Anler Posted January 14, 2020 Share Posted January 14, 2020 28 minutes ago, snoughnut said: Most of the retired boomers I know are living like gluttonous slobs, they're doing better than they deserve. I know a lot who have gambled it all away. reverse mortgage and whatever else they could suck money out of. Its pretty disgusting. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 14, 2020 Platinum Contributing Member Share Posted January 14, 2020 9 minutes ago, Anler said: I know a lot who have gambled it all away. reverse mortgage and whatever else they could suck money out of. Its pretty disgusting. Shit Ive seen folks of all ages who don't pay the electric bill. They pay the shut off notice. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 14, 2020 Share Posted January 14, 2020 8 minutes ago, Anler said: I know a lot who have gambled it all away. reverse mortgage and whatever else they could suck money out of. Its pretty disgusting. nothing wrong with a reverse mortgage. Allows them to stay in their house and have cash to live their life. Why should they leave it paid off, so their spawn can inherit it. I think inheritances should be taxed higher so the silver spooners have to man up and fend for themselves Quote Link to comment Share on other sites More sharing options...
Anler Posted January 14, 2020 Share Posted January 14, 2020 1 minute ago, steve from amherst said: Shit Ive seen folks of all ages who don't pay the electric bill. They pay the shut off notice. Have 2 people at work with neighbors who have people living in their dettached garages... Pretty sure there are ordinances about that. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 14, 2020 Platinum Contributing Member Share Posted January 14, 2020 1 minute ago, Anler said: Have 2 people at work with neighbors who have people living in their dettached garages... Pretty sure there are ordinances about that. I had a dude that worked for me about 10 yrs ago. Mid 40's. Never even had a checking account. Or savings for that matter. Laughed at the thought of a retirement account as he figured he would be dead long before retirement. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 14, 2020 Platinum Contributing Member Share Posted January 14, 2020 I gave the dude a raise that I was real reluctant to give him. He destroyed his life with in 4 months. Now instead of drinking 5 days a week , he could afford to drink 7. So he did. Quote Link to comment Share on other sites More sharing options...
Anler Posted January 14, 2020 Share Posted January 14, 2020 3 minutes ago, Angry ginger said: nothing wrong with a reverse mortgage. Allows them to stay in their house and have cash to live their life. Why should they leave it paid off, so their spawn can inherit it. I think inheritances should be taxed higher so the silver spooners have to man up and fend for themselves I dont disagree with you except the ones I am referring to used it to gamble with because they already gambled away their retirement savings. Quote Link to comment Share on other sites More sharing options...
Anler Posted January 14, 2020 Share Posted January 14, 2020 1 minute ago, steve from amherst said: I had a dude that worked for me about 10 yrs ago. Mid 40's. Never even had a checking account. Or savings for that matter. Laughed at the thought of a retirement account as he figured he would be dead long before retirement. I had a good friend that I worked with for years, was a great worker and a good guy. Years went by and I started this gig up and he went to work for a competitor. Long story short he got a divorce and crawled into a bottle. The company he was working for offered to send him to treatment and he got all pissed and quit. Called me up for a job, I already knew what was going on so I made him enter a program as a condition of employment. dude ended up getting 2 dui's and then had a seizure while driving to work, ran a red light and killed an elderly man standing at a bus stop. Went to jail for a couple years, got cleaned up in the joint so I hired him back. 6 months later he was having liver failure from drinking so much. Im like wtf man? Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 14, 2020 Share Posted January 14, 2020 16 minutes ago, Angry ginger said: nothing wrong with a reverse mortgage. Allows them to stay in their house and have cash to live their life. Why should they leave it paid off, so their spawn can inherit it. I think inheritances should be taxed higher so the silver spooners have to man up and fend for themselves Its already taxed so no. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 14, 2020 Share Posted January 14, 2020 13 minutes ago, steve from amherst said: I had a dude that worked for me about 10 yrs ago. Mid 40's. Never even had a checking account. Or savings for that matter. Laughed at the thought of a retirement account as he figured he would be dead long before retirement. Gotta laugh at those playing Russian Roulette with their lives. You might live a long life dummy. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 14, 2020 Share Posted January 14, 2020 27 minutes ago, ArcticCrusher said: Its already taxed so no. actually depending on what assets the estate holds. Great example of that would be properties where some of the income was not taxed during the owners life due to depreciation and there is no recapture of that depreciation because of the stepped up basis at inheritance. Same with inherited stocks which are stepped up therefore avoiding capital gains taxes. Capital gains taxes on the original owner should be collected at death IMO minus a small baseline inheritance exception that would cover the majority of American families @ say $500,000. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 14, 2020 Share Posted January 14, 2020 52 minutes ago, Angry ginger said: nothing wrong with a reverse mortgage. Allows them to stay in their house and have cash to live their life. Why should they leave it paid off, so their spawn can inherit it. I think inheritances should be taxed higher so the silver spooners have to man up and fend for themselves Wrong and of course you would say that because you're in the biz, reverse mortgages are for dumb people who are easily fooled by people like you. I would much rather leave a paid off property to my kin than let banker scum get their teeth in it, fuck that. I'm sure you probably think Dave Ramsay is an idiot also. