Have not worked in 19 months

[brooks85]

From the web:

I recently asked my friends' little girl what she wanted to be when she
Grows up.
She said she wanted to be President of the United States.
Both of her parents, liberal Democrats, were standing there.
So I asked her, "If you were President, what would be the first
Thing you would do?"
She replied, "I'd give food and houses to all the homeless people...
Her parents proudly beamed.
"Wow...what a worthy goal," I told her.
"But you don't have to wait until you're President to do that.
Tell you what - you can come over to my house and mow the lawn,
Pull weeds, and sweep my driveway, and I'll pay you $50. Then I'll take you
Over to the grocery store where the homeless guy hangs out, and you can give
Him the $50 to use toward food and a new house." How about doing something
Wonderful like that?
She thought that over for a few seconds, then she looked me straight in the
Eye and asked, "Why doesn't the homeless guy come over and do the work, and
You can just pay him the $50?"
I said, "Welcome to the Republican Party."
Her parents still aren't speaking to me.

love it

[ngates815]

TV was the first thing on her list. I don't get why people are bashing her. If she's happy living life the way that she is, then why does it bother any of you? Jealousy or something? Wow, it seems like the moment somebody posts about something that has made them happy, there's this huge pack of wolves just waiting to pounce on it, and tear every shred of happiness away. What the fvck is wrong with you people?

What's there to be jealous of? She/he doesn't work? Some people really like there jobs, and don't mind working, and others find different jobs, if they don't like the ones they choose. I know I would be bored if I was retired right now, and I'm only 26, I get bored on the weekends during the day when there is no football, I hate just sitting at home. I couldn't imagine doing it all day every day.

I wouldn't be happy with only making enough money to "get by" I like going out to dinner, I like going to events, I like buying new shit when it comes out. I like my extra spending money.

[Patrick McIrish]

TV was the first thing on her list. I don't get why people are bashing her. If she's happy living life the way that she is, then why does it bother any of you? Jealousy or something? Wow, it seems like the moment somebody posts about something that has made them happy, there's this huge pack of wolves just waiting to pounce on it, and tear every shred of happiness away. What the fvck is wrong with you people?

Actually this is a valid observation.

[d2bets]

Cashed out part of my 401K and paid the house off.

No kids, No car payment, No mortgage payment.

Only need to make 15K/yr to get buy and that is easily done playing poker and sports betting.

Cashing out 401k to pay mortgage is a really bad idea.

[d2bets]

tv 100
food 300
car fuel 100
elec 70
prop tax 400
car ins 40
home ins 100
gas 75
phone 35
internet 65
1285

Do you not wear clothes?
health insurance/costs?
things like shampoo, deodorant, toothpaste, toilet paper, etc etc? $0?
What happens when your car dies?
Or something at the home needs to be replaced/repaired?

[rm18]

Good decision I would rather play 10 cent poker until my eyes fall out than work

[ngates815]

Cashing out 401k to pay mortgage is a really bad idea.

What do they take like 30 something percent when you take money out early.

Not the smartest of moves.

[Patrick McIrish]

Unless you roll it over it into another tax deferred plan within 60 or 90 days, I forget which, they destroy you on taxes.

[ngates815]

Unless you roll it over it into another tax deferred plan within 60 or 90 days, I forget which, they destroy you on taxes.

Yea when I stopped at my old job, I had to take my money and put it in some other type of IRA otherwise if I just kept it I woulda lost alot of money.


She/He Used it to pay off the mortgage which isn't the smartest of ideas, but then again it could of been a smart idea, if you plan on living there for the whole term of your mortgage because you'd be saving money on Interest on the loan., in the long run

[Patrick McIrish]

Yep me too Gates. As for her mortgage I personally think it's a good idea to pay it off but I have a friend in the business that tells me that train of thought is incorrect. Not sure if he was trying to sell me something but he claims paying off a mortgage is usually a bad idea. I would assume there are lot of factors like what sort of mortgage you are carrying and so on but I still think just for peace of mind alone it's nice to pay off your house as soon as you can. Maybe I'm wrong.

[BEANTOWNJIM]

MCIRISH HAVE YOU EVER OWNED A HOUSE WHY THE F-CK WOULD YOU WANT TO PAY OFF YOUR MORTGAGE ITS A GREAT TAX BREAK WITH DEPRECIATION AND REPAIRS YOU WOULD BE AN IDIOT TO PAY OFF YOUR MORTGAGE.

I WRITE OFF OVER 20 GRAND IN DEDUCTIONS TO THE IRS ON MY HOME ALONE INCLUDING MY MORTGAGE OR SHOULD I SAY MY LOVELY WIFES MORTGAGE.

YOU WONT FIND A BETTER TAX BREAK THAN REAL ESTATE AND THE TAXES YOU PAY ON YOUR PROPERTY.

[teaserpleaser]

Good for you Emily life is short its your job to be as happy as possible in that short time.

