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PDU
travel kid vs.amerika



Registered: 12/03/02
Posts: 10,675
Loc: beautiful BC
Last seen: 8 years, 4 months
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How much money does the average 22yr old have?
#7410843 - 09/14/07 08:30 PM (16 years, 4 months ago) |
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Student, worker, tradesman? - should i have savings? do you live paycheque to paycheque?
-------------------- GO OUTSIDE.
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ToTheSummit
peregrinus



Registered: 08/22/99
Posts: 9,126
Loc: Las Vegas
Last seen: 7 hours, 11 minutes
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Re: How much money does the average 22yr old have? [Re: PDU]
#7410857 - 09/14/07 08:33 PM (16 years, 4 months ago) |
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At 22 few people have much in the way of assets or savings. Its a great time to live free and discover the path you want to tread.
If you still have nothing in 20 years you can worry a little.
If you still have nothing in 40 years then I hope you enjoy dog food.
-------------------- You invented the wheel....You push the motherfucker!!
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WhiskeyClone
Not here



Registered: 06/25/01
Posts: 16,509
Loc: Longitudinal Center of Canada ...
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Re: How much money does the average 22yr old have? [Re: PDU]
#7410863 - 09/14/07 08:34 PM (16 years, 4 months ago) |
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I'm 26 and I live paycheque to paycheque. I save money in RRSP every paycheque.
-------------------- Welcome evermore to gods and men is the self-helping man. For him all doors are flung wide: him all tongues greet, all honors crown, all eyes follow with desire. Our love goes out to him and embraces him, because he did not need it. ~ R.W. Emerson, "Self-Reliance"
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djcube
Backwoods Shaman



Registered: 12/11/02
Posts: 572
Loc: Alaska
Last seen: 3 years, 5 months
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Re: How much money does the average 22yr old have? [Re: WhiskeyClone]
#7410878 - 09/14/07 08:39 PM (16 years, 4 months ago) |
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I am 21 and make 35G a year. No savings and mostly paycheck to paycheck.
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AnotherDimension
Wanderer in the Land of the Lost

Registered: 06/14/04
Posts: 533
Loc: USA
Last seen: 15 years, 2 days
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Re: How much money does the average 22yr old have? [Re: djcube]
#7410913 - 09/14/07 08:50 PM (16 years, 4 months ago) |
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One hundred and fifty THOUSAND dollars.
-------------------- Another Dimension --------------------------- "Come, and trip it as ye go, On the light fantastick toe."
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SlvrZeta
~Asi



Registered: 09/14/07
Posts: 200
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Re: How much money does the average 22yr old have? [Re: AnotherDimension]
#7411145 - 09/14/07 09:58 PM (16 years, 4 months ago) |
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If you're smart you would invest at least 10-15% of your monthly salary into stocks or mutual funds. Aim for the long term, 20 years or so. You can easily be a millionaire by the time you're 45 if you start putting some freakin money into something.
People don't get rich working, normally speaking. People get rich because they make money work FOR them.
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DieCommie


Registered: 12/11/03
Posts: 29,258
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Re: How much money does the average 22yr old have? [Re: PDU]
#7411407 - 09/14/07 10:51 PM (16 years, 4 months ago) |
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There is no excuse to not have 6 months worth of income in savings. Not for retirement, but for emergencies.
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tiny_rabid_birds
Nocturnal



Registered: 11/08/05
Posts: 15,653
Loc: estados unidos
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Re: How much money does the average 22yr old have? [Re: DieCommie]
#7411746 - 09/15/07 01:17 AM (16 years, 4 months ago) |
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Quote:
DieCommie said: There is no excuse to not have 6 months worth of income in savings. Not for retirement, but for emergencies.
no excuse?? hahaha!! how about being fucking thousands of dollars in debt due to educational loans? or how about being a full-time student with a part-time job and having to support yourself entirely? i think those are pretty good excuses. some people don't have the luxury of having money left over to put into savings.
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SlvrZeta
~Asi



Registered: 09/14/07
Posts: 200
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Re: How much money does the average 22yr old have? [Re: tiny_rabid_birds]
#7411750 - 09/15/07 01:20 AM (16 years, 4 months ago) |
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Bullshit.
I'm $65k in student loan debt. I work a PT job. I still manage to put, at a minimum, of $150 a month into stocks and mutual funds.
compound interest is amazing. study it carefully, its the most useful formula you will ever need in your life.
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tiny_rabid_birds
Nocturnal



Registered: 11/08/05
Posts: 15,653
Loc: estados unidos
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Re: How much money does the average 22yr old have? [Re: SlvrZeta]
#7411755 - 09/15/07 01:26 AM (16 years, 4 months ago) |
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well maybe you got a better deal on rent or something then, because i really cannot afford to stow away $150 a month.
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Viveka
refutation bias


