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bearishgurl
Participant[quote=flyer]BG–Very interesting info on your family–good stuff. With what those kids are making, and the lower cost of living where they reside, they should be able to retire early, and transition into something that is less physical as they grow older. It could easily be a win-win for them, if they plan well.
Perhaps they could invest in property, and franchises, etc., along the way. At least they amount to SOMETHING, and are taking responsibility for their own lives.
As I know I’ve mentioned before, I can’t tell you how many friends we have with kids in their 20’s and close to 30, (college-educated or otherwise) who are completely incapable of supporting themselves, and don’t want to do anything because they couldn’t achieve their “dreams.” Sadly, I think this scenario may only become more prevalent going forward.[/quote]
Yes, flyer, long-haul trucking is BIG in this region. As you may be aware, I-20 and I-40 (coast to coast) are MAJOR truck routes (I-40 being the busiest in the nation with I-80 a close second).
There are SO MANY jobs in rural “flyover” America that pay well. And these states are heavily populated by very tired boomers, WWII Gen and the remaining remnants of the Greatest Gen (sr citizens). Why? Because hundreds of thousands of Gen X/Y have migrated to colleges on the coasts, become established and NEVER CAME BACK HOME! Surprisingly, a large percentage of the “seniors” in “flyover country” are still working and would like to “retire” but there is no one in the pipeline for miles around to take their places! They paid their houses (and rental properties) off at least 20 years ago!
I’ve had SEVERAL relatives who worked FT in their 70’s until they suddenly felt too sick …. and then died within hours or days or being admitted to the hospital … including my own workaholic dad …
Where ARE all of these strapping 20-somethings? If they are racking up student loan debt while battling the “system” (ex. CA UC/CSU) to get needed classes to “graduate,” they may be wasting their time and (needlessly) mortgaging away their young lives with student loan debt in order to remain in their coastal CA “college town of choice” for as long as it takes to graduate.
Folks, the “flyover states” are beckoning your presence. Contrary to the belief of “flyover state residents” that Cali will eventually be an island in the Pacific, take it from me, the Golden State is truly not going anywhere. It will all be here when you come back 🙂
As a young Cali native, you can always return after making your “requisite $500K.” Last time I looked, it was a “free country.” :=]
bearishgurl
Participant[quote=spdrun]The pay is good, but can they live with themselves considering that they’re making a nice contribution to environmental destruction?
Oil should have been left in the 20th century — we should be 95% renewable, hydro, and nuclear energy at this point, using hydrogen for high-density storage….[/quote]
I understand what you’re saying, spdrun.
Except … we’re not. Thus, we have these lucrative Halliburton jobs, right here in our own country! Why wouldn’t a 6’3″ fmr HS football center NOT want to take one of these positions for a few years in order to “launch” their adult lives … in lieu of college … to take time to figure out what they want to major in first … OR to see if college is really right for them?
Not EVERY parent has $1000 per month lying around to spend on a college dorm and mealplan, even given they will only pay in-state tuition. And college freshman in OK and TX public universities are required to live on campus for their first year. If already married, there are apts available on campus for them.
And what about the family has two or more kids in college at the same time?
This is an awesome opportunity for these young men, IMHO.
bearishgurl
Participant[quote=ucodegen]Oilfield pay is a different equation all together.. the good paying jobs on the oilfield are also very dangerous and physical.[/quote]
It also can be boring at times, from what I hear. And reading on the job is supposedly not allowed. Sometimes they can play with their iphones, but quite often there is no cell reception until they retire back to their rooms at night.
It’s still an incredible opportunity for a young person to be able to earn $500K or more with nowhere in sight (and no need) to spend it. Many crewmembers undoubtedly can afford to come “back home” after a few years and get married, settle down and have a family … with little financial worry.
If the entry-level crew member decides to stay with Halliburton, they will pay most or all of their college tuition to major in a field which the co offers a career path in. For example, see:
The company offers many lateral and upward career possibilities and a LARGE employer of residents of those “dreaded” flyover states. They always have lots of job openings.
bearishgurl
Participant[quote=flu]Cool…
Hey, I’m not complaining about auto mechanics. I wouldn’t mind doubling up as one occasionally…
There’s a misconception about why some car repair bills are so high.. Beyond just the labor, these days it’s parts. Most problems are in the electronics…Mechanics don’t repair electronics… they swap boards….
