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Old 03-28-2014, 12:12 PM
 
Location: Portland, Oregon
46,053 posts, read 29,554,726 times
Reputation: 7830

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Quote:
Originally Posted by HappyTexan View Post
No but that min wage worker will care what the COL of an area is.
A $600/month apt or a $1200/month apt on min wage ? $2/hour more won't cut it in that high COL area.
That is true, best to pick a state with a higher minimum wage and a lower COL if looking for a minimum wage job.
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Old 03-28-2014, 12:13 PM
 
1,825 posts, read 1,213,071 times
Reputation: 539
Quote:
Originally Posted by surfman View Post
And now we've come full circle; see post 120

I agree completely that savers are being killed. The only thing I could do was stop all distributions in order to compound the tiny interest. Sad but true.

On the RE front, I have been looking at some rental property in AZ which might be a more viable solution. RE will never go to zero, just like gold. I do agree with you on that point. RE was a boon after the 2007-8 bust. It may be setting itself up for another fall though. The values have come up, but the velocity is slow and inventories are climbing again.
I think we have different ideas of what a saver is. I think if you do stuff like CDs or Federal bonds is almost always going to be the equivalent of putting your money under the mattress. When I think of a saver I tend to think of someone who saves but gets said money to work for them moreso, granted that means more risk, but no risk no reward.

I agree on real estate though to an extent. I was raised old fashioned on real estate though which is to say I like dirt and don't think the boom bust cycle matters as much if you follow a buy and hold strategy, imho the equity is secondary(and imho largely for the next generation) to the income producing nature , in fact I would sometimes welcome price drops because it makes buying easy and saves on tax assessment.
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Old 03-28-2014, 12:13 PM
 
Location: South Bay
1,404 posts, read 868,615 times
Reputation: 525
Quote:
Originally Posted by HappyTexan View Post
No but that min wage worker will care what the COL of an area is.
A $600/month apt or a $1200/month apt on min wage ? $2/hour more won't cut it in that high COL area.
I couldn't imagine living on minimum wage on either coast. I doubt that would even over rent for a 300 sq ft apt. in NYC.
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Old 03-28-2014, 12:16 PM
 
Location: South Bay
1,404 posts, read 868,615 times
Reputation: 525
Quote:
Originally Posted by Egbert View Post
I think we have different ideas of what a saver is. I think if you do stuff like CDs or Federal bonds is almost always going to be the equivalent of putting your money under the mattress. When I think of a saver I tend to think of someone who saves but gets said money to work for them.

I agree on real estate though to an extent. I was raised old fashioned on real estate though which is to say I like dirt and don't think the boom bust cycle matters as much if you follow a buy and hold strategy, imho the equity is secondary to the income producing nature, in fact I would sometimes welcome price drops because it makes buying easy and saves on tax assessment.
Agreed... see we aren't really that far apart. As far as the annuity, it was paying 3x what a 5 year CD was 2 years ago. So if a CD was stuffing a mattress, my annuity was a part time worker.

Cheers
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Old 03-28-2014, 12:19 PM
 
Location: Great State of Texas
86,093 posts, read 72,563,848 times
Reputation: 27566
Quote:
Originally Posted by surfman View Post
I couldn't imagine living on minimum wage on either coast. I doubt that would even over rent for a 300 sq ft apt. in NYC.
College towns, not near the big east/west coast cities have low COL and are manageable.

College Station Tx for example has a COL of 61.
My son has a one bedroom with free cable/internet in a complex with work out room and pool for $600/month.
He just renewed his lease and rent did not go up.

College towns are now becoming hot retirement places as well. Both seniors and college students don't have lots of spare cash or prospects of increased wages (for college students while they are still in school).

CT is a high COL state with a high median income so this raise in min wage will do nothing really.
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Old 03-28-2014, 12:23 PM
 
Location: Portland, OR
8,803 posts, read 7,588,026 times
Reputation: 4501
Quote:
Originally Posted by urbanlife78 View Post
No, I got your little joke as to say there are only two businesses in Oregon and Washington, I just didn't think it was funny.
Took you a while, and I was only talking about Oregon
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Old 03-28-2014, 12:27 PM
 
Location: Portland, Oregon
46,053 posts, read 29,554,726 times
Reputation: 7830
Quote:
Originally Posted by VTHokieFan View Post
Took you a while, and I was only talking about Oregon
Took me a while? I got your joke when I first read it, then I thought it wasn't funny, and then I ignored it. Oregon has more than a couple businesses, I am sure you work at one of the many businesses in Oregon.
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Old 03-28-2014, 01:42 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,364 posts, read 14,065,996 times
Reputation: 6524
Quote:
Originally Posted by urbanlife78 View Post
A 25 cent raise? That is quite the junky raise you are getting. And yes, your description is called normal fluctuations of employment.
a junky raise??

if you are earning $14 dollars an hour a 2% raise is a quarter (28 cents t be exact)

meanwhile you guys keep spouting that inflation is nearly flat
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Old 03-28-2014, 01:47 PM
 
Location: Portland, Oregon
46,053 posts, read 29,554,726 times
Reputation: 7830
Quote:
Originally Posted by workingclasshero View Post
a junky raise??

if you are earning $14 dollars an hour a 2% raise is a quarter (28 cents t be exact)

meanwhile you guys keep spouting that inflation is nearly flat
Yes, that is considered a junky raise. What does a junky raise have to do with inflation?
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Old 03-28-2014, 01:49 PM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,364 posts, read 14,065,996 times
Reputation: 6524
Quote:
Originally Posted by urbanlife78 View Post
Yes, that is considered a junky raise. What does a junky raise have to do with inflation?
but meanwhile you liberals are joyous when the military soldiers only gets a 1% raise

hypocrite
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