Current Events > "How this 35 year old paid off all their debt and retired early"

(+) Yeah! (+)

*article starts with them being buried in debt living paycheck to paycheck*

hey I can relate to that

*they move into their parents house rent free also their parents paid off their debt for them*

hey what the fuck

*they can put their entire income into investing also their parents help them get a couple rental properties*

god damn it

There is somethig to sucking it up and living back with family, but yeah a lot of these stories amount to "I was broke until Daddy gave me his credit card and bought me a business"

Just rent out your second vacation house you peasants.

Can relate, was getting on my own feet after college and being broke, went parents died the inheritance paid off all my debts.

Now you realize the move out at 18 thing was designed to make more indebted servants. And the whole boomer generation brainwashes to treat their kids like that.

And with a small $1 million loan from my father...

Obviously you should go move in with that guy's parents.

Also love the articles saying just max out your 401k AND your IRA every year!

yeah cause sooo many people have an extra $26k to put away each year

I follow the FIRE subreddit. Most of the success stories are techbros making $200k+ per year.

I saw one on Facebook today that was like this entrepreneur saves 80% of what he makes in a year and then goes on to say he owns 6 rental properties and makes over 620k per year. Like yeah, it must be nice to save 80% of your income when the leftover 20% is double(or triple) what most people make

littlebro07 posted...

Also love the articles saying just max out your 401k AND your IRA every year!

yeah cause sooo many people have an extra $26k to put away each year

this lol

majority of people dont even come close to making that kind of money to max those out

EndOfDiscOne posted...

I follow the FIRE subreddit. Most of the success stories are techbros making $200k+ per year.

Of course it is. Its impossible to do anything they are saying with a normal salary.

Sometimes you just have to suck it up, and ask your father for a job in his company, guys. You can't be a teacher for the rest of your life, crying poverty, when you could be an Area Manager in your father's business.

All you need to do is go in, ask for the boss, give them a strong handshake and any job is yours

Choose better parents next time. Then you too can be a success.

Tired of being broke?
Just get more money!

FatAnimeBooty posted...

Tired of being broke?
Just get more money!

Call JG Wentworth.

It's your money, use it when YOU need it!

I've never seen one of those stories that didn't involve parental help.

WingsOfGood posted...

Now you realize the move out at 18 thing was designed to make more indebted servants. And the whole boomer generation brainwashes to treat their kids like that.

But... the children of boomers are the ones moving back in with Mom and Dad?

If the boomer generation was truly brainwashing their kids into the "bootstraps mentality" they'd still be kicking them out at 18. Instead they coddled them, because the supposed "Greatest Generation" treated their kids like such shit that boomers said "there's no way I'm treating my children like that!"

I say it all the time, the "Participation Trophy Generation" didn't become that way by buying themselves participation trophies.

Being a part Gen-X, aka the middle child of the Boomer-Millennial war, I've always been fascinated by the dynamic between the two generations, and how they blame each other for the current structure of society.

CNBC Make It is bullshit 95 percent of the time

I have some money, how do I invest this?

I dont know how to do stocks or where to buy properties

Sometimes I feel like I should learn how to do investing and shit. But nearly all my anxieties are related to money, so I feel like the stress would eat me inside out

Generational housing is trying to make a comeback.

Working 2 jobs and investing/saving the majority of your income for a few years.

It's not complicated and is doable especially if you make good investments but people don't want to sacrifice their time or luxury life styles.

Link for rage

https://m.youtube.com/@CNBCMakeIt/videos

Earning money by taking away opportunities from other people is the only way to truly be successful.

BTH_Phoenix posted...

All you need to do is go in, ask for the boss, give them a strong handshake and any job is yours

It worked for me

WingsOfGood posted...

Now you realize the move out at 18 thing was designed to make more indebted servants. And the whole boomer generation brainwashes to treat their kids like that.

Boomer American generation at least. Latino and Asian parents let their kids stay with them so that they can be taken care of later . Those Dane American parents are gonna be sent to senior homes by their kids.

