Are we all just liars?
Okay, that was a controversial title, but it makes me wonder if people think that.
I was reading through comments on blog posts about how much you should have saved by the time you’re 30, or how much you need to have in your retirement accounts by 30.
(Yeah I’m a nosy biatch!)
What struck me the most about these comments, is that the people who say they have over 6-figure incomes and over 6-figures saved as their net worth by the time they’re 30, are met with (warranted) skepticism.
From: Money under 30
AS ONE OF THOSE ‘YAHOOS’…
…I have no way of proving that I have this money saved (nor do I care to), but… I do.
I simply fell into my profession, a bit by luck and a bit with hard work, and I fell into it early in my life.
It’s a career for me, not just a job, and I think you’ll find a lot of people who are happy with what they have, say that often.
However, by the same token, plenty of people with the same degree as I have (business), aren’t making 6-figures.
Everyone’s situation and circumstances are different.
To say that’s it is impossible to earn over 6-figures when you are in your mid-20s or 30s, is like saying it is impossible to earn LESS than $10,000 in your mid-20s or 30s.
Or that people who make $1 million a year, don’t exist.
It’s equally as ridiculous. There will always be people who are outliers, which brings me to one of my points…
PEOPLE WHO GO TO PERSONAL FINANCE BLOGS ARE IN THE MINORITY WHO PROBABLY HAVE AN INTEREST IN $$
Ever notice that when you stumble across these blog posts, people are making a killing in their salaries, saved up $500K by the time they were 35, have 4 kids, and do it all with only one working spouse?
If statistics tell us time and time again that most Americans DO NOT make $100,000+ a year, and that by the age of 30, we’d all be lucky to have at least $8000 saved from having crippling student loans, it means that these people (myself included) are in the minority.
And we’re a minority that is interested in money.
Specifically, OUR money, and how to grow it.
This is why we go to PF (personal finance) blogs, read about money, talk about investments, are interested in saving for retirement and are generally guilt-ridden if we don’t save every penny that we can because we see other people working just as hard as we do, making less and saving as much, or more.
(Or is that just me?)
The majority of people who don’t have such situations, probably find talking about money that they don’t have, to be extremely boring and plain depressing — just as I did before I realized I had to do something about my student debt.
Not to mention all the internet lurking that goes in, with very little commenting.
…BUT EVERYONE IS PARTLY RIGHT TO BE SKEPTICAL
I think if I weren’t in that position, I’d be skeptical too.
Heck, why aren’t you skeptical of ME? Aside from those of you who have met me that is.
And really, who the heck could imagine that by 30, with only 7 or so working years under your belt, you would have saved at least $100,000?
That’s about $14,000 a year. Net.
It’s kind of ludicrous, so I see their point. Especially if they’re making $28,000 a year gross.
Most people can’t even scrape together enough money to cover their student loans, let alone think about maxing out their retirement funds.
AS FOR HOW TO MAKE MORE MONEY?
Apparently the plum career is to become a kickass pharmacist.
No really, the bottom line and the advice you will hear most from people is to figure out what you want to do, what you like to do, and find a way to make money from that.
What works for one person, will not work for another.
There is no magic bullet, or answer that will solve everything and hand you tons of money on a silver platter.
I may absolutely love my job, but would be a TERRIBLE pharmacist.
I’d rather make less money at my job than more in something I don’t enjoy….. although I do realize that it’s very easy to say that when my job already pays very well.
Anyway, the point is to find what you love to do…that makes money, and to be happy with your situation because you’re doing the best you can.
When I get cranky about life, and boo hoo to myself about first world problems, I always think that it could be a lot worse and I STFU.