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'I could've been set for life': This former Goldman Sachs analyst says his family of 4 can't live comfortably on $230K a year after buying 'forever home.' Is the American dream out of reach?
AP Moneywise via Yahoo ^ | February 17, 2024 | Serah Louis

Posted on 02/17/2024 10:36:10 AM PST by grundle

click here to read article


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To: Trailerpark Badass

“I don’t know why posters are giving this guy grief... it’s all due to the inflation of fixed costs created by government policies.”

I read the article. While you are correct as to the probably cause that has decimated millions, nowhere did I see him assign inflation or excessive taxation/regulation as the cause of his current problem. His lifestyle is bigger than his income. He can afford to live there, he is struggling with making the decisions to face that reality... like use public schools or home schooling, suspend all vacations ... otherwise he is right, he needs to work to make up the gap.

Since he is in Bay area, and some other facts mentioned in the article ... betting odds are is that he is a demonkkkrap. So criticism is warranted because he gets what he votes for and supports - he “can’t go there” in his mind and face the truth. Also, he probably would not welcome some good old Dave Ramsey advice - b/c Ramsey does not talk like demonkkkraps do.


41 posted on 02/17/2024 11:19:17 AM PST by Susquehanna Patriot
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To: grundle

“after purchasing a new home in the pricey San Francisco Bay Area”

He retires with $3M at 34 and then lives in one of the most expensive areas of the U. S. Not a good play. He needs the Gordon Ramsey treatment.


42 posted on 02/17/2024 11:20:13 AM PST by plain talk
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To: cgbg

Think the deficit, debt, and interest on that debt don't affect you? 44% of your income taxes this fiscal year have been consumed by just interest on the debt.
No roads. No schools. No hospitals. No military.
Just. Interest.
And it's going up... pic.twitter.com/BbhIvzAipt— E.J. Antoni, Ph.D. (@RealEJAntoni) February 12, 2024


43 posted on 02/17/2024 11:20:38 AM PST by combat_boots
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To: cgbg

Or Vanguard High Yield Tax Exempt (VWAHX).


44 posted on 02/17/2024 11:23:02 AM PST by Bonemaker (invictus maneo)
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To: grundle
The FIRE people have no clue. Humans are meant to be productive most of their adult lives.

When you retire, you become mostly useless to society.

Only in modern times, we have been able to build wealth until we are 60-65 or so and be able to stop working with enough accumulated wealth to live on without having to burden others. But that is only a recent development. Before that, older people either moved into the care of their adult children or were left exposed to die.

45 posted on 02/17/2024 11:23:49 AM PST by SamAdams76 (6,575,474 Truth | 87,429,044 Twitter)
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To: cgbg; Brian Griffin; laconic; Tolerance Sucks Rocks; Trailerpark Badass; PGR88; TermLimits4All
a private Mandarin immersion school for his two kids

Someone knows what's coming...

46 posted on 02/17/2024 11:23:57 AM PST by kiryandil
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To: TermLimits4All

Please let’s all refrain from being “Mr Helper” ... helping solve obvious problems .... encouraging Bay area demonkkkraps to leave California to solve their financial problems. I want the demonkkkraps to reap what they sow.

California conservatives don’t need to be told that. They are smart enough to know if and when they need to make that decision to move out of California, which is a beautiful state, once very prosperous. Why do you think all the leftists, bums, America haters moved there? Parasites, destroyers.


47 posted on 02/17/2024 11:24:13 AM PST by Susquehanna Patriot
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To: combat_boots

If you owe the bank a thousand dollars you have a problem.

If you owe the bank a trillion dollars the bank has the problem.

Lol.


48 posted on 02/17/2024 11:25:02 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: Lazamataz

“I think it’s okay to use THEY...”

I say F they all the time!😎


49 posted on 02/17/2024 11:25:53 AM PST by Bonemaker (invictus maneo)
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To: Bonemaker

That is a good one as well.


50 posted on 02/17/2024 11:26:05 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: Susquehanna Patriot
Well, that's pretty much my point.

There is definitely a bias here towards living extremely frugally, foregoing luxury, and schadenfreude towards those who are brought down. Like the crabs-in-the-bucket metaphor used frequently.

I want to live in a country where EVERYONE can aspire to living in a nice house, in a safe neighborhood, send their kids to good schools, take vacations, have a comfortable retirement.

Even though this guy might not "get it," entirely, he's exposing the reality that if HE can't reach those dreams, those lower than him, and their children, don't have a chance in hell.

The American Dream isn't just dead, it's been raped, murdered, and multilated.

51 posted on 02/17/2024 11:29:40 AM PST by Trailerpark Badass (“There should be a whole lot more going on than throwing bleach,” said one woman)
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To: catnipman

And know when to run…..


52 posted on 02/17/2024 11:30:12 AM PST by Redcitizen
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To: Susquehanna Patriot

Yup—Dave Ramsey would lock him in a room with a budget—and when they got through cutting and slashing the guy would be spending like a normal person and saving plenty of money every year.


53 posted on 02/17/2024 11:32:41 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: kiryandil

In my youth, I wanted to learn Chinese or Japanese, but unfortunately our schools and colleges focused elsewhere:

European languages, and maybe Russian if you were lucky, but no eastern European, Middle Eastern or Oriental languages. The thinking then was “you don’t need it.” Science journals were in French, English, German or sometimes Russian.

We need talented Americans who love this country but learn these languages so we know exactly what is being said, not subject to the translator’s abilities or biases. But I get your point and it is probably true ... a Bay area person is not learning Mandarin for those purposes.


54 posted on 02/17/2024 11:33:43 AM PST by Susquehanna Patriot
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To: Trailerpark Badass

The American Dream is no longer easy—it requires a lot of common sense and frugal habits.

It requires deferring instant gratification and out of control materialism.

This is not a hard swallow—anybody can do those things.

Happiness is not a function of how much money you spend on a fancy house or fancy vacation.

Life just does not work like that.


55 posted on 02/17/2024 11:35:59 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: cgbg

While what you say is undoubtedly true, you missed my point completely.


56 posted on 02/17/2024 11:37:31 AM PST by Trailerpark Badass (“There should be a whole lot more going on than throwing bleach,” said one woman)
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To: cgbg

“If that fund fails we are in TEOTAWKI and will probably be eating our neighbors.”

exactly ...


57 posted on 02/17/2024 11:41:01 AM PST by catnipman (A Vote For The Lesser Of Two Evils Still Counts As A Vote For Evil)
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To: Trailerpark Badass

I think I got your point.

A touch less wild materialism and a little more frugality and almost anybody can live reasonably well.

It is harder than it was ten years ago—agreed—but it is still well within reach with proper life habits.

Where we might disagree is I do not want to see public schools become excellent—I want people to take responsibility for finding a way to educate their own kids.

Some things are just too important to hand off to subcontractors.


58 posted on 02/17/2024 11:41:51 AM PST by cgbg ("Our democracy" = Their Kleptocracy)
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To: grundle

Sam is a good guy. He’s mostly liberal but he has his head on straight about money/finance. I like his weekly posts.


59 posted on 02/17/2024 11:42:51 AM PST by Jonny7797
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To: cgbg

Especially the tax free part!😎


60 posted on 02/17/2024 11:46:52 AM PST by Bonemaker (invictus maneo)
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