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Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home
- Thread starter kulapik
- Start date
Hiya Vlad! Hi comrade
Jack The Nipper
Banned
If you believe so then ok. But it isn't true.
If you believe the Internet is this vitle to living then you are more lost than you can even fathom.
Gonna get my dog the Internet.
Next your gonna tell me a hose is needed to live and clothes too!
but really, this mindset is why people are so robotic to me.I guess your joking
TheCochese
Banned
51k is more than I have in my 403b, and I've been putting in the maximum matching amount for the past eight years.
Alcotholic
Banned
Hahaha. I was pretty happy with my 10k in saving so I could move across the country and be unemployed for a while. But geez, I think I could live off of 51k for a few years. That could be very life changing. And having that knowledge of security is invaluable.
I was surprised that this wasn't a necrobump on an ancient thread, I swear I've seen this statement derided across the internet months ago.
It's a reference to a GOP lawmaker saying that people can't afford healthcare because they're buying iPhones. Obviously healthcare costs a bit more than that.
It's a reference to a GOP lawmaker saying that people can't afford healthcare because they're buying iPhones. Obviously healthcare costs a bit more than that.
efyu_lemonardo
May I have a cookie?
Internet obviously isn't vital in the same sense food and shelter are vital, but show me a person living a decent life in a western country that doesn't require Internet for email, information, paying bills and many other essentials?
smokeandmirrors
Banned
If you believe so then ok. But it isn't true.
If you believe the interest is this vitle to living then you are more lost than you can even fathom.
Gonna get my dog the Internet.
Nest your gonna tell me a hose is needed to live and clothes too!
Dude. Good luck getting a job without internet. Or paying bills or doing literally anything besides sleeping and eating without internet. It is so ingrained into society that not having it puts you at a huge detriment compared to your peers. Period. There is no debate on this.
And yes shelter is a fundamental human right.
Wolf Dawgz
Member
If you omitted buying yourself the $4 cup of coffee every day, then you could amass $51k in about 35 years. The point is that he is being misleading and ranting about other people's choices, when he got a huge headstart compared to other 19 year olds.
Jack The Nipper
Banned
People saying you have to have the Internet to live is completly ridiculous. Atleast say food or something. Jesus
You can actually live without a job believe it or not. You can work and live without money or even supermarkets. And you don't have to pay for the Internet which is the point. There are WiFi areas and places you can use it for these must most use situations that you feel you need.
You don't have to have the Internet, but let's let everyone in an apartment building buy thier own cause people make so so much sense.
Peoole oncology make no sense. Hey look, here are forty WiFi connections in my building. Does this really make sense.
My grandmother pays for nothing online btw.
LinkAndEpona
Banned
$34k buys a lot of avocados and electronics, an average car or an appropriate down payment for a home.
The people mocking him for this gift are still missing the point. The guy invested the money instead of fucking wasting it.
The people mocking him for this gift are still missing the point. The guy invested the money instead of fucking wasting it.
Ron Mexico
Member
Without question, we both believe we need to change the narrative going forward. Frankly, I wish I could do more about the present. Best I can offer is the attempts to dispel the 20% or bust, trying to educate those that I cross paths with in my credit union and the like. Not going to lie, even that is frustrating at many points. Even tried helping a GAFfer across the country with a refi and that was like pulling teeth with my mortgage people (and if you're reading this, I haven't forgotten about you). In the interim, you'll still find me in and around the finance threads doing what I can.
You're doing just fine, I'd say. Would love to be in your situation.
mrhyderager
Member
Yep. Uncontrolled food spending, particularly for "social eating" has been a major issue for me. I don't spend on other things. This presents two problems:
- I spend far more than I save
- My diet and therefore my figure are both terrible.
smokeandmirrors
Banned
Nope. Not ridiculous at all and stop yelling at clouds at a bona-fide fact of modern life.
efyu_lemonardo
May I have a cookie?
You're right, no more diamond encrusted golden selfy sticks for me! What was I thinking?
shira
Member
Fixed for canada
Snowybreak
Member
That might be more depressing.
Jack The Nipper
Banned
If you think any idea is right then your already lost. There are facts, very few and a lot of opinions and creations
You may not get it but money, ideas, even the way people die is. It concrete in absolute rights. You can have your perception about it all of course.
Septimus Prime
Member
Alright, Millennials! Let's kill the avocado industry to get those prices down.
smokeandmirrors
Banned
Alright keep sticking your head in the sand then. There is no arguing with you on this.
You are absolutely wrong.
