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We used to take the daily paper and once a year the Sunday Parade "magazine" that comes in the paper would do a "How much do they make?" article. It would show random people from the top of the income spectrum to the lower echelons and state their position and annual salary. I was stunned at how little many careers paid, even those requiring at LEAST a BA or BS, and even some that require a Master's degree. I guess that's actually when I knew that I was doing much better, even with no college.
I look back at my life (in fact I am reading my old journal from about 25 years ago), I was in debt up to my eyeballs and money was super tight. So, I remember what it was like to be hungry. Right now, on paper, we have a modest income. But, we live fairly frugally. I know we are VERY lucky. We were able to buy our house outright (it was a foreclosure) and since our other house was pretty much paid for, we were able to take out a loan against that house. Once that house sold, the loan was paid off. To be fair, I did have a bit of help-I inherited a healthy amount. Some of it went into the house while the rest is invested. Right now, the only thing we owe is our car. Otherwise we are debt free. We COULD pay that off if we wanted to-using our investment, but we opted not to. We figured that the investments will be there if we want to use it for anything-if not, the kids are going to have a nice windfall some day.
I don't think of myself DOING better than others. I think of myself as being luckier than others. I think how lucky I am almost everyday-and I usually think about it as I am sitting in my clawfoot tub every night.
I read an interesting article in the Washington Post about a trial program in Mississippi on basic income. They were giving people 1000 a month.
One lady said she normally would buy the latest fashions for her kids to show others that she could "provide" for her kids. I guess buying them name brand fashion was more important that paying the rent.
But after a year, she had changed and managed to save the extra income. The first 1000 she received, she spent in one weekend.
According to the WaPo article, that mother has moved into and is paying the mortgage on a Habitat for Humanity house in which she invested 125 hours sweat equity, has attended a financial literacy workshop, is working 2 jobs, has paid off her credit card debt, is paying for tutoring for her children, and has saved almost $13000.
All this in less than a year.
Quote:
Gray’s relationship with money changed dramatically. She used to want to put her children in the hottest clothes to prove that she was providing for them, but now saw the value of visiting the clearance racks. She paid off $4,000 in credit card debt. She found an $11-an-hour teaching job at a preschool and another part-time job, so she could save more money. As her new bank account grew from zero to $1,000 to $2,000, she began looking to leave the projects.
Quote:
Nine months into the program, she had saved close to $13,000.
Last edited by biscuitmom; 09-10-2019 at 05:12 PM..
Reason: edit: I see MMoB has already covered this
I hope we don't end up in a socialist country. "Wealth redistribution" means they take the money you've spent a lifetime saving and give it to people who've never lifted a finger; maybe even illegals.
Sorry, but that is not how socialism works...
And our society has a lot of re- distribution of its own: lawsuits, malpractice, extraordinary medical expenses, long term care, etc-
Socialism has not even come close to this types of wealth redistribution...
According to the WaPo article, that mother has moved into and is paying the mortgage on a Habitat for Humanity house in which she invested 125 hours sweat equity, has attended a financial literacy workshop, is working 2 jobs, has paid off her credit card debt, is paying for tutoring for her children, and has saved almost $13000.
All this in less than a year.
I don't really compare our situation with peers or at least I try not to. I just feel fortunate that we have no financial worries. I worry more about health than about money.
A bit OT, but people who run pawnshops are either criminals themselves or they rub elbows with criminals on a regular basis. I’d recommend you avoid bringing them into your life circle unless you want trouble.
Quote:
Originally Posted by Clemencia53
you could be right!
He probably has off the books "income" also, but spends it foolishly and then whines about how hard his life is!
I don’t who your acquaintances are that run pawnshops, but the ones I know are not and never were criminals. They built their successful businesses by working hard, keeping their word, and following the multitude of rules and regulations governing their industry. Casual slurs and denigrating remarks are not becoming.
Sorry, but that is not how socialism works...
Socialism has not even come close to this types of wealth redistribution...
The wealthiest human being on the planet is Vladimir Putin, with an estimated net worth exceeding $250 Billion, and possibly as high as $500 Billion. That greatly exceeds the combined wealth of Jeff Bezos, Bill Gates, and Warren Buffett.
Socialism's redistribution has worked out very well for Vladimir Putin -- the country's wealth has been redistributed to him.
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