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  • On 19 Sep 2014 in Scotland, fuck yeah!, yup1 said:

    Now we know whats not under the kilt......ballz!

  • On 18 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    bubblesitter says

    Math gets murky day by day.

    129332 (way to come up with 10k more income)
    -17500 401k
    -5500 IRA
    -9129 FICA (FICA is based off of gross income)
    -600 SDI
    -8270 FIT
    -2910 SIT
    -48000 PITI
    -15000 529
    -12000 Food/ENT
    -4800 Utilities/cable/internet/insurance

    +5623

    Using your numbers but adjusting for your totally light FICA your disposable income gets smaller and smaller.

    Oh damn I forgot you only spend $500/month on a family of 4 for food/ent ROFL

    yup1 says

    Our $12K is more like $6K for Food/ent;

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    My point is that his home is still way too expensive for him. He is living like a poor guy in a million dollar home. He is house poor and has no clue that he is house poor. His neighbors they know he is house poor. His kids they know. His wife oh yeah she knows.

    Keep on bragging about your paper gains and how you buying a house was a great investment. I will keep laughing at you saying your food and entertainment budget for a family of 4 is $500/month and with a straight face claiming you are not house poor........

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    All with a salary between me and my wife of $120K/yr.

    You keep changing the facts!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    BTW, my wife decided to work part time to raise our kids. She is now going back full time and switching jobs. That should at least double her income since her pre kid salary was 3.5X the current. Still want to say Im overspending?

    So you have had this discussion and only now you are going to divulge that yes in fact you have more income, which was my whole fucking point. ASS!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    http://www.fns.usda.gov/sites/default/files/pd/18SNAPavg$PP.pdf

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    yup1 says

    You will also notice that I only allocated $1000/month for food/ent/household goods/pet care/pet food/kids clothes/your clothes/haircuts/makeup/gas/maintenance/repairs/travel/and your trips to the Wendy's value menu..........

    Waitingtobuy says

    Our $12K is more like $6K for Food/ent;

    $500/month for a family of 4? That is $1.38 per meal per person. You are a fucking liar. SNAP (FOODSTAMPS) pays $604/month for a family of 4 in California. You are living off 80% of what a broke dick homeless, living in the car single mother of 3 lives off of, but you are in a million dollar home.

    SO JUST IN CASE YOU STILL DON'T GET IT YOU SAID YOU ARE GOOD AT MATH, YOUR MATH DOES NOT ADD UP, THAT MEANS YOU ARE LYING BECAUSE NUMBERS DON'T LIE!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Must be nice to have free health insurance......

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    129332 (way to come up with 10k more income)
    -17500 401k
    -5500 IRA (which I don't think is legal with a 401k)
    -4590 FICA
    -600 SDI
    -5500 FIT
    -2000 SIT
    -48000 PITI
    -15000 529
    -12000 Food/ENT
    -4800 Utilities/cable/internet/insurance

    +13842

    -15000 profit sharing that I will assume comes from your company and not out of your 129k salary although I will point out that you made it seem as though it came out of salary.

    You will also notice that I only allocated $1000/month for food/ent/household goods/pet care/pet food/kids clothes/your clothes/haircuts/makeup/gas/maintenance/repairs/travel/and your trips to the Wendy's value menu..........

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    Enlighten us on your situation. Do you own or rent? How much? Any money in the bank for emergency fund, college, retirement? Im curious. Or do you just enjoy taking pot shots? Pony up or shut up, Suze Orman.

    I make more than you, my house payment is less than half of yours and is a 15 year loan, I have a 1 year emergency fund, I have retirement savings and am on track to have way more income than I need at age 62, I am planning on paying off my house in the next 5 years.

    I know you are full of shit because I have layed out cash light outlays for some of your expenses and I have burned up ALL OF YOUR INCOME! Pony up where are you getting the 5-10 K to live off of you cheap million dollar home "owner".

    Waitingtobuy says

    Yes, I was making $240K before the downturn when the money was good. (ESPN was a client) Now, it's about half. Was able to save a lot then.

    You PERMANENTLY lost half your income 5 years ago and bought a house that you can barely afford. I stand by my statement, you are an idiot!

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    You claim that you make 120k and live in a house you bought for 800k that is now worth 1M.

