Do you have Earning Assets?

[sealybobo]

I generally don't talk finances... generally cause I ain't got none, HA!

We'll be ok regardless of whether or not there's SS in our future. Unless some unforeseen disaster hits the country- like if Biden were prez- HAHAHAH

Wait...

According to the National Bureau of Economic Research, the 1990s was the longest economic expansion in the history of the United States until the 2009-2020 expansion, lasting exactly ten years from March 1991 to March 2001. It was the best performance on all accounts since the 1961-1969 period.

You should be sucking Bill Clinton's dick as Obama ***** your ass.

 

[MarathonMike]

I miss the day when my dad and grandmother were getting 10% on their savings.

When I started my career, my first investments were a CD and a house. You want to guess what the interest rates were? 17% on the CD and 14% on my mortgage!

 

[sealybobo]

When I started my career, my first investments were a CD and a house. You want to guess what the interest rates were? 17% on the CD and 14% on my mortgage!

My dad tells me about his mortgage like that. So he paid it off quickly then took advantage of the fact you could get 10% on your savings.

I would love to be getting 10% on my liquid cash.

 

[deannalw]

You should be sucking Bill Clinton's dick as Obama ***** your ass.

Keep your dirty little gay fantasies to yourself you limp wristed squirrel.

 

[odanny]

My 401K is up 26.4% currently, and it has been up at least 16% for the entire year thus far. The best part about that is many of my holdings in my self brokerage have not come close to maturing yet. EV's and lithium producers are set to explode.

 

[Canon Shooter]

Earning assets include stocks, bonds, income from rental property, certificates of deposit (CDs) and other interest or dividend earning accounts or instruments. They can provide a steady income, which makes particularly useful for long-term goals such as retirement planning.

The sad truth is that "building asset wealth is currently unattainable for the majority of Americans,” the report stated.

Wealth Income Gap Widens In U.S. Communities With Jackson Hole At The Top

More Americans need a "seat at the table" of the U.S. economy, urges troubling new report by the Economic Innovation Group.

www.huffpost.com

Yes.

I have two homes and two rental properties. The rental properties pay for themselves, plus they generate enough income to put some cash away for a rainy day. I have a lot of AT&T stock that I inherited from my late aunt. She originally bought the stock when it was the Bell Telephone Company. She was buying stocks at .30¢ and .40¢ a share, and there's a shit-ton of them. AT&T is trading at around $27 a share this morning.

I buy gold when I can; I think everyone should. I got my first ounce of gold as a high school graduation present from my grandparents. Back then gold was selling for around $625 an ounce. Now it's just shy of $1,800 an ounce. When my brother got his gift from our grandparents it was around $149 an ounce. A year ago gold hit a record high of $2,067 an ounce. Gold is a long-term investment, and a worthy one.

I don't believe that building "asset wealth" is unattainable. It just needs to be managed. Don't go for too much too quickly...

 

[Correll]

Yea but I’m pointing out that besides 401k, most Americans have nothing. Hope nothing happens to social security. Do you have rental properties or any other moneys out there working for you or are all your eggs in one basket?

The primary ways most people will build wealth is owning a home, and some from of retirement mutual fund.


Not counting them is just a way to... exaggerate the issue, instead of having a substantive discussion.


More can be done to encourage wealth building. Basing policy on false data is asking for trouble.


Step one. Any attempt to roll back 401ks or homeownership must be resisted. Bill Clinton talked some shit about putting strings on 401ks. Shit like that has to be fought.

 

[Correll]

According to the National Bureau of Economic Research, the 1990s was the longest economic expansion in the history of the United States until the 2009-2020 expansion, lasting exactly ten years from March 1991 to March 2001. It was the best performance on all accounts since the 1961-1969 period.

You should be sucking Bill Clinton's dick as Obama ***** your ass.

That expansion was built on Reagan's policies. Bill Clinton squandered his political capital by giving his wife the job of Health Care and then was balanced out by a gop congress after midterms.

 

[sealybobo]

Yes.

I have two homes and two rental properties. The rental properties pay for themselves, plus they generate enough income to put some cash away for a rainy day. I have a lot of AT&T stock that I inherited from my late aunt. She originally bought the stock when it was the Bell Telephone Company. She was buying stocks at .30¢ and .40¢ a share, and there's a shit-ton of them. AT&T is trading at around $27 a share this morning.

I buy gold when I can; I think everyone should. I got my first ounce of gold as a high school graduation present from my grandparents. Back then gold was selling for around $625 an ounce. Now it's just shy of $1,800 an ounce. When my brother got his gift from our grandparents it was around $149 an ounce. A year ago gold hit a record high of $2,067 an ounce. Gold is a long-term investment, and a worthy one.

I don't believe that building "asset wealth" is unattainable. It just needs to be managed. Don't go for too much too quickly...

I like everything you said until the end. The numbers show it's not attainable. And come on bro, you sound as entitled as my nephews who's father is rich and they go to the finest schools. Do you hear yourself? Your aunt gave you money, your grandparents gave you money. No doubt your parents gave you money too. Who bought the two rental properties for you? How did you save up the down payment? Did you go to college? Did you pay for it?

