Re:I dont understand how they could have missed th
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Generation Wrecked
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· Score: 2
Sorry, none for you
Hey, lifes tough. Sucks that your parents aren't more supportive, but assuming you're over 18, they don't owe you jack.
Go get a job and leave college for awhile, its probably a better move anyway, given the state of colleges these days. Having trouble paying rent? Get a roommate. If you're still having trouble, get a smaller place. That's what responsibility IS.
I didn't own any stock, but now I am going to pay more taxes so the government can bail these cheating baby boomers out.
Where did you get that idea? Enron isn't being bailed out. Sheesh.
could go on and on, but it's easier to point your sorry ass to the front page of the Wall Street Journal. Or are you too busy making pathetic, flamebait posts like these on slashdot?
Oh, I'm well aware of the fraud at enron. I 'm just trying to figure what in the world gives you the right to have an opinion on it. It isn't affecting you at all.
Fucking whining liberals are always blaming others for their problems. Can't pay rent this month? Is it because you sat on your ass? No, its because of Enron!
Give me a break.
Re:Our Parents are the evil fucks, not us
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Generation Wrecked
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· Score: 2
You need to look up the word "prove" and then look at those "Studies" you think you have.
I think you'll find that they prove nothing, and in fact, don't even provide evidence to support your position.
Your harshness produced a terse and strong response from me.
But my point stands-- by your argument you aren't even responsible for your argument, it is just what you were told to say.
And I don't accept it. you are, and always will be, responsible for all your actiosn, just as I am.
Completely responsible.
I got easy credit when I was a kid, ran up a debt, paid it off and never got another credit card (Except for awhile when I thought I needed one for "backup".) Been free of credit card debt for a long time (And totally debt free for awhile).
Do I blame others for my mistakes because they provided the services I thought I wanted? Hell no.
I have too much integrity and responsibility for that.
Do I have sympathy for people with credit card debt? Sure. Some of them got that way because they had medical problems and literally had no choice.
But to say they are not responsible because the credit was too easy and they had been brainwashedi s a flat out lie.
You can use the word "proven" and "literally" all you want, but people in this country are not being brainwashed by advertising.
Re:Our Parents are the evil fucks, not us
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Generation Wrecked
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· Score: 2
We are being brainwashed (quite literally) through repetition
You need to put your metal hat back-on. They're trying to brain scan you again.
I do find great irony in your whining about people being brain washed by conditioning, and then you go and spread your religious hatred of Ayn Rand.
Given her philosophy, the least you should do is provide a logical, rational rebuttal or argument, rather than just blathering bigoted hatred.
It is most disconserting that there are no logical, factual or rational rebuttals to Objectivism. IT makes evalutating it that much harder, but then, anyone who is going to be an objectivist had better think for themselves.
By the way, since you have already admitted that you feel no responsibility for your own actions and have emphatically stated that you are not thinking for yourself, are we to assume that your marxist ideology is also a result of the conditioning? It seems to be the biggest (by volume) amount of bullshit being force fed to people these days is marxism.
IF you're going to call me a nut, at least get your facts straight before you do so.
Otherwise you risk looking like an ignorant fool.
We got our peace dividend, thanks to Reagan. It was called the 90s. We had so much growth in our economy we could even afford to splurge on a liberal idiot for two terms. (Now we're back to republican idiots. Hopefully the economy will now recover.)
No irony at all. There's a reason the Rolling Stones are not a UK band anymore. They can't afford it.
You imply I'm getting something for nothing, which is bullshit-- I am paying 10 times the taxes I should for the services I'm getting. Of course I will leave-- I'd like to actually have some money left for my kids.
Plus, cutting the amount of taxes I have to pay in retirement in half lowers the amount I need to retire on by half as well.
I love this country. I'd love to see it become the land of the free again.
Unfortunately, those who hate liberty, such as yourself, seem to be in control.
Pheonix is a growth city. Its quite different from LA, SF, SEA, HOU, DAL, NY, etc.
The thing is, what you say is true-- but in that area where you house is, is it going to be a slum in 15 years? Is it going to still be a nice place to live? I don't think you or I can really know, because these things go in waves and people will migrate alot.
