Income vs. Savings: The epic battle

13 thoughts on “Income vs. Savings: The epic battle”

    1. Hi Greg,

      This post was based on my personal observations of society and how income affects one’s lifestyle. The unfortunate coupling of high income with a lavish lifestyle tends to keep people working longer than they would otherwise need.

  1. This is a great example of the dangers of lifestyle inflation. I have a very similar example when I was about to graduate optometry school. After living like students for many years during college, a few months before graduation many people realized that they will be making pretty good money soon, so they started putting offers down on new cars and houses. This puts them behind the eight ball right away. I chose to continue to live like a student and this has produced immense financial security.

    1. It’s way, way too easy to fall into that trap. I did, too. Right out of college I bought a used Corvette convertible and sunk another $25k into it. Sure, that was one sweet car and could practically shatter the ear drums of anyone within 10 yards of it when I revved the engine, but it was a completely and entirely dumb purchase that I wish I hadn’t made. I’d probably have another $100k in net worth if I had invested all that cash instead of blowing it on a car.

  2. Jimmy works just 50 hours a week? That would be slacking compared to the jobs I had, but without the high income to match. 😉

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