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many of us have grown decent wealth from nothing just investing over time in simple funds.
if that is rigged , then i say rig it some more because this is what takes the little bits we are able to scrimp and save and has turned it in to meaningful amounts
Last edited by mathjak107; 05-21-2023 at 07:24 AM..
A 27 year old female moved into our neighborhood (2 doors down) last summer. My next door neighbor was trying to figure her out (what she did for a living). She's single. She was having a bunch of landscaping work done so my neighbor was concerned about the changes (or at least curious). So, recently she told me she saw her on Facebook and she has been doing accounting work for car dealerships and I had also recently seen an opening at my Acura dealership and noticed that they pay well.
So, you know this 27 year old girl with a regular job was able to save enough money to buy a $595,000 house and put a down payment and get financed. I'm going to guess that she lived with roommates or did whatever she had to do to save money. She's only 27 and she is working her way up the food chain.
Great post.
Quote:
Originally Posted by Wile E. Coyote
...you know just like a boomer and every other generation. She's not sitting around whining about the unfairness of it all.
"People who are successful have stories to tell. People who are failures have excuses."
I'd expand that to say stupid life choices keep you poor.
Yes, overwhelmingly.
There are a small percentage of people who suffered a debilitating injury or illness, were unable to work for lengthy periods, and now cannot work and receive disability, but they are the exception and not the rule, and even most of them try to get back in the saddle.
Quote:
Originally Posted by Wile E. Coyote
So, recently she told me she saw her on Facebook and she has been doing accounting work for car dealerships and I had also recently seen an opening at my Acura dealership and noticed that they pay well.
She's very enterprising.
Quote:
Originally Posted by bluesclues5
And lots aren't. The data doesn't lie.
No, it doesn't but you obviously don't understand the data you're reviewing.
Quote:
Originally Posted by bluesclues5
Housing and CoL are increasing.
Housing costs have been increasing for 2,000 years. Shocking, isn't it?
If you can't afford to live where you live, then move.
You remind me of the idiot over on the Ohio forum.
He was from California and angry that his wife was considering a teaching job here in Ohio because he was absolutely convinced she was gonna take a $14,000 pay cut.
I did everything in my power to convince him she was actually getting a $18,000 pay raise, but he was hung up on the numbers and his teeny tiny brain just couldn't wrap around the concept.
She posted under his account and I got her to tell me which county the school district was in. I did a quick search and posted 4 homes each one a 3-4 bedroom ranch with 1-2 car garages on an acre of land or more that ranged between $89,000 and $129,000.
I told her she wouldn't want them because she probably couldn't afford the property taxes (I posted links for each one for the TAV on the auditor's website).
That was all it took. She was gonna take that job. She realized they could sell their house in California and pay cash for a house here, and bank the rest for retirement, and what they saved on property taxes in one year they could almost pay cash for a new car.
I don't know how it ended, but I hope she divorced the ******* and went on to live her dreams.
Quote:
Originally Posted by bluesclues5
You're still clinging onto the mentality that because some are doing well, everything is fine.
And you're still clinging to the mentality that a success rate of 90+% merits a grade of "F".
People are in poverty by choice.
Quote:
Originally Posted by bluesclues5
I can see with my own eyes the homeless and poverty in EVERY city in the US.
That has nothing to do with Economics.
More than half of the homeless are mentally ill. Thanks to people like you, they cannot be compelled to seek treatment or compelled to take the medication that would allow them to function. That is a failure of social and legal policies, not economics.
The other half are substance abusers who cannot be compelled into treatment unless they commit a crime. That is also a failure of social and legal policies, not economics.
Quote:
Originally Posted by bluesclues5
You boomers are so out of touch with reality.
You're the one out of touch.
Quote:
Originally Posted by Thatsright19
And do you think costs of education, housing, and benefits might be up to live in those cities?
There are a small percentage of people who suffered a debilitating injury or illness, were unable to work for lengthy periods, and now cannot work and receive disability, but they are the exception and not the rule, and even most of them try to get back in the saddle.
She's very enterprising.
No, it doesn't but you obviously don't understand the data you're reviewing.