IF it remains a good place to live and you stay there for 15 years, and pheonix continues to grow thru that time period and the baby-boom-bust in real estate doesn't materialize (say we allow people to actually emmigrate to the country) then you could be sitting on a goldmine.
Those are a lot of ifs-- and my point is from an investment viewpoint you have to look at the long term trends for the city and where your house is in relation to them to figure the liklihood of a good return over those 15 years. Just like you have to with a stock, except people are used to doing it with stocks, but care more about schools with houses (and does it fit their immediate desires.)
Not bashing what you say- you poke a hole in the generalization, and I hope your situation is a great investment for you.
Rents don't go up %10 a year. Certainly not for more than a year or two. And I live in one of the big boom cities on the west coast and while housing prices have gone up a lot, rents have gone up much slower.
At the same time, that "fixed" mortgage you're paying is %95 wasted for the first 5 years because it all goes to interest. Even after backing out the tax savings, those first five years you end up with less equity than you would by rentin and saving the money (and 5 years is too early for the superior returns from stock and bond investing to have made the difference compared to house appreciation.)
Since most people sell their house between 7 and 9 years after buying it, they only have 2 or 4 years where they have built up any equity at all (other than appreciation due to inflation.)
I hate to see physicists and engineers driving cabs. This always makes me think how stupid somebody somewhere is for not employing this person in their chosen and trained profession.
It shows that people will let bigotry cause their comapny or division to be mediocre-- and thats why companies often fail.
And then it is also amazing how many of these people start driving cabs and in 20 years a re multi-multi-millionaires because they saved their wages, bought their own cab, saved their earnings,bought a fruit stand, or whatever and started a chain of smoke shops or record stores, or whatever.
Hell, Warren Buffet-- #2 on the Current Forbes Top 400 wealthiest in america with $36B got that $36B by literally investing the money he earned as a runner for a broker and a paper boy.
I remain firmly convinced that for every warren buffet, there are a billion americans who could have been merely 500,000aires -- which means about 4 opportunities for every person in the country to retire young. The opportunity is there, and contrary to what liberal bedwetters would have you believe, life is not a zero sum game. Bill Gates being rich INCREASES my opportunity to be rich as well, it doesn't decrease it. And every person who is not where they want to be in life bears the responsibility, either they didn't have the time, or the focus, or they took awhile to figure out where they want to go. They certainly weren't kept down by someone else.
It may take longer for a random immigrant from Russia, but if they know what they want, they have the opportunities here--- at least to the extend that this is a free country still. Imagine if we enforced the Bill of Rights, and opportunity doubled. It would be glorious.
Any McDonalds that turns you down for being "overqualified" is run by an idiot and is not worthy of your deigning to give them your business or your services.
"Overqualified" means the hiring person knows you could kick his ass at his own job with NO training , rather than the 6 months of butt scraping he had to do to get into the position, and he feels threatened.
I guarantee an OWNER of a store will never turn you down for being overqualified-- that's like saying "We have low standards here, we're afraid you'll treat our customers well and that's against corporate policy".
I don't disagree with your observation-- it just shows how idiotic the management of many organizations are-- which is, coincidentally, why it is so easy for anyone of ability to start a business and kick ass.
But then, I'm an "elitist", and I see no shame in it.
Probably. Dunno, were they honest in their return.
Actually, form a moral viewpoint, yes, they deserved it. They deserved a return of %100 of their taxes, as do all of us.
If the government wants to raise money, charge user fees. Put tolls on the roads. Provide collection baskets, charge for schools.
Putting a gun to someones head and demanding half their money is NEVER MORAL, even if you put the money to a "good" cause like indoctrinating the childred to be liberal idiots who love having a gun to their head when they give half their income to stupid rich people who don't have the balls or skills to earn a real living, and instead get their wealth by extortion.
The fraud that Enron perpetrated pales in comparison to the fraud perpetrated by the US congress and federal governmeent every year.
They can't even follow their own laws, let alone the constitution.
IF you're focusing only on Enron, then you are another dupe, taken to the cleaners. Talk about penny wise and pound short!
