…you can still do this, just watch the markets, budget carefully, choose careers that give you the flexibility and job security to rely on, work the overtime and be willing to make small sacrifices along the way. it’s a lot of work but the payoff is worth it and incredibly rewarding.
I agree and disagree. In that absolutist way that “anyone can get in shape” or “anyone can be president” “if they do the right things…” it’s like… you aren’t wrong. That said though- some people don’t have the support systems and live in situations where they can’t effectively save enough money to hope to leverage it for perhaps even decades. Decades may be better than never but… real life can be distilled down to “self actualization” and “results over excuses” but some things just aren’t practical for some people. End of day if you are willing and able to relocate- perhaps vast distances, there are homes in the USA for $100k and under and some are pretty nice too and even in places that people might like to live. That said- you can hustle as hard as you want but unless you already have connections and knowledge you aren’t buying a home anywhere near certain areas no matter the sacrifices or hustle if you are making Walmart money.
In areas of California you can qualify for a low income housing program if you make under $120k a year. $100k a year isn’t a lot of money but it also isn’t what I’d call “low income,” but in those markets- a family living on that budget is likely struggling. I do agree that it is doable and it is rewarding and it is worth trying for. Even in places or situations it seems “impossible” people should work towards it because things change and markets change so the worst case scenario is you fall short and have way more money saved and invested than otherwise. If you aren’t gonna have your own home having some money is better than no home and no money.
If a person hasn’t complicated their life and made certain choices or been led into certain choices and can down size, relocate etc. their possibilities really open up. So I will say often fear and reluctance to change and inability to sacrifice and self defeatist attitudes hold people back from things they could accomplish.
oh a fair bit of luck came into it too. it isn’t as if it’s a complete “pull yourself up by your boot straps” thing because that is bullshit. i had support, i had family to help with my littles at times and i was very lucky to live near an industry that has a career for myself and my wife. good fortune was an important aspect but it also came to us being willing to make sacrifices and our willingness to put in the work. and honestly, i was a bit of a defeatist. if my wife hadn’t pushed for us to start looking we’d still be in our crappy apartment.
I’m glad it worked out and you found a good partner to help move things along. It’s also heartening to hear you speak on the component of luck. I know for myself as well as many others too that can be a make or break lol. I apologize if I misunderstood your original comment or misconstrued what you were saying.
In light of your clarification I think we are just in agreement then by and large and I can retract my caveats as they relate to my agreement since we seem aligned on those points.
To your broader message sacrifice and delayed gratification are key components and difficult things, but save perhaps those particularly lucky or blessed folks who have some drastic change in fortunes or overwhelming advantage- things like buying a home tend to be like running a marathon or learning a language- you aren’t likely to go from zero to done overnight- it’s going to take preparations and sometimes hard choices and actions yo get there.
I would add my own piece that it really never is too late either for those who might read this and think such things. Yes- making the “right” choices early on and having more time to build on those can result in greater returns and reaching things sooner- but to anyone who may see this and feel behind their peers or like it’s passed them by- it hasn’t. Hard work and sacrifice, and maybe most people won’t go from debt and/or minimum wage to riches in the time they have- but it can always be better, and even if you’re 40, 50+ there’s still time to improve your career or money situation, education, skills, and lifestyle. Owning a first home at 40+ Isn’t the same experience as I’m your 20’s or 30’s but it is reasonable and it’s still your home. Making “good” money starting at 50 doesn’t give the time to build wealth like if you’d made that money starting in your 20’s but more money still spends like more money and you can still save and invest and grow and enjoy it.
If a person hasn’t complicated their life and made certain choices or been led into certain choices and can down size, relocate etc. their possibilities really open up. So I will say often fear and reluctance to change and inability to sacrifice and self defeatist attitudes hold people back from things they could accomplish.
In light of your clarification I think we are just in agreement then by and large and I can retract my caveats as they relate to my agreement since we seem aligned on those points.
To your broader message sacrifice and delayed gratification are key components and difficult things, but save perhaps those particularly lucky or blessed folks who have some drastic change in fortunes or overwhelming advantage- things like buying a home tend to be like running a marathon or learning a language- you aren’t likely to go from zero to done overnight- it’s going to take preparations and sometimes hard choices and actions yo get there.