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Getbig Main Boards => Gossip & Opinions => Topic started by: Kwon on October 11, 2020, 10:48:16 AM
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https://highline.huffingtonpost.com/articles/en/poor-millennials-print
Like everyone in my generation, I am finding it increasingly difficult not to be scared about the future and angry about the past.
I am 35 years old—the oldest millennial, the first millennial—and for a decade now, I’ve been waiting for adulthood to kick in. My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.
We’ve all heard the statistics. More millennials live with their parents than with roommates.
We are delaying partner-marrying and house-buying and kid-having for longer than any previous generation.
And, according to The Olds, our problems are all our fault: We got the wrong degree.
WHAT’S A MILLENNIAL ANYWAY?
Unless otherwise noted, we mean anyone born between 1982 and 2004
(https://highline.huffingtonpost.com/articles/en/poor-millennials-print/media/images/class-of-oh-no.png)
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Poor thing.
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stop whining and start grinding your ass off and working hard, become creative, cut back on stupid expenses and network.
so much money to be made out there in many fields/trades
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https://highline.huffingtonpost.com/articles/en/poor-millennials-print
Like everyone in my generation, I am finding it increasingly difficult not to be scared about the future and angry about the past.
I am 35 years old—the oldest millennial, the first millennial—and for a decade now, I’ve been waiting for adulthood to kick in. My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.
We’ve all heard the statistics. More millennials live with their parents than with roommates.
We are delaying partner-marrying and house-buying and kid-having for longer than any previous generation.
And, according to The Olds, our problems are all our fault: We got the wrong degree.
WHAT’S A MILLENNIAL ANYWAY?
Unless otherwise noted, we mean anyone born between 1982 and 2004
(https://highline.huffingtonpost.com/articles/en/poor-millennials-print/media/images/class-of-oh-no.png)
Let everyone who has ever come in contact with Huffington Post get aggressive rectal cancer.
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Let everyone who has ever come in contact with Huffington Post get aggressive rectal cancer.
Their rectums have already been blown out.
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Their rectums have already been blown out.
;D ;D
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This stinking cunts problem isn’t that he is a millennial it’s because he’s a fucking looser not willing to put in the graft and has the money management skills of a child a side effect of being a pampered piece of shit that had everything easy growing up. Useless twat
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This generation wants everything their parents have........but they don't believe they should have to work for it. :(
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This generation wants everything their parents have........but they don't believe they should have to work for it. :(
Yep, they think their parents left college, got a $100k job, bought a big house and 2 new cars when they were 22 years old.
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This stinking cunts problem isn’t that he is a millennial it’s because he’s a fucking looser not willing to put in the graft and has the money management skills of a child a side effect of being a pampered piece of shit that had everything easy growing up. Useless twat
;D
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Might read that later long read.
Two things I can say without reading it.
1. there's inflation in useless degrees. And people are amassing huge debt they can't pay off because of it.
2. And the infux of globalism and internet. This didn't hurt the boomer generation. They didn't have to compete with chinamen and indians that can do your job for 1/5 the pay.
Also the boomers(worst generation) started the mass immigration from worthless shitholes.
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some sound advice from Sam for the young up and cumers
"don't go to college without making damn sure you are one of the few people that needs to go to college"
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stop whining and start grinding your ass off and working hard, become creative, cut back on stupid expenses and network.
so much money to be made out there in many fields/trades
This.
(https://i.pinimg.com/originals/34/15/f4/3415f402cc0f821a3c2d5bce67a5ee67.gif)
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https://highline.huffingtonpost.com/articles/en/poor-millennials-print
Like everyone in my generation, I am finding it increasingly difficult not to be scared about the future and angry about the past.
I am 35 years old—the oldest millennial, the first millennial—and for a decade now, I’ve been waiting for adulthood to kick in. My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.
We’ve all heard the statistics. More millennials live with their parents than with roommates.
We are delaying partner-marrying and house-buying and kid-having for longer than any previous generation.
And, according to The Olds, our problems are all our fault: We got the wrong degree.
WHAT’S A MILLENNIAL ANYWAY?
Unless otherwise noted, we mean anyone born between 1982 and 2004
Who could have imagined that spending 30k/year on underwater basket weaving wouldn't provide a good ROI?
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Within the next 5 years ... every major city within the USA will have over 30% of its population living in squander similar to the slums of India.
It is already a major problem of little concern within Los Angeles and San Francisco as well as other major US cities.
Anyone wise enough to offer a solution?
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Within the next 5 years ... every major city within the USA will have over 30% of its population living in squander similar to the slums of India.
It is already a major problem of little concern within Los Angeles and San Francisco as well as other major US cities.
Anyone wise enough to offer a solution?
(https://static.tvtropes.org/pmwiki/pub/images/soylent-green-poster_401.jpg)
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Within the next 5 years ... every major city within the USA will have over 30% of its population living in squander similar to the slums of India.
It is already a major problem of little concern within Los Angeles and San Francisco as well as other major US cities.
Anyone wise enough to offer a solution?
Would not surprise me, or even worse. It's already happening.
