Remembering TCPaul, 2016-2019

Never ending need for low cost labor

You look at the jobsites and it is this never ending cavalca demwave04/01/19
Why hasn't Trump fulfilled his promise of bringing back good therewillbeblood04/04/19
Well, 196,000 new jobs were created in March. Wages are up patenttrollnj04/06/19
Clearly the work of the tax cuts and job act. bigsal04/06/19
And in expensive cities at that. mtbislife04/01/19
So true. Unfortunately, with a continued high glut of attys catwoman33304/02/19
20 to 40 per hour is a good second job for a lot of people. tttpride2504/01/19
If your secondary earner is making 70k you are doing alright pherc04/02/19
For real. Even with two $70K incomes, you are probably comfo superttthero04/02/19
Median household income in the US is 59k triplesix04/02/19
Median geography if you live in the us is topeka kansas wher demwave04/03/19
But so many (minimum wage, part time) jobs were created so w mtbislife04/03/19
The train is rolling; don't get left behind... The United jeffm04/04/19
I’ll confess that I don’t know how people do it - 11 mil dupednontraditional04/04/19
I have seen the difference in behavior between self-made mil jeffm04/04/19
Vast majority of wealthy in that 11 million are people who o triplesix04/04/19
Agreed, I always do those things myself and its the correct mtbislife04/04/19
A loose sense of ethics seems to be a pre-requisite too. superttthero04/04/19
In my experience (and through my biased lenses), the people jeffm04/04/19
I think the millionaire stat you list is misleading. Million demwave04/04/19
Exactly, thats a key distinction. mtbislife04/04/19
Of course, just a single news story anecdote. But it rem superttthero04/09/19
hahaha... "Police said Lippi also bought a $150 Keurig c wutwutwut04/09/19
The real issue: kmarts still exist jmoney04/11/19
“No one can earn a million dollars honestly.” A few do b mtbislife04/04/19
Lottery winner, inheritance, or bank robbery. catwoman33304/04/19
Sure you can. I've known plenty of people who made at least cranky04/05/19
There are so many millionaires because assets have appreciat guyingorillasuit04/06/19
But you have to have bought assets not liabilities see kiyos demwave04/06/19

demwave (Apr 1, 2019 - 3:18 pm)

You look at the jobsites and it is this never ending cavalcade of demand for what qualify as second jobs in a family. Typically for the "second" wage earner. Paralegal and attorney jobs for 45k-70k as far as the eye can see. That might have been good pay in 1993 but it is 2019 now!

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therewillbeblood (Apr 4, 2019 - 11:45 am)

Why hasn't Trump fulfilled his promise of bringing back good, well-paying middle-class jobs?

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patenttrollnj (Apr 6, 2019 - 7:19 am)

Well, 196,000 new jobs were created in March. Wages are up too, and jobless claims are at a 49 year low.

So Trump is fulfilling his promise ...... just not for lawyers and jobs that require an advance degree.

And, frankly, so long as people talk about issuing more H-1B visas, professional jobs and wages won't go up.

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bigsal (Apr 6, 2019 - 9:14 am)

Clearly the work of the tax cuts and job act.

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mtbislife (Apr 1, 2019 - 3:50 pm)

And in expensive cities at that.

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catwoman333 (Apr 2, 2019 - 9:21 pm)

So true. Unfortunately, with a continued high glut of attys in the US, it's an employers' market, and I just don't see that low pay scale changing anytime soon. I've had to decline multiple job offers in the last few years--including multiple AA/DW jobs in gov.--because, I just couldn't afford the high cost of housing on $68k+ in the big cities where the jobs were located.

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tttpride25 (Apr 1, 2019 - 6:38 pm)

20 to 40 per hour is a good second job for a lot of people. Turning that 6o-70k income into 100k+ can be worth it. Mediocre talent is not worth more than 75k. That is just true.

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pherc (Apr 2, 2019 - 7:35 am)

If your secondary earner is making 70k you are doing alright. Most people don’t earn that much.

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superttthero (Apr 2, 2019 - 9:36 am)

For real. Even with two $70K incomes, you are probably comfortable enough that you get to complain about not "feeling" rich.

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triplesix (Apr 2, 2019 - 10:17 am)

Median household income in the US is 59k

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demwave (Apr 3, 2019 - 7:54 pm)

Median geography if you live in the us is topeka kansas where i bet 59k goes far. My complaint is with the us system: it seems it is built for 1 general and 1000 privates. Maybe 1 general and several dozen other officers and maybe 750 privates works better? Our system is great at creating these low wage jobs and/or eliminating well paying jobs and then replacing them with the equivance of 1 general and 1000 privates all with the related salary differentials.

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mtbislife (Apr 3, 2019 - 11:32 pm)

But so many (minimum wage, part time) jobs were created so we must be doing just fine.

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jeffm (Apr 4, 2019 - 12:23 am)

The train is rolling; don't get left behind...

