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justlikeofficespace OP t1_j1vk764 wrote

Reply to comment by rude_duner in [OC] Annual Finances of a Millennial Saving Up for a House (made with SankeyMATIC) by justlikeofficespace

No I don’t, which is primarily why I’m able to save so much. The grocery figure was only for a couple of months when they were out. A more accurate figure would be $150-200 which is what I was spending when I lived on my own.

No my parents aren’t wealthy but the house is paid for and they still work part time. Again it might be a cultural difference but they insist on me saving everything I can towards a house of my own. They won’t accept my monetary “contributions”.

Sorry if this rubs you the wrong way. I was simply just trying to show a data point. Not meant to representative of anything.

This is definitely not generational wealth. Parents immigrated to the US in the 70s with barely anything and houses back then were around $100k. They worked hard and chipped away at the mortgage like every other working class American.

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rude_duner t1_j1vmrhf wrote

Well good for you and your parents, genuinely. I don’t mean to sound bitter about it, I’m just not sure what we’re supposed to gain from this. It doesn’t inform anyone of any potential spending habits other than “man it would be awesome if I had no bills.”

I make even more than you do and it will take me several years to save what you do in one. Just not sure what sort of feedback you’re looking for on this. Making it is one thing, posting it is another—it implies that you want engagement. But what sort of engagement did you imagine? Pats on the back and jealousy? Genuinely curious

Also FYI you should be aware that this is generational wealth. It may not be a 7 figure inheritance, but it is your previous generation providing you with a huge leg up on your peers to enable you to own more than you would have on your own. No shame in that, but that’s what it is. Be happy and grateful, but make sure you never brag

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justlikeofficespace OP t1_j1vrzdk wrote

It was intended to show a data point of a unique situation. You see other charts on here of very high earners, low savers, high savers, low earners, and a combination of these. This is just somewhere in between.

I wasn’t expecting a particular type of engagement. Just wanted to present some data.

I see how this can be generational wealth after you clarified. In my mind I always saw that term applicable to those around me who came from affluent families. I’m talking about Ivy League educated families whose children never had to worry about getting into college or being able to pay.

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rude_duner t1_j1vsh1i wrote

I guess I can see the value in that. After all I am an advocate for transparency about these things. It may help others to see that it isn’t their fault for not keeping up with people in situations like yours for example.

And yeah there are absolutely levels to the generational wealth thing and you are arguably on the lowest tier. That’s fair

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