PS congrats on avoiding taxes last year. Cheers to everyone who does it.
Getting %25 is pretty easy. Just invest in good companies at good prices. If you know what you're doing, you'll know what your return will be BEFORE you ever buy the stock.
Most people have it completely backwards. They buy stocks almost guaranteed to give them a poor or negative return.
Read Buffetology, or just buy BRK. 30 years at over %25-- and that compound average annual return., not total return!
Or, just buy high grade corporate bonds. They often return %10 or more on their face (maybe less these days but actually probably more since so many companies have gone under, floating bonds is probably harder, meaning rates are probably higher too.) And if you are concerned about the bond being too volitile, then buy puts on the companie's common. The company stays solvent, you get your bond return. They go under, your puts go thru the roof and cover your losses (And probably give you a better return.)
The math is really easy. Deciding to learn how to do it wisely and exercising good judgement is the hard part. Don't jump in with a lot of money... keep it in CDs and take $3,000 or so for the first couple of years to invest-- you'll learn a lot those first couple of years.
That's kind of misleading... yes, a total that's equivelant to 15% of your income goes to SS, but only 7.5% percent comes from you -- the other 7.5% is paid by your employer.
No, its precisely correct. What you said, and setting it up that way, is whats misleading.
Look at the figure for self employed-- they pay the whole %15.
Do you think that your employer doesn't make you earn the %7.5 he has to pay? Do you think he doesn't account for it as part of the cost of hiring you? I can assure you he does, and that money is earned by your sweat just as the %7.5 that they actually put on your paycheck.
Really the scam is making it look like its half as big as it actually is-- but EVERY EMPLOYEE must earn that %15 that gets taken by Social Security and fraudulently managed.
And the fraud is blatent and outright-- NO annuity manager in the private sector is allowed to dip into the funds to fund ongoing operations-- that money is the property of the holders of the annuity.
Yet the US Congress dips into SS funds to pay for pork all the time-- this fraud happens repeatedly and nobody says anything.
Instead we're arguing about whether you really pay the %15 or just %7.
We've been taken. And we're too stupid to refuse to put up with it.
Kids are worth approximately -$250,000. Each kid you have will increase the necessary gross earning power required by that amount.
For some people, kids are worth it.
Re:I dont understand how they could have missed th
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Generation Wrecked
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Maybe we are whiners,
Well, at least you admit it.
but that doesn't mean that our parents our justified in to blowing their savings on globe-trotting and hippie weekend camps
Of COURSE they are. its their money! Go get yourself a good job and save so that you can spend it when you're their age. Hell, they freaking RAISED YOU and still managed to save the money they are spending now. They certainly have earned it!
Don't even get me started on the implications of Enron, WorldCom et. al. They've screwed us royally.
Really? Did you have stock in Enron? Were you a worldcom shareholder? I want to get you started. I want to know the exact dollar figure. How much did you loose to enron and worldcom, precisely? How much?
You weren't an employee or shareholder of them, yet you're still complaining? Piss off. The real victims of fraud have a right to complain but you bed wetting liberals do not.
Yes, you are a whiner. And you should be ashamed.
Re:GenX--Living up to the "whiners" sterotype
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· Score: 2
Just to clarify- GDP didn't rise by 1.2% last quarter (which would make a %4.8 growth annually-- that would be staggaring!)
It rose on an annualized basis of 1.2% last quarter.
So annual growth is around 1.2% (Which is ok, but not fantastic. Solid.)
I don't want to waste precious brain power on all that crap (money) either. So what do I do?
You need to get a healthy relationship with money.
ITs well worth your while "Wasting" some brain power on it. And it will get you better results than asking slashdot for what to do.
IF you were out of work for 6 months, you shouldn't have blown your savings. The US had unemployment insurance extentions this year, and McDonalds is always hiring.
Sounds like you're halfway there (getting to zero is half the battle for most debt ridden people.)
Just do a little math, read "Buffetology" and watch your finances.
Renting actually makes financial sense in large cities.
IF you do the math, you'll find that you actually come out ahead if you rent an apartment and invest the difference.
