- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
2
Posted on 1/8/24 at 7:16 pm to thefodgather
quote:
People have been saying there will be a revolution any day since 2007.
People said it for almost 100 years before the first one
Posted on 1/8/24 at 7:16 pm to stout
Jesus. I thought I was doing bad at 60k at 35.
Posted on 1/8/24 at 7:17 pm to GreatLakesTiger24
quote:I was watching something the other day demonstrating the Great Recession has a more lasting impact on this age group than others.
the "elder millennials" who "feel like they're more gen x" aren't doing that great? interesting
Posted on 1/8/24 at 7:17 pm to stout
quote:
If people sold that asset would they have to spend all of their equity from it to buy another house or just choose to be homeless?
I kind of agree that home equity skews net worth and most people will never use any of it other than for loans to pay off remodels or other debt
Posted on 1/8/24 at 7:19 pm to stout
quote:
It only matters if you can somehow downsize and/or get a cheaper house. Outside of that, it's pretty null unless you choose to be homeless or become a renter
This is simply not true. Home equity is real value and can be accessed.
And yes, it can decrease in a crash, just like stock values.
Posted on 1/8/24 at 7:20 pm to stout
Sucks for them. I’m 94th percentile according to that calculator.
Posted on 1/8/24 at 7:20 pm to stout
There isn’t a great excuse for it to be this low, and thankfully I’m well above that.
I’ll just say as a 40 year old since graduating college I immediately walked into a nonexistent job market due to the housing crisis, 10 years later the world turned upside down due to Covid, and have only had the luxury of a republican president for 4 of the last 16 years
It hasn’t exactly been the land of milk and honey for many…
I’ll just say as a 40 year old since graduating college I immediately walked into a nonexistent job market due to the housing crisis, 10 years later the world turned upside down due to Covid, and have only had the luxury of a republican president for 4 of the last 16 years
It hasn’t exactly been the land of milk and honey for many…
Posted on 1/8/24 at 7:21 pm to PhiTiger1764
quote:
Home equity is real value and can be accessed.
A reverse mortgage? Sure I guess. I wouldn't care to have to rely on that in my old age.
Posted on 1/8/24 at 7:22 pm to stout
I'm 44 and make just over $60k and do just fine.
Posted on 1/8/24 at 7:22 pm to stout
quote:
That's not what that chart shows. It shows 40-44 year olds with $6.7+ million are the 1%
You had to ruin it, didn’t you.
Posted on 1/8/24 at 7:23 pm to stout
quote:
Even scarier for these people is that social security might not exist in 20 years when they hit retirement age.
Looks like the 60 year olds are in just as bad of shape
Difference is they're running out of time to catch up
Posted on 1/8/24 at 7:23 pm to stout
Damn well spread your bootycheeks and get wild then!!!
Posted on 1/8/24 at 7:25 pm to cheobode
quote:
I'm 44 and make just over $60k and do just fine.
I'm 43 and would probably want to kill myself if I made 60k
But good on you for being able to manage your money well. I could probably take a few pointers
Posted on 1/8/24 at 7:30 pm to stout
Heloc
Posted on 1/8/24 at 7:30 pm to PhiTiger1764
quote:
Heloc
Then what?
Posted on 1/8/24 at 7:32 pm to deltaland
quote:Because it's not liquid.
Why exclude home equity? That’s a pretty big wealth builder
Posted on 1/8/24 at 7:35 pm to stout
I was intentionally house poor for a long time. Bought a double lot to subdivide and had tenants in in-law suites until we had kids. Subdivided, sold, bought rental properties. So never had much cash on hand.
I assume that is atypical but seemed like the thing to do, to me. Tax advantages, income, long-term equity.
I assume that is atypical but seemed like the thing to do, to me. Tax advantages, income, long-term equity.
Posted on 1/8/24 at 7:35 pm to stout
So this instantly became a brag thread
Posted on 1/8/24 at 7:37 pm to stout
quote:Why would one exclude a major asset class? Is this like calculating inflation without energy and housing?
Excluding home equity
Page 3 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News