Mortgage= Mort(death) + Gage(pledge) 30 yrs/ 360 months of front-loaded Interest Payments is INSANE

[Stuntone]

The more I learn and dissect our economy and finance, the more I realized the American Dream is a long-term debt slavery scam for working class fools.

30-year mortgage. Making payments for over half of your adult life. No money or time to pursue anything else in live.

401k = invest for 30+ years, while Wall St invests and gambles with it (profits are theirs, losses are on you) and pray that your money is there when you're 65+ and only have a few years left to spend it.


Student Loan debt = mostly for average degrees that help you earn average income.

 

[BaldingSoHard]

Mortgage at 2.875% (less than inflation) with a payment less than area median rent...
401(k) up 17% this year...

Got my 6th interview tomorrow for a tech company that should double my income...

 

[Bgreat]

"The reason they call it the American Dream is because you have to be asleep to believe it."

George Carlin

 

[UpNext]

My mortgage interest rate is 2.9% and inflation is over 4% do y'all even math

 

[Sad Bunny]

Mortgage at 2.875% (less than inflation) with a payment less than area median rent...
401(k) up 17% this year...

Got my 6th interview tomorrow for a tech company that should double my income...

I can relate

I just need to get this senior director position but I’m being lazy because I WFH

My travel addition though

 

[Sonic Boom of the South]

Dumb broke babble!

 

[UncleTomFord15]

A 30 year mortgage can be handled by people actually getting married and using the dual income to pay off the mortgage quickly. The key is when you go to college to actually major in something that's useful, so when you go out to the workforce you can actually command a solid salary. And marry someone in the same situation.

Everyone should invest in a 401k and Roth Ira. Simply invest in the sp500 and be the market instead of trying to beat the market (90% chance you fail to beat it). Acquire bonds as you get older in age. The earlier you start investing the earlier you can potentially retire.

Student loans again can be handled by getting a degree in something that's actually important. There is also trade school, the military and community College.

 

[EastsideRio]

My mortgage interest rate is 2.9% and inflation is over 4% do y'all even math

You still gotta pay on that shyt for 30 years dog

Come to Detroit, I own 3 properties all mortgage free

 

[TRUEST]

If they taught this to kids in school there’d be a rapid change in direction for that community/state/country.

I caught to this early when I sat down and calculated the metrics.

- take out loans for college. No you don’t need to go to an Ivy League school. Especially if you’re paying for it with loans.
- graduate with enormous debt.
- buy a car
- buy a house
- have kids
- enjoy whatever time you have left

Nah fucck you

 

[Ricky Fontaine]

Mortgage at 2.875% (less than inflation) with a payment less than area median rent...
401(k) up 17% this year...

Got my 6th interview tomorrow for a tech company that should double my income...

What's your field? I could've sworn you said you was a mortgage broker

 

[BaldingSoHard]

What's your field? I could've sworn you said you was a mortgage broker

I'm in mortgage technology (DevOPS).

Trying to transition to a sales engineer role.

Wish me luck!

 

[Yzak]

Shut the fukk up and accept it commie!











































Looking for a house in summer 2022 was honestly insulting. 100 year old houses in shytty neighborhoods going for $250K+, I kept thinking in 30 years some of these houses will be 150 years old and falling apart

 

[Stuntone]

Degree = Falsified Freedom Papers
Shytty Average Paying Job = Cotton Field
Wife and Kids = the Slave Master
Mortgage = the Big House
Divorce (Alimony and Child Support) = Lynching

GMB

 

[tuckgod]

America and the UK secular system were both designed by people that believe they are Gods chosen people and that we were all put here at their leisure.

Well, they don’t really believe that but they need us to so they don’t ever have to go back to the Ukraine and deal with Russia.

 

[IIVI]

Basically this. Last post greatly summarizes it all: yeah, nice numbers but actually a decent quality of life is a struggle for most people to attain/maintain.

That's the reality of it.

I noted that last reply, but most replies to Marc and the first post echo the same sentiment very well.

You’re both correct. There is nothing inconsistent with GDP increasing while families of four face crushing financial circumstances—especially in the US.

Too many have been brainwashed into believing that the two must be necessarily correlated in real time. Even over long periods there is no such guarantee. E.g., the Hong Kong economy did phenomenally well for 30 years while wages remained stagnant, esp. for new entrants into the workforce. So much so that an entire generation grew up with nothing but dissatisfaction and disaffection.

So while Hong Kong kicked a bunch of ass economically for decades, it's citizens were really feeling it.
The same thing is happening right now but in America and it just started.
We aren't numbers on a piece of paper but that's what we are to some people.

Spoiler: Although that's my favorite reply, others were great as well.

Get sick or get into one accident and all your savings are probably gone.

I'm STEM and tech gang too yet I can see this bullshyt (maybe because I'm an engineer I feel more the need to call it out objectively).