controversial opinion: money & finances edition

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow, liking our current insurance system! You are definitely one of maybe ten people in the whole country!

Oh I can do this one.

The way Americans do healthcare is better for the sickest people who want to proceed with expensive treatments to fight for their lives and so, to my mind, the best way.

Can you explain further? Genuinely curious.

American healthcare is so expensive because we spend so much money on people who are likely to die anyway. The UK’s NHS just won’t pay if the expense is high and the expected extra years of life are low.

Yes but Americans would not have it any other way when it is them or a family member that is sick. This is the true reason that healthcare costs in America will never be reigned in.

No, I would prefer another way when a person's quality if life and prognosis is poor. If my husband were seriously ill now at age 45, I would want expensive treatment. My father is in poor health, has dementia, is practically bed ridden. I don't think any money should be spent on him except keeping him out of pain and keeping him completely fortable. I argue with my brother about it because he wants to keep dragging my das to doctors. There is no cure for him, and he never ever would have wanted to live this way. He was such a proud and meticulous man.

You say “no” but then prove our point with your brother. In fact American families won’t have it any other way and it’s true in your family too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My not so controversial opinions:

Expensive private colleges aren't worth it unless you get substantial aid or can easily afford it. I say this as a double Ivy grad. Your kid is better off going to a good state school and putting the differential into a retirement account and not touching it until he/she retires 50 years later. Or use it to help buy a house.

Better to save as much as you can while still living a reasonably comfortable life. No need to penny pinch, but build up the net worth as quickly as you can. Having six months' savings in the bank is a nice weight off the shoulders. Even better is having five years' living expenses saved. You feel very free.

Always have your long term savings plans and objectives factor in at least one long period of unemployment. Something will come up. It may not be unemployment, but something damn expensive will still come up. I've had $45,000 worth of dental bills in the last year alone through no fault of my own. Damn genetics.

So, the lesson for kids here is- become a dentist

I have been encouraging my kids to think about being an orthodontist, talk about a license to print money

This guy wants you to call him to discuss https://www.wsj.com/articles/mike-meru-has-1-million-in-student-loans-how-did-that-happen-1527252975

My teenager daughter aspires to be an orthodontist, and mentioned this to her orthodontist. Unfortunately, according to this orthodontist, a lot of people are choosing to do invisalign-type correction on their own without the supervision of an orthodontist. She thinks the profession won't be as in-demand as in the past. It's better to just be a general dentist.


Meh. He went to private schools in high COL areas while supporting a SAHM and two kids on borrowed money. There are a lot smarter ways to become an orthodontist.

[Anonymous]

Anonymous wrote:I think people who live in a great school district and pay thousands to put their kids in private school are pretentious idiots.

Or... get this... maybe they know something you don't? Self-made rich aren't in the business of wasting large sums of money. In the wealthiest neighborhoods, 20-30% of their kids are in private. It's not for "status".

[Anonymous]

All expenses on credit cards that give cash back.

All expenses on credit cards paid off in full every pay cycle every two weeks. Don't wait for the statement to come because it is already a month late and by the time you pay it off, you have basically spent two months worth of earnings without paying for your actual credit card expenses. It is a trap. Use the credit card for everything, but keep paying it off in its entirety every two weeks and you will always be ahead of the debt and always know how much money you actually have left.

[Anonymous]

Live with your parents after you get your first job if you are in the same city. Save, save, save for 1-2 years until you can have a nest egg, a down payment for a house. My cousins did it and they were in a great financial position after 3 years. Yes, they paid their parents for groceries and utilities but not for rent.

[Anonymous]

Anonymous wrote:All expenses on credit cards that give cash back.

All expenses on credit cards paid off in full every pay cycle every two weeks. Don't wait for the statement to come because it is already a month late and by the time you pay it off, you have basically spent two months worth of earnings without paying for your actual credit card expenses. It is a trap. Use the credit card for everything, but keep paying it off in its entirety every two weeks and you will always be ahead of the debt and always know how much money you actually have left.

Your real problem is that you’re spending all if your earnings. It’s possible to keep track of your expenses and know how much of your cash is already spent without actually transferring money. That’s the whole basis of accrual accounting.

[Anonymous]

Anonymous wrote:Live with your parents after you get your first job if you are in the same city. Save, save, save for 1-2 years until you can have a nest egg, a down payment for a house. My cousins did it and they were in a great financial position after 3 years. Yes, they paid their parents for groceries and utilities but not for rent.