This is because even with the tax advantages, house appreciate slowly compared to the stock market, and most of the calculations that real estate agents give you ignore most of the costs of a house- eg maintenance and property taxes, etc.
Plus the average house is sold within 7-9 years, meaning the person got a NEGATIVE return on their money (even counting the tax savings.)
So, do the calculation and include the real costs of the house.
%2.5 at the bank is a historically very low figure.
If you want a safe good return, then the bonds of corporations that are robust would be a good investment. IF you're willing to do the homework, go into the stock market. (just don't EVER buy mutual funds-- you pay too much for mediocre results.)
Re:Interest Compounds, you CAN do it
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Generation Wrecked
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· Score: 5, Insightful
layed off and couldn't find another job for 6+ months
In my lifetime there has never been a 6 months when McDonalds weren't hiring.
I've got 15 years of software development experience, but before I blow my savings, I'll go to McDonalds and get a job.
Its a calculated risk- if you think you'll get a job in a month by focusing on looking for it, go for it. But don't go six months without work and then blame the economy.
The economy has not been so bad that McDonalds isn't hiring.
I would have to save 1/4 of my earnings for 10 years. Now, explain to me how you are supposed to: buy a house, pay for your car, keep out of debt, and still fucking have 100k saved by the time you are 30s?
Easy. Follow simple rules that have worked for me:
1) Never drive a car that is worth more than two months gross pay. Only drive affordable reliable cars-- the insurance is much lower the taxes are lower, and obviously the payments are lower. Early to mid 80s Toyotas run like champs and can be had for cheap.
2) DON'T BUY A HOUSE! Even when you factor in the tax savings, the costs of owning a house for most people do not make sense. It is not a wise investment for anyone who's being reasonably prudent with their money. Yes, a small apartment is chepaer. Not on a per-square feet basis, but people buy houses bigger than they need.
YES IF YOU INVEST THE DIFFERENCE you make a lot more money living in an apartment than buying a house. BTW- there are alternatives. You could buy 2 acres about 30 miles out of town for $10,000 and put a mobile home on it (you can build a house on it later)... and have a place to live that cost little and will see appreciation AND the tax advantages of owning where you live.
3) Get out of debt. Well, you shouldn't be in debt in the first place. First off, for most careers if you get a years worth of apprenticeship and a job right afterwards, you can be productive at an entry level without going to college. 8 years later you will have 8 years of experience and people your same age will only have four. But if you're in a profession where you have to go to college then work your way thru it. Don't go into debt. The best option is to work your way doing the same job you're training for.
Basically, don't spend money. If you are wise with your money, you may well be retired by the time you're 40. Otherwise, when are you going to retire? 65? Never?
I don't know your living situation but if you had a roomate and weren't able to make ends meet then you were spending too much money (by definition, actually.) Where was your money going?
Re:Our Parents are the evil fucks, not us
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Generation Wrecked
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· Score: 2
Do we bear some of the responsibility for our alleged lack of self control?
You bear complete and total responsibility for everything you freely choose to do.
Until you realize that you won't quite be human.
You think you're not responsible for buying dial soap because a TV add "told you to"???
I don't care if credit is easy or hard- the terms were there upfront. You knew what you were getting into, and you bear COMPLETE AND TOTAL responsibility for your actions.
I agree with you on the over taxation, the ponzi schemes-- in fact, it seems every part of the government is a ponzi scheme these days-- none of them practice fiscal responsibility. So, its time to take it out of their hands.
I'll be responsible for my own social security, thank you, and I bear complete and total responsibility for my spending habits.
As if there weren't 6,000 of the largest companies for sale every day.
I'm a tycooon! I own intel and a major insurance company! OH yeah, I'm rich!
Taxing inheritance is patently asinine. You taxed every dollar while it was made, and now you want to force the kids to sell the business in order to pay the taxes you demand when the owner dies? Yeah, lets destroy businesses. GREAT.
There are lots of things that need to be fixed, at the very least get rid of corporate welfare for lots of companies, and try to eliminate government waste of money (most importantly in the defence industry).
