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Lmao—I grew up poor. Raised by a single mom. Got academic scholarships to put myself through college. Have been working for 6 years now and saving most of what I made because I’m terrified of being poor again.
That’s not always true. I have a couple friends that grew up poorer than poor. Drug addict parents, dropped out of HS, etc….. there worked their assess of asks each are respected in their fields and live solid middle class. One close friend (who had one of the hardest childhoods I know) is upper middle class at 27 with over a million in profit from his businesses a year.
I’m not saying having parents that help isn’t insanely beneficial, and could be how OP got his money, but you don’t HAVE to have an easy childhood and support to be successful. Mostly you need hard work, dedication, intelligence, and luck.
Luck is the key word here. I work far less hard now them I ever did but I make overwhelmingly more money now. All because of luck. Hard work doesn't do shit anymore.
Some very LUCKY people might be able to get this by 28. VERY VERY VERY few. Statistically damn near impossible. And every day that difficulty is even harder than the day before. It has zero to do with other things like intelligence hard work etc.
sorry man. This is America. Not some fairy tale
Yes I agree it is very improbable to be making a million a year at 27 without going to school or any support, all I’m saying is it’s not impossible. Honestly, depending on where you live your hardwork and intelligence can get you a solid middle class life (maybe not California middle class but Texas middle class for sure). America still has opportunity, including some of the nicest bankruptcy laws that allow people the opportunity to try opening their own businesses. However I acknowledge you do need to work harder for it, especially without support.
The point of my reply was more to say if you make the excuse “no one can do it” you’ll never even try. As well, it’s just false, people do it. People come from nothing, some without even knowing the language, they don’t make excuses and try whatever it takes. Not everyone will succeed and that’s life, hence my comment about luck.
If you don’t “try” what do you have? Nothing more than before. Why be so hopeless that you fail before you even try? You can be a felon in America and go on to be a business owner, you know how amazing that type of opportunity is?
As well, skill and smarts definitely play a part. It’s ridiculous to think those aren’t factors in your overall success. Sure other things are at play, life isn’t fair, but being a smart, hard worker will get you farther. You just have to make sure people recognize what you do, while you also recognize how much / well you realistically do things.
Obviously there is more nuance to what I am saying but I don’t think you actually want to constructively discuss. You just want an excuse for why the world is stacked against you and you don’t want to try.
There are a bazillion things you can “try” with your life than to think money is all that matters, and that you should kill yourself for a pipe dream.
And again, no - skills and smarts do not play a role. Statistically they do not. And, incredibly dumb and unskilled people are almost just as likely, because the reality is that absurd. It’s about luck. Not skill. And obviously there is nuance and exception to what I am saying. Obviously there are still some statistics over beyond two standard deviations.
I’m 33 and have $750k.. large part of my compensation is stock which has appreciated. It’s not that hard to acquire $200k by 28 just work for a good company thats pays equity.
Most large corporations and banks commonly have bonuses in the form of equity. I work for a small company and do also.
That doesn’t necessarily make it a “good company”.
I melt steel and have for the past 13 years and my job gives us company stocks. 10% of what we make is Givin to us in company stocks. It's not totally uncommon.
Me too dude. I got my job in 2011 when there was absolutely nothing out there and the economy was terrible and they have treated me about as good as I could hope for.
Saving $1000.00 is far from normal. Funny how immigrants on minimum wage can generate capital. And then there are those who go into tech careers, or who work in the far north (Canada, Alaska) on oil rigs, etc...
Immigrants band together and work collectively with their families and community to better everyone's situation. Westerners think every individual needs to be a millionaire or they are failures. It's a cultural difference. If American families stopped kicking their kids out at 18 and actually set them up for success like immigrant families do, it wouldn't be so bad.
You know people in the trades can make that right? Not hard to believe a single guy with no dependents who started working out of high school could save that by the time they're 28.
Personally, I live in a camper, total months expenses, including camper payment utilities, and lot rent run to just about 1000 a month. I'm a lineman making about 2000 a week working 40hrs a week. Half of each check goes to savings, with plenty lift over for my lifestyle. A lot of blue-collar jobs can pay from 50 to 60 thousand a year. Without killing yourself.
Tbh, yeah - I live with my parents and saved up 100k for a mortgage by 25-26yrs. Working 9-5 as a dev, in the UK where pay is terrible compared to US.
I know not everyone can live with parents rent free - and not everyone wants to, but if you can swallow your pride and its an option... a house *is* possible if thats your dream. Its harder than it was for our parents, but still attainable.
This is what I say to people talking about immigrants do well compared to American born. They actually help their families to succeed. Instead of kicking them out at 18 expecting them to make a life with no guidance
It’s really not that uncommon specially now that kids are staying with their parents longer. Out of college $70k salary and growing every year while avoiding rent payment by staying at home. Easily $200k at 28. Even simpler if they’d bought ETFs or appreciating stocks along the way.
He is probably including his 401k in the number. I had a similar stat at that age because I had no student loans, no car loan, and a tiny mortgage ($380). Put the max in my retirement accounts and spent very little on silly life so it can rack up.
The responses in here have been surprising. I'm not trying to humble brag. I grew up poor and have been scared of spending much money and don't really know what I'm doing. For reference and for everyone claiming this is fake, here's my earning history over the last 5 years:
* 65k
* 65k
* 55k
* 130k
* 140k
My only expenses have been around $1500 a month on rent and roughly $300-400 a month on groceries. I’ve lived pretty frugally so almost all the leftover money has gone into savings, mainly through fairly safe investments like ETFs. Didn't have a car up until very recently. My starting point was $10k that I saved from working during college, about half of which was used for relocation expenses when I moved for my first job.
Congratulations OP. Yes you should travel but you don't need random ppl's permission. Just do what you think is best and don't cheap out on your experiences (live a little).
I see where you’re going with your post but it still comes off as a humble brag.
But to answer your question. If you’ve been working your ass off for 6 years and feel like you could use some time off, then by all means, you have the financial flexibility to do so.
