How many people do you think have cash saved up?

[Anonymous]

M-, ordinarily, I would research the numbers and drum up a graph, but my feelings are still hurting from lk calling me a cockroach and Rustico calling me an inferior-to-him Christian.

[Anonymous]

M-, ordinarily, I would research the numbers and drum up a graph, but my feelings are still hurting from lk calling me a cockroach and Rustico calling me an inferior-to-him Christian.

[an]

There are very few young people in San Diego who have any cash. The only way they would have any significant amount of cash (i.e. over 100k) would be:

1. inheritance
2. bought real esate prior to 2003 and cashed out

3. live below your means and save at least $2k/month. After 4 years, you’ll have close to $100k.

[an]

There are very few young people in San Diego who have any cash. The only way they would have any significant amount of cash (i.e. over 100k) would be:

1. inheritance
2. bought real esate prior to 2003 and cashed out

3. live below your means and save at least $2k/month. After 4 years, you’ll have close to $100k.

[HereWeGo]

Or thereabouts.

[HereWeGo]

Or thereabouts.

[blahblahblah]

Speaking of where all the young folks’ money is going, did anyone catch this LA times article about that new Ivy hotel downtown? Whoever put up the money for this thing really doubled down — I stopped in for a drink about a week ago and it is top-notch everything on the inside. On Saturday there was a line around the block to get into the place. I can’t believe people are willing to spend $400 a night to stay in downtown SD with the crackheads and bums, but to each his own I guess…

[blahblahblah]

Speaking of where all the young folks’ money is going, did anyone catch this LA times article about that new Ivy hotel downtown? Whoever put up the money for this thing really doubled down — I stopped in for a drink about a week ago and it is top-notch everything on the inside. On Saturday there was a line around the block to get into the place. I can’t believe people are willing to spend $400 a night to stay in downtown SD with the crackheads and bums, but to each his own I guess…

[meadandale]

@asiannautica

That’s pretty funny. Throughout my 20’s and early thirties, my net wasn’t even 2k/month. I’d have had a hard time saving that much. Even now, I’d have a hard time saving 2k/month.

[meadandale]

@asiannautica

That’s pretty funny. Throughout my 20’s and early thirties, my net wasn’t even 2k/month. I’d have had a hard time saving that much. Even now, I’d have a hard time saving 2k/month.

[an]

Of course if you don’t net $2k/month, it’ll be impossible to save $2k/month. But for a mid 20s couple making $130-150k/yr, it’s definitely possible. That’s including maxing out 401k & Roth IRA.

[an]

Of course if you don’t net $2k/month, it’ll be impossible to save $2k/month. But for a mid 20s couple making $130-150k/yr, it’s definitely possible. That’s including maxing out 401k & Roth IRA.

[meadandale]

@asiannautica

I don’t know many mid 20’s couples who have a combined income of $150k or anywhere close to that. I’d be surprised if there were that many of them are topping $100k combined.

[meadandale]

@asiannautica

I don’t know many mid 20’s couples who have a combined income of $150k or anywhere close to that. I’d be surprised if there were that many of them are topping $100k combined.

[sdrealtor]

Just one data point but I met with the son of a client last week. He’s 2 years out of college, works in Biotech and makes 45k/year. He’s lived with Mom the last years and saved about $40,000 in the bank and wanted to buy something. BTW, My advice was stay at home or find an apartment while you build your career. Great start with the saving but need higher income. Wait out the market a couple years as downside risk could easily wipe out all you have accomplished saving the last 2 years.

[Author]

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