Reply to YOLO vs savings - please share your stories

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I like having enough money that i do not need to worry about being able to afford important things.  [b]I would YOLO if I lived in Scandinavia [/b]or some other civilized country.  U feel that USA is pretty brutal to its poorer citizens so I save enough to be able to live relatively worry free here.  Money removes a lot of stress and unless one is born rich being frugal is the most straightforward way of generating some safety buffer.[/quote]

Do you know that Scandinavians have some of the highest personal debt amounts in the entire world?  They are debt slaves.  They also have way less freedom to retire early or do anything remotely different from their peers.  You do what the system tells you to do.  The way the tax system works you have to take it as large of a mortgage as you can possibly obtain.  It’s hardly a perfect place since almost all women have to work to pay for their huge mortgage.  They have a much lower disposable income amount as well.  The fact you think there is less stress about money in a Scandinavian country is laughable.  [/quote]
The government forces people to take a mortgage and to do so in an amount they can barely afford? That doesn’t make any sense. [/quote]
I think PP is confused. You are not required to buy or take a loan in a certain amount. Sweden has income requirements for loans like we do here. Real estate is expensive there, that’s all. Also, I believe women work there because the country makes it easy to do so—women want to work. The maternity leave and paternity leave policies make having a balanced life easier. Yes, taxes are brutal, but you won’t lose your home because you get cancer. I have a German friend whose parents can use their money for what they want because their retirement is taken care of. Can you even imagine? I know they are taxed at a higher rate, but the rate of elderly poverty in this country precisely because retirement is so impossible to save for is disturbing. [/quote]

I lived there for some time and yes, very few women don't return to work, but the small sliver of wealthy people in the country, do SAH . We did have to go  Germany to get our child a simple T&A. He was having chronic strep throat and was on a waitlist for 8 months before we could get him surgery. Flew over to Germany and paid 4k out of pocket to get it done.  The waits times for treatment were unacceptable to my American expectations. [/quote]

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