Like if someone can afford to get a $1000 latest iPhone but chooses to get a $400 older iPhone. Saved $600 but had a net worth of millions.

What’s the fuking point of having those $$$? Save it for the family to enjoy once the person passes away?

Ain’t talking about people who buy expensive chit to keep up with the jones’ but actually the people who are exact opposite. What the point?

save for retirement

It’s habit

You aren’t supposed to save money. You’re supposed to invest. Then over time you will have more money.

problem is that most people buying those 1k iphones make $12/hr and already in credit card debt. Meanwhile most millionaires are probably walking around with iphone 8s.

Peace of mind.

Yea that’s what I’m saying. Lets say income is $10k per month after taxes or even $20k or whatever.

Spend only $4k. Save the rest and invest whatever and whenever the savings can be invested.

Obviously a $1k phone ain’t chit for this person cuz net worth is millions but you still see the person driving a beat up (but very comfortable) car, and saving where’re they can (like the IPhone example above).

What’s the fuking point man if they have the money and net worth and investments and income but don’t spend it. Uh!

early retirement, emergency funds, money for investments, coronavirus, job loss

I buy used phones and keep them for years. Also drive a 22 year old car I bought with cash when I was 16. Dead srs. My wife and I max out our retirement accounts each years and I’ve been investing in crypto for years (big gains) so I’m on track to retire in my 40s with multiple millions in funds and a paid off house. The freedom to be able to do what I want when I want is what is attractive to me. Work wants me to get the jab or get fired? I quit and chill at home because I can. Nobody can tell me what to do because nobody has me by the balls financially.

The point is to retire when you’re 70 with a couple million and enjoy life then. Buy that dream car of yours, travel the world, hit the clubs and get all the women when you’re ballin’ and retired

because materialism is an empty void. The greatest thing money can buy is the freedom to do whatever you want, which requires you have a lot of money.

Yo I think the same way.

It’s good to have money for rainy days.

But I YOLO. I spend my $. I never know when I’m going to leave earth.

I have friends who penny pinch. Call me to pick them up cause they are too cheap to pay for gas. Dead serious.

So I save a bit. And ball out on things that make me happy. No expensive clothes. But nice car. Nice gym. Eat good food. Drink good beer. Have good times. Etc.

It’s just money. It comes and goes. Can always make more. And that’s the thing. Make more and it’s never an issue.

Been there. You think doing what you want will make you happy. It doesn’t. I got bored. Had to work again

to wealthy capital is a tool to build more wealth, to the poor capital is to be spent immediately on stupid **** like newest iphone, macbook, airpad air jordans etc.

money means you've got options, options means freedom and confidence.

iphone 7 crew

Same but its different working because you have to VS because you want to

For the dopamine release.

Rich people get little micro erections whenever they're able to get something for free.

Money makes money, my father makes 200k in dividends each year. And it gives you leverage to tell ur boss of fuk off. Instead of being a peasant trapped living paycheck to paycheck.Exactly I have an S10e

this

It’s the principle. If you’re only pulling in 3-4K per month then you sure as fuk shouldnt be buying 1k phones, $50-70 shirts, eating out often, etc.

Wealthy people are frugal and don’t splurge on these things because they know how overpriced goods are and that’s why corporations are valued in the billions

Colleges don’t teach personal finance because they don’t want the average pleb being able to extrapolate a proper budget and what constitutes spending with means taking into consideration paying off loans or saving up for a home and retirement

A bit off this thread but…

Pls don’t blame people’s failures on someone else. Everyone should have common sense (which I know is not very common)

It stupid if one can’t afford a $1k phone and still goes and buys it. Once in a while stupidity is allright and can be recovered from but habitual again and again - they need to wake the fuk up and stop blaming others…

Fuken don’t have money and still playing lotto and drinking beer every day. Sureeeeee it’s not their fault

No I am saying it’s on people to learn personal finance and budgeting themselves because no one else does it for you—it’s the principle of the system.

But the vast majority of people in their 20s with that first full time job will spend liberally because they don’t know any better at that age. Most people learn eventually to be frugal but only after they spent all their money without budgeting in their 20s. So in that respect it’s very much on the lack of education why people lack frugality.

But hurr, proper parenting and values taught by your seniors don’t influence the ethics of people as they become autonomous adults lmao

But that's the reason they're rich in the first place. Because they're good with money. If you're bad with money and always buy stupid chit you don't need, you'll never build any wealth

Who are these imaginary wealthy people who dont spend their money??? Its a myth so the peasants can feel equal.

There is a lot of these people than you’d think. We just don’t know cuz they don’t show

Like everything in life, there's a balance to this chit. I was a careercel, penny-pinching cuck in my 20s and regret it because I went overkill on the frugality side. Seeing more zeros by your investment account is kind of cool, but it's pretty meaningless beyond a certain point. That point btw, like vaginas, is lower than you think. Don't get me wrong, this is a better problem to have than to be 31 and be hundreds of thousands in debt, but I've also noticed it has become a semi-toxic ideology where I start to cringe at any sort of expense. That's how I know it's become a problem and am now learning to fix it.

My advice is definitely to try and excel in your career to the best of your ability/tolerance level because more income means more options. Additionally, try to save a bare minimum of 15% of your paycheck (ideally 20-25%) and budget accordingly from there. After all that is taken out of your paycheck, figure out a few luxuries you really want and/or things you use often enough to materially improve your life and don't skimp out when purchasing those things. The other stuff you can ignore. So for me, here are some examples of stuff that many people would say are frivolous but I value:

* Luxury Apartments/Housing in General
* Clothes
* International Travel
* Outdoor Activity/Fitness in general

Those are the things where I don't really skimp too much. I don't immediately pay full price for everything and still try to find deals/value where I can, but I also don't stop myself from paying for something that I like but is spendier than normal.

Some things a lot of people spend money on that I don't value and therefore skip out on:

* Luxury Vehicles
* Dining/Coffee/Buying Lunch (outside of obligatory social gatherings with friends)
* Cable TV/Excessive numbers of subscription services
* The Newest Smartphones/Gadgetry

You save up so you don't have to work.

There are lots of things money can't buy - talent, skill, knowledge

Why do you think my IQ is so high? I haven't been working for teh qwhite man.

Came in to say dopamine too. It’s like scoring points on a video game but the points is money in the game of life. There’s also a satisfaction in knowing your subjectively getting a good deal. It’s also a habit you wanna keep as many wealthy people got there by being money savvy, so they maintain habits that got them there as a reassurance and what not

It's conditioning. Some of them are set like that, because that's how they got to be relatively well off to begin with. To them, there's really never a point to say "okay this is enough money, time to enjoy it."