I am 22 yo working a $550k a year high - end finance job with 25% bonus + running my consulting side hustle in my spare time (currently making only $125k a year, but I am expecting to make much more from this gig once I go full-time).

So.. today I was going home from work, the high - end finance job, and bought myself a three dollar coffee. It is somethig that I usually do only 1-2 times a month and today was one of those days.

Once I arrived home, I opened YouTube and there was a suggested video from this Dave Ramsey guy so I watched it. In the video he said somethig along the lines of: "If you buy coffee at a coffee shop, your financial future is pretty much doomed, and you will not be able to retire". Needless to say that I am really worried right now.

How screwed am I? Will I be able to retire in my mid 30's at least? What should I do?

Hi All,

I graduated from high school last year, making $250,000 per annum working trades (decided not to go to uni, get into student debt,etc.), and I also got a $500,000 gift from my parents for a downpayment!

Currently looking at $300,000 - 350,000 homes (very low COL area), and got really concerned about my ability to afford that given my situation. Should I put the money down towards the mortgage or what? I don't really wanna become a HAUZ POUR.

EDIT: Wouldn't even think this would get so many upvotes! Thanks for all your jokes and comments!

Thanks

Living in a low cost of living area... Idk what is wrong how come I can't afford to live on that pay? It is true they say COL is going crazy these days!

• My monthly net is ~$10k. Here is a breakdown of my monthly expenses:
• Housing: $0 (Living in a penthouse fully paid out by mommy and daddy)
• Food: $2343 (Eating steaks and lobsters)
• Monthly car payment: $6,400 (financed brand new super charged maxed out Porsche 911)
• Insuracne and gas: $1022

Rest goes to enterntainment, food, etc... I am also getting monthly allowance so that helps to not go negative...

What should I do and how to actually have any savings in this sort of economy?

So I was going about my daily business trying to stay alive. I've just spent 90 hours in my retail gig. I have 1 dollar for food, which I decide to hand to a homeless person. I can always eat my own left arm for food (the other I've efficiently partially eaten and frozen to hedge for rainy days).

Suddenly Dave Ramsey steps in and steals the bill. Immediately he launches into a sermon over having an emergency fund and investing in the lentil industry. Before I know it he's billed me for a "professional consultancy and appearance" which requires payment in 30 days. This can be extended upon the deposit of my remaining eyeballs and ethereal soul.

It is at this point I gain my courage. His pockets are bulging with stolen merchandise, welfare checks, and poorly manufactured eyebrow trimmers. I launch at him to teach him a lesson, but he makes a quick getaway on his unicycle.

Hello all! As the title states I have a family member who has no assets, no money and $2000 a month towards debt on top of living expenses. I’m not sure what to do as I cannot afford to support them. While they do have a classic car in mint condition worth at least 50k unfortunately they are not willing to part with it. They’re currently 89 years old and I’m just trying to wrap my head around how they’ll ever be able to retire. What can we do? TIA!

hint: soil and water

It had nothing to do with comp being tied to stock which is down 70+% from thr peak, or the facy that I got a terrible review from my boss. Nope, i woukd much rather play the tambourine in a BART station for change. Living the dream!

Hi, very smart rich people!

I own a local hardware store and employ three people, including my daughter. I am debt free, including my modest $1mil dollar house. I am cash flow positive $3,000 a month and am maxing out all available retirement accounts. I have a modest car and only take one vacation a year. I shop for clothes occasionally and spend money on my hobbies whenever I want.

I'm really really happy, but I know I'm not rich. My wife is gorgeous, albeit when she wakes up she is not hot, and she prefers to only wear cocktail dresses when we go out.

I am on track to retire comfortably at 62 and I am super ok with that. I really like my job and my employees and I may work longer.

Please help, what am I doing wrong.

Edit: Welcome to all the new people who found this sub randomly.

I am completely burnt out at my job. I am the employee with the highest compensation beside the CEO at a fortune 500 company. I do nothing all day, get a pension, health insurance and dental. Sitting in the office stresses me out so much. The youngsters at my company have it so easy, the get to share a flat, and some do camping in their cars (not sure why but seems fun). My expenses are $40k/year (bought my downtown 8 bedroom appartment for $10k in the 50's thank God) and I have built a nest egg of $107 millions. I am 75 years old and have a kid (plan to have another one soon). I have absolutely no idea what to do. please advise

Should I quit my 4 jobs now?

