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.
ha, take home on minimum wage is $6 an hour, so per month it's well under $1000. It will still let you draw food stamps, as long as you don't get any overtime. $10 an hour is a LOT better'n $7.25 an hour. Especially if you know enough to claim 4 dependents (and you're alone). $15 an hour is not really adequate, however, even by yourself. $20 an hour BARELY is.
YOu can do much better, if you'll look around. Start by marrying a Filipina who has a REAL nursing degree and is currently employed. She can and will give you 35k per year over the next 6 years, but you'll have to provide for her expenses out of that. Still, it's enough to get you well started on old houses that can be divided up into cheap rooms and rented out by the week. It will cost you about 5k to get her here. You can get 14k from the Dept of Education, by getting "c" grades in 2 3 hour per week classes, for 4 months. (all in one semester). So you can go get her, and you can do the rest of what I suggest, too. If you're not a veteran, get to know one ( who has not yet used up his once in a lifetime home loan) and preferably is single, with no kids. That Vet loan is the key to starting this system with minimal money. He also does not have to pay any closing costs on that loan. He has to show "income" but that can be worked out between you, since he's going to be living in and managing the house for you. :-)
YOu can do much better, if you'll look around. Start by marrying a Filipina who has a REAL nursing degree and is currently employed. She can and will give you 35k per year over the next 6 years, but you'll have to provide for her expenses out of that. Still, it's enough to get you well started on old houses that can be divided up into cheap rooms and rented out by the week. It will cost you about 5k to get her here. You can get 14k from the Dept of Education, by getting "c" grades in 2 3 hour per week classes, for 4 months. (all in one semester). So you can go get her, and you can do the rest of what I suggest, too. If you're not a veteran, get to know one ( who has not yet used up his once in a lifetime home loan) and preferably is single, with no kids. That Vet loan is the key to starting this system with minimal money. He also does not have to pay any closing costs on that loan. He has to show "income" but that can be worked out between you, since he's going to be living in and managing the house for you. :-)
What's up with this thing you have for "filipina" women?
Take that $1k you have saved and stick it into an IRA. With each paycheck, put a specified amount (10%, 5%, whatever consistent amount is the max you can afford to put away from every check) into the IRA. If possible, have your employer direct-deposit it.
Look into any retirement plan options your employer might offer, and if any of them include any amount of employer matching, take advantage of it.
It's relatively easy to live on $1200 a month WITHOUT government or any other assistance...
Maybe. Until the day you get sick and need a doctor or a hospital or a procedure or diagnostics. Then you will get the rest of us to pay for you.
Quote:
Originally Posted by ChrisC
if you know how to do it. If you know how to find a low COL area and how to minimize expenditures.
One of the biggest problems for people who are poor is mobility. You cannot just up and go when your car is not running. Even if it is barely running it can die on the way and then you are in the gutter again with one repair bill.
Quote:
Originally Posted by ChrisC
It's called "simple living" and/or frugality. It starts with not assuming that you need everything that modern society tells you you need. A huge chunk of the typical modern income is blown on frivolities, non-essentials, status symbols, and voluntary wage slavery. We tend to think we need to live like kings or movie starts... and we are willing to sacrifice our entire adult lives to do so.
You love to generalize and that's fine, so do I
The best way to "make it" and retire early is to make as much money as you can and spend as little as you can. Living on minimum wage is a struggle and in an inhumane society such as ours it is even more difficult.
By all of your accounts so far you have education, you have been employed all your life and have lived as frugally as possible without any modern life "frivolities and status symbols" (that's what you preach, no?). So, you must be rich beyond belief? That must be nice!! My guess is that you are here on this forum to educate us because of your altruistic nature since you don't really have to work anymore for a living?
Maybe. Until the day you get sick and need a doctor or a hospital or a procedure or diagnostics. Then you will get the rest of us to pay for you.
In my case, no. But I'll tell you this: if the "rest of us" is foolish enough to pay for services rendered to any given individual, there will always be individuals willing to accept the free funding. Are you also willing to buy yachts and BMWs for those who lack them?
I'm a firm believer that my health care or lack of health care is my responsibility and choice, not yours. And certainly not the government's. I'm also a firm believer in payment for services rendered and no payment for services not rendered. Simple concept. I do not ascribe any validity at all to the concept of "insurance"--at least any more validity than I do to a mafia "protection service," which is (especially with the Health Care Slavery Law) exactly what it is.
Quote:
Originally Posted by LordyLordy
By all of your accounts so far you have education, you have been employed all your life and have lived as frugally as possible without any modern life "frivolities and status symbols" (that's what you preach, no?). So, you must be rich beyond belief? That must be nice!! My guess is that you are here on this forum to educate us because of your altruistic nature since you don't really have to work anymore for a living?
