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I’m not saving ninety percent of my income for myself

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Re: I’m not saving ninety percent of my income for myself

#161
post #13

Answer: it's to support her parents' retirement.

I do not think this is accurate. While she does provide them with support, the article states that they actually need very little. She's saving a lot more than what's needed to support them.

They need her to buy them a house. That's not needing a little.

Re: I’m not saving ninety percent of my income for myself

#162
post #140

Earlier quoted context omitted.

Regarding culture superiority, I feel like it's just that the big and wealthy countries manage to spread their culture the most, and that's what catches on in the world. If jazz and hip-hop were invented in the Czech Republic instead of the US, there would be much larger chance of it staying just a local phenomenon, and the world would be taken over by some other cultural trend instead.

Possibly, but I'm not convinced. France and Germany spend lots of money to subsidize their artists, the French have gone so far to order radio stations to play a quota of French music - yet despite their wealth and their size (on the European level at least), they don't dominate culturally. That's not to say that it couldn't be random that a lot of the recent advancements happened in the US, I just don't find it like…

The problem with subsidised art (or subsidised anything really) is that the money in large part goes to the people who are well connected and great at weaseling their way into funding. So, there's a constant stream of always-mediocre French, German etc. (state-funded) movies in local artsy cinemas in Poland, which no one wants to watch, because they're mediocre.

In other words, the film makers are not subject to the market forces, they don't need to make something that the audience actually wants. The official stats of the PISF (polish state institute which funds movies) say that only 4 out of hundreds funded movies have recouped the state investment via tickets and other sales. The rests are flops, which is not a problem for anyone involved. That's how you get bad art.

Re: I’m not saving ninety percent of my income for myself

#163

Earlier quoted context omitted.

Once he placed the ring on her finger he accepted her terms .. as an American who hasn’t grown up with Asian cultural norms I would never marry someone with an obligation to take care of their parents also in America.

What kind of American? Multigenerational living is still routine among African Americans and Hispanic Americans, and pretty common among rural white Americans. The median distance an American lives from their mom is just 18 miles.

Upper middle class American. People who focus on accumulating and spending wealth on themselves tend to draw their circle quite narrowly.

Re: I’m not saving ninety percent of my income for myself

#164
post #12

I'm honestly so jealous of the husband's situation. 7-figure networth before hitting 30, a 4-bedroom home in a major tech hub, and a compulsively frugal wife who is obsessed with financial planning and amplifying your shared incomes/networths. The dream. This article just feels like a vector to drive traffic towards her sites, though.

Once he placed the ring on her finger he accepted her terms .. as an American who hasn’t grown up with Asian cultural norms I would never marry someone with an obligation to take care of their parents also in America.

That's odd to me, and I'm not sure how common it is. I would never have expected to have to take in my parents growing up, but now that I'm reaching middle age it definitely seems like not only something that may happen, but also a far better situation than the alternatives. If not me, perhaps a sibling could do it.

Also, my spouse's parents wouldn't necessarily require care, but honestly I'd really prefer if they came to live with us too.

I may be an outlier, but I see the nuclear suburban family lifestyle as a recipe for misery and loneliness. I look forward both to multigenerational living and to more dense walkable neighborhoods.

Re: I’m not saving ninety percent of my income for myself

#165
post #39

Earlier quoted context omitted.

> America, and indeed many countries in the world, do not have the social safety nets to take care of its own people when they can't work anymore. I don't see any good alternatives to having children take care of their parents. Abuse is common at even the most expensive nursing homes. You can't always blame the caretakers either because being constantly surrounded by grumpy, dying people has a huge psychological toll…

> You can't always blame the caretakers either What? There is absolutely no excuse for elder abuse. Are you kidding with this?

While I agree with you, it’s an extremely hard job for the reasons he stated. Low pay, dealing with nasty people, doing demeaning work. It’s not exactly a career most people choose.

Re: I’m not saving ninety percent of my income for myself

#166
post #134

Earlier quoted context omitted.

