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27-10-2020, 17:14   #31
Cantstandsya
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Originally Posted by DellyBelly View Post
I would disagree with that. I know plenty of people in their early 30s who would have more than 100k in savings. Some of course is via inheritance but mostly though saving hard. A person on 80k plus (which is average enough in Dublin) should be able to save this with a bit of disciplince
Is this post a joke?
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27-10-2020, 18:12   #32
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Originally Posted by DellyBelly View Post
I would disagree with that. I know plenty of people in their early 30s who would have more than 100k in savings. Some of course is via inheritance but mostly though saving hard. A person on 80k plus (which is average enough in Dublin) should be able to save this with a bit of disciplince
It's hard to know if this is trolling or just that you live in a very small bubble.

No offense, just intriguing.

The median household income in Dunlaoghaire Rathdown is 66k , one of the richer parts.

The % of people on 80k to 100k is very small. 58k people, statewide in August 2018

Last edited by Danzy; 27-10-2020 at 18:16.
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27-10-2020, 18:18   #33
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Originally Posted by DellyBelly View Post
person on 80k plus (which is average enough in Dublin) should be able to save this with a bit of disciplince
The median salary in Dublin as of last year was between 35-40k, ie half the population earn less than that. 80k is not average or near average by any metric at all.
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27-10-2020, 19:20   #34
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The average person should surely be able to save 100k by their 30th birthday should they not? With a bit of effort? No? A couple looking to buy a house at age 30 could have 150k saved between them? Unrealistic or not? Would be less than 200 quid a week to put away.


Edit: Assuming they go to college and start work at 22.
You forget the average 29-34 year old graduated during a recession. Putting a big dent in earning power for a good 5 years.
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27-10-2020, 23:21   #35
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Originally Posted by Springy Turf View Post
For those quoting statistics please quote your source (lots of posters). And advice for everyone else including myself - disregard any stats that are trotted out without a source.
Fair enough. I said between 35k to 40k -

https://www.cso.ie/en/releasesandpub...es2018/region/.

(645.78×52 = 33,580.56)

https://www.independent.ie/business/...-38239841.html

"Dublin City had the highest earned income per person at €39,999"
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28-10-2020, 00:17   #36
 
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Originally Posted by jill_valentine View Post
Fair enough. I said between 35k to 40k -

https://www.cso.ie/en/releasesandpub...es2018/region/.

(645.78×52 = 33,580.56)

https://www.independent.ie/business/...-38239841.html

"Dublin City had the highest earned income per person at €39,999"
Thanks for referencing. I didn't mean to single you out (even though my post was below yours), there is a tonne of posts in this thread with completely unreferenced claims of facts and figures. A lot of them don't stand up to scrutiny.

I'm not 100% clear on if that median is full time only or includes part time. It's good to see the distribution page, showing how the mean is a lot higher than the median because of the small number of very high earners.
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28-10-2020, 02:08   #37
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The obvious question is then what was your choice regarding the car? Did you insure it for 7k?


People convince themselves that they *need* things that just make their life more comfortable. 7k on car insurance probably equates to well over 10k a year running costs on a car. Spending that to be able to drive a few minutes down the road to work on your off days to eat free bread seems the height of madness to me
It might have been worth waiting for my reply before Newstalking off into the distance there at the end - I didn't even buy the car, because the insurance would have been 7k. I had the luxury of being within range of public transport, so I could and have managed without one - though if I'd been back home in the country I wouldn't have had a choice (something I wish people remembered when casually suggesting people move out of expensive old Dublin, but that's another argument.)

I have to say, this has been a fairly eye opening day about how much stock to put in some of the speculation here, where keen grasps on the modern economic landscape have the average wage at 80k and we could all be sitting on 100k savings if we just used prepay phones.
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28-10-2020, 02:38   #38
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Originally Posted by jill_valentine View Post
It might have been worth waiting for my reply before Newstalking off into the distance there at the end - I didn't even buy the car, because the insurance would have been 7k. I had the luxury of being within range of public transport, so I could and have managed without one - though if I'd been back home in the country I wouldn't have had a choice (something I wish people remembered when casually suggesting people move out of expensive old Dublin, but that's another argument.)

I have to say, this has been a fairly eye opening day about how much stock to put in some of the speculation here, where keen grasps on the modern economic landscape have the average wage at 80k and we could all be sitting on 100k savings if we just used prepay phones.



I observe that people tend to spend a sizeable amount on income on crap. If you think it's not realistic to save it then that is your opinion. I know that it is not impossible. A reasonable cross section of society in their 20's could save 200 quid a week. You wouldn't need to be on 80k a year to do so.

