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meadandale
ParticipantDon’t get me started on SS. I’d be happy if they kicked it and medicare to the curb and either replaced it with nothing or replaced it with private pension-like accounts.
I think of all the money I’ve given to SS and medicare and how big of a nest egg I’d have now if I was able to privately invest that money.
Hell, I could pay my mom’s SS benefits AND fund a nice retirement on the money that I’ve paid into the system.
What do you expect when you have a giant government sponsored ponzi scheme?
However, it’s not SS and medicare that are really the problem. It’s the city/county/state/federal employees themselves that are going to bankrupt this country. Mark my words, within 10-15 years, more than half of the general funds of cities, counties and states are going to be going to pay for current and future retirement benefits for their employees while services continue to degrade and they continue to tell you that “your taxes aren’t high enough, you need to pay more”.
New Zealand’s gonna be looking pretty good about then.
ParticipantIt’s ironic that many of the 1) businesses that you are employed by and/or provide your goods and services, 2) houses that you are coveting and 3) infrastructure that you enjoy (roads, bridges, parks) were actually built by the baby boomer’s that you are vilifying.
It’s as if you are saying “thanks for everything you did but if you’d just move along now that’d be great”.
ParticipantIt’s ironic that many of the 1) businesses that you are employed by and/or provide your goods and services, 2) houses that you are coveting and 3) infrastructure that you enjoy (roads, bridges, parks) were actually built by the baby boomer’s that you are vilifying.
It’s as if you are saying “thanks for everything you did but if you’d just move along now that’d be great”.
Participant“Read the thread before you post retarded comments.”
Oh, you mean like this part:
“Meadandale, I can only assume that you are a member of Generation Greed (i.e. Baby Boomers).”
“Clearly, your grad school education didn’t pay off.”
When all else fails and you can’t support your argument with facts, make an ad hominem attack to divert attention. LOL
Participant“Read the thread before you post retarded comments.”
Oh, you mean like this part:
“Meadandale, I can only assume that you are a member of Generation Greed (i.e. Baby Boomers).”
“Clearly, your grad school education didn’t pay off.”
When all else fails and you can’t support your argument with facts, make an ad hominem attack to divert attention. LOL
Participant“If you were born in 1967 you are as Gen-X as they come.”
Construction said I was a Baby Boomer. Clearly I’m not, even according to you.
Participant“If you were born in 1967 you are as Gen-X as they come.”
Construction said I was a Baby Boomer. Clearly I’m not, even according to you.
Participant“Meadandale, I can only assume that you are a member of Generation Greed (i.e. Baby Boomers).”
You assume incorrectly. I was born in 1967 which was several years beyond the recognized ‘baby boom’ period.
http://en.wikipedia.org/wiki/Baby_boomers
“How much was the average 4 year college when you were 18?”
I went to a UC school and tuition PER QUARTER was about $500. Of course, the minimum wage was about $3.35 and I had a job earning a measly $6/hr.
“How much was the average starter home when you got out of college?”
I wouldn’t know since I didn’t buy one but you could have probably bought a home in 1990 for about $140k give or take.
“How many banks/credit institutions specifically marketed to you everyday while you were in High School and College?”
High School? None. But there were credit card tables ALL OVER school giving away crap for signing up. Also, damn near every text book I bought had credit card offers falling out of them and the cashiers made sure to stuff another handful in the bag on your way out the door.
“How many Best Buys, Wal-Marts, Shopping Malls, etc. were located in your neighborhood growing up?”
Malls? Plenty. Best Buy wasn’t around then nor was Wallie World. I grew up in a somewhat rural area in central california so there weren’t big stores anywhere near my house (there still aren’t in the area where I lived). However, Price Club (now Costco) and Sam’s Club (now Walmart) were all over the place in the cities.
What’s your point? I too had debt when I graduated from college and I worked throughout school and got WIDELY available Cal Grants and other scholarships. I only made about $30k/year for a decade after college (throughout the Clinton years, I might add). I never owned a new car, I never bought thousands and thousands of dollars of crap I couldn’t afford and I never blamed my situation on anybody but myself. When I turned 30, I went back to graduate school (which I paid for, BTW) cause I was sick of being poor.
The bottom line is that you are blaming your lot in life on everyone but yourself. My parents were part of the ‘greatest generation’ and taught me to work hard. Your parents are the very baby boomers that you are denouncing and taught you that how you feel is more important than what you do. The results are obvious.
Participant“Meadandale, I can only assume that you are a member of Generation Greed (i.e. Baby Boomers).”
You assume incorrectly. I was born in 1967 which was several years beyond the recognized ‘baby boom’ period.
http://en.wikipedia.org/wiki/Baby_boomers
“How much was the average 4 year college when you were 18?”
I went to a UC school and tuition PER QUARTER was about $500. Of course, the minimum wage was about $3.35 and I had a job earning a measly $6/hr.
“How much was the average starter home when you got out of college?”
I wouldn’t know since I didn’t buy one but you could have probably bought a home in 1990 for about $140k give or take.
“How many banks/credit institutions specifically marketed to you everyday while you were in High School and College?”
High School? None. But there were credit card tables ALL OVER school giving away crap for signing up. Also, damn near every text book I bought had credit card offers falling out of them and the cashiers made sure to stuff another handful in the bag on your way out the door.
“How many Best Buys, Wal-Marts, Shopping Malls, etc. were located in your neighborhood growing up?”
Malls? Plenty. Best Buy wasn’t around then nor was Wallie World. I grew up in a somewhat rural area in central california so there weren’t big stores anywhere near my house (there still aren’t in the area where I lived). However, Price Club (now Costco) and Sam’s Club (now Walmart) were all over the place in the cities.
