Home › Forums › Closed Forums › Properties or Areas › Mapping America
- This topic has 110 replies, 9 voices, and was last updated 14 years, 2 months ago by
briansd1.
-
AuthorPosts
-
December 15, 2010 at 4:25 PM #640972December 15, 2010 at 4:25 PM #639877
UCGal
Participant[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.
Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.December 15, 2010 at 4:25 PM #639948UCGal
Participant[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.
Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.December 15, 2010 at 4:25 PM #640529UCGal
Participant[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.
Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.December 15, 2010 at 4:25 PM #640665UCGal
Participant[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.
Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.December 15, 2010 at 4:25 PM #640982UCGal
Participant[quote=enron_by_the_sea]If you have 200K of income and you spend 30% of that on mortgage you are in a lot less financial stress compared to someone who makes 50K and spends 30% of that on mortgage.[/quote]
I don’t disagree with that.But if you have $200k of income and a spouse loses a job and now you have $100k of income… that hefty mortgage payment just got a lot harder to make.
Anyone can draw any conclusions they want.
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.December 15, 2010 at 4:27 PM #639882enron_by_the_sea
Participant[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]Couldn’t agree more.
December 15, 2010 at 4:27 PM #639953enron_by_the_sea
Participant[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]Couldn’t agree more.
December 15, 2010 at 4:27 PM #640534enron_by_the_sea
Participant[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]Couldn’t agree more.
December 15, 2010 at 4:27 PM #640670enron_by_the_sea
Participant[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]Couldn’t agree more.
December 15, 2010 at 4:27 PM #640987enron_by_the_sea
Participant[quote=UCGal]
I’m of the mindset that too many of us are living beyond our means and will be screwed if employment takes more hits.[/quote]Couldn’t agree more.
December 15, 2010 at 4:59 PM #639912bearishgurl
ParticipantVery interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.
Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)
Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??
December 15, 2010 at 4:59 PM #639983bearishgurl
ParticipantVery interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.
Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)
Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??
December 15, 2010 at 4:59 PM #640564bearishgurl
ParticipantVery interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.
Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)
Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??
December 15, 2010 at 4:59 PM #640700bearishgurl
ParticipantVery interesting, brian. I will look at the maps when I get more time but it appears they are using income as one of the criteria and not net worth. Many people with high net worth have a low income and vice versa.
Does this “Map of America” take into account the many folks who take regular draws off tax-free and tax-deferred income and pay no taxes on the draws? Is SS and passive income counted as “income” in the Map of America? What about folks getting $2500 and up per month SSDI? (I know several and they are not required to file tax returns.)
Who has more discretionary income, a passive income citizen in a zero tax bracket who is living in a paid-for residence with Prop 13 tax treatment on =<$50K a year w/1 dep or a worker-bee making $175K-$200K per year as W2 income with 3 deps, who pays 40% of their net income on PITI??
-
AuthorPosts
- The forum ‘Properties or Areas’ is closed to new topics and replies.