Deagle has said for years that 2/3 of the US population will be gone by 2025, and the real GDP will go from $19 Trillion to $1.6 trillion.
https://www.deagel.com/country/United%20States%20of%20America (https://www.deagel.com/country/United%20States%20of%20America)
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Strong men create good times, good times create weak men, weak men create bad times, bad times create strong men
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2 idiots and baby - which one is which
(https://static.politico.com/dims4/default/ad6b7fc/2147483647/resize/1920x/quality/90/?url=https%3A%2F%2Fstatic.politico.com%2F74%2F39%2Fcf84f6214d4593308a01125da2e8%2Fap20211502471071.jpg)
Why does the fat turd paint his face orange? It makes him look even dumber.
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This generation wants everything their parents have........but they don't believe they should have to work for it. :(
They are just getting a taste of what is coming. This is the end of the perpetual growth model they have been using. Everything that could be manipulated forward has been since the late 70s. When the easy credit ends is when the standard of living will drop.
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Yep, they think their parents left college, got a $100k job, bought a big house and 2 new cars when they were 22 years old.
Well the boomer f@ggot generation is the generation that started colleges with useless degrees. Telling their children everything will be okay if they get an education. Because it was in their generation.
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Well the boomer f@ggot generation is the generation that started colleges with useless degrees. Telling their children everything will be okay if they get an education. Because it was in their generation.
Yes, even the boomers got useless degrees and ended up in sh*t jobs.
Not all boomers are making huge money. Most with high lifestyles are paying for it by being in debt up to their necks.
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Yes, even the boomers got useless degrees and ended up in sh*t jobs.
Not all boomers are making huge money. Most with high lifestyles are paying for it by being in debt up to their necks.
They where not hit with crazy housing prices like my generation. So they are in far less debt. Most of them who where not dumbasses should have paid off their houses a long time ago by now.
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Yes, even the boomers got useless degrees and ended up in sh*t jobs.
Not all boomers are making huge money. Most with high lifestyles are paying for it by being in debt up to their necks.
But the percentage of boomers who had shit degrees and had jobs was much higher. Inflation was not as bad either... the dollar bought you more goods and services back then.
Most kids today are fucked and they don't realize this until they graduate and the only jobs that are readily available is where they ask: "You want fries with that?"
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They where not hit with crazy housing prices like my generation. So they are in far less debt. Most of them who where not dumbasses should have paid off their houses a long time ago by now.
Almost every one I know during the 2000's housing bubble took out home equity loans. The house became an ATM. Government, economists and MSM pundits had ppl fooled into believing that housing prices never come down.
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Money's not all it's cracked up to be.. You just need enough to do what you wanna do.
Fuck having some huge amount of debt "owning" a few homes or whatever "investment", you just become a slave to it.
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But the percentage of boomers who had shit degrees and had jobs was much higher. Inflation was not as bad either... the dollar bought you more goods and services back then.
Most kids today are fucked and they don't realize this until they graduate and the only jobs that are readily available is where they ask: "You want fries with that?"
Back in the 70s and 80s when I got into the workforce inflation was 15-18% and mortgage rates were 18%.
Inflation has been extremely low for many years in the past couple decades. Housing prices are driven by demand and vary greatly by location.
My first job out of college in a white collar job I made the salary equivalent of $13/hr. today.
You can find many jobs paying that today with no degree.
I lived with 4 other guys in a beat up house for $215/mo. today's dollars.
Drove a beater used car I bought for $1,300.00 equivalent today. Brown-bagged my lunch every day.
Saved all my money and bought my first house (2-family) three years later with a 17.5% mortgage (paid 5 points) and cash of $7,500.
Lived on one side and rented out the other.
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Money's not all it's cracked up to be.. You just need enough to do what you wanna do.
Fuck having some huge amount of debt "owning" a few homes or whatever "investment", you just become a slave to it.
Without money you can't do what you want to do. I would rather own a few rentals and live off that then having a 9-5 boring ass job
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Without money you can't do what you want to do. I would rather own a few rentals and live off that then having a 9-5 boring ass job
I have 3 rentals and while I have been lucky with my tenants being long term and overall great.... most aren't. I know one friend that owns a rental in the same condo that I have one of mine in and he has been stuck with a tenant he can't get rid of for 16 months now. 16 months without being paid a penny. That is 16 months he has had to pay the HOA fees there and infraction penalties and/or damage that his tenant incurs. Once they become squatters, it is a big mess and they never take care of anything once they stop paying. You can use the courts to evict them, but that is money out of your own pockets you will never get back and then the money you have to spend to fix whatever they fucked up out spite before they were escorted out by the sheriff so to speak.
Rentals are a great way to supplement your income, but unless you own dozens, you won't be able to make a living off of them most of the times.
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Within the next 5 years ... every major city within the USA will have over 30% of its population living in squander similar to the slums of India.
It is already a major problem of little concern within Los Angeles and San Francisco as well as other major US cities.
Anyone wise enough to offer a solution?
I think you will see Americans living more like Europeans with multi generations living under 1 roof. This is already happening now and my guess is it will escalate greatly in the next year or 2 as many of the jobs gone from the shutdown are not coming back.
