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Old 04-09-2006, 11:35 AM
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swchang swchang is offline
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Location: Baltimore/DC area
 
Join Date: Oct 2003
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Mein Auto: BMW, M-B, Honda
Quote:
Originally Posted by BahnBaum
Well, the reality of the real world is that you can probably rationalize buying all the toys you want at a young age, without fulling understanding the pain it's going to cause you at an older age. I wouldn't for a moment put a gnat's ass worth of value in responses from other young people in this area.

But, anyway, you guys should all go back to stuffing your heads into the sand or other body orifices and justify owning a cool car now ahead of saving for a home, children's education and/or retirement.

Oh wait, forgot, Carpe diem!

Alex
How much do you suggest saving for home/retirement/children's education? I've heard save 10% for kid's education, plus like 10-15% for retirement. If you add in 25% for car, 30% for house, that's only 20% left to spend on other stuff. Plus, that's with only 1 kid... Of course, like others said, depends on where you live, how much you make, but at least the retirement savings should be done proportionally.
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