You need to look at the federal budget and see where it is wasting its money. Harping on tiny items is kinda silly in the face of the huge waste.
Slashdot Mirror
Sorry, none for you
Hey, lifes tough. Sucks that your parents aren't more supportive, but assuming you're over 18, they don't owe you jack.
Go get a job and leave college for awhile, its probably a better move anyway, given the state of colleges these days. Having trouble paying rent? Get a roommate. If you're still having trouble, get a smaller place. That's what responsibility IS.
I didn't own any stock, but now I am going to pay more taxes so the government can bail these cheating baby boomers out.
Where did you get that idea? Enron isn't being bailed out. Sheesh.
could go on and on, but it's easier to point your sorry ass to the front page of the Wall Street Journal. Or are you too busy making pathetic, flamebait posts like these on slashdot?
Oh, I'm well aware of the fraud at enron. I 'm just trying to figure what in the world gives you the right to have an opinion on it. It isn't affecting you at all.
Fucking whining liberals are always blaming others for their problems. Can't pay rent this month? Is it because you sat on your ass? No, its because of Enron!
Give me a break.
You need to look up the word "prove" and then look at those "Studies" you think you have.
I think you'll find that they prove nothing, and in fact, don't even provide evidence to support your position.
Your harshness produced a terse and strong response from me.
But my point stands-- by your argument you aren't even responsible for your argument, it is just what you were told to say.
And I don't accept it. you are, and always will be, responsible for all your actiosn, just as I am.
Completely responsible.
I got easy credit when I was a kid, ran up a debt, paid it off and never got another credit card (Except for awhile when I thought I needed one for "backup".) Been free of credit card debt for a long time (And totally debt free for awhile).
Do I blame others for my mistakes because they provided the services I thought I wanted? Hell no.
I have too much integrity and responsibility for that.
Do I have sympathy for people with credit card debt? Sure. Some of them got that way because they had medical problems and literally had no choice.
But to say they are not responsible because the credit was too easy and they had been brainwashedi s a flat out lie.
You can use the word "proven" and "literally" all you want, but people in this country are not being brainwashed by advertising.
We are being brainwashed (quite literally) through repetition
You need to put your metal hat back-on. They're trying to brain scan you again.
I do find great irony in your whining about people being brain washed by conditioning, and then you go and spread your religious hatred of Ayn Rand.
Given her philosophy, the least you should do is provide a logical, rational rebuttal or argument, rather than just blathering bigoted hatred.
It is most disconserting that there are no logical, factual or rational rebuttals to Objectivism. IT makes evalutating it that much harder, but then, anyone who is going to be an objectivist had better think for themselves.
By the way, since you have already admitted that you feel no responsibility for your own actions and have emphatically stated that you are not thinking for yourself, are we to assume that your marxist ideology is also a result of the conditioning? It seems to be the biggest (by volume) amount of bullshit being force fed to people these days is marxism.
You really should have a stomach ache by now.
IF you're going to call me a nut, at least get your facts straight before you do so.
Otherwise you risk looking like an ignorant fool.
We got our peace dividend, thanks to Reagan. It was called the 90s. We had so much growth in our economy we could even afford to splurge on a liberal idiot for two terms. (Now we're back to republican idiots. Hopefully the economy will now recover.)
I love it when people snidely attack me for positions I haven't taken.
No irony at all. There's a reason the Rolling Stones are not a UK band anymore. They can't afford it.
You imply I'm getting something for nothing, which is bullshit-- I am paying 10 times the taxes I should for the services I'm getting. Of course I will leave-- I'd like to actually have some money left for my kids.
Plus, cutting the amount of taxes I have to pay in retirement in half lowers the amount I need to retire on by half as well.
I love this country. I'd love to see it become the land of the free again.
Unfortunately, those who hate liberty, such as yourself, seem to be in control.
Pheonix is a growth city. Its quite different from LA, SF, SEA, HOU, DAL, NY, etc.
The thing is, what you say is true-- but in that area where you house is, is it going to be a slum in 15 years? Is it going to still be a nice place to live? I don't think you or I can really know, because these things go in waves and people will migrate alot.
