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Anyone in the USA can be a millionaire of they have the ambition, and work effort it takes to succeed.
This is simply not true. The widow of a rural West Virginia coal miner who has 3 kids is simply not in the position to be a millionaire. And that is one of a million examples.
It's time people realize the problem is not Starbucks or irresponsible spending in many (most?) situations. You may have a great job but the fact is not everyone has that opportunity.
Last edited by DaveinMtAiry; 05-19-2018 at 05:15 AM..
This is simply not true. The widow of a rural West Virginia coal miner who has 3 kids is simply not in the position to be a millionaire. And that is one of a million examples.
It's time people realize the problem is not Starbucks or irresponsible spending in many (most?) situations. You may have a great job but the fact is not everyone has that opportunity.
You are right. If she made the choice to have kids, rather than be wealthy, she may never be.
Life is about choices. If you deliberately make bad choices, you may always be broke.
I do not feel sorry for her, or any one in that situation. I do feel sorry for me, as I have to pay for them.
Except that those same people are eating and renting.
SUbsidized, going into debt, living wit other families, living in run downs slums, etc. They compare what people can afford to what eating a healthy diet and living in a single family apartment that isn't in a slum.
Some people are okay with treating half of the population that way; I get that. I am not. I cannot fix it by just giving away my earnings; the system needs fixing.
It amazes me how little a lot of people earn. I make a little over $60,000 annually. After taxes, insurance, and a 12% retirement contribution, I net a little over $3,000/month. Honestly, it does not seem to go that far.
The mortgage is ~$550/month. Power is around $100. Internet and cable are close to that. Water and sewer is in the $60-$80 range. The car payment is about $300/month. The gym is $40/month. The cell phone is about $60/month. Car insurance is about $60/month. There is always something to be paid. That's not counting the steady drumbeat of stuff that breaks, maintenance on things, medical expenses, etc. I'm by no means stretched but I don't have the extra a lot of locals think $30/hr brings. I have some fans and other parts on my computer that are physically wearing out. I'm just replacing the failing components, not building a new machine. I don't have the extra $1,500 or so for the computer I want to build right now without it going on the cards.
I was talking with one of my coworkers this week that we don't understand how the people at the median income in this manage. Keep in mind median household income here in Kingsport is in the mid $30k range. Half are below that. By household income, I'm top 25%. By single wage earners, I'm probably top 10%-15%. I have friends who are probably below the median and their lives are constant struggle. Some of the Facebook posts I see are downright horrifying. They can't keep the beater car running. It's hard to pay the rent. A lot are on SNAP and WIC. Most have at least one kid, some several. I don't see how they make it.
SUbsidized, going into debt, living wit other families, living in run downs slums, etc. They compare what people can afford to what eating a healthy diet and living in a single family apartment that isn't in a slum.
Some people are okay with treating half of the population that way; I get that. I am not. I cannot fix it by just giving away my earnings; the system needs fixing.
one thing i notice here is we have those who have their own plans running on mis-information and myth yet instead of improving their own plans and spending their time in more positive learning threads and forums , they end up in every how bad everyone is doing kind of thread learning little to help themselves and wasting their time on things they can't control that do little to help themselves have a better structure . . they are so busy poking their noses in to what others supposedly have or don't have their own plan is suffering . .
It amazes me how little a lot of people earn. I make a little over $60,000 annually. After taxes, insurance, and a 12% retirement contribution, I net a little over $3,000/month. Honestly, it does not seem to go that far.
The mortgage is ~$550/month. Power is around $100. Internet and cable are close to that. Water and sewer is in the $60-$80 range. The car payment is about $300/month. The gym is $40/month. The cell phone is about $60/month. Car insurance is about $60/month. There is always something to be paid. That's not counting the steady drumbeat of stuff that breaks, maintenance on things, medical expenses, etc. I'm by no means stretched but I don't have the extra a lot of locals think $30/hr brings. I have some fans and other parts on my computer that are physically wearing out. I'm just replacing the failing components, not building a new machine. I don't have the extra $1,500 or so for the computer I want to build right now without it going on the cards.
$60000 is huge money to some folks. Don't ever think of retiring until mortgage is paid off. Buy clean used car for cash, no cell phone, no gym, eat out once in 3 months. Car insurance depends on where you live and who drives the car. Kids are grown and gone makes a difference. Just wish they hadn't gone so far away.
We retired with a mortgage. We still owe about $80K. The mortgage is about $600/month. We can certainly afford that on my pension and SS. One of the nice thing about it is we get a good tax break for the Mortgage.
We borrowed the money from my wife's folks at a 5% interest rate that has stayed the same for years.
Yes, interest rates go up and down. Ours doesn't.
How many folks have Thanksgiving dinner with their mortgage broker?
Not too many, I suspect.
This works for us, but in general I wouldn't recommend it.
The saying goes, never do business with family members, but there are the exceptions.
You are right. If she made the choice to have kids, rather than be wealthy, she may never be.
Life is about choices. If you deliberately make bad choices, you may always be broke.
I do not feel sorry for her, or any one in that situation. I do feel sorry for me, as I have to pay for them.
Um, having the kids was not the main point of my post. Forget the kids, a childless coal miner's widow who lives in a rural WV town and grew up attending crappy schools simply does not have the opportunity to become a millionaire. She never had that chance even before deciding to marry a coal miner. it would take an extraordinary set of circumstances for that to occur. Sure some may be able to overcome this but to claim that anyone can do it with hard work is complete nonsense.
Stop being so judgmental of those less fortunate or born into situations that simply will not allow for a better way of life very often.
Last edited by DaveinMtAiry; 05-19-2018 at 07:14 AM..
As a lifelong single, I can attest that this is true. I make good money but my savings would be doubled if I had someone paying half the bills.
I would advise young people to get married even if just for the financial benefits.
Those quoted posts are not correct.
Yes, there are some economies of scale but two people will have a food budget that is double that of a single person, clothing will be double, transportation will be double, entertainment will be double, insurance will be higher and maybe more than double, housing will be incrementally higher as two people require more space. Some/Many/All(?) health insurance plans hit the Two Person Policy holders hard in regard to premiums so as to give a price break to families.
Retirement Savings will need to be higher also as all of the above doubled costs will still be doubled in retirement, so career retirement deductions will need to be double for two people.
taxes can be higher too . get one in the 15% bracket and one in the 25% and now both are 25%. there is no comparison to what i would spend as a single on clothes , hair , make up and nails vs my wife.
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