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re: How will young people ever get ahead?
Posted on 5/3/23 at 12:25 pm to Allthatfades
Posted on 5/3/23 at 12:25 pm to Allthatfades
Some of us survived Jimmy Carter's Misery Index era and still managed to work out of that period of Democrat induced economic hardship.
Hopefully, the American people will find a way to set those idiots aside and fiscal sanity will spur a recovery.
Otherwise, expect to live in a "socialist utopia" where the Big Brother crowd will issue what they think you need rather than you earning what you want.
Hopefully, the American people will find a way to set those idiots aside and fiscal sanity will spur a recovery.
Otherwise, expect to live in a "socialist utopia" where the Big Brother crowd will issue what they think you need rather than you earning what you want.
1
Posted on 5/3/23 at 12:25 pm to JohnnyKilroy
quote:
A car you should pay cash for....even a 10+ year old pos will cost you 10k these days. Where you getting the 10k liquid in this little scenario? Like many things on the OT, the 2k beater than everyone thinks you should buy is really like 8k with 2k plus in deferred maintenance.
I still think you could do better, but let’s go with it. So, you take a note on $10k and work to pay it off as soon as you can. It seems like every person around here just wants to throw up their hands and say “well, it’s either borrow 25-50k for a car or walk everywhere.”
That’s just simply not true. Not to mention the fact that everyone is pretending like kids walk out of college on their last day like a prisoner who just got released, with nothing but the shirt on their backs. When you graduate college, you probably have a car, and you should drive it until the wheels fall off. Remember, we are talking about “getting ahead” here, not digging the hole deeper by buying something that you don’t need.
If you want to own a 50k car in a way that won’t cripple you financially, you have to give up things to get there. Math doesn’t change just because you feel like you deserve something. But, in situations like this, people usually just want something shiny, and are looking for someone else to tell them that it’s ok to make a bad decision.
Posted on 5/3/23 at 12:26 pm to Sun God
Roger abandoned the thread when he realized he was completely contradicting himself left and right.
And we have some idiot responding to guachos diarrhea
And we have some idiot responding to guachos diarrhea
Posted on 5/3/23 at 12:27 pm to 777Tiger
quote:
well, it is lunchtime
yea thats what people need to see at lunch....two old fricking has beens rolling around on the ground......might as well go watch bum fights on youtube or film us fighting...be about the same.
Posted on 5/3/23 at 12:29 pm to LSUFanHouston
quote:
1) Where did you go to college? How was it paid for? 2) What help did your family give you in getting started in life / in business?
1) Mississippi College, took out student loans and had scholarships. Working for the Government I had the option to have an allowance for student loan payback. At the end of 4 years, i was debt free and left DC.
2) I used my 401k, my savings and took out a LOC of 50k to start my business.
Posted on 5/3/23 at 12:29 pm to CaptSpaulding
quote:
When you graduate college, you probably have a car, and you should drive it until the wheels fall off.
That was likely given to them by their parents and/or purchased with debt.
Posted on 5/3/23 at 12:29 pm to lsu777
quote:
put 5% in 401k and factor 125 for insurance. leaves roughly 3775 monthly.
drive the paid off car, live with roommate for 1k/month in total expenses and put 500/ month towards loan even 750.
You're severely underestimating health insurance, and not factoring in car insurance. An HSA plan might be $150 biweekly, so $300 a month. And you still have to fund the HSA.
Posted on 5/3/23 at 12:31 pm to Allthatfades
Stupid boomer fricks in charge in the government are enabling this and you cannot convince me otherwise. Younger generation doesn’t stand a chance.
Posted on 5/3/23 at 12:31 pm to dcrews
quote:
The people who work hard and have a team player mentality are the ones who have the most work dumped on them and get burnt out due to going above and beyond every hour of every day. Then employers can't understand why their 3% raise and a quarterly pizza party isn't sufficient to keep you happy.
This baw public accounts.
Posted on 5/3/23 at 12:31 pm to lsu777
quote:
.might as well go watch bum fights on youtube or film us fighting...be about the same.
that sounds like a lot of work, why don't we just go watch some midget rasslin' tonight? beer's on me
Posted on 5/3/23 at 12:31 pm to KamaCausey_LSU
quote:
Average is a shite statistic when looking at population wide data sets. The nationwide median is the significant value here, and it is $47,000.