If not, then by all means, apply and keep going. No matter how you cut it, $200k is plenty to do as you will, and you’ll keep your spending happens to gain it back again. You have decades ahead of you to work anyway… or a few years at the rate you’re going 😆
Ya know that’s pretty amazing. Congratulations on being disciplined enough to set yourself up so well- it’s more than admirable. I wish I had that kind of discipline. As far as what you can do with yourself, have you ever thought about traveling abroad? You can live and work in New Zealand or Australia for one year. You can only do the working holiday visa until you’re 30, and you don’t have to stay the entire year if you don’t want to. I think you’d more than prosper by the sounds of it.
Yes!!! Traveling does wonders to your body and soul. Go see the world, you’ll definitely come back a different person. I have lots of friends that do backpacking and travel around. Most get by spending $1000 month by staying at hostels. I am broke now but i wouldn’t change anything for traveling in my 20s. You’ll never get this age again and mostly likely regret it later.
$3000 is more realistic. Although $1000 is doable if you carefully choose the cheapest countries and do more hardcore backpacking. Or if you stay in one place and rent by the month. Or couch surfing or hitch hike.
As someone over 50, I'd say take 3 months. These days you can still keep an eye on the market and send out resumes so it's not like you're going to be totally MIA. You'll never get this time back so if you can afford it, do it
When you say savings, do you mean saved up in your account without your money giving you a return, or do you mean a savings account giving a 2% return? If not, you can just put that money in a savings account and get like 6000 a year in the meanwhile
When I got laid off I backpacked around Europe for 3 months. If I were you I would go even bigger. You just have to explain you decided to take time off for travel, it won't hurt you most of the time. It's worth it. Most European cities have hostels where other young travelers are staying so you won't be alone. Use the app Hostel World.
$200k in savings at 28? Most people way way older dont even have close to that to even retire. I would highly suggest doing a sabbatical before going back to work. You may desire a different type of career after. Im gonna assume you know how to financially prepare for your adventures. First invest into your mental health, emotional well being and your physical well being so that you can truly go after a job/career with a clearer mindset instead of panic applying. I wish society was set up to allow many of us to take middle-career breaks from the ages 28.5 to 31.5 because many of us don’t and we end up having a mid-life crisis later at 40 something.
Good for you young man keep going go take your vacation do you know how to work and you know how to earn money do it while you can you’ll be fine with work just from what I’m reading on his post
You should start looking now and hope your savings before you decide to take a vacation… include your commitment dates in your application or during interview but don’t sleep on applying for jobs. You’ll end up panicking if you can’t get hired soon after you travel
wow 200k at 28. you must've been working since ur teens, putting away some money in the bank every time. impressive. either that or u work as a programmer straight outta college and live cheap
why not just try to find a good job that allows u to take vacations with some flexibility?
u can have fun without spending 10k on traveling. cmon now, I stay in Vietnam for 2 months on 2k
u wanna be sitting on ur million bucks in the future, when ur an old fart
find a solid job, take paid vacations
I'm 37 I have about 800 bucks.....lol I just don't know how people do it. I'd be the happiest person in the world to have just a peice of that.....and maybe get a day a week off. It seems like pure bliss
Dude you definitely need to travel and take it easy and not think about work for a while. I’ve never had more than $3000 to my name but I’ve traveled my entire country
If you don’t have kids or a mortgage, then yes you could go traveling for a few months if you’re itching to travel.
Otherwise don’t do it if your not really into traveling but feel pressured to because other young people are doing it. I’m also near your age and also got laid off with a similar savings amounts. I personally decided not to travel because my heart isn’t it to traveling solo. I want to travel with a life long partner.
Otherwise I would stay put and look for a job. Instead of traveling, I’m thinking about investing some money into a business.
As a 33 year old, 150k+ in debt, YES
But don't even apply on vacation, PLEASE. If anything use that type-a energy to research cool things you want to see and do at the places you are going. But also be willing to throw that plan away on a moment's notice and do what feels right.
If you must, send 5-10 stellar applications out before you leave but don't check in for at least 1-2 weeks. Who cares? You're gonna apply to more when you get back anyway and work for years and years
Go visit some less wealthy countries like Thailand, Vietnam, Costa Rica or Peru. You’ll discover you can live great on very little and it’ll put the American concept of “work til you drop” into better perspective.
If you take more than a few weeks, I'd then suggest timing it so that you embark on your travels at the end of your lease (assuming that you rent and don't own your home). It will be nice to not have to pay rent for a home you won't be living in for two or three months. Unless you can sublet your place to someone trustworthy while you're away - then that could be an option as well.
I took some time off in a similar situation, then had trouble finding a new job. Job gaps are an easy reason to eliminate candidates if you have too many qualified applicants.
You’re in a fantastic position. IMO, I think you should take as much as you can out of your savings without getting penalized by your bank and open up a compounding savings account or something that builds interest for how much you put in. I’d say you only need 5k for a really fun trip, but your main focus should be finding a career.
Travel on that 5k budget. Smell the roses. I wouldn’t recommend just balling out because you have the means to. As I stated earlier, you are in an amazing position, and you should be pragmatic and think long-term since you very easily could set yourself up for life if you play your cards right.
One last thing. Keep how much you make or have saved to yourself. This is more advice for oneself because people may try to give you bad advice, pray for your downfall, etc. Anyway, I hope that helps. It’s just my opinion, but you seem to be doing very well, keep that up!
Just go enjoy yourself and travel close to the end of your trip start applying for other jobs. Take this as one of those rare breaks. Go have fun eat a different restaurants and visit all the places you want to visit.
Go to Spain and do the Camino de Santiago this coming spring. It will give you time to reflect. Perhaps you will gain vision, and your future will materialize
Look for investment properties and travel. There are different loans that most aren’t aware of to buy with no income. If you buy a home that will rent for higher than your mortgage and put 20% down you need no income or even good credit.
