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Forums - General Discussion - Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

DonFerrari on 24 January 2018

It impress me that people think it really is the fault of the capitalism that they want to have booze and party so the government must provide retirement and health since they couldn't save up for old age.

You do small sacrifices during your whole life so that you don't make gigantic sacrifices later on. The you of today need to loan to the you of tomorrow and not the opposite.

And for people saying how hard is to pay 250k on a house with 5% interest per year...

I paid 350k with 10% interest for 30year payment, when I first started working while having 3 months of wage delayed. But also I didn't go out, drink or anything. All my money was to pay for the car (about 30% interest per year) and apartment so I had all needed before marrying at 25.



duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"

http://gamrconnect.vgchartz.com/post.php?id=8808363

Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"

http://gamrconnect.vgchartz.com/post.php?id=9008994

Azzanation: "PS5 wouldn't sold out at launch without scalpers."

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Oneeee-Chan!!! on 24 January 2018

I like avocado sushi.



Soundwave on 24 January 2018

You could say the same about video games. They are a waste of money in this context, especially at $300 a pop for the console + $60 a game. Guess millennial/young people shouldn't buy those, that's a lot more expensive than avocados, lol.

I wouldn't buy a home if I were in the position of a millennial. Find a reasonable place to rent and make sure you put aside your savings into a index stock fund with low management fees and build a savings pool that way. Don't dump it into a mortgage. 

Last edited by Soundwave - on 24 January 2018

Ganoncrotch on 24 January 2018
LipeJJ said:
Ganoncrotch said:

I see you're 24 so I'm going to guess you are in rental accommodation still? or have you purchased your own home by that age? Just even with my current work if I could spend no money it would take me at least 3 years to be able to pay up front for a home myself (which is how I aim to buy property) during that time every bit extra which is spent means it takes longer to get to the goal.

Just if you don't mind me wondering how your rent / accommodation is paid for atm to think that you don't consider a saving of a few hundred euros per week to be "not living"

Don't worry, I don't mind answering.

Me and my boyfriend will buy our first apartment this year (around June/July, and we'll be sure to take at least 2 maids so we don't have to lose time doing useless stuff). I started college 2 years ago for fun (psychology), because I'm a very curious person and learning is something I truly love. Don't know if I'll work eventually or not, but it's still an invaluable experience.

Btw, I find amusing americans PoV regarding school/work/money. It ditches freedom completely if you are expected to do certain things at certain points. I'd be a sad person if I had to save a few hundred dollars/euros per week. To me, this is not living (if you have to rationalize everything and don't have the opportunity to experience stuff without putting much thought into them).

Sounds like you're fairly out of the loop with how the world actually works though in terms of for the majority of people, don't get me wrong I'm not saying someone should be strapped to a desk all year round at a job, think last year I traveled outside my home country more than 10 times on trips away, but still I think I enjoyed the holidays more knowing that I had saved / worked for them, would think I would enjoy life less if I had someone wiping my ass when I took a shit, I think dealing with the shit sometimes makes it more enjoyable when you get to escape from it. Can't have highs without lows would be a way to look at it I guess.

Good luck with buying the apartment though, make sure and consider what it would be like to live there in winter as well if you guys are going to view it in the summer, want to make sure it isn't in an isolated area which gets icy at winter I mean, can be easy to miss something like that going to buy in the middle of summer.



Why not check me out on youtube and help me on the way to 2k subs over at www.youtube.com/stormcloudlive

numberwang on 24 January 2018
Nymeria said:

 

"Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey."

https://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06

 

Can have 1 in 6 with plenty of money, on the flip side the other 5 of 6 could be struggling to make ends meet.

Wealth is much more than just saving accounts, like property, stocks etc.



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LipeJJ on 24 January 2018
Ganoncrotch said:
LipeJJ said:

Don't worry, I don't mind answering.

Me and my boyfriend will buy our first apartment this year (around June/July, and we'll be sure to take at least 2 maids so we don't have to lose time doing useless stuff). I started college 2 years ago for fun (psychology), because I'm a very curious person and learning is something I truly love. Don't know if I'll work eventually or not, but it's still an invaluable experience.

Btw, I find amusing americans PoV regarding school/work/money. It ditches freedom completely if you are expected to do certain things at certain points. I'd be a sad person if I had to save a few hundred dollars/euros per week. To me, this is not living (if you have to rationalize everything and don't have the opportunity to experience stuff without putting much thought into them).

Sounds like you're fairly out of the loop with how the world actually works though in terms of for the majority of people, don't get me wrong I'm not saying someone should be strapped to a desk all year round at a job, think last year I traveled outside my home country more than 10 times on trips away, but still I think I enjoyed the holidays more knowing that I had saved / worked for them, would think I would enjoy life less if I had someone wiping my ass when I took a shit, I think dealing with the shit sometimes makes it more enjoyable when you get to escape from it. Can't have highs without lows would be a way to look at it I guess.

Good luck with buying the apartment though, make sure and consider what it would be like to live there in winter as well if you guys are going to view it in the summer, want to make sure it isn't in an isolated area which gets icy at winter I mean, can be easy to miss something like that going to buy in the middle of summer.

Yeah, I'm probably a bit clueless when it comes to "normal" struggles, but regarding having someone to deal with stuff... it's not like I don't want to do anything, but rather have the option to have it done when it's needeed. ^^ 

Don't worry about the apartment. I live in Rio, the lowest temperature I've experienced here was about 12° and where I'm moving to is not that different. Btw, congrats on the trips and savings! It's really nice to get to know new places/cultures.



