Did everything right but still not upwardly mobile

[Anonymous]

I did everything right but I’m still not upwardly mobile. I have a similar background to many posters here.

[Anonymous]

I am sure that you live better than 99% of the people on Earth.

[Anonymous]

Your mistake is thinking that all you needed to do was "do everything right". It doesn't work like that. A lot of it is just dumb luck. Also, you probably forgot about compound interest.

[Anonymous]

If you are not living pay check to paycheck, consider yourself lucky. Money and prestige don' t really mean much.

Do you have a meaningful life? I think that is more important.

[Anonymous]

It is self-evident that you didn't do everything right in relation to your ambitions.

[Anonymous]

"Upwardly mobile" is a goal. "Successful" or "personally fulfilled" are goals. "Happy" is another one. I wonder what you are going for exactly. I think we'd all like some more money, but what for? And what are you willing to trade for it.

[Anonymous]

I hate to break it to you, but you didn’t do everything right. How old were you when you bought your first house? How old were you when you bought your move up house? Did you ever do a cash out refi?

What age did you start contributing to your 401k. What percent do you contribute now?

How much student debt did you graduate with? What is your career?

My guess is the error is in those questions.

[Anonymous]

Anonymous wrote:I hate to break it to you, but you didn’t do everything right. How old were you when you bought your first house? How old were you when you bought your move up house? Did you ever do a cash out refi?

What age did you start contributing to your 401k. What percent do you contribute now?

How much student debt did you graduate with? What is your career?

My guess is the error is in those questions.

I hear the sound of intergenerational wealth who thinks they are awesome because they got from 3rd to home.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hate to break it to you, but you didn’t do everything right. How old were you when you bought your first house? How old were you when you bought your move up house? Did you ever do a cash out refi?

What age did you start contributing to your 401k. What percent do you contribute now?

How much student debt did you graduate with? What is your career?

My guess is the error is in those questions.

I hear the sound of intergenerational wealth who thinks they are awesome because they got from 3rd to home.

I am more successful than I should be. Gen X. Better off than my own parents, as are my siblings. Lots of privilege - we grew up white, middle class, but not like "wealth passed down" as in house down-payment. I am interested in the generations behind me and what their experience has been. My feeling has been that my parents generation had it easy AF. As in if you were white, male, and not successful, you must not have been thinking clearly. I guess retrospect is 20/20, but it looks to me like the path was laid and all you had to do was take it. I feel badly for the younger generations.. i think it's not like that for them at all, and especially not even nearly the same for minorities and black people in any generation. Yeah, we have black families with generational wealth, but imagine what that took. Wow!

[Anonymous]

Anonymous wrote:Your mistake is thinking that all you needed to do was "do everything right". It doesn't work like that. A lot of it is just dumb luck. Also, you probably forgot about compound interest.

Yes, even when you do everything right, if you didn't have opportunity, then you won't necessarily be upwardly mobile. Sometimes just being in the right place at the right time makes all the difference in the world.

[Anonymous]

OP - can you give us some more detail on your situation?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hate to break it to you, but you didn’t do everything right. How old were you when you bought your first house? How old were you when you bought your move up house? Did you ever do a cash out refi?

What age did you start contributing to your 401k. What percent do you contribute now?

How much student debt did you graduate with? What is your career?

My guess is the error is in those questions.

I hear the sound of intergenerational wealth who thinks they are awesome because they got from 3rd to home.

You are responding to my post. Definitely no inter generational wealth. I support to some extent both of my parents.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your mistake is thinking that all you needed to do was "do everything right". It doesn't work like that. A lot of it is just dumb luck. Also, you probably forgot about compound interest.

Yes, even when you do everything right, if you didn't have opportunity, then you won't necessarily be upwardly mobile. Sometimes just being in the right place at the right time makes all the difference in the world.

Opportunity does not necessarily mean luck. It can mean creating conditions for things to happen, starting with educational accomplishments, choice of employment, spending/saving habits, choosing where to live, choosing who to marry, and many other factors within one's control. Making choices leads to opportunities or to their absence.

[Anonymous]

OP, can you give more details. You are in America and there’s always a chance to do more. Unless you are 90+ you have time!

[Anonymous]

Anonymous wrote:I did everything right but I’m still not upwardly mobile. I have a similar background to many posters here.

Not everything is about wealth, possessions or prestige.