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    Thread: My financial mess and my hopeful recovery this year 2015

    1. Member Nealric's Avatar
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      03-19-2015 11:47 AM #51
      Quote Originally Posted by Issam Abed View Post

      Call it what you wish but from your own posting you play it extremely safe.

      At the age of 30 you have been in the work force in some capacity for the last 13-14 years. Money & Investing online forums (all be it taken with a grain of salt) have been around for over 10 years giving people advice on how they can make there financial situation better. Having a passive income of $40K/year is not optimistic by any means and because someone is doing it , does not make them insane.
      You are implying that said 30 year old has at least $500k net worth (excluding home equity) in today's environment (and that's with very aggressive investments). Nobody thinks that's a realistic outcome unless you work on wall street, are an heir, or started a successful tech company. Outside those paths, the only way to save that kind of money would be to take on no school debt (perhaps jeopardizing your future earning potential), live with your parents who charge you no rent from the age of 18-28, save every dime, and never travel, go out or or have hobbies that cost any money. Looking back at my 20s, there is no way I would want to go back and live that way even if it had been possible.

      What about those who want careers involving higher education? I graduated from college and graduate school early (AP tests and joint degrees, respectively) and I STILL didn't enter the workforce in any real capacity until the age of 25. All my summer and part-time earnings went to basic living expenses. Sure, I COULD have done some sort of semi-skilled task prior to that time, but at what cost? My grades would have suffered, and I may never have gotten my current job (which pays many multiples of the semi-skilled professions you mention). It might have increased my net worth at 30, but significantly decreased my net worth at 40.

      And why the focus on 30? Isn't your net worth at 60 FAR more important?
      Last edited by Nealric; 03-19-2015 at 11:51 AM.

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    3. Senior Member dunhamjr's Avatar
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      03-19-2015 11:57 AM #52
      Quote Originally Posted by Nealric View Post
      And why the focus on 30? Isn't your net worth at 60 FAR more important?
      not if you don't plan to work till 60.

    4. Member Nealric's Avatar
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      03-19-2015 12:00 PM #53
      Quote Originally Posted by dunhamjr View Post
      not if you don't plan to work till 60.
      I would say even if you plan on retiring at 50 (or before), your net worth at 60 is going to be more important. It's going to determine whether you can stay retired

    5. 03-16-2017 11:10 AM #54
      [Grave digging]
      OP - have you made any headway?
      --
      2016 Discount Brand S3 | 1987 Peugeot PB-18 | 1986 Mid-Engine Supercar

    6. Member Tornado2dr's Avatar
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      03-17-2017 10:10 PM #55
      Quote Originally Posted by spoonie View Post
      [Grave digging]
      OP - have you made any headway?
      I just re read the op, gulped, and turned off a few lights in the house to save some pennies in his honor

      Yeesh. Not so torqued about my water bill being 20$ higher than last cycle, anymore.


      Sent from my iPhone using Tapatalk
      Quote Originally Posted by Turbio!
      They make my ass look pretty.

    7. Senior Member dunhamjr's Avatar
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      10-09-2017 05:35 PM #56
      the money forum is slow. this post with a reply from 6 months ago, still on the front page.

      OP hasnt been back in a LOT longer than that.
      so i am, but not really trying to be mean, calling the OP out as he either just gave up or has corrected his issues since he seems to now have a $14k car and trying to trade that in on a $35k car.

      https://forums.vwvortex.com/showthrea...de-in-question
      42green - I would be possibly trading in a vehicle worth about 14k for a 35k vehicle. This would be a big chunk of the calculated sales tax reduced if it is solely based on the trade-in number written on the paperwork and not how much is owed on it.
      Last edited by dunhamjr; 10-09-2017 at 05:38 PM.

    8. Member 42green's Avatar
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      10-09-2017 07:59 PM #57
      Quote Originally Posted by dunhamjr View Post
      the money forum is slow. this post with a reply from 6 months ago, still on the front page.

      OP hasnt been back in a LOT longer than that.
      so i am, but not really trying to be mean, calling the OP out as he either just gave up or has corrected his issues since he seems to now have a $14k car and trying to trade that in on a $35k car.

      https://forums.vwvortex.com/showthrea...de-in-question
      42green - I would be possibly trading in a vehicle worth about 14k for a 35k vehicle. This would be a big chunk of the calculated sales tax reduced if it is solely based on the trade-in number written on the paperwork and not how much is owed on it.
      Wow, I come back to forums to ask one question and get the past pulled back up. Whatever don't really care about what people think anymore, but since you seem into it enough to bring up the old thread I'll give a quick update.

      Cliffs:
      declared bankruptcy (uncle helped with the lawyer fees, paid back in 6 months)
      started rebuilding after, wasn't hard because I never had things in collections/late for the most part
      got a raise at work
      after having my **** box cars break down I decided to get something nicer, plus a loan helps rebuild right?
      back slid on credit a little but not the totally [email protected]#$d' situation I was in before
      got another raise at work
      thinking about a new wrangler before the JL hits (not impressed so far)

      So in the end I didn't just give up, and I'm not perfect but not in the mess I was before.

      Merry Christmas, Happy Hanukkah, Kwanzaa, Chinese New Year, and everything else I'm out.
      cars

    9. Senior Member dunhamjr's Avatar
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      10-09-2017 10:38 PM #58
      Good to hear you seem to be in a better place, never expected 'perfect' as you put it.

      Just thinking, if you don't consider where you are as perfect, maybe just pay off the car you have instead buying something that costs a lot more.

      As for the thread. When people come in here and ask for advice, it's good to hear the positives if there are any... Or to offer more thoughts if help is still needed.

      Sent from my Nexus 5X using Tapatalk
      Last edited by dunhamjr; 10-10-2017 at 01:28 AM.

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