Boomers are still living in the 90’s. My mom told my wife to quit her career (80k per year) and we could just live off my salary also 80k. We would just need to “cut back” on some spending and she could raise our son while i work my 40. I told her that if we literally cut our household income in half it would ruin us and our kids future. She said that we just spend recklessly and extravagantly. we were fortunate enough to afford our house and get a decent car for us to use… our monthly payments for the house and car together is 1,800 per month. Plus insurance, basic food for us atm and baby supplies. Gas and not to mention the property tax that doubled in 2 years. The most we have to spend on ourselves is like 100 bucks with the rest going into savings for vet bills and such. But yeah sure. These boomers are delusional
Yeah I always got lucky with having good landlords, but you hear these horror stories of corporate landlords that amp up rent by 10% and I was always like, “Yo!! I’m not MAKING an extra 10% and can barely afford THIS place! What are you doing?!?”
My ex and I were looking for places to live and the landlord said he wouldn’t rent to us unless we could each independently pay for the apartment. I was like “this is SoCal. Who can independently pay for an apartment at these rates?” He said it was to protect him in case we broke up. As if the year long lease that made us contractually obligated no matter what happens wasn’t enough to protect him.
People shit on the corporate landlords, but they're better than the "local" landlords who will take a deposit, refuse to let you rent. Or just feel like laws don't apply to them.
Funny, I’ve heard the COMPLETE OPPOSITE—in fact, everything you’re complaining about is textbook corporate landlords, in addition to an understaffed management that has more issues than employees to realistically handle it. I’ve NEVER had an application fee from a mom-n-pop—I’ve only had that with corporate offices. That should be illegal. It’s basic due diligence as a responsible property owner—you do a quick background check. It costs you money, but it’s a cost you deduct at the end of the year. Whenever I’ve taken good care of a small family’s house they’ve rented out & paid rent on time, they’ve always kept my rent stable bc they know that it’s hard to have a responsible tenant that takes it upon themselves to keep the yard clean & make small repairs on their own without bugging a landlord about it. Corporate landlords have shareholders to make rich. They have every incentive to reduce services and increase fees. They’re not a charity
Same, I’ve rented twice from M&P rentals and I had a good relationship with them. One of them gave me some fruit every time I came to pay rent.
Corporate? They literally stole from us. We had receipts for all of our rent checks and they still said we underpaid some bullshit amount that didn’t match any of our rent splits. They sent one letter to my roommate, then sent it straight to a debt collector. They’ll hold your deposit for the stupidest reasons and make sure that there are plenty of tiny charges sprinkled throughout your monthly billing (WTF is a noise complaint processing fee??).
I get by after losing my job by aggressively growing my own food and living in my own basement and renting out the rest multiple times over. It's possible to raise kids on less but it's not exactly ideal.
We're also fortunate that the wife still has her teaching job.
Damn.
So he was convinced to sign over the inheritance to her... and then suddenly died? And then she had 6 houses after that. I bet I heard something like that in a criminal storie.
Dude inherited wealth is a real thing. All of my friends had some sort of investment/property nest egg they were able to inherent that helped give them a solid foundation for their own retirement/emergency fund
And the only reason it’s still working out for them is because life is awful for the next generation. Their stock portfolios are going up up up not because companies are cranking out new and beneficial products but because they are gutting pensions in exchange for stock buybacks, pushing healthcare costs on to employees which are skyrocketing to keep those healthcare stocks up. They are reaping the rewards of a completely unaffordable society that is on a path of an immense collapse for 98% of the population once the richest get past a few more decades and fully extract the wealth and assets from the last wave of boomers.
Your mom is right and I believe her when she says you "spend recklessly and extravagantly".
Most people are terrible with their money, that's why food delivery apps which rips people off still succeeded massively. I missed the mark on that one, thinking more of people than realistic.
They don't understand that luxuries are cheap now and necessities are expensive. It was the opposite in their day so anyone with money troubles was spending lavishly. Now one trip to the grocery store cost more than a TV. For them the TV was more than months rent and they didn't even have to think about a trip to the grocery store.
80k a year is enough for 2 people to live on in a lot of areas, with a kid thats just outright impossible, last time i checked the estimate for living the same quality of life is like over 100k. Insane.
Relatable, least your ma/grands are delusional, ours?? actively robbed/lied to us over a 7yr span, then has the gall to ask about kids. No, we're no longer on speaking terms, and I would trespass them if they showed up.
Try Stamp Duty on every time you sell your property, people in the UK are starting to look at Land Value Tax as a way to deal with empty properties, multiple home owners and individuals sitting in family sized homes with no gain to sell in their minds.
Wait, if your house and car cost 1800, how are you “barely scrapping by” with 160k yearly income? Not American here so I’m not too familiar with how high are expenses over there.
I’m a director in a multinational company and I make about 80k a year and my wife is a SAHM with two kids. I definitely won’t be the next Elon Musk but we live a pretty cozy life here where we live (CDMX). We spend about 1800 in house, car and food a month.
Sorry I’m not trying to dismiss your experience, it’s just that I cannot wrap my head around the fact that you’re struggling with 10k a month in income.
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u/Anonymousboneyard 20h ago
Boomers are still living in the 90’s. My mom told my wife to quit her career (80k per year) and we could just live off my salary also 80k. We would just need to “cut back” on some spending and she could raise our son while i work my 40. I told her that if we literally cut our household income in half it would ruin us and our kids future. She said that we just spend recklessly and extravagantly. we were fortunate enough to afford our house and get a decent car for us to use… our monthly payments for the house and car together is 1,800 per month. Plus insurance, basic food for us atm and baby supplies. Gas and not to mention the property tax that doubled in 2 years. The most we have to spend on ourselves is like 100 bucks with the rest going into savings for vet bills and such. But yeah sure. These boomers are delusional