controversial opinion: money & finances edition

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some people on here save way too much for college. If you're able to save that much, you can probably pay some as you go as well. Let your kid pay for their own grad school.

Agreed

Make hay while the sun still shines. You never know when your money might leave, through a job loss, disability, death or other bad situation.

+ 1

Save now while you can.

Eh, if the money goes we qualify for financial aid. Right now we are paying daycare (3900/mo) and a mortgage (2000 Principal and interest) that will no longer exist when my kids are in college. If our income stays the same as it is right now, which isn't likely because we are in our 30s and will probably receive promotions and increases, that's $70K of cash flow that can be reallocated to college costs each year. Plus, it's not like we are spending all of our money every year. We are actually saving quite a bit. However we're putting it into retirement funds, paying down the mortgage, and general savings rather than earmarking it for college.

I feel the same way. We are putting money away for college, but I don’t know why there is so much pressure about it. We had nothing saved for daycare when our incomes were considerably lower, and we were still paying mortgage, car, student loans, etc.

But then you have to remember that a lot of dcum has children much later in life. So when their kids are born, they are in the place in their careers that I will be when my kids go to college. And when their kids go to college, they will be starting to look at retirement. So in that case, of course it makes sense to save a ton for college.

We had kids in our mid 20s, saved for college and now our kids are in college that is 100% paid out of savings. It is incredible to be in our mid 40s, peak earning years, no kid expenses and bringing in 41k in gross income each month. DH and I travel like crazy and dont have a single financial concern in the world. We also will be able to fund a down payment for our kids homes and have already money set aside for our unborn grandkids higher education. Our good planning with our high incomes will positively impact a future generation.

I'm so grateful we are not saddled with toddlers at this point in our lives. Plus my body didnt get wrecked because I had kids when my body was able to bounce back mere weeks after giving birth.

There's enough smugness here to float a yacht.

[Anonymous]

Anonymous wrote:I find the "zero debt" movement immature. Debt is a tool.

it can be if used to invest, bt not if used to consume.

[Anonymous]

A lot of people relying on the Public Service Student Loan Debt Forgiveness program have been/continue to be screwed over based on technicalities, and I don't feel the least bit bad for them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We lease cars, travel internationally every year and have a generally nice life

We only spend 10% of our post tax income

There is a middle ground

um ... what? you just sound very wealthy or am I missing something?

We are

Very wealthy

you are an ass.

[Anonymous]

People, please stop engaging the bizarrely angry and enraged pro-leasing poster. He derails so many threads on this forum. Just treat him like a troll and ignore.

[Anonymous]

Anonymous wrote:People, please stop engaging the bizarrely angry and enraged pro-leasing poster. He derails so many threads on this forum. Just treat him like a troll and ignore.

NP, but the pro-leasing guy is closer to being correct than the anti-leasing guy, and is being less obnoxious as well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone who is not a moron knows that if you can pay in cash you do. A house, a car, whatever.

Those who argue otherwise are still trying to make it rich. Those who have know otherwise.

Curious PP, what is your income?

Zero debt. 300k HHI. Net worth 7.5 million.

How impressive


~ 3.8M HHI , 38 M net worth 15 M debt

Looks like you're a bit of your league

Not PP but I don’t want the management issues and stress of dealing with a lot of investments. Some people love that shit but honestly, zero desire here to be your kind of wealthy. Enjoy it, though, as you seem to.

However, class is not valued by net worth. The fact you brag about your $$ makes you low class, no matter what your financial position is.

[Anonymous]

Curious about how the debt helps so much. Could the high net worth, high debt person
explain this. Sorry for the naiveness but who do you borrow from and what are you using this for?
Thank you

[Anonymous]

Anonymous wrote:Curious about how the debt helps so much. Could the high net worth, high debt person
explain this. Sorry for the naiveness but who do you borrow from and what are you using this for?
Thank you

I am not that poster but posted how I don’t want to deal with it. Commercial real estate, usually.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone who is not a moron knows that if you can pay in cash you do. A house, a car, whatever.

Those who argue otherwise are still trying to make it rich. Those who have know otherwise.

Curious PP, what is your income?

Zero debt. 300k HHI. Net worth 7.5 million.

How impressive


~ 3.8M HHI , 38 M net worth 15 M debt

Looks like you're a bit of your league

NP here. You seem nice.

Not that we had any doubt, considering the current inhabitant of the White House, but thank you for reconfirming that money cannot, in fact, buy class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People, please stop engaging the bizarrely angry and enraged pro-leasing poster. He derails so many threads on this forum. Just treat him like a troll and ignore.

NP, but the pro-leasing guy is closer to being correct than the anti-leasing guy, and is being less obnoxious as well.

+1 the pro lease poster does not assign any moral value to leasing as the anti leasing guy does

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone who is not a moron knows that if you can pay in cash you do. A house, a car, whatever.

Those who argue otherwise are still trying to make it rich. Those who have know otherwise.

Curious PP, what is your income?

Zero debt. 300k HHI. Net worth 7.5 million.

How impressive


~ 3.8M HHI , 38 M net worth 15 M debt

Looks like you're a bit of your league

Not PP but I don’t want the management issues and stress of dealing with a lot of investments. Some people love that shit but honestly, zero desire here to be your kind of wealthy. Enjoy it, though, as you seem to.

However, class is not valued by net worth. The fact you brag about your $$ makes you low class, no matter what your financial position is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Anyone who is not a moron knows that if you can pay in cash you do. A house, a car, whatever.

Those who argue otherwise are still trying to make it rich. Those who have know otherwise.

Curious PP, what is your income?

Zero debt. 300k HHI. Net worth 7.5 million.

How impressive


~ 3.8M HHI , 38 M net worth 15 M debt

Looks like you're a bit of your league

NP here. You seem nice.

Not that we had any doubt, considering the current inhabitant of the White House, but thank you for reconfirming that money cannot, in fact, buy class.

Well, you started it

And considering you make only a 4% return, I wouldn't consider you financially savvy either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People, please stop engaging the bizarrely angry and enraged pro-leasing poster. He derails so many threads on this forum. Just treat him like a troll and ignore.

NP, but the pro-leasing guy is closer to being correct than the anti-leasing guy, and is being less obnoxious as well.

+1 the pro lease poster does not assign any moral value to leasing as the anti leasing guy does

Not true. He treats anyone who doesn’t lease as a moron. Leasing doesn’t bother me, but there is nothing wrong with choosing not to lease.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People, please stop engaging the bizarrely angry and enraged pro-leasing poster. He derails so many threads on this forum. Just treat him like a troll and ignore.

NP, but the pro-leasing guy is closer to being correct than the anti-leasing guy, and is being less obnoxious as well.

+1 the pro lease poster does not assign any moral value to leasing as the anti leasing guy does

Not true. He treats anyone who doesn’t lease as a moron. Leasing doesn’t bother me, but there is nothing wrong with choosing not to lease.

And the anti leasing guy treats everyone with the utmost respect, right?