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Originally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... View Quote View All Quotes View All Quotes Originally Posted By RIP-Yataski: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. But that sweet, sweet taxpayer funded pension... My sister in law was a teacher and retired a millionaire before 50. That pension is a big part of it but she will get no Social Security. |
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i'm your huckleberry. that's just my game.
MT, USA
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dave ramsey is a silly cunt who dispenses advice to b**mas who can't handle a credit cahd.
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I have a dream that my four children will one day live in a nation where they will not be judged by the colour of their skin but by the content of their shitpoast. - sierra-def
membership courtesy of TMS. thanks buddy! |
Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. View Quote Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. |
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Originally Posted By MachRider: I can't believe he put teachers over doctors, dentists, nurses, and actuaries. View Quote Well there are a lot more teachers than those other professions you mention. It wasn’t a study of how many teachers per 1000 teachers are millionaires, how many engineers per 1000 engineers are millionaires, etc, it was a study of what the top professions were of millionaires. Big difference. Basically- people who are good with numbers have a good chance of making the list, as do people with good pensions, etc. Being fairly stable in your income allows for more productive saving and investing. Being able to do math makes it easier to go “hmmm, I should do XYZ”. |
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a loaded gun won’t set you free, so they say…
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Originally Posted By miseses: My old landlord was a cheap bastard. My state has a law that if the A/C fails and the landlord does not respond within a certain time you can call a contractor to fix it for you and then deduct it from the rent. I got all my ducks in a row, sent the request via certified mail, got all the receipts and communications then when the clock ran out I called the contractor and he put in a $100 ebay tier motor for like $750. Landlord knew it was a crock of shit but he could do nothing as I had all the paperwork exactly as stipilated in the law. The sound of him on the phone was priceless once he realized just how much it cost him for ignoring replacing a very cheap component. View Quote Did he renew her lease when it was up, or just raise the rent to compensate for your actions? |
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It's true no matter who you are, the worst thing you can do for someone is give them something for nothing. - 3rdpig
Do not handicap your children by making their lives easy. - Heinlein |
Originally Posted By deanwormer: Boomers lived through a mostly bull stock market and had cheap houses that are now worth a ton. Any of them that aren’t >$1M net worth are massive financial losers. View Quote well.. if they sent their kids to college and took out loans and lived in macmansions its very possible they dont have that much. divorce, if it involved kids also can be a huge drain on net worth. |
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Originally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... View Quote View All Quotes View All Quotes Originally Posted By RIP-Yataski: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. But that sweet, sweet taxpayer funded pension... May even be able to double dip. |
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What do most teachers do during summer?
My wife said they tried to work in her day started teaching the 70's |
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Live your life as you would wish to have lived, when you come to die. Confucius
When words lose their meaning, a people can move neither hand nor foot. Confucius |
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A million ain't worth a dime anymore
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Originally Posted By MikeMilligan: This web site has taught me a lot and there’s a ton of smart people here…But the Dave Ramsey hate that’s so frequent here is really disappointing. He’s helped a lot of people. A lot. Successful people should want to teach others. Someone who did well for himself by a different method than he teaches should want to say right on man, keep helping people…You would think. View Quote If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. |
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subversive orchestrator
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Originally Posted By CTYC313: Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. View Quote View All Quotes View All Quotes Originally Posted By CTYC313: Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. Are they new, working in poor districts, and not taking on additional responsibilities? I know one who has been making over $100k a year for at least 15 years. Not sure how much she is up to now. My wife is retired teacher. Money firm and us calculated the actual net worth of her pension and health insurance for life when she decided to retire. The present value of that, in today’s dollars, came out to 4.5 million using a 4% withdrawl rate, inflation, health insurance, etc. HI is a huge part of that value. And when I retire I jump on hers. |
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20 years ago would you be impressed if someone was worth $500k?
