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Author Topic: Failing To Understand Money  (Read 345 times)
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Pi
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« on: September 17, 2015, 01:17:08 PM »

http://elitedaily.com/life/savings-20s-something-wrong/1214445/

I couldn’t enjoy my life because I was too busy worrying about my bank statement. I was too busy watching my savings instead of savoring my youth.

Why did I feel so guilty about spending money on myself and my life?

When did our 20s start to feel like our 40s? When did we get weighed down with the same pressure and stresses as a woman with four kids and a second mortgage?

We don’t have kids. We’ll be renting for the foreseeable future, and we have no problem eating McDonald’s when we’re skint.

I’ve recently figured it out: This pressure, this third-party stress, is ingrained within us. It’s this looming doom our parents carved into our unconscious, only to come out anytime we make an impulse purchase or have to spend the night without Netflix.

But like most things our parents have ingrained in us, we must consciously work to push it out. Because while they may have the best intentions, they don’t always have the best insight.


An all too familiar refrain: our parents don't have all the answers and we're going to disregard their teachings.  The Gods of the Copybook Headings won't be as kind as her parents.

Despite the fact that this young lady claims she has a college degree, I have to wonder if she learned anything at all.  The concept of compounding interest is fairly simple. Waiting 10 years to start investing is simply too late.  This chart from JP Morgan illustrates it:



Maybe the problem is that this young lady didn't pick a career that allows her to have enough money to save.  Even if one decided not to contribute to a 401k and directed everything to a Roth IRA, compounding interest once again pays off.  Maybe the key isn't to live in New York City or some other area where the cost of living is extremely high.

Then again, maybe this is a humor column and I missed the joke.


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There are two ways to conquer and enslave a country. One is by the sword. The other is by debt. - John Adams
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« Reply #1 on: September 17, 2015, 03:39:36 PM »

Then again, maybe this is a humor column and I missed the joke.
I suspect you might be right about it being a humor column, along the lines of the onion or similar satire.  Did you see the editor's profile at the bottom of the page?  Doesn't sound like someone who would right a serious article.
Quote
Lauren Martin is a Senior Lifestyle Writer at Elite Daily. After graduating from PSU, she moved to NYC to write fart jokes at Smosh Magazine. Making her way to ED, she now writes riveting commentary on nude pics, condoms and first dates.
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