U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old Yesterday, 12:31 AM
 
178 posts, read 17,468 times
Reputation: 177

Advertisements

Quote:
Originally Posted by Gemdiver View Post
6 pages and OP is nowhere to be found. Guess he doesn't care and its not really important for him to escape the cycle.
That's okay! I enjoyed reading this whole thread. What an interesting forum!
Reply With Quote Quick reply to this message

 
Old Yesterday, 12:46 AM
 
Location: Moku Nui, Hawaii
9,993 posts, read 19,339,153 times
Reputation: 9076
Quote:
Originally Posted by Parnassia View Post
Great advice. Risk your savings giving out some unsecured loan! Why would someone pay you 6% when they can get traditional mortgage financing for 3-4%? If they can't qualify for a 4% mortgage there's probably a reason! You don't want them borrowing anything you might want back.

It's secured by the property, just like a bank loan. There's lots of properties out there that banks won't loan on for one reason or another. We live on a street with no name so a bank won't loan on the properties since they don't have a proper address. We have a private lender and the note will be paid off in 2024. We've bought two houses with private lenders and I'm much happier giving the interest to a friend instead of a bank.
Reply With Quote Quick reply to this message
 
Old Yesterday, 07:53 AM
 
6,537 posts, read 1,727,045 times
Reputation: 5355
Quote:
Originally Posted by supertrucker212 View Post
I'm a 40 year old single parent, with only a high school diploma and my occupation is a truck driver for a local construction company. I'm just burned out from going to a job and working for someone else everyday. I want my money to make money so I can work when I want. Travel when I want, around my son's school schedule of course lol. I have been driving truck for 15 years it's the only skill I really have. I've been reading a lot that freelancing your skills is becoming the new thing to do, but it's a hard to freelance being a truck driver. I just want to change course and earn more $$$ and have more freedom but in my situation is it even possible. I have a 401 with around 25k if it matters. Thanks in advance
Maybe not. You made choices in life that put you where you are. Maybe not the best choices. And based on the above highlighted, you probably are going to make more bad choices in the future.

So to all the people who insist that poor people aren't there because of bad choices, here's an example of it. If you are a woman, the decision to marry (who you marry), divorce, be a single parent has even more devastating consequences financially.
Reply With Quote Quick reply to this message
 
Old Yesterday, 11:09 AM
 
Location: Coastal New Jersey
58,901 posts, read 56,660,289 times
Reputation: 70285
Quote:
Originally Posted by Grlzrl View Post
Maybe not. You made choices in life that put you where you are. Maybe not the best choices. And based on the above highlighted, you probably are going to make more bad choices in the future.

So to all the people who insist that poor people aren't there because of bad choices, here's an example of it. If you are a woman, the decision to marry (who you marry), divorce, be a single parent has even more devastating consequences financially.
This is true. My financial life was destroyed because of who I married. Just to give you an overview, I met him in 1983. I got out of debt for the first time since then LAST YEAR--2018. (Not counting my mortgage, which I still have, but I was unable to ever buy a home of my own until I was 52 years old. My 30-year mortgage will be paid off in 20 years or fewer.) It just snowballs when you are in debt and yet responsible as a single parent for the raising of a child. Those last debts were college loans.

Of course, it's obvious what I would tell my younger self or any young woman now who is in the position I was. The desire to marry and have children like everyone else can be strong enough that one makes bad decisions. Would it have been better financially to have just accepted being single and childless for the rest of my life? Of course, from the perspective of a 61-year-old. That's an easy thing to tell a young woman who has those dreams, but it's not an easy thing for a young woman to hear, or accept, and chances are there are many out there who are in that place I once was, full of hope and thinking that love and determination can conquer the inevitable and closing one's eyes to the red flags.

