Millionaire who bought a home at 26 regrets paying off his mortgage early

Another humblebrag article from Sam aka Financial Samurai:

But the biggest downside that no one talks about is the complete loss of motivation to take on calculated risks and to work as hard as you can to grow your wealth.

That’s also the biggest downside of moving away from the Bay. Less financial pressure means less motivation to achieve.

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That guy is intolerable. Oh poor me, we took too many long vacations. If all he cares about is maximizing wealth, then he should have stayed working and worked harder to climb the ladder more.

The one about cutting back expenses when they were paying $10k/mo (I think it was that much) for a doula when neither of them work was just idiotic.

It seems all writings from Sam are just various degrees of humblebrags. Some aren’t even that humble.


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Sam is an idiot

Amen to that :slight_smile:

If I have no debt with 3M, I just simply put half in s&p500 and the half in QQQ. I would earn average 250k a year. Quit my job, I have no problem with low motivation :wink: (perhaps I am too lazy)
We only have one life. Enjoy as much as we can :wink:

What about inflation? That 250K won’t be enough in a few years.

There are years the market goes down. If you are 65, $3m
is ok. At 45 you will need double that. Remember 1967-1982
2000-2016. Plenty of long stretches when the market is under

That’s the thinking of baby boomers… be patient. Millennials have no patience. They want lifestyle :slight_smile: NOW.

They always have. That’s why they have more debt. They are finally buying often with parental help. The helicoptering
continues. My wife has two clients looking currently. With the parents heavily involved, one dad is a lawyer. Like driving a car with 6 kids in the back seat. Tons of :star_struck:

No they don’t have more debt. DH and I are responsible millenials. child care costs - I have two kids, 2 years apart. For about 4 years, I was paying $4000/month in child care costs (daycare, nanny would have been more). Between that and rent, we couldn’t save anything. we live simply, only spend on vacations to see our parents in the midwest, I cook most meals, other cost savings. Many millienails I know do the same.

I do hate these gross generalizations. we both have amazing parents who don’t have the extra cash to help us purchase, and were only able to as stock from my husband’s startup cashed out, after 5 long years of working for less than market salary (i.e good salary, but non-FAANG). If you have a rich parents, eh, might as well use their help if they are offering.


Millennials are $1 trillion in debt — more than any other generation in history. Millennials have now racked up over $1 trillion of debt, according to the New York Federal Reserve. This is a 22% increase in just five years, which is more than any other generation in history.Mar 11, 2019

You have to compete with people with parental help. Pretty common these days

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that is because you boomers are so rich. you guys have the money and can help your kids. :stuck_out_tongue_winking_eye:

Unfortunately most boomers are dirt poor and will have to survive on social security. 45% have literally nothing saved

According to data from the Insured Retirement Institute in 2019, about 45% of baby boomers surveyed had no savings . IRI reports that about half of the baby boomers who don’t have retirement savings did have money set aside at one time, but they had to use the cash before retirement .


I’m also millennial and had no $$$ help from parents to buy our first house in 2011, nor would I ask for it.


I had no help either. I bought my first house at 22. An investment flip with four partners. 1976 was a very similar time.
Housing prices were skyrocketing. Inflation was 10%
per year. Unemployment was 10% in 1975. I just got laid off from my first job out of school. Shortages for housing, gas, batteries, toilet paper.
World was a mess. Nixon had just been booted out.
Energy crisis. Car industry devastated. Solar and alternative energy were the rage. A Democrat was elected to save us, and failed miserably. Sound familiar. The more times change, the more they stay the same. Don’t believe the energy messiahs. They were wrong then as now. Same with the climate change false prophets. Earth day precipitated the biggest bunch
of lies from “science” in history. Of course Al Gore has a similar track record of lies and hypocrisy.

Then as now the news media terrorized everyone with false
propaganda. Like all the lies and poor science around covid19
I suspect if was just called a bad flu season things would have
been a lot less chaotic.

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