IF it remains a good place to live and you stay there for 15 years, and pheonix continues to grow thru that time period and the baby-boom-bust in real estate doesn't materialize (say we allow people to actually emmigrate to the country) then you could be sitting on a goldmine.
Those are a lot of ifs-- and my point is from an investment viewpoint you have to look at the long term trends for the city and where your house is in relation to them to figure the liklihood of a good return over those 15 years. Just like you have to with a stock, except people are used to doing it with stocks, but care more about schools with houses (and does it fit their immediate desires.)
Not bashing what you say- you poke a hole in the generalization, and I hope your situation is a great investment for you.
Rents don't go up %10 a year. Certainly not for more than a year or two. And I live in one of the big boom cities on the west coast and while housing prices have gone up a lot, rents have gone up much slower.
At the same time, that "fixed" mortgage you're paying is %95 wasted for the first 5 years because it all goes to interest. Even after backing out the tax savings, those first five years you end up with less equity than you would by rentin and saving the money (and 5 years is too early for the superior returns from stock and bond investing to have made the difference compared to house appreciation.)
Since most people sell their house between 7 and 9 years after buying it, they only have 2 or 4 years where they have built up any equity at all (other than appreciation due to inflation.)
I hate to see physicists and engineers driving cabs. This always makes me think how stupid somebody somewhere is for not employing this person in their chosen and trained profession.
It shows that people will let bigotry cause their comapny or division to be mediocre-- and thats why companies often fail.
And then it is also amazing how many of these people start driving cabs and in 20 years a re multi-multi-millionaires because they saved their wages, bought their own cab, saved their earnings
Hell, Warren Buffet-- #2 on the Current Forbes Top 400 wealthiest in america with $36B got that $36B by literally investing the money he earned as a runner for a broker and a paper boy.
I remain firmly convinced that for every warren buffet, there are a billion americans who could have been merely 500,000aires -- which means about 4 opportunities for every person in the country to retire young. The opportunity is there, and contrary to what liberal bedwetters would have you believe, life is not a zero sum game. Bill Gates being rich INCREASES my opportunity to be rich as well, it doesn't decrease it. And every person who is not where they want to be in life bears the responsibility, either they didn't have the time, or the focus, or they took awhile to figure out where they want to go. They certainly weren't kept down by someone else.
It may take longer for a random immigrant from Russia, but if they know what they want, they have the opportunities here--- at least to the extend that this is a free country still. Imagine if we enforced the Bill of Rights, and opportunity doubled. It would be glorious.
Any McDonalds that turns you down for being "overqualified" is run by an idiot and is not worthy of your deigning to give them your business or your services.
"Overqualified" means the hiring person knows you could kick his ass at his own job with NO training , rather than the 6 months of butt scraping he had to do to get into the position, and he feels threatened.
I guarantee an OWNER of a store will never turn you down for being overqualified-- that's like saying "We have low standards here, we're afraid you'll treat our customers well and that's against corporate policy".
I don't disagree with your observation-- it just shows how idiotic the management of many organizations are-- which is, coincidentally, why it is so easy for anyone of ability to start a business and kick ass.
But then, I'm an "elitist", and I see no shame in it.
Probably. Dunno, were they honest in their return.
Actually, form a moral viewpoint, yes, they deserved it. They deserved a return of %100 of their taxes, as do all of us.
If the government wants to raise money, charge user fees. Put tolls on the roads. Provide collection baskets, charge for schools.
Putting a gun to someones head and demanding half their money is NEVER MORAL, even if you put the money to a "good" cause like indoctrinating the childred to be liberal idiots who love having a gun to their head when they give half their income to stupid rich people who don't have the balls or skills to earn a real living, and instead get their wealth by extortion.
The fraud that Enron perpetrated pales in comparison to the fraud perpetrated by the US congress and federal governmeent every year.
They can't even follow their own laws, let alone the constitution.
IF you're focusing only on Enron, then you are another dupe, taken to the cleaners. Talk about penny wise and pound short!
PS congrats on avoiding taxes last year. Cheers to everyone who does it.
