@jalmondale I agree with everything you said...I don't agree with the headline "when your paycheck is what keeps you from achieving your goals"
@franceschances Of course I have...but the article highlights Brandi busting her tail for people that continue to be late or call off a job that probably does not have PTO. I doubt they can afford losing a days pay. Yes, Hardee's pays minimum wage. It's just hard to get a higher paying job when your current employer will have a hard time recommending someone who is late or doesn't show up to work.
@HelloTheFuture Yes, I misread that. Trina both times, Jeff, then Josh came in late too.
I read the article and of the 5 people they profiled, one person called off work and two showed up late.(hardly doing their jobs well) The shift manager had to pick up the slack. Wages aren't the problem when you can't show up to work to get paid.
Carrying a six-figure student loan around when you can pay it off is not smart, no matter the interest rate. Why not borrow another $100K in student loans if it is such a great deal? Also, the student loan interest deduction is phased out for high income earners. My guess is his "business manager" gets a commission on investments and has no interest in him paying down debt.
Depends on the time of day...I think I have a $500 withdraw limit on my ATM card. If a credit union was open, I would withdraw the money from checking or savings.
Mortgage companies are still willing to make people house poor. I was approved at twice the amount of mortgage I thought I could afford...30% debt to income ratio is way too high. After taxes, food, utilities, transportation, childcare, etc.....how can someone afford a house payment at 30% of their gross pay? Not to mention saving for retirement and/or college.
@SnarlFurillo Thank you for the insight! I was thinking the quality would be decreased by making CC's more accessible, or at least reduce the graduation rate. But, you're theory makes total sense. Why would a middle class family pay tuition when they could get it for free? I'm guessing they would at least start with income limitations.
@steponitvelma no worries, I only knew because I contribute $500 a month to these accounts. It is frustrating because the main theme of the speech was the strengthening of the middle class. 529's were designed to help middle class families send their children to college. Taxing 529's would be similar to taxing Roth IRA withdrawals. The other thing not mentioned is the proposal to eliminate the Educational Savings Account (ESA) under the same proposal. Changing these types of tax rules would be criminal.
@steponitvelma Current 529 contributions are AFTER TAX DOLLARS. Some states offer a tax break on contributions to their specific plans, but there is no federal tax break on the money put in. Obama is proposing a tax on withdrawals too. How does that make a 529 worthwhile? Deferred taxes on earnings of after tax dollars?