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Old 05-09-2023, 09:20 AM
 
16,412 posts, read 8,215,049 times
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No I don't know everyone's financial situation but many people have financial situations that could change for the worst pretty quickly. Is that hard to comprehend? I guess it is for people here. Wow.
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Old 05-09-2023, 09:27 AM
 
Location: Needham, MA
8,545 posts, read 14,030,644 times
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Originally Posted by msRB311 View Post
No I don't know everyone's financial situation but many people have financial situations that could change for the worst pretty quickly. Is that hard to comprehend? I guess it is for people here. Wow.
No. It's quite easy to comprehend. I have a friend who lost his job last week and he and his family are really tightening their belts to get through this and every time I talk to him I can hear the concern in his voice.

For all I know . . . everyone on this forum has $10M cash in the bank. They could just as easily have $1. My point is . . . . you don't know what people's situations are. Spending $1K is meaningless to some people and to others that's every penny they have.
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Old 05-09-2023, 09:45 AM
 
16,412 posts, read 8,215,049 times
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Originally Posted by MikePRU View Post
No. It's quite easy to comprehend. I have a friend who lost his job last week and he and his family are really tightening their belts to get through this and every time I talk to him I can hear the concern in his voice.

For all I know . . . everyone on this forum has $10M cash in the bank. They could just as easily have $1. My point is . . . . you don't know what people's situations are. Spending $1K is meaningless to some people and to others that's every penny they have.
No i dont know for sure but based on jobs and knowing certain people's situations in my lives that's more what i'm talking about. I'm talking more about people I see making these purchases who I know...not people on this forum.
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Old 05-09-2023, 10:14 AM
 
15,799 posts, read 20,513,219 times
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Originally Posted by msRB311 View Post
I'm talking more about people I see making these purchases who I know
Unfortunately i've witnesses some nasty divorces among peers and the dirty laundry seems to always come out.

Some of it is trying to keep up with the joneses.
Some of it is shady income sources
Some is inherited family wealth that is somewhat low-key. (For instance, quietly sold a $1mil home in the past, or received a settlement for an accident, invested most of it and just pull $20-30K here and there over time)
Some get crazy comp packages.
Some is smart investment practices
Some is a mix of all the above (no so much the illegal stuff hopefully)

It's as you would expect...a mix.
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Old 05-09-2023, 10:19 AM
 
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Originally Posted by BostonMike7 View Post
Unfortunately i've witnesses some nasty divorces among peers and the dirty laundry seems to always come out.

Some of it is trying to keep up with the joneses.
Some of it is shady income sources
Some is inherited family wealth that is somewhat low-key. (For instance, quietly sold a $1mil home in the past, or received a settlement for an accident, invested most of it and just pull $20-30K here and there over time)
Some get crazy comp packages.
Some is smart investment practices
Some is a mix of all the above (no so much the illegal stuff hopefully)

It's as you would expect...a mix.
Yep. I know people in all of these situations, lol

I have to say I don't know many people who get divorced. I think the people I know are very lucky and happy or they are staying together for the kids/finances.

I also know lots of people who did ok/average as a single person then married someone rich.
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Old 05-09-2023, 10:24 AM
 
9,097 posts, read 6,321,431 times
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Originally Posted by msRB311 View Post
Yes probably more to the story. If it were me I'd move back to FL to live in a tent. However MA is much more liberal than FL and perhaps she came back for reasons related to that.
Conventional wisdom says that homeless people would be better off in warmer climates than colder climates. However there are risks in a place like Florida or Texas namely wildlife like alligators, poisonous snakes and scorpions. How do people living in tents defend themselves from those snakes and alligators? Warmer climates also attract more people so the homeless in Los Angeles and San Francisco will be dealing with more social tensions and crime than homeless people in Massachusetts.
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Old 05-09-2023, 11:05 AM
 
2,710 posts, read 1,736,446 times
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Originally Posted by msRB311 View Post
No I don't know everyone's financial situation but many people have financial situations that could change for the worst pretty quickly. Is that hard to comprehend? I guess it is for people here. Wow.
I got a lot of backlash here for financing a 50k car 100% at a low interest rate instead of paying it off. I'd rather have the extra 50k in the bank for peace of mind.
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Old 05-09-2023, 11:10 AM
 
16,412 posts, read 8,215,049 times
Reputation: 11403
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Originally Posted by matrix5k View Post
I got a lot of backlash here for financing a 50k car 100% at a low interest rate instead of paying it off. I'd rather have the extra 50k in the bank for peace of mind.
I could care less how people buy their cars lol. Homes is a bit more intriguing to me.
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Old 05-09-2023, 11:12 AM
 
1,541 posts, read 1,127,226 times
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Originally Posted by matrix5k View Post
I got a lot of backlash here for financing a 50k car 100% at a low interest rate instead of paying it off. I'd rather have the extra 50k in the bank for peace of mind.
You should be flogged for buying a $50k car.
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Old 05-09-2023, 11:18 AM
 
16,412 posts, read 8,215,049 times
Reputation: 11403
You should be flogged for buying a car. Ride a bike.
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