http://www.thestreet.com/s/save-now-and-your-life-may-be-non...

Maybe you have all seen this.

It has probably been reamed all over the internet 10 times over already. But I just have to chime in.

Huh????

IS it really that impossible to save $4k of a $40k paycheck?

Um, would you rather live with roommates in your 20s or for the rest of your life, because I didn't really mind it when I was first out of college. I was used to it, I Was young, and yeah I had to suffer the discomfort another year or so before we could buy a home. But it was so WELL worth it. It is like a little sacrifice for more later. If i had to do it for a few years, so be it.

I just roll my eyes that single unattached 20s can't possibly save 10% of their income.

I do have to admit that I did not put a huge priority on saving for my retirement in my 20s. Sometimes I regret it a bit, sometimes not. But I guess we lucked out saving all of our money to a house which was our best investment like ever. Just has bought us tremendous financial freedom. But yeah, driving the old clunkers, living with roommates, eating ramen noddles, etc. is far more suited to a single unattached 20-year-old than a family of 4 or someone of middle-age. I mean come on.

I guess I just don't get the whole instant gratification thing as I find not falling it for it has been far more rewarding in my own life. IT means you don't live up to your income, you have more time for your money to compound, you pay less to debts, etc. These are all of the benefits of saving young.

Maybe I could agree with this guy a bit. I really never saw the point of saving money while I was in college and I don't regret it a bit. But this is more of an anti-debt thing. I felt my energies were far more productive to getting good grades in school and avoiding debt than to building up cash that I didn't have. The whole point was to take a risk and lay the foundation for the rest of my life.

So anyway, maybe I could agree to some point where I can say I was successful not saving money from really early on. As long as I hit it gangbusters right out of college it really made no difference in the end. So maybe I could kind of sort of see his point. But I am still at a loss why $40k is such an impossible wage to save money on. I know plenty people living in San francisco making less and saving more. It's one thing to make an excuse not to save when you are trying to pay for college (for the whole point of a bigger wage) and pay for rent in an insanely expensive area. It's quite another to make excuses when you are out in the real world, because then really when are the excuses going to end? IF you're not worried about paying for college and having enough time and energy to keep up your grades, what the hell are you doing. I guess I am also a big believer in saving as much as I can while I am young and healthy in case something happens to me and I can no longer work. I don't exactly take it as given that I will be able to work in this capacity forever. You just can't.

OF course someone who doesn't believe in saving in their 20s and doesn't see how they can live a comfortable lifestyle on $40k/year (yes I realize it is NY but my hood is actually more expensive) well, they will have problems. If I could find some decent benefits for healthcare (like one of the abundant government jobs around here) I could support my family of 4 on $40k easy peasy. We could live QUITE well actually. I mean, is this guy for real? Um, the reason is because I Saved so much in my 20s - even more ironic. It means I didn't buy a ton of crap I didn't need, live up to a lifestyle I couldn't afford, or rack up any consumer debt. I am not sure driving older cars and living with hand-me-downs will ruin my life in comparison to the tremendous financial freedom we share compared to most of our peers. But you know putting up with less in our 20s means we no longer have to. Plus, gosh, the most ironic part is I agree with his philosophy. You do need balance in your life. sometimes it is good to enjoy now while you are young and healthy. I guess that is the whole point for my financial goals right now - I want to work less while I am young. That sounds far more pleasing than retiring fully at 65. So far we were significantly able to pull that off at 25 because we did some crazy saving in our young 20s. I mean neither of us has really worked very much the last 5 years since we decided to have kids. I am just ramping up again, focusing on retirement and such.

I guess the big thing where I have to draw the line or disagree is that money will buy you happiness. Like my kids care if we walk down to the park and go down to the public pool every day or if we spend our days at Chuck E Cheese. Does it matter if I drive a $20k car or a $1k car? Does it matter if I have all new items in my house or mostly used? Does it matter that we eat home cooked meals every day instead of eating out? Does any of this have an impact of the quality of my life? Not at all... Once you realize that savings in your 20s is not a big deal at all, and you will find your 20s FAR more pleasant. Then it should just get easier from there.

But hey, what do I know?

He says, "If you really believe you can get through your 20s like that and not be absolutely miserable later in life, be my guest."

Um yeah, I think for MANY of us here saving while we were young (going that extra mile when we were young) really made life easier later in life. I guess it is frustrating to see how he has it all backwards. It is easiest to clamp down on your finances when you are single, in your 20s and completely unencumbered. You should have more youth on your side to work more and live in more difficult situations. Plus you won't be letting your debt compound for years AND your savings will also be compounding for YEARS. win-win-win.

Gosh, sometimes you just have to rant.