What’s your point? I too had debt when I graduated from college and I worked throughout school and got WIDELY available Cal Grants and other scholarships. I only made about $30k/year for a decade after college (throughout the Clinton years, I might add). I never owned a new car, I never bought thousands and thousands of dollars of crap I couldn’t afford and I never blamed my situation on anybody but myself. When I turned 30, I went back to graduate school (which I paid for, BTW) cause I was sick of being poor.
The bottom line is that you are blaming your lot in life on everyone but yourself. My parents were part of the ‘greatest generation’ and taught me to work hard. Your parents are the very baby boomers that you are denouncing and taught you that how you feel is more important than what you do. The results are obvious.
ParticipantWow, greedy baby boomers are the cause of all your woes…
I guess that’s why I see gen X’rs driving BMW’s while working at starbucks, buying 65″ big screen tv’s when they are earning $30k/year, taking european summer vacations from college instead of getting a job cause they can ‘only’ make $12-15/hour. They are carrying the country on their backs LOL
Gen X, as a group, has one of the worst work ethics in the history of our country. Perhaps because they were given everything while being expected to do nothing by the very Baby boomers that were their parents.
LOL, thanks for the morning laugh.
ParticipantWow, greedy baby boomers are the cause of all your woes…
I guess that’s why I see gen X’rs driving BMW’s while working at starbucks, buying 65″ big screen tv’s when they are earning $30k/year, taking european summer vacations from college instead of getting a job cause they can ‘only’ make $12-15/hour. They are carrying the country on their backs LOL
Gen X, as a group, has one of the worst work ethics in the history of our country. Perhaps because they were given everything while being expected to do nothing by the very Baby boomers that were their parents.
LOL, thanks for the morning laugh.
ParticipantWell, a couple of things.
You are paying too much in rent. You probably need to find something about 400-500 month cheaper.
You are paying an awful lot in gas. I have a gas guzzler and drive 17 miles one way to work. Even so, I only usually fill up about once every 10 days. Perhaps you should live closer to where you work (since you are renting you have that option)?
You are tithing 10% and saving nothing for yourself. Charity is great if you are taking care of yourself first. Otherwise, you are gonna be on the receiving end in 30 or 40 years. Cut your tithing in half and save that money for retirement.
You are likely paying too much for car insurance. I pay just over $900/year for a near new car. You are paying $3k. You should be able to find insurance for 2 cars under $2k/year.
$800/month seems like an awful lot for groceries, even for a family of 3.
$600/month on outstanding debt of $15k is awfully high (unless you are making extra principal payments).
FWIW, I was making about as much as you a few years ago and paying the mortgage on a $370k house and payments on a new car. However, I have 0 in credit card debt (although I was paying $50/month on a student loan at the time).
Home equity lines? Nope
Credit card payments? Nope
Furniture payments? Nope
Child Support? NopeI pay cash for everything. The credit card only leaves my wallet once a year to make the bank happy (or they charge me a $30 fee) and is there for catastrophic emergencies. If I don’t have the cash, I don’t buy it–it’s that simple.
ParticipantWell, a couple of things.
You are paying too much in rent. You probably need to find something about 400-500 month cheaper.
You are paying an awful lot in gas. I have a gas guzzler and drive 17 miles one way to work. Even so, I only usually fill up about once every 10 days. Perhaps you should live closer to where you work (since you are renting you have that option)?
You are tithing 10% and saving nothing for yourself. Charity is great if you are taking care of yourself first. Otherwise, you are gonna be on the receiving end in 30 or 40 years. Cut your tithing in half and save that money for retirement.
You are likely paying too much for car insurance. I pay just over $900/year for a near new car. You are paying $3k. You should be able to find insurance for 2 cars under $2k/year.
$800/month seems like an awful lot for groceries, even for a family of 3.
$600/month on outstanding debt of $15k is awfully high (unless you are making extra principal payments).
FWIW, I was making about as much as you a few years ago and paying the mortgage on a $370k house and payments on a new car. However, I have 0 in credit card debt (although I was paying $50/month on a student loan at the time).
Home equity lines? Nope
Credit card payments? Nope
Furniture payments? Nope
Child Support? NopeI pay cash for everything. The credit card only leaves my wallet once a year to make the bank happy (or they charge me a $30 fee) and is there for catastrophic emergencies. If I don’t have the cash, I don’t buy it–it’s that simple.
Participant“Not true. Anyone who has heard housing analysis but buys right now at peak prices thinking they are going to make money in the next couple of years is dumb or stupid. ”
It is worth noting that a friend of mine who I tried to steer to this site (I doubt he ever even made it over) just bought a house in 4S (I posted about this a week ago).
No matter how much I might try to sway his decision, he ended up buying and paid almost 100% of the asking price in spite of the fact that recent comps for larger houses in the same neighborhood were 60-80k lower than the list price.
He sent me this little gem:
“We stopped at 700K plus some seller credit cash. It all works out to a
favorable position for us and them that also keeps the comps good in the
neighborhood. When you buy your upgrade house, don’t try to be cheap,
because you also need to consider the comps in the neighborhood. If we had
gotten down to 680K, then all of the homes in the are would have gone down
too. That would have made our floor value much more unstable. As it is,
none of the homes have resold for an unfavorable equity position yet.”Note that my friend is a smart guy (he actually IS a rocket scientist) but the gist of his argument here was “overpay for your house cause it keeps the comps up”.
Trust me, there’s plenty of suckers out there still….
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