So what? An $8k difference? I think you could argue that since we’re talking college graduates the numbers would skew to the low end as you don’t get much more than $100k fresh out of school regardless of what you do…..but there are probably a shite load of $20k’s in there from worthless degrees.
To that point both avg and median are useless as it captures people that also made dumbass decisions in their career/major choices.
Everyone I knew had one goal - learn something marketable to get a good job and get the duck out in their own. We didn’t have time nor the inclination to get degrees in useless shite.
If somebody wants to be a history or speech major more power to them….just don’t be surprised if you have trouble earning a living.
On a side note, college is bullshite today so I’m encouraging my kids to take two years of business basics at CC and then bust their arse in the trades. If I had to do it over that’s what I’d do. Owning your own business should be the goal and that seems to be the best route for somebody young. AI is never going to pour your footing or install your HVAC.
This post was edited on 5/3/23 at 12:40 pm
Posted on 5/3/23 at 12:33 pm to BluegrassBelle
quote:
Which may as well be $30k if you’re actually paying in your student loans.
you took the loan. You weren't forced into it.
Posted on 5/3/23 at 12:35 pm to tigerinthebueche
quote:
you took the loan. You weren't forced into it.
this, everyone seems to act like the mob strong armed them into saddling themselves with this debt
Posted on 5/3/23 at 12:37 pm to DCtiger1
quote:
1) Mississippi College, took out student loans and had scholarships. Working for the Government I had the option to have an allowance for student loan payback. At the end of 4 years, i was debt free and left DC.
Looks like their tuition is currently 20K a year plus living expenses. So 80K over 4 years. If you were able to pay off all your loans in 4 years, I'm guessing you didn't much loan debt... which means most of that came from scholarships. That's awesome... clearly you are smart or talented in some way to get most of your college paid for.
quote:
2) I used my 401k, my savings and took out a LOC of 50k to start my business
Cool. How did you pay for housing? Did you have a car note?
Maybe you are that 1 person in 1,000 that truly started with nothing and quickly found a way to success, and if you are, congrats, unicorn.
Most people who say they do... when you look back... got an awful lot of help along the way.
Posted on 5/3/23 at 12:38 pm to tiggerthetooth
quote:
Depopulation is the main goal.
Nope, eliminating the middle class is the goal. Corporate monarchies are just replacing traditional monarchies.
Posted on 5/3/23 at 12:38 pm to stout
quote:
A serious issue I see is that younger people buying houses is they all want a newer house right from the start. Not a lot of them are willing to buy a fixer-upper and put in some sweat equity. Housing is still the greatest wealth builder for the middle class but there are steps to it.
Used to you would buy the starter home, fix it up and build equity, then move 5-10 years later into something else. Rinse and repeat a few times until you get to the bigger house.
just for the sake of discussion, what would you consider the cost of a starter home in 2023?
cause i can get an apartment in sunnyside houston for 120, i might not live to pay it off but i can do that. There is full tear downs going for 180k in the absolute hood.
Posted on 5/3/23 at 12:38 pm to PaperPaintball92
quote:
Inheritance is our only chance.
Don’t count on it, son!
Posted on 5/3/23 at 12:39 pm to 777Tiger
quote:
this, everyone seems to act like the mob strong armed them into saddling themselves with this debt
Funny how these conversations never discuss the alternative.
1) Join the military
2) Not go to college
That's kind of it, unless you have someone willing to foot the bill for you, or you get a scholarship.
Posted on 5/3/23 at 12:42 pm to LSUFanHouston
The questions to ask are.
Where did you grow up, specific neighborhood?
What elementary and high school did you go to?
Did you have a car on your way to college?
Where did you live while in college and who paid for that?
Did you actually have any bills in college?
That's the true leg up over most people. Oh, and having two parents there in your life
Where did you grow up, specific neighborhood?
What elementary and high school did you go to?
Did you have a car on your way to college?
Where did you live while in college and who paid for that?
Did you actually have any bills in college?
That's the true leg up over most people. Oh, and having two parents there in your life
Posted on 5/3/23 at 12:42 pm to LSUFanHouston
quote:
got an awful lot of help along the way.
Ahh, the old you didn't build that bullshite.
I had 25K in Student Loan Debt which was fully paid off over 4 years.
Your response is full of excuses. It's like the customers that complain that I drive a corvette. No one is stopping ANYONE from striking out on their own. Instead, envy and resentment set in, and the victim mentality is passed on from generation to generation.
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