    A. You wouldnt qualify for the loan
    B. Your claims of all your savings for retirement and kids college would leave you with no money.
    C. You are admitting that you live like a poor person in a million dollar home. I would hate to be your neighbor.
    D. You spend way too much money on housing for your income. You are a super saver but drop 4k a month on rent or mortgage, that would be ok if you made 200k but not at 120k. You do realize you make 10k/month BEFORE taxes and you are saying spending 40% of your pretax income on a house is OK. Really.....
    E. When did you save this 100k? You rented for $3800 from 07 through 11 and now you live paycheck to paycheck which means you lived paycheck to paycheck from 07-14.

    You are a housing snob. You got completely lucky on your timing of buying and selling houses. Now you are on here with a stupid thread about how your house is not a terrible investment when you are house poor. In my opinion it makes you look like an idiot. You under estimate the cost of everything in your million dollar home. If you own it for even 10 more years all the shit you said you would just fix will have to be replaced. Kitchen, bathrooms, HVAC, you are talking about full replacements which in a million dollar home you are going to get raped by every contractor. Wake up. Sell your overpriced home that you cannot afford and buy a home you can afford. Think of it this way you bet on housing 2 times and nailed it through blind luck. If the market crashes like 2008 you will be looking at your new neighbors paying 2k a month for the same home that they bought for half the price and you will be kicking yourself for not bailing.

  • On 12 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    This year I saved $38K in retirement. I also am contributing $12-$15K for my kids' 529s.

    You make 120k - (38k + 12k + 48k(PITI)) = 98k

    Waitingtobuy says

    Your estimates for taxes are way off (SSI was way less last year based on me receiving partner payments as half my income).

    ok 9k SSI + 98k = 107k+
    lahossain says

    $2,400 Electricity/Gas/Utilities

    $1,200 Cable TV/Internet

    $1,200 Insurance

    $12,000 Food/Entertainment (family of 4)

    No taxes 107k + 16.8k = 123,800 HOLY F*** exactly what I said here
    lahossain says

    $123,800

    No federal or state taxes yeah right....
    Broke dick million dollar beach home owner!

  • On 10 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    My current place is almost 14 years old. By the 15 year average I detailed, I should be replacing the HVAC (may do so, but likely wont; figure $3K of repairs), renovate the baths (I have nice baths so no; just painting the cabinets for $1500 and a new shower door of $1K), reno the kitchen (no again; new appliances over 15 years should run me $4K, and painting the cabinets to cost me $1500). I painted the outside for $4K, will again in another 10 years). Maybe roof repair of $4K, but doubt I will need another entire roof. One more carpeting run in 7 years of $2500. Total with the $20K I dumped in at the start and last three years is $41.5K. Figure another $4K in misc and unseen expenses. Average of about $3K/yr over 15 years.

    Your million dollar home is starting to look like some dude making 120k/year owned it. You will have a dump in 15 years with your idiotic amounts that you think you need to spend.

  • On 10 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    You're pretty accurate with the 401k, although I have a PSP and I401K, not 401K. I own a business and can deduct a lot to minimize my YE taxes.

    As for college, no one saves more for college than retirement. $56K is more like $12K-$15K/year these days. I've been saving since 2001. You can always borrow for college, but not for retirement. Below is proof. Notice the name of the 529 plan is included in the image.

    $17,500 retirement
    $15,000 College
    $18,000 SSI/Medicare
    $48,000 Mortgage PITI
    $6,500 Federal income taxes
    $2,000 State taxes (assuming CA)
    $2,400 Electricity/Gas/Utilities
    $1,200 Cable TV/Internet
    $1,200 Insurance
    $12,000 Food/Entertainment (family of 4)

    $123,800

    I went completely light on all your expenses in your million dollar home. You are completely house poor. You have zero money at the end of the month and if your car breaks down you will have to do a heloc to buy a new one. /golfclap

    The funny shit is that you think you have made good choices.

  • On 8 Sep 2014 in The Best New or Current Band in America, yup1 said:

    APOCALYPSEFUCKisShostikovitch says

    BLUE OYSTER CULT!

    Fear the Umlaut!

    I thought for you it would be Rage Against the Machine.

  • On 8 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    I've been accused of a lot of things. Being bad with math is not one. I'm what you call a supersaver for retirement, plan to retire at 55, and have nearly both kids college expenses paid for in their 529 plans, and the first won't graduate high school for 7 yrs. All with a salary between me and my wife of $120K/yr. The only debt I have is my mortgage, and I will likely downsize to live overseas in my wife's home country.