As for other options to housing, tiny homes, hobbit homes, boxcar houses, etc, are getting more popular by the day. Those with no jobs can move to rural areas and live quite cheap in these.
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owning a house
bad
you pay the house it doesnT PAY YOU
then once you want it to pay you, you have to leave it and move out
lease a house through the business name. write it off
move freely and love life.
you listening funk?
your house is a piece of garbage
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owning a house
bad
you pay the house it doesnT PAY YOU
then once you want it to pay you, you have to leave it and move out
lease a house through the business name. write it off
move freely and love life.
you listening funk?
your house is a piece of garbage
Explain how that would work exactly.
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Cry me a river, millenial
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Back in the 70s and 80s when I got into the workforce inflation was 15-18% and mortgage rates were 18%.
Inflation has been extremely low for many years in the past couple decades. Housing prices are driven by demand and vary greatly by location.
My first job out of college in a white collar job I made the salary equivalent of $13/hr. today.
You can find many jobs paying that today with no degree.
I lived with 4 other guys in a beat up house for $215/mo. today's dollars.
Drove a beater used car I bought for $1,300.00 equivalent today. Brown-bagged my lunch every day.
Saved all my money and bought my first house (2-family) three years later with a 17.5% mortgage (paid 5 points) and cash of $7,500.
Lived on one side and rented out the other.
Inflation did not get bad until the mid-late 70's, then the federal reserve hiked the interest rates.
I remember getting 8% interest on my normal bank savings account. Long term CDs were even more. You could have a $1 mill in the bank and live off the interest very nicely... can't do that anymore. TPTB are robbing ppl, slowly and stealthily.
Low inflation? I guess you can cherry pick by mentioning new computers and flat screen TVs.
The government fudges inflation numbers more than ever. Food and energy prices are not counted anymore. New auto prices are ridiculous. Cost of tuition is a joke. Rents keep going up and up.
"Shrink-flation" is something they came up with during the last 20 years or so to trick ppl into believing food price inflation is in check. You get much less food for your money these days... haven't you noticed?
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I am sympathetic with the Millennials on one level, but not another. Progressive credentialism, which requires you to get more and more schooling for any given level of work, is what has driven up the cost of education for the Millennials. I think progressive credentialism is the biggest problem for the Millennials. The problem is that the Milllennials have actually bought into all of the fraudulent BS they were sold on by the boomers. For one thing, they keep majoring in stupid shit.
When I was in HS and college in the early 80's, it was generally understood that you majored in whatever subject that related to whatever field or career you were planning on after college. Thus, we focused on real degrees in real fields (electrical engineering, accounting, etc.) Today, young people, especially women, major in "liberals arts" and social fields that do not relate to any industry or career. They rack up lots of student loan debt earning what are essentially worthless degrees.
https://www.amazon.com/dp/B006N0THIM/
https://www.amazon.com/How-Not-Become-Millennial-Sociological-ebook/dp/B084TRHS2D/
The latter book explains literally everything wrong with current society.
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I am sympathetic with the Millennials on one level, but not another. Progressive credentialism, which requires you to get more and more schooling for any given level of work, is what has driven up the cost of education for the Millennials. I think progressive credentialism is the biggest problem for the Millennials. The problem is that the Milllennials have actually bought into all of the fraudulent BS they were sold on by the boomers. For one thing, they keep majoring in stupid shit.
When I was in HS and college in the early 80's, it was generally understood that you majored in whatever subject that related to whatever field or career you were planning on after college. Thus, we focused on real degrees in real fields (electrical engineering, accounting, etc.) Today, young people, especially women, major in "liberals arts" and social fields that do not relate to any industry or career. They rack up lots of student loan debt earning what are essentially worthless degrees.
https://www.amazon.com/dp/B006N0THIM/
https://www.amazon.com/How-Not-Become-Millennial-Sociological-ebook/dp/B084TRHS2D/
The latter book explains literally everything wrong with current society.
Today's colleges are nothing but leftist/Marxist indoctrination camps. These kids are being brain-washed. Now they're doing this in Kindergarten and grade school.
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I blame Obama. He told everyone that the “rich are getting richer and the poor are getting poorer!”....and he’s going to stop it!
Nothing has changed except that him and his wife now live in a $15,000,000 house.🤷♂️
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Today's colleges are nothing but leftist/Marxist indoctrination camps. These kids are being brain-washed. Now they're doing this in Kindergarten and grade school.
This is certainty true and is a huge problem.
The thing is that both my high school and social science of my college were leftist even in the early 80's. Yet we never bought into the horseshit. Neither did the Gen X'ers. I think the key difference is that we were the "latch key" kids of the 80's. We grew up to be independent and self-reliant. The Millennials are "helicopter parenting" kids. They grow up to view government as surrogate parents.
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owning a house
bad
you pay the house it doesnT PAY YOU
then once you want it to pay you, you have to leave it and move out
lease a house through the business name. write it off
move freely and love life.
you listening funk?
your house is a piece of garbage
I have listened to Ray Reynolds for years about incorporating. It sounds good but usually you can't write off more than 1/4 of your house even if it's used for business. Reynolds also claimed to write off his sports car as well but according to the tax laws I've seen you can only write off gas mileage for business related activities and only a portion of the overall cost of the monthly payments. Reynolds went to prison for tax fraud about 15 years ago but he's still preaching the same message. If you can do as you claim can you explain how to do it?