Getting %25 is pretty easy. Just invest in good companies at good prices. If you know what you're doing, you'll know what your return will be BEFORE you ever buy the stock.
Most people have it completely backwards. They buy stocks almost guaranteed to give them a poor or negative return.
Read Buffetology, or just buy BRK. 30 years at over %25-- and that compound average annual return., not total return!
Or, just buy high grade corporate bonds. They often return %10 or more on their face (maybe less these days but actually probably more since so many companies have gone under, floating bonds is probably harder, meaning rates are probably higher too.) And if you are concerned about the bond being too volitile, then buy puts on the companie's common. The company stays solvent, you get your bond return. They go under, your puts go thru the roof and cover your losses (And probably give you a better return.)
The math is really easy. Deciding to learn how to do it wisely and exercising good judgement is the hard part. Don't jump in with a lot of money... keep it in CDs and take $3,000 or so for the first couple of years to invest-- you'll learn a lot those first couple of years.
That's kind of misleading... yes, a total that's equivelant to 15% of your income goes to SS, but only 7.5% percent comes from you -- the other 7.5% is paid by your employer.
No, its precisely correct. What you said, and setting it up that way, is whats misleading.
Look at the figure for self employed-- they pay the whole %15.
Do you think that your employer doesn't make you earn the %7.5 he has to pay? Do you think he doesn't account for it as part of the cost of hiring you? I can assure you he does, and that money is earned by your sweat just as the %7.5 that they actually put on your paycheck.
Really the scam is making it look like its half as big as it actually is-- but EVERY EMPLOYEE must earn that %15 that gets taken by Social Security and fraudulently managed.
And the fraud is blatent and outright-- NO annuity manager in the private sector is allowed to dip into the funds to fund ongoing operations-- that money is the property of the holders of the annuity.
Yet the US Congress dips into SS funds to pay for pork all the time-- this fraud happens repeatedly and nobody says anything.
Instead we're arguing about whether you really pay the %15 or just %7.
We've been taken. And we're too stupid to refuse to put up with it.
Kids are worth approximately -$250,000. Each kid you have will increase the necessary gross earning power required by that amount.
For some people, kids are worth it.
Maybe we are whiners,
Well, at least you admit it.
but that doesn't mean that our parents our justified in to blowing their savings on globe-trotting and hippie weekend camps
Of COURSE they are. its their money! Go get yourself a good job and save so that you can spend it when you're their age. Hell, they freaking RAISED YOU and still managed to save the money they are spending now. They certainly have earned it!
Don't even get me started on the implications of Enron, WorldCom et. al. They've screwed us royally.
Really? Did you have stock in Enron? Were you a worldcom shareholder? I want to get you started. I want to know the exact dollar figure. How much did you loose to enron and worldcom, precisely? How much?
You weren't an employee or shareholder of them, yet you're still complaining? Piss off. The real victims of fraud have a right to complain but you bed wetting liberals do not.
Yes, you are a whiner. And you should be ashamed.
Just to clarify- GDP didn't rise by 1.2% last quarter (which would make a %4.8 growth annually-- that would be staggaring!)
It rose on an annualized basis of 1.2% last quarter.
So annual growth is around 1.2% (Which is ok, but not fantastic. Solid.)
I don't want to waste precious brain power on all that crap (money) either. So what do I do?
You need to get a healthy relationship with money.
ITs well worth your while "Wasting" some brain power on it. And it will get you better results than asking slashdot for what to do.
IF you were out of work for 6 months, you shouldn't have blown your savings. The US had unemployment insurance extentions this year, and McDonalds is always hiring.
Sounds like you're halfway there (getting to zero is half the battle for most debt ridden people.)
Just do a little math, read "Buffetology" and watch your finances.
Mortgage rates are low, but house prices aren't.
Renting actually makes financial sense in large cities.
IF you do the math, you'll find that you actually come out ahead if you rent an apartment and invest the difference.
This is because even with the tax advantages, house appreciate slowly compared to the stock market, and most of the calculations that real estate agents give you ignore most of the costs of a house- eg maintenance and property taxes, etc.