As marginal utility goes, though, it sounds like “spending more money” in this story includes things like “having more than one room to live in.” And, admittedly this was an inference rather than baldly stated, “nice vacations.” Money doesn’t just buy a different grade of items. It also buys a whole slew of novel experiences, of which you only get so many in your life. Yeah, some amount of spending can make you happi…

The ROI from vacations when your younger vs much earlier retirement seems to favor early retirement.

...and then you die at 35.

Live while you're alive. You don't know when the bus is going to come around that corner a little too fast.

Re: I’m not saving ninety percent of my income for myself

#167
post #12

I'm honestly so jealous of the husband's situation. 7-figure networth before hitting 30, a 4-bedroom home in a major tech hub, and a compulsively frugal wife who is obsessed with financial planning and amplifying your shared incomes/networths. The dream. This article just feels like a vector to drive traffic towards her sites, though.

I mean, I’m in a similar boat. I did the whole “make it rain” thing for a few years by dripping in designer clothes, fancy restaurants, etc. But that lifestyle made me way more anxious as impostor syndrome kicked in. Having money doesn’t really solve problems; there’s always someone with more who will make you feel poor. Buy a Gucci bag and it’ll feel like half the world is dripping bespoke Hermès. You can’t win. I l…

Ha I read this comment, then the article, and I got my first ad for Hermes!

Re: I’m not saving ninety percent of my income for myself

#168

The article misses out on the math though. She saves 90% percent of her income? So does she earn 80k after taxes? She would need to earn about 130k+ after taxes to save 90% of her income, given that she is the one who pays all the expenses, which at 1000$ per 3 people is hard to imagine. Even in a small German town, where things are dirt-cheap compared to Seattle, 1000$ for 3 persons is almost impossible. I don't lik…

It's not that hard. She rents the house she lives in for more than the cost of her mortgage. She makes income from that there. They don't own a car. Her husband gets a free bus pass from work. No housing or transportation expenses. So what's left? Food? Her husband works in tech (first Amazon, and now Google!) and saves 100% of his income. And they live off hers. They have like $1.7 million saved from his Amazon stoc…

The math is a lie because she isn't counting her living place's share of mortgage as part of that "10%"

Re: I’m not saving ninety percent of my income for myself

#169

Earlier quoted context omitted.

France is ahead in fashion and few other art forms. America is ahead in popular art because LA is the silicon valley of culture and has the population of Europe. After a certain point it's a language and population thing, and France has a language barrier compared to english.

I've never really understood fashion, so I can't comment on that (Whoever makes the models wear the most ridiculous outfit wins?). However, why isn't France going to Mars? Where is France (or Germany, or Sweden etc for that matter) creating the Internet, or GPS, or Hip-Hop, or Jazz, or doing cutting edge medical research? It's not that they don't do that at all - it just, that, if the safety net was such a strong dri…

I think you should vary your news sources, or pay more attention to the names. A large amount of cutting-edge research comes from EU universities and companies, especially Germany, the Netherlands, France, Switzerland, UK. Related business ventures will always pop up in the US first though, due to the vast investment capital.

Re: I’m not saving ninety percent of my income for myself

#170
post #42

Earlier quoted context omitted.

It feels like a recipe for marital disaster that she's living this extremely frugal lifestyle despite him making good money and he "goes along with it" (her words)

Wow, I can't count the number of men I've met that would want a wife that is extremely frugal. Also you're reading into the "goes along with it" a little bit too much - Literally inventing a whole relationship drama from 4 words is a bit insane.

I dunno, I’ve never seen a positive example of “compulsive frugality”. Obviously it’s not good to live beyond one’s means, but everyone I’ve ever known with money who would brag about their own cheapness was an utterly miserable bastard to be around. Obsessively saving money isn’t any more of a virtue than obsessively spending it, it’s just less explicitly self-destructive. Everyone I’ve ever known with money who valued their own extreme frugality or cheapness seemed like they were just feeding some sort of anxiety, or feeding their materialism and ego in a very roundabout way.
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