Comments by "Ace1000ks1975" (@Ace1000ks19751982) on "Jack Morgan RLP" channel.

I am a Gen Xer, for me I am survive on an income of less than $50k/year, because my home is paid off, my car is paid off, I have no student loan debt, no credit card debts, or any other debts. Even working less than 30 hours/week, I can still have a high standard of living, because I have no debts. For younger people, this isn't the case, they may have a mortgage, car payments, student loan debts, credit card debts, and other debts. This is why they can't make it with $100k/year.
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They can't afford to pay property tax and HOI(Homeowners Insurance). Property prices go up every year. When property values go up, HOI goes up, and property taxes go up. Rents also go up. My mortgage, property tax, and HOI back in 1998 was $810/month. Today, the property tax on my home and HOI are about $1052/month. That is more than my mortgage, property tax, and HOI back in 1998!!!!!!!
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The US is doomed.
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If you majored in something like engineering, you have to develop something, and start a business with it. That is what I did with my major after I graduated. I used it to make real things and go into business for myself.
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@blackworldtraveler3711 Property tax and HOI goes up with property values. I bought my home for about $120k in 1997, and today that same home costs $665k.
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@ Property tax is a percentage of the value of your property, like 1% to 2%. Property tax for a $120k home is about $1,200/year, and HOI is based on the value of the home. For a $120k home, the HOI is about $1,000/year. For a $650k/year, 1% of that is $6,500/year, and the HOI is about $4,500 to $5,000/year.
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I gave up, because it was too much drama. Always trying to get me into a fight with other people, the chaos, and bad attitudes in general.
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People who live under financial stress resort to substance abuse, and it is a downward spiral from there.
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@ It does go up every year, because property tax is accessed by the state every year.
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@peppermintnews3161 I did buy new cars and did finance it. The last car I bought was in 2015, but I put a down payment for $25k, and financed the rest of it. What I don't do is replace a vehicle every 2 to 3 years, I keep them much longer like 8 to 12 years.
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There is no escaping it. You need to replace and maintain things, like your clothes, shoes, water heater, air conditioner, vehicle, smartphone, computer, car maintenance, house maintenance, etc. Just those things are a big drain. House had to be repainted, this cost 3,000 bucks. My car needed to be repaired, this cost 750 bucks. My water heater needed to be replaced, this cost 900 bucks. Needed to get a new smartphone due to end of support for the phone, this cost me 1000 bucks. Needed to get a new computer, because Windows 10 will not be supported next year, and this cost me 2200 bucks. My AC broke down last year, and I needed to spend 3500 bucks to get that replaced. You can't save money if you have a home, vehicle, and work in the modern economy.
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The level of entitlement, we need to scale back on this stuff. Only people with real disabilities should be getting help, not able bodied obese people.
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This is what happens when you have a heavily financialized economy. The point isn't about making the best vehicles, it is about how they can the most money. This means, putting in the cheapest parts, making it more complicated, making it more difficult to repair, and designing it in away so parts wear out faster. This way, car companies can sell more cars more frequently, and this will help them make more money.
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@fcdraw In poorer countries, you cannot survive if you don't have at least a average level of intelligence. If you an entrepreneur anywhere, you cannot make it if you don't have above average intelligence.
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This is why we have so many problems now. The government is allowing the most unproductive people to reproduce.
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They were too greedy, it's their fault.
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See, all this computerization stuff isn't good at all. When the warranty runs out, your product might stop working. We used to make jobs back in the 1980s that when the warranty runs out, that's when stuff breaks. LOL
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@dertythegrower If people's wages kept up with inflation then we wouldn't have a problem. The price of an average house in 1971 was about $30k, and today it is about $450k. The median income in 1971 was $10.5k, and today it is about $80k. The price of an average home went up 14 times, while wages went up 6.6 times. This is the problem.
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@ihunt12903 I bought my home in the late 1990s for about $100k, and today it is worth $650k. I live in California, so my property tax didn't go up much. We have different laws when it comes to property tax. In most other states, property tax is appraised every year, but not in California.
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@ihunt12903 Back in the 1990s, interest rates hovered around 5% to 6.5%, so money was more scarce. It was difficult to find any job back then. All it boils down to is, how much education you have, and is the career you picked in demand. If it is in demand, you will get a lot of work, and you will make a lot of dough. The next thing is how hard did you work? I worked 12 to 14 hours a day. I wanted to work as much as possible, pay off all my debts quickly, and enjoy life.
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@ihunt12903 I paid about 100k USD for my home in the late 1990s.Today, it is worth about 650k USD, so the price went up 5.5 X in the past 27 years.
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@suryasingh_12 That is nothing. I need to bring home at least 5000 bucks every month to maintain my standard of living. This is from a person who has no mortgage or any other debts.
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@suryasingh_12 I still want to go out to eat, go to bars, go to the ski resort, go on vacations, etc.
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@pmscalisi Not really. If you own a home, you have to deal with expenses, like maintaining your home, like painting the interior and exterior of your home, replacing the central AC, replacing the water heater, etc. All of that costs a lot of dough. The same goes with health issues. I had to get two root canals and two crowns, and it cost me about 3k. I don't spend much on unnecessary things. I only own like 3 pairs of shoes, and I have handful of clothes. The lion share of expenses is used on business expenses and expenses for my home, vehicle, health, etc.
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