Plus the average house is sold within 7-9 years, meaning the person got a NEGATIVE return on their money (even counting the tax savings.)
So, do the calculation and include the real costs of the house.
What do you have your 401K invested in? Mines returning %7 right now.
I had $100k by age 32, and the thing is: I didn't START until age 28!
At 28 I had a negative net worth.
Get quicken. Keep your records updated. Buy books and learn financial stuff. ITs not that hard.
%2.5 at the bank is a historically very low figure.
If you want a safe good return, then the bonds of corporations that are robust would be a good investment. IF you're willing to do the homework, go into the stock market. (just don't EVER buy mutual funds-- you pay too much for mediocre results.)
layed off and couldn't find another job for 6+ months
In my lifetime there has never been a 6 months when McDonalds weren't hiring.
I've got 15 years of software development experience, but before I blow my savings, I'll go to McDonalds and get a job.
Its a calculated risk- if you think you'll get a job in a month by focusing on looking for it, go for it. But don't go six months without work and then blame the economy.
The economy has not been so bad that McDonalds isn't hiring.
I would have to save 1/4 of my earnings for 10 years. Now, explain to me how you are supposed to: buy a house, pay for your car, keep out of debt, and still fucking have 100k saved by the time you are 30s?
Easy. Follow simple rules that have worked for me:
1) Never drive a car that is worth more than two months gross pay. Only drive affordable reliable cars-- the insurance is much lower the taxes are lower, and obviously the payments are lower. Early to mid 80s Toyotas run like champs and can be had for cheap.
2) DON'T BUY A HOUSE! Even when you factor in the tax savings, the costs of owning a house for most people do not make sense. It is not a wise investment for anyone who's being reasonably prudent with their money. Yes, a small apartment is chepaer. Not on a per-square feet basis, but people buy houses bigger than they need.
YES IF YOU INVEST THE DIFFERENCE you make a lot more money living in an apartment than buying a house. BTW- there are alternatives. You could buy 2 acres about 30 miles out of town for $10,000 and put a mobile home on it (you can build a house on it later)... and have a place to live that cost little and will see appreciation AND the tax advantages of owning where you live.
3) Get out of debt. Well, you shouldn't be in debt in the first place. First off, for most careers if you get a years worth of apprenticeship and a job right afterwards, you can be productive at an entry level without going to college. 8 years later you will have 8 years of experience and people your same age will only have four. But if you're in a profession where you have to go to college then work your way thru it. Don't go into debt. The best option is to work your way doing the same job you're training for.
Basically, don't spend money. If you are wise with your money, you may well be retired by the time you're 40. Otherwise, when are you going to retire? 65? Never?
I don't know your living situation but if you had a roomate and weren't able to make ends meet then you were spending too much money (by definition, actually.) Where was your money going?
Do we bear some of the responsibility for our alleged lack of self control?
You bear complete and total responsibility for everything you freely choose to do.
Until you realize that you won't quite be human.
You think you're not responsible for buying dial soap because a TV add "told you to"???
I don't care if credit is easy or hard- the terms were there upfront. You knew what you were getting into, and you bear COMPLETE AND TOTAL responsibility for your actions.
I agree with you on the over taxation, the ponzi schemes-- in fact, it seems every part of the government is a ponzi scheme these days-- none of them practice fiscal responsibility. So, its time to take it out of their hands.
I'll be responsible for my own social security, thank you, and I bear complete and total responsibility for my spending habits.
its only the rich who are the employers,
This is the myth of socialism.
As if there weren't 6,000 of the largest companies for sale every day.
I'm a tycooon! I own intel and a major insurance company! OH yeah, I'm rich!
Taxing inheritance is patently asinine. You taxed every dollar while it was made, and now you want to force the kids to sell the business in order to pay the taxes you demand when the owner dies? Yeah, lets destroy businesses. GREAT.
There are lots of things that need to be fixed, at the very least get rid of corporate welfare for lots of companies, and try to eliminate government waste of money (most importantly in the defence industry).
You need to look at the federal budget and see where it is wasting its money. Harping on tiny items is kinda silly in the face of the huge waste.