It’s called “living below your means and saving money”. No matter where you are in the US, as software engineers you are probably making well above the median income for your location. You should be able to save an emergency fund.
> It’s called "living below your means and saving money".
… or living well above your means in the time of asset bubbles left and right?
Let's say you and your buddy both make $125K.
If you bought a small $100K serious-fixer-upper house in order to live below your means in 2019 and your buddy bought a large $600K house at the same time which he could barely afford, then who would have "saved" more by mid-2021 when you both sold at 2X valuation?
At some point "living below your means and saving money" needs to turn into "you need to spend money to make money".
"Saving" does not protect you from inflation and it is of nearly zero value in the case of hyperinflation.
scarface74|3 years ago
acuozzo|3 years ago
… or living well above your means in the time of asset bubbles left and right?
Let's say you and your buddy both make $125K.
If you bought a small $100K serious-fixer-upper house in order to live below your means in 2019 and your buddy bought a large $600K house at the same time which he could barely afford, then who would have "saved" more by mid-2021 when you both sold at 2X valuation?
At some point "living below your means and saving money" needs to turn into "you need to spend money to make money".
"Saving" does not protect you from inflation and it is of nearly zero value in the case of hyperinflation.
qbasic_forever|3 years ago