U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-11-2020, 10:07 AM
 
6,948 posts, read 5,180,163 times
Reputation: 15087

Advertisements

Quote:
Originally Posted by Nov3 View Post
Not all adults are given a leg up as you were provided. Some of us had challenges of circumstance. .......
You have jumped to some conclusions. My wife and I started out with me going to Vietnam. I was able to send back some money. After all I got combat pay while in Vietnam. That brought my gross pay to $90/month. Even then that was not much money. When I returned my wife was still short of graduating college by 6 months. Unemployment in Cleveland was over 20% and vets were not exactly well received. Times were tough but we were able to get her through and later I quit my low paying job and went back to the University. My wife commuted to school and jobs on a bicycle in the Cleveland winters. I walked a mile and took a bus. Later we traded some woodworking tools for a car. You can imagine how that worked out. Stuff was constantly falling off the car and I fought a gas tank leak with bondo. I never won that battle. Our cheap apartment often had no heat and we would wake up to 40-50 degree temperatures in the apartment. The pipes would thump and the radiators would start to heat and then nothing. Eventually we had to move to another dumpy apartment. Our bed was a used mattress on the floor. We were married 7 years before we got an actual bed. That was a big "leg up" event since my parents came to visit and bought that for us. I guess sleeping on air mattresses when they visited helped with that leg up.

I know plenty about "circumstance". We were always worried about some circumstance that would push us over the edge. That was a concern for years and years but we always managed to pull through. That included when I had a job internship and we lived in California with a total weekly budget of $50 for food, diapers, gas, etc.

Like many people we had plenty of tough times.
Reply With Quote Quick reply to this message

 
Old 01-12-2020, 01:15 PM
 
13,104 posts, read 10,473,352 times
Reputation: 10186
Quote:
Originally Posted by JustMike77 View Post
It works in the right situation. I have a buddy who cared for an older gent for years and when he died last year, the family gifted my friend a paid off condo. I did the appraisal for the estate and valued it at $ 450,000. My friend didn't have the cash to handle the escrow/title costs and also wanted to consolidate his credit card bills. With a 525 credit score, the best loan he could get was 9% + 2 points. So, I loaned him $ 150,000 at 9%, no points. I feel perfectly safe being in first position with a 1st trust deed on a $ 450,000 property. If he can't pay, I get the condo. Besides, how could I pass up 9% in this interest rate market ?
Honestly, this kind of thing is hyper-risky unless you have a lot of relevant legal expertise AND you are in first lien position AND you monitor every year to make sure the owner is paying their property taxes and insurance on time, AND that they are keeping up with all code requirements AND the owner has a lot of equity.

Remember Murphy's Law - anything that can go wrong, will go wrong.
Reply With Quote Quick reply to this message
 
Old 01-17-2020, 09:54 AM
 
Location: Chandler, AZ
2,776 posts, read 1,400,869 times
Reputation: 6584
Quote:
Originally Posted by ohio_peasant View Post
And as for "wealth"? Well, here's a working definition. "Wealth" is the wielding of sufficient material wherewithal, to change the course of world history. Good luck building that.
So a tiny handful of people throughout all of history have been "wealthy" according to you. Huh. Interesting.

I guess the rest of us should just commit suicide now. It's all pointless. Goodbye cruel world...
Reply With Quote Quick reply to this message
 
Old Today, 08:03 AM
 
27,423 posts, read 34,305,874 times
Reputation: 35299
Quote:
Originally Posted by jrkliny View Post
You have jumped to some conclusions. My wife and I started out with me going to Vietnam. I was able to send back some money. After all I got combat pay while in Vietnam. That brought my gross pay to $90/month. Even then that was not much money.
What pay grade made $90 a month??


https://www.navycs.com/charts/1968-m...pay-chart.html
Reply With Quote Quick reply to this message
 
Old Today, 09:03 AM
 
Location: Chandler, AZ
2,776 posts, read 1,400,869 times
Reputation: 6584
Quote:
Originally Posted by ChessieMom View Post
Why are you assuming he was there in 1968? It isn't like that's the first year the US had people in-country.
Reply With Quote Quick reply to this message
 
Old Today, 11:17 AM
 
27,423 posts, read 34,305,874 times
Reputation: 35299
Quote:
Originally Posted by jnojr View Post
Why are you assuming he was there in 1968? It isn't like that's the first year the US had people in-country.
I was not assuming. I was just picking a year during the conflict. So tell me what year of the Vietnam conflict did the military have a pay scale of $90 a month?

Here are the rates from 1955 - the very first year of the Indochina wars.

https://www.navycs.com/charts/1955-m...pay-chart.html
Reply With Quote Quick reply to this message
 
Old Today, 01:49 PM
 
12,513 posts, read 7,478,861 times
Reputation: 6797
Quote:
Originally Posted by ChessieMom View Post
I was not assuming. I was just picking a year during the conflict. So tell me what year of the Vietnam conflict did the military have a pay scale of $90 a month?

Here are the rates from 1955 - the very first year of the Indochina wars.

https://www.navycs.com/charts/1955-m...pay-chart.html
$90...$150....does it matter? I doubt young soldiers have ever been wealthy.
Reply With Quote Quick reply to this message
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.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top