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Old 11-10-2018, 08:58 AM
 
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Quote:
Originally Posted by Lowexpectations View Post
You neighbor told you so itís facts? Seems legit. Fact is you donít know how he does it but it certainly doesnít make sense that SSDI is how he does it. So is the truth you exaggerated a bit? Thatís more likely given the details you posted
No, he told me exactly how he does it.

Why don't you add something relevant and interesting to the topic of this thread rather than dissing other people's posts?
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Old 11-10-2018, 09:06 AM
 
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Quote:
Originally Posted by Teak View Post
No, he told me exactly how he does it.

Why don't you add something relevant and interesting to the topic of this thread rather than dissing other people's posts?
I don’t believe it because it simple doesn’t make sense. You can not buy a new 70k truck every single year with ssdi being your only source of doing so or adding in some other low wage gf. I don’t care what you say that your neighbor says. Within one or two flips youd be financing six figures. It doesn’t add up

If I posted my neiighbor saved 1mm living on SSDI over 15 years I’m sure you’d believe it too right? I mean it’s only a matter of saving 2k a month earning 12% for 15 years
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Old 11-10-2018, 09:10 AM
 
Location: SW Missouri
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Well, I listen to Dave Ramsey on the radio and, it seems like most of his callers make a fortune. I keep asking myself "What do people do for a living to make so much money?"

If each worker makes $25,000 then a family of two will pull in $50,000 which isn't bad as long as you don't live beyond your means.

A few years ago my husband and I were living on a very low income. But we did not live an extravagent lifestyle. Since then we have started making more and so we now enjoy little luxuries like wifi and a better vehicle (purchased used, of course).

Most people tend to think that if they don't have a nice house and new cars and go on a vacation every year they are deprived. So they go into debt up to their chin and can't make their payments. Or they have an emergency and have no money to pay for it.

If my husband and I made $500 a week each I'd be doing backflips. But our lifestyle is modest. You've got to live within your means.
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Old 11-10-2018, 09:13 AM
 
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Getting back to the OP's claim that 50% of Americans make $30k or under: it is hard to evaluate why that statistic is of such concern without further qualification.

For the state in which I reside, the median household income is $58k. If one assumes two working people in an average household, that means that those two on average are each making less than $30k. However, that household income is certainly sufficient for a decent life if that couple do not live in a high-cost area. Of course, workers in the high-cost areas typically make much more than the median.

Other than one major metroplex, most cities in this state have housing in the $60k-$200k range which is certainly affordable on $58k of household income. I suspect a lot of the angst from posters regarding the economy and housing are from those who live, or want to live, in the trendy, expensive areas.

Move, I say.
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Old 11-10-2018, 09:16 AM
 
17,783 posts, read 12,462,980 times
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Quote:
Originally Posted by Teak View Post
Getting back to the OP's claim that 50% of Americans make $30k or under: it is hard to evaluate why that statistic is of such concern without further qualification.

For the state in which I reside, the median household income is $58k. If one assumes two working people in an average household, that means that those two are each making less than $30k. However, that household income is certainly sufficient for a decent life if that couple do not live in a high-cost area. Of course, workers in the high-cost areas typically make much more than the median.
You canít assume HH means two earners. Iím not sure if your state keeps track but I believe for the US the BLS keeps track of HH income, 2 earner HH income and 3+
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Old 11-10-2018, 09:29 AM
 
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Quote:
Originally Posted by Lowexpectations View Post
You canít assume HH means two earners. Iím not sure if your state keeps track but I believe for the US the BLS keeps track of HH income, 2 earner HH income and 3+
U.S. Census Bureau defines it as the sum of income from everyone in the house over the age of 15.

Most 18+ move out to college or into their own digs; thus, we are talking about high school students ages 16, 17, and 18, who do not make that much working parttime jobs; thus, household income is really for two working adults.

For the roughly 1/3 of young adults who still live at home, I doubt that they contribute their income equally with their parent's income into covering household expenses. Maybe some pay a bit in rent and such, but many young adults live at home in order to save money for a house down payment.
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Old 11-10-2018, 09:34 AM
 
17,783 posts, read 12,462,980 times
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Quote:
Originally Posted by Teak View Post
U.S. Census Bureau defines it as the sum of income from everyone in the house over the age of 15.

Most 18+ move out to college or into their own digs; thus, we are talking about high school students ages 16, 17, and 18, who do not make that much working parttime jobs; thus, household income is really for two working adults.

For the roughly 1/3 of young adults who still live at home, I doubt that they contribute their income equally with their parent's income into covering household expenses. Maybe some pay a bit in rent and such, but many young adults live at home in order to save money for a house down payment.

I’m aware of how HH income is defined. By the numbers if median HH income is 60k across the board, one earner HH median would be less, 2 earners would be higher and then it may continue upward for 3+. It may be the census that keeps the detailed data by number of earners now that you mention it. I think the last time I looked at it median was in the 50s and 2 earner hh median were in the mid 60s
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Old 11-10-2018, 09:40 AM
 
11,774 posts, read 6,098,356 times
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Quote:
Originally Posted by 20yrsinBranson View Post
Well, I listen to Dave Ramsey on the radio and, it seems like most of his callers make a fortune. I keep asking myself "What do people do for a living to make so much money?"

They typically had the good fortune to be born intelligent, healthy, and with good parents who made sure they were educated. A good school, a 'hard' major where you need critical thought, good grades, and you get hired into a career track that pays well. You probably move to a high cost of living place where those jobs are clustered.


There are other paths to high income but that's the most likely one.
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Old 11-10-2018, 09:41 AM
 
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I did not read all of the previous posts, so this may have been noted earlier, but assuming the original stats are accurate, I would think they are not exclusively true for the same people over time. In other words, when you start out working, you don’t have much experience, education, human capital, etc, and accordingly make less money than you will as you pick up skills, experience, etc over time. So hopefully it’s not the same people that comprise the 50% figure over the course of their lives....eventually they move into a higher income level.
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Old 11-10-2018, 09:55 AM
 
Location: SW Missouri
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Quote:
Originally Posted by GeoffD View Post
They typically had the good fortune to be born intelligent, healthy, and with good parents who made sure they were educated. A good school, a 'hard' major where you need critical thought, good grades, and you get hired into a career track that pays well. You probably move to a high cost of living place where those jobs are clustered.


There are other paths to high income but that's the most likely one.
And willingness to "play the game", as it were. Something I've never been willing to do. Even though I have a great education, am reasonably intelligent and very healthy.
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