I wouldn’t have been. Thats a millionaire today, I have catching up to do of my own, but if I don’t have at least $3 million in cash/investments when I retire in 25 years, I’m probably screwed. I better hurry the fvck up. |
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Originally Posted By Colt1860: If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. View Quote View All Quotes View All Quotes Originally Posted By Colt1860: Originally Posted By MikeMilligan: This web site has taught me a lot and there’s a ton of smart people here…But the Dave Ramsey hate that’s so frequent here is really disappointing. He’s helped a lot of people. A lot. Successful people should want to teach others. Someone who did well for himself by a different method than he teaches should want to say right on man, keep helping people…You would think. If the subject was alcohol and his audience was alcoholics, his advice would be 100% appropriate. That's why some people get so worked up about it. Those people who get so worked up about it should stop and think though, most of the people who listen to Dave Ramsey and think his advice is a revelation, are exactly the kind of people who should be listening to Dave Ramsey. A bunch of them probably have $80k in credit card debt from building a monster truck in their back yard. A ton of broke or broken families in the US these days. I would say the majority of people have no guidance or example for how to handle money. His simple message of living below your means is basic, effective and consistent with conservative values. It helps a ton of people. So of course a bunch of people here hate it for whatever reason. |
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Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. View Quote School administrators, University professors that have additional incomes from research grants and consulting (think pharmaceuticals/aerospace), University presidents, and highly paid coaches all consider themselves to be classified as educators. This most likely skewed the survey results. In my poor state, there are quite a few public school administrators that are over $200K and many more that are in the $150K to $200K salary range. Then after retirement they get a job working for one of the companies that their school bought "stuff" from. |
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He who covers his sins will not prosper,
But whoever confesses and forsakes them will have mercy. |
Originally Posted By Kingstrider: Lol teacher what is that guy smoking? Most teachers I know don't make squat. View Quote someone who is likely married to someone who makes more than them. someone with guaranteed income, with a set retirement, staying in the same home for decades. million net worth isnt what you think it is. |
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Originally Posted By Missilegeek: A ton of broke or broken families in the US these days. I would say the majority of people have no guidance or example for how to handle money. His simple message of living below your means is basic, effective and consistent with conservative values. It helps a ton of people. So of course a bunch of people here hate it for whatever reason. View Quote This is 100% correct. True story. Looooong before I ever heard of Ramsey I was doing the basics that he advocates - no bad debt, living below my means, etc. Then, when I finally heard his show, I said to myself, "Self, I'm already doing this stuff." Most of it is intuitive if you have any money sense about you. Sadly, most people don't. |
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Originally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! View Quote Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. |
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Being a millionaire doesn't mean what it used to. Pretty soon it will just mean you're in what is left of the middle class.
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Silly Sammy Slick sipped six sodas and got sick sick sick.
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Originally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! View Quote View All Quotes View All Quotes Originally Posted By UV18: Originally Posted By RIP-Yataski: But that sweet, sweet taxpayer funded pension... Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. |
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Engineers, huh?
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"GD: serious answers to ridiculous questions and ridiculous answers to serious questions" --Naamah
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a loaded gun won’t set you free, so they say…
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Originally Posted By boolzi: Eh.. we’re all drunks, druggies, and white trash idiots.(to them) View Quote View All Quotes View All Quotes Originally Posted By boolzi: Originally Posted By SavedByTheBlood: Originally Posted By CVO: According to ARFCOM, its the guys that replace HVAC capacitors. And in true Arfcom fashion someone comes along to poop on the skilled trades. Eh.. we’re all drunks, druggies, and white trash idiots.(to them) You’re Drunk Right Now, Aren’t You? Tell the truth. |
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GD- "It's kind of like wading through through slimy lake bed with your feet to find clams below the surface".
- gtfoxy |
Entitlements
Inhibit Ambition Compassion is a character flaw |
Originally Posted By deanwormer: Boomers lived through a mostly bull stock market and had cheap houses that are now worth a ton. Any of them that aren’t >$1M net worth are massive financial losers. View Quote Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. |
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a loaded gun won’t set you free, so they say…
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Originally Posted By lokifox: I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. View Quote This is the missus and I. The RMD sucks, but it's the Law. |
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Originally Posted By Lou_Daks: Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. View Quote View All Quotes View All Quotes Originally Posted By Lou_Daks: Originally Posted By UV18: Shhh.... that is their million dollar nest egg that they like to not talk about. No need for a 401k, IRA, 457b, or any other savings. With that cushy cash coming in, why bother!! Why not do it all? Pension + 401k + rentals + brokerage account + SS = winning. You forgot the 457b and 403. |
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Silly Sammy Slick sipped six sodas and got sick sick sick.
