Author Topic: CNN Money Article  (Read 2415 times)

mies

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CNN Money Article
« on: May 06, 2016, 05:54:20 PM »
http://money.cnn.com/2016/05/06/investing/how-i-bought-house-age-25/index.html?iid=hp-stack-dom

It sounds like she has her shit together :) I wish I had been that forward thinking when I was young.
« Last Edit: May 07, 2016, 08:25:05 AM by mies »

Drifterrider

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Re: CNN Money Article
« Reply #1 on: May 12, 2016, 09:41:17 AM »
Per the article she is only contributing 6% of her salary to her employer sponsored 401K. 

mies

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Re: CNN Money Article
« Reply #2 on: May 12, 2016, 04:07:21 PM »
And she also started an IRA when she was 18. IRA's weren't even on my radar when I was 18. Sure, she has a long way to go before she reaches the level of savings that people around here are doing, but she will probably be in better shape than most. If she ever gets the early retirement itch, she'll be already be further ahead than someone like me who didn't even consider saving for retirement until I was 32.

MrMoogle

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Re: CNN Money Article
« Reply #3 on: May 13, 2016, 09:53:27 AM »
If her company's 401k only has 1%+ ER's, then I would only put in the match too, until I had my IRA maxed, then I'm not so sure what I'd do...

I'm a red panda

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Re: CNN Money Article
« Reply #4 on: May 13, 2016, 12:46:45 PM »
Per the article she is only contributing 6% of her salary to her employer sponsored 401K.

Which is 6% more than most people.


Clearly my peer group is skewed, most people I knew bought a house a year or two after college, so 23-25 for their first house. This article doesn't seem that impressive.

mies

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Re: CNN Money Article
« Reply #5 on: May 13, 2016, 03:43:38 PM »
Man this is a tough crowd.

ketchup

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Re: CNN Money Article
« Reply #6 on: May 13, 2016, 03:51:04 PM »
25 doesn't seem that crazy to buy one's first house.  I bought my second at 24, and still have the first as a rental.  And I make less than her (no student loans though).

I mean it's hard to argue with "work hard, save a lot, and buy property you can afford."

But "She drives an older car, a 2009 Ford Escape SUV with 'a big old dent.'"   Uh...

I'm not saying she's an idiot or anything but it just doesn't seem too remarkable.

Capsu78

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Re: CNN Money Article
« Reply #7 on: May 13, 2016, 04:54:32 PM »
The Millenials need more stories like this... sure everything is not MMM optimized but the lady knows math putting her as a 1%er of her peers...I place a $2 bet she manages to stay there as her group ages.