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Leon Trotsky 2012 posted:https://www.reddit.com/r/personalfinance/comments/5zrsi2/graduating_this_year_540k_student_loan_debt/ I can't speak for dentistry but for med school assuming you weren't a complete fuckup with either your loans/spending you should be able to get clear of your debts after like 2-3 years of private practice. I didn't read the Reddit thread but I feel like switching schools three times is a giant red flag.
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Mar 20, 2017 21:59
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Krispy Kareem posted:I get it. Look at everyone who says, "I'm taking this 2nd mortgage or 401k loan to pay off my credit cards" and see what happens two years later when their cards are maxed out again plus now there's this line of credit. That's pretty much how I feel about it. The sooner I'm debt free the better. Just ~33,000 to go  . Even if my debts were lower rate than investments, the mental aspect would be worth it.Of course then I'll go hundreds of thousands of dollars in debt to buy a house.
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Mar 20, 2017 22:03
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22 Eargesplitten posted:That's pretty much how I feel about it. The sooner I'm debt free the better. Just ~33,000 to go Once you have a house you'll find excuses to put yourself more in other debt because it's lower interest than the mortgage. I had $20k saved up to buy a new economy car, and ended up instead financing the whole thing at 1.9% and throwing that 20k at the mortgage. Good with money, but now I have a car note.
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Mar 20, 2017 22:11
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ate all the Oreos posted:Isn't that outright less than inflation, to the point where you could just invest the money you'd otherwise use to pay it off on some very safe investment and come out ahead? Why yes, yes it is, which is why I will probably never pay more than the absolute minimum on it. It's also why I'm maxing it out even though we could live off my girlfriends income. The Dave Ramsay thing was a bit of a hyperbole, and I do think it's good that he helps people get on the right track. I am however pretty sure that most people could just read on the net for a while and get the point without having to sell their house. At least his books / courses you need aren't expensive.
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Mar 20, 2017 22:30
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Twerk from Home posted:Once you have a house you'll find excuses to put yourself more in other debt because it's lower interest than the mortgage. I had $20k saved up to buy a new economy car, and ended up instead financing the whole thing at 1.9% and throwing that 20k at the mortgage. Good with money, but now I have a car note. Come to think of it, I've probably got another $30-40k in student loans coming when I finish my BS in marine equine biology (computer science). Hopefully less than that, since if I stay at this company they offer $3500/yr education reimbursement, and I won't be going until I can pay a lot of it out of pocket anyway. The GWM thing would probably be going to somewhere like WGU instead of CU Boulder, but that's more of a topic for my own thread. 22 Eargesplitten fucked around with this message at 23:13 on Mar 20, 2017 |
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Mar 20, 2017 23:10
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22 Eargesplitten posted:That's pretty much how I feel about it. The sooner I'm debt free the better. Just ~33,000 to go Dude, haven't you been paying attention? House debt is good debt. Or at least it's debt whose interest you can deduct. But by that metric student load debt is pretty good too.
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Mar 20, 2017 23:57
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BRB, buying $1m McMansion with 1% down I'm borrowing from my parents and claiming to be my own.
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Mar 20, 2017 23:59
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Well, here's a bad with money thing. Unintentionally, but, uh, wow. Stuff of nightmares: http://abcnews.go.com/US/snake-house-family-home-idaho-turns-satans-lair/story?id=13851600 A family in Idaho thinks they're getting a great deal on a new McMansion-style home. You know, five bedrooms, new construction, that sort of thing. It's in Idaho, so the whole thing was sold for less than 180k. The house is literally built on top of a massive garter snake pit. The current (?) owners fled the home a few years ago after catching 43 snakes in a single day. The kicker? The real estate agent lied to them, saying that the previous owners (who also fled) "made up the snake story to get out of paying their mortgage". The family tried to sue, and the case was dismissed because they did sign a paper saying they'd been told about the snakes (and lied to about the reason, but whatever). Family is now bankrupt. They had to literally walk away from the place and lost everything to Chase Bank. GG capitalism! At least - apparently - the neighbors now take it upon themselves to warn prospective buyers away. Yes, the bank is continuing to try to sell the house, and real estate agents are still showing it. Warning - link has autoplay video of sneks. Thursday Next fucked around with this message at 00:08 on Mar 21, 2017 |
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Mar 21, 2017 00:04
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Thursday Next posted:Well, here's a bad with money thing. Unintentionally, but, uh, wow. Stuff of nightmares: That would probably be a great house for the right buyer. The snakes will eat mice and insects, while being completely uninterested in getting into your food. Desiccated snake poop in your crawl space isn't a big deal. Maybe get a terrier to encourage the snakes to stay out of the inhabited parts of the house.
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Mar 21, 2017 00:13
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Facebook Aunt posted:That would probably be a great house for the right buyer. The snakes will eat mice and insects, while being completely uninterested in getting into your food. Desiccated snake poop in your crawl space isn't a big deal. Maybe get a terrier to encourage the snakes to stay out of the inhabited parts of the house. Realtor spotted. Garter snakes are the ones that smell like sulfur, right?