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Winner of Most FPNI 2018, 2022, 2023
KS, USA
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Originally Posted By RedAngus: Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. View Quote 1945 to 2008 is pretty cherry picked dude. In fact it's about as cherry picked as you can get. |
Make Occam's Razor Great Again
It's not about if you win or lose. It's about how many rules they have to add afterwards. |
Originally Posted By Lou_Daks: This is the missus and I. The RMD sucks, but it's the Law. View Quote View All Quotes View All Quotes Originally Posted By Lou_Daks: Originally Posted By lokifox: I know several who never touched their deferred comp until they were required to do so by law. It's amazing how a meager account can blast into outer space when you only need your pension to live. This is the missus and I. The RMD sucks, but it's the Law. Enjoy it!! Life is short. |
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Somewhere in the middle of hardcore Conservative and Libertarian.
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Originally Posted By madmathew: I had no idea that that many doctors weren't making 6 figures. View Quote Surprisingly, medical doctors and physicians didn’t make the top five. They came in sixth position because, as Ramsey put it, even though “they make a lot of money” they’re “notoriously bad” at managing it. “The interesting thing is, one third of them, 33% made less than $100,000 a year,” said Ramsey. “They were not making bank. They were not earning their way into it real quick.” Dunno where he got his info, but it’s absolute bullshit. There’s no way that is true. |
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GD- "It's kind of like wading through through slimy lake bed with your feet to find clams below the surface".
- gtfoxy |
Originally Posted By RedAngus: Hmmm. Not a Boomer, but looking back, from roughly 1945-2008 the DJIA went from about 2,500-10,000. From 2008-2024 it went from roughly 10,000-38,900. 4X increase in 60 years, then another 4X in 16 years. Real estate has been about the same. The last couple decades of But keep hating on Boomers. View Quote Yup. Much of the "increase" is just inflation, fueled by a devaluation of the USD. It is also fueled by institutional investors trying get some semblance of a return, plus the explosion of 401k-type accounts that are on auto-pilot buying stocks/funds. Pre-401k, you had to want to invest in the stock market and seek it out. Now it's an automatic no-brainer for most participants. Fortunately I saw this coming early and rode the wave. The wave is still there, you just have to jump on it. Start in your 20s and let it rip. |
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Teacher? I'm just a dumb electrician making 3x or 4x what teachers make in my AO.
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Originally Posted By brandyspaw: Yeah, to obtain a million dollar net worth is not that big a deal in this day and age. I think almost anyone with a halfway decent income stream can obtain that goal if they are disciplined with their spending and diligent in their investments. I think its far more dependent upon the individual than what their profession is. You do have to be making a decent income but not being stupid with your money is far more important. View Quote Define "big deal". The stats say between 5% and 8% of Americans have a net worth of greater than $1M. By definition that's a small minority of the population, no matter what GD says. From Forbes, and supporting Ramsey's claim: "Tim Corley, a wealth expert and author, has spent years interviewing hundreds of millionaires to learn their habits and how they think. His research concluded that 20% of millionaires made their first million in their mid-to-late 30s, despite having middle-class incomes. They accumulated wealth by practicing frugality and regularly saving and investing about 20% or more of their income." The making of a millionaire I was living large, and paycheck to paycheck as enlisted military until marrying a bookkeeper in my early 30s. We live well. |
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"Cease quoting laws to us who have swords"
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The Desert is My Church... and Hunting is My god
ID, USA
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Teachers in large districts make a lot of money, great benefits and plenty of time to work a second job during extended vacation times. These numbers probably include professors at Universities, who also make a damn good wage. Them being on that list does not surprise me.
I also recommend the book, "The Millionaire Next Door". |
"The Desert is My Church and Hunting is My god..." - Me
www.Varminter.com |
Originally Posted By Lou_Daks: The bolded part is exceedingly important for becoming financially independent. Most people won't do it. It's like being in shape. Easy to talk about, harder to do because most people are lazy - let's be honest. View Quote Yes, saving and worrying constantly about retirement when your body is healthy and life demands is low is absolutely. We all should ensure that when we’re 75 and riddled with cancer that we have plenty of money to piss away in nursing homes and random new car purchases (that we can’t drive). |
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Forgot politician.
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