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Could be that soon most people will live from the government and a small part of the normies will dwell in high stress jobs that lend some status. The vanishing middle class provides the best servants... too rich to be poor and too poor to be rich.
On one side many niches where you could make a good living have vanished and on the other many folks do not like a "blue collar job".
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Inflation did not get bad until the mid-late 70's, then the federal reserve hiked the interest rates.
I remember getting 8% interest on my normal bank savings account. Long term CDs were even more. You could have a $1 mill in the bank and live off the interest very nicely... can't do that anymore. TPTB are robbing ppl, slowly and stealthily.
Low inflation? I guess you can cherry pick by mentioning new computers and flat screen TVs.
The government fudges inflation numbers more than ever. Food and energy prices are not counted anymore. New auto prices are ridiculous. Cost of tuition is a joke. Rents keep going up and up.
"Shrink-flation" is something they came up with during the last 20 years or so to trick ppl into believing food price inflation is in check. You get much less food for your money these days... haven't you noticed?
I remember getting that much interest with bank accounts. Many old people are still telling young people to have a savings account. ::)
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I remember getting that much interest with bank accounts. Many old people are still telling young people to have a savings account. ::)
Yes, saving a devaluing currency in an account that pays less than 1% interest is a very bad idea.
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I think you will see Americans living more like Europeans with multi generations living under 1 roof.
As for other options to housing, tiny homes, hobbit homes, boxcar houses, etc, are getting more popular by the day. Those with no jobs can move to rural areas and live quite cheap in these.
We sold our penthouse and are building in a wealthy rural area.
The new house caters to intergenerational living where our daughter has a 3 bedroom self contained apartment, we have a very large master quarters with private outdoor living, a guest room with ensuite (for grandparents).
Property is simply too crazy expensive and has caused all these late marriages, late kids, less kids. All negative trends. We hope to shield our daughter from this so she can start a family young and have support under our wing.
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We sold our penthouse and are building in a wealthy rural area.
The new house caters to intergenerational living where our daughter has a 3 bedroom self contained apartment, we have a very large master quarters with private outdoor living, a guest room with ensuite (for grandparents).
Property is simply too crazy expensive and has caused all these late marriages, late kids, less kids. All negative trends. We hope to shield our daughter from this so she can start a family young and have support under our wing.
Adult children behave better when living around family. It is easy to live a degenerate lifestyle when you are far away from family and friends.
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I am sympathetic with the Millennials on one level, but not another. Progressive credentialism, which requires you to get more and more schooling for any given level of work, is what has driven up the cost of education for the Millennials. I think progressive credentialism is the biggest problem for the Millennials. The problem is that the Milllennials have actually bought into all of the fraudulent BS they were sold on by the boomers. For one thing, they keep majoring in stupid shit.
When I was in HS and college in the early 80's, it was generally understood that you majored in whatever subject that related to whatever field or career you were planning on after college. Thus, we focused on real degrees in real fields (electrical engineering, accounting, etc.) Today, young people, especially women, major in "liberals arts" and social fields that do not relate to any industry or career. They rack up lots of student loan debt earning what are essentially worthless degrees.
https://www.amazon.com/dp/B006N0THIM/
https://www.amazon.com/How-Not-Become-Millennial-Sociological-ebook/dp/B084TRHS2D/
The latter book explains literally everything wrong with current society.
Abelard!
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owning a house
bad
you pay the house it doesnT PAY YOU
then once you want it to pay you, you have to leave it and move out
lease a house through the business name. write it off
move freely and love life.
you listening funk?
your house is a piece of garbage
/Dan Bilzerian has entered the chatroom
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We sold our penthouse and are building in a wealthy rural area.
The new house caters to intergenerational living where our daughter has a 3 bedroom self contained apartment, we have a very large master quarters with private outdoor living, a guest room with ensuite (for grandparents).
Property is simply too crazy expensive and has caused all these late marriages, late kids, less kids. All negative trends. We hope to shield our daughter from this so she can start a family young and have support under our wing.
Very nice, that will help her out big time. Respect.
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This stinking cunts problem isn’t that he is a millennial it’s because he’s a fucking looser not willing to put in the graft and has the money management skills of a child a side effect of being a pampered piece of shit that had everything easy growing up. Useless twat
(http://i.postimg.cc/bvLvjqsn/u-https-media-giphy-com-media-Eys-AMIOt4-GOmk-giphy-downsized-large.gif)
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(http://i.postimg.cc/bvLvjqsn/u-https-media-giphy-com-media-Eys-AMIOt4-GOmk-giphy-downsized-large.gif)
LOL Henda is fucking classic.
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I have 3 rentals and while I have been lucky with my tenants being long term and overall great.... most aren't. I know one friend that owns a rental in the same condo that I have one of mine in and he has been stuck with a tenant he can't get rid of for 16 months now. 16 months without being paid a penny. That is 16 months he has had to pay the HOA fees there and infraction penalties and/or damage that his tenant incurs. Once they become squatters, it is a big mess and they never take care of anything once they stop paying. You can use the courts to evict them, but that is money out of your own pockets you will never get back and then the money you have to spend to fix whatever they fucked up out spite before they were escorted out by the sheriff so to speak.
