The Workermonkey

Friday, February 03, 2006

Turning 25 

# posted by Damon @ 2/03/2006 01:38:00 AM

I think this is a good topic, but the poll options won't do it justice. So let's hear the ideas here.

Personally, I group ages 23-29 or so. This can be the most independent time of our lives. After college, we finally get a real income (maybe) and become fully indepedent of our parents (maybe.) Although I am sure a lot of people were independent before, and an increasing number is not yet, I for example, am not living abroad and studying another two years on my own (actually I am, but I have enough money only because I lived expense-free for a year.) But on the other hand, as we get farther in jobs and become financially more independent, it's likely we will be getting into family life and thus losing indenpedence. So, right now is the time we can do what we want.

I have a friend that just turned 27 and she talks like she's 60. She is trying to plan all these travels and things to do as though she won't be able to do them in five years. I think she's nuts, but it is wise to have some sense of urgency to be sure you get to the things you want at all.

I was surprised to find that the guy I am renting a central Stockholm flat from has just turned 24, and is going traveling for four months. Those two things are both normal I guess, but how can he put them together? He owns an expensive flat, and is taking 4-5 months off of work to travel. Maybe there is some Swedish governmental grant program for young men to take sabbaticals, I wouldn't put it past them.

9 comments

Im unsure about Sweden, but if i remeber correctly, in Germany at age 18 you had a 1 year service to government commitment to fullfill. This is either in the Army or in civil service. After that you get a year of free time to travel around the world. Then at age 20 you either go to a university or go to work.

By  wyldshaman, at Friday, February 03, 2006 9:16:00 AM  

Sweden has service too, but many students can skip it. I have some classmates that did it, and some that didn't. Does "you get a year of free time.." mean that someone is paying your expenses? Some Americans and Britons take a year between high school and uni, but there's no money for it.

By  Damon, at Friday, February 03, 2006 9:31:00 AM  

Funny how you equate family life with losing independence! The way i see it happening is that things just change. Yes, a simple explanation but thats the best way i can describe it. Your priorities in life change, your attitude changes, you want different things. So when that 'family life' time comes you dont see it as a bad thing. You want it to happen.

Also, with the addittion of 'real' income you lose independence. Your tied to your job stuck with what...2 weeks a year for vacation?

But its not all negative. I enjoy growing wiser and more mature. You can develop as a person and get involved in hobbies/clubs/whatever in your spare time and do the things you love. Your life becomes more focused on your passions and you know what you want out of it. Likewise we have to remember not to become narrow minded and stuck in our ways.

By  Brancibeer, at Friday, February 03, 2006 10:42:00 AM  

Having a family is a huge loss of independence. When I am done with my studies here, I could move anywhere in the world, and no one would really complain. But if I had a wife and kids, that is many more lives the move would impact, and I'd have to investigate all their situations and input. But I don't view it as negative either, independence is nice, but not a life goal. Income does give you freedom and independence, so long as you don't decide that means you can afford a bigger house, or more expensive car. Actually a better way for financial independence is to spend less. I had saved enough money to live in Sthlm without working, but now, because I got a job here, I decided I could afford a better flat in the city, now that I more than doubled my rent, I have to work, whereas before I did not, so it's my spending that hurt my independence. And, of course if you have tons of money, then you don't have to do anything at all except invest it wisely.

By  Damon, at Friday, February 03, 2006 1:10:00 PM  

never touch the principle. ever.

By  Supreme Monkey Overlord, at Friday, February 03, 2006 4:25:00 PM  

What principle?

By  Damon, at Friday, February 03, 2006 5:24:00 PM  

never touch the principle investent. if you were to win a million dollars tomarrow, don't touch it. just put it all in the bank and don't touch it. live off the intrest but don't touch the million. its large enough to work for you. i think the saying goes best for kids of rich people. don't let your kid screw up everything you've built because they're a fucking retard with money. thus trust funds.

By  Supreme Monkey Overlord, at Saturday, February 04, 2006 9:48:00 AM  

Oh ok I got ya, and agree. I thought you meant principle as in "basic rule" not in financial terms.

With current interest rates, I think you'd need about a million with a conservative lifestyle to get by. Which is nice because a couple of years ago, you'd need five million. But it all depends on how good you are with if. Of course, if like you say you don't want to put it at risk, and if you are living off the income, then you can't get much more agressive than CDs, which by the way people, are almost 5% for six months now so no one should have money sitting in their 1% or less checking account if they won't be using it in the next half year.

By  Damon, at Saturday, February 04, 2006 11:15:00 AM  

Two ideas from Thoreau:

"the man who goes alone can start today; but he who travels with another must wait till that other is ready, and it may be a long time before they get off."

"But I would say to my fellows, once for all, As long as possible live free and uncommitted. It makes but little difference whether you are committed to a farm or the county jail."

By  Damon, at Saturday, February 04, 2006 11:57:00 AM  

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