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RE: Living financially responsibly... something most grown rednecks do by default

in #rednecklast year

When I walk into a home with gigantic TVs, I feel sorry for the people who live there. The kids are nearly always on some sort of device, watching inane videos. How empty their lives must be of those things I consider to be essential! Walks in the woods, quiet moments sitting on my front porch, chatting with my neighbors, reading a good book.

One of my daughters has started working with a financial advisor. She recently started making a decent salary, and this guy has told her she can afford a 450k mortgage!!! I know first hand how quickly having a large mortgage can go bad, really really bad, and refuse to release the bit of money I have told her I will give her until she finds a home that I think she can afford, a good 300k less than what this idiot has told her she can comfortably buy. The assumption is that her salary will continue to go up, even though all economic signs are telling us otherwise. I also know a fellow, currently very well set, who went to school to become a financial planning guy. He was taught that unless you owe at least 16% of what you make in a year, you are not financially sound! HOW DOES THAT MAKE ANY SENSE AT ALL?! Shocking!!!

Anyway, Rednecks Rock. Make America Redneck Again.

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The assumption is that her salary will continue to go up, even though all economic signs are telling us otherwise

This is a terrible assumption and kind of reminds me of the one guy I knew in college who went on to become a professional NFL player. He spent as if he was always going to be making millions a year even though it is well documented that most NFL players only make it a few years, maybe 10 at the most. yet he got involved in financial decisions that were based on him making millions in perpetuity. He went completely broke and actually briefly had to move back in with his mom.

I feel like many financial advisors, particularly if they work for a bank, are actually there to intentionally screw you over.

unless you owe at least 16% of what you make in a year, you are not financially sound!

This is just one of many examples of the university education system being part of a larger brainwashing campaign. I'm with you when you do a rare ALL CAPS and say that that makes zero sense to me as well.