And frankly, anyone reasonably mechanically inclined can do this.. all they need is the factory shop manual and access to sometimes specialized tools and scanners…
People who can debug these cars and repair electronics (rather then sending them to the factory for a swap) probably can make a lot of money. BUT, most people who are mechanics don’t have the skills for that.
There’s also the other angle… Labor jobs are great when you’re young and healthy…Not so great when you get old and have health issues…That becomes apparent when you’re working on a car day in and day out.[/quote]
flu, even if you spend $50 to $100 for your vehicle’s shop manual, these “specialized tools and scanners” you speak of here can run up to $80K apiece (for the European models).
Joe6p “car enthusiast” doesn’t usually keep one of these in his garage (next to his old frig with a keg inside).
bearishgurl
ParticipantI’ve currently got three young nephews (25 yrs and under) working on “frac crews” in those dreaded “flyover states.” The 25 yo has an associate degree, one has a HS diploma and the other one has a GED. Their salaries range from $110K to $145K annually. Hotels (usually Best Western) and per-diems are included in their pay pkg.
The 26 yo spouse of my 19 yo niece returned 2.5 yrs ago from the crew and promptly built (with his dad’s help) a beautiful large log home with a wrap around porch on a 10 AC parcel his grandmother left him. He’s now a certified John Deere mechanic and they have NO MORTGAGE.
Of course, ALL of these young men drive the latest 4WD vehicles and also own late model cars, all free and clear.
Not EVERY “college age” Gen Y is racked up with student debt and needs a Starbucks in order to motivate themselves to get out of bed in the morning :=0
bearishgurl
Participant[quote=Hobie]Can anyone else envision a giant hotel tower build on that rock overlooking the Temec Valley?[/quote]
LOL, based on Chmn Macarro’s speech, I don’t think the tribe has any plans to develop the site. If they do at all, it will likely be just part of the base (trailhead map board, visitor’s center, restrooms, parking lot, etc). I think they want to make trails (even possibly 4WD trails) on it in order to allow interested groups and individuals to look for clues and possibly locate/excavate archaeology of the tribe’s ancestral remains.
I think it’s wonderful they were able to wrestle it away from Granite and I have full confidence that it will be part of their “reservation” in the coming years. This will prevent ANY gov’t entity from ever trying to take it in the future in eminent domain proceedings.
“Deserving” Native American tribe = 1
Big Development = 0bearishgurl
Participant[quote=earlyretirement]Just an update. I went ahead and paid off both CFD’s a few weeks ago. The CFD #4 (Poway Unified) came in around $15,000.
And the CFD #2 for Santaluz fortunately came in at the lower end of their previous estimate of $45,000 to $50,000. I had to pay $500 to get an exact payoff and a few days later they emailed me an exact payoff. It came in about $46,000.
It will be a great feeling to be done with these Mello Roos taxes. We definitely will stay in our house for the long run so this seems to be a no brainer.[/quote]
For you, ~$61K is a little over ten years of paying MR by the month. I guess if you’re SURE you’ll be there at least that long, then you definitely got a discount by paying it off early.
Not sure if your early payoff will affect your resale value, though.
bearishgurl
ParticipantIt will stop when the lenders stop getting paid by the PTB to play this game and not one moment sooner.
bearishgurl
Participant[quote=flu]don’t believe everything what the MSM posts about $100k jobs…[/quote]
Oh, I don’t think these jobs pay $100K straight out of school. But I believe many of them pay $55-80K straight out of school WITH full benefits and generous leave pkgs. And I believe a new hire can work their way up to a $100K annual salary in 3-5 yrs if they are truly motivated and know their stuff.
This is VERY good, considering the GM school is likely 24 mos long (same length as many ROP programs in CA) and a truck-driving school is 12-18 months long. They are likely FT schools where the student has to punch in and out every day, the same as they would with an employer.
Why don’t you watch the video, flu, instead of being so “skeptical.”
Next time you have a “typical” $1200 bill on your Bimmer at the shop, ask yourself how much they actually have to pay someone (who knows what they’re doing) to work on it.
bearishgurl
ParticipantThat’s fantastic news, paramount!
