When I sell it in a year, my bank account will be thanking me
My buddy Mikes parents were straight off the boat. His mom was a very kind woman. Polite, petite, and an amazing cook. Till his cousin Gino walked right in and sat down and put his feet up on the table.
She beat his ass all the way out the door and down the driveway. The thing is, he absolutely knew better. His house was the exact same way.
If youâre 62 and only have 167k, youâre screwed financiallyâŠ
Thanks, Zep
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Not at the sight of an unexpected 1000 bill youâre not. Not by a country mile.
Edit: hell even if thatâs all you have in your 401k, thatâs not touching life insurance, other retirement forms, part time jobs, etcetc.
Every single member in my familyâs entire history on both sides has happily breezed through old age with a HELL of a lot less
Kiddo just did a round of shots today. First day of kindergarten next week!
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Didnât you say parts of your family was on permanent public assistance anyway? My grandparents worked their whole lives but werenât good with money. I wouldnât call their experience on SS breezing.
I think @anon50325502 's point was that at a 4% safe withdrawal rate $167k gets you $6,680/year. Not much even if youâre on rice and beans.
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Unless you plan on dying in like 5 years, youâre in trouble financially.
The vast majority of them yeah. But my familyâs never had a lot of âwantsâ and with all their flaws the vast majority of them donât live at their means ala Murica. My grandparents live in a 900 sqft home with a storm cellar. A good bit of the meat they eat is game that he hunts with friends and they clean and part.
Edit: Plus to my knowledge non of my family down there is currently a heroin addict. That pretty much makes my last name elitist down there these days. Not so bad
Which I totally get. But my comment was made irt âmost Americans couldnât swing 1000 in an emergencyâ as being utterly false.
Nah it just means you become a Walmart greeter or swing disability in some way. Granted those numbers obviously donât make for an ideal retirement. Least not for me
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I can remember very clearly learning about drugs from my grandfather. âDrugs are for losers who canât deal with the choices theyâve made. If I ever hear youâre doing them nobody will find your body.â
Much more effective than any after school PSA
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My dads sage advice when I got busted smoking dope at 15- âI canât believe you got caught. Are you a fucking idiot?â.
Not even going to put in print what Gram said.
edit: By emergency I think they mean a real pinch. Good luck cashing out a retirement account with a broken down car in the middle of nowhere.
I can easily believe that people of any financial strata might be at the edge of their means and canât cough up $1000.00 liquid cash.
That still means someone else will be left holding the bag.
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Thereâs always a greater fool! As long as it isnât 1929 or 2007âŠ
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This is true for the investor who believes he has compelling knowledge to sell an equity to an equal investor who believes he has compellng knowledge to buy.
Agreed, but from a construction standpoint you bought the house thatâs too big for you (granted as an investment) and will be sold down the road to someone whoâll actually want to keep it and for whom it will be too big as well, possibly causing financial ruin.
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Awe, yeah. That article describes my house to a T.
Ironiclaly, when looking for homes in this specific area, you cannot find a home ~1300-1800 Sq. Ft. that has similar amenities for a house built in the last 10 years.
In what capacity do you work in the Construction field?
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We just donât learn real good.
Plus its 10 years later. Thereâs a whole new crop of medium-high earners with relatively good credit that really want to believe that they can afford that big house.
Just give them enough rope.
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Civil engineer, now selling to a rich, mostly Russian clientele their dream vacation homes. Actually, renovating and refurbishing old villas that magically become their dream homes, thus ensuring their imminent financial ruin. Itâs a revenge for having been pivotal in spreading communism.
Theyâve been conditioned by society to want to buy that big house. Whereâs all that money theyâre earning supposed to go if not for mortgage payments?
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I dunno. Iâm a bit too simple for those sophisticated financial strategies. If I wanted to ruin everything and start from scratch Iâd just start doing coke again.
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Right. Itâs actually the ONLY thing that can be considered healthy. I sell it to Zep all the time.
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