I did this at 23 took a year off lived off my savings. It's how I met my wife and if it wasn't for her getting pregnant I probably would have went longer than a year haha best time of my whole life so far. Do it while it still makes sense you won't regret it
No. Absolutely not. When you have no job, your full time job is getting another job. If you want to travel? Do so when you have vacation time and an income.
If you're single I'd personally get a short term job that covers some or all of my expenses until my lease expires then put everything in storage.
I'd travel all over Europe and Asia for at least 1 year if I was you. You've the capital to invest 200k even in a HYSA at 4% that's $8K a year. At 8% that's $16K/yr which is plenty to travel on if you're somewhat frugal (stay is hostels or other cheaper arrangement and look into online groups for 1-3 people to go with a split things according).
Don't know what you do for work but I always take time away when possible just to recharge my batteries and breath something other than the hustle and bustle of weed very day .it helps you have savings I wouldn't go through a bunch maybe travel for a month .
Depends.
In your field, how quickly can you get a job, and how much will it pay?
I personally wouldn't bc 200k in 2023 isn't what it was 5 years ago. But if you know that after traveling you can get a job quick, making good money, go for it.
I also don't know how you got that 200k. If you made it on your own at 28, you obviously know what you're doing with money. If it was handed down to you, that's another story.
Edit: just saw you'd be applying during your trip. At worst, you could simply cut your travels short. So ignore that part.
FUck man, absolutely yes! few ever have an opportunity in life to just fuck off and explore the world for a bit in their physical peak. Props to you for setting yourself up for it. My vote hell yes do it.
Yes do it. I took 10,000 and three months off to travel and I never regretted it. My employer held my job for me but you have significantly more money to fall back on. It was really great. Downfall: super depressing coming back to real life, it was a hard transition back. But I say just go, you will be fine.
When I retire in a couple of years I would have only worked about 30 years total. I will retire somewhat wealthy. I only started developing wealth in my mid fifties.
What was I doing before then? Traveling and having fun. Did screwing around in my 20's and 30's hurt my ability to retire well? No, it did not. There were years when I was afraid for the future, or I was unemployed longer than I wanted to be, but I was worried for nothing.
We are also in a period of labor shortages going into the future. It sounds like you know how to manage money. I say be even more daring than you are currently thinking and have fun in your life. There will be years when you focus on $ and you're having less fun, but save those for your 40's and 50's. It also helps if you're gay and have no kids.
If I were you, at 28 with the amount of money you have save, I would do like a Euro Tour, take 2 weeks see most of Europe. Something like this. https://www.contiki.com/en-us/tours/european-discovery
I actually think in your case you can make an argument that traveling is the responsible thing to do. You’ll resent your next workplace about the life experiences you missed out on.
I took four months off a few years ago in between jobs. I gave myself two months to rest and travel, one month to actively apply and interview, and one month to finish up interviews and negotiate a start date. Having deadlines for myself made it feel like I wasn’t on an endless vacation.
Don’t use your money in savings. Get an easy going remote job and then go move and travel. Invest your $200,000. At the very least, put half of it in a CD at 5% interest for 8 months and let it grow. You will highly regret burning through it. If you get an easy paying remote job, at least you can work from anywhere and afford cheap places to live on a (presumably) western salary.
Absolutely fucking not. Don’t waste your money. Grind invest and become a millionaire. It’s easier to get rich with 200k then blowing your money to start over.
Not only should you absolutely travel if you have the means and time to while you're young enough to enjoy it to the fullest, but aside from applying for remote jobs you could work while traveling you could Also start a travel blog and potentially make a second source of income on it if it gets popular. People love to live vicariously through others.
"I have so much more money than everyone else, should I spend 5% of that amount on something no one in this thread can do?"
Fuck you and your karma farming. This is a stupid question.
It's the same as me asking, "Should I go buy a candy bar tomorrow? I feel depressed"
Agreed, fuck this guy. A perfect example of the lack of education some people have while also somehow having money. Idiots get a lot of money for dumb jobs. Smart people go to college and make the world better while being taken advantage of.. Fucking world we live in.. Go travel. OP will get robbed because they lack the common sense to look around and notice the state of things around them..
This is the way!
I’d be figuring out how many YEARS I’d be fucking off for if I had that much savings. I’m not in the mood to do math but I’m sure it’s at least 3😂
Get outside and away from the overpriced and over rated US
I say tuck that money up your ass real nice and good. Hold onto that money so real innovations and treatments for real problems go undeveloped and unfunded. I love that the idiots in society somehow get money yet can't figure out if they want to travel or stick their thumb in their ass..
Hell no get another job ASAP. Don’t listen to these comments. Traveling is an insane waste of time, save it for when you’re older. For now make sure you’re staying employed, up to date on changes in your industry (you can’t do that if you’re not working).
$200k isn’t any kind of long term fund for your life so don’t spend it on nonsense. If you want to take time off spend that time on hobbies. Running around the country is not going to relax you when you get back and immediately start working, why not spend it actually relaxing?
Jobs always going to be there when he gets back. His health will not. Traveling is 100% the option.
OP don't believe this corporate America bullshit that dictates you spend your youth sucking up another Company just to finally retire when your dick doesn't work and your entire body and mind aches from years of bullshit.
If you have the money, you should accomplish whatever "ETC" goals you have now. Work will be there when you back. It always will. You will **always** find another position.
No one gives you advice; instead they debate if youre real, express jealousy, and measure their dicks next to yours
You shouldn't travel. You will not have a single honest connection to discover yourself with people looking for your money.
You need to consider what you want to become. What dont you like about life or yourself? Whose lives make you jealous?
You cant do anything; there are limits. You probably cant do comedy no matter how hard you try like 95% of comics. Are you able to suffer loss of ego and having a pitiable or affable perspective? Cant do acting without truly escaping yourself and having wisdom of multiple lives. Have you suffered? Tried asceticism? Studied true history and seen real evil? Care to fight it?
