Homeowernship in CA

[qwerty]

To be fair, who is making much more than that in their 20’s or 30’s?

Apparently everyone in Silicon Valley

In accounting/finance senior managers here in OC can get up to the 185K range for base but is has to be a good paying company. And I would say that is on the very high end of the range. Those people would usually be in their late 30s/early 40s.

That’s why I always wonder how people can afford these crazy prices for homes on just w-2 incomes.

 

[Imnotmoving]

Apparently everyone in Silicon Valley

In accounting/finance senior managers here in OC can get up to the 185K range for base but is has to be a good paying company. And I would say that is on the very high end of the range. Those people would usually be in their late 30s/early 40s.

That’s why I always wonder how people can afford these crazy prices for homes on just w-2 incomes.

A good reason to encourage our kids to start their own businesses. Why give all your time to someone else for a couple hundred thousand dollars.

 

[sleepy5136]

The amount of resources that millennials and gen Zs has now compared to the previous generations is night and day difference. For example, I can google my way and watch YT to learn how to build software. Hell you can even listen into data structures lecture videos from MIT without paying their tuition.

Each generation will have their own challenges but at the end of the day it’s the parents responsibility to grow their kids to have them be able to take those challenges face on.

Paying your kids to give them an “easier” lifestyle will work but it doesn’t help your kid grow to be adults.

 

[Imnotmoving]

The amount of resources that millennials and gen Zs has now compared to the previous generations is night and day difference. For example, I can google my way and watch YT to learn how to build software. Hell you can even listen into data structures lecture videos from MIT without paying their tuition.

Each generation will have their own challenges but at the end of the day it’s the parents responsibility to grow their kids to have them be able to take those challenges face on.

Paying your kids to give them an “easier” lifestyle will work but it doesn’t help your kid grow to be adults.

Not paying them, but sharing my resources. Of course they need to be doing their own thing too.

 

[sleepy5136]

Not paying them, but sharing my resources. Of course they need to be doing their own thing too.

that’s the same. No one is really mentioning how poor financial literacy and spending habits are the root cause of this all. The amount of kids I see with LV bags, nice cars that are financed at atrocious rates, and the latest iPhones at the age of 22 in Irvine is insane.

 

[sleepy5136]

Why wouldn’t parents help their kids? I mean everything we have will eventually be theirs, right? People talk about what they will leave their children but why not share it all with them now?

No one is born into this world entitled to ANYTHING. I will never tell my kids anything about what they will or will not have.

 

[Liar Loan]

I don’t think they make that much, at least not in their 30s. Maybe after 20 years of reaching. I looked up a principal in TUSD recently out of curiosity and they made $185,000 as their base. No bonus.

My wife has her Masters and 20+ years in, so she has maxed out the teachers' payscale and makes $140k.

 

[Imnotmoving]

that’s the same. No one is really mentioning how poor financial literacy and spending habits are the root cause of this all. The amount of kids I see with LV bags, nice cars that are financed at atrocious rates, and the latest iPhones at the age of 22 in Irvine is insane.

I had those things at that age because I worked hard for them and paid for them with my own money. That isn’t bad spending habits and I have excellent financial literacy.

 

[Imnotmoving]

No one is born into this world entitled to ANYTHING. I will never tell my kids anything about what they will or will not have.

Actually in some families it is expected to pass down generational wealth. People with that generally live below their means with the sole intent of preserving what the family has built. It 9s meant to be passed down not squandered.

 

[sleepy5136]

I had those things at that age because I worked hard for them and paid for them with my own money. That isn’t bad spending habits and I have excellent financial literacy.

Really? At the age of 22 you're working your tail off to get luxury items and own a home without mommy & daddy money? I call BS.

 

[Imnotmoving]

Really? At the age of 22 you're working your tail off to get luxury items and own a home without mommy & daddy money? I call BS.

Indeed I was. Mom and dad did not sponsor anything, not college, not a wedding…nada. I knew from an early age I was on my own and would have to create the life I wanted to live in. So I did and still do.