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Old 04-20-2015, 02:28 AM
 
Location: Chesapeake Bay
6,048 posts, read 3,884,435 times
Reputation: 3502

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Quote:
Originally Posted by freemkt View Post


I paid exorbitant non-resident tuition. I was academically recruited on the basis of a National Merit Commendation, but my dysfunctional family disqualified me from financial aid. My understanding at the time was that a Commendation means you would have qualified as a Semifinalist in some other state, but you did not qualify in your own state.

That's right, I could have BK'd my way out of it but it seemed shady and disreputable. Yes, I was dumb and misguided.
University tuition and other expenses were remarkably cheap in those days. Even including out-of-state added on it was. If you had student loans for everything the total cost for 4 years would have been well under $20k. And you had a job also.

You have not paid off say $5k-$10k in 37 years? BULL.
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Old 04-20-2015, 03:16 AM
 
33,046 posts, read 22,132,853 times
Reputation: 8970
Quote:
Originally Posted by Weichert View Post
University tuition and other expenses were remarkably cheap in those days. Even including out-of-state added on it was. If you had student loans for everything the total cost for 4 years would have been well under $20k. And you had a job also.

You have not paid off say $5k-$10k in 37 years? BULL.

I have paid more in interest than the principal I borrowed. I have also paid more in penalties and fees than the principal I borrowed. But there were times when I paid nothing and also times when my payments did not reduce the principal because they were consumed fully by interest and fees.

Remember, when you default, the accrued interest and fees become part of the principal, which causes the ongoing interest and fees to necessarily skyrocket.
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Old 04-20-2015, 03:18 AM
 
33,046 posts, read 22,132,853 times
Reputation: 8970
Quote:
Originally Posted by mathjak107 View Post
it all boils down to you let yourself get or remain in that position . all roads leadback to you , your choices ,reactions and actions.

I moved from a foreclosed rental, clearly I did not choose that move.
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Old 04-20-2015, 03:26 AM
 
33,046 posts, read 22,132,853 times
Reputation: 8970
Quote:
Originally Posted by mysticaltyger View Post
Seems to me you're just repeating your childhood. Did you not say that your parents were alcoholics? A person who didn't grow up with alcoholic parents would simply never move in with a drunk in the first place--no matter what. You accepted this situation because on some level it's your comfort zone.

: smack:

HowTF was I supposed to know at move-in that he was a drunk?

There was also a drunk at the previous place - the house that was foreclosed. That guy was in declining health after several surgeries and kept his bottle on the opposite side of his recliner where I never saw it. At least he was a harmless drunk and never got in anyone else's way.

Should I demand full disclosure before I move in anywhere?

When you're a poor person in a tight rental market facing a forced move, you might not have many options. As I said earlier, there was literally no other place I could have moved into.
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Old 04-20-2015, 03:34 AM
 
72,047 posts, read 72,068,214 times
Reputation: 49605
all the things you mention are not the cause but the effect of a lifetime of poor choices , lack of creativity , failure to take control of your life and make things happen and just laziness .

being broke and not having choices is the end result not the cause , the cause is the reasons i listed in your case based on what you have told us . .

Last edited by mathjak107; 04-20-2015 at 03:58 AM..
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Old 04-20-2015, 05:24 AM
 
Location: RVA
2,175 posts, read 1,275,056 times
Reputation: 4501
I understand fully how SS pays out. Thats not the point. What i meant about fairness is its not like SS doesnt already have a fairly complex rule set. You have to be married for at least one year before you qualify for death benefits. So often a retired couple (now a days) will live together, rather than remarry for many years, to protect their benefits, and savings if things dont work out Makes sense. Then they get married, if it makes sense to. So if a wife was married for the last 10 years vs he first 10, it would not be hard, at all, to figure time value compensated earned benefits. Its done all the time with QDROs and pension plans. My ex will get a frozen fixed amount of my pension from the company I worked for, based on my earnings and years of service AT THAT TIME. Which in her case is $300/mo, starting at age 60. So at 62, having avoided earned income work for most of her life, she collects $1200/mo, plus if she was smart enough, she got 1/2 of my 401k at the time, ($20k) which if she had left it alone would be a tidy sum after 25 years! And if I die before she does, why would SHE deserve a death benefit equal to DWs? That is clearly an unfair waste of SS funds. I realize that this is an almost a perfect storm scenario, and in the big picture of SS handouts will not be a major factor, but it sure frosts my shorts! Married is married, divorced is divorced. Being married 10 years is not equal to 30. But it is according to SS rules.