It's easy for you to say it's attainable. You've never been poor so how would you know?

 

[sealybobo]

The primary ways most people will build wealth is owning a home, and some from of retirement mutual fund.


Not counting them is just a way to... exaggerate the issue, instead of having a substantive discussion.


More can be done to encourage wealth building. Basing policy on false data is asking for trouble.


Step one. Any attempt to roll back 401ks or homeownership must be resisted. Bill Clinton talked some shit about putting strings on 401ks. Shit like that has to be fought.

What strings on 401K's?

I hear 401K's are a big scam and people are going to get fucked one day when the ponzi scheme goes bust.

You have to live somewhere when you retire. So it doesn't matter how much your home is worth. Unless you are suggesting I sell it and move into a one bedroom apartment in low income housing because it's cheaper to live in my home than it is to rent and the low income housing. $1000 there. My association dues are $200 a month. Taxes $100. Electricity, etc......

Or are you going to get a reverse mortgage and leave your children nothing? This is one example of how the American middle class is taking a huge step backward but you don't realize it. In the past, we got our parents home when they died. Today you're saying they have to sell their home and eat up the money paying rent in an apartment or do a reverse mortgage so a corporation gets the home when they die, not you.

 

[sealybobo]

That expansion was built on Reagan's policies. Bill Clinton squandered his political capital by giving his wife the job of Health Care and then was balanced out by a gop congress after midterms.

Nonsense. Bill Clinton had a projected surplus and Bush used that to pass tax breaks. Bye Bye surplus.

Bill Clinton had the best 8 years you can't deny it.

And what you are ignoring is that all of Reagan's bad policies would end up hurting us long after he left office.

Roll Back the Reagan Tax Cuts | Common Dreams

Our bridges are falling apart (among other things), and its Ronald Reagan's fault. A few hours before the bridge collapsed in Minnesota, a news release landed (among hundreds) in my email inbox. It was from the right-wing "Heartland Institute" and a Minnesota conservative group calling itself...

www.commondreams.org

 

[Canon Shooter]

I like everything you said until the end. The numbers show it's not attainable. And come on bro, you sound as entitled as my nephews who's father is rich and they go to the finest schools. Do you hear yourself? Your aunt gave you money, your grandparents gave you money. No doubt your parents gave you money too. Who bought the two rental properties for you? How did you save up the down payment? Did you go to college? Did you pay for it?

It's easy for you to say it's attainable. You've never been poor so how would you know?

Um, I didn't have a lot growing up. My mom was a housewife and my Dad was a truck driver for Exxon. I went to public school, and I joined the military instead of going to college. You've got to have your head embedded deeply and firmly up your ass to say I was never poor. We were. Our parents just didn't let us know it. Yeah, my grandparents gave me the equivalent of $650 for a high school graduation present. Yeah, boy, I was just rollin' in dough, huh?

You ignorant ****.

How did I pay for my rental properties? I worked my ass off, that's how. Apparently that's a concept with which you're unfamiliar. I worked my ass off. I built two successful companies and diversified my holdings. I have a 51' motor yacht, too. You wanna' get pissy about that? Wanna' whine about my motorcycles? All of it is the result of hard work and commitment.

And my aunt left my brother and I her stocks and investments when she passed two years ago. I was doin' fine long before that. If I needed that money it's there, but every penny of my half of her estate is earmarked for my daughter.

The day I joined the Navy, at age 18, I had just shy of $3,000 in a saving's account. Now I have an accountant who's very, very happy that I'm his client.

Not everyone has the drive to do what I did. I understand that. You clearly don't. But looking at someone who's doing well, and refusing to allow for it being the result of their own hard work, is stupid and ignorant.

But you seem to wear that well...

 

[sealybobo]

Um, I didn't have a lot growing up. My mom was a housewife and my Dad was a truck driver for Exxon. I went to public school, and I joined the military instead of going to college. You've got to have your head embedded deeply and firmly up your ass to say I was never poor. We were. Our parents just didn't let us know it. Yeah, my grandparents gave me the equivalent of $650 for a high school graduation present. Yeah, boy, I was just rollin' in dough, huh?

You ignorant ****.

How did I pay for my rental properties? I worked my ass off, that's how. Apparently that's a concept with which you're unfamiliar. I worked my ass off. I built two successful companies and diversified my holdings. I have a 51' motor yacht, too You wanna' get pissy about that? Wanna' whine about my motorcycles? All of it is the result of hard work and commitment.

And my aunt left my brother and I her stocks and investments when she passed two years ago. I was doin' fine long before that. If I needed that money it's there, but every penny of my half of her estate is earmarked for my daughter.

The day I joined the Navy, at age 18, I had just shy of $3,000 in a saving's account. Now I have an accountant who's very, very happy that I'm his client.

Not everyone has the drive to do what I did. I understand that. You clearly don't. But looking at someone who's doing well, and refusing to allow for it being the result of their own hard work, is stupid and ignorant.

