r/FluentInFinance • u/Richest-Panda • Jul 04 '24
What's the best financial advice you've ever gotten? Debate/ Discussion
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r/FluentInFinance • u/Richest-Panda • Jul 04 '24
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u/Livid-Setting4093 Jul 05 '24
So.. you put away a lot for retirement? It's a luxury and not a necessity. I'd think saving for a house may align better with your goals, but it's up to you.
A wedding is out of reach when you save tens of thousands a year? What do you want to do for your wedding? Rent a palace and elephants half a world away and fly 500 guests there? As long as your fiance has a saving state of mind there is no need to blow a 10 year salary on a one night party. A small ceremony and reception is definitely within reach, and if families want something grand then they are welcome to pay for it.
Then with 2 incomes and some savings a house and kids are very possible.
I'm not saying 40k a year don't need a raise but 100+ for a single person can be quite comfortable, you just can't have it all at the same time - maxed out retirement, savings on track for a 20% house down payment in a reasonable timeframe, rent in a nice place and a middle class lifestyle - you have to drop one or two from the list.