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Old 01-21-2018, 09:46 AM
 
Location: The Triad (NC)
26,840 posts, read 57,851,863 times
Reputation: 29235

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Quote:
Originally Posted by Teak View Post
And finally, really cut down on illegal immigration. .
Like Reagan was supposed to have done in the 80's the last time we had an amnesty?

The dirty secret in all this, especially among the indignant right, are the employers.
Have CRIMINAL level charges for employers who hire non-visa workers...
with the onus entirely on them to ferret out the applicants and the problem is solved.

But despite all the talk of walls and all the rest? They really don't want to solve the problem.
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Old 01-21-2018, 10:57 AM
 
Location: Aurora Denveralis
2,980 posts, read 1,017,500 times
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Quote:
Originally Posted by Teak View Post
And finally, really cut down on illegal immigration.
So sorry to hear you're still getting edged out for those dishwashing, fruit picking and laundry jobs. Us white guys just can't get a break.
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Old 01-21-2018, 12:13 PM
 
11,427 posts, read 19,438,504 times
Reputation: 18124
Quote:
Originally Posted by freemkt View Post
In your opinion, is there any 'minimum' income required before an individual 'should' be saving and investing? I doubt anyone would seriously contend that homeless Americans have income capacity to invest. My readings suggest that Dr Thomas Stanley - co-author of The Millionaire Next Door - didn't expect individuals to invest at annual incomes below about $40K.

How about minimum wage earners? Do they have discretionary income to invest? Does it depend on their local COL?
No. Everyone should develop the ability to set aside a small portion of their income. It was what I was taught at a young age by my parents, it was something they lived, and when I married, it was something I married into.

My allowance was given to me and I had to divvy it up into lunches at school, Christmas money and spending/savings. I had a wallet and 2.50 went into my lunch section. I had a Christmas box. And the half of what was left went into another box for saving, the rest went into another section of my wallet.

My sisters also got allowances and had their own savings boxes/ banks. We respected each otherís monies. In fact, they got much more money, as they got clothing allowances and had to save for winter coats and school
clothes.

When I started working at the bank, I got to learn about general ledger accounts. All the income a bank or business makes is divvied up into GL accounts. So if they generate 100k in a month, part of goes to the GL for salaries, part of it goes into the GL for utilities and so on.

My massage therapist has a very meager income. She makes less than a burger flipper, and has to pay Bay Area rents. She manages to put away money for spa trips to Calistoga. She goes to Hawaii every few years, and buys fabric and notions to upcycle thrift store fashions and tailors her daughters clothing. They eat well.

And she does it by divvying up her money. I pay her 75 bucks to shove that sharp elbow into various places on my body twice a month and she takes that money and part of it goes here and there and over there.

So what Iím saying is, people who are successful with money use some sort of envelope system. And thatís people of all incomes.
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Old 01-21-2018, 12:18 PM
 
33,046 posts, read 20,714,185 times
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Quote:
Originally Posted by Tallysmom View Post
No. Everyone should develop the ability to set aside a small portion of their income. It was what I was taught at a young age by my parents, it was something they lived, and when I married, it was something I married into.

My allowance was given to me and I had to divvy it up into lunches at school, Christmas money and spending/savings. I had a wallet and 2.50 went into my lunch section. I had a Christmas box. And the half of what was left went into another box for saving, the rest went into another section of my wallet.

My sisters also got allowances and had their own savings boxes/ banks. We respected each otherís monies. In fact, they got much more money, as they got clothing allowances and had to save for winter coats and school
clothes.

When I started working at the bank, I got to learn about general ledger accounts. All the income a bank or business makes is divvied up into GL accounts. So if they generate 100k in a month, part of goes to the GL for salaries, part of it goes into the GL for utilities and so on.

My massage therapist has a very meager income. She makes less than a burger flipper, and has to pay Bay Area rents. She manages to put away money for spa trips to Calistoga. She goes to Hawaii every few years, and buys fabric and notions to upcycle thrift store fashions and tailors her daughters clothing. They eat well.

And she does it by divvying up her money. I pay her 75 bucks to shove that sharp elbow into various places on my body twice a month and she takes that money and part of it goes here and there and over there.

So what Iím saying is, people who are successful with money use some sort of envelope system. And thatís people of all incomes.

Earns less than a burger flipper + has to pay /bay Area rents = This Does Not Compute
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Old 01-21-2018, 12:31 PM
 
Location: Aurora Denveralis
2,980 posts, read 1,017,500 times
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Quote:
Originally Posted by Tallysmom View Post
No. Everyone should develop the ability to set aside a small portion of their income.
[...]
So what I’m saying is, people who are successful with money use some sort of envelope system. And that’s people of all incomes.
I would completely agree with both statements. But you are sort of waving a pork chop (or Big Mac) at a tier of workers and households who have to choose between rent, heat, food and saving even a few dollars.

Not that pretty much all tiers don't have questionable spending. Someone texting that their hungry family is shivering in the dark from a current-model iPhone is not going to get 100% sympathy from me. Ditto for anyone stuck home, broke, eating rice and beans while watching their 60" TV.
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Old 01-21-2018, 12:58 PM
 
33,046 posts, read 20,714,185 times
Reputation: 8928
Quote:
Originally Posted by CGab View Post
Exactly!! Op, do you understand the meaning of ďnet worthĒ? It doesnít just include ones salary, but ALL their assets (house, cars, accounts, investments, etc). I would presume everyone knows someone with at least )300k not worth! Itís actually not that much for someone over the age of 30 to obtain! Real estate builds wealth quickly!


One-third of Americans own no real estate and have very little wealth (median ~$5,000).

Obviously wealth is difficult for these people to obtain.
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Old 01-21-2018, 01:07 PM
 
33,046 posts, read 20,714,185 times
Reputation: 8928
Quote:
Originally Posted by mathjak107 View Post
there you go with the questions again.

how about this ? instead of posting the questions why not really think things over and COME UP WITH the answers .

no one is going to give the poor or low income people magical answers and abilities to not be poor or low income .

for all purpose the questions you keep asking DO NOT APPLY TO THEM IN ANY OF THESE DISCUSSIONS .

Thank you, Mr President.
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Old 01-21-2018, 01:28 PM
 
Location: Saint John, IN
10,638 posts, read 3,314,105 times
Reputation: 12748
Quote:
Originally Posted by freemkt View Post
One-third of Americans own no real estate and have very little wealth (median ~$5,000).

Obviously wealth is difficult for these people to obtain.
Actually, 63% of Americans own Real Estate. Here's a link to facts:


https://www.financialsamurai.com/wha...r-real-estate/




The following shows the average net worth of Americans by age:


http://www.businessinsider.com/heres...ery-age-2017-6

Last edited by CGab; 01-21-2018 at 01:36 PM..
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Old 01-21-2018, 01:30 PM
 
2,240 posts, read 1,386,969 times
Reputation: 4894
Quote:
Originally Posted by CGab View Post
63% of Americans own Real Estate so not sure where you pulled your figures from. This link also shows differently for overall wealth.


https://www.financialsamurai.com/wha...r-real-estate/
He said one third of American donít own real estate, and then you posted saying that two thirds do.


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Old 01-21-2018, 01:36 PM
 
9,041 posts, read 2,715,167 times
Reputation: 6620
Quote:
Originally Posted by Mircea View Post
Why would you include babies and teenagers who don't actually participate?

Maybe you don't understand that Wealth isn't necessarily liquid.

You appear to have missed the point Mircea.
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