[DaProfessor23]

From the web:

I recently asked my friends' little girl what she wanted to be when she
Grows up.
She said she wanted to be President of the United States.
Both of her parents, liberal Democrats, were standing there.
So I asked her, "If you were President, what would be the first
Thing you would do?"
She replied, "I'd give food and houses to all the homeless people...
Her parents proudly beamed.
"Wow...what a worthy goal," I told her.
"But you don't have to wait until you're President to do that.
Tell you what - you can come over to my house and mow the lawn,
Pull weeds, and sweep my driveway, and I'll pay you $50. Then I'll take you
Over to the grocery store where the homeless guy hangs out, and you can give
Him the $50 to use toward food and a new house." How about doing something
Wonderful like that?
She thought that over for a few seconds, then she looked me straight in the
Eye and asked, "Why doesn't the homeless guy come over and do the work, and
You can just pay him the $50?"
I said, "Welcome to the Republican Party."
Her parents still aren't speaking to me.

best post ive ever seen

[ngates815]

BEANTOWN


How much does that 20K in deductions get you back per year?

You do realize that someone with a 200K mortgage pays about 200-250K in interest over the span of 30 years.

That is roughly 7500 per year in interest paid. I really doubt 20K in deductions covers that.

[Patrick McIrish]

I own a house free and clear Beaner, I own another one that is almost paid off that my mother lives in. I also own the building and land the pawn shop is on. Admittedly I don't do my own taxes but most of the tax breaks you are talking about are available (depreciation, repairs) even after you have paid it off. And since I work from home a lot I can write off a large room in the house and many of the expenses that most people don't even think about. For example if I have to drive over and beat up your pal Johny TwoTimes I can write off the gas from my taxes....

[Patrick McIrish]

And for the record I admit I am not a professional when it comes to this, I read these threads mostly to see what others say. I have plenty I can learn in this area. If I see anything of merit I ask someone that is paid to know the answer. I think real estate is a great idea, I just think it's a good idea to pay it off as soon as possible. At least in most cases. That said more than willing to hear others out that know what they're talking about (sit down Beaner). Good discussion.

[d2bets]

Yep me too Gates. As for her mortgage I personally think it's a good idea to pay it off but I have a friend in the business that tells me that train of thought is incorrect. Not sure if he was trying to sell me something but he claims paying off a mortgage is usually a bad idea. I would assume there are lot of factors like what sort of mortgage you are carrying and so on but I still think just for peace of mind alone it's nice to pay off your house as soon as you can. Maybe I'm wrong.

Is it more peace of mind to have $0 mortgage and $0 in the bank or have 100k mortgage with $100k in the bank?

Depends on your rate but if you got a 4.something interest rate like most do these days, it hardly pays to pay it off given likely future inflation, the mortgage interest deduction and the flexibility that cash gives you over a low mortgage. You can always pay it down in the future but if things go wrong you really can't take the money back out from your house.

[ngates815]

And for the record I admit I am not a professional when it comes to this, I read these threads mostly to see what others say. I have plenty I can learn in this area. If I see anything of merit I ask someone that is paid to know the answer. I think real estate is a great idea, I just think it's a good idea to pay it off as soon as possible. At least in most cases. That said more than willing to hear others out that know what they're talking about (sit down Beaner). Good discussion.

I bought a 26K car when I was 18...I was working pretty much full time my senior year of high school.

I was making double payments on the car pretty much every month, since I lived at home and didn't pay rent
It was great paying off my monthly amount, then paying an extra 600/month on the principal, so I saved on interest. Paid the car off in 2 years.

The only downside to that was, after the car was paid off I was looking to move out. I didn't want to rent an apartment, I wanted to buy a house. I had no money, since I was putting it all to the car. So if you don't need the money at the time, it's a great idea to make "principal" payments. But if you're not lucky enough to be in that position, it sucks paying a shitload of interest on your loans.

Now that I have a house, and talk to my parents regularly, my mother always says, "hey if you got extra money, put some on a principal payment on your house" I always tell her "that was fine when it was a car payment, and I lived at home with no bills" Now that I have over 2K in bills per month, I don't feel like not having a little nestegg of cash.

[Snowball]

good going..

professional cappin from here on out for you

live the dream baby

[Patrick McIrish]

Is it more peace of mind to have $0 mortgage and $0 in the bank or have 100k mortgage with $100k in the bank?

Well that would make sense D2 but usually it's not that cut and dried. For example say you owed 75k and get a 150k windfall. Would you feel safer with 150k in the bank or would you pay off the house and keep 75k in the bank? That would be closer to the situation I am talking about. My buddy agrees with you though, he says even then (although he doesn't recommend you leave it in a bank) you don't pay off the mortgage. In a lot of these answers there is a "right" answer, the one that is based purely economical that is correct but for some people it is not what they prefer. A good example is folks overpaying the IRS all year long. I got people that do that and know they are doing it but prefer that so they get a refund at the end of the year. Strictly dollar and cents/sense it would be much better not to give Uncle Sam your money to spend all year tax free but for them it works out best to do just that. I think in the end you don't always have to do things by the book, if you are losing sleep worried about an investment what good is that possibly doing for you and your family?