I just watched the first 12 mins of your video with Tribal Chairman Marc Macarro. Knowing a bit about Indian Law, I really DO think Pechanga will be able to make the mountain (that they just bought from Granite Construction for $20.3M) part of their “reservation.” If all goes well, it could take them as little as three years to do this.
Pechanga actually managed to obtain a moratorium in the settlement agreement from Granite that they will not attempt to build a quarry within a 90-mile radius of that mountain!
You have Granite to thank for this as well. They didn’t have to negotiate. $20.3M likely covered most or all of their acquisition and legal costs. It’s even possible they took a small loss to wash their hands of it.
It’s been a lo-o-o-ng, VERY expensive battle for all concerned. See:
http://piggington.com/looming_disaster_for_the_temecula_area_liberty_quarrymega_mine
http://piggington.com/ot_victory_gravel_pit_denied
http://piggington.com/devastating_setback_for_temecula_quarrygravel_pit_is_approved_ma
bearishgurl
Participant[quote=AN][quote=flu]If $400/year for $1million and it’s like $300/year for $500k, what difference does it really make. That’s like two tanks of gas. Or 3 times eating out for 2 at an average restaurant… Don’t see what the big issue is for someone healthy.[/quote]
Where can you get $1M policy for $400/year? I’m quite a bit younger than most on here and for my age, a $1M policy is around $800-$1k, a $2M policy is around $1600-1900. I didn’t check for the $500k policy, but I assume it’s close to 1/2 of the $1M policy, since the $2M policy is about 2x. For the $300 vs $400, I totally agree, but if it’s $400 vs $800, it might stretch some people.[/quote]I’m paying $564 annually for $250K coverage but I was old when I qualified and even older now (but well preserved, lol).
bearishgurl
Participant[quote=ljinvestor]I’m in the business and would say go with the 20yr term. Don’t see any reason to pay extra cost of 25 or 30 year when with most carriers you can convert before the end of 20th year at today’s health rating if coverage is still needed[/quote]
Agree. I got a 20 yr level term policy several years ago at a good rate. But I was really put thru the paces to qualify for it. I feel grateful to have it, and, by the time it “expires,” I’ll be a fossil with one foot in the grave and other one “off-balance” so it won’t matter anymore :-0
bearishgurl
Participant[quote=CA renter]Tell me about it, BG. The debtors we’re fighting drive much newer, fancier cars than we do. One is an Audi. :([/quote]
What galls me is the appointed trustees for both Chapter 7 and Chapter 13 debtors are so overwhelmed with debtor “clients” that they have to ask the debtors in court stupid questions such as “What is the status of your mortgage(s).” Since Notices of Default and Notices of Sale are public record, they should only ask that question if there is no public record and also no public record of cash-out refi, 2nd TDs and 3rd TD’s, etc. If there is clear evidence of a debtor’s cash out and HELOCing, they need to put these debtors on the spot and ask pointed questions of the debtor while they have them (and the judge) in the same room. The majority of these individual debtors don’t have attorneys and have just filed their own BK or had a paralegal service do it.
bearishgurl
Participant[quote=CA renter][quote=livinincali]
From a slightly different perspective the FHA has a default rate of about 9-10% right now. If the FHA has 1 trillion in guaranteed loans, then you’re probably looking at 100 billion in potential losses. The odd thing about FHA defaults is we should see those in default foreclosed through HUD but there’s nothing coming out of HUD. Is the government just going to let people squat without paying and artificially reduce inventory? You bet. Good luck seeing any foreclosure inventory in the future. The government/FHA controls whether or not it will happen directly.[/quote]
Just interesting anecdotal stuff, but we’re creditors in a BK proceeding (fighting the BK), so I’ve been spending quite a bit of time listening to a lot of cases. You’d be surprised (or not) at how many times the BK trustee asks about the status of the debtors’ mortgages, and how many people haven’t paid in **years** (IIRC, the longest was five years) and have yet to be foreclosed on. In some cases, they are claiming to not have received default notices![/quote]
Yes, CAR, it’s mighty interesting in there . . . ESP the motion hgs. The debtor individuals and couples who come into court are often wearing paint-splattered clothes and torn up work boots or look like they stepped straight out of a Goodwill bin. Then you leave after them and follow them to the parking meters where they enter their late-model Bimmer and take off. You know . . . the one that they have petitioned to “reaffirm.” :=0
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