    Sucks that you are good at math because so am I. You say you make 120k/year between you and your wife and you are a SUPERSAVER for retirement. Lets do some math.

    $17500 saved for both you and your wife in 401k accounts = $35000/year

    $14000 per child for both you and your wife into 529 plan = $56000/year

    $3077/month mortgage = $37000/year

    GRAND TOTAL BEFORE LIVING EXPENSES AND TAXES $128000

    So unless your salary is 120k for BOTH you and your wife, not between you and your wife I would say you are full of shit!

  • On 8 Sep 2014 in I demand a formal apology from TurtleDove, yup1 said:

    You demand a formal apology on Patnet....really? Go back to your hookers.

  • On 7 Sep 2014 in I demand a formal apology from TurtleDove, yup1 said:

    Please delete this fucking horrible thread.

  • On 7 Sep 2014 in Why your house is NOT a terrible investment (or at least my house), yup1 said:

    Waitingtobuy says

    Make another prediction for me. What will $4K/month in rent look like in 27 years when my mortgage is paid off?

    After the global panic of 20XX, way before your 27 years of payments are done you will be handed your eviction notice :-)

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    The Professor says

    yup1 says

    That is what I mean by real people having access to all this fake fed money.

    So we agree that the money is fake. It is only a matter of time for the world to come to the same conclusion.

    The money is most definately fake.

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    The Professor says

    yup1 says

    The Fed can print all the ones and zero they want. If real people do not have access to this money, which they don't

    Who does? Aren't they real?

    Without wage inflation price inflation cannot stick. Even with all the money printing there has been wage DEFLATION. That is what I mean by real people having access to all this fake fed money. It is not happening. If we see broad gains in wages we will get some real inflation. Without wage gains we get demand destruction which is exactly what we have seen.

    I am wondering what currency you think the dollar will collapse against? Euro/Sterling/Yen/Yuan/Ruble? There is no currency pegged to anything of value for the dollar to collapse against.

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    mell says

    Quite some of the money found it's way to "real" people, just highly concentrated in the two sectors the financial industry mainly dabbles in: the stock and the housing market. The increase in housing prices, rentals and stocks shows massive inflation over the past 6 years.

    Maybe, maybe not.

    Company profits are also at all time highs which could be the reason for all time high markets.

    Housing was the most affordable that it has been in a generation in many markets which could be why prices have gone up.

    By the way there has been very little inflation in stocks and housing on an 8 year timeline.....

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    The thing about inflation is that people do make changes to mitigate inflation.

    In 2001 when gas was $2/gallon I drove a tank to work that got 10mpg, now at $4/gallon I drive a car that gets 40mpg. For me the cost of fuel to drive 12,000 miles per year has dropped more than 50%.

    In 2001 I bought a house at 7% interest PITI was $2250. This year I bought a house at 3.25% interest 15 year loan and PITI is $1700. Granted the new house is smaller and in a more rural area but I made the change to lower my costs.

    Even with all this inflation my two biggest expenses have dropped by $7500 a year and I will have a paid off mortgage in half the time. My wages have increased during the same time period, but even if they had not I would be much better off today.

    The Fed can print all the ones and zero they want. If real people do not have access to this money, which they don't, there will be very little inflation. This has been proven over the last 6 years. Inflation these days just leads to demand destruction as people swap out the old over priced crap and buy cheaper stuff.

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    The federal reserve was created to try and have a more stable financial system. Apparently it doesnt work as well as intended.

    Your comment

    The Professor says

    I have heard of several historical cases of hyperinflation but no cases of hyper-deflation.

    Hyper inflation of course can cause prices to increase hundreds, thousands, or even millions of percent. Deflation has a cap 100%, prices cannot drop more than that. I would say the great depression was "hyper deflation".

    What are you The Professor of anyway? I am betting it is not of economics, or the history of the great depression :-)

  • On 6 Sep 2014 in Stop predicting the dollar will collapse, yup1 said:

    The Professor says

    Do you have any examples of Hyper-Deflation or even a historical example of deflation not caused by increases in productivity?

    http://www.stlouisfed.org/great-depression/pdf/the-great-depression-wheelock-overview.pdf

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