Student Debt Crisis

[SheWantTheD]

Im not going to respond to all this on my phone but you contradict yourself multiple times in it.

But the last part got me you said older generations would mean mug you talkin bout if you didnt pay off the loan early as someone who was a banker years ago, majority of old people are broke. Even though the ecomony, especially the housing market was way better back then. Maybe if they spent their youth investing instead of paying off large debts 25 years earlier than they had to they would be in better position at their old age

You live your life how you want dude and his wife seem really successful while you just sound like a young teenager who doesnt know any better

Really bro? Why do people go out and spend so much money on crap they don't need? To fulfill their lives just enough so they don't commit that because they work jobs they don't want to be at. And to brag about and show off their material wealth and possessions to other people. That's really what it comes down to.

 

[itsyoung!!]

I'm telling you breh.. If I was making 500k a year.. I would live pretty frugally but still enjoy myself. You could retire in 10-20 years if you put away 300k each year and even invest it with at the last 100% of your money back guaranteed. If households making less than 100k a year can eat out multiple times a week, go on vacations, live in nice houses and drive nice cars.. what in the hell are people making 300k-500k+ a year doing with their money?!

Is this in your imaginary land where you make 500k a year, dont get taxed 40% of that, dont pay rent/mortgage, car payment, health or dental, other bills or buy things like couches or tvs, and then save 300k a year for 10-20 years in a row?

@Reinscarf drop that coli

Cant believe the shyt im reading Youve never had a real job have you honest question, how old are you

 

[SheWantTheD]

people who make 400k are taxed LESS? You are not ready for this conversation if you think this.

20%? Tax bracket tax % for 415+k solo or 466k if they combine finances is 39.5%. If she has a matching 401k to 8% - shes at 47.5% taken out before health, dental, mortgage, car payments, food, etc

Then you want her to add 25% on top of that to pay off a school loan that isnt needed to pay off quicker.

Thats almost 70% of her check gone before actually enjoying any of that 400k let alone you know doing the real responsible thing like saving or investing.

What the fukk made you think someone making that much gets taxed less

Coli financial advisors at work hard here

I never said they were taxed less. I said they are not as negatively impacted as those that make less. And besides for that, you didn't argue any of my other points. If she's making 400k+ a year health insurance shouldn't be a problem. The mortgage and car payments are on them given what type of house and car they decided to buy.

 

[Truefan31]

Im not going to respond to all this on my phone but you contradict yourself multiple times in it.

But the last part got me you said older generations would mean mug you talkin bout if you didnt pay off the loan early as someone who was a banker years ago, majority of old people are broke. Even though the ecomony, especially the housing market was way better back then. Maybe if they spent their youth investing instead of paying off large debts 25 years earlier than they had to they would be in better position at their old age

You live your life how you want dude and his wife seem really successful while you just sound like a young teenager who doesnt know any better

Lol young teenager? Ok. How about the key is to not have large debts to pay off in the first place? Especially something like a student loan.

They seem successful. So be debt free. Make 400k and actually get to keep most of the 400k to do what you want. Not have to pay sallie Mae hundreds of thousands over a decade. Just knock it out. Budget accordingly and get out of debt. It's simple.

You were a banker? Cool, hopefully your job wasn't solely to get people into debt but to educate those on how debt=risk.

 

[Truefan31]

Is this in your imaginary land where you make 500k a year, dont get taxed 40% of that, dont pay rent/mortgage, car payment, health or dental, other bills or buy things like couches or tvs, and then save 300k a year for 10-20 years in a row?

Cant believe the shyt im reading

If you make 500k a year you can easily not have a mortgage. And why would you need a car payment? Lol. Couches and tvs? Really?

 

[itsyoung!!]

Lol young teenager? Ok. How about the key is to not have large debts to pay off in the first place? Especially something like a student loan.

They seem successful. So be debt free. Make 400k and actually get to keep most of the 400k to do what you want. Not have to pay sallie Mae hundreds of thousands over a decade. Just knock it out. Budget accordingly and get out of debt. It's simple.

