Comments on: Is Living Cheap Really Worth It? Ask Alan and Bob http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/ Simple, applicable personal finance advice for the modern world Sat, 21 Nov 2009 14:05:16 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Claire Fuller http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-525392 Claire Fuller Wed, 18 Feb 2009 16:55:08 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-525392 I've been saving 10% ever since I was a school teacher at 24 yrs old making 20K/yr. My 403B mutual funds don't make that much. Although my realestate did quite well during the boom. I’ve been saving 10% ever since I was a school teacher at 24 yrs old making 20K/yr. My 403B mutual funds don’t make that much.
Although my realestate did quite well during the boom.

]]> By: rk http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-444806 rk Sat, 20 Dec 2008 20:24:30 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-444806 this is a good article, and I believe in setting aside 10% of your income yearly (more if you can afford it), but the problem is that few IRA's pay 10% (most are 7 or 8%) and the market fluctuates a good deal. Also, there are very few industries where you can count on a yearly 4% raise. this is a good article, and I believe in setting aside 10% of your income yearly (more if you can afford it), but the problem is that few IRA’s pay 10% (most are 7 or 8%) and the market fluctuates a good deal. Also, there are very few industries where you can count on a yearly 4% raise.

]]> By: liko http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-280602 liko Mon, 19 May 2008 21:06:31 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-280602 I was a below average student and was making $60k at the age of 25. Pretty much all my friends from school (average state college - WSU) made over $50k by the time they were 25. All it takes is a 4 year degree in MIS, Computer Science, or any Engineering major and it almost guarantees you that kind of a salary by the time you're 25. Or, if you don't like school just an union electrical apprenticeship and you'll be make close to 80k by the time you're 25 (my brothers did that). I was a below average student and was making $60k at the age of 25. Pretty much all my friends from school (average state college – WSU) made over $50k by the time they were 25. All it takes is a 4 year degree in MIS, Computer Science, or any Engineering major and it almost guarantees you that kind of a salary by the time you’re 25.

Or, if you don’t like school just an union electrical apprenticeship and you’ll be make close to 80k by the time you’re 25 (my brothers did that).

]]> By: Reality http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-275388 Reality Tue, 13 May 2008 15:01:00 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-275388 What about REAL people who only make 20-25K per year?? "Let’s take a look at Alan and Bob. Both are 25 years old, both are making $50,000 a year, and both will be receiving 4% raises each year." OK, What Planet are Alan and Bob living on?? I can't be Earth because I dont know of ANY 25 year olds with jobs that pay $50,000 a year!! What about REAL people who only make 20-25K per year??

“Let’s take a look at Alan and Bob. Both are 25 years old, both are making $50,000 a year, and both will be receiving 4% raises each year.”

OK, What Planet are Alan and Bob living on?? I can’t be Earth because I dont know of ANY 25 year olds with jobs that pay $50,000 a year!!

]]> By: divorced guy http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-64703 divorced guy Fri, 31 Aug 2007 17:15:57 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-64703 You left out the part about "live without the extras, save and invest, pay off the house early" and THEN get raped by the court system as the ugly EX wife, who never made a mortgage payment or paid a bill, gets 90% of the house equity, 35% of your income, and lives like a queen, while you eat dogfood, suffer bad health care, and live in a trailer house for the next 20 years. FORGET SAVING! Spend it...at least you'll get to enjoy it SOMETIME in your life! You left out the part about “live without the extras, save and invest, pay off the house early” and THEN get raped by the court system as the ugly EX wife, who never made a mortgage payment or paid a bill, gets 90% of the house equity, 35% of your income, and lives like a queen, while you eat dogfood, suffer bad health care, and live in a trailer house for the next 20 years. FORGET SAVING! Spend it…at least you’ll get to enjoy it SOMETIME in your life!

]]> By: Shauna http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-23767 Shauna Tue, 08 May 2007 01:45:50 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-23767 The principle makes a lot of sense, I just believe it can be taken further. I'm currently contemplating a career change that would allow me to make just about what "Alan" and "Bob" are making at the same age. The difference is that I am used to living on about $25,000/year and I intend to continue to do so and put the additional $25k towards debt reduction and savings. About 10 years of this will allow me to buy the loft of my dreams and enjoy a comfortable mid-life as well as retirement. The principle makes a lot of sense, I just believe it can be taken further. I’m currently contemplating a career change that would allow me to make just about what “Alan” and “Bob” are making at the same age. The difference is that I am used to living on about $25,000/year and I intend to continue to do so and put the additional $25k towards debt reduction and savings. About 10 years of this will allow me to buy the loft of my dreams and enjoy a comfortable mid-life as well as retirement.

]]> By: Joel http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-22338 Joel Wed, 02 May 2007 19:20:14 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-22338 Great Article. Terry, Sell things on Ebay, Day trade, maintain a blog. Find something you're good at that you enjoy that doesn't take too much time out of your day, and use it to earn a supplemental income. Also, take advantage of any government programs for low-wage earners to lower your expenses or increase your income. Great Article.

Terry, Sell things on Ebay, Day trade, maintain a blog. Find something you’re good at that you enjoy that doesn’t take too much time out of your day, and use it to earn a supplemental income. Also, take advantage of any government programs for low-wage earners to lower your expenses or increase your income.

]]> By: Terry http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-649 Terry Tue, 05 Dec 2006 08:29:36 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-649 I earn my state minimum wage and have student loan payments to make. How am I supposed to spend less than I earn and invest the rest??? I earn my state minimum wage and have student loan payments to make. How am I supposed to spend less than I earn and invest the rest???

]]> By: Wanda http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-637 Wanda Tue, 05 Dec 2006 03:12:44 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-637 I always think that "I'll never look as good as I do now... so I better get that cashmere sweater!" But (usually) the voice of reason wins out. ;) I always think that “I’ll never look as good as I do now… so I better get that cashmere sweater!” But (usually) the voice of reason wins out. ;)

]]> By: Harm http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-620 Harm Mon, 04 Dec 2006 22:16:31 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-620 The column doesn't say you shouldn't spend ANY money when you're young, just that you should save 10%. One other thing, is Bob spending 10% of the income from his savings? If that is an IRA, it might be hard. Much better to keep reinvesting.... Living like the grasshopper in the fable, eh, Erik? Believe me, when you're 60 or 65, you (MOST likely) won't be quite ready to "bask in the recliner", LoL The column doesn’t say you shouldn’t spend ANY
money when you’re young, just that you should save
10%. One other thing, is Bob spending 10% of the
income from his savings? If that is an IRA, it might
be hard. Much better to keep reinvesting….
Living like the grasshopper in the fable, eh, Erik?
Believe me, when you’re 60 or 65, you (MOST likely)
won’t be quite ready to “bask in the recliner”, LoL

]]> By: Erik http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/comment-page-1/#comment-611 Erik Mon, 04 Dec 2006 20:57:49 +0000 http://www.thesimpledollar.com/2006/12/04/is-living-cheap-really-worth-it-ask-alan-and-bob/#comment-611 What about the argument that you'll get more enjoyment out of your money while you're young and spry (when you can travel or skydive or party) than you would when your body is rapidly disintegrating and all you want to do is bask in the recliner (should you even make it that long...)? What about the argument that you’ll get more enjoyment out of your money while you’re young and spry (when you can travel or skydive or party) than you would when your body is rapidly disintegrating and all you want to do is bask in the recliner (should you even make it that long…)?

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