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Mar 21, 2017 00:16
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They said the water tasted like the snakes had been in it. Can't you just pay some exterminator $50k to get rid of them and the nest?
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Mar 21, 2017 00:18
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How did the family tour the place and get a house inspector to look at it and nobody saw snakes?
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Mar 21, 2017 00:18
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Blinky2099 posted:They said the water tasted like the snakes had been in it. How do they know what snake water tastes like? Hmm? It is the snakes winter nesting ground, so even if it seems like you got them all, more could still come back next year because it smells like a snake den. You'd need to kill all the snakes plus somehow snake-proof the house.
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Mar 21, 2017 00:27
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For real, did they give each snake a $20 bill to stay out of sight during open house sessions? Also I don't understand why an exterminator couldn't knock them out for good but also I know very little about snakes
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Mar 21, 2017 00:28
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KingSlime posted:Also I don't understand why an exterminator couldn't knock them out for good but also I know very little about snakes Hundreds of local snakes overwinter in/under this house. Kill all those snakes, and the nearby snake-food species increase. This abundant food supply will attract other nearby snakes. Then when winter comes the new snakes will look for a den, and this house smells like a snake den to snakes. It might take a few years to get this bad again, but the snakes will probably be back. To permanently solve the problem they'd need to kill all the snakes and somehow make the house less attractive to snakes. Facebook Aunt fucked around with this message at 01:25 on Mar 21, 2017 |
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Mar 21, 2017 00:36
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Hmm that makes sense. So then that leaves us with the following question: if the problem is this bad how did the prospective homeowners not notice anything before signing on for being on the hook for $180,000? Did they not Google the property or ask any neighbors or come across the apparently now famous YouTube video? I swear to god, we Americans are so desperate to get in debt that we don't even check if our future investment is literally a snake pit before signing the dotted line.
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Mar 21, 2017 01:23
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Facebook Aunt posted:Hundreds of local snakes overwinter in/under this house. Kill all those snakes, and the nearby snake-food species increase. This abundant food supply will attract other nearby snakes. Then when winter comes the new snakes will look for a den, and this house smells like a snake den to snakes. It might take a few years to get this bad again, but the snakes will probably be back. Exactly. Apparently, it's a giant - like, tens of thousands kind of giant - pit where garter snakes go to nest and mate and stuff. I don't mind snakes but I would mind very much seeing hundreds of them in my house. Sneks are cool in moderation, not cool in giant stinky sulphur-reeking pits of writhing yuk. Plus, their bites can hurt like a motherfucker. I know garter snakes are, like, the definition of helpful snakes. I still don't want wild animals of any type biting me on the reg. And if sneks get startled / stepped on, they would naturally bite. I do not want to open a cabinet and have sudden snek-hair. I similarly would not want sudden wild chipmunk hair, or sudden feral cat hair, or sudden opossum hair. It's just awful to me that the realtor can literally lie to the couple and there were no repercussions. The woman was pregnant IIRC, and being startled over and over again, stressed as gently caress, etc, could have been serious. basically gently caress capitalism Thursday Next fucked around with this message at 01:32 on Mar 21, 2017 |
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Mar 21, 2017 01:26
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KingSlime posted:Hmm that makes sense. Yeah, agreed as hell. That's why I put them in the Bad-With-Money thread. You're about to make the largest purchase of your life; the thing that people literally go into debt for the rest of their LIVES for. You should consider Googling the address, maybe? Then again, I live in a city where buying a house is Bad. I just... I just can't imagine shackling yourself to so much drat debt without doing basic research.
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Mar 21, 2017 01:31
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Also the assumption that your real estate agent is on your side is so laughably misguided. I think the problem might sometimes stem from the fact that smart/ambitious/driven/whatever people want to make money, and the easiest way to do so is to hustle people that are slower or less informed than yourself. Of course this is a very simplified take on a large, complex issue but there has to be a breaking point eventually. Unchecked greed is bad for us all yo
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Mar 21, 2017 01:35
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KingSlime posted:Hmm that makes sense. It isn't like the snakes put up a sign advertising they built Cobra-La under the house. It's a s Name den, so it's likely under the house or extremely close, probably a pretty small tunnel going to it. At the very least they wouldn't have any rodents near the house.
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Mar 21, 2017 01:36
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MrOnBicycle posted:Why yes, yes it is, which is why I will probably never pay more than the absolute minimum on it. It's also why I'm maxing it out even though we could live off my girlfriends income. Most of the people that he helps aren't just going to read on the net for a while and understand. That's like telling the guy with the self inflicted gunshot wound to hit up WebMD.
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Mar 21, 2017 01:36
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If they had to sign a disclosure about the snakes I put the blame squarely on them. How loving stupid can you be not to look and see if there are any snakes around after seeing the disclosure?