Bet with Teeqoz for 2 weeks of avatar and sig control that Super Mario Odyssey would ship more than 7m on its first 2 months. The game shipped 9.07m, so I won

mysteryman on 25 January 2018
DonFerrari said:

It impress me that people think it really is the fault of the capitalism that they want to have booze and party so the government must provide retirement and health since they couldn't save up for old age.

You do small sacrifices during your whole life so that you don't make gigantic sacrifices later on. The you of today need to loan to the you of tomorrow and not the opposite.

And for people saying how hard is to pay 250k on a house with 5% interest per year...

I paid 350k with 10% interest for 30year payment, when I first started working while having 3 months of wage delayed. But also I didn't go out, drink or anything. All my money was to pay for the car (about 30% interest per year) and apartment so I had all needed before marrying at 25.

Wow only $350K? They’d kill for housing that cheap in Melbourne. 



Gamer147 on 25 January 2018

Good food is good for the soul period.



vivster on 25 January 2018

You don't need to give up avocados if you just blow all your congressmen every day.



If you demand respect or gratitude for your volunteer work, you're doing volunteering wrong.

DonFerrari on 25 January 2018
Ka-pi96 said:
DonFerrari said:

It impress me that people think it really is the fault of the capitalism that they want to have booze and party so the government must provide retirement and health since they couldn't save up for old age.

You do small sacrifices during your whole life so that you don't make gigantic sacrifices later on. The you of today need to loan to the you of tomorrow and not the opposite.

And for people saying how hard is to pay 250k on a house with 5% interest per year...

I paid 350k with 10% interest for 30year payment, when I first started working while having 3 months of wage delayed. But also I didn't go out, drink or anything. All my money was to pay for the car (about 30% interest per year) and apartment so I had all needed before marrying at 25.

And if you die today and the you of tomorrow never exists?

Would really suck if instead of enjoying your money you saved it all but then died before you got a chance to use it!

If I die today my wife and son will at least not go famine while they reestablish themselves. I live good and comfortable, enjoy the today, but care about tomorrow.

Soundwave said:

You could say the same about video games. They are a waste of money in this context, especially at $300 a pop for the console + $60 a game. Guess millennial/young people shouldn't buy those, that's a lot more expensive than avocados, lol.

I wouldn't buy a home if I were in the position of a millennial. Find a reasonable place to rent and make sure you put aside your savings into a index stock fund with low management fees and build a savings pool that way. Don't dump it into a mortgage. 

Buying a console every 5 years and 3 games a year would cost you let's say 400+5*3*60 = 1300 USD, eating avocados+drinking starbucks and the like will be 15 bucks a day or =15*365*5 = 27k... yes I think the gaming isn't that expensive in comparison.

LipeJJ said:
Ganoncrotch said:

Sounds like you're fairly out of the loop with how the world actually works though in terms of for the majority of people, don't get me wrong I'm not saying someone should be strapped to a desk all year round at a job, think last year I traveled outside my home country more than 10 times on trips away, but still I think I enjoyed the holidays more knowing that I had saved / worked for them, would think I would enjoy life less if I had someone wiping my ass when I took a shit, I think dealing with the shit sometimes makes it more enjoyable when you get to escape from it. Can't have highs without lows would be a way to look at it I guess.

Good luck with buying the apartment though, make sure and consider what it would be like to live there in winter as well if you guys are going to view it in the summer, want to make sure it isn't in an isolated area which gets icy at winter I mean, can be easy to miss something like that going to buy in the middle of summer.

Yeah, I'm probably a bit clueless when it comes to "normal" struggles, but regarding having someone to deal with stuff... it's not like I don't want to do anything, but rather have the option to have it done when it's needeed. ^^ 

Don't worry about the apartment. I live in Rio, the lowest temperature I've experienced here was about 12° and where I'm moving to is not that different. Btw, congrats on the trips and savings! It's really nice to get to know new places/cultures.

Well in Rio 12 Celsius or 54 Fahrenheit is almost public emergency situation =p

mysteryman said:
DonFerrari said:

It impress me that people think it really is the fault of the capitalism that they want to have booze and party so the government must provide retirement and health since they couldn't save up for old age.

You do small sacrifices during your whole life so that you don't make gigantic sacrifices later on. The you of today need to loan to the you of tomorrow and not the opposite.

And for people saying how hard is to pay 250k on a house with 5% interest per year...

I paid 350k with 10% interest for 30year payment, when I first started working while having 3 months of wage delayed. But also I didn't go out, drink or anything. All my money was to pay for the car (about 30% interest per year) and apartment so I had all needed before marrying at 25.

Wow only $350K? They’d kill for housing that cheap in Melbourne. 

At the same time the minimum wage in the country was about 500/month, that is not even near cheap in Brazil... also with 10% interest a year you'll pay over 1M in 30 years.



duduspace11 "Well, since we are estimating costs, Pokemon Red/Blue did cost Nintendo about $50m to make back in 1996"

http://gamrconnect.vgchartz.com/post.php?id=8808363

Mr Puggsly: "Hehe, I said good profit. You said big profit. Frankly, not losing money is what I meant by good. Don't get hung up on semantics"

http://gamrconnect.vgchartz.com/post.php?id=9008994

Azzanation: "PS5 wouldn't sold out at launch without scalpers."