Quote from: bitserve on Today at 04:58:25 AM

Quote from: xhomerx10 on Today at 04:42:57 AM

I don't think they see it as 'above their means' though. If I can borrow a bunch of money to buy a home at today's price, write the loan interest amount off against my income tax and have a (typically) more valuable home in the future then it's an investment. As long as I can make the payments each month, I'm not really living beyond my means. I just need to make sure I don't have to pay more in loan payments than I can bring in through my work. How can it be considered wiser to rent from an individual owner as opposed to 'renting' from the bank - you'd be obliged to either one and both could theoretically kick you out for non-payment. Covid-19 was a once (maybe twice) in a lifetime event that likely couldn't have been factored into your investment decisions (at least not easily).

Also, consumer spending accounts for 70% of the US GDP - it's a powerful engine that requires a lot of fuel

Don't get me wrong, I am absolutely pro buying home with mortgage instead of renting. In fact, US is one of the countries with the lower ratio of owners vs renters. And yes, THAT is investing. On the other hand, those new cars, the iphones and many other things are NOT, that is spending... And they shouldn't be spending in that BEFORE they had managed to have some good savings. Priorities.

Yeah I can understand that it is the government itself who push the people into that uncontrolled consumerism but the people should know better. Because, well, shit happens.

Coffee five dollars at Starbucks two times a day every day of the year.

That is 3650 A year for 50 years. Or over 180000 a life time.

In my case maybe 5000 spent over my last 50 years

Plus 6000 spent making my own coffee. so I am out 11000

so 180000-11 = 169000 In my pocket.

smoking.

I quit feb 29 1996

25 years soon. so 25 x 365 = 9125 days. x 1.5 = 13600 packs of smokes. round it to 14000

2+10= 12/2 = 6 bucks a pack 6 x 14000= 84000

so on coffee and smokes I saved over 250,000 bucks.

Just 2 items. 1 person.

As for my wife she does not smoke 💨 ever so make that 100,000

add 150,000 saved for coffee she saved 250,000

500000 two people.