Make $120k and live paycheck to paycheck, brehs

[FruitOfTheVale]

The avg black household doesn't make 60k
But one person making 60k is abysmal

The coli

In SF/LA if you had a family of 4 on 60K you'd literally qualify for section 8

 

[Hacksaw Jim Thuggin]

Can someone explain to me why so many of us do not want to buy property? I could see if you are on the coast with skyrocketing home prices, but if you are in the midwest or the south it makes more sense to buy a home. It does not make sense to me that a person would pay another person $800 - $1000 a month for a place to live when in most cities you can put that on a mortgage and still have money to pay yourself and invest. Property investment is one of the oldest ways to build wealth. If my thought process is wrong please enlighten me.

great question....

flipping houses/property is a great way to make $...IF you can get out of it quickly...or find property in a depressed area thats about to be redeveloped ( gentrification)...

problem is most people stay in houses anywhere from 3-5 yrs before the want to upgrade....how much equity will a house have at that point?

invest in the market breh...learn about mutual funds if you're concerned about volatility

 

[Master Teacher]

Some of the craziest nonsense I have ever read on the internet.

It's only nonsense because you dumb as fukk
It's nonsense but you can't state why
you can't state what's false

anybody can google and see what I said is true
you a definition of ignorant and why you will never be rich

I learned this shyt from a seminar with Damon Fubu nikka

The fact you think its nonsense proves you have no idea how this country works

 

[Hacksaw Jim Thuggin]

:thinkfdup: How was your time in Singapore?

cool...im not into prostitution

and i was married at the time....

beautiful women....a lot of muslims there too....

 

[hayesc0]

Black men overall on average make 15 a hour
Black men with a degree make on average 25 a hour

Black men on the coli 50 a hour

 

[Mowgli]

Iove when racists get divorced and have their accounts and capital depleted by a greedy bytch

 

[Hacksaw Jim Thuggin]

The coli is a fictional land
No one is unemployed


No one is making under 90k

Everyone has a Audi BMW
A house or waterfront condo
A dime for a gf or wife

No debt at all

im technically unemployed....i run my own business...

plenty of debt...and im twice divorced....

i quit a job about a year ago where i was making $100k...to do my own thing...

its hard and its a struggle...but its MINE...i work for myself and answer to myself....what im doing is wide open especially where i live....i prefer to live life on my terms...

 

[benjamin]

im technically unemployed....i run my own business...

plenty of debt...and im twice divorced....

i quit a job about a year ago where i was making $100k...to do my own thing...

its hard and its a struggle...but its MINE...i work for myself and answer to myself....what im doing is wide open especially where i live....i prefer to live life on my terms...

my condolences breh.

 

[Hacksaw Jim Thuggin]

my condolences breh.

meh...thats life breh....

and it gives me the freedom to do what i want....

i have a lady and she supports my dream

the debt doesnt concern me...that will take care of itself

 

[hayesc0]

@Supreme Leader Reinscarf

Some of these nikkas don't live in the real world that's gotta put you in like the top 10% of earners on earth.

 

[Hacksaw Jim Thuggin]

my condolences breh.

seriously breh...i know we clown on here and everything

but if youre making $60k and thats all you want to do....max out your 401k match at your job....and invest the rest YOURSELF in the market....there are plenty of places that can help....

eventually you gonna want to retire...and you dont want to run out of money breh

 

[Doobie Doo]

Some of the craziest nonsense I have ever read on the internet.

Why is it crazy nonsense

 

[Antiquity]

The coli dot com

Let's say a person works for a firm and make $120,000 a year, claim's 0 on their taxes, and live in Massachusetts.

Let's say that before taxes and deductions, their monthly paycheck is $10,000.

In Massachusetts, they'll pay $2151 in Federal taxes, $620 in Fica, $145.00 for Medicare, and $471 in State taxes.

Their net pay has just been dropped $4000, and this is WITHOUT DEDUCTIONS.

Now let's factor in that HSA and 401K contribution for this Full Time firm employee.

Annual Premium Costs for Healthcare are $326 per month. Let's say they also contribute 6% to their 401K.

This person's salary has just been knocked down from $10,000 pre-tax pre-deduction to $3400 a month. This does not include rent, groceries, gas, or any other necessities.

My point stands.

 

[the bossman]

120K is more than enough to live comfortable and grow wealth

First off, don't let the your employer take taxes out of your check, pay your own taxes

have your job pay not you, but your LLC, just make an LLC, what your name is LLC, that' where your pay check goes

you work for your LLC and your job is paying your LLC for your time, so now you personal don't make any money, your LLC does

So know you can write off your mortgage, the money you spend on gas, lunch, etc

You shouldn't have a mortgage either, find a someone to seller finance you a house, or get a land contract, if you have a good job like that it won't be hard to find someone would do that for you

be a real nikka like me would just buy a trailer for 5 racks and save up enough to cash out a lot in an area I want to live, and just then just build a house for 20,000 that' worth 200,000 upon completion

now say thank you, you enslaved ass muthafukkaz

Which of these are you doing right now?

 

[Hacksaw Jim Thuggin]

@1thouwow

did you really neg me for that....

first CLOWN i never said that it took $100k to travel and see the world....

you cant even read with comprehension