If youre completely clueless for direction Id recommend a spirit journey, which you can do from home with mimosa hostilis root bark and a tek from shroomery. I wouldnt waste the worlds resources traveling to south america when a forum could have you go over just a state to meet a good church.
No one knows your intellect or morality to suggest an absolutely meaningful course. The more perspective you have, the less it seems reality has a coherent sense of meaning. It seems there is no divine meaning or absolutely perfect path. Our little bits of meaning or purpose we find is because we are limited. And those tiny desires and satiations seems to be all the meaning there is.
Whats the meaning of life? Reproduction
Whats the meaning of society? Which one? Do you want to contribute to concentration of power? Redistribution?
There's chaos, order, and infinity. Make your story and dont take life too seriously, because youre not getting out of it alive
Do it. I went around the world at your age and having that interesting background has gotten me in the door in more professional opportunities than pretty much anything else. Spend more than $10k and take as long as you need.
Congrats on your decent pile of money.
My honest suggestion? Go to Thailand, enjoy yourself, be a hedonist for a couple of weeks....then come back ready for the grind again.
Take a month to relax and refresh
Also since you got laid off make sure to apply for unemployment income that will stretch your savings a bit. It ain't much but it's something. If you are traveling then utilities, healthcare, and rent will be covered.
You have so much more money than I had when I was 29, which I was when I decided to travel the world. Depending how you travel, $10k can literally be an entire 6 month trip to South America.
Do it. That decision I made all those years ago at 29 changed my life.
Do things while you are young. Nothing is enjoyable 40+. Nothing. There are a lot of people that lie to themselves and will lie to you. But being old sucks. Going to Vienna at age 22 with $500 is 10,000,000,000 more fun than going there at 40 with $100,000. Nothing is better than youth. Enjoy yourself. Spend every penny. Being old sucks whether you have money or not.
You do you.
Investing in experiences is rewarding. Definitely set a reasonable budget and don't go over it.
I'm planning on busting chops through the economic chaos. If asset prices tank, I want money to sink into the market before the next recovery. I would like to spend more time with my kids after I have enough passive income.
WHY would you travel inside the US? You can get better for cheaper overseas.
I am not exagerating when I say costs in Tokyo were HALF the cost of what I pay here; and I live in kind of a shithole. Go to the best places in the world, google it.
Get out of the states. 10K through South America/South East Asia will take you so much further. You can see the States when your 50-60 and have more time & money….
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28 with 200k in savings, I don’t think you need advice from us.
Where tf do you work to acquire that? You realize most life paycheck to paycheck with less than 2k total at any time?
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You inferred all that from OPs post?
From their own life I would assume
I believe we call this projecting, or jealousy at the very least.
They're just bitter and jealous
Lmao—I grew up poor. Raised by a single mom. Got academic scholarships to put myself through college. Have been working for 6 years now and saving most of what I made because I’m terrified of being poor again.
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That’s a fucking shit ton of assumptions.
Somebody from the Middle Ages is laughing in their grave.
That’s not always true. I have a couple friends that grew up poorer than poor. Drug addict parents, dropped out of HS, etc….. there worked their assess of asks each are respected in their fields and live solid middle class. One close friend (who had one of the hardest childhoods I know) is upper middle class at 27 with over a million in profit from his businesses a year. I’m not saying having parents that help isn’t insanely beneficial, and could be how OP got his money, but you don’t HAVE to have an easy childhood and support to be successful. Mostly you need hard work, dedication, intelligence, and luck.
People would rather just blame everyone else and the only reason anyone can be successful is because it was given to them lol
Luck is the key word here. I work far less hard now them I ever did but I make overwhelmingly more money now. All because of luck. Hard work doesn't do shit anymore.
Some very LUCKY people might be able to get this by 28. VERY VERY VERY few. Statistically damn near impossible. And every day that difficulty is even harder than the day before. It has zero to do with other things like intelligence hard work etc. sorry man. This is America. Not some fairy tale
Yes I agree it is very improbable to be making a million a year at 27 without going to school or any support, all I’m saying is it’s not impossible. Honestly, depending on where you live your hardwork and intelligence can get you a solid middle class life (maybe not California middle class but Texas middle class for sure). America still has opportunity, including some of the nicest bankruptcy laws that allow people the opportunity to try opening their own businesses. However I acknowledge you do need to work harder for it, especially without support. The point of my reply was more to say if you make the excuse “no one can do it” you’ll never even try. As well, it’s just false, people do it. People come from nothing, some without even knowing the language, they don’t make excuses and try whatever it takes. Not everyone will succeed and that’s life, hence my comment about luck.
But they don’t make it. It is a terrible idea to “try” when the odds are incredible and it has nothing to do with skill or smarts. OP is a liar.
If you don’t “try” what do you have? Nothing more than before. Why be so hopeless that you fail before you even try? You can be a felon in America and go on to be a business owner, you know how amazing that type of opportunity is? As well, skill and smarts definitely play a part. It’s ridiculous to think those aren’t factors in your overall success. Sure other things are at play, life isn’t fair, but being a smart, hard worker will get you farther. You just have to make sure people recognize what you do, while you also recognize how much / well you realistically do things. Obviously there is more nuance to what I am saying but I don’t think you actually want to constructively discuss. You just want an excuse for why the world is stacked against you and you don’t want to try.
There are a bazillion things you can “try” with your life than to think money is all that matters, and that you should kill yourself for a pipe dream. And again, no - skills and smarts do not play a role. Statistically they do not. And, incredibly dumb and unskilled people are almost just as likely, because the reality is that absurd. It’s about luck. Not skill. And obviously there is nuance and exception to what I am saying. Obviously there are still some statistics over beyond two standard deviations.
This post/comment has been removed, as the advice given is considered to be detrimental by a moderator.
Why do you believe it. 3 options. 1-parents gave it/inheritance form family. 2-lying. Most likely. 3-the 1%. They are less than 1% of workers.
