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re: Thought I'd share the biggest personal finance train wreck ever seen
Posted on 11/1/18 at 5:08 am to RebelExpress38
Posted on 11/1/18 at 5:08 am to RebelExpress38
I remember that article. There were also others. Those kids were getting $150k a year, then realizing that the cost of living in Silicon Valley was outrageous.
One I remember was a kid getting a 10x20 apt for a little less than $4k a month.
This particular couple in Vegas can barely afford a tent. She wants to return to school and let him try and cover all their expenses, plus her student loan payments. She has ruined her life and is trying to make sure he is screwed too.
He should run like a scalded monkey.
One I remember was a kid getting a 10x20 apt for a little less than $4k a month.
This particular couple in Vegas can barely afford a tent. She wants to return to school and let him try and cover all their expenses, plus her student loan payments. She has ruined her life and is trying to make sure he is screwed too.
He should run like a scalded monkey.
0
Posted on 11/1/18 at 5:31 am to foshizzle
He said he’s been in the country 2.5 years. Dude needed a green card. Only explanation for him marrying this woman.
Posted on 11/1/18 at 6:39 am to foshizzle
I’ve told this story here a couple times, but I had a couple making just north of 200k/yr buying a 600k house and we had to push back closing so they’d have cash to close and we’re doing a 90/10 loan. They called from Bahamas to push back closing. They literally had no savings. No IRA/401k. They lived paycheck to paycheck in the 5th percentile income bracket. Luckily they were buying new construction and the builder was flexible for extending closing.
Posted on 11/1/18 at 6:42 am to Tester1216
quote:
pink starburst smelling
Whaaaa? Never heard that before? Meaning?
Posted on 11/1/18 at 6:55 am to ItNeverRains
My girlfriend has some friends that are definitely in that situation. Their lifestyle stresses me out because I know they don’t make enough to support such lavish spending.
They are likely in the top 25% of earners as a household yet I know they are stuck with a lot of CC debt and that was before a two week trip to Europe.
They are likely in the top 25% of earners as a household yet I know they are stuck with a lot of CC debt and that was before a two week trip to Europe.
Posted on 11/1/18 at 7:15 am to foshizzle
Sound like the typical "buyers" for House Hunters International
Posted on 11/1/18 at 7:16 am to foshizzle
There is going to be a financial reckoning in this country. It is going to make 2008 and all the defaulting losers not look so bad when it is over.
Posted on 11/1/18 at 7:20 am to ItNeverRains
quote:
but I had a couple making just north of 200k/yr buying a 600k house
Is that a big deal
I know of people making the same amount and buying house almost double that price.
Posted on 11/1/18 at 7:20 am to Koach K
It’s too widespread especially millenials with debt. It will be chaos but no idea how it will get resolved.
This post was edited on 11/1/18 at 7:22 am
Posted on 11/1/18 at 7:40 am to TheMailman
quote:
Is that a big deal
I know of people making the same amount and buying house almost double that price
They could not close because they didn’t have the $ to bring to closing. They notified us of this in the Bahamas. So they had money to go to the Bahamas but not honor a contract. The trip was booked after the contract to purchase. They do not have an IRA, 401k, pension, or savings account. They make 212,000 combined income a year.
That’s a big deal
Posted on 11/1/18 at 7:54 am to ItNeverRains
quote:
They do not have an IRA, 401k, pension, or savings account. They make 212,000 combined income a year. That’s a big deal
I really don’t understand how that’s physically possible.
My wife and I are teachers and I had a 4 year stint of low income with a few bad financial decisions. We still have savings, zero debt, and a bright future that will come to fruition pretty quickly. We even spend too much on food and still take a decent vacation every 6 months.
How someone can make double we make and have little to nothing to show for it is baffling.
Posted on 11/1/18 at 8:12 am to Peazey
quote:
Can't you get good jobs with a degree in math? Something technical I would think?
They live in fricking Vegas, which is full of casinos. How does she not have a good job with her math degree? Laziness is the only answer.
Posted on 11/1/18 at 8:16 am to BigPerm30
quote:
She’s going to become a nurse and dump his arse for a doctor.
At that age? Doubtful.
Posted on 11/1/18 at 8:22 am to foshizzle
They’ll be on HGTV with a $1.2m budget for their 2nd home in no time. 
Posted on 11/1/18 at 8:29 am to foshizzle
quote:What is this bullshite? This should have been a non-starter as far as marriage was concerned.
Has $280k in student loans...She has two degrees -...the other in ... Chinese herbal medicine.
Posted on 11/1/18 at 8:48 am to foshizzle
quote:
She has two degrees - one in math and the other in ... Chinese herbal medicine.
quote:
Despite her previous educational problems, their plan is for her to attend nursing school and hope to get loan forgiveness down the road since it's a medical field.
He should dump that liberal idiot. She'll be like a financial ship anchor in his live.
I see a very unhappy future for this bata....
Posted on 11/1/18 at 8:49 am to foshizzle
The comments are solid gold!
One guy says they shouldn't even be looking at buying a puppy
One guy says they shouldn't even be looking at buying a puppy
Posted on 11/1/18 at 8:52 am to foshizzle
I don't know.. if they can get/keep houses,cars etc in his name and don't care about income tax returns too much, it shouldn't be too much of a problem. Use the can't come after me for student loans when i'm dead solution. She's only paying $45/mo now on them with them filing income tax separately and income based repayment plan.
Posted on 11/1/18 at 8:53 am to YeauxGurt
Hell, I'd probably just divorce her and keep living together just to make sure.
Posted on 11/1/18 at 8:54 am to foshizzle
Also technically she now has 140k in student loans. Two more marriages and that is how you debt snowball, Mr Ramsey.
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