Anyone live below their means?

[Anonymous]

We do in general. Put about 3500 into savings every month out side of not maxed out retirement. (We are saving for things we want to do sooner than that right now, alas). At our next salary adjustments (likely coming within the next year) we'll amp up the retirement to the Max.

[Anonymous]

We do. Both our houses are paid off and we dress very, very conservatively. No one would ever know how much money we have. We do find the label whores extremely amusing, however. They are the same people who just HAVE to have this or that - and find an excuse - and just HAVE to have a new car (probably leased, dumbasses) every few years. Most of our money is "tied up" so that luxurious spending (taking whomever out to dinner because we live in a new house? Yeah, right.) is NOT an option.

[Anonymous]

Anonymous wrote:We do. Both our houses are paid off and we dress very, very conservatively. No one would ever know how much money we have. We do find the label whores extremely amusing, however. They are the same people who just HAVE to have this or that - and find an excuse - and just HAVE to have a new car (probably leased, dumbasses) every few years. Most of our money is "tied up" so that luxurious spending (taking whomever out to dinner because we live in a new house? Yeah, right.) is NOT an option.

You sound super annoying.

To the point - yes. Live simply, high net worth.

[Anonymous]

We were doing pretty good until we bought a house and had a kid! Now the money just flows out like water.

[Anonymous]

Anonymous wrote:We do. Both our houses are paid off and we dress very, very conservatively. No one would ever know how much money we have. We do find the label whores extremely amusing, however. They are the same people who just HAVE to have this or that - and find an excuse - and just HAVE to have a new car (probably leased, dumbasses) every few years. Most of our money is "tied up" so that luxurious spending (taking whomever out to dinner because we live in a new house? Yeah, right.) is NOT an option.

Why would you take someone out to dinner if you live in a new house?

[Anonymous]

Anonymous wrote:We do. Both our houses are paid off and we dress very, very conservatively. No one would ever know how much money we have. We do find the label whores extremely amusing, however. They are the same people who just HAVE to have this or that - and find an excuse - and just HAVE to have a new car (probably leased, dumbasses) every few years. Most of our money is "tied up" so that luxurious spending (taking whomever out to dinner because we live in a new house? Yeah, right.) is NOT an option.

You sound like an ass.

[Anonymous]

We do, and I don't feel like were missing out. My DH is a financial planner, and very very frugal. Our retirement accts are fully funded, no mortgage, and our DC is at a parochial school. We also sleep well at night, my DH could never deal with living above our means.

[Anonymous]

Anonymous wrote:We did until our special needs kid necessitated private school tuition. But thank god we'd saved so much we can just manage this huge tuition bill every month using some buffer savings. But that's why you live under your means -- you never know what will pop up. And things do get more expensive as you age. Just dental work alone can cost thousands. By your mid-30s you can break teeth, need root canals, then teeth get pulled and all of a sudden you are into bridges and implants. Just one implant can be $5000 for a tooth. You will need/want your teeth. Long term health care, other types of insurance, it's just crazy what stuff costs.

So keep doing what you are doing and put everything you can away now. If you put it away now and later slack off at retirement you'll have more than the person who starts at 40.

Dental work is one of the most insidious and pernicious cause of financial ruin. I have never understood why this industry is permitted to prey upon society with huge out of pocket fees and the joke of "dental insurance". Premiums indeed pay for nearly nothing yet somehow, this goes on, unabated.

[Anonymous]

Anonymous wrote:We do. Both our houses are paid off and we dress very, very conservatively. No one would ever know how much money we have. We do find the label whores extremely amusing, however. They are the same people who just HAVE to have this or that - and find an excuse - and just HAVE to have a new car (probably leased, dumbasses) every few years. Most of our money is "tied up" so that luxurious spending (taking whomever out to dinner because we live in a new house? Yeah, right.) is NOT an option.

Douche.

[Anonymous]

Anonymous wrote:We were doing pretty good until we bought a house and had a kid! Now the money just flows out like water.

Yup, kids suck up money like a Hoover!

[Anonymous]

Please, living bellow your means is so 2009

[Anonymous]

Anonymous wrote:

Anonymous wrote:We did until our special needs kid necessitated private school tuition. But thank god we'd saved so much we can just manage this huge tuition bill every month using some buffer savings. But that's why you live under your means -- you never know what will pop up. And things do get more expensive as you age. Just dental work alone can cost thousands. By your mid-30s you can break teeth, need root canals, then teeth get pulled and all of a sudden you are into bridges and implants. Just one implant can be $5000 for a tooth. You will need/want your teeth. Long term health care, other types of insurance, it's just crazy what stuff costs.

So keep doing what you are doing and put everything you can away now. If you put it away now and later slack off at retirement you'll have more than the person who starts at 40.

Dental work is one of the most insidious and pernicious cause of financial ruin. I have never understood why this industry is permitted to prey upon society with huge out of pocket fees and the joke of "dental insurance". Premiums indeed pay for nearly nothing yet somehow, this goes on, unabated.

OMG. Just reading this makes me very thankful that my DD's implants will be paid for by insurance but only b/c it is due to congenital birth defects on her face. Ironic.

Holy moly - that price.

[Anonymous]

Anonymous wrote:Keep doing what you are doing. Your savings and investments are your key to freedom and happiness. Don't become yoked to a crappy, high paying job just so you can pay for unnecessary things to impress people who don't really like you for who you are.

This. The young professionals who live below their means in their 20s and early 30s are often the ones who can buy a condo with almost no mortgage, be way ahead on retirement savings, or be able to take on more "lifestyle" jobs in their later 30s and 40s. Savings afford you all kinds of options that you may not realize you want yet being only 7 yrs out of school.

[Anonymous]

It will buy you freedom later. I am 50, making 3x as much, and I see the 25 yr olds in my office buying stuff that I don't buy myself (lunch out, pricey coffees 2x a day, new smartphones). If they just banked that they would be sooooo glad later. I don't say much/anything (old nag rag bag down the hall) but they just can't see it or stop themselves I guess.

[Anonymous]

Anonymous wrote:It will buy you freedom later. I am 50, making 3x as much, and I see the 25 yr olds in my office buying stuff that I don't buy myself (lunch out, pricey coffees 2x a day, new smartphones). If they just banked that they would be sooooo glad later. I don't say much/anything (old nag rag bag down the hall) but they just can't see it or stop themselves I guess.

PP, you make 3x as much as whom? 3x what OP says she makes? What do you do for a living?