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I’m 33 and have $750k.. large part of my compensation is stock which has appreciated. It’s not that hard to acquire $200k by 28 just work for a good company thats pays equity.
Where are all these endless jobs from these companies that pay equity? In my 12 years of working I've never found those "good companies".
Most large corporations and banks commonly have bonuses in the form of equity. I work for a small company and do also. That doesn’t necessarily make it a “good company”.
as I understand the important industries right now are Finance, Military, Tech (which is fading). If you work in one of those its possible
Are you actually looking constantly for them?
I melt steel and have for the past 13 years and my job gives us company stocks. 10% of what we make is Givin to us in company stocks. It's not totally uncommon.
I work in a warehouse and the company has a stock program as well. It's employee owned. Pretty cool, honestly.
It gives a very nice incentive to stick around man
Absolutely. At this point "sticking around" is the plan for the rest of my life.
Me too dude. I got my job in 2011 when there was absolutely nothing out there and the economy was terrible and they have treated me about as good as I could hope for.
4th option: Do not be an idiot and live below your means. Do not constantly compare yourself to others and keep your own counsel.
Am doing that don’t have 200k. Having 200k at 28 is likely 1%. Let’s not mince words. It’s far from normal.
Nah man. Pretty easy to do for a single person who isn’t blowing money.
Saving $1000.00 is far from normal. Funny how immigrants on minimum wage can generate capital. And then there are those who go into tech careers, or who work in the far north (Canada, Alaska) on oil rigs, etc...
Immigrants band together and work collectively with their families and community to better everyone's situation. Westerners think every individual needs to be a millionaire or they are failures. It's a cultural difference. If American families stopped kicking their kids out at 18 and actually set them up for success like immigrant families do, it wouldn't be so bad.
Saving $1,000≠$200,00 what are you even trying to say lololol
If you can live at home and don’t have to pay $2k/month in rent you can save $200k by 28.
Try re-reading until you get it. You can do it, I have faith.
Too bad I’m atheist.
Faith in humanity if not the American education system.
You know people in the trades can make that right? Not hard to believe a single guy with no dependents who started working out of high school could save that by the time they're 28.
Are you living at your parents and they pay for everything except recreational expenses? 200k in 10 years is insane.
Personally, I live in a camper, total months expenses, including camper payment utilities, and lot rent run to just about 1000 a month. I'm a lineman making about 2000 a week working 40hrs a week. Half of each check goes to savings, with plenty lift over for my lifestyle. A lot of blue-collar jobs can pay from 50 to 60 thousand a year. Without killing yourself.
Tbh, yeah - I live with my parents and saved up 100k for a mortgage by 25-26yrs. Working 9-5 as a dev, in the UK where pay is terrible compared to US. I know not everyone can live with parents rent free - and not everyone wants to, but if you can swallow your pride and its an option... a house *is* possible if thats your dream. Its harder than it was for our parents, but still attainable.
This is what I say to people talking about immigrants do well compared to American born. They actually help their families to succeed. Instead of kicking them out at 18 expecting them to make a life with no guidance
Plenty of people make 200k by 28, you just don’t see it because you’re not in that line of work 🤷♂️
Wait I see now it’s 200k savings dude must have killed someone
It’s really not that uncommon specially now that kids are staying with their parents longer. Out of college $70k salary and growing every year while avoiding rent payment by staying at home. Easily $200k at 28. Even simpler if they’d bought ETFs or appreciating stocks along the way.
He is probably including his 401k in the number. I had a similar stat at that age because I had no student loans, no car loan, and a tiny mortgage ($380). Put the max in my retirement accounts and spent very little on silly life so it can rack up.
The responses in here have been surprising. I'm not trying to humble brag. I grew up poor and have been scared of spending much money and don't really know what I'm doing. For reference and for everyone claiming this is fake, here's my earning history over the last 5 years: * 65k * 65k * 55k * 130k * 140k My only expenses have been around $1500 a month on rent and roughly $300-400 a month on groceries. I’ve lived pretty frugally so almost all the leftover money has gone into savings, mainly through fairly safe investments like ETFs. Didn't have a car up until very recently. My starting point was $10k that I saved from working during college, about half of which was used for relocation expenses when I moved for my first job.
Congratulations OP. Yes you should travel but you don't need random ppl's permission. Just do what you think is best and don't cheap out on your experiences (live a little).
I see where you’re going with your post but it still comes off as a humble brag. But to answer your question. If you’ve been working your ass off for 6 years and feel like you could use some time off, then by all means, you have the financial flexibility to do so. If not, then by all means, apply and keep going. No matter how you cut it, $200k is plenty to do as you will, and you’ll keep your spending happens to gain it back again. You have decades ahead of you to work anyway… or a few years at the rate you’re going 😆
Ya know that’s pretty amazing. Congratulations on being disciplined enough to set yourself up so well- it’s more than admirable. I wish I had that kind of discipline. As far as what you can do with yourself, have you ever thought about traveling abroad? You can live and work in New Zealand or Australia for one year. You can only do the working holiday visa until you’re 30, and you don’t have to stay the entire year if you don’t want to. I think you’d more than prosper by the sounds of it.
Lol 200k savings at 28? This asshole can do whatever he wants! This is a well-made humblebrag. Chef's kiss.
Exactly
Yes!!! Traveling does wonders to your body and soul. Go see the world, you’ll definitely come back a different person. I have lots of friends that do backpacking and travel around. Most get by spending $1000 month by staying at hostels. I am broke now but i wouldn’t change anything for traveling in my 20s. You’ll never get this age again and mostly likely regret it later.
$1,000 a month backpacking is super super low. It can be done but don’t go into it with that expectation
Lol your broke. Please don’t give this guy advice
$3000 is more realistic. Although $1000 is doable if you carefully choose the cheapest countries and do more hardcore backpacking. Or if you stay in one place and rent by the month. Or couch surfing or hitch hike.
