"It's not how much you make it's how much you save"

[Fitnessguy24]

Who agrees with this statement? Heard this from a tradie flipping burgers at Culver's who showed me his 400,000 dollar bank account balance and he's only 31. He's been working there since he was 19. He lives at home with his parents and doesn't pay anything for rent or other bills(except cell phone, food, clothes) and he's happy doing it. Have never met a happier person, seriously.

[MetroBrah]

Pretty admirable. Not the kind of life I'd want to lead, but mirin that he is doing what he wants

[Fitnessguy24]

Pretty admirable. Not the kind of life I'd want to lead, but mirin that he is doing what he wants

He doesn't spend money on anything. Haggles over prices for literally everything and he's such a good negotiator that he always gets his way. Saw the guy at a restaurant talk the owner down to 7 dollars for a breakfast that had an omelette, toast, and coffee. Normal price: 13.00 dollars.

[nickh04]

imagine living with your parents at 31

lmao i was like lmao

[Fitnessguy24]

imagine living with your parents at 31

lmao i was like lmao

LOL I know, right. And that's what I thought at first. But ****, if it can save you thousands of dollars a month in expenses(for those living in more expensive areas where they rape you for rent). But I've met a lot of people like this. The brother of one of my friend worked in a factory his whole life and didn't make **** for salary. Yet he rented a dive, rode a bicycle(even in winter in Michigan) because he was too frugal to pay for gas, and used coupons and now the dude has a garage full of corvettes. I'm like WTF.

[aaron501]

all well and good but he oughta invest in his future. i hope the cash isnt just sitting there. brb bank collapse and that money's gone.

At the very least he should buy his own place and carry on living the frugal life. the indpendance will do him good and probably make him even happier

[rollerball]

He doesn't spend money on anything. Haggles over prices for literally everything and he's such a good negotiator that he always gets his way. Saw the guy at a restaurant talk the owner down to 7 dollars for a breakfast that had an omelette, toast, and coffee. Normal price: 13.00 dollars.

yeah fuk that, wouldn't want to be so obsessed with money in that way

[notbadnotbrad]

(income - spending) x ROI

Income and spending are probably most important variables and you should maxx this out via career and good habits

Flipping burgers is extremely inefficient though - Just a dumb way to make money lol

[Fitnessguy24]

lol at wasting 12 years flipping burgers and living with your parents just to save 400k


Anyone who makes a lot can decide to be really frugal for a couple years if they want to save for a big purchase

Man, I live in a small bum**** town and let me tell you...400 grand cash will go VERY far. You can get a decent house for 100 grand, fix that SOB up and then flip and sell, profit made.

[BearyManilowe]

He doesn't spend money on anything. Haggles over prices for literally everything and he's such a good negotiator that he always gets his way. Saw the guy at a restaurant talk the owner down to 7 dollars for a breakfast that had an omelette, toast, and coffee. Normal price: 13.00 dollars.

Lol at living somewhere where you can talk down a restaurant on their food prices.

[HenryBoogers]

Well it's true but it's only one facet of life to consider and living your life by any mantra that considers only one facet is a terrible idea. Financially, this is an important concept but I wouldn't take that to mean we should live in our parent's basements and flip burgers at 31.

[SouthDakotaBrah]

flipping burgers to save $400k in cash is possible one of the most financially retarded decisions somebody can make with their life

flipping burgers to save $400k in stocks is a lot better

flipping burgers to get an engineering degree and then saving $4M in stocks is better yet

but yeah, I think saving is a more important metric than income as it relates to financial independence/retirement

[JoshSP1985]

Man, I live in a small bum**** town and let me tell you...400 grand cash will go VERY far. You can get a decent house for 100 grand, fix that SOB up and then flip and sell, profit made.

Or start a rental empire with 20% down that's 2mil worth of homes.

[JoshSP1985]

flipping burgers to save $400k in cash is possible one of the most financially retarded decisions somebody can make with their life

This, why would you not consider increasing your earning potential?

[MisterDiapers]

imagine if he got a decent job paying 50-75k a year. that 400k could be 2M. work smarter not harder

[zknarc]

I bet that gets hot 20yo sloots wetter that the amazon.

Imagine burning up your prime years like this.

