Mom’s basement, silly.

At least he had the good sense to leave the thread after being embarrassed. Well, at least he eventually had the good sense to leave the thread.

And he’s just telling us through his incredible life story, which is currently in development with Lifetime, that it is possible to break free of the chains of want and live a life of the bare essentials. I bet he only saved that 5 grand to better insulate the cardboard box.

I have a friend nearby who is a perfect case in point. He has worked at the same agency for at least 20 years (the NY comptroller’s office – if he hadn’t been out inspecting voting systems in another city because of elections scheduled on 9/11 he would probably have been in the WTC when it was hit). His college study was aimed at this field. He has gotten fulsome praise for his work and raises and promotions regularly while working there. Yet he has far less disposable income today than when he started after college. Why? He and his wife live frugally, they certainly don’t have luxury cars or eat out often (in fact he’s quite a homebody). Yet he can barely afford to get the roof on his house repaired. Despite the best possible work performance he could give, his wages haven’t kept up with inflation.

In my own field (software engineering) it is pretty common to quit & go to a new job and then expect to come back in a few years so you can negotiate a higher salary. If you stay in the job, the commonplace 3-4% raise just doesn’t keep pace after a while. Certainly there are people where I work who would not be getting the salary they are if they had not done this.

But not all fields of work even afford opportunities to do that. There aren’t a lot of places that would use the specific though valuable expertise my friend has. What are his options to be able to afford that new roof? (Since he doesn’t go to Starbucks in the first place, what is he supposed to ‘do without’?)

You idiot.”

You’ve assumed that those 13 years will pass without inflation.

Now who is the bigger idiot?

“When you can’t pay a medical bill or a house payment or a credit card bill, or a property tax bill because you’ve saved nothing…”

And you really think you can go 13 years without a medical bill? Not if you are eating PB&J all the time.

Face it, you fucked up on your first post, now you are paying for it.

You should have said, “I didn’t realize he was talking about a movie that was from the 1940s. My bad.”

I’ve said a similar thing when I messed up. (The R. Kelly debate. … I think. Who’s the guy who was accused of peeing on an underage girl?)

$1250 saved for 4 months is $5000.

$1250 invested monthly for 13 years at a modest return of 6% annually is approximately $295,000. Or, adjusted for inflation, about $238,000.

Not $200,000.

You idiot.”

Actually, $1250 saved for 4 months with 6% interest would be $5038.63, roughly. It depends on when the money was put into the account and when the interested is charged. (Usually monthly.)

You see, changing the math and then blaming the other person makes you look intellectually dishonest.

Doing this after making a complete ass out of yourself in your first post just compounds the matter.

Then again, at least you didn’t start your post with LOL.

Four YEARS of peanut butter and jelly instead of a balanced diet? You’ll die of malnourishment saving for that house. What if your fancy car is already the bus? What if you’ve never owned an iPod or a video game? What do you give up now?

Sure, there are plenty of people, rich and poor, who have been bad managers of their money. The difference is, when my neighbor goes nuts with the video games, he only hurts himself. When the bankers go nuts with our money, our whole economy collapses. Anyone who thinks the average American has enough discretionary income to save $1,250 a month is so removed from reality that he or she should just step back politely and take time to study the issue instead of spouting cliches about the feckless middle class.

Where are you living in the meantime that you can save $1250 a month?

It seems to me that you’re missing the point.

Yes, hopefully you’d be able to get a mortage in order to save to buy a house. Isn’t that what we are defending here, the ability for working-class people to get honest loans? George Bailey had a “Savings & Loan” company, right?

You know how I know you’re an idiot?

$1250 saved for 4 months is $5000.

$1250 invested monthly for 13 years at a modest return of 6% annually is approximately $295,000. Or, adjusted for inflation, about $238,000.

Not $200,000.

You idiot.

If I wanted to buy a house for $200,000 here’s how I do it: I save $1250 a month for 4 years, make a $60,000 down payment on a 15 year fixed rate mortagage at 5%, and make payments of hmm, gosh, $1250 a month.

And then I own a house, free and clear. And whatever I was paying in rent, I can now invest or spend however I wish.

Because I think long term and set specific goals.

Plus, I also know that you’re an idiot because you’ve assumed – probably based on your own life experience – that those 13 years will pass without ever getting an increase in pay.

You idiot.

And you’ve also shown me that there are a number of things – a new TV, a car, a cup of Starbucks, a Happy Meal, which are higher priorities for you than saving $5000. And that’s perfectly all right. Starbucks is more important, McDonalds is more important, new cars are more important, TV’s are more important.

When you can’t pay a medical bill or a house payment or a credit card bill, or a property tax bill because you’ve saved nothing, I’m sure the TV and the car and the coffee the giant collection of little toys, and the extra 75 lbs. will be great comfort.

But thanks for making my point for me.

A HA! Nepotism!

Wow, it takes a special kind of person to view It’s a Wonderful Life as an indictment of liberalism.

Real special. Short bus special.