1 Burst results for "Infrom Spence"

"inform spence" Discussed on AM 1590 WCGO

AM 1590 WCGO

08:06 min | 1 year ago

"inform spence" Discussed on AM 1590 WCGO

"The music of the nineteen twenties thirties this forties one's for the young and some people of the good big bands working because today I feel like and from time to time we have talk interviews about with the people who made the people music so popular that are older so there's most every of the time Saturday people they're evening getting close started to retirement at eight PM right here on W. because C. geo you're concerned about money the original are very different big when you're twenty band two years showcase old just coming out of college join me won't you first of all you're an idiot don't take it personally when I was twenty two years old I was an idiot the whole reason I was depositing money in the bank is because there was a cute girl I would you know I could have set up I could set up a direct deposit I never would have gone to the bank but I went in there every two weeks and deposited money in the bank and hi you're just got when you're when you're in your twenties you just have just a moron so when you're twenty years old you have twenty two year old money issues and what are those issues well deep down you know that you already have to start saving for retirement which is like a huge buzz kill but you know there's going to be a small percentage of twenty two year olds that take this seriously and I took it seriously and what I did was I sat down with a classmate of mine and we built a spreadsheet I'm telling you we did this we were twenty years old we built a spreadsheet and we use the assumption that the stock market grows at eight percent a year and we set up contributions to an IRA and the growth assumptions over time and at the end of it we said we would be we you know we would have about two million Bucks in you know there's a lot more resources available to you I mean we were doing it on a mac classic I think I think it was the computer I had was like a mac classic or maybe like an L. C. something or other I forget this is in the early days of mac I've been a mac user pretty much my whole it like apple like my whole life like my dad my dad had somehow just did I just let you know how white Gee this is Britney and apple their first computer was called the Altair which was like the apple one then they had the apple two then they had the apple three apple three was like it was a super expensive computers like four thousand box and I want to say I have like a hundred and twenty eight K. of ram or something like that then they came out with the apple two plus then they came out with the apple two E. so we had an apple three and we had an apple two E. and we had a lot of games for the apple TV I used to sit I'm that's where I really started gaming was always playing video games on apple to eat and now when I went to college in the weird thing about the Coast Guard academy was the Coast Guard academy and Dartmouth we're the only schools in the country that we're giving students Max everybody in the whole the rest of the country was on PC's they were the only schools in the country they were giving students Max so I had a mac classic and I have this L. C. four eighty or whatever was in band after that I bought in I'm back in nineteen ninety eight the original IMAX the Bondi blue I'm actor thing believe like fifty pounds and one after that then I actually went to a PC I went to a dell and I'm and I'm I don't know what I'm talking about this so you have to start saving for your retirement the spreadsheet we were building the spreadsheet so I mean we took a really seriously and I opened up an Iranian nineteen ninety seven and I started contributing to the Iran and I was contributing money to non retirement accounts as well and the other thing you have to do is you have to build up an emergency fund fast so I would say that within six months of graduating from college we had all the student loans paid off except for ten thousand and we have an emergency fund of ten thousand and we were saving so and then you need to control expenses and what your expenses will you have rants informed Spence's bit basically four things rent car food and fun that's it when you're twenty two you have ranks car food and fun so let's talk about rent the nice thing about when you're twenty two is that you can live in a cardboard box in you don't really care you can have a mattress on the floor he can be sitting in a lawn chair in your living room like it you just you just don't care so you can you can cheap out on rent when you're twenty two I paid three hundred fifty Bucks a month in nineteen ninety six for me my fiance and it was amazing it was actually it was amazing apartment it was I would actually go back to that apartment I would go back to that apartment so it was tiny there was this crazy guy downstairs who put tinfoil over his windows because he worked the nights at the safe way he would wake up anyone like start talking to himself he would like start yelling there was this other guy downstairs name Fred Fred used to smoke pot on the front steps this is back when that was like a you know you can do that now but that was like a big no no back then and he had his girlfriend and his girlfriend through a bunch of water on an electrical fire and shorted out the whole building the place was like it was his circus right but you don't care because your kids and we could have spent six hundred on an apartment we could have spent more we had the ability to do that we could have afforded it by the way over the course of two years we saved five thousand box in rant and that five thousand Bucks was the difference between us being able to buy that condo in California that we made so much money on it was that actually was the difference saving that five thousand Bucks the car I had a nineteen ninety five Toyota Tercel I had a car loan on maths I think the payment was like two hundred seventy Bucks a month my wife had a Mitsubishi of some kind that she bought use for four thousand box car insurance is a bit of a pain when you're twenty two that's going to be a bigger expense I always say you should buy used cars Toyota's Hyundai's Honda's under eight to ten thousand dollars that's the car you should have when you're twenty two and you can get a loan if you must but it's gonna be a five year loan at four percent interest food when you're young you will eat anything we ate Raman noodles we would buy Raman noodles for ten cents at the grocery store we would buy like twenty of these things at a time and we had one of those electric hot pots and we would make Raman noodles in the hot pot we were twenty two years old we bought generic brand to everything we started to figure out which generic brands were good the generic safe way coffee was delicious in our grocery bills averaged about fifty Bucks a week and we never really ate out maybe once a month we would get Chinese food for fifteen Bucks as for fun honestly we didn't really have any fun we had some friends in town we would like you know set a trash can on fire and drink a hundred party tracks but we never went to bars it wasn't like we were going to bars and we were just like running up a hundred dollar bar bar tab we never went to bars we went to the mall in Seattle and just walked around and that was our definition of fun I'm Jerry Gillian.