[x-trainer ben]

2 things op said that stick out

1. he is a happy person which is very rare.
All the high earners that i know are miserable people that you would not want to be around

2. 400K at that age allows him the flexibility to make career moves at 31.

[Fitnessguy24]

With high income comes a feeling of invincibility..let's take gambling for example. I'm sure a lot of you degenerates have gambled before. So you're in the casino, you brought your 100 dollars or whatever it is you can afford to lose, and then you hit big. You win 20,000 grand. Or 50 grand, or 100, it doesn't matter..because in your mind you're a winner and you can do whatever you want. You have no boundaries. No limits. Just like the guy who placed that bet on the three fights the other night and won 40 grand..he will lose it...why? Because he now feels invincible. The universe agrees with him. In his mind every decision he makes is the right one.

Sure, there are plenty of exceptions. People that are disciplined with money and spend wisely no matter how much they make and those people have been blessed with good genetics. Positive emotions aren't a trigger for them. But, even as Jordan Peterson says, TOO much positive emotion, causes a person to be impetuous. Impetuous: acting or done quickly and without thought or care.

[Kiop]

[zknarc]

1. he is a happy person which is very rare.
All the high earners that i know are miserable people that you would not want to be around

Fortunately for society, low IQ people can be happy doing repetitive tasks which require very little thought

2. 400K at that age allows him the flexibility to make career moves at 31.

400K and flipping burgers doesn't give you experience or skills beyond flipping burgers.

[OffwhiteBrah]

so you met zhengterry ?

[Fitnessguy24]

so you met zhengterry ?

LOL I'm familiar with him. I know enough about him that I think it's a stupid idea to retire at his age and rely on the government to pay for his stuff, especially when he's physically able(and mentally, too..don't let him confuse you). I would feel like a thief living like that every day.

[Beararms]

Easy when you dont have bills.

[Fitnessguy24]

Easy when you dont have bills.

Not true. You can still buy a bunch of stupid **** and waste your money. A fool and his money are soon parted.

[Nonsense916]

Was a pretty good troll thread till you claimed he haggled for his restaurant meal

Jfl

[Holyfenix]

Incorrect, Income is far more important than savings. Imagine if he would have learned an actual trade and then savmaxxed like he did. He was saving 33 grand a year and it sounds like his expenses were maybe only 10. He could have started out making 50k a year and by the time he was 31 probably close to six figures. He could have saved close to a million in the same time frame.

[drlarsrobotnik]

agreed in general, but if you make more then you can save a lot more total, even if that's a smaller % of overall income (ie if you dont save a lot but make a ton, well just cut that chit out and start saving lmao)

the problem is when ppl start making more money and get "lifestyle inflation," and suddenly they're not saving any more (or maybe buy a bigger house and incur more debt etc). This is on top of any cost-of-living adjustments you'd have to pay

but yeah brah saving is fking KING bc of dat dere COMPOUNDING das it mane, like if i spend $100 today, in 50 yrs that would be like $7k (not accounting for inflation, more like 3k after inflation taxes etc etc)

at the same time u dont wanna save everything and die before even spending it tho https://en.wikipedia.org/wiki/Consum...an's_model

[Destor]

Cost control and saving is the foundation, income is the structure you build on top of that

[sooby]

both are important? also he lived with his parents, lol. imagine working as a burger flipper for 12 years, surely he would have gotten a promotion based on seniority and experience?

but the good thing is the guy got a job early and started saving early. that can really go a long way. I wish I started working part time early in high school. Then working part time during university and full time during the 4 months I get off. I could have probably paid off most of my university bills with that money and started saving by the time I was 23. Instead I spent a lot of time paying off my student debt and it wasn't until I was 27 when I fully paid it off.

Lived on and off from my parents house until 26 when I moved out for good, could have used a lot of that time to just rack up savings without much bills to pay. With inflation eating away at money and housing going up, having a 4-5 year head start on it all would have accrued alot of investment income and saved money.

[78novacaine]

$400k saved in 12 years from a minimum wage job? I don't be leaf.

Even if he was making $15/hr the entire time, he would have only grossed a total of $375k in 12 years working 40 hours a week every week. Take away taxes and even bare minimum living expenses and $400k is laughable.