Registered: 10/21/02
Posts: 4,061
Last seen: 7 years, 3 months
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Re: How much money does the average 22yr old have? [Re: SlvrZeta]
#7411756 - 09/15/07 01:26 AM (16 years, 4 months ago) |
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How do you have $65,000 in student loan debt?
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DieCommie


Registered: 12/11/03
Posts: 29,258
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Re: How much money does the average 22yr old have? [Re: tiny_rabid_birds]
#7411869 - 09/15/07 02:37 AM (16 years, 4 months ago) |
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You should still have a 6 month savings fund. Doesnt matter if you have student loans or not. Taking out student loans is fine because you are borrowing against something that appreciates like a house (your marketability). But you should still be able to save away around 6 months worth of income, even if it means two jobs and take off one semester.
Then you have an emergency fund in case something life changing happens. You also can self insure and self warranty small things which means you keep more of your paycheck in the long run.
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nakors_junk_bag
Lobster Bisque



Registered: 11/23/04
Posts: 2,415
Loc: ethereality
Last seen: 15 years, 9 months
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Re: How much money does the average 22yr old have? [Re: DieCommie]
#7411883 - 09/15/07 02:43 AM (16 years, 4 months ago) |
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what if you just had an emergency, like lawyer fees? Is it OK then to not have 6 months income saved up?
Quit being foolish, there are thousands of reasons to not have 6 months income saved up.
Being an unyielding hard ass is cool to some extent, but not much.
-------------------- Asshole
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DirtMcgirt
in a pinch



Registered: 10/20/04
Posts: 2,213
Loc: city of angels
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Re: How much money does the average 22yr old have? [Re: PDU]
#7411893 - 09/15/07 02:48 AM (16 years, 4 months ago) |
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None to very little, IME
-------------------- "And we, inhabitants of the great coral of the Cosmos, believe the atom (which still we cannot see) to be full matter, whereas, it too, like everything else, is but an embroidery of voids in the Void, and we give the name of being, dense and even eternal, to that dance of inconsistencies, that infinite extension that is identified with absolute Nothingness and that spins from its own non-being the illusion of everything."
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truekimbo2
Cya later, friends.



Registered: 12/08/02
Posts: 9,234
Loc: ny
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Re: How much money does the average 22yr old have? [Re: DirtMcgirt]
#7411910 - 09/15/07 02:59 AM (16 years, 4 months ago) |
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yeah, a year ago i had nothing. i have nothing today.
if i have more than a hundred dollars at a time thats not going to rent, i consider myself rich
-------------------- You can check the last post in my journal for contact info.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: How much money does the average 22yr old have? [Re: SlvrZeta]
#7411916 - 09/15/07 03:05 AM (16 years, 4 months ago) |
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Quote:
SlvrZeta said: Bullshit.
I'm $65k in student loan debt. I work a PT job. I still manage to put, at a minimum, of $150 a month into stocks and mutual funds.
compound interest is amazing. study it carefully, its the most useful formula you will ever need in your life.
Unless you're earning more interest on your savings than you're paying on your debt (which is unlikely) you're the one that needs to go back to math class.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Adom
Totally Nude


Registered: 09/30/01
Posts: 10,877
Loc: Way Up North
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Re: How much money does the average 22yr old have? [Re: PDU]
#7411919 - 09/15/07 03:06 AM (16 years, 4 months ago) |
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debt.
that's it.
in short, not as much as me.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: How much money does the average 22yr old have? [Re: Viveka]
#7411921 - 09/15/07 03:06 AM (16 years, 4 months ago) |
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Quote:
Viveka said: How do you have $65,000 in student loan debt?
Shit, that's the way the game is played in America.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Adom
Totally Nude


Registered: 09/30/01
Posts: 10,877
Loc: Way Up North
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Re: How much money does the average 22yr old have? [Re: TheFakeSunRa]
#7411924 - 09/15/07 03:07 AM (16 years, 4 months ago) |
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I know people 100,000$ in debt who run numeric hammers.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: How much money does the average 22yr old have? [Re: DieCommie]
#7411926 - 09/15/07 03:08 AM (16 years, 4 months ago) |
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Quote:
DieCommie said: You should still have a 6 month savings fund. Doesnt matter if you have student loans or not. Taking out student loans is fine because you are borrowing against something that appreciates like a house (your marketability). But you should still be able to save away around 6 months worth of income, even if it means two jobs and take off one semester.
Then you have an emergency fund in case something life changing happens. You also can self insure and self warranty small things which means you keep more of your paycheck in the long run.
When you're in debt the first thing you need to do is pay off the debt. Start saving when you get up to zero.
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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