And the house has a new roof, floors, HVAC and water heater.

OMG. Taxes are patriotic? Please, can you tell me why we broke from the British way back when? Certainly not because of your spirit or inclination…Privately employed people are sick of paying taxes that go to ungodly high public sector salaries. Yes, This Just In – Your taxes pay government employees, who work for only five years in some municipalities, then get health care for life. When a person retires after 10 years of service in the public sector, they receive a pretty nice retirement FOR LIFE. That is not available in the private sector. And you think paying for these guys to live off your work is patriotic? You are a sucker.

This is a very interesting post, as well as a lot of great comments…

If you can wait at least five years to move, you’re in a better position to be ahead of the game.

Chris, I completely agree with you.

And you take a second hit when you look at your mortgage statement to see exactly where your monthly payments are going. The way mortgages are structured, you pay much more interest in the first few years you own a house. Usually, it isn’t until you’re about five years into paying down your mortgage that you’ve made enough progress on the principal to make it a better deal than paying rent each month.

A little bit of math works here.

David’s Note: When you take out a mortgage, you are paying an interest rate on what you owe. So, in the first year, when the principal is highest, the interest you need to pay is also the highest. However, since the monthly payment is the same throughout the term of the loan (at least with a fixed rate mortgage), more of the payment will be used to cover the interest payments, meaning less is going towards the principal. As your principal goes down, your interest payments will go down, leaving more of your check to go towards the principal.

I am no pariah, but I do believe these tidbits of advice have helped me tremendously in life.

There is no such thing as a justly earned free-ride in this world.

Nick my husband and I are similar to you. My husband make near 200k and so do most of the people we know. There is a common stream in all their personalities. They are work-a-holics. They all have higher education, and continue their education. They never turned down work that was beneath them in young age. It it pretty funny to hear what some of them did as teens. There is not a single one that I know that had rich or even middle class parents. In fact most of their parents were dirt poor. I myself paid for college with my own money, earned from two sometimes three jobs, scholarships, online classes, going to school on and off as I could afford it. People are so quick to say it can’t be done because they don’t want to put in the effort. It is amazing how when you are finally, finally making a little money everyone wants their hand in your pocket.

When you came to the earth you came with nothing, when you leave you will leave with nothing.

It depends on how much you earn and how long.

Yes, I said most – there are always exceptions to every rule. Trouble is, the exceptions are outnumbered by the bozo’s and funding is done by the most votes…

The only crying I hear is you. Did someone beat you at halo from their basement?

If you can’t survive on $250k/yr, you have some “serious” issues.

Income taxes, and specifically the progressive tax system, is inherently unfair. Consumption based taxes like sales tax is inherently fair. I say do away with income taxes in favor of a national sales tax. Many states manage to do VERY well without an income tax at all.

I would not hire most politicians to mow my lawn.

Getsa,
The lower class do deserve better. I read all comments, and I really can not understand why any negative comments would be made. I am lower-middle class working my way through school. I am truly grateful for the programs, fafsa, wick, va, etc. that do allow for individuals to, “pull themselves up from their boot straps.” This is done by distribution of wealth. You ask why should the million and billion aires pay for you to go to school or have children or to feed those children. Well, I say because many of those individuals, not all, are greedy. For example, Sam Walton’s aires, all billion aires paying their employees little of nothing to run their stores so that they can buy a 100 million dollar yacht or pay millions to lobbyist for their special interest. This is why the government should step in and help those that are willing but struggling to improve their lives. Human nature is naturally selfish, that is the way we are born, if we are not raised to be compassionate and self less then we become greedy and selfish. Thus, if your born rich and raised selfish, will you do what is right? If not, why shouldn’t the government step in and say; hey, we have children that are hungry, and homeless that are dying on the streets in the freezing cold, and if your not going to help them we will take a little chunk of your billions to help them.