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Old 03-15-2021, 08:19 PM   #99
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Originally Posted by FarmerFran View Post
You still always pay Uncle Sam. But congrats on being elite.



I pay uncle sam zero.
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Old 03-15-2021, 08:55 PM   #100
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Originally Posted by Vegas Bound View Post
I pay uncle sam zero.
You own no land?
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Old 03-15-2021, 10:05 PM   #101
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You own no land?
Yes, and Uncle Sam is federal not local.
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Old 03-15-2021, 10:41 PM   #102
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I have zero debt and zero taxable income. You can pay the redistribution costs. I'm done.
Wow. Sorry. The way you came across sounded like you were one of the ones counting on student loan forgiveness.

Quote:
Originally Posted by FarmerFran View Post
But congrats on being elite.
Please don't drag down this discussion with class warfare. Vegas Bound I'm sure has saved and sacrificed throughout their life to get where they are. Debt free should be everyone's goal and just because someone has achieved it doesn't mean they're any better or worse than you. Congratulate them, ask them how they did it and listen to what they say so you can do it too, and be happy that they achieved something they worked hard for.

Vegas Bound, congrats on being debt free. That's awesome!
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Old 03-16-2021, 12:08 AM   #103
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I don't know if anybody has mentioned it or not, but if you pay all cash for everything and never take out some credit cards or some type of loan, you will either have no credit or a very low credit rating. So when it comes time that you need to take out a loan such as a car or house, you will either be declined until you build some credit or get a very high rate. I know my credit could only go so high even when paying everything on time for years because my mortgage wasn't being reported to the credit bureaus due to being discharged years ago. I did have several credit cards that I always paid off and noticed if I left a small balance on them for awhile and then paid it off, it raised my credit rate slightly.
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Old 03-16-2021, 06:10 AM   #104
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Originally Posted by pyroguy View Post
Wow. Sorry. The way you came across sounded like you were one of the ones counting on student loan forgiveness.



Please don't drag down this discussion with class warfare. Vegas Bound I'm sure has saved and sacrificed throughout their life to get where they are. Debt free should be everyone's goal and just because someone has achieved it doesn't mean they're any better or worse than you. Congratulate them, ask them how they did it and listen to what they say so you can do it too, and be happy that they achieved something they worked hard for.

Vegas Bound, congrats on being debt free. That's awesome!
was being serious.
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Old 03-16-2021, 08:12 AM   #105
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was being serious.

Statistically speaking, I am a 5%er.
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Old 03-16-2021, 08:15 AM   #106
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Quote:
Originally Posted by pyroguy View Post
Wow. Sorry. The way you came across sounded like you were one of the ones counting on student loan forgiveness.



Please don't drag down this discussion with class warfare. Vegas Bound I'm sure has saved and sacrificed throughout their life to get where they are. Debt free should be everyone's goal and just because someone has achieved it doesn't mean they're any better or worse than you. Congratulate them, ask them how they did it and listen to what they say so you can do it too, and be happy that they achieved something they worked hard for.

Vegas Bound, congrats on being debt free. That's awesome!

Sarcasm is difficult to see on the internet.


Haters gonna be haters.


25-30 years ago, my net worth was less than $5K, now 5%er. It does take sacrifice and planning.
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Old 03-16-2021, 08:30 AM   #107
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Quote:
Originally Posted by Mrbobcat View Post
I don't know if anybody has mentioned it or not, but if you pay all cash for everything and never take out some credit cards or some type of loan, you will either have no credit or a very low credit rating. So when it comes time that you need to take out a loan such as a car or house, you will either be declined until you build some credit or get a very high rate. I know my credit could only go so high even when paying everything on time for years because my mortgage wasn't being reported to the credit bureaus due to being discharged years ago. I did have several credit cards that I always paid off and noticed if I left a small balance on them for awhile and then paid it off, it raised my credit rate slightly.
If you have zero debt and zero credit lines open 6-12 months later you will no longer have a credit score. If you have a zero credit score and you decide to get a mortgage you can still get a mortgage at an excellent credit rate provided you don’t have any bankruptcies, foreclosures, or repossessions in your history. This method is called ‘manual underwriting’. Not all banks/credit unions do it because they’re all set up with computers who do all of the work for them, but the ones interested in helping the individual will take the time and do the work. However, a low credit score will totally screw you.

As for a car loan, save up and pay cash and you’re credit concerns go away completely. Also, be careful about becoming car poor as that will kill your financial future too. My Camaro was my last payment car and if I had to do it over, I would have saved and paid cash for it. Thankfully 100% of my mods have been with cash.

Quote:
Originally Posted by Vegas Bound View Post
Sarcasm is difficult to see on the internet.


Haters gonna be haters.


25-30 years ago, my net worth was less than $5K, now 5%er. It does take sacrifice and planning.
Again, sorry. Sarcasm is hard to detect via text. That’s on me.

Very true haters gonna hate. Ultimately it’s jealousy that they don’t have what you have. Having paid the debt off that I’ve paid, I know you’ve had to sacrifice to get where you are. The fact of the matter is, if a person makes above about $35k USD a year, they’re in the top 1% globally for wealth.
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Old 03-16-2021, 08:59 AM   #108
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Originally Posted by Vegas Bound View Post
25-30 years ago, my net worth was less than $5K, now 5%er. It does take sacrifice and planning.
Sounds like me. It also takes a little luck regarding health. There are a number of terrible things that can happen to you that you have no control over.
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