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 14, 2020 Share Posted January 14, 2020 43 minutes ago, snoughnut said: Wrong and of course you would say that because you're in the biz, reverse mortgages are for dumb people who are easily fooled by people like you. I would much rather leave a paid off property to my kin than let banker scum get their teeth in it, fuck that. I'm sure you probably think Dave Ramsay is an idiot also. Dave Ramsey over simplifies things for dumb people which is fine many need that but would you rather have your parents live like they deserve or have no fun just so you inherit something. personally I don't think parents owe their kid a dime when they die, feel free to spend it all. People who sit there just waiting for parents to die because they made bad choices disgust me, then they usually get into a tug of war with their siblings over who gets what or who got more while they were alive. FTR I don't do reverse mortgages nor have I ever but my old man who also spent 40 years in the mortgage business bought their retirement home with one, gave them another $140k to spend on travelling and having fun. They cruise 3-4 times a year, gold 3-4 days a week and go out 3-4 days a week. When they die i can decide to payoff the property if it's worth more but it it's not we can just walk away, easy peasy. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 14, 2020 Share Posted January 14, 2020 11 minutes ago, Angry ginger said: Dave Ramsey over simplifies things for dumb people which is fine many need that but would you rather have your parents live like they deserve or have no fun just so you inherit something. personally I don't think parents owe their kid a dime when they die, feel free to spend it all. People who sit there just waiting for parents to die because they made bad choices disgust me, then they usually get into a tug of war with their siblings over who gets what or who got more while they were alive. FTR I don't do reverse mortgages nor have I ever but my old man who also spent 40 years in the mortgage business bought their retirement home with one, gave them another $140k to spend on travelling and having fun. They cruise 3-4 times a year, gold 3-4 days a week and go out 3-4 days a week. When they die i can decide to payoff the property if it's worth more but it it's not we can just walk away, easy peasy. Justify it however you want dude but RM's are bull fucking shit, period as are most products that are pushed by the huckster banking industry. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 14, 2020 Share Posted January 14, 2020 17 minutes ago, snoughnut said: Justify it however you want dude but RM's are bull fucking shit, period as are most products that are pushed by the huckster banking industry. wrong. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 14, 2020 Share Posted January 14, 2020 1 hour ago, Angry ginger said: actually depending on what assets the estate holds. Great example of that would be properties where some of the income was not taxed during the owners life due to depreciation and there is no recapture of that depreciation because of the stepped up basis at inheritance. Same with inherited stocks which are stepped up therefore avoiding capital gains taxes. Capital gains taxes on the original owner should be collected at death IMO minus a small baseline inheritance exception that would cover the majority of American families @ say $500,000. I was commenting on your statement they should be taxed higher just because. I would rather see my kid waste it all than give the government a dime more. 2 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 14, 2020 Share Posted January 14, 2020 21 minutes ago, snoughnut said: Justify it however you want dude but RM's are bull fucking shit, period as are most products that are pushed by the huckster banking industry. They are for those whos planning fell a little short. 1 Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted January 14, 2020 Share Posted January 14, 2020 I am shocked at the money a lot of these,30yr olds are dropping on bathrooms and kitchens . was not long ago the big money jobs were mostly people north of 40 . Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 14, 2020 Share Posted January 14, 2020 (edited) 3 hours ago, snoughnut said: Sorry the truth bothers you, carry on. What you posted is liberal trash. You’re deciding how much money a particular individual is supposed to posses and spend. Edited January 14, 2020 by spin_dry Quote Link to comment Share on other sites More sharing options...
XC.Morrison Posted January 14, 2020 Share Posted January 14, 2020 3 hours ago, ArcticCrusher said: Its already taxed so no. I'm pretty sure all of the money currently in circulation has already been taxed at one time or another. So we're done with taxes then I guess? Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 14, 2020 Share Posted January 14, 2020 26 minutes ago, spin_dry said: What you posted is liberal trash. You’re deciding how much money a particular individual is supposed to posses and spend. That's a perfect definition of you. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 14, 2020 Share Posted January 14, 2020 35 minutes ago, XC.Morrison said: I'm pretty sure all of the money currently in circulation has already been taxed at one time or another. So we're done with taxes then I guess? Try to follow along. 1 Quote Link to comment Share on other sites More sharing options...
ManOnManOral Posted January 15, 2020 Share Posted January 15, 2020 10 hours ago, Angry ginger said: Single millennial making 100k should be able to make it work just about anywhere but they want to live life in the moment and instant gratifications expensive. I was making 100k+ at 24 years old but I wasn't a spender till my 30's. Leasing luxury cars, renting in the best part of the city and dining out all the time will eat up 100k in a hurry. 1 Quote Link to comment Share on other sites More sharing options...
motonoggin Posted January 15, 2020 Share Posted January 15, 2020 10 hours ago, frenchy said: $100k plus eh? But noggin says it's the slave wages that are keeping those poor millennial souls down under the boots of the factory owners. Which is it? Lmao, how many are making six figures? This is an article about like 1000 people 2 Quote Link to comment Share on other sites More sharing options...
SSFB Posted January 15, 2020 Share Posted January 15, 2020 1 minute ago, motonoggin said: Lmao, how many are making six figures? This is an article about like 1000 people 1000 people Quote Link to comment Share on other sites More sharing options...
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