That being said, It have a selfish uncle. He is letting his kid stay with him while he goes to college full time, but isn't helping him pay for his college. That dude works full time in retail now as well.

If I become a parent, I will help pay for my kids tuition. My dad helped me. I payed $11k in loans from work after graduating.

littlebro07 posted...

*they move into their parents house rent free also their parents paid off their debt for them*

I hate to say this but this is a great thing to do. Use your parents. They're there to ease your suffering. Just help them out with house chores and shit, they'll be super thankful.

Oh, one of my favorites.

"It's easy! I married and my parents bought us a house as a wedding present. We tried living there but then decided to move with my husband into my grandmother's spare house to save money and rent the house out for some extra income. In just a few years we managed to pay off my student loan. If I can do it, anyone can."

It's always, ALWAYS generational wealth and whatnot. Family buying them properties and whatnot or letting them live for free in an extra house.

gunplagirl posted...

It's always, ALWAYS generational wealth and whatnot.

Yes.
The ideals of Communism actually work out great in small groups, such as an extended family.

Questionmarktarius posted...

Yes.
The ideals of Communism actually work out great in small groups, such as an extended family.

See the thing about that is

https://kotaku.com/victoria-3-communism-op-paradox-simulation-capitalism-1849832954

gunplagirl posted...

See the thing about that is

if macro-scale communism would ever get over the authoritarian problem, it may actually accomplish something.

Questionmarktarius posted...

Yes.
The ideals of Communism actually work out great in small groups, such as an extended family.

yep

apocalyptic_4 posted...

Working 2 jobs and investing/saving the majority of your income for a few years.

It's not complicated and is doable especially if you make good investments but people don't want to sacrifice their time or luxury life styles.

With what time, what degree, and what investment knowledge? Anything that's not a highly risky investment will take years to see any return. Getting any good job takes years of training. Two trash jobs is not going to get anyone anywhere. And saving income assumes you don't have a ton of debt or other obligations beyond the typical such as school debt, medical debt, childcare costs etc.

It's not simple at all, otherwise people would simply do it. Many don't have time to sacrifice or the pre-reqs to even get started.

I wish I understood how to invest money

Questionmarktarius posted...

if macro-scale communism would ever get over the authoritarian problem, it may actually accomplish something.

Do you know the long and bloodied history of capitalism? Shit, do you know how many South American coups were backed by CIA operatives on behalf of American capitalists? :la Oh wait, there we go. Capitalists exporting coups and human suffering and death.

VeggetaX posted...

I hate to say this but this is a great thing to do. Use your parents. They're there to ease your suffering. Just help them out with house chores and shit, they'll be super thankful.

Not gonna lie, my wife and I actually did do this for nine months but it was after selling our first house because we couldn't find one we liked quick enough. We used the proceeds from that sale to pay down most of our debt and saved a bit while living with them before finding our current house.

But my parents aren't rich so didn't get as lucky as some of the folks from these articles lol

Living with relatives is what I'm doing now. Took me longer then I would have liked to have found the perfect career for myself. And am not proud to be living with others at my age.

But by mid next year I'll have enough for a decent down payment on a good house in my state. Which I could have down so just a few before but oh well.

legendary_zell posted...

With what time, what degree, and what investment knowledge? Anything that's not a highly risky investment will take years to see any return. Getting any good job takes years of training. Two trash jobs is not going to get anyone anywhere. And saving income assumes you don't have a ton of debt or other obligations beyond the typical such as school debt, medical debt, childcare costs etc.

It's not simple at all, otherwise people would simply do it. Many don't have time to sacrifice or the pre-reqs to even get started.

A typical warehouse job at amazon with profit sharing and a part time retail job.

Low risk investments will get you at least a 3% return it's not a gamble in addition to index funds. I was close to a 100k in a couple years doing this and paying $1700 in rent amoung other things. I mean if your determined it's possible it just depends on your circumstances.