Housing costs have been increasing for 2,000 years. Shocking, isn't it?
If you can't afford to live where you live, then move.
You remind me of the idiot over on the Ohio forum.
He was from California and angry that his wife was considering a teaching job here in Ohio because he was absolutely convinced she was gonna take a $14,000 pay cut.
I did everything in my power to convince him she was actually getting a $18,000 pay raise, but he was hung up on the numbers and his teeny tiny brain just couldn't wrap around the concept.
She posted under his account and I got her to tell me which county the school district was in. I did a quick search and posted 4 homes each one a 3-4 bedroom ranch with 1-2 car garages on an acre of land or more that ranged between $89,000 and $129,000.
I told her she wouldn't want them because she probably couldn't afford the property taxes (I posted links for each one for the TAV on the auditor's website).
That was all it took. She was gonna take that job. She realized they could sell their house in California and pay cash for a house here, and bank the rest for retirement, and what they saved on property taxes in one year they could almost pay cash for a new car.
I don't know how it ended, but I hope she divorced the ******* and went on to live her dreams.
And you're still clinging to the mentality that a success rate of 90+% merits a grade of "F".
People are in poverty by choice.
That has nothing to do with Economics.
More than half of the homeless are mentally ill. Thanks to people like you, they cannot be compelled to seek treatment or compelled to take the medication that would allow them to function. That is a failure of social and legal policies, not economics.
The other half are substance abusers who cannot be compelled into treatment unless they commit a crime. That is also a failure of social and legal policies, not economics.
Trust me on this, I understand economic data better than you do. Just before covid "real" wages set an all time high. This April wage growth rose more than inflation.
Poverty rates are just a little over 30 year lows. IOW your poverty claim is rejected.
Hosehold debt vs. GDP is way down over the last 15-18 years your debt claim is rejected as well.
Why make it a generational issue by saying "you boomers" and "your generation" - like all 70 Million that make up about 20% of the US population are all the same. I would say it is you that is out of touch with reality because you have no idea what life was like, only imagine it being better.
Most of the younger generations haven't got to the point in life where at peak earnings, where there is much extra disposable income with money to save to invest and purchase second homes - they will get there.
Also your idea of poverty is way off - according to the data, more were in poverty in the 1980s than currently and the poverty rate was about double in the 1960s than in the lowest year on record which was 2019 - poverty is very low currently compared to historical data.
BTW - My first house had a mortgage at 18%, that means more than half of every paycheck was just in interest for housing.
Because of the drastic differences in CoL happens across generations. You don't want to use generational demographics, fine. Let's use decades.
Things such as housing, higher education, medical expenses, etc. are less affordable now relative to income than the during the 60s-80s
Congrats, when you purchased your home (I'm guessing in the early 80s), it was under 2x price to income ratio vs 5x today.
You could refinanced the very low price of your home 4 years later when it was 10% or another 5 years later when it was 7.5%.
Then with your own eyes you'll also see the result of consuming far too many calories - gross obesity is rampant, and IIRC, at least one state's official numbers now place greater than 50% of its residents into the morbid obesity category. You don't get fat by being poor. You get fat by having so much money that you buy & eat more calories than needed.
With your own eyes, drive past shopping centers and you'll see both parking lots and shopping carts are full - that is, plenty of spending money.
With your own eyes, drive past airports and you'll see LED signs cautioning all the airport parking lots are full - a sign that people have money and are spending it on travel.
With your own eyes, see the historically low unemployment rate - anyone who wants a job can get one (perhaps not their dream job, but they can get a job).
With your own eyes, see the low labor participation rate - many people do not participate in the labor force because they have no financial reason to do so; they have enough money from savings/investments and from government transfer payments so they feel any pressure to go get a job.
Lol, "double dog dare" guy again.
Studies have shown the poor to be more fat because they eat cheap, unhealthy junk food consisting of empty calories, void of nutrition. https://www.sciencedirect.com/scienc...23743879000581
Are you trying to argument that we have a healthy economy or something by quoting employment rates and job figures? You do know employment rates are highest right before a recession right? We haven't had a healthy economy since before the 2000s.
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