back then,American middleclass household by the time they retire,they can sell their house (mortgage free) and move to Florida ,buy or rent a condo and park the rest in a bank earning 10-12%.
They have their SS checks ,401k/pension checks to meet their day to day expenses,travel and enjoy their golden years.
Now,they could have a reverse mortgage on their house or second mortgage so by the time they sold their house,the net proceeds could be a lot smaller.
Then comes medicare and medigap premium,prescription drug which is not covered by either.
Some move to MExico,Costa Rica,Malaysia,Ecuador,Thailand,Portugal.
Mexico seems to be quite popular now.
Someone once said in the future there are 2 kinds of people,those who work on automation and those who play video games all day.
You can imagine those who play video games all day are living on some fixed stipends and dont expect them to walk into an auto showroom and buy the latest model of any luxury car or any new car.
what is going to happen to a society ?
Do young people still want to get married and raise a family?
Is it still worth it to go to college?
Do we still need all the fast food,slow food restaurants?
Are we still be expected to leave 20% tip for lunch and 25-30% for dinner
How about being a professional student all you life aint bad idea?
You dont need fancy clothese,you eat in cafeteria,you learn something every day,you dont have to look for a job,and everyone around you is in the same boat?
if making money is so easy,why arent we all rich?
why are we wasting time chatting on this board?
Making money is hard,darn hard.
As for college,it helps you develop the ability to conceptualise,you know we live in an advanced society,we dont run around with loin cloth and sleep in cave.
Many entrepremeurs wish they have attended college or take a few courses in finance and accounting,but never can spare the time to do so
Quote:
Originally Posted by walkingupwards
(Post 1037456)
Money is a trick of the mind, a group of men have figured out this long time ago and they have been punking everyone ever since.
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HAVE You tried walking out of a grocery store with a bag of grocery without paying for it?????
Quote:
Originally Posted by nickopedia
(Post 1037457)
Having a college degree is no longer a guarantee of financial success. This may have been true 20 years ago, but all the rules of the success game have changed dramatically. Employers are beginning to realize the really smart people didn't necessarily graduate from an ivy league university with some fancy piece of paper.
I find it amazing that high schools still tell lies to students they won't amount to much unless they go on to College/University. In my opinion, the US education system is one of the biggest scams going of the 21st century.
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well,now all the knowhow have been plucked from human into robot,robot advise you how to plan,spend,save and retire.
but someone has to tweak the robots,and these are college graduates with advance degree.
But I agree,that 4 years of undergraduate study can be shortened ,some of these courses have been covered in high school already,if they have not,then revise high school education system
No one ever guarantee a college degree will make you successful or rich,but if you are the employer and you have 2 candidates,one has spent 4 more years studying assorted subject matters and you arent the one who paid for it,who would you hire ?
it is like you have $50 to spend,you can have either a prime rib or a burger,your choice,what would you choose?
Quote:
Originally Posted by nickopedia
(Post 1037466)
A fact:
As many as 44.7 million Americans have student loan debt, according to a 2018 report by the Federal Reserve Bank of New York. The total amount of student loan debt is $1.47 trillion as of the end of 2018 — more than ALL outstanding credit cards or auto loans.
And you wonder why I call it a SCAM?
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student loan is not just for tuition and books,it also covers living- room and board and partying and boozing
Whether you are student or not student,you still have to pay for food and lodging,this cannot be forgiven,
Uncle SAm is the only lender who would lend money to those who have no income,
Quote:
Originally Posted by nickopedia
(Post 1037497)
You mean to say I can use Uncle Sam's money for booze & pot?
Wow, that sounds dandy! :thumb:
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dont you know?
after 2008,those who cant find job went back to school with a studentl oan,at least they get a roof over their head and 3 meals a day,free concerts and lots of company.
school teachers working a second job is nothing new,housewives too and students as well.
we choose our vocation,if we are not happy with the pay or the job,then switch.
Teachers get summer off,who else get 3 months off with pay and then find a summer job pleasing sugar daddy?
They can also sell on Ebay.
I have met enough teachers in my lifetime,I dont recall anyone starving.
Many of us do not have role models to learn early in life that certain skills are in demand by society and awarded with higher pay and prestige,also young folks are idealistic,they follow their interest and want to pursue a career in line with their life goals and interest.
Some just dont have the ability/IQ/perseverance/interest to get into certain industries ,engineering,IT,medicine,law ,finance etc.
American Bar Association said there are just too many lawyers but law school is a money maker,universities spent money on law library,after that,it is a good cash cow.
Law school is expensive,you could spend a fortune and end up as ambulance chaser
Quote:
Originally Posted by nickopedia
(Post 1038788)
And that's why most of the financial advise you hear throughout your life is for the masses.
The best most people can hope for to get "rich" is through an inheritance, lottery win, or to get extremely lucky with a business and investment venture.
For the rest of the "suckers" it's the stuff in the Wall Street Journal or what your pedestrian stock broker tells you.
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depends on where you live,your house could be worth over a million.
sell it and move to the south