Remember the SS "premiums" you pay now, are to fund the LAST generations safety net. Youre "return" on collecting SS is based on what you contributed to help fund it. My EX contributed nothing and is robbing from the next generations premiums. Again, I dont think at all she deserves nothing, but 100%, when the SSA has all kinds of rules to reduce payments for everything else, sure as heck seems like loophole you can drive a truck through. Im sure there are plenty of lazy gigalos out there looking for wealthy cougars for the same reason.
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Old 04-20-2015, 06:21 AM
 
Location: Jamestown, NY
7,841 posts, read 7,352,533 times
Reputation: 13779
Quote:
Originally Posted by Petunia 100 View Post
If I were to end up like Dave, I would just make the best of it. However, I am not going to plan to end up like Dave.

I am glad Dave has a safety net to fall back on. Whether he was irresponsible or merely unlucky, I do not think he should spend his golden years without basic necessities (food, shelter, basic medical care).

I have never understood the resentment towards the poor. There is no reason to envy Dave. And if someone feels they really, really must envy him anyway, go right ahead and go broke then live off the system yourself. If it's such an awesome deal, get yours.
That's pretty much my sentiment, too. What is there in his constrained life-style to envy??? My guess is that the folks who are envious have actually never been poor.
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Old 04-20-2015, 06:25 AM
 
Location: Jamestown, NY
7,841 posts, read 7,352,533 times
Reputation: 13779
Quote:
Originally Posted by jane_sm1th73 View Post
Except...except...it does represent financial freedom. Knowing that the two biggest expenses - housing and medical - do not threaten to throw you into bankruptcy or onto the street. With those two worries removed, I could envision quite a long time where I would make an adventure of thrift shops and taking the bus!
...

Yeah, I know I don't qualify. Always instructive to daydream, though!
If you see poverty in your old age as "financial freedom" why would you worry about housing and/or medical bills bankrupting you? If one or both did, then you would have all the "financial freedom" a person could enjoy.
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Old 04-20-2015, 06:35 AM
 
Location: Los Angeles area
14,018 posts, read 17,782,140 times
Reputation: 32309
Quote:
Originally Posted by Linda_d View Post
That's pretty much my sentiment, too. What is there in his constrained life-style to envy??? My guess is that the folks who are envious have actually never been poor.
Maybe it's not envy at all, but rather resentment born of the knowledge that we are paying for our own cell phone, full rent, food, transportation, etc., etc. and then in addition we are paying for all those items for others, many of whom are on the receiving end because they have been life-long wasteful spenders and mis-managers of their money.

And yes, I am well aware of the stories of victims of life's tragedies ("there but for the grace of God go I") and I am on record in this thread as being in favor of a safety net. One can be in favor of a safety net while at the same time resenting people who abuse that same safety net.

There is a leach/moocher/game-the-system mentality which is off-putting (to use understatement).
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Old 04-20-2015, 07:01 AM
 
Location: Jamestown, NY
7,841 posts, read 7,352,533 times
Reputation: 13779
Quote:
Originally Posted by Weichert View Post
University tuition and other expenses were remarkably cheap in those days. Even including out-of-state added on it was. If you had student loans for everything the total cost for 4 years would have been well under $20k. And you had a job also.

You have not paid off say $5k-$10k in 37 years? BULL.
More like 10k total IMO. I graduated at about the same time as the erstwhile frmkt. In the 1960s and early 1970s, tuition at Cornell University, private Ivy League school, was about $2-3k a year IIRC so I decided to go to a state college and pay only $400 a year in tuition. The college catalogs for public colleges in New York contained expense budgets that were around $2500 a year, including room and board. My guess is that out of state tuition was probably < $1000 a year.
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