You were a banker? Cool, hopefully your job wasn't solely to get people into debt but to educate those on how debt=risk.

Someone with 250k in debt paying 3k a month aint going through sallie mae breh probably citibank im guessing

Second, you are paying "sallie mae" one way or another. Just one is quicker than the other.

 

[Labadi_Mantse]

people who make 400k are taxed LESS? You are not ready for this conversation if you think this.

20%? Tax bracket tax % for 415+k solo or 466k if they combine finances is 39.5%. If she has a matching 401k to 8% - shes at 47.5% taken out before health, dental, mortgage, car payments, food, etc

Then you want her to add 25% on top of that to pay off a school loan that isnt needed to pay off quicker.

Thats almost 70% of her check gone before actually enjoying any of that 400k let alone you know doing the real responsible thing like saving or investing.

What the fukk made you think someone making that much gets taxed less

Coli financial advisors at work hard here

Debt harms ones saving and investment potential though.

 

[SheWantTheD]

Is this in your imaginary land where you make 500k a year, dont get taxed 40% of that, dont pay rent/mortgage, car payment, health or dental, other bills or buy things like couches or tvs, and then save 300k a year for 10-20 years in a row?

Cant believe the shyt im reading

It is very much possible. First of all I wouldn't be buying new cars every couple of years (the car would be paid off quickly), eating out all the time, buying clothes every year, furniture, tv's, appliances, an unnecessary mortgage because I want a mansion in a gated neighborhood, etc. Like I said.. people making less than 100k as a whole in one household live comfortably.. but someone making 600k together in a household can't put more than 32k a year towards paying off student loans?

You are delusional breh.

 

[itsyoung!!]

If you make 500k a year you can easily not have a mortgage. And why would you need a car payment? Lol. Couches and tvs? Really?

How would you not have a mortgage ?

 

[Truefan31]

I never said they were taxed less. I said they are not as negatively impacted as those that make less. And besides for that, you didn't argue any of my other points. If she's making 400k+ a year health insurance shouldn't be a problem. The mortgage and car payments are on them given what type of house and car they decided to buy.

Lol at the thought of having car payments making 500k.

 

[Truefan31]

How would you not have a mortgage ?

Save and buy outright.

 

[itsyoung!!]

It is very much possible. First of all I wouldn't be buying new cars every couple of years (the car would be paid off quickly), eating out all the time, buying clothes every year, furniture, tv's, appliances, an unnecessary mortgage because I want a mansion in a gated neighborhood, etc. Like I said.. people making less than 100k as a whole in one household live comfortably.. but someone making 600k together in a household can't put more than 32k a year towards paying off student loans?

You are delusional breh.

How can you save 300k a year on a 500k a year taxed at 40% (before any bills) is exactly 300k? You live in a world without bills?

And im the delusional one?

Your argument is that people making under 100k a year can live comfortable. But you said the poster in question probably lives in a mansion, drives expensive cars and takes multiple vacations a year. Is that not living comfortable? you are all over the place


Edit: at first the example was 400k now your example is 600k, are we using monopoly money you are thinking of for these examples?

 

[itsyoung!!]

Save and buy outright.

if you started a job making 500k a year where would you live while you saved to buy outright



Am i being trolled here

 

[Truefan31]

How can you save 300k a year on a 500k a year taxed at 40% (before any bills) is exactly 300k? You live in a world without bills?

And im the delusional one?

Your argument is that people making under 100k a year can live comfortable. But you said the poster in question probably lives in a mansion, drives expensive cars and takes multiple vacations a year. Is that not living comfortable? you are all over the place

Hey you do realize tax rates are staggered right? That the whole 500k would not be taxed at 40%? Weren't u a banker?

 

[Truefan31]

if you started a job making 500k a year where would you live while you saved to buy outright



Am i being trolled here

Lol u ever heard of renting a small affordable place, stacking bread and buying outright?

Or buying a small home (no mortgage) stacking bread and then buying outright (still no mortgage)?