Reply to Alexandria Ocasio-Cortez moves into a luxury apartment complex

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[quote=Anonymous]AOC could benefit from reading the DCUM Money forum; her current spending habits pose a clear threat of future financial stress.

While she may be paid $168,000 now, it is only for two years.  To position herself financially should she not be re-elected, she should be living on her previous salary, net of taxes and adjusted for lower DC COL, and banking all the extra, contributing the $6000 max to a Roth IRA and setting aside between $50,000 to $100,000 in an emergency fund.  Of course she should be maxing her 401 K.  Don't know if she has student or credit card  loans, but if she does she should plan on paying them off completely during the next two years while she has the cash flow to do so.

This would allow her to go back to her previous salary in a better debt-free position with a cushion for emergencies.  Achieving this could leave no room for a luxury apartment, even if it is only Navy Yards and could point toward group housing for her and her boyfriend.  It could also make Uber, Starbucks, eating out, and shopping at Whole Foods luxuries she could afford only occasionally.

DCUM Money Forum would also recommend that she shop for clothes at thrift stores, limit haircuts to a few a year at Hair Cuttery, and buy groceries at Aldi, but I don't think there is one in DC.

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