61–70 of 82 posts
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Possibly, but they'd have to bring in their profits from offshore, and that would be taxed.
Ahhh, but you see, if they were taxed, then Palo Alto would have the money to build more shelters.
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> "All that being said, I'm not sure what the point of making criminals out of homeless people is. No reason to kick people when they are down." I agree with this point that you said. The rest I think is pretty unfair; we know very little about this guys' life and how he spent his money (or the reasons he spent his money the way he did - "no excuse" I think is a false statement). The fact is, there are people who are…
Perhaps it is slightly unfair, but I think they are reasonable assumptions based on the information given. 1. Worked in tech for 30 years (which implies pretty good salary) along with actual number of 150k for at least some of those years. 2. We have a first-hand account from his step-son that says he was really bad with his money. 3. Then we have irrational behavior staying in a place that he most definitely can't a…
All I am saying is that those 3 points you listed here really do little to paint a lifetime of 70 years. I am certain you'd have little trouble imagining legitimate scenarios where someone could lose their fortune (hence why I don't buy the "no excuse" statement). #3 isn't irrational; the article indicated that the man worked in Palo Alto for a good portion of his life, where significant life events, such as his family-making, career, and death of his wife all occurred. It is not irrational to want to stay at a place you are emotionally attached to. It would be reasonable to conjecture that he has a social network there, vs. any other random place in the US.
Also, on point #2, his stepson and he are estranged, communicating only through Facebook on occasion so I am not certain that it is as relevant as you believe it to be.
I ask you would 3 facts about your life sufficiently portray the person you believe yourself to be? Would it explain in any detail why you are the person you are today?
The reason I am focusing on this point is because I believe the bias we all (myself included) have against other people in different circumstances including (but not limited to) homelessness, comes from this perspective of assuming we know far too much about the individual in question.
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This guy is popular. http://www.mrmoneymustache.com/ Basically, spend as little money as possible until your dead. It's surprisingly good advice.
Stated a little more neutrally: give at least some care what you spend money on in the context of what you're making and what resources you want to have left when you stop working.
Why would the amount you spend be framed in the context of what you're making?
You're just setting yourself up to spend more as you earn more, which is the exact opposite of what MMM is all about.
Remember, The goldfish fills the bowl.
Well if Palo Alto is willing to spend $250,000 they could pave a bit of parking lot and put in a bathroom/shower unit like exists in campgrounds. But that seems a bit extreme. The guy profiled was tech worker for 30 years, but allegedly "not good with money." If you're in your 20's don't be that guy. Live within your means, save for those future days.
As a 20-something, does anyone have any advice me for or know of resources where I can learn about financial management?
Debt is evil. Unless you can get a higher rate of return than the interest rate of your debt, pay off the debt as soon as possible.
Have at least 6 months of expenses in an easily accessible, liquid place like a bank account. Once you've got that rainy-day fund in place, plow the rest (at least 10% of income, 20% is probably a better target) into investments and take any tax advantages possible:
Traditional IRA + Roth IRA ($5500 combined max/year)
Traditional IRA contribution is tax deductible if you aren't covered by a work retirement plan or if you're under a certain earning threshold.
Take advantage of 401(k) if your employer offers it, contribute at least enough to get any matching they offer. These are pre-tax dollars, but some plans have shitty investment options, so YMMV. $17,500 max/year.
Put the rest in an individual brokerage account and invest regularly (monthly or quarterly) in low-cost, broad-market index funds or ETFs like VTI, VOO, or QQQ.
The rest is your fun money...you're young, so make sure you're also investing in yourself by going on trips, having fun experiences, etc, just keep the future in mind and don't go TOO crazy!
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> It's only an invitation for police harassment if you're breaking the law. Edit: it is often more of an invitation, however, if you are a minority or poor.
If they are going to harass you when you're not breaking the law, then the law itself has nothing to do with it. They could equally harass you for any number of things which no one would argue should be criminal. Making a statement about police harassment and abuse of power is fine, but the topic at hand has little to do with that.
I hate to be that guy, and I'm going to sound like an ass, but this is 100% his doing. Software worker in Palo Alto for 30 years making as much as 150k has no excuse. Save some money stupid. Also, when you get fired and can't find another job, perhaps you should move out of your $2150 a month rental. That's enough for 4-5 months or more in other places. $1700 a month SS isn't much, but it's enough to not be homeless…
At the risk of sounding (or even outright being) cruel, Mr. Smith's real problem is that of terrible financial management skills. Keep in mind that when he moved out there in the 70's, the Valley was not nearly as expensive as it is today. And, with a software engineer's salary during its heyday, he could have very easily purchased -- and paid off -- a place for him to live. As he, himself, said, he made a choice to…
>At the age of 70, after a long -- and I'm assuming successful, based on his highest salary -- career, having only a "meager" savings is no one's fault but his own. I sympathize with him. I do not intend to save since there is no point when the future of the country is so uncertain.
Only 15 emergency shelter beds in all of Palo Alto?! And an estimated 150 men, women, and children competing for those spots every night? That's disgusting. Companies who have HQ's in Palo Alto: http://en.m.wikipedia.org/wiki/Category:Companies_based_in_P... Not one of those companies, some of which are valued in the billions, could pick up the cost of sponsoring another ten emergency beds? Another five, even?
Well if Palo Alto is willing to spend $250,000 they could pave a bit of parking lot and put in a bathroom/shower unit like exists in campgrounds. But that seems a bit extreme. The guy profiled was tech worker for 30 years, but allegedly "not good with money." If you're in your 20's don't be that guy. Live within your means, save for those future days.
As a 20-something, does anyone have any advice me for or know of resources where I can learn about financial management?
If you are not crushed by debt, just try to make your spendings increase much slower than your pay.