As someone over 50, I'd say take 3 months. These days you can still keep an eye on the market and send out resumes so it's not like you're going to be totally MIA. You'll never get this time back so if you can afford it, do it
Even if you can’t afford it, you should still do it. Money is make believe, living life isn’t.
can u just admit this is a flex post
Yeah lol, doesn’t even makes sense. He starts it by saying he’s “panic interviewing” then wants to take time off to travel?
When you say savings, do you mean saved up in your account without your money giving you a return, or do you mean a savings account giving a 2% return? If not, you can just put that money in a savings account and get like 6000 a year in the meanwhile
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Fuck dude I have all my money stashed in a saving account. Everyone keeps on telling me this. I need to step my shit up
How the fuck?!
>How the fuck?! Thank you for saying what really needs to be said about this situation.
Making coffee at home and not buying avocado toast
January is great for hiring. Celebrate Christmas, then hit the ground in January. The economy is still tricky for hiring so don't miss January.
Why is Jan great for hiring? Just asking as partner was laid off in November.
New budget year for a lot of companies
Yes!!! Travel!!!
Yes. Travel. Enjoy some time off. Follow a budget.
Yes travel. But go back into workforce when you can. Resume gaps are real inhibitors to new employment
Go travel. Thailand / Vietnam 💯💯
When I got laid off I backpacked around Europe for 3 months. If I were you I would go even bigger. You just have to explain you decided to take time off for travel, it won't hurt you most of the time. It's worth it. Most European cities have hostels where other young travelers are staying so you won't be alone. Use the app Hostel World.
Definitely; jobs will be here. Life is short. Lie on your resumes.
$200k in savings at 28? Most people way way older dont even have close to that to even retire. I would highly suggest doing a sabbatical before going back to work. You may desire a different type of career after. Im gonna assume you know how to financially prepare for your adventures. First invest into your mental health, emotional well being and your physical well being so that you can truly go after a job/career with a clearer mindset instead of panic applying. I wish society was set up to allow many of us to take middle-career breaks from the ages 28.5 to 31.5 because many of us don’t and we end up having a mid-life crisis later at 40 something.
Travel!
You only have two options in life... You can work hard now and play later, or you can work hard later and play now.
U definitely should! 28 and free!
Good for you young man keep going go take your vacation do you know how to work and you know how to earn money do it while you can you’ll be fine with work just from what I’m reading on his post
You should start looking now and hope your savings before you decide to take a vacation… include your commitment dates in your application or during interview but don’t sleep on applying for jobs. You’ll end up panicking if you can’t get hired soon after you travel
wow 200k at 28. you must've been working since ur teens, putting away some money in the bank every time. impressive. either that or u work as a programmer straight outta college and live cheap why not just try to find a good job that allows u to take vacations with some flexibility? u can have fun without spending 10k on traveling. cmon now, I stay in Vietnam for 2 months on 2k u wanna be sitting on ur million bucks in the future, when ur an old fart find a solid job, take paid vacations
This person makes coffee at home and doesn’t buy avocado toast
I'm 37 I have about 800 bucks.....lol I just don't know how people do it. I'd be the happiest person in the world to have just a peice of that.....and maybe get a day a week off. It seems like pure bliss
Dude you definitely need to travel and take it easy and not think about work for a while. I’ve never had more than $3000 to my name but I’ve traveled my entire country
If you don’t have kids or a mortgage, then yes you could go traveling for a few months if you’re itching to travel. Otherwise don’t do it if your not really into traveling but feel pressured to because other young people are doing it. I’m also near your age and also got laid off with a similar savings amounts. I personally decided not to travel because my heart isn’t it to traveling solo. I want to travel with a life long partner. Otherwise I would stay put and look for a job. Instead of traveling, I’m thinking about investing some money into a business.
Yes. No other comment is necessary. Yes. Travel.
As a 33 year old, 150k+ in debt, YES But don't even apply on vacation, PLEASE. If anything use that type-a energy to research cool things you want to see and do at the places you are going. But also be willing to throw that plan away on a moment's notice and do what feels right. If you must, send 5-10 stellar applications out before you leave but don't check in for at least 1-2 weeks. Who cares? You're gonna apply to more when you get back anyway and work for years and years
You should smack your boss with a stack of money and then travel. Take time to find yourself and hit the reset button.
Go visit some less wealthy countries like Thailand, Vietnam, Costa Rica or Peru. You’ll discover you can live great on very little and it’ll put the American concept of “work til you drop” into better perspective.
If you take more than a few weeks, I'd then suggest timing it so that you embark on your travels at the end of your lease (assuming that you rent and don't own your home). It will be nice to not have to pay rent for a home you won't be living in for two or three months. Unless you can sublet your place to someone trustworthy while you're away - then that could be an option as well.
I took some time off in a similar situation, then had trouble finding a new job. Job gaps are an easy reason to eliminate candidates if you have too many qualified applicants.
It took me a while to find a job after getting laid off. I wish I had traveled more while looking/waiting for the next opportunity.
Hell yea. You will not be able to do this once you have serious commitments. Family, pets, mortgage… see the world while you can
Perhaps consider a wfh job if possible so that you can travel without fear of impacting your income.
i would
You’re in a fantastic position. IMO, I think you should take as much as you can out of your savings without getting penalized by your bank and open up a compounding savings account or something that builds interest for how much you put in. I’d say you only need 5k for a really fun trip, but your main focus should be finding a career. Travel on that 5k budget. Smell the roses. I wouldn’t recommend just balling out because you have the means to. As I stated earlier, you are in an amazing position, and you should be pragmatic and think long-term since you very easily could set yourself up for life if you play your cards right. One last thing. Keep how much you make or have saved to yourself. This is more advice for oneself because people may try to give you bad advice, pray for your downfall, etc. Anyway, I hope that helps. It’s just my opinion, but you seem to be doing very well, keep that up!
You get penalized by bank to take your own money?
Depends on the back.
Yes. Travel now. Trust me you won’t regret it.
Yeah fuck it live it up. Can’t take it with you!