Rentals are a great way to supplement your income, but unless you own dozens, you won't be able to make a living off of them most of the times.
Buy and rent out in a rural College town, it's stupid easy, but you have to be flexible. My best housing returns are in College towns, find some houses near the campus. I've sold a few of my properties in Houston just so i can invest more into my three rentals in College Station, Texas. I'm renting houses out to rich college parents for $2800 a month that should fetch around $1500; within 10-15 years they will have paid themselves off. You just have to be prepared for turnover, but each semester i have a "list" to pick from. Just don't get mad when they break something. ;D
Back to the topic. This is why you get a real degree. Hell my first job straight out of college as a structural engineer made me 48k a year in 1998. Within 10 years i was making around 75k i think and getting nice bonuses. I pay engineers straight out of a "good" college program around 55k. If they bust their ass for 4-5 years and get licensed, i'll bump them up to 70k no problem.
Kids today do not understand money, they will buy a 60k BMW, 200k house and 50k wedding within 5 years of getting out of college. But they won't pay anything more than the minimum on their tuition debt because they are retarded. I paid off over 50k in loans within 5 years of graduation. Cry me a river. I also worked 20-30 hours a week the entire time i was in College.
Like others said, be smart with money, don't buy stupid things you can't afford, pack your lunch, only buy clothes and other items on sale, buy the off brand items at the store. If you live like this for 5-10 years and save money, you will be in a good place. But most people believe in instant gratification, they have to have expensive clothes, cars, TV's, etc. I understand, but there is a smart way to manage your money.
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Buy and rent out in a rural College town, it's stupid easy, but you have to be flexible. My best housing returns are in College towns, find some houses near the campus. I've sold a few of my properties in Houston just so i can invest more into my three rentals in College Station, Texas. I'm renting houses out to rich college parents for $2800 a month that should fetch around $1500; within 10-15 years they will have paid themselves off. You just have to be prepared for turnover, but each semester i have a "list" to pick from. Just don't get mad when they break something. ;D
Back to the topic. This is why you get a real degree. Hell my first job straight out of college as a structural engineer made me 48k a year in 1998. Within 10 years i was making around 75k i think and getting nice bonuses. I pay engineers straight out of a "good" college program around 55k. If they bust their ass for 4-5 years and get licensed, i'll bump them up to 70k no problem.
Kids today do not understand money, they will buy a 60k BMW, 200k house and 50k wedding within 5 years of getting out of college. But they won't pay anything more than the minimum on their tuition debt because they are retarded. I paid off over 50k in loans within 5 years of graduation. Cry me a river. I also worked 20-30 hours a week the entire time i was in College.
Like others said, be smart with money, don't buy stupid things you can't afford, pack your lunch, only buy clothes and other items on sale, buy the off brand items at the store. If you live like this for 5-10 years and save money, you will be in a good place. But most people believe in instant gratification, they have to have expensive clothes, cars, TV's, etc. I understand, but there is a smart way to manage your money.
Wise words.
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Inflation did not get bad until the mid-late 70's, then the federal reserve hiked the interest rates.
I remember getting 8% interest on my normal bank savings account. Long term CDs were even more. You could have a $1 mill in the bank and live off the interest very nicely... can't do that anymore. TPTB are robbing ppl, slowly and stealthily.
Low inflation? I guess you can cherry pick by mentioning new computers and flat screen TVs.
The government fudges inflation numbers more than ever. Food and energy prices are not counted anymore. New auto prices are ridiculous. Cost of tuition is a joke. Rents keep going up and up.
"Shrink-flation" is something they came up with during the last 20 years or so to trick ppl into believing food price inflation is in check. You get much less food for your money these days... haven't you noticed?
Well you made my case for me it seems.
Inflation provides growth. No inflation, no growth.
Baby boomers went through a worklife of high inflation. They are the wealthiest.
Today's young workers are going through worklife of crazy low inflation. They are the poorest.
We are fucked unless they up inflation back to the days of 8%-10% to allow for asset inflation, wage inflation and savings accounts to function again.
As i said, Romans managed this for over a thousand years using currency devalustion. We managed it for 40yrs using debt and low inflqtion and are utterly fucked because a finite currency system doesn't work.
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Well you made my case for me it seems.
Inflation provides growth. No inflation, no growth.
Baby boomers went through a worklife of high inflation. They are the wealthiest.
Today's young workers are going through worklife of crazy low inflation. They are the poorest.
We are fucked unless they up inflation back to the days of 8%-10% to allow for asset inflation, wage inflation and savings accounts to function again.
As i said, Romans managed this for over a thousand years using currency devalustion. We managed it for 40yrs using debt and low inflqtion and are utterly fucked because a finite currency system doesn't work.
