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Old 01-22-2023, 05:06 PM
 
Location: Elsewhere
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Quote:
Originally Posted by TRlaura View Post
Spot on correct! That is exactly where i stopped also.
I always find it amusing when parents feel they need to save for their kid's college. If the kid doesn't have the brains and resources to pay their way, they really don't belong there.
What 18-year-old kid do you know that has the resources to come up with that kind of money on their own? It's not like they can make tens of thousands working part-time at Starbucks while maintaining a decent gpa.
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Old 01-22-2023, 05:08 PM
 
Location: Elsewhere
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Originally Posted by Ruth4Truth View Post
Part of that "something" is that REIT's and flippers have taken over various aspects of the RE market, driving rents and prices far beyond what most people can pay. They started out in some markets taking advantage of job booms that created increased demand, but now they're spread across the country into other markets, other RE sectors, like mobile home parks and storage facilities. This has been going on under the radar for about 30 years, and people are only now beginning to recognize the problem.

How the Pharma industry was allowed to get away with predatory pricing, making basic prescriptions like inulin unaffordable to most is beyond me.
That is a no-brainer. They get away with it because they spend huge amounts of money putting people into office in exchange for not having laws that control their pricing, same as the A.M.A.
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Old 01-22-2023, 05:08 PM
 
Location: Elsewhere
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Originally Posted by lenora View Post
Come on, Ruth. You're too smart for that. Follow the money. Running for office ain't cheap.
...she said far more succinctly than I did.
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Old 01-22-2023, 07:43 PM
Status: "Mistress of finance and foods." (set 2 hours ago)
 
Location: Coastal Georgia
49,875 posts, read 63,088,205 times
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As far as college for kids..if a parent can afford it, that's fine, but they should not sabotage their own retirement to do so.

In the state where I live, the public schools are underperforming. Parents who can afford it pay a lot of money for private school. I guess these same parents can also pay for college, and still retire comfortably. What happens to a poor kid who is smart? I don’t know.
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Old 01-22-2023, 08:32 PM
 
2,089 posts, read 1,219,432 times
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Originally Posted by gentlearts View Post
We live in a free market system. As long as people still pay the rents, they won’t come down. As long as the pharmaceutical companies can keep making money, they will.

One thing that is really worrying me is foreign countries buying up land in America. I can’t reconcile my belief that a person should be able to sell his property to the highest bidder, against the worry about control by the Chinese and others.
The liquid and fixed assets once owned by the Russian oligarchs in the free world are confiscated or freezed. That could be a reason to turn a blind eye to serve posterity.
In BC Canada, the communist government of China now own 21 retirement homes. The previous buyer / owner is now in jail for frauds or on money laundering charges. LOL
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Old 01-22-2023, 08:48 PM
 
Location: Elsewhere
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Quote:
Originally Posted by gentlearts View Post
As far as college for kids..if a parent can afford it, that's fine, but they should not sabotage their own retirement to do so.

In the state where I live, the public schools are underperforming. Parents who can afford it pay a lot of money for private school. I guess these same parents can also pay for college, and still retire comfortably. What happens to a poor kid who is smart? I don’t know.
Maybe they have a mother who is willing to do whatever it takes to get them through college, whether that means going into debt, staying forever at a public sector job with the commute from hell because there's good health insurance and a pension at the end, then continuing to work after retirement living on the pension and using the salary to kill off the school loans.

That's how we did it. And now she has Dr. In front of her name.

I did have that job, even though I have no degree myself, so of course I was not truly poor. Life was difficult, marriage left me in huge debt, and her father paid support only occasionally, but I always had a paycheck.

For an anecdote about the truly poor, I have a long-time coworker and friend who grew up in the slums in Newark. Has stories of being bitten by a rat as a girl and of the sheriff coming to remive them.from their apartment and putting a lock on the door, and then her mother waiting until after dark, pulling a metal cutting tool out of her coat and cutting off the lock and them all going back inside.

But her mother also volunteered as a teacher's aide at school, and she got her kids into every program that was offered. She made sure they studied and got good grades. Six kids, all with at least Bachelors.
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Old 01-22-2023, 09:31 PM
 
Location: Boston
19,834 posts, read 8,727,103 times
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Quote:
Originally Posted by TRlaura View Post
Spot on correct! That is exactly where i stopped also.
I always find it amusing when parents feel they need to save for their kid's college. If the kid doesn't have the brains and resources to pay their way, they really don't belong there.
a couple years in the military solves a lot of educational expense problems and is a positive on a resume.
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Old 01-23-2023, 03:54 AM
 
Location: Spain
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Quote:
Originally Posted by gentlearts View Post
When I first got married, mothers stayed home, a big new house cost $34k
You might be surprised at how those "big" houses back in the day compared today's homes. In 1949 the average square footage was a little over 900 square feet with an household size of 3.7 people, today it is about 2,500 square feet.
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Old 01-23-2023, 04:40 AM
 
Location: PNW
7,053 posts, read 2,939,829 times
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The one young lady in that video with a condo and recently purchased a $10k car stated that she should be able to take advantage of everything her city has to offer. And, I'm thinking I've never been able to do that and most people are not billionaires and cannot take advantage of every amenity their city, towns, suburbs have to offer. She said "it isn't fair." My gosh that makes zero sense to me. Everyone has to live within a budget. She has a Master's Degree and chooses to work as a social worker. That's a choice. There are higher paid occupations out there.

I understand the cost of college has gone up; but, I could never afford to do exactly what I wanted to do either. So, I did what I could afford to do. And, then I lived with it.

I agree inflation is completely out of control and it has hurt many people. It's going to hurt the entire economy (including those people whom all the money funnels into ultimately). It's a vicious circle and they need to stop blowing bubbles and bursting them. It's a very sick game they are playing.
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Old 01-23-2023, 06:47 AM
 
16,938 posts, read 21,522,478 times
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Quote:
Originally Posted by gentlearts View Post
We feel poor, because we are poorer. The cost of everything is rising, so we are forced to cut expenses of things we can control, because the things we can’t control, like insurance, taxes, rents, are going up.

As retired people, we are used to looking for ways to cut back every year, but I do not know how families with kids, or young people just starting out are making it.

When I first got married, mothers stayed home, a big new house cost $34k, and an annual income of $12k was enough to be comfortable. I know everything is relative, but something is seriously out of proportion these days.

Ok I've said this before, look at all the stuff that our parents NEVER paid for:

Gym memberships, HOA fees, leased cars, $ixbucks coffee, satellite radio, cell phones/internet........

This stuff is stealing money out of households and being marked as "necessity" vs. extras.

My parents bought a brand new 4 bedroom house in Fort Lauderdale in the mid 70s for 44K. They both worked but certainly weren't killing it. They NEVER had 2 car payments at a time, never paid for cable tv, private school and rarely went out to dinner (maybe once a month at a BBQ place). I'm not sure they ever ordered out of the Sears catalog, nevermind something like Amazon!

Reality is people overspend both big and small, this erodes their financial stability this month, this year and in some cases their whole lives.
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