BoosterDuck
Banned
bro you do realize 30 years ago was the 80's right
where everyone was buying overpriced sneakers, Walkmans, stereo systems, cable television, VCR's, HBO, designer clothes, Rolex's, gigantic jewelry, bottled water, transformers/ninja turtles/he-man and cartoon show toys, Macintosh's, fast food, new cars, cocaine, etc.
mrhyderager
Member
What country do you live in? In the US you absolutely cannot get away with not having internet for most jobs. My job REQUIRES internet. They even subsidize it. It's still an expense. They also require that I own a smartphone.
The point you're trying to make about apartment buildings requiring each home purchase their own service, I agree with. The technology exists now where a single router can provide connectivity to 100 devices. ISPs are given the lay of the land in terms of avoiding bulk accounts to maximize profits.
Fbh
Member
$19? I mean. Sure mabye the bio gold coated avocados that rich people buy.
But I doubt my $1 avocados are the reason I'm not rich.
True. I think being more responsible with money is allways a good advice. The amount of young people who are terrible at managing money is alarming. He obviously made smart choices since you could probably give 35k to 1000 people without any of them turning into millionaires.
Still, it's not a small amount of money and those $35k seems to have helped him way more than not buying avocados or stuff like that. I don't know anyone with family rich enough to give them 35k, hell with salaries like they are in my country the vast majority of people can't even save up that amount of money in their 30's even with hard work and smart spending. So mabye he should realize that he is comming from a place of privilege​.
But I doubt my $1 avocados are the reason I'm not rich.
True. I think being more responsible with money is allways a good advice. The amount of young people who are terrible at managing money is alarming. He obviously made smart choices since you could probably give 35k to 1000 people without any of them turning into millionaires.
Still, it's not a small amount of money and those $35k seems to have helped him way more than not buying avocados or stuff like that. I don't know anyone with family rich enough to give them 35k, hell with salaries like they are in my country the vast majority of people can't even save up that amount of money in their 30's even with hard work and smart spending. So mabye he should realize that he is comming from a place of privilege​.
efyu_lemonardo
May I have a cookie?
You're arguing on a rather philosophical level, wouldn't you say? I mean electricity is not vital, but could you realistically last a year without it?
Kite
Member
Gaf is gonna gaf, keep sneering at bootstraps and miss the overall message. I once calculated how much $$ I have wasted on on random geek shit throughout my life.. it is easily tens of thousands of $$. Replace avocados with steam sales, anime figurines and boxsets, gaming magazine subscriptions, my dvd collection and rebuying them on bluray.. subscribing to WoW when I barely play and going to cons.. Just cutt that shit in half and I could buy another car or start investing in some property -__-
jungomitis
Member
As a millenial to a millionaire.
Advocate for greater social fluidity and general welfare and then we can talk about what I eat.
Advocate for greater social fluidity and general welfare and then we can talk about what I eat.
Jack The Nipper
Banned
Or you have thoughts that you percieve in the way you do like almost every person does that also feel they are right or believe in something. After a while you can start to realize that when all people can't agrees on any one thing in this world that there aren't nearly as many absolutes as perceived ideas
People in china often tell me you must have a car to live, your idea is the same as theiers.. Just your own belife that you feel strongly about and can't see an alternative. Is it not easily possible to live without internet? I've done it many times. I don't use the intent to do anything that you said other than jobs. I don't pay anything through the Internet though. It's a convenience factor at best. But everyone cares this like you may.
You should argue the convenience factor perhaps for a better argument, but a must? It's ridiculous. You can use a neighbors, use the libary, or yes the unthinkable, not use the Internet which millions of people actually do. Do they lose some opportunity or even jobs cause of it? Sure.
Just cause you use it and feel it's needed doesn't mean it is you are pertaining your own to this too much. Your life, what you have done. But to say you need it is a huge exaggeration and just wrong.
My grandmother actually refuses to pay anything online. Guess I should let her know her life isn't even possible
Jack The Nipper
Banned
That's what I see and do. Sure. I agree friend.
But once you get to that point and see life clearly, you just can't go back to the drone repetition thinking in peoples life.
smokeandmirrors
Banned
Yeah no. You're still wrong and ignorant and I'm done trying to reason with you.
Your are wrong. It's not an opinion. You. Are. Flat. Out. Wrong.
And it's obviously different between someone just starting a career or adult life and someone on the tail end of life in terms of what is necessary to live.
Fbh
Member
So stop getting everything you enjoy from free times activities to food and vacations just for the sake of money?
No thx. I'd rather get my own house 10 years later but actually enjoy my life during those 10 years.