I was lucky. Because I had no college degree to give me other options and because I had to be the financial support and so quitting my job was not an option, I stuck it out with the public-sector employer in which I started as a secretary, and I was eventually able to move up in the ranks to a better salary and eventually, a livable pension. Unfortunately, the opportunity to walk the path I did no longer exists. There are no secretarial positions to get a foot in the door without a degree or places that allow people to move up the ladder based on experience without that piece of paper.
__________________
Moderator posts are in RED.
City-Data Terms of Service: http://www.city-data.com/terms.html
Reply With Quote Quick reply to this message
 
Old Yesterday, 01:47 PM
 
Location: Kirkland, WA (Metro Seattle)
4,281 posts, read 3,457,881 times
Reputation: 7891
Quote:
Originally Posted by supertrucker212 View Post
I'm a 40 year old single parent, with only a high school diploma and my occupation is a truck driver for a local construction company. I'm just burned out from going to a job and working for someone else everyday. I want my money to make money so I can work when I want. Travel when I want, around my son's school schedule of course lol. I have been driving truck for 15 years it's the only skill I really have. I've been reading a lot that freelancing your skills is becoming the new thing to do, but it's a hard to freelance being a truck driver. I just want to change course and earn more $$$ and have more freedom but in my situation is it even possible. I have a 401 with around 25k if it matters. Thanks in advance
Haven't read other ten pages of replies, not sure if I have a fresh view. Well-written ask, though, and a typical problem today "I assume." I'm professional, top couple percentile income, so don't really relate, and that's a problem I've come to realize. "Bootstrap" is easy to say, hard to do, and that's theme of this thread I'm sure.

See, in my day, my dad had no time for his only son as Blue Collar or trades. My mom was an intellectual, two degrees at a time when very few women were (1950s) so definitely an achiever. My dad earned his bachelor's, then Master's, at night school which was very difficult for a family man in the 1970s. Paid off, though. He "insisted" I not do-same, though damned if I didn't for my Master's and he was right: the older you are, harder it is.

What's change: is a degree a path up anymore? Can you find an answer to that question....

If yes, the longest journey starts with small steps and frankly I'd try there. Ten years from now, you may have enough experience and ability to have started small and rebuilt yourself.

If no, it may be a function of being entrepreneurial. The only of my Uncle Bill's 10 kids to not attend college made the most money, as an industrious carpet cleaning businessmen person. He was a wild one, a risk taker. Only with his personality and cheap immigrant labor (Boston, 1970s-80s) could he pull that off.

There are niches waiting to be filled, my town has several and I'm astonished no one has leapt in to fill them. I hear from tradesman then cannot find enough skilled labor, and one plumber was pleased to have an apprentice (not too bright, but obviously a worker and about 19. He'll do fine I'm sure when he wises up, with a trade for life that pays okay and is always in demand).

Every fiber of my being says truck driving is on the way out, but they're always hiring more. Depends if AI develops well enough next ten years; there are some big gaps and will be more fiery wrecks before it's "good enough" but about six months after that, big changes will start once the lawyers are done feeding. I could be wrong, but if I'm not...truck driving will be a slowly-sun setting occupation. God knows what you poor people will do then.

I've looked at the numbers, it's no way to make money these days either. Whatever.

Good luck with some of the ideas in this thread.
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:19 PM
 
Location: Florida
2,435 posts, read 1,047,219 times
Reputation: 6854
Yes, it is possible but it requires an extreme amount of financial discipline on your part. You must eliminate all unnecessary spending and live on a tight budget, meaning you must live within your men’s by spending less than you make and saving every dollar you can. Do that long enough and the tide will turn in your favor.

If you have marketable skills that would enable you to bring in more income you will speed up the process of being financially independent. It all depends on how bad you want it OP. Anything is attainable if you want it bad enough to make the necessary sacrifices.
Reply With Quote Quick reply to this message
 
Old Today, 05:37 AM
 
Location: Outside US
1,684 posts, read 678,769 times
Reputation: 2270
Escape paycheck to paycheck?

AKA, paycheck to paycheck, payment to payment.

Not in the US for the vast majority.

The US system is designed for Americans to never get comfortable and live in the edge - paycheck to paycheck.
Reply With Quote Quick reply to this message
 
Old Today, 08:37 PM
 
11,841 posts, read 7,294,893 times
Reputation: 6585
Quote:
Originally Posted by Ron61 View Post
Yes, it is possible but it requires an extreme amount of financial discipline on your part. You must eliminate all unnecessary spending and live on a tight budget, meaning you must live within your men’s by spending less than you make and saving every dollar you can. Do that long enough and the tide will turn in your favor.

If you have marketable skills that would enable you to bring in more income you will speed up the process of being financially independent. It all depends on how bad you want it OP. Anything is attainable if you want it bad enough to make the necessary sacrifices.
This. Don’t be afraid to live rough until you’re at least 40...then think about shiny stuff. Perhaps the hardest years to that though.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top