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How to Afford Anything

kenrockwell.com

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Re: How to Afford Anything

#101

Post by rdouble »

ahoyhere wrote: post #99
rdouble wrote: post #87

Earlier quoted context omitted.

US taxes are about as low as it gets for the 1st world. Taxes in the US are bracketed. If you are poor in the USA you pay essentially no taxes (if you do pay, you get it all back in a refund). Welfare benefits in the USA are also for the poor, whereas in western europe there are more benefits available to the middle class. On the other side, if you are rich in the USA your taxes are much lower than if you are rich so…

The poverty line in the US is ludicrously low when basic health insurance costs $300-400 a month for the not-fucking-your-life plan, birth control isn't covered, and a gallon of milk costs $5. In Austria, a person doesn't even pay taxes until they earn over 1200 euros a month. Until the whole silly Greek affair, that was the equivalent of $21,000 USD for an individual. And... they still get retirement, maternity leav…

I don't wish to continue this but wanted to point out that the average price for a gallon of milk in the USA is $3.25.

Re: How to Afford Anything

#102

Post by username3 »

harpastum wrote: post #85
sailormoon wrote: post #23

All this pain to drop $2.5k per year on a Nikon camera? Dude, seriously, just take a few months and learn some skills at something, then get a decent job using them. You'll be able to buy a new camera every freaking month . I mean I'm all for living within your means and planning and frugality but seriously, don't eat out except for the cheapest fast food around? That's the wrong way to go about it. Upgrade your cash…

Reminds me of Sun on the Moon by James Taylor: I’ve been talking to a friend of mine He says making money’s just a waste of time He’s a lazy gent, he don’t pay no rent He’s all bent out of shape from living in a tent ... One for a nickel and two for a dime Time may be money but your money won’t buy time

Why won't money buy time? If I had money, I wouldn't have to work and then I would have time.

Re: How to Afford Anything

#103

Post by recoil »

ErrantX wrote: post #38
charleso wrote: post #35

Earlier quoted context omitted.

If, on top of your mortgage interest, you add in property taxes, property maintenance (2-5% annually?), brokerage fees and the gains foregone in purchasing property rather than bonds, is it still good advice?

> You add in property taxes, property maintenance (2-5% annually?), brokerage fees and the gains foregone in purchasing property rather than bonds, is it still good advice? I should have mentioned; my calculations included most of those extras. To be honest, though, the only important thing is what you are paying out in total each month.

Also, if you're renting in the UK, you're the one paying the property tax (Council Tax in the UK), right?

Re: How to Afford Anything

#104

Post by ErrantX »

recoil wrote: post #103
ErrantX wrote: post #38

Earlier quoted context omitted.

> You add in property taxes, property maintenance (2-5% annually?), brokerage fees and the gains foregone in purchasing property rather than bonds, is it still good advice? I should have mentioned; my calculations included most of those extras. To be honest, though, the only important thing is what you are paying out in total each month.

Also, if you're renting in the UK, you're the one paying the property tax (Council Tax in the UK), right?

Yep

Re: How to Afford Anything

#105

Post by brc »

Judson wrote: post #80

As off as some of his points may be, this one caught my eye: Don't worry about being embarrassed [about what you own] I have always said this, and it may not be 100% correct, but: The rich don't need to buy things to impress the circle they live in. They are already rich and don't need to prove it to anyone. Wasting money trying to "keep up with the Jones'" is, oddly, a sure way to lose money in the end.

Ironically I have neighbours that have every toy under the sun - boats, motorhomes, 4 cars of varying sizes, indoor gym, hot tub, 4 storey house, expensive bicycles - the list goes on.

The irony is that their last name is actually Jones.

Re: How to Afford Anything

#106

Post by brc »

His points on older prestige vehicles are true. I own two older BMWs which are in good condition, well kept and maintained. Most casual observers date the cars at 4-5 years old, instead of the actual 10-12 years they are. It is helped that they aren't used for a commute so are able to be kept clean and tidy and mileage low. I have these cars because they are built to a higher standard and are a pleasure to drive and own, with more features on them than you can get on most 'ordinary' new cars.

Friends think we 'have money' because of the cars, but they don't realise that both cars are probably worth less than what they have lost in depreciation in the last two years on their own cars.

But I stress the major reason for owning these cars is because of the superior build quality, safety and features as compared to other cars in a similar price range.

Re: How to Afford Anything

#107

Post by anamax »

Xurinos wrote: post #57
anamax wrote: post #49

Earlier quoted context omitted.

> Essentially the space is being wasted. Would you say that an undeveloped greenbelt around a city is wasted? Empty space in a house is both an option and space. The latter is quite valuable. Also, some people value the privacy.

I read something from a real estate blogger that has stuck with me since: People often pay for a bunch of space they do not need , even use. The argument that the space is an option is the same argument used to justify why someone would need to keep some random piece of garbage in their garage, taking up space. "This is a potential hobby of mine, so I am keeping this around," says a guy on the "Too much clutter in yo…

> When it comes to square footage, this is like any other investment on potential. If it is not exercised, then it sits there, taking the extra heating and cooling, adding to your taxes, and so forth.

You're ignoring the intrinsic value of space, the value of privacy, and so on.

That's why I asked about a greenbelt around a city. It's land that just sits there, yet people seems to value that.

I could cram all my stuff into about 1/4th the space. It would be quite busy. Space makes it tranquil.

Re: How to Afford Anything

#108

Post by detst »

brg wrote: post #63
dagw wrote: post #29

Earlier quoted context omitted.

If you read the whole article you'll see that he doesn't want to have a normal full time job. I don't know what his background is but he claims he used to be making 6 figures, so he probably has some viable skills. He has intentionally chosen to prioritize free time and freedom over cash-flow. While I probably wouldn't make the same choice myself, I can't really argue that he has made the wrong choice.

He has intentionally chosen to prioritize free time and freedom over cash-flow. My read is completely opposite, he is sacrificing free time and freedom in order to obtain cash-flow. Specifically he is constraining himself to living within 10 miles of employement, and spend 2x as much time commuting to bicycle to work than take a car. He suggests spending time shopping, cooking, and cleaning to eating out (perhaps 2x…

I doubt he thinks of those things as "sacrificing free time".

I'd say those are more of a lifestyle choice than a sacrifice. He's prioritized free time and freedom to enable that lifestyle. It may look like a sacrifice to some but it's part of happiness for others.

Re: How to Afford Anything

#109

Post by santry »

tome wrote: post #37
nzmsv wrote: post #36

So apparently Coke still has cocaine, and most companies are big conspiracies... If you ignore the the tin-foil hat stuff though, there are some good tips in the article.

He didn't say it still had cocaine. He said the first half of the name "Coca-Cola" comes from cocaine.

And it once actually contained cocaine.

http://www.snopes.com/cokelore/cocaine.asp

Re: How to Afford Anything

#110

Post by younata »

sp332 wrote: post #24
edw519 wrote: post #18

Earlier quoted context omitted.

How'd I miss that? Marrying smart means to marry someone as cheap as you are. That would require me to marry someone from the intersection of the sets WomenWhoWouldMarryMe and WomenWhoAreAsCheapAsMe. I suspect that the population of that intersection asymptotically approaches zero.

Well really, how many spouses does one need?

Well, depending on where one lives, one can have between 0 and as many as one can afford.

As for need, that obviously varies from person to person.

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