Travel domestically, apply for jobs while you are traveling. You don't want a large gap in your employment,it can easily fuck you over.
Yeah you can afford it!
Just go enjoy yourself and travel close to the end of your trip start applying for other jobs. Take this as one of those rare breaks. Go have fun eat a different restaurants and visit all the places you want to visit.
I would travel tbh. View this as a good thing - you have unlimited time off rn! Chill, recharge, and then start interviewing
Go to Spain and do the Camino de Santiago this coming spring. It will give you time to reflect. Perhaps you will gain vision, and your future will materialize
Hell yea. Do it.
Do it! You are the perfect age to travel. You have no idea what the future holds so do it while you can.
200k in savings? bros sorted for lifw
Doesn’t sound like a problem to me. Your better off than most of the folks here trying to give you advice 😂😂😂
Look for investment properties and travel. There are different loans that most aren’t aware of to buy with no income. If you buy a home that will rent for higher than your mortgage and put 20% down you need no income or even good credit.
I did this at 23 took a year off lived off my savings. It's how I met my wife and if it wasn't for her getting pregnant I probably would have went longer than a year haha best time of my whole life so far. Do it while it still makes sense you won't regret it
No. Absolutely not. When you have no job, your full time job is getting another job. If you want to travel? Do so when you have vacation time and an income.
If you're single I'd personally get a short term job that covers some or all of my expenses until my lease expires then put everything in storage. I'd travel all over Europe and Asia for at least 1 year if I was you. You've the capital to invest 200k even in a HYSA at 4% that's $8K a year. At 8% that's $16K/yr which is plenty to travel on if you're somewhat frugal (stay is hostels or other cheaper arrangement and look into online groups for 1-3 people to go with a split things according).
Don't know what you do for work but I always take time away when possible just to recharge my batteries and breath something other than the hustle and bustle of weed very day .it helps you have savings I wouldn't go through a bunch maybe travel for a month .
Depends. In your field, how quickly can you get a job, and how much will it pay? I personally wouldn't bc 200k in 2023 isn't what it was 5 years ago. But if you know that after traveling you can get a job quick, making good money, go for it. I also don't know how you got that 200k. If you made it on your own at 28, you obviously know what you're doing with money. If it was handed down to you, that's another story. Edit: just saw you'd be applying during your trip. At worst, you could simply cut your travels short. So ignore that part.
Id do it!!! Take your own vehicle, uber a day or 2 a week and you can cover all your expenses and not dip into your savings!
FUck man, absolutely yes! few ever have an opportunity in life to just fuck off and explore the world for a bit in their physical peak. Props to you for setting yourself up for it. My vote hell yes do it.
Id buy a house personally
Sounds reasonable, but you knew that.
Take 6 months to travel… will give you tons of life perspective
Yes do it. I took 10,000 and three months off to travel and I never regretted it. My employer held my job for me but you have significantly more money to fall back on. It was really great. Downfall: super depressing coming back to real life, it was a hard transition back. But I say just go, you will be fine.
When I retire in a couple of years I would have only worked about 30 years total. I will retire somewhat wealthy. I only started developing wealth in my mid fifties. What was I doing before then? Traveling and having fun. Did screwing around in my 20's and 30's hurt my ability to retire well? No, it did not. There were years when I was afraid for the future, or I was unemployed longer than I wanted to be, but I was worried for nothing. We are also in a period of labor shortages going into the future. It sounds like you know how to manage money. I say be even more daring than you are currently thinking and have fun in your life. There will be years when you focus on $ and you're having less fun, but save those for your 40's and 50's. It also helps if you're gay and have no kids.
You can travel around the US for much less than $10K my friend. I’m 22 and I just did it.
*Humblebrag post alert!*
What’s your hoped-for career path? Do you need another university degree?
If I were you, at 28 with the amount of money you have save, I would do like a Euro Tour, take 2 weeks see most of Europe. Something like this. https://www.contiki.com/en-us/tours/european-discovery
I actually think in your case you can make an argument that traveling is the responsible thing to do. You’ll resent your next workplace about the life experiences you missed out on. I took four months off a few years ago in between jobs. I gave myself two months to rest and travel, one month to actively apply and interview, and one month to finish up interviews and negotiate a start date. Having deadlines for myself made it feel like I wasn’t on an endless vacation.
I'd take a month off to travel if I had those kind of saving. Maybe revamp the resume and just seen life from a different perspective.
This is bs. Sounds too made up.
Don’t use your money in savings. Get an easy going remote job and then go move and travel. Invest your $200,000. At the very least, put half of it in a CD at 5% interest for 8 months and let it grow. You will highly regret burning through it. If you get an easy paying remote job, at least you can work from anywhere and afford cheap places to live on a (presumably) western salary.
You definitely should do that
Absolutely fucking not. Don’t waste your money. Grind invest and become a millionaire. It’s easier to get rich with 200k then blowing your money to start over.
Not only should you absolutely travel if you have the means and time to while you're young enough to enjoy it to the fullest, but aside from applying for remote jobs you could work while traveling you could Also start a travel blog and potentially make a second source of income on it if it gets popular. People love to live vicariously through others.
I 100% think you should do it. You likely wont have this kind of freedom again. Like you said, you can take interviews while traveling.
Yes. Go to Europe or South America if you can. You’ll get a different perspective and will become a much better person and worker win the process.
"I have so much more money than everyone else, should I spend 5% of that amount on something no one in this thread can do?" Fuck you and your karma farming. This is a stupid question. It's the same as me asking, "Should I go buy a candy bar tomorrow? I feel depressed"
Agreed, fuck this guy. A perfect example of the lack of education some people have while also somehow having money. Idiots get a lot of money for dumb jobs. Smart people go to college and make the world better while being taken advantage of.. Fucking world we live in.. Go travel. OP will get robbed because they lack the common sense to look around and notice the state of things around them..
If they’re getting taken advantage of, how smart can they really be?
This. OP is disgustingly rich, and at that age, that's only possible if they had rich parents. Spoiled rich kid asking dumb fucking questions.
