Quote Originally Posted by Turbo04
Started saving his money when he got his first job (that he's still at BTW) at 15, stayed at home with his partents till after college, then rented a house for a few years, now he has his own with wife.
unless he averaged savings of over 15k per year for 10+ years this still doesnt compute.

Even someone that is making 60k per year from the time they are 15 would have problems putting together the cash to buy a house at 25.

total before taxes 60k

~ payroll taxes per year: 20k (probably should be higher since he didnt have any deductions)
~ insurance: 100 per month if he was driving a beater
~ gas: 650 per year @1.25 a gal average (10gal per week)
~ misc expenses 6k per year
~ savings 15k per year
~ rent 9600 per year

total $42,450


these are low estimates using very high wages. Insurance and rent would be higher with no credit if he was even able to get an apartment. 10 gal per week for gas means you drive about 10 miles per day. Notice I didnt add in groceries, school expenses, cost of a car and about 1k other things that come up.

A better estimate would be using 20k per year wages from 15-18 ($10/hr)

30k from 18-22 ($15/hr)

40k from 23-present($20/hr)