You are conflating inflation and interest rates a bit there. They sent helicopter money in stimulus checks just this year...and recapitalized the banks, again... There are high levels of inflation in certain market segments. Starting to think the reason the wealth gap is widening is that a majority of the population doesn't actually add any value to the system. When that happens...how long can you just send out free money before the system fails? I mean it is failing, really. Rates should be 7% right now at least. The paper and digital economy is completely unattached to actual value.
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You are conflating inflation and interest rates a bit there. They sent helicopter money in stimulus checks just this year...and recapitalized the banks, again... There are high levels of inflation in certain market segments. Starting to think the reason the wealth gap is widening is that a majority of the population doesn't actually add any value to the system. When that happens...how long can you just send out free money before the system fails? I mean it is failing, really. Rates should be 7% right now at least. The paper and digital economy is completely unattached to actual value.
That's because Interest rates and inflation are in a relationship together.
Rates shouldn't be at 7%. The leverage system will always end at zero because it is finite. To get any growth using only debt the only option is to lower rates which will always lead to zero.
Look over history to when we really started to use more debt and ease access to credit. Rates pretty much went from 18% straight to zero over 40yrs. What did inflation do? Went from 18% down to 1%.
You can give QE indefinitely because it is infinite, there is no ceiling. The inflation is a control measure for soending by a govt. If they act like spastics and spend at 18%, inflation becomes 18%, interest rates go to 18% and people get burned. Hence Anabolic's comment of what he experienced. The irony is, that system works but govts were irresponsible and moved to debt so they could continue being irresponsible.
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That's because Interest rates and inflation are in a relationship together.
Rates shouldn't be at 7%. The leverage system will always end at zero because it is finite. To get any growth using only debt the only option is to lower rates which will always lead to zero.
Look over history to when we really started to use more debt and ease access to credit. Rates pretty much went from 18% straight to zero over 40yrs. What did inflation do? Went from 18% down to 1%.
You can give QE indefinitely because it is infinite, there is no ceiling. The inflation is a control measure for soending by a govt. If they act like spastics and spend at 18%, inflation becomes 18%, interest rates go to 18% and people get burned. Hence Anabolic's comment of what he experienced. The irony is, that system works but govts were irresponsible and moved to debt so they could continue being irresponsible.
The interest rate is zero because the value of newly created money is meaningless other than to keep the ball rolling. They can't get the money in people's hands fast enough. Actual prosperity has already been spoken for and is controlled well into the future, the manipulation of fake money is what is left.
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The interest rate is zero because the value of newly created money is meaningless other than to keep the ball rolling. They can't get the money in people's hands fast enough. Actual prosperity has already been spoken for and is controlled well into the future, the manipulation of fake money is what is left.
Can you clarify as you just mentioned inflation and rates should be 7%.
Your last response somewhat resonates with what i post on here about deflation but it's at odds with your previous post. Would just like to understand where you sit - do you think we are under.high inflation like many on this board or in deflation? just so i can respond correctly.
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I have listened to Ray Reynolds for years about incorporating. It sounds good but usually you can't write off more than 1/4 of your house even if it's used for business. Reynolds also claimed to write off his sports car as well but according to the tax laws I've seen you can only write off gas mileage for business related activities and only a portion of the overall cost of the monthly payments. Reynolds went to prison for tax fraud about 15 years ago but he's still preaching the same message. If you can do as you claim can you explain how to do it?
I don’t know this fella you speak of
But I do follow cardone
He is smart and sells intangibles
He also goes t take any shit from anyone
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Life is objectively harder for younger people, that's undeniable. What is also undeniable is that young people vote for policies that would make their lives worse, because their moral and economic guidance comes from corporations and billionaires.
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Life is objectively harder for younger people, that's undeniable. What is also undeniable is that young people vote for policies that would make their lives worse, because their moral and economic guidance comes from corporations and billionaires.
Yes, but the federal reserve and government policies are directly responsible for all of it. Anyone who does not understand this needs to do some research. Politicians are totally useless. Things only get worse over time.
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Well you made my case for me it seems.
Inflation provides growth. No inflation, no growth.
Baby boomers went through a worklife of high inflation. They are the wealthiest.
Today's young workers are going through worklife of crazy low inflation. They are the poorest.
We are fucked unless they up inflation back to the days of 8%-10% to allow for asset inflation, wage inflation and savings accounts to function again.
As i said, Romans managed this for over a thousand years using currency devalustion. We managed it for 40yrs using debt and low inflqtion and are utterly fucked because a finite currency system doesn't work.
Even with the inflation of the 70's and 80's, boomers were earning livable wages back then... people today are not.
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I don’t know this fella you speak of
But I do follow cardone
He is smart and sells intangibles
He also goes t take any shit from anyone
I like Cardone as well.
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Can you clarify as you just mentioned inflation and rates should be 7%.
Your last response somewhat resonates with what i post on here about deflation but it's at odds with your previous post. Would just like to understand where you sit - do you think we are under.high inflation like many on this board or in deflation? just so i can respond correctly.