[Emily_Haines]

$15,000/12= $1250 per month. you are already $35 over your budget.

and i see no medical/health insurance and no dental (so you must have some pretty fuked up teeth).

edit: you must not bathe either cause i see no water bill in there

fuk medical coverage. no way am I paying 6000/yr for this!!!

obama can go fuk himself on this one.

180 twice a year for dental, have not had any cavities in 15 years

[Grandmaster B]

Government assistance

So, your dime.

you're a idiot...government assistance is $100 a month and you cant live off $100 a month dunce

there are ways to get money tax free...a true capitalist...its called being a seller

Dunce's like you are the buyers

[Grandmaster B]

No way your getting by with those bills on 15k.

I did it for 5 years on 15k...no problems

its called paying your bills first....not being a degen with your rent money

[Emily_Haines]

What do they take like 30 something percent when you take money out early.

Not the smartest of moves.

I wonder how the people feel that left it in there when the market was at 14K? Something tells me if they could do it all over again they wouldn't mind taking that 10% hit. Who the hell says your going to live to be 59.5 anyway? I'm living for today because I don't trust these politicians. I read shit where they want to confiscate 401K's right now. I don't trust them one bit. Who says they won't raise the age when you can withdraw or put more taxes on it at some point?

[MartinBlank]

Do you ever leave your house? A nice restaurant? A show?

Ever take a vacation?

You're living the dream-----Penny to Penny.

[MartinBlank]

I wonder how the people feel that left it in there when the market was at 14K? Something tells me if they could do it all over again they wouldn't mind taking that 10% hit. Who the hell says your going to live to be 59.5 anyway? I'm living for today because I don't trust these politicians. I read shit where they want to confiscate 401K's right now. I don't trust them one bit. Who says they won't raise the age when you can withdraw or put more taxes on it at some point?

And what exactly is your plan when social security becomes insolvent?

Are you expecting the same gov't that you don't trust to take care of you?

[JosephPavs]

Suppose no house repairs or car repairs it would work

[brooks85]

*insert funny comment* N. Korea invading

[DwightShrute]

...

[DwightShrute]

Where is beer, condoms, cigarettes, cologne, deodorant, bodywash, shampoo, toothpaste, shaving foam, underwear, socks, shirts, pants, shoes, books, newspaper and a bunch of other stuff missing?

like ....

• comic books
• ass wipe
• weed
• Swank magazines
• Ferret food
• buggie food
• Nascar tickets
• Mouse traps
• cheese
• fly swatters
• chewing tobacco
• Big Gulps
• Big League Chew
• Nhân Dân Newspaper
• Rudé právo Newspaper
• Kommunist newspaper
• Průkopník svobody Newspaper
• al jazeera cable and newspaper
• wwf tickets
• Nicoret
• Xanax
• cialis
• Zoloft
• Lexapro
• Wellbutrin/ Zyban
• Prozac
• Glue
• Crack
• Meth
• Mad Magazine
• Cracked Magazine
  
• online porn
• vaseline
• twinkies

[ACoochy]

Good 4 u emily. Managed to live off of $12,500 per year 4 a few years there myself in younger days (free healthcare in oz). Granted my quality of life in term of lifes small conveniences had to be foregone as house under my head and bills were main concern...It can be done although having to be a hermit (due to financial restrictions) is one small drawback....Personally wouldnt do it again as enjoy lifes little conveniences too much and besides these days i do something i really enjoy and get paid for it so really dont see it as a 'job'...GL

[Duff85]

Interesting post for sure. Not sure if you won't regret the choice in ten years time, but more power to you.

[JohnGalt2341]

I did it for 5 years on 15k...no problems its called paying your bills first....not being a degen with your rent money

Exactly. When I first moved out on my own I made 12K a year. It wasn't nearly as hard as all the ADULTS at the time told me it would be. My roommate was still in High School and he made even less than I did. Neither one of us(I know I didn't) got any help from our parents ever, and we were Never late on our Rent. The key is discipline and having your priorities straight. Granted it was 1991 at the time, I would say 99% of the population wouldn't have been able to do it. Most people are way too spoiled to give up things like, Cell phone, Internet, Cable, nice car, etc. Fortunately for us we came from families that didn't have much anyway so our lifestyles stayed around the same. I think it would be incredibly hard for me to do it now, but it's certainly possible.

[Grandmaster B]

Exactly. When I first moved out on my own I made 12K a year. It wasn't nearly as hard as all the ADULTS at the time told me it would be. My roommate was still in High School and he made even less than I did. Neither one of us(I know I didn't) got any help from our parents ever, and we were Never late on our Rent. The key is discipline and having your priorities straight. Granted it was 1991 at the time, I would say 99% of the population wouldn't have been able to do it. Most people are way too spoiled to give up things like, Cell phone, Internet, Cable, nice car, etc. Fortunately for us we came from families that didn't have much anyway so our lifestyles stayed around the same. I think it would be incredibly hard for me to do it now, but it's certainly possible.

spot on

kids growing up hard will have no problems surviving in life

kids growing up with silver spoons turn into a mental wreck the first sign of trouble...without money their life is nothing...to them money is their God...not really their fault though...the blame falls on the parents for not teaching them anything about the real world

to me Money is just a piece of paper

[Extra Innings]

Congratulations