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TheAngryImmigrant's avatar

But if you flip the problem, you’ll realize that most of the dual income necessity stems from the younger generation inability to delay gratification.

In general they want a brand new car and a 4 bed 2 bath house right after college, preferably in their parents’ middle class neighborhood.

I worked 4 years and saved for a 20% down payment on a house in a OK part of town, couldn’t afford the suburbs.

6 years later sold right before the 2008 crash and bought my current house at half price. Still there 15 years later even though it’s paid for and I can afford a house twice the size.

Driving older nicer cars, trucks and SUVs. Never owned a new car. Never wanted the approval and envy of the Joneses. That’s how you build wealth and get ahead. “The millionaire next door” should be a required reading.

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Jerome's avatar

Great article Unhedged. I'm well on the other end of life but I appreciate the sentiments. There must be lots of retired couples in your neighborhood making their various pensions go further. Come to think of it I have a friend who went to Ecuador 10 years ago. He's now in his late 70s. He has a local bride 20 years his junior and sounds happy when we talk.

I wish you'd expand on the thought about cost of university now vs. long ago. I worked my way thru undergrad, living at home, with a part time job paying $3 an hour. The education inflation has been criminal.

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