If you were to look at the economy and equity markets in a snapshot and apply what money policy was up until say the early 2000s then rates would be that high. There is no doubt we are in a ZIRP/NIRP spiral at this point. As Mr. A said the wealth gap can only increase as earning power is down. Unskilled and low skilled jobs alike are way down even before covid. Useless eaters that don't pay taxes can't support the old way of doing things...not like we were balancing the budget anyway. How much inflation you think there is depends on your means and what you are buying. I see crazy inflation in rural housing, land and building materials...but that's what I focus on. There is a lot of distortion in financial information as this all changes, which is why I'm mostly out of things financially that I can't control directly and quickly.
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If you were to look at the economy and equity markets in a snapshot and apply what money policy was up until say the early 2000s then rates would be that high. There is no doubt we are in a ZIRP/NIRP spiral at this point. As Mr. A said the wealth gap can only increase as earning power is down. Unskilled and low skilled jobs alike are way down even before covid. Useless eaters that don't pay taxes can't support the old way of doing things...not like we were balancing the budget anyway. How much inflation you think there is depends on your means and what you are buying. I see crazy inflation in rural housing, land and building materials...but that's what I focus on. There is a lot of distortion in financial information as this all changes, which is why I'm mostly out of things financially that I can't control directly and quickly.
Very good.
Some of the Getbig economists on here conveniently ignore many of these things. They cherry pick and love referencing the bogus government numbers/stats like they are legit.
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My Plumber makes bank try changing jobs or careers to something people want or need.
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My Plumber makes bank try changing jobs or careers to something people want or need.
A plumber wanted to charge my mom $200 to fix her toilet (tank would not fill back up after flushing). I told her to forget it and that I would come over and do it myself. I replaced the fill valve, which cost $13. VERY easy to fix. Most plumbers are fukin liars and scammers.
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A plumber wanted to charge my mom $200 to fix her toilet (tank would not fill back up after flushing). I told her to forget it and that I would come over and do it myself. I replaced the fill valve, which cost $13. VERY easy to fix. Most plumbers are fukin liars and scammers.
It will only get worse as almost no young person can fix anything today.
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Even with the inflation of the 70's and 80's, boomers were earning livable wages back then... people today are not.
Ummm that's because inflation is a requirement for wage inflation ::)
Wage inflation even has the word 'inflation' in it to give you a massive hint.
Come on dude. Inflation has gone from 17% down to 1% and wage inflation has gone from double digits to either nothing or 2% to be inline with CPI. You work around inflation by using debt because it's a balance sheet system. As a result the assets linked to debt skyrocketed meanwhile CPI and wages fell.
I've lead you to water but damn you are taking a long time to take a drink.
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If you were to look at the economy and equity markets in a snapshot and apply what money policy was up until say the early 2000s then rates would be that high. There is no doubt we are in a ZIRP/NIRP spiral at this point. As Mr. A said the wealth gap can only increase as earning power is down. Unskilled and low skilled jobs alike are way down even before covid. Useless eaters that don't pay taxes can't support the old way of doing things...not like we were balancing the budget anyway. How much inflation you think there is depends on your means and what you are buying. I see crazy inflation in rural housing, land and building materials...but that's what I focus on. There is a lot of distortion in financial information as this all changes, which is why I'm mostly out of things financially that I can't control directly and quickly.
For currency and monetary policy it is a macro view. You can't take a miniscule example and then assume the same outcome for everything.
I see the same price increases in rural and building. Guess why? People like me sold property in wealthy areas and took the money to those areas which are piss cheap compared to where we live. Meanwhile where we sold, rents have gone down and prices are struggling to hold.
So consider your rural city of 0.1M people gets a boom and meanwhile the city of 5M is already falling backwards. The economic implications of the large city simply dwarf that of the rural city which is why you can't apply localised outcomes of tiny areas to that of the vast majority.
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I see the same price increases in rural and building. Guess why? People like me sold property in wealthy areas and took the money to those areas which are piss cheap compared to where we live.
"You can't take a miniscule example and then assume the same outcome for everything." :D
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If they quit drinking Starbucks and eating avocado toast they wouldn’t have money problems :D
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So consider your rural city of 0.1M people gets a boom and meanwhile the city of 5M is already falling backwards. The economic implications of the large city simply dwarf that of the rural city which is why you can't apply localised outcomes of tiny areas to that of the vast majority.
Non-American spelling? Are you not American and speaking on our economy? jk ;D
Regardless of what happens in the city - the reason to live rural is amplified further and the effect is less. I'm not talking about the day trading balance, the macro view, the Fox Biz/CNBC crowd...just day to day stuff. Those of us who already live this way and don't spend 110% of our income on "city life" didn't have to sell a place in the city to wise up. Screw the "vast majority"...can't control what they do anymore than you can lobby the fed. As far as I'm concerned the wheels are too far in motion economically, just paying attention to hedge against the stupidity.
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Non-American spelling? Are you not American and speaking on our economy? jk ;D
Yep, and yet here i am helping Americans and others understand how it functions and fits together :D
I hope your dig at me not being American was a joke. You left the topic in a hurry and switched to saying how you lead a simple life. It's ok to say you disagree, don't make a comment that can be taken as rude as i am polite and my knowledge depth around these topics is considerably larger than yours.
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Ummm that's because inflation is a requirement for wage inflation ::)
Wage inflation even has the word 'inflation' in it to give you a massive hint.
