A high mortgage rate with a small principle opens up the opportunity to make a very significant dent with your down payment, doesn’t it? Done properly, wouldn’t that be preferable in comparison to inflated prices and a low mortgage rate in most cases? Genuinely curious.
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05-17-2021, 06:58 AM #61I've been seeing the past in one eye and the present in the other. So, I thought I could only see patches of reality, never the whole picture. I felt like I was watching a dream I could never wake up from. Before I knew it, the dream was over.
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05-17-2021, 07:01 AM #62
Destitute in more than money - IQ for one. But there are safe levels of blame and cope.
Technology has made nearly every facet seamless. People may have had more earning power in the past in relation to cost of living but it took a lot more effort.
#paymyloansEoR is powered by unique Nanomolecular Hyperdispersion Technology. Giving him high bioavailability and myocellular saturation.
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05-17-2021, 07:04 AM #63
I have two friends that are professors...There would be a riot if people REALLY knew how the insanely high tuition was being spent.
Most professors teach one or two classes each semester because the school wants them to publish articles/papers. My buddy flies around the world on the students dime drinking beer and writing books about beer which he in turn sells. He also writes text books that the students tuitions fund only to turn around and sell them back to the students that are forced to buy these books via the university curriculum. He also spends millions of students dollars a year on satellite time and computer hardware for his environment impact studies that he gets published that have virtually zero value/benefit to the students.
He told me the school could easily get rid of 80% of the professors and reduce tuition by 80% if they simply focused on teaching students. He said if an actual accounting of the expenditures was published for the students to see where their money was being spent, there would be an immediate riot.
You cant be mad at the boomers for college tuition. There should be general accounting and public outrage at how Public universities are manage.
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05-17-2021, 07:07 AM #64
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05-17-2021, 07:08 AM #65
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05-17-2021, 07:10 AM #66
- Join Date: Jul 2013
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Ehhhhhhhh.
That first chart is a percentage of national wealth, and conceals the fact that national wealth has increased several times over over the same time period.
Millenials are probably out-earning boomers at the same age, even adjusted for buying power. They just spend a lot more, and not just on avocado toast.
When I was a kid, we went to Six Flags overnight by car, 100 miles away. Then you had Disney Moms who flew their kids to Orlando every single year. Now Millenials sit on the beach in Crete without kids.Nah, fukk that. I’m not doing that.
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05-17-2021, 07:14 AM #67
Multi-faceted problem.
Starts with poor education system that doesn't equip kids for adult life and then pushes higher education with no focus as a must to succeed. Then government backs students loans and you get colleges raise college costs exorbitantly. So you get uneducated youth population, going far into debt for a useless degree.
Older generations not retiring when they should and staying in the workforce. To be fair, a lot of them in my workplace seem to be paying for their adult kids and/or raising their grandkids and can't afford to retire due to that unexpected turn of events.
Add in growing up as nothing more than a consumer. Got to have the shiniest toys and spend, spend, spend. Used to be known as "keeping up with the Jones'", but referred to career professionals. Now younger people are living that lifestyle and it is killing them.
Throw in victim mentality.
Add in the expectation to be able to live a high-lifestyle immediately without any self-sacrifice. I deserve that 2500 sq ft home with custom built everything. I deserve that $30k bmw in my 20's.
Desire to be a multi-millionaire or nothing at all.
Not understanding that you can be happy without a huge salary, but it doesn't happen overnight and requires sacrifice early in life.
I joined the military when I saw the amount of college loans accruing. Bought a small (less then 900 sq ft) condo and lived off of peanut butter sandwiches/ramen/potatoes (i.e. low cost) and saved, saved, saved. Never had the most expensive anything, used car, small tv, cheap phone, didn't go on a honeymoon, first vacation wasn't until I was in my 30's. Served my military time, learned a trade, made contacts. Got out, got an entry level job, worked hard, went to night school and continued to save. Received promotions increased salary, still driving hoop-de truck and living lean. Made smart investments, continued to receive promotions/raises. While we now live more comfortable, I still have a cheap phone, drive the same beat up truck, and aim to save/invest most of my pay. I started out with 15k debt (college), no college degree, no workforce experience, nothing more to my name.Freedom of speech is a principle pillar of a free government; when this support is taken away, the constitution of a free society is dissolved and tyranny is erected on its ruins.
Benjamin Franklin
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05-17-2021, 07:36 AM #68
I graduated high school in 05 and fell into the "get a degree in ANYTHING and it will benefit you greatly" trap. BUT, I went to CC and then a local university while living at home so that my old man could afford it without me having to take out loans. Graduated in 2010, spent 2 years rotting at chit jobs because recession and overabundance of 20 somethings with useless degrees. Started working in the trades in 2012. Bought my first home in 2016, got married, sold that house then bought another this year and live a very comfortable life (financially speaking). Biggest mistake of all that was wasting 7 years in college and then after rather than going into trades work immediately after high school.