If you went to college then you probably survived on very little until you were say 22. If you stretched out that living like a student for say 2 years while working on a fairly low paid job, you would still be easily able to save 200 a week. No?



Not sure why you seem to think that prepay phones work out as cheaper than billpay btw.
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28-10-2020, 07:27   #39
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Originally Posted by Donald Trump View Post
I observe that people tend to spend a sizeable amount on income on crap. If you think it's not realistic to save it then that is your opinion. I know that it is not impossible. A reasonable cross section of society in their 20's could save 200 quid a week. You wouldn't need to be on 80k a year to do so.

If you went to college then you probably survived on very little until you were say 22. If you stretched out that living like a student for say 2 years while working on a fairly low paid job, you would still be easily able to save 200 a week. No?



Not sure why you seem to think that prepay phones work out as cheaper than billpay btw.
Because they absolutely do.
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28-10-2020, 08:33   #40
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Because they absolutely do.
How so? My bill is 9.99 per month and essentially gives me unlimited everything. What prepay options are cheaper?
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28-10-2020, 08:34   #41
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If you want to see how out of whack the idea that people on full time incomes are on such high salaries look back over the reactions and then further reporting at the time when Leo Varadker mentioned it. Remembering that the few high earners skew the average upwards .

https://www.irishtimes.com/news/poli...272%3fmode=amp
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28-10-2020, 08:50   #42
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Originally Posted by jill_valentine View Post
Fair enough. I said between 35k to 40k -

https://www.cso.ie/en/releasesandpub...es2018/region/.

(645.78×52 = 33,580.56)

https://www.independent.ie/business/...-38239841.html

"Dublin City had the highest earned income per person at €39,999"
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The Dublin coastal town of Malahide had the highest average income of €78,631 of all 41 towns in the country with a population of 10,000 or over.
Holy ****, 78k per person That is absolutely nuts.
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28-10-2020, 08:55   #43
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Originally Posted by Donald Trump View Post
The obvious question is then what was your choice regarding the car? Did you insure it for 7k?


People convince themselves that they *need* things that just make their life more comfortable. 7k on car insurance probably equates to well over 10k a year running costs on a car. Spending that to be able to drive a few minutes down the road to work on your off days to eat free bread seems the height of madness to me
hey hey hey vouching in on this because it's really close to my heart...

I needed a car for my business, you can't go around distributing goods without 4 wheels. Looked for 7 months for not only a car/van and insurance. First of all van was out of question got immediately denied by brokers and insurers. Went for a car and despite having a 1 year cover on my partners policy and a eu drivers license since 2003 I got quoted 4500€ for the car I wanted. This hapenned after literally walking down south mall in cork going to each insurance company and broker and being denied insurance. Finally a broker got me this quote with XS Direct, the only one insuring drivers in this cirucinstances and obviously making this amount of money on it.

I was told by the broker "if you get a recent or new car that can go down substantially... well only chance now was trying to get a hire purchase agreement on a 2 year old car. Got that in the hopes the insurance would go down, it went down to 2700€ a year, it subsquently went down to 900€ last year and 800€ this year. I'm still paying the car of course, despite my business completely died with the pandemic, I got the payment break for 6 months but was told if I extended it now I would have that affect my credit rating as acording to them on the phone "the pandemic payment break is now over".

So thankfully I'm on pup and i'm using it to pay for rent the car and saving for the car insurance next year... I'm looking actively for WFH jobs every day and trinyg to get my business online but it's not exactly easy when there's no cash flowing meaning no way to buy new goods when your suppliers are all scared of sending you stock without any idea if they'll be paid...

So since I got the car I cannot help but feel completely ripped off by insurance companies, and I know perfectly well I'm not the worse off. But when you walk into every insurer in south mall, ring all of them and they tell to your face "we won't insure you" for months on end and then the only one available is at exhorbitant prices it really makes you mad. Specially because you know it's all down to them making millions out of regular people and using, conveniently, claims ro raise the price of insurance for everyone. i really hope the EU would put them all in check and make them payback the excess they charged to people. I can only dream of course...
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28-10-2020, 12:37   #44
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Sure you can buy a house for 350 iPhones.
You can buy 2 houses for 350 iphones in some parts of the country
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28-10-2020, 12:44   #45
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More than capable of doubling 49 but thank you.

The average wage, like the mean of any highly variable data set, is skewed much higher by the ultra high earners. The median would be a much more appropriate figure and it would be much closer to the average industrial but from what I can tell isn't available. The average industrial wage does not include part time workers which is exactly why I use it. It ignores the extremes at both ends of the distribution.

If Jeff Bezo's walked into a bar the average person in the bar would be a billionaire etc.
Well that will not happen in the Rep of Ireland in the next 5 weeks
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