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re: 3/4s of millennials are more than $100,000 in debt, most not from mortgages
Posted on 8/2/22 at 10:14 pm to Turf Taint
Posted on 8/2/22 at 10:14 pm to Turf Taint
quote:
Today, only about one-fourth of millennials (28%) are debt-free. Of those, about 1 in 3 (34%) have never had debt, while 1 in 4 (25%) have paid off their debts within the past year
There is no way this is close to true. Wait, I read that wrong
This post was edited on 8/2/22 at 10:22 pm
0
Posted on 8/2/22 at 10:14 pm to TigerintheNO
Millennial checking in here to brag. I only have house debt and working hard to pay that down in the next decade!
Posted on 8/2/22 at 10:16 pm to tigafan4life
Lots of people maxed out at $60k or so and then paid them minimum on an income based repayment plan and it ballooned to 6 figures. If you want to get depressed go venture over to the student loan sub reddit. They do have all the info on how to get forgiveness if you qualify for a PSLF so it is useful, but damn is it depressing for those that go for the 25 year forgiveness... it's not really any better than just paying off your loans on time though.
Posted on 8/2/22 at 10:18 pm to MrSpock
quote:
Let's romanticize a bunch of third world shitholes.
Tell me youve never been to Costa Rica or Thailand, etc without telling me .
But honestly, im glad most Americans have your attitude or else those countries would be far more expensive to live in.. enjoy being caught in the crushing debt cycle here .
Posted on 8/2/22 at 10:20 pm to BK Lounge
Main problem is a lot of US remote jobs won't really let you live in another country
Posted on 8/2/22 at 10:21 pm to armsdealer
quote:
If you want to get depressed go venture over to the student loan sub reddit. They do have all the info on how to get forgiveness if you qualify for a PSLF so it is useful, but damn is it depressing for those that go for the 25 year forgiveness... it's not really any better than just paying off your loans on time though.
Yea I don't quite understand that route. Seems like a fricking horrible trade off.
Posted on 8/2/22 at 10:26 pm to BK Lounge
quote:
Agreed, on most of ur post.. but how is it a ‘scam’ to live in Mexico while making US dollars working remotely ? It’s the exact same thing im planning to do while living in Costa Rica or Thailand.. there’s actually a term for it: Geographic Arbitrage.. leveraging your ability to make first-world money while living a ‘developing country’ life with the accompanying prices.. and it’s 100% legal .
You are still paying what is generally your largest bill, taxes. Unless of course you plan on giving up that blue passport. You can definitely benefit from some COL savings but Uncle Sam still takes his part no matter where you live.
Posted on 8/2/22 at 10:27 pm to BeerMoney
quote:
What the frick are they doing?
Trying to eat if I had to guess.
Posted on 8/2/22 at 10:28 pm to BK Lounge
quote:
Tell me youve never been to Costa Rica or Thailand, etc without telling me
I guarantee you I've lived on more countries and continents than you.
And those countries still have shanty towns. Third world shitholes that can't take care of their own citizens.
There's a reason your dollars stretch to the max.
Posted on 8/2/22 at 10:33 pm to MrSpock
quote:
There's a reason your dollars stretch to the max.
Local wages. Which, if you work remote for an American company, is not a problem.
Posted on 8/2/22 at 10:34 pm to BK Lounge
quote:
UK, Australia, US…is all the same
Hear u on nice parts of developing countries but do not hear u on US expense profile versus world (UK, for example). At all.
Posted on 8/2/22 at 10:36 pm to justaniceguy
quote:
Local wages. Which, if you work remote for an American company, is not a problem.
There's very few American companies that are going to let you work an American job with an American salary abroad.
If they even let you work they're going to index your salary way down and more likely they aren't going to let you work anywhere they don't already have operations
Posted on 8/2/22 at 10:37 pm to aTmTexas Dillo
quote:
us Boomers, adopt a millennial. Mentor them.
Is this what they tell the wife the money to the Sugar Babies goes towards?
Posted on 8/2/22 at 10:40 pm to Mingo Was His NameO
quote:
If they even let you work they're going to index your salary way down and more likely they aren't going to let you work anywhere they don't already have operations
This has been my experience as someone who has worked multiple international postings. You also need to be aware of local visa requirements and local tax burdens.
This post was edited on 8/2/22 at 10:42 pm
Posted on 8/2/22 at 10:42 pm to MrSpock
quote:
And those countries still have shanty towns. Third world shitholes that can't take care of their own citizens.
well USA has shanty towns, and USA has third world shithole areas where they can't/don't/won't take care of their citizens. And the issue is getting worse, not better.
I think BK Lounge has the right idea and is ahead of the curve, as long as you have a good paying remote job. That said there are some realities to living in a 2nd/3rd world country depending where you're at, the locals kind of expect you to 'spread the wealth' as it were. tip generously, hire housekeepers, that sort of shite.
As to why I think he's ahead of the curve in looking at the 2nd/3rd world...
well I don't think many millennials will be able to 'retire comfortably' like previous generations have. they'll look for other options rather than dodging bullets in section 8 housing.
This post was edited on 8/2/22 at 10:50 pm
Posted on 8/2/22 at 10:46 pm to Mingo Was His NameO
quote:
There's very few American companies that are going to let you work an American job with an American salary abroad. If they even let you work they're going to index your salary way down and more likely they aren't going to let you work anywhere they don't already have operations
What is this “let” stuff you keep saying ? Start your own company online… Lots of people do that; i personally know a couple of them who have done very well.. And even if you’re not making much money at first, living in a LCOL country gives you the runway to live very cheaply (and well) while building your business .. btw i find it hilarious how people on here are always espousing the virtue of living in low cost of living areas of the US, but dont feel the same about living in low cost of living areas of the world .. Go ‘Merica, i guess .
Posted on 8/2/22 at 10:47 pm to TigerintheNO
I don’t know why people can’t believe this. There are a shite load of millennials. Us on this board are a blip.
Posted on 8/2/22 at 10:49 pm to BK Lounge
quote:
What is this “let” stuff you keep saying ? Start your own company online…
What are you going to do? Does the industry you're going to be working in/with have data protocols that let their data travel outside of the US or to one man shops with low controls?
Are you going to have the correct visas?
Are you going to have to incorporate/form in the US to solve either enterprise or visa issues, then being subject to US taxes?
You're half baked idea isn't as easy as you want it to be.
Posted on 8/2/22 at 10:52 pm to dgnx6
quote:
I don’t know why people can’t believe this. There are a shite load of millennials. Us on this board are a blip.
Because it’s WAY out of whack with virtually every other survey or study of this type of thing.
Do you really think the average millennial with student loans is carrying 126k of SL debt?
Posted on 8/2/22 at 10:53 pm to JohnnyKilroy
quote:
Do you really think the average millennial with student loans is carrying 126k of SL debt?
These MF'ers "believe," create, all sorts of shite that has no basis in fact
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