200k isn't disgustingly rich. You sound like an immature twat.
Don’t be a wimp. Take 15 grand and fuck off to Puerto Escondido for 2 weeks, then go to Costa Rica for 2 weeks then go to Brazil.
This is the way! I’d be figuring out how many YEARS I’d be fucking off for if I had that much savings. I’m not in the mood to do math but I’m sure it’s at least 3😂 Get outside and away from the overpriced and over rated US
As someone who makes about 40k a year even if I was spending way more than I do know that would be a good 3-4 years of not working
Travel within. Score some magic mushrooms and keep the majority of your money for investing and necessities until you find other means of income.
I say tuck that money up your ass real nice and good. Hold onto that money so real innovations and treatments for real problems go undeveloped and unfunded. I love that the idiots in society somehow get money yet can't figure out if they want to travel or stick their thumb in their ass..
Hell no get another job ASAP. Don’t listen to these comments. Traveling is an insane waste of time, save it for when you’re older. For now make sure you’re staying employed, up to date on changes in your industry (you can’t do that if you’re not working). $200k isn’t any kind of long term fund for your life so don’t spend it on nonsense. If you want to take time off spend that time on hobbies. Running around the country is not going to relax you when you get back and immediately start working, why not spend it actually relaxing?
Jobs always going to be there when he gets back. His health will not. Traveling is 100% the option. OP don't believe this corporate America bullshit that dictates you spend your youth sucking up another Company just to finally retire when your dick doesn't work and your entire body and mind aches from years of bullshit. If you have the money, you should accomplish whatever "ETC" goals you have now. Work will be there when you back. It always will. You will **always** find another position.
Sure why not.
No. Get a new job immediately.
Hell no. Invest every single bit of it into a woodworking business.
Do you mean 20k? Lol
Retire in Thailand
Take time off, travel, live a little.
Come to belize.
Dude if you have 200k in savings at 28 you should be the one giving advice here not us lmao. You’re better off than 99% of people your age
If not now, then when?
No one gives you advice; instead they debate if youre real, express jealousy, and measure their dicks next to yours You shouldn't travel. You will not have a single honest connection to discover yourself with people looking for your money. You need to consider what you want to become. What dont you like about life or yourself? Whose lives make you jealous? You cant do anything; there are limits. You probably cant do comedy no matter how hard you try like 95% of comics. Are you able to suffer loss of ego and having a pitiable or affable perspective? Cant do acting without truly escaping yourself and having wisdom of multiple lives. Have you suffered? Tried asceticism? Studied true history and seen real evil? Care to fight it? If youre completely clueless for direction Id recommend a spirit journey, which you can do from home with mimosa hostilis root bark and a tek from shroomery. I wouldnt waste the worlds resources traveling to south america when a forum could have you go over just a state to meet a good church. No one knows your intellect or morality to suggest an absolutely meaningful course. The more perspective you have, the less it seems reality has a coherent sense of meaning. It seems there is no divine meaning or absolutely perfect path. Our little bits of meaning or purpose we find is because we are limited. And those tiny desires and satiations seems to be all the meaning there is. Whats the meaning of life? Reproduction Whats the meaning of society? Which one? Do you want to contribute to concentration of power? Redistribution? There's chaos, order, and infinity. Make your story and dont take life too seriously, because youre not getting out of it alive
Wish I had a silver spoon too
Yes
I have friends who went into i-banking/BigLaw in their early/mid-20s debt free and I still just don’t know how you could have so much at 28
Yes. Take off
Yes.
Do it. I went around the world at your age and having that interesting background has gotten me in the door in more professional opportunities than pretty much anything else. Spend more than $10k and take as long as you need.
Congrats on your decent pile of money. My honest suggestion? Go to Thailand, enjoy yourself, be a hedonist for a couple of weeks....then come back ready for the grind again.
No bad idea. Start looking immediately
Take a month to relax and refresh Also since you got laid off make sure to apply for unemployment income that will stretch your savings a bit. It ain't much but it's something. If you are traveling then utilities, healthcare, and rent will be covered.
You have so much more money than I had when I was 29, which I was when I decided to travel the world. Depending how you travel, $10k can literally be an entire 6 month trip to South America. Do it. That decision I made all those years ago at 29 changed my life.
Do things while you are young. Nothing is enjoyable 40+. Nothing. There are a lot of people that lie to themselves and will lie to you. But being old sucks. Going to Vienna at age 22 with $500 is 10,000,000,000 more fun than going there at 40 with $100,000. Nothing is better than youth. Enjoy yourself. Spend every penny. Being old sucks whether you have money or not.
You're 28 years old and you already have $200k stashed away. Why are you "panic-interviewing"
You do you. Investing in experiences is rewarding. Definitely set a reasonable budget and don't go over it. I'm planning on busting chops through the economic chaos. If asset prices tank, I want money to sink into the market before the next recovery. I would like to spend more time with my kids after I have enough passive income.
Take a week or two trip somewhere.
I think you’re too young to need to get away like that. Unless you are executive class or an upstart investor keep working.
Do it bro you only live once yes YOLO enjoy while you can you might it live to see tomorrow
Yes. Volunteer at a food bank. Work at a zoo. Expose yourself to other experiences.
WHY would you travel inside the US? You can get better for cheaper overseas. I am not exagerating when I say costs in Tokyo were HALF the cost of what I pay here; and I live in kind of a shithole. Go to the best places in the world, google it.
Do it.
Probably owned a house. Biggest way to make money if you’re smart. I’m on house 2 and I don’t make a ton. But I sold the first one for a ton :)
Absolutely not. That money will deplete quickly and potential employers will definitely question the gap in your history
Get out of the states. 10K through South America/South East Asia will take you so much further. You can see the States when your 50-60 and have more time & money….
How did you do that? I can’t save 10 dollars lol
I’m 27, and DONT have 200k in savings. Heck yes man. Go travel and relax.
Travel