Come on dude. Inflation has gone from 17% down to 1% and wage inflation has gone from double digits to either nothing or 2% to be inline with CPI. You work around inflation by using debt because it's a balance sheet system. As a result the assets linked to debt skyrocketed meanwhile CPI and wages fell.
I've lead you to water but damn you are taking a long time to take a drink.
You keep referencing government numbers and stats like they are legit.
The water you're leading ppl to is polluted. Then you pat yourself on the back. ::) Stop watching CNBC
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Yep, and yet here i am helping Americans and others understand how it functions and fits together :D
I hope your dig at me not being American was a joke. You left the topic in a hurry and switched to saying how you lead a simple life. It's ok to say you disagree, don't make a comment that can be taken as rude as i am polite and my knowledge depth around these topics is considerably larger than yours.
::) ::) ::)
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Yep, and yet here i am helping Americans and others understand how it functions and fits together :D
I hope your dig at me not being American was a joke. You left the topic in a hurry and switched to saying how you lead a simple life. It's ok to say you disagree, don't make a comment that can be taken as rude as i am polite and my knowledge depth around these topics is considerably larger than yours.
Well, that was worth a chuckle. I didn't say I led a simple life, I said I live the life I chose.
Again, as to your anecdote about selling real estate....are you actually in the USA? Context is important.
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Well, that was worth a chuckle. I didn't say I led a simple life, I said I live the life I chose.
Again, as to your anecdote about selling real estate....are you actually in the USA? Context is important.
Ignore the boy in the plastic bubble - lol
He'd take a turd and spin it into something positive... typical Keynesian.
Look at the overall debt as % of GDP = ouch.
Without the Fed pumping trillions (soon quadrillions) into everything, the US is done.
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I started working in the trades in my early twenties and own one property, fully paid off vehicle along with a boat and sea doo. Right now i am working on getting a small piece of land on a water front to start staging my future cottage.
As for all my college friends that are doing well, almost all still live at home under the comfort of someone elses expense. We are all between the age of 28-32.
No stress working in the maintenance sector. Work from 7am and usually stop my day around 130. Company vehicle, gas expenses covered along with a provided per diem. Started in construction then got put in a more technical position later on in my carrer as an elevator mechanic.
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I started working in the trades in my early twenties and own one property, fully paid off vehicle along with a boat and sea doo. Right now i am working on getting a small piece of land on a water front to start staging my future cottage.
Nice. My younger brother is a carpenter and did the same type of things. His only mistake was have 3 kids, one after another. Now he's struggling.
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I started working in the trades in my early twenties and own one property, fully paid off vehicle along with a boat and sea doo. Right now i am working on getting a small piece of land on a water front to start staging my future cottage.
As for all my college friends that are doing well, almost all still live at home under the comfort of someone elses expense. We are all between the age of 28-32.
No stress working in the maintenance sector. Work from 7am and usually stop my day around 130. Company vehicle, gas expenses covered along with a provided per diem. Started in construction then got put in a more technical position later on in my carrer as an elevator mechanic.
I heard the elevator business is kind of up and down.
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Nice. My younger brother is a carpenter and did the same type of things. His only mistake was have 3 kids, one after another. Now he's struggling.
It was the 3 kids with 3 different women that really hurt him.
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It was the 3 kids with 3 different women that really hurt him.
No, he's actually very faithful to his wife, but she wears the pants and no longer works... ouch.
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I heard the elevator business is kind of up and down.
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BB King had 10 kids with 10 different women. No lie.
That dude was a true Getbigger.
(http://assets.rollingstone.com/assets/2015/article/b-b-king-blues-legend-dead-at-89-20150515/194539/large_rect/1430582838/1401x788-84912818.jpg)
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BB King had 10 kids with 10 different women. No lie.
That dude was a true Getbigger.
(http://assets.rollingstone.com/assets/2015/article/b-b-king-blues-legend-dead-at-89-20150515/194539/large_rect/1430582838/1401x788-84912818.jpg)
Kept working until he was dead... makes sense now.
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I'll bet he was broke.
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(https://64.media.tumblr.com/6a1566f001d6337bab541023ef5635d2/5d855f7c37bf2b7b-bd/s1280x1920/f1e52349ed832281c9768b845a160a305ead1eb1.jpg)
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Was that one of BB King's baby mommas?
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BB King had 10 kids with 10 different women. No lie.
That dude was a true Getbigger.
(http://assets.rollingstone.com/assets/2015/article/b-b-king-blues-legend-dead-at-89-20150515/194539/large_rect/1430582838/1401x788-84912818.jpg)
More like 50. There's a reason these guys never come off the road. :D
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I heard the elevator business is kind of up and down.
Its a niche industry. A lot of nepotism within the union
Great industry with a lot of growth potential within the trades and cooperate route.
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Its a niche industry. A lot of nepotism within the union
Great industry with a lot of growth potential within the trades and cooperate route.
2 years ago a friend from the gym got crushed working in a elevator shaft. Broke his arm, leg, clavicle and pelvis... almost died. Lock out/tag out was not adhered to. He trying for a $2 million settlement.