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A young guy on Facebook unfriended me because I was rude enough to point out that everyone starts out broke. It was up to him to come up with a down payment to buy a house, and his first house would not be featured in Home And Garden. Two years later I ran into him, and he apologized for being such a jerk. He had just bought the rental he had been living in, and came to the conclusion I was giving him sound advice. The world was not colluding to keep him poor, it was on him.
A young guy on Facebook unfriended me because I was rude enough to point out that everyone starts out broke. It was up to him to come up with a down payment to buy a house, and his first house would not be featured in Home And Garden. Two years later I ran into him, and he apologized for being such a jerk. He had just bought the rental he had been living in, and came to the conclusion I was giving him sound advice. The world was not colluding to keep him poor, it was on him.
It's not uncommon to see people buy their first home with help from family, a non-profit, or even government,
I knew someone who was on welfare (AFDC) in 1980 when she bought her grandmother's house for $15,000, nothing down, and monthly payments lower than rent
I knew someone who bought his first home with student loan funds serving as his down payment. He covered the mortgage payments with rental income from renting rooms to other students.
My high school girlfriend came into a $1 million windfall on her 18th birthday. Fist thing she did was buy a house on the Jersey Shore, three blocks from the water - and sock away the remainder. Last I looked her home was worth more than $1 million. (The house was undoubtedly clobbered by Hurricane Sandy, but it had NOTHING going for it other than location, so I don't think reconstruction would have cost a fortune.
It's not uncommon to see people buy their first home with help from family, a non-profit, or even government,
I knew someone who was on welfare (AFDC) in 1980 when she bought her grandmother's house for $15,000, nothing down, and monthly payments lower than rent
I knew someone who bought his first home with student loan funds serving as his down payment. He covered the mortgage payments with rental income from renting rooms to other students.
My high school girlfriend came into a $1 million windfall on her 18th birthday. Fist thing she did was buy a house on the Jersey Shore, three blocks from the water - and sock away the remainder. Last I looked her home was worth more than $1 million. (The house was undoubtedly clobbered by Hurricane Sandy, but it had NOTHING going for it other than location, so I don't think reconstruction would have cost a fortune.
'Cause everyone who owns a home did it because of parental assistance except for poor fremkt.
Some people's lives aren't as economically advantageous as other people. Life. Sh*t happens to some people and not to others. I've used enough Charmin for a lifetime, and my financial situation reflects that. I wish people with money would stop shoving that fact into the faces of people who don't.
I moved out of my parents house at 16. I have only a high school diploma. I was in a life altering auto accident at 18 with permanent injuries. I became a single parent in my mid 20's. I was divorced at 30 (Lawyer bill was $30k for each of us). Went through the equivalent of a second divorce at 35 (another $15k)...
Somehow I have still managed to accumulate enough money that I live comfortably in one of the most expensive states.
It is not what you make but how you spend what you have.
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,937 posts, read 36,951,955 times
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Quote:
Originally Posted by k374
Even if someone invested $1000 monthly in the DJIA since 2008 they would have $165,000 right now!!! How hard is it to save $1000 a month for a professional with a college degree?
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Very very hard.
Quote:
Originally Posted by LowonLuck
I moved out of my parents house at 16. I have only a high school diploma. I was in a life altering auto accident at 18 with permanent injuries. I became a single parent in my mid 20's. I was divorced at 30 (Lawyer bill was $30k for each of us). Went through the equivalent of a second divorce at 35 (another $15k)...
Somehow I have still managed to accumulate enough money that I live comfortably in one of the most expensive states.
It is not what you make but how you spend what you have.
You were on food stamps and government subsidized insurance last year.
You were on food stamps and government subsidized insurance last year.
Food stamps about 4 years ago. I still get insurance because I qualify based on income.
The fact is that I was able to buy a house, build equity and have saved adequately for emergencies and future retirement, even with having a low income. Being poor does not have to be an excuse.
Thank you guys and gals! This has been one of the most entertaining threads of all time thanks to FreeMkt.
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How hard is it to save $1000 a month for a professional with a college degree?
