How to avoid that future?

fnordsnord · 2015-03-09T03:28:25+00:00

Look at your field. Look for short-term contact jobs in exotic places with a living allowance in addition to your salary.

Bank your money. Live well, but simply. A NICE efficiency apartment with great furniture and a smokin' wide screen costs a lot less than a house and leaves you WAY more money to travel and save for your retirement.

I own five buildings including my home. I have a pal who owns four pairs of pants and two musical instruments. And that's all. (Okay, he has some shirts, too.)

One of us goes to Italy every winter. Hint: It's NOT me.

He avoided debt, never married, and does just about whatever the fuck he wants, whenever he wants to. He has friends, family, and a musical following.

He stays in simple, cheap rooms, but I'm not ready to say "he's doing it wrong."

Take short term work in exotic places. Save your money. Avoid debt. Don't marry.

Oh - Not quite COMPLETELY brainwashed and broken here.

penguin_says_slide · 2015-03-08T23:43:47+00:00

Think and Grow Rich by Napoleon Hill...download it and read it!

Squeezymypenisy · 2015-03-08T23:43:52+00:00

Lol then why did you do engineering? Do you actually like it or just did for good job prospects?

mindfucks · 2015-03-09T02:28:04+00:00

So... don't buy a house right out of college?

It also doesn't really take 20 years to pay off a house, unless you are in a major (read: expensive) city.

beer77 · 2015-03-09T03:13:14+00:00

Don't buy a house. Buy a condo in a normal area, preferably one that needs some work (so it's cheaper). Do the work you can yourself - you can teach yourself a lot of things. Contract out what you can't do/don't want to do. Make sure the HOA allows you to rent the condo out. Pay it off early by making the same payments you would have on a house, buy another one, rent the first one out. Repeat.

Or just pay it off early. Now you only have HOA dues and property taxes. Do something else productive with the money.

But even with the best scenario, I still have to work like a slave and not be able to do what I really want

What do you really want?

oldredder · 2015-03-09T02:05:44+00:00

Here's what you do: DO NOT GET THAT HOUSE. Almost everyone getting a house now in America is going to see that property value decline 25% to 80% in the next 3 years and have no way to sell the house to get a new job and that means losing the job to keep the house.

Or selling the house at a giant loss to keep the job.

Rent now. Do not own, do not buy. It's the wrong time of the decade to do this.

This will save you TONS of money immediately.

NEXT: debt. What debt was there besides the mortgage you now know you DO NOT NEED? Do not get secured collateral-backed debt.

No house loan, no car loan. You can lose the collateral.

With unsecured credit like a plain visa card you can NEVER be legally liable for it. You just get bad credit if you don't pay but you can do that once every 7 years and GIVE ZERO FUCKS and keep all the money you spent (all the stuff) and they can do NOTHING but go to collections.

7 years passes and they don't even ask/care anymore.

This will immediately remove you from financial slavery. No debt, no "fake ownership" of a home that actually the GOVERNMENT owns and you can never fully own. Property tax is forever-rent to the real land owner which is never you.

Title	How to avoid that future?
Author	[deleted]
Upvotes	5
Comments	13
Date	March 8, 2015 11:27 PM UTC (11 years ago)
Subreddit	Posted in /r/askTRP
Original Link	https://old.reddit.com/r/asktrp/comments/2ydv1d/how_to_avoid_that_future/
Archive Link	https://theredarchive.com/r/askTRP/how-to-avoid-that-future.146810 https://theredarchive.com/post/146810

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