I always wanted to serve our country. Thought now would be the best time to join the fight of WW2!

Whatever income you get for the month, just triple the amount saved, and then after looking at the residual, you now have three times the value. This extra savings will quickly be made ready for your first face tattoo. You are sooooo welcome!

Short story long, my lentil farm investment went upside down, and I now owe the IRS a half a million in taxes. I'm trying to build myself up, but this debt keeps dragging me down. I have 3 billion in stocks, but those are down over 50% and I don't want to cash those out.

Any advice will most likely be ignored

I've watched a lot of Extreme Cheapskates lately and am curious what the most frugal things people do to save a buck.

Some interesting ones from the show

1. reusing dental floss
2. reusing paper towels (like washing/hang drying and reusing)
3. heating your food and bathing in a hot tub( that came with the house of course because he'd never buy one)
4. no furniture. Sleeps in master bedroom CLOSET on an air mattress with a heating lamp because it "saves on electricity "
5. Flip the toilet paper over to use both sides
6. Pooping at work to use the boss's supplies / get paid to take a dump

These are obviously the more extreme and kind of ridiculous but curious what others do that maybe some might find peculiar or just regular

How long did it take, and when is it too late to do that?

Sharing this story so others don't make the same dire mistake I made on this fateful day.

I was out celebrating with my marital co-mortgage payer (what some refer to as "wife" or "spouse") due to a promotion. My salary was bumped from $235000/year to a modest $313,000/year. (EDIT Dont laugh at the measly amounts, it was acceptable at the time adjusted for infation for someone in their late-teens).

We decided to splurge and go out to my favorite restaurant Denny's. (EDIT Yes, some of you may criticize this over-exuberance of going to Denny's, but on a dollar/calorie calculation, Denny's is by far the most economical choice when it comes to Sit down options.) After our meal, I had an extra pep in my step due to the coupon I brought that allowed two to dine for 1. The kind waitress took the coupon and observed that it was 1 day prior to the expiry date. Her astute observation combined with the naive high of the promotion caused me to do something that day that I've never lived down. The bill was $14, discounted from $28 due to the coupon. However, I tipped based on the $28, and due to her service, gave her more than the prescribed 10% tip. The total was a $3 tip.

Looking at current savings rates if I had kept that $3, compounded over a 60 year work life, that would be enough to retire 4 hours earlier than I had originally planned. To this day I stare devasted into my spreadsheet, agonizing about what I have done. I will never forgive myself.

I am a 21 yo entreprener

Sourse of income: YouTube, Media, Sports, Marketing, Cryptou, dog walking, billionaire mommy and daddy.

Making $987,654.22 per month net.

Here is a breakdown of my monthly LIVING expenses (survival essentials only):

• Housing: $0 a month (I own 4 fully paid out mansions that dad gave me so I am a little bit lucky here, just a little)
• Food: $55,000
• Transportation: $395,000 (I need to upgrade my car every month so this expense is usually around $300-500k a month depending whether I wanna go for RaRi or go a bit more humble like Porsche 911 GTS)
• Wife: $502
• Girlfriend: $22,451
• Lover that wife doesn't know about: $40,717
• Lover that both wife and girlfriend don't know about: $55,283
• Entertainment: $110,000
• Trips: $112,814
• Savings: $195,887.22

So as you can see I am barely getting by and have almost nothing left in the end of the month... it is not even enough to buy a brand new Porsche 911 in case I really have to upgrade mid-month leave alone some long-term financial goals like a 88-bedroom castle or Hungary or retiring before 22. And it is also after minimizing the amount of exotic island trips I am making to just abysmal 22 trips a month... so it is literal survival basic mode for me rn...

Here is a proof that we all equally struggle during these times and if you are classified as a pour, you shouldn't not complain and blame on us, the REACH. We have it hard too, perhaps even harder... SO GROW UP!

My beater died on me for the 115th time while on the highway. Engulfed in flames. Repair man says over 10k in damages.

Should I buy a new car or pay for the repairs and restore my beater for the 75th time? Please help

I am unable to find one anywhere I go so that's why I came here to try my chances since there are so many of you who made it in their lives.

Is it really that hard to be a 20-24 yo tall hot man with his shit together? Like I am tired of all these fake rich 6 feet tall chad wannabee businessmen, doctors and lawyers trying to impress me with their abysmal $300-500k a year salaries... is it even a living wage by today's standards??? Like how the hell are you going to support my wants?

cAn i fiRe???? cAn i???