But you seem to wear that well...

I'm sorry. Your post reeked of entitlement. Doesn't sound like that's the case. LOL. My bad.

 

[Correll]

What strings on 401K's?

I hear 401K's are a big scam and people are going to get fucked one day when the ponzi scheme goes bust.

You have to live somewhere when you retire. So it doesn't matter how much your home is worth. Unless you are suggesting I sell it and move into a one bedroom apartment in low income housing because it's cheaper to live in my home than it is to rent and the low income housing. $1000 there. My association dues are $200 a month. Taxes $100. Electricity, etc......

Or are you going to get a reverse mortgage and leave your children nothing? This is one example of how the American middle class is taking a huge step backward but you don't realize it. In the past, we got our parents home when they died. Today you're saying they have to sell their home and eat up the money paying rent in an apartment or do a reverse mortgage so a corporation gets the home when they die, not you.

1. Strings like, "encouraging" socially conscious investing, so instead of investing to get the best return, fund managers would invest to help traditionally disadvantaged groups, or sustainable farming or some such shit.

2. Possible scenarios. Sell the house, move to the country. Sell the house, move into that retirement community, sell the house, help your child buy a house with an in law wing.

3. And again, I agree that the topic is a valid concern. But ignoring 401ks, and houses is not...helpful.

 

[Correll]

Nonsense. Bill Clinton had a projected surplus and Bush used that to pass tax breaks. Bye Bye surplus.

Bill Clinton had the best 8 years you can't deny it.

And what you are ignoring is that all of Reagan's bad policies would end up hurting us long after he left office.

Roll Back the Reagan Tax Cuts | Common Dreams

Our bridges are falling apart (among other things), and its Ronald Reagan's fault. A few hours before the bridge collapsed in Minnesota, a news release landed (among hundreds) in my email inbox. It was from the right-wing "Heartland Institute" and a Minnesota conservative group calling itself...

www.commondreams.org

You're trying to have it both ways.

Reagan cut taxes a lot. He walked that back some. Some do Bill. But generally speaking Bill kept the tax and economic policies of the Reagan Bush years.


You do know that his economic boom started before he even took office, right?

In fact, they had to retroactively change the last quarter of Bush's economic numbers. Turns out the recovery started BEFORE the election, but they made a mistake and didn't report it till later. How terribly unlucky for him...


Yes, there has been long term issues with Reagan's policies. Bill had eight years to address them. He choose to benefit from them while ignoring the long term problems.

 

[Blues Man]

Earning assets include stocks, bonds, income from rental property, certificates of deposit (CDs) and other interest or dividend earning accounts or instruments. They can provide a steady income, which makes particularly useful for long-term goals such as retirement planning.

The sad truth is that "building asset wealth is currently unattainable for the majority of Americans,” the report stated.

Wealth Income Gap Widens In U.S. Communities With Jackson Hole At The Top

More Americans need a "seat at the table" of the U.S. economy, urges troubling new report by the Economic Innovation Group.

www.huffpost.com

No it's not.

Anyone and I do mean anyone can start investing right now if they want to.

 

[Blues Man]

I really need to stop going to Tim Horton's once a day. $2.45 a day x 360 = $900 a year. That's $10K I won't have when I retire in 11 years.

Cigarette's? Let's say $30,000 in the next 11 years.

So there is $40,000 of my earnings I will kill on some bullshit.

To defend the coffee. How much do you think making coffee at home costs? 45 cents a day? So I'm really only blowing $720 a year on coffee. And I bet I'll drink more if I'm making a pot in the morning. Plus cream and sugar.

I buy a pound of coffee for 6.99
Out of that pound of coffee I get 80 12 oz servings

that's less than 9 cents a cup.

I drink it black so I don't pay for sugar or cream but how much extra can that be?

 

[sealybobo]

No it's not.

Anyone and I do mean anyone can start investing right now if they want to.

Sure but most Americans are trying to put food on the table and pay rent.

Mos people can’t even save enough to put 20% down on a home.

Ultimately, I agree with you because any single person no doubt can make something of themselves and save. It’s not our fault if they got married or had kids while poor which would make saving anything much harder. So anyone who can’t save made bad choices somewhere

 

[Blues Man]

Sure but most Americans are trying to put food on the table and pay rent.

Mos people can’t even save enough to put 20% down on a home.

Ultimately, I agree with you because any single person no doubt can make something of themselves and save. It’s not our fault if they got married or had kids while poor which would make saving anything much harder. So anyone who can’t save made bad choices somewhere

Anyone can come up with 25 bucks a month painlessly

most people can easily come up with 100 a month with a small sacrifice

 

[MarathonMike]

Blues Man I have a sister-in-law who just HAS TO HAVE her 5 dollar starbucks every single day. She has done this for at least 15 years. She has no savings and she is well into her 50s. Let's say she missed a few days each year. So she spent 5x300x15= $22,500 on Starbucks coffee. And that is just her morning cup of coffee.