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Mar 21, 2017 01:44
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therobit posted:If they had to sign a disclosure about the snakes I put the blame squarely on them. How loving stupid can you be not to look and see if there are any snakes around after seeing the disclosure? It's like the classic cons that take advantage of people's greed. They were told that the previous owners got out of paying the mortgage because of snakes (which makes no sense), and that is why the home is a bargain (taking advantage of the bank for believing the snake story), and then they get conned themselves. It's the same reason people fall for the Nigerian Prince scam, when your average law-abiding citizen is reading that and thinking "yeah I'm not going to help you commit a crime."
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Mar 21, 2017 01:47
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Hence my point about knowingly screwing over someone who is clearly way, way dumber than you. It just seems Not Nice, the kind of thing that "I was just doin mah job" shouldn't excuse
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Mar 21, 2017 01:48
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KingSlime posted:Hence my point about knowingly screwing over someone who is clearly way, way dumber than you. Exactly. I mean, they should have Googled the thing. That's why I put them in the BWM thread. But that said, the realtor lying outright to them is lovely and should not be legal.
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Mar 21, 2017 02:07
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Thursday Next posted:Yeah, agreed as hell. That's why I put them in the Bad-With-Money thread. You're about to make the largest purchase of your life; the thing that people literally go into debt for the rest of their LIVES for. You should consider Googling the address, maybe? This is a common problem everywhere. People seem to think they are experts on housing and don't spend money getting appropriate advice or doing basic research. Most buy a rotting box that hasn't been maintained since it was constructed. Then there is all this "surprise maintenance" because the house is hosed. However everyone in the west seems to love debt and taking on the liability of a poorly maintained house.
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Mar 21, 2017 02:53
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Facebook Aunt posted:That would probably be a great house for the right buyer. The snakes will eat mice and insects, while being completely uninterested in getting into your food. Desiccated snake poop in your crawl space isn't a big deal. Maybe get a terrier to encourage the snakes to stay out of the inhabited parts of the house. gently caress a terrier, get a half a dozen mongooses and watch the carnage. After like a month you'd have to bring snakes in because the mongooses would be getting bored with nothing left to murder.
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Mar 21, 2017 04:02
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The correct term is mongeese.
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Mar 21, 2017 04:12
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Wish I hadn't opened this thread right before bed
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Mar 21, 2017 04:17
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KYOON GRIFFEY JR posted:Most of the people that he helps aren't just going to read on the net for a while and understand. That's like telling the guy with the self inflicted gunshot wound to hit up WebMD.
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Mar 21, 2017 08:21
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Sounds like someone needs to buy that house and use it as the set for a reality show. Get a dozen 15-minute famers from other shows, see who lasts longest.
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Mar 21, 2017 12:26
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Ashcans posted:Sounds like someone needs to buy that house and use it as the set for a reality show. Get a dozen 15-minute famers from other shows, see who lasts longest. SNAKE HOUSE
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Mar 21, 2017 13:08
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Krispy Kareem posted:Dude, haven't you been paying attention? House debt is good debt. Except you roof out of being able to deduct student loan interest at like 150k AGI
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Mar 21, 2017 13:46
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Oh man I missed the Snake House segment of the thread before mashing  post
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Mar 21, 2017 13:51
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EAT FASTER!!!!!! posted:Except you roof out of being able to deduct student loan interest at like 150k AGI The rich don't need that deduction.
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Mar 21, 2017 15:27
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EAT FASTER!!!!!! posted:Except you roof out of being able to deduct student loan interest at like 150k AGI Let me break out my violin here
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Mar 21, 2017 15:31
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Krispy Kareem posted:The rich don't need that deduction. Nail Rat posted:Let me break out my violin here If you and your spouse make 150k but between you have a few hundred grand of student loan debt, then yes, it would make a difference to be able to deduct the interest. If you make 400K, maybe less so, but there are definitely people right on the margin of making just enough to reach that ceiling and not enough to pay of their loans any time soon.
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Mar 21, 2017 15:37
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EAT FASTER!!!!!! posted:Except you roof out of being able to deduct student loan interest at like 150k AGI Wait really? That's not that much. You can deduct mortgage interest well past that, all the way to $300k before it starts being phased out. The mortgage interest deduction most benefits somebody with $300k in income and a $1 million dollar mortgage.
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Mar 21, 2017 15:42
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EAT FASTER!!!!!! posted:Except you roof out of being able to deduct student loan interest at like 150k AGI Guillotine.
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Mar 21, 2017 15:42
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Dr. Chaco posted:If you and your spouse make 150k but between you have a few hundred grand of student loan debt, then yes, it would make a difference to be able to deduct the interest. If you make 400K, maybe less so, but there are definitely people right on the margin of making just enough to reach that ceiling and not enough to pay of their loans any time soon. Since it's AGI though, you're talking about someone who most likely has well over 150k gross household income. They should be maxing two 401ks, for starters, particularly because they won't see that big a reduction in their take-home pay. Even moreso if they pay state and local taxes. I mean, there's a logic to it. A household that's approaching 200k gross income, they're reaping a lot of benefit from their degrees. I'm not sure other taxpayers need to subsidize their college debt. Nail Rat fucked around with this message at 15:52 on Mar 21, 2017 |
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Mar 21, 2017 15:46
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