New guy to this forum

[usc_et]

Hi everyone,
my name is Eric, and I am new to this board. I found you guys through the simple living discussion boards. Someone there recommended this site. My vitals:

I am 31, single, but in a long term relationship. Not yet engaged, but I am planning and scheming when, where and how. Terriffic girlfriend, three years my junior. Been dating for three years.

I live in Los Angeles, attended USC as a business major (hence my name). I spent the greater part of my early to mid twenties spending too much money to make up for other insecurities. I have since cut my spending down dramatically, and fortunately, increased my income at the same time. I have been able to save quite a bit over the last two years, but home ownership in Southern California seems such an impossibility. I make around 100k, and my girlfriend (with whom I will be buying) makes around 50k, but it's just not enough in this insane market. I have no debt and she has some student loans and a car loan.

I enjoy hearing other people's perspectives on things relating to money, housing, life, relationships. I find that you learn more from hearing other people's stories than any other way.

I am also a die hard sports fan, especially USC football. When I get tired of the money related reading, I head over to the sports sites.

I will probably be spending most of my time in the young dreamers forum. See you all there.

[maddythebeagle]

Hey, welcome aboard. What age do you plan to retire early? That simple living discussion boards is kinda out there (at least the money board). The frugal section is entertaining.

[yakers]

Welcome USC_et,

My wife has done grad work at both USC and UCLA, which makes for some internal tension durning the annual football game. We live in Pasadena, pretty close by southern Cal standards. Couple ideas: start saving, time is on your side. About 25 years ago I started saving just 5% of my gross. In the last few years I have increased the % but this has worked out for me. Real estate, only get it if you plan to stay a while. I refinanced a house because of a divorce in 1990, it took to 2000 to get back to the same price level. California is fameous for boom and bust real estate. But if you will be here long enough then go ahead and buy. My house is now paid off which is nice as I near retirement. Don't know if it would interest you but there is a small but active Vanguard Diehards group in southern Cal. The folks I met seem just like the posters on this forum. Smart people with a variety of approaches to life and finances but generally successful in being able to see past the financial propaganda of consumption giving away personal responsibility, and income, to financial managers.
Southern Cal tends to be a high pay high expense area. If you can grab the pay and keep expenses low you can accumulate some nice money for investments and retirement.

[laurence]

Welcome, and congrats on back to back national championships! How y'all convinced your quarterback to stay is beyond me, although I bet he is enjoying being the biggest of BMOCs.

SoCal native, as well, DW and I make slightly less than you two do/will, but houses have rocketed up since we bought in 2001, I don't envy you. I can tell you my neighborhood has softened about 5% over the last six months, so their may be light at the end of the tunnel. You've gotten the standard recommendations for reading, right? millionair next door, money or your life, 4 pillars, etc.?

[OldAgePensioner]

USC_et, welcome. I did grad school at USC while working in South Bay.

Yakers,
St. Xavier Warde School is still there. Passed it yesterday. I used to get a Fatburger on Orange Ave. every Sat. aft after hiking Angeles Crest.

[usc_et]

Good stuff folks,

Maddy: I agree the simple living forum is a little out there. This one seems much more pragmatic. More my style. Although, I'll certainly still check in over there once in a while.

Yakers: Good advice. As I mentioned, I have wisened up in the last couple of years and gotten my expenses down and financial life in order. Now to keep it moving forward. I have no debt, and contribute the max 14k to my 401k. I also save $1750/mo in an after tax account at ING, primarily intended to be a downpayment someday. That is up to appx 50k. I also save whatever I can after that in a schwab acct (appx 10k), which I invest in Mutual funds, intended for longer term savings. I haven't planned out when I would like to be able to retire. I need to do that, and most likely, should sit down with the girlfriend to do that. I feel like there are too many unknowns at this point: when we'll be able to buy a house, and how much we will pay, kids.

Laurence: Thanks, I'm just itching for the season to start! I can hardly wait to see kickoff tomorrow! I have family from Hawaii, so it will be fun. I have been hearing a lot that the market is no longer blazing hot. I'm not expecting a "bubble burst" but need to see prices at least stay where they are for a while. But when we buy, it will be with long term intentions.

Thanks again all. I'll be around.

[wildcat]

Quote:

Maddy: I agree the simple living forum is a little out there. This one seems much more pragmatic. More my style. Although, I'll certainly still check in over there once in a while.

Good if you want to buy treasuries/cds your whole life

Quote:

Thanks, I'm just itching for the season to start!

Should be rough in the Pac 10 : jk of course

[maddythebeagle]

Quote:

Good if you want to buy treasuries/cds your whole life

One recent person on the money forum there was looking for ways to run out on her car loan that she was upside down on. Numerous consumer junkies taking out helocs. Another person quotes page after page of dubious "studies" on how credit cards are evil.

The frugal/tigtwading section is good.

[usc_et]

Quote:

Originally Posted by maddythebeagle Another person quotes page after page of dubious "studies" on how credit cards are evil. The frugal/tigtwading section is good.

Haha! I know exactly whom you are talking about. I actually had a rather lengthy and sometimes heated exchange with her/him (?). Another poster had made a comment in response to her articles that credit cards and not evil, but simply a tool, neither good nor bad. I agreed, and the debate was on!

[wildcat]

Could just be me but a lot of the people from the SL forum seemed to deprive themselves to the point of unhappiness. May have been why you were attacked.

I think that a lot of people on the SL frugality forum are being frugal to survive rather than being frugal to retire early.

[Sheryl]

Quote:

Originally Posted by TromboneAl I think that a lot of people on the SL frugality forum are being frugal to survive rather than being frugal to retire early.

And some because they believe it is the "right" thing to do - ala "Live Simply so that others may Simply Live."* *

Not saying that's bad or wrong, just that it isn't always a cause and effect relationship.

[template]

Quote:

Originally Posted by wildcat Good if you want to buy treasuries/cds your whole life

That worked for me, Wildcat. Remember that there's more than one way make it to early retirement with a decent nestegg.

Different strokes for different folks.

[wildcat]

Well I didn't say it would not work but I am sure you are one of the few. Hope inflation doesn't heat up