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Sat Oct 17, 2020, 05:28 PM

This message was self-deleted by its author

This message was self-deleted by its author (left-of-center2012) on Fri Oct 23, 2020, 08:57 PM. When the original post in a discussion thread is self-deleted, the entire discussion thread is automatically locked so new replies cannot be posted.

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Reply This message was self-deleted by its author (Original post)
left-of-center2012 Saturday OP
dem4decades Saturday #1
Sherman A1 Saturday #2
sfstaxprep Saturday #3
Shermann Saturday #6
Auggie Sunday #14
dweller Saturday #4
left-of-center2012 Saturday #5
Ohiogal Saturday #7
OnlinePoker Saturday #8
Binkie The Clown Saturday #9
Grins Saturday #10
msongs Saturday #11
beachbumbob Saturday #12
Dem2theMax Saturday #13
Warpy Sunday #15

Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:31 PM

1. I'm above average, i always thought it.

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:33 PM

2. WOW!

I'm in the Boomer group and I am really not keeping up with the numbers presented. Perhaps I need to get out to the bank Monday and do them a favor by borrowing much more money.

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:35 PM

3. Not Necessarily Fair To Incude Mortgage Loans

You can be above water, and financially secure, yet still have a large Mortgage. Especially with the way home values increase year over year. You can't even get a house in CA for less than a few hundred thousand.

For the most part, the other kinds of debt are bad.

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Response to sfstaxprep (Reply #3)

Sat Oct 17, 2020, 05:45 PM

6. Kind of misleading to look at just debt

Net worth includes debt and is a far better single indicator of financial health.

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Response to sfstaxprep (Reply #3)

Sun Oct 18, 2020, 03:46 PM

14. +1

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:36 PM

4. Surprised there's no medical debt catagory

Especially in the older groups



✌🏻

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Response to left-of-center2012 (Original post)


Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:45 PM

7. I'd be curious

as to how this compares to other first world countries

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:46 PM

8. Aside from my mortgage, which I paid off in 2014, I haven't paid interest since 2003.

Frugal wife and nothing is bought unless we can pay for it when the next month's bills come in.

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:47 PM

9. That's horrifying!

40 years ago I was so deep in debt I thought I would never dig my way out. I resolved NEVER to acquire any new debt. Finished paying off my mortgage 15 years ago, and it feels amazing to be able to say that I don't owe anybody any money.

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:52 PM

10. "keep up with the Joneses"

Keeping up with the Joneses has nothing to do with it.

The #1 reason is that incomes have not kept pace with the basics of daily living. Salaries stagnated; everything else continued to rise.

A male entering the workforce in 1970 found out way too late that he would be the first generation not to do better than his father. And neither would his son.

Best on this, Elizabeth Warren’s talk at Cal. Berkeley before she ran for the Senate. It’s on YouTube. Google it.

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 05:59 PM

11. buying a new iphone every year is expensive nt

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 06:05 PM

12. all about prriorities and self control

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Response to left-of-center2012 (Original post)

Sat Oct 17, 2020, 06:31 PM

13. Zero debt.

But I don't own much. I don't need much. I survive on next to nothing.

I'm one of those weird people who does not see any need to own more than one pair of shoes at a time.

I'm the person advertisers hate.

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Response to left-of-center2012 (Original post)

Sun Oct 18, 2020, 06:50 PM

15. Gen X really got hammered hard by the Reagan Revolution

Boomers saw wage erosion that prevented most of us from saving for retirement or putting the kids through school. Gen X got hit with that plus slick pitchmen telling them it didn't matter, they could just get easy credit and the bills would never come due, so they'll not only be broke at retirement, they'll have creditors with their hands in their pockets.

Whatever else happens when we next get a sane government, we need an honest accounting of what the last 50 years have done to the majority of people in this country.

Then we need a clawback.

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