My son is going to be born in a couple of months, momma and I have already started his college fund, BUT it will only be used for that if he actually wants to go, and is working towards a degree that will secure his financial future. Otherwise it goes towards my early retirement.Permabulk/bloatlord Crew
Tradie Crew
HTC
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05-17-2021, 07:42 AM #69
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05-17-2021, 07:43 AM #70
Not bragging. Showing that you don't have to be the poorest generation. It just requires sacrifice and work. That's how people used to live and why simply blaming past generations isn't fair.
The benefit is living comfortably in your late 30s, living really comfortable in your 40s-50s, and not worrying over much on retirement later in life. I will be able retire in a couple years mid-40's (assuming everything doesn't go to complete crap in the country which is no safe bet now) and just do what I enjoy. I have no regrets.
If you want to live life to the fullest, live paycheck to paycheck, in your 20s, good on you. Live your best life.Freedom of speech is a principle pillar of a free government; when this support is taken away, the constitution of a free society is dissolved and tyranny is erected on its ruins.
Benjamin Franklin
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05-17-2021, 07:46 AM #71
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05-17-2021, 07:53 AM #72
My parents bought their house 20 years ago.
My dad was making 100k as the owner of a small carpet shop, my mom was making 50k in insurance. 20 years later my dad is still making 100k and my mom is making 65k.
The house has gone from being worth 500k to 950k.
20 years ago the owner of a small carpet shop married to a woman making 50k in insurance could comfortably afford a single family home in a safe suburb with good schools.
Not the cases anymore. Millennials are gonna be ****ed
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05-17-2021, 08:00 AM #73
Boomers are entitled kunts and so are the majority of their kids (my generation). Boomers feel entitled to drive luxury cars and live in mcmansions. Millennials feel entitled to craft beer, craft food, and travel. Both generations are full of kunts imo. The last great generation were our grandparents. Most of them grew up in the great depression and had to struggle. Every generation since hasn't really had to struggle much to get by.
This fool's running a Honda 2000
O|||||||O Misc Jeep Crew O|||||||O
30 Year Old Boomer Crew
Just lol at officels *Tradie Crew*
Grumpy Old Married Guy Crew
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05-17-2021, 08:09 AM #74
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05-17-2021, 08:17 AM #75
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05-17-2021, 08:32 AM #76
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05-17-2021, 08:37 AM #77
A good chunk of the population aren’t going to be able to afford to max out their 401k every year in their 20’s. The average household (meaning more than one) income in the USA is $65k. If the average household income were to max out their 401k contribution they would be living pretty poorly after tax. Not to mention maxing out your 401k should only occur after other investments have been made first.Pureblood
¡Viva Cristo Rey!
Он не человек, он как кусок железа
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05-17-2021, 08:46 AM #78
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05-17-2021, 08:50 AM #79
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05-17-2021, 08:51 AM #80
Yeah, in my 20’s it was a slow build up. Most of my investments were growing mainly from contributions. In my 30’s, those investments are starting to take off.
Same for career wise, started off working an entry level position in the recession, had to deal with a lot of bull**** along the way, with most salary jumps coming from job hopping every one to two years. Now, it’s more settled and making a lot more money than back then.
There’s a lot a person in their 20’s can be doing to save, invest, and still have a lot of fun. It’s just takes being prudent.Pureblood
¡Viva Cristo Rey!
Он не человек, он как кусок железа
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05-17-2021, 08:53 AM #81
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05-17-2021, 09:02 AM #82
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05-17-2021, 09:04 AM #83
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05-17-2021, 09:08 AM #84
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05-17-2021, 09:18 AM #85
College is a problem because the discussion revolves around how to get in and pay for it rather than getting the best return.
Earning some credits at a community college is much cheaper than at a university. Unless a scholarship or grant is involved, it makes no sense to overpay for gen-ed credits.
University programs need to be judged on their ability to get students internships and hired after graduating. If there isn't a line of employers trying to recruit graduates, the program sucks.HVM + LTC + Rwdogger = AP3 Crew
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05-17-2021, 09:25 AM #86
Its easier then ever to make a high income/become rich. Look at how many teenagers are literally millionaires due to the internet/social media.
You think boomers had those opportunities
Fast forward 80 years and millennials will be the richest generation alive and whatever upstart under 30s will be whining about how hard they have it.
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05-17-2021, 09:27 AM #87
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05-17-2021, 09:28 AM #88
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05-17-2021, 09:29 AM #89
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05-17-2021, 09:39 AM #90
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