Yes, education... and (drum roll please) an IQ in the top 1%, or so I'm told (whoop dee doo ). But that does not always translate to an acceptance of the "way things are done" in our modern utopia, or a burning desire to be a part of or excel in that system (you know, the golden calf called, "making it"?). On the contrary, when one is philosophically opposed to such, constantly scrutinizing it, and rather strong-willed with respect to the matter, it results in a reaction not unlike oil and water--and a stubborn compliance only to the extent that is absolutely necessary. So, expect no enlightenment from me on any matter of an economic or societal nature one way or the other, unless you aspire to be eternally at odds with what you see around you. I could, of course, give you specifics about what is involved in a "frugal lifestyle"--my brand, at least--but I fear you would devolve to abject despondency in seeing the shiny trinket that society holds high in up-stretched hands and fervently worships... and you do not possess it. To find that one's god is dead can be rather traumatic.
See there? You get more for your money. Not only do you get my generalization, but you get my indecipherable generalization. I do accept Paypal.
How much can a single guy with no one to support, no kids, no girlfriend expect to be able to save on a minimum wage job?
Good conversation brother..
The truth is, the formula for saving $ is the same at any & every socio-economic level.. spend less than you make. Easier said than done but,..
- use no, or limited, lines of credit
- control impulse purchases.. If I see something I like (but don't need), I'll file it away in mind and let it marinate for a couple weeks. If I still feel passionate about it, I'll return to the store or e-bay to make the purchase.. but usually the desire fades & I save $.
- earlier poster brought up the righteous suggestion of eating-in more. It's typically cheaper & healthier. The extra time is worth it.
- stashing cash in a can/mattress is losing it's worth due to inflation.. that same cash in a savings account is breaking even due to rate of inflation.. Personally I recommend converting cash into gold & silver (even in small quantities if you're savings are small.)
Good conversation brother..
The truth is, the formula for saving $ is the same at any & every socio-economic level.. spend less than you make. Easier said than done but,..
- use no, or limited, lines of credit
- control impulse purchases.. If I see something I like (but don't need), I'll file it away in mind and let it marinate for a couple weeks. If I still feel passionate about it, I'll return to the store or e-bay to make the purchase.. but usually the desire fades & I save $.
Yeah, I mean buying bread and milk is an impulse purchase
In my case, no. But I'll tell you this: if the "rest of us" is foolish enough to pay for services rendered to any given individual, there will always be individuals willing to accept the free funding. Are you also willing to buy yachts and BMWs for those who lack them?
I'm a firm believer that my health care or lack of health care is my responsibility and choice, not yours. And certainly not the government's. I'm also a firm believer in payment for services rendered and no payment for services not rendered. Simple concept. I do not ascribe any validity at all to the concept of "insurance"--at least any more validity than I do to a mafia "protection service," which is (especially with the Health Care Slavery Law) exactly what it is.
Yes, education... and (drum roll please) an IQ in the top 1%, or so I'm told (whoop dee doo ). But that does not always translate to an acceptance of the "way things are done" in our modern utopia, or a burning desire to be a part of or excel in that system (you know, the golden calf called, "making it"?). On the contrary, when one is philosophically opposed to such, constantly scrutinizing it, and rather strong-willed with respect to the matter, it results in a reaction not unlike oil and water--and a stubborn compliance only to the extent that is absolutely necessary. So, expect no enlightenment from me on any matter of an economic or societal nature one way or the other, unless you aspire to be eternally at odds with what you see around you. I could, of course, give you specifics about what is involved in a "frugal lifestyle"--my brand, at least--but I fear you would devolve to abject despondency in seeing the shiny trinket that society holds high in up-stretched hands and fervently worships... and you do not possess it. To find that one's god is dead can be rather traumatic.
See there? You get more for your money. Not only do you get my generalization, but you get my indecipherable generalization. I do accept Paypal.
Well said chris. Somehow, I skipped past this post so I just read it. I fully agree with your assessment of the questionable need for insurance and belief in payment for services rendered.
Well said chris. Somehow, I skipped past this post so I just read it. I fully agree with your assessment of the questionable need for insurance and belief in payment for services rendered.
Questionable need for insurance... I don't know whether to laugh or cry . Yeah, philosophically we would all just go to the doctor and pay for services rendered. However, in practice, unless you have a magic wand you can wave (please, please say you do!) - the reality is we have a ****ty system and we are all trying to get insured in it so that when the time comes we need a doctor or a hospital, we do not lose everything we have been working for over one procedure or illness. What is the number one reason for bankruptcy in United States? That's right, medical expenses!
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.
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.
). But that does not always translate to an acceptance of the "way things are done" in our modern utopia, or a burning desire to be a part of or excel in that system (you know, the golden calf called, "making it"?). On the contrary, when one is philosophically opposed to such, constantly scrutinizing it, and rather strong-willed with respect to the matter, it results in a reaction not unlike oil and water--and a stubborn compliance only to the extent that is absolutely necessary. So, expect no enlightenment from me on any matter of an economic or societal nature one way or the other, unless you aspire to be eternally at odds with what you see around you. I could, of course, give you specifics about what is involved in a "frugal lifestyle"--my brand, at least--but I fear you would devolve to abject despondency in seeing the shiny trinket that society holds high in up-stretched hands and fervently worships... and you do not possess it. To find that one's god is dead can be rather traumatic.
