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Originally Posted by project15
I'm young. I save 10%. I don't feel that I'm squandering my youth. Sure I'd like the big plasma tv and other things that I'll enjoy right now, but the fact is...I'll enjoy them more in the future knowing that I can buy them when I'm old and still be OK in retirement
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Good for you!
I think you touch on a big problem. Kids (okay, young adults if you must) who get out on their own for the first time and want to immediately duplicate the lifestyle they had while living with their parents. They just don't comprehend that their parents didn't live that way at that age. My daughter is 11 and all she has ever known is the lifestyle we have today - nice house, nice cars, frequent vacations, dining out, and a 6-figure income. She wasn't around when I lived in a 1-room efficiency apartment with a sofabed (bought used), a desk (found in the trash), a chair (given to me by a college friend) and not much else. Oh, and I shared that apartment with a family of cockroaches. As a parent, part of me doesn't want her to ever have to live like that, but another part of me recognizes the tremendous importance of working your way up in life - not having everything handed to you from day one - and learning to appreciate what you have.