The United States added 700,000 new millionaire households in 2017, according to a new report from the Spectrem Group. The U.S. now has close to 11 million millionaires, up 6 percent from 2016, according to data from the Spectrum Group's Market Insights Report 2018.

https://www.desmoinesregister.com/story/life/features/2018/03/24/heres-how-many-millionaires-there-are-in-the-us/33205747/

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dupednontraditional (Apr 4, 2019 - 6:39 am)

I’ll confess that I don’t know how people do it - 11 million millionaires out of roughly 150 million working adults in the US is around 7%.

I must not be entrepreneurial enough, or not finding the right jobs, or something. Student loans certainly don’t help, and add to the feeling of not being “rich” as discussed above. To demwave’s point there seem to be one “real” job for every thousand cannon-fodder jobs these days when taking inflation into account.

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jeffm (Apr 4, 2019 - 8:44 am)

I have seen the difference in behavior between self-made millionaires and the rest of us. These people often have more of a nose for money than others. Others consider money as a necessary evil. They live to have fun, and money is a means. They aren't really motivated by it, but they need it.

The self-made millionaires treat money as an ends, not a means. Their enjoyment is in obtaining money. They don't waste it. They don't put old junk on the curb for trash pickup. They put it on Craigslist and eBay. They live their lives around money. Not that they're greedy or obsessed; they just respect it so much more.

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triplesix (Apr 4, 2019 - 9:30 am)

Vast majority of wealthy in that 11 million are people who obtained their wealth from family.

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mtbislife (Apr 4, 2019 - 10:59 am)

Agreed, I always do those things myself and its the correct mindset to have but the “Millionaire Next Door” advice of shop at JCPennys and be frugal only goes so far now. You have to have some kind of business or invest in real estate to acheive financial freedom. The point of an employee is to be used, and most employees get treated accordingly.

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superttthero (Apr 4, 2019 - 11:09 am)

A loose sense of ethics seems to be a pre-requisite too.

I'm not saying that they're outright criminals (though many are) but a willingness to put yourself waaay ahead of others, fairness and ethics be damned, is important.

In an ideal world, we are all satisfied with a deal where I make $50K and you make $50K (hell, even 60/40). Today, if I can make $54K and you lose money, most people that are wealthy or money obsessed push for that.

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jeffm (Apr 4, 2019 - 11:35 am)

In my experience (and through my biased lenses), the people you describe aren't really wealthy. They play like high rollers. Make a lot; spend a lot.

The ones I had in mind are just plain folks who are very consistent. They tend not be sharp dealers, but they're not dumb, and they certainly won't negotiate against themselves. They just don't go for the juggler when there is a victim to be had.

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demwave (Apr 4, 2019 - 2:58 pm)

I think the millionaire stat you list is misleading. Millionaire is not net worth. I think most of those millionaires have probably like 200k+ in a 401k and 60% equity in a home. In any big city that is about a million dollars. It aint no big deal if you 1) contributed regularly to a 401k and 2) bought a house and continue to make payments through the years.

My definition of millionaire is a little bit different. How many people have $1 million dollars liquid? Not counting RE or 401k or pensions. Do you have cash or a bond/stock portfolio that can be liquidated in an instant and yield $1 million dollars? I also heard only like 15-16 million people worldwide can say that and like 5.5 million are in the US.

Jeffm what you say about attitudes toward money is 110% true. To the wealthy money is an end. To others it is a means!

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mtbislife (Apr 4, 2019 - 3:49 pm)

Exactly, thats a key distinction.

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superttthero (Apr 9, 2019 - 9:52 am)

Of course, just a single news story anecdote.

But it reminded me of this discussion.

https://www.yahoo.com/gma/man-accused-stealing-kmart-days-buying-8-million-054855742--abc-news-topstories.html

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wutwutwut (Apr 9, 2019 - 10:18 am)

hahaha...

"Police said Lippi also bought a $150 Keurig coffee machine on March 30, returned it and received a full refund a day later. Kmart employees notified the store's loss prevention officer after realizing the coffee machine box instead contained a basketball, according to police."

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jmoney (Apr 11, 2019 - 12:23 am)

The real issue: kmarts still exist

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mtbislife (Apr 4, 2019 - 3:54 pm)

“No one can earn a million dollars honestly.” A few do but if you take a closer look often times something questionable or insider occured.

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catwoman333 (Apr 4, 2019 - 11:58 pm)

Lottery winner, inheritance, or bank robbery.

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cranky (Apr 5, 2019 - 10:31 am)

Sure you can. I've known plenty of people who made at least a hundred thousand a year. After 10 years, they have made over $1,000,000. Most of these people are responsible enough to also be saving in their retirement accounts and investing in brokerage accounts. Over time, it is not surprising that they can become multi-millionaires. As I've mentioned before I worked for lousy little law firms that didn't pay well, before going solo and being able to make a lot more. I had the luxury of not having any school loans and a small bit of family support. It's taken quite a while, and I'm still cheap (recommend The Millionaire Next Door book), but I have amassed some wealth to feel comfortable. It is possible esp. if you start saving & investing in your 20s, don't marry a leech who is bad with money, don't squander your paycheck, etc.

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guyingorillasuit (Apr 6, 2019 - 11:29 am)

There are so many millionaires because assets have appreciated so much in the last 10 years.

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demwave (Apr 6, 2019 - 6:57 pm)

But you have to have bought assets not liabilities see kiyosaki.

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