Mortgage is an absolute must, but once that's gone, what else is there? Cheap property taxes, utilities, and food, that's like $1500/month at most. Rent a room or get a duplex and your monthly expenses is $0? Only thing I keep forgetting about is healthcare
Assuming you have an indemand skill, you could work part time, like 3 days a week.
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05-16-2024, 05:50 PM #1
I think the quickest way out of wageslaving is paying off your house.
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05-16-2024, 05:50 PM #2
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05-16-2024, 05:57 PM #3
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05-16-2024, 05:59 PM #4
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05-16-2024, 06:01 PM #5
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05-16-2024, 06:13 PM #6
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05-16-2024, 06:16 PM #7
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You’re thinking too narrowly
“Way out of” implies you currently are in the rat race
The way out, as you acknowledge, is through capital
If you don’t have sufficient of your own capital, you need to borrow it or get investors to contribute equity
Your post indicates you’ve learned nothing from the last few years but: if you can borrow money at less than the rate at which that money is devaluing that is free moneyBy reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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05-16-2024, 06:18 PM #8
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05-16-2024, 06:20 PM #9
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05-16-2024, 06:21 PM #10
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The sad thing is, the misc is actually a good place to get other perspectives on this and other issues.
I remember 12 or so years ago I joined, and it really changed my attitude about what was possible. I already had a strong grounding in neoclassical economic theory, quantitative economics and financial markets, but misc really helped. Especially with motivation. Not even being facetious.By reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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05-16-2024, 06:29 PM #11
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05-16-2024, 07:02 PM #12
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05-16-2024, 07:04 PM #13
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05-16-2024, 07:14 PM #14
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05-16-2024, 07:17 PM #15
If you have a $600k house and let's say half of it is paid off to this point 15 years into your 30 year mortgage. You magically have $300k fall into your lap. You think it's better to pay off your mortgage than it would be to invest that $300k (through any number of investments strategies for that matter)?
This is why you're poor. There's a lot of richcels out there who have mortgages because they understand net present value unlike your peasant ass. Stay poor.
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05-16-2024, 07:29 PM #16
If you need to "buy and pay off a house" to teach yourself "discipline/financial responsibility"...
Thank for outing yourself as yet another low socioeconomic peasant.
Fuark, don't overwhelm their tiny brains.
That's old misc though - now we have a bunch of whiners who can't stop whining about how unfair life is instead of getting off their ass and doing something about it.
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05-16-2024, 07:32 PM #17
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05-16-2024, 08:27 PM #18
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I think the thing about the old misc was that there was a genuine sense of willingness to learn from others in the interests of self improvement.
Now it’s a case of “I’m skinny fat/incel/poor” or whatever, but don’t you dare give me advice on how to fix this, you should agree with me that it’s not my fault!
Feminine mindset tbhBy reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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05-16-2024, 08:28 PM #19
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05-16-2024, 08:30 PM #20
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05-16-2024, 08:30 PM #21
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05-16-2024, 08:33 PM #22
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05-16-2024, 08:39 PM #23
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05-16-2024, 08:47 PM #24
i like this movie i rencently saw where a father and daughter live in one of those hippy looking westfalia vans and just drive around the country chillin, talking, listening to music, looking at cool views, meeting new people, etc. the dad would do handyman jobs wherever they were. from the outside seemed like a quaint/freeing way of life compared to being mired in responsibility/possessions/schedules, etc.
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05-16-2024, 09:09 PM #25
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if your interest rate is 3% for your house and a bond gives you 5%...
do you
a) pay off the house
b) stay in debtSniff hard as fuk when guys pass by to smell their balls crew
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05-16-2024, 09:14 PM #26
If you aren't leveraging the equity in your principle residence, you're a fool.
Your home equity is dead money. It may provide peace of mind for today but it is robbing you of tomorrow's comfort2022 Option Trading Realized Gains: $125,348 USD
2023 Goal: $140,000
2023 Option Trading Realized Gains: $142,035 USD
2024 Goal: $80,000
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05-16-2024, 09:16 PM #27
what if you're already comfortable?
i think a lot of the dave ramsey type advice (heard someone say he's ok with a 15 yr mortgage at a certain percentage of income) is a combination of prudent advice with a bit of human psychology mixed in. people that go that way have likely already tried managing debt, but they just couldn't handle it. this is probably a large chunk of people...now you could just throw rocks at them, call them stupid and say eat a dink you idiot, but instead he offers a wholesale change of their worldview...pay off debt, buy something pay cash. easy to understand and while maybe not offering the best returns...helps a greater number of people overall with almost no risk of messing up if you do it. if they buy into this philosophy and impart it upon their children...they'll probably be ok in life too.Last edited by eddiehaskell; 05-16-2024 at 09:31 PM.
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05-16-2024, 09:42 PM #28
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I disagree. There's no reason to pay off a house too quickly. What's better is living in the house a bit then buying a second home as an investment property and getting rental income.
The extra money you use to pay off your house can be invested in the S&P500 which historically has always had a positive return on investment. Compound interest.
That money can be invested in other things too, S&P500 is just an example.
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05-16-2024, 09:44 PM #29
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05-16-2024, 09:47 PM #30
HEALTHCARE is EXACTLY why the SMART $$$ supports LEADERSHIP like BERNIE/AOC who advocate for the SAME BIG GOV HEALTHCARE for Americans as enjoyed by citizens of other FIRST WORLD NATIONS
bet if you add up all the various Taxes(income/property/sales) + INSURANCE + OUT OF POCKET EXPENSE, Americans probably PAY MORE than those Euro Socialists who get a BETTER TAX ROI!
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