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Old 01-01-2018, 09:11 AM
 
5,759 posts, read 1,297,294 times
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Quote:
Originally Posted by ccc123 View Post
Please give a couple of examples please, Id like to check into them. Thank you.
Use craigslist. Most of the states called flyover country by the wealthy elite would qualify. You can rent a small apartment for $250 or more a month or a house for $500. Even at $7.50 an hour one could survive and not need roommates. All businesses need supervisors at one point. Someone works hard and is dependable will get a chance at that and make more money.

On top of that you need to think outside the box. In many towns in affordable areas there might be a house that needs some work. Hard for the owner to rent because of its condition. So you do a house contract on it, pay it off over say 10 years and its yours. Then no rent to pay and you own an asset. There is a town in the southern plains where I have rental property that had a home that could have been purchased for $1,500 cash. The owner just wanted it sold. Had a leaky roof and needed a lot of fix up but someone bought it and is living in it as the fix it up. With some sweat equity and time they will have a nice 1000 SF home and 20K in equity. I would have bought it I had know about it when it was for sale.

Anything can be done no matter what situation one is in. You have to have some ambition and not think that the only solution is a government handout.
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Old 01-01-2018, 09:14 AM
 
5,759 posts, read 1,297,294 times
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[quote=kyle19125;50560849]
Quote:
Originally Posted by jackwinkelman View Post
The notion that a large amount of American adults with dependents are living on minimum wage to survive is a fallacy. I would imagine that number is way less than 1% of the working population./QUOTE]

That's the problem with self-perceptions, typically they're way off.

https://www.nytimes.com/2014/06/10/u...imum-wage.html
No. I am going by real numbers not self perceptions or liberal fallacies.

Who Earns the Minimum Wage? Suburban Teenagers, Not Single Parents | The Heritage Foundation

2.9% of Americans make minimum wage. More than half are 16-24 yo old's. That makes less than 1.45%. Subtract out about one third for those who get tips along with minimum and you are down to 1%. Now subtract out those without dependents and you are under 1%. And this is not even taking into account that many of these jobs are part time. The person has a full time higher paying job and the minimum wage job is to supplement their income.

The NYT story is very misleading. Throwing around 80% of this or that when the whole group is only about 2% of the working population. But I do see that the liberal baloney about minimum wage stirs up their base especially the far left even though its not close to being true.

Last edited by Oklazona Bound; 01-01-2018 at 09:25 AM..
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Old 01-01-2018, 09:17 AM
 
11,386 posts, read 5,880,809 times
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Quote:
Originally Posted by Submariner View Post
Normally money needs to be invested in something before it can grow. A pile of liquid assets will lose value due to inflation
[unless you are gambling on the currency-exchanges].

The 'truly wealthy' do not keep their assets in cash. If they did they would have never became wealthy.

Offshore tax havens have been the subject of debates for decades, and the IRS has hurdles in place to restrict your ability to bring money into the USA.
You have it backwards. The 'truly wealthy' can liquidate most of their US position in equities with a few mouse clicks and push it offshore. That wealth is largely in very liquid equities, not real assets. They can buy a passport anywhere in the world. The United States is only 20% of the world economy. There are plenty of other places they can invest. Capital flight would be catastrophic to the United States. My biggest concern is that we keep piling on the national debt and collapse the dollar. The smart money is going to see it coming and bail out to offshore accounts well before the event. I don't know about you but I have nowhere to hide because my net worth is largely tied up in real assets and tax deferred retirement accounts where I can't move the money. I get slaughtered by hyperinflation and a collapsed dollar. Most retirees have a huge problem. You only have to look back to 1980 to see the historical precedent.
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Old 01-01-2018, 11:42 AM
 
Location: Ruidoso, NM
5,170 posts, read 4,741,380 times
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Quote:
Originally Posted by jackwinkelman View Post
No. I am going by real numbers not self perceptions or liberal fallacies.
And yet you focus only on people who make exactly minimum wage. You really think that is sensible? The MW sets the floor for the lowest paying jobs. Anyone who got a raise and makes 10 cents more is in some totally different category?

An income of $16k (~$8/hr full time) is 21%ile. A 5th of workers (age 18-100) make less.

https://dqydj.com/income-percentile-calculator/

Any single worker with *dependents* who makes that little money will get subsidies because they are legally below poverty level. This thread is about single people *without* dependents, however.

And BTW, people who get tips are not MW. They have to claim the tips as income, or at least enough to avoid getting audited.
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Old 01-01-2018, 12:18 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,741,380 times
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Quote:
Originally Posted by ccc123 View Post
Please give a couple of examples please, Id like to check into them. Thank you.
I wouldn't advise bottom feeding in depressed midwestern towns unless that appeals to you.

About the only places in NM you *couldn't* make it on near MW are Santa Fe (which has MW of $11, so I guess that wouldn't be true?), Los Alamos, and maybe Taos. I live in the most expensive town in southern NM, and COL isn't bad here. If you are a waiter it's easy to make decent money (lots of tourists). Southern AZ, NM, and SW TX (particularly the high altitude parts) have the best year round climate in the country outside the S CA coast. And it's beautiful and not crowded, great if you like the outdoors.
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Old 01-01-2018, 12:45 PM
 
Location: Forests of Maine
29,741 posts, read 47,547,485 times
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Quote:
Originally Posted by ccc123 View Post
Please give a couple of examples please, Id like to check into them. Thank you.
My youngest son's in-laws live in Lincoln Maine where they rent a 2bdrm house for $400/month. I live about 40 miles from them. Many towns around here have a low COL.

This is a big part of why so many retirees migrate here.

For retirees and people living on SSDI it is a real Godsend to have regions like this beautiful forests loaded rivers and lakes and lots of moose, bear, deer etc. If you enjoy hunting, fishing, boating or sledding it is wonderful.

Young adults often hate it, because there are no high paying jobs, no 'hot' city life, and no high cost entertainment.
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Old 01-01-2018, 01:05 PM
 
1,347 posts, read 1,006,767 times
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I have no intention of moving until I retire, just curious if Movedintime would provide the actual name of a town where minimum wage workers are buying homes and thriving.
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Old 01-01-2018, 01:19 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,741,380 times
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Quote:
Originally Posted by ccc123 View Post
I have no intention of moving until I retire, just curious if Movedintime would provide the actual name of a town where minimum wage workers are buying homes and thriving.
Unfortunately citydata doesn't have a list of lowest median house values, but they do have the ratio of house value to income. I restricted it to towns with 5k+ population: http://www.city-data.com/top39.html
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Old 01-01-2018, 01:44 PM
 
11,904 posts, read 14,386,346 times
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Quote:
Originally Posted by Creature of the Wheel View Post
I don't like living with others. I prefer having my own place where my stuff isn't at the mercy of somebody else, friend or otherwise.
Then again, some people have never lived alone and don't want to start!
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Old 01-01-2018, 01:53 PM
 
Location: Forests of Maine
29,741 posts, read 47,547,485 times
Reputation: 17600
Quote:
Originally Posted by rruff View Post
Unfortunately citydata doesn't have a list of lowest median house values, but they do have the ratio of house value to income. I restricted it to towns with 5k+ population: http://www.city-data.com/top39.html
I looked over that list. To my surprise, the first city listed was Subase Bangor! I was homeported there on two different boats. I owned property nearby in Bremerton.

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