Now sure. If you earn $2000 a month and spend $800 of those on figures, blurays and videogames you are doing something wrong. But IMO setting aside a bit of you salary to spend on things you enjoy isn't a bad thing, even if over the years it turns into thousands of dollars spent in non essential stuff.
Astral Dog
Member
Jack The Nipper
Banned
If you can't even see work as a creation then you can't get it. I understand some people are more acceptable to the ideas and culture than others. I'd just say your quite kind and stuck in the way of life that you have been brought up in. Not saying it's bad and I'm not talking down to you, but you have already said the same words three times. I mean, the basic premise of your argument of wrong wrong, wrong. It's fine, doesn't matter as well. You have your thoughts and they will be as real to you as you allow them to be. That's what most people do and it's completly fine. I just feel the Internet thing is stretching it a bit. I could argue a home isn't needed to live but I'll give you that for the way people and thier minds get so much dependency.. But the intent. Nah, just can't say people must have that.
Yea okay dude. Cash your investments, pay the capital gains taxes, and we'll see whether you think 50 grand in after tax money is "easy" to save.
Just to chime in here: it's not just social eating or coffee-on-the-go that eats up a person's savings. Food itself has become more expensive over the past decade, due to the worsening exchange rate and the price of oil (which didn't result in a commensurate decrease when oil prices collapsed). That and the speculation of foodstuffs has made grocery bills even harder to stomach.
KyanMehwulfe
Member
Not entirely wrong per se.... Here in Van, most of my friends that complain about housing prices and can't get a mortgage also spend a shit load every week at Whole Foods lol. Avocados are usually $2 each at Urban Fare, $3 at Whole Foods, and seems like most of my friends eat them with every meal =p That said, it's a matter of pennies. Parking is like $4 an hour on Alberni; downtown stall rental can go from $150 to $250 a month. Avocados are pretty low hanging fruit in terms of budgetary savings (harharharh).
That said, arguing that X people are budgeting wrong to save for housing really has nothing to do with whether or not housing is still to expensive. It could even emphasize how ridiculous housing (a necessity) is when the proper budgeting strategy for it is to not eat healthy food.
Also, while quite a lot of my friends here cannot afford mortgages and do complain about housing, they're also not willing to sacrifice life quality for it -- housing is just lower on their priority list than having a healthy and enjoyable life. Especially when there is an economic argument for renting in a market that is, a) arguably overvalued, b) could face future volatility/devaluation, c) has property taxes so high that between monthly interest and property taxes (e.g. everything not principle being paid down) you're 'throwing away' more money than rent rates anyways, so whether you buy or rent, you're still throwing away $2-2.5k a month and could be using the 'principle part of your pmt for _any_ investment.
That said, arguing that X people are budgeting wrong to save for housing really has nothing to do with whether or not housing is still to expensive. It could even emphasize how ridiculous housing (a necessity) is when the proper budgeting strategy for it is to not eat healthy food.
Also, while quite a lot of my friends here cannot afford mortgages and do complain about housing, they're also not willing to sacrifice life quality for it -- housing is just lower on their priority list than having a healthy and enjoyable life. Especially when there is an economic argument for renting in a market that is, a) arguably overvalued, b) could face future volatility/devaluation, c) has property taxes so high that between monthly interest and property taxes (e.g. everything not principle being paid down) you're 'throwing away' more money than rent rates anyways, so whether you buy or rent, you're still throwing away $2-2.5k a month and could be using the 'principle part of your pmt for _any_ investment.
Harothewanderer
Member
Let them eat cake.
smokeandmirrors
Banned
Yeah let's focus on what those DIRTY poors are doing and buying. Don't mind the assholes behind the curtain stealing money and destroying the planet. It's those dirty poor people buying things that make life at least somewhat livable and enjoyable that are the real problem.
Old Rich Man yelling at cloud.
Nobody buys 19 dollar avocados. Shows how out of touch he is.
Ron Mexico
Member
There's a fallacy in C. If you find a rental for less than the property taxes on that property, the landlord is losing money and that's not going to happen. While expensive, mortgages also have a light at the end of the tunnel in which you will ultimately own the home and no longer be paying that interest portion. There's also the tax benefits (at least stateside) but it becomes a bit more abstract to illustrate in a message board post.
None of which takes away from your first 2 points, as every market is different and will present its own challenges.
By the way this guy is a developer/real estate mogul. You know those millennials being priced out of the housing market? Guess who's profiting off of it hands over fist.
But let's keep bending over backwards to bring up how this guy actually has a really good, novel, insightful point and it's incredible how many people haven't figured out this one simple trick.
But let's keep bending over backwards to bring up how this guy actually has a really good, novel, insightful point and it's incredible how many people haven't figured out this one simple trick.