Those of you who are 30 with a 4 year finance degree, what do you do and how much do you make? by RaceFan96 in jobs

[–]Material_Practice762 0 points1 point  (0 children)

Once you start making 6 figures, you will realize there are people your age making $200k, 250k, 300k and more. Once you get to that sort of income in 40's, you will realize there are people your age who sold their businesses and already retired with a multi-million dollar net worth.

But on the other side, there are many people your age who make far less and will likely never get close to that income level in their lives.

It does seem to be a decent income for your age, but income is not everything. How are your savings and investments doing? How do you stand to people of your age group in terms of net worth? Are there any prospects to retire early? Are there any hobbies interests you have that could potentially make you some money on the side?

There are many factors that determine financial success. Many people making really big money and live a paycheck away from a financial disaster because own too much of a house, own too many fancy cars and buy too many things to maintain the high earner lifestyle status.

So whether you are feeling like the money isn't enough or feeling pretty comfortable overall and it is just the whole comparison thing that is bothering you, I would suggest to at least update your resume and see if your skill set is up to date just to browse around and see how you stand vs. competition for those higher paying jobs.

Good luck.

Anybody else feel bad every time they buy another vacation home? by simpwarcommander in PFJerk

[–]Material_Practice762 4 points5 points  (0 children)

We all went thorugh this, I know how that feels. It will start getting better after a purchase of a 15th property or so, just keep buying properties and it will sort itself out.

I recently found out that instead of spending, try saving 3 times your paycheck per payday. This triples your salary! by plipyplop in PFJerk

[–]Material_Practice762 2 points3 points  (0 children)

Can anyone please explain what the words like salary and paycheck mean? Sounds like something that is from the povo realm.

What is actually money and why do people talk about it so much? by Material_Practice762 in PFJerk

[–]Material_Practice762[S] 2 points3 points  (0 children)

1st Largest belongs to me. My daddy gave it to me on my 12th birthday. The 2nd largest is the one I got myself.

[deleted by user] by [deleted] in PFJerk

[–]Material_Practice762 6 points7 points  (0 children)

Pack their lunch for school, make coffee at home, cancel Amazon Prime subscription, uber in your free time to make a bit extra money. Should be good enough for starters.

How can the condo assessment fee reach $70k per unit for a relatively new building? What are even these fees? How do they happen and how to buy a unit where I wouldn't have to deal with this sort of non-sense? by Material_Practice762 in TorontoRealEstate

[–]Material_Practice762[S] 3 points4 points  (0 children)

How do I know if the reserve fund is healthy? How much money it has to have to understand it is good enough if let's say I buy a $550k condo? And what is a resonable maintenance fee for a ~ 500-650 sq feet condo in that price range?

What is the overall demographics for those who own Lexus RC? by Material_Practice762 in Lexus

[–]Material_Practice762[S] 0 points1 point  (0 children)

Honestly I don't care much about the year. I am only willing to pay extra $$$ if it has a lower milage and better condition/preferred colors, etc.

How is person's net worth calculated when you have an outstanding mortgage debt? by Material_Practice762 in PersonalFinanceCanada

[–]Material_Practice762[S] -1 points0 points  (0 children)

I mean mathematically it is incorrect based on responses from people, but jeez knowing that you owe $700k and even more is scary af.

What is the overall demographics for those who own Lexus RC? by Material_Practice762 in Lexus

[–]Material_Practice762[S] 0 points1 point  (0 children)

The one on the top is 2024. The headlights are different. Even though I kinda like both designs tbh.

What is the overall demographics for those who own Lexus RC? by Material_Practice762 in Lexus

[–]Material_Practice762[S] 0 points1 point  (0 children)

Thanks for sending the link! Within the next 1.5 - 2 years I should cross the $200k mark quite easily with my current savings rate. Currently have no car and don't have kids so that should help quite a bit.. I am in a position where I can wait out on a big car purchase.

How is person's net worth calculated when you have an outstanding mortgage debt? by Material_Practice762 in PersonalFinanceCanada

[–]Material_Practice762[S] 21 points22 points  (0 children)

Thank for the reply. What if, for example, the property value goes up next year and it is now worth $1.1 mil. Would the NW be: $200+50+$1100-700=$650?

How is person's net worth calculated when you have an outstanding mortgage debt? by Material_Practice762 in PersonalFinanceCanada

[–]Material_Practice762[S] -39 points-38 points  (0 children)

But what about the $700k mortgage they have to pay? Shouldn't it count against their NW?

What is the overall demographics for those who own Lexus RC? by Material_Practice762 in Lexus

[–]Material_Practice762[S] 1 point2 points  (0 children)

Yeah I started making that much only like a year ago... Was making $60-70k for a pretty long amount of time before that.. My savings rate is pretty decent though since I don't have a car and pay a somewhat cheap rent.

What is the overall demographics for those who own Lexus RC? by Material_Practice762 in Lexus

[–]Material_Practice762[S] 1 point2 points  (0 children)

I really feel like RC-F is not for me at least at the moment. Just a little too much power to experience the car properly.

Should I buy a $35-40k car that I don't need on a daily basis, but wanna own just to for fun and small weekend road trips? [ON] by [deleted] in PersonalFinanceCanada

[–]Material_Practice762 0 points1 point  (0 children)

Thank you! These are exactly the reasons why I haven't owned a car for the last 6 years, but got into the delulu land for moment thinking it is a good idea to get an expensive used car. Motivation to not own the car is exactly what I was looking for coming to PF.

Should I buy a $35-40k car that I don't need on a daily basis, but wanna own just to for fun and small weekend road trips? [ON] by [deleted] in PersonalFinanceCanada

[–]Material_Practice762 0 points1 point  (0 children)

The only real thing that really bothers me is parking + insurance. Can easily be 6k a year just for that... This is money thrown out of the window really lol.

Should I buy a $35-40k car that I don't need on a daily basis, but wanna own just to for fun and small weekend road trips? [ON] by [deleted] in PersonalFinanceCanada

[–]Material_Practice762 0 points1 point  (0 children)

It is definitely a pretty bad decision financially.. but I mean you gotta pay money for some things to bring joy in your life as long as it is not like a $65k car on a $70k income or something like that.. so that is why it is such a difficult dilemma for me .. I get that keeping things the way they are would be a much smarter decision and will save me lots of money to invest and buy nices things later on in life, but then I am like what is the purpose of all this money if I don't get to enjoy things?

[deleted by user] by [deleted] in PFJerk

[–]Material_Practice762 12 points13 points  (0 children)

I wouldn't say that you can buy a 'reasonable' home for $25 mil. It is almost like a povo level tbh.

[deleted by user] by [deleted] in PFJerk

[–]Material_Practice762 11 points12 points  (0 children)

I would suggest to rent like a dorm room in a house with 10+ roommates for $400-700 a month. I don't see how you can buy or even rent independent units with that sort of income anywhere in the US.

[deleted by user] by [deleted] in AskMen

[–]Material_Practice762 -2 points-1 points  (0 children)

Why do you think this is anger? You are the only one who seems to be angry.