This doesn't work for everyone. Some people have dysfunctional parents, and living with them is toxic. Aside from that, I think that there are some self-sufficiency lessons never learned. The few people I know who lived with their parents for a few years ended up only moving out when they were about to get married. They went from living with parents to living with a spouse. They lack a certain grit. They are insufferably naive. I think that everyone should live on their own for a few years. Learning to budget (and save) with expenses and on a low salary is a tremendous learning experience. I think it always shapes character in such a way that the person appreciates what is truly want versus need.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Live with your parents after you get your first job if you are in the same city. Save, save, save for 1-2 years until you can have a nest egg, a down payment for a house. My cousins did it and they were in a great financial position after 3 years. Yes, they paid their parents for groceries and utilities but not for rent.

This doesn't work for everyone. Some people have dysfunctional parents, and living with them is toxic. Aside from that, I think that there are some self-sufficiency lessons never learned. The few people I know who lived with their parents for a few years ended up only moving out when they were about to get married. They went from living with parents to living with a spouse. They lack a certain grit. They are insufferably naive. I think that everyone should live on their own for a few years. Learning to budget (and save) with expenses and on a low salary is a tremendous learning experience. I think it always shapes character in such a way that the person appreciates what is truly want versus need.

Living on my own in a new city was the best thing I did to help myself grow as a person. Living at home would not have been worth saving money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Live with your parents after you get your first job if you are in the same city. Save, save, save for 1-2 years until you can have a nest egg, a down payment for a house. My cousins did it and they were in a great financial position after 3 years. Yes, they paid their parents for groceries and utilities but not for rent.

This doesn't work for everyone. Some people have dysfunctional parents, and living with them is toxic. Aside from that, I think that there are some self-sufficiency lessons never learned. The few people I know who lived with their parents for a few years ended up only moving out when they were about to get married. They went from living with parents to living with a spouse. They lack a certain grit. They are insufferably naive. I think that everyone should live on their own for a few years. Learning to budget (and save) with expenses and on a low salary is a tremendous learning experience. I think it always shapes character in such a way that the person appreciates what is truly want versus need.

Living on my own in a new city was the best thing I did to help myself grow as a person. Living at home would not have been worth saving money.

Of course, to every solution there is pros and cons. For some people living a few years with parents have such an impact financially that for the rest of their lives they are ahead -less debt, more savings, a house, college fund for kids, retirement etc. I recognoze that not many want or need this leg-up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a person who has lived overseas, Americans have a very strange idea of how free healthcare works.

20-30% of the national budget goes towards it and increases every year. Most countries want to get rid of it.

It's 21% of our budget. At least in other countries everyone is covered.

In other countries most people behave like responsible adults.

Right. Subsidizing other people’s poor choices and bad habits (obesity, heart disease, smoking related disaeases) is how “responsible adults” operate

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a person who has lived overseas, Americans have a very strange idea of how free healthcare works.

20-30% of the national budget goes towards it and increases every year. Most countries want to get rid of it.

It's 21% of our budget. At least in other countries everyone is covered.

In other countries most people behave like responsible adults.

Right. Subsidizing other people’s poor choices and bad habits (obesity, heart disease, smoking related disaeases) is how “responsible adults” operate

By and large, the people who take the most from the pot and put the least in.

[Anonymous]

Anonymous wrote:I think people who live in a great school district and pay thousands to put their kids in private school are pretentious idiots.

. Or we’ve had one kid go off the rails and take a decade to get a life back and didn’t want that chance with the next kid. More eyeballs on the kids and quick notification if something is up...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a person who has lived overseas, Americans have a very strange idea of how free healthcare works.

20-30% of the national budget goes towards it and increases every year. Most countries want to get rid of it.

It's 21% of our budget. At least in other countries everyone is covered.

In other countries most people behave like responsible adults.

Right. Subsidizing other people’s poor choices and bad habits (obesity, heart disease, smoking related disaeases) is how “responsible adults” operate

It's amazing how many people on DCUM do not understand how Insurance works

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a person who has lived overseas, Americans have a very strange idea of how free healthcare works.

20-30% of the national budget goes towards it and increases every year. Most countries want to get rid of it.

It's 21% of our budget. At least in other countries everyone is covered.

In other countries most people behave like responsible adults.

Right. Subsidizing other people’s poor choices and bad habits (obesity, heart disease, smoking related disaeases) is how “responsible adults” operate

You don't get it.

Insurance works well in other countries, with very reasonable costs, because most people there behave like responsible adults: good diet, exercise, self-control, family support...so sick rates and costs are way lower.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a person who has lived overseas, Americans have a very strange idea of how free healthcare works.

20-30% of the national budget goes towards it and increases every year. Most countries want to get rid of it.

It's 21% of our budget. At least in other countries everyone is covered.

In other countries most people behave like responsible adults.

Right. Subsidizing other people’s poor choices and bad habits (obesity, heart disease, smoking related disaeases) is how “responsible adults” operate

You don't get it.

Insurance works well in other countries, with very reasonable costs, because most people there behave like responsible adults: good diet, exercise, self-control, family support...so sick rates and costs are way lower.

Have you ever even been to those countries and seen how many people smoke in Germany and France