patrick.net

bdrasin says

"Being wage slaves" is what your parents used to call "working for a living". The last thing the world needs is more trust fund slackers.

Alameda CA? Everybody's a wage slave... look at real estate prices ESPECIALLY the people who work for a living. I don't want to pay health care,retirement, or second home mortgages for greedy Cali baby boomer "middle class" retirees with a million dollars in home equity in the middle of a reinflating housing bubble.

Personally, in my opinion being able to live off dividend income whether they be off of individual equities, or bond mutual funds is the true american dream instead of being the homeowner. However, bond mutual funds have always been taxed as ordinary income (municipal bond funds being the exception) so it's not as though one is living high on the hog off of this cash flow via tax advantages. Well, you can always keep them in the roth ira and not pay tax, but then you can't touch the "earnings" unless you r 59.5 and had the account open for 5 years. In which case, you can't really quit the "rat race." As far as pure capital gains oriented funds go, they tend to be much more volatile and while they do enjoy favorable tax structure, they have a much bigger speculative feel of "paper wins" and "paper losses" till cashed out.

anon12366 says

bdrasin says

"Being wage slaves" is what your parents used to call "working for a living". The last thing the world needs is more trust fund slackers.

Alameda CA? Everybody's a wage slave... look at real estate prices ESPECIALLY the people who work for a living. I don't want to pay health care,retirement, or second home mortgages for greedy Cali baby boomer "middle class" retirees with a million dollars in home equity in the middle of a reinflating housing bubble.

Don't look at me, I rent.

anon12366 says

I don't want to pay health care,retirement, or second home mortgages for greedy Cali baby boomer "middle class" retirees with a million dollars in home equity in the middle of a reinflating housing bubble.

You can always move to the Rust Belt. Here in Corning-Elmira you can buy a modest house for $100k in a safe neighborhood. For $200k you can have a large and very nice house.

Just be sure you have a good job lined up before you move here, of course.
;-)

wthrfrk80 says

anon12366 says

I don't want to pay health care,retirement, or second home mortgages for greedy Cali baby boomer "middle class" retirees with a million dollars in home equity in the middle of a reinflating housing bubble.

You can always move to the Rust Belt. Here in Corning-Elmira you can buy a modest house for $100k in a safe neighborhood. For $200k you can have a large and very nice house.

Just be sure you have a good job lined up before you move here, of course.

;-)

You know who should be living in cheap housing in the middle of nowhere? Retirees, baby boomer hippies... not young working adults with families.

Do you know who should be "house poor"? Unemployed, government assistance-dependent retirees, not mortgage-indebted young working adults with families and children.

anon12366 says

You know who should be living in cheap housing in the middle of nowhere? Retirees, baby boomer hippies... not young working adults with families.

Agree. But this is America!

Yeah, Corning-Elmira is a bit isolated. Other Rust Belt cities have more to do.

Then there are places like Dallas/Fort-Worth, Houston, Atlanta, and Chicago that have a "moderate" cost of living and still have plenty of urban amenities.