The COVID19 SCAMdemic... California Nears $8 Gallon Gas - Biden Sends Zelenskyyy $61 Billion

[jimlloyd40]

You just don’t get it, do you? I don’t dictate where my taxes are used, but I can still see what is in the horizon when we stop paying into SSA. I believe Treasury said SSA would be dead in less than 2yrs.

It was a pathetic ploy to garner votes from stupid people. I’ll be happy to pay it back starting in January to ensure the Boomers can finally fucking retire already.

Yeah I get it. I've read reports that it will be bankrupt sometime between 2 years from now and 2033.

 

[jimlloyd40]

Folks have had their Twitter accounts removed on first major infractions. The president’s account has survived for obvious reasons. I think Twitter wouldn’t ever remove his account. Ever.

I did not say remove. I said censored.

 

[Corprin]

Yeah I get it. I've read reports that it will be bankrupt sometime between 2 years from now and 2033.

And those projections were accelerated exponentially when our president stopped the money going into the pot.

I know I’ll never see a penny from Social Security. But at least you old folks who banked on it will see some.

 

[DarkArrow]

Yeah I noticed that and it means you'll be in debt your entire life.

No, actually it doesn't. Using your home loan payment example:

Let's take $1M home loan (I'm in CA, lol), with a 3% interest rate. You'll need to pay $4216.04/month to pay it off in 30 years.To pay off the house in 20 years instead of 30 years, you have to pay an additional $1329.94/month to save a total of $186,740.29 in interest over those 20 years.

If, instead you put $1329.94/month into an S&P500, and even conservatively say you get a 5% annualized return, you'll have invested $320,515.54 and received $224,907.59 in returns. So, by doing nothing other than not paying off the loan earlier and instead investing, you'll have an extra $38k by doing basically nothing.

But wait, after the 20 years, you have no debt and can put that to work in the market. Great observation! Let's look at it.
So, after those 20 years of extra payments, we're starting with nothing, but can now put in $4216.04/month for the next 10 years. After those 10 years, you would have invested $510,140.84 and received $150,179.35 in returns. Not looking good, we already had more returns from not paying any extra monthy. So, you end up with a fully paid off house and $660,320.19 after those 30 years.

If we continue putting in that $1329.94/month in the don't pay early scenario, after 30 years we have paid off the house, and our investment total was $480,108.34 and $614,458.60 in returns. You end up with a fully paid off house and $1,094,566.94. So, by not paying off the house early, you'll have an additional $434k to your name.


This is assuming a ridiculously low 5% annualized return and not factoring in writing off your mortgage on your taxes. But wtf do I know.

 

[Corprin]

Folks have had their Twitter accounts removed on first major infractions. The president’s account has survived for obvious reasons. I think Twitter wouldn’t ever remove his account. Ever.

Twitter’s TOS provides exemption for some classifications of people, heads of state is one. He’ll no longer be head of state, ergo gloves are off... especially his lap dog Cruz keeps poking the bear.

 

[jimlloyd40]

And those projections were accelerated exponentially when our president stopped the money going into the pot.

I know I’ll never see a penny from Social Security. But at least you old folks who banked on it will see some.

Yep pretty sad for the old people who counted on social security for a retirement plan. It was sold that way in the beginning.

 

[Corprin]

No, actually it doesn't. Using your home loan payment example:

Let's take $1M home loan (I'm in CA, lol), with a 3% interest rate. You'll need to pay $4216.04/month to pay it off in 30 years.To pay off the house in 20 years instead of 30 years, you have to pay an additional $1329.94/month to save a total of $186,740.29 in interest over those 20 years.

If, instead you put $1329.94/month into an S&P500, and even conservatively say you get a 5% annualized return, you'll have invested $320,515.54 and received $224,907.59 in returns. So, by doing nothing other than not paying off the loan earlier and instead investing, you'll have an extra $38k by doing basically nothing.

But wait, after the 20 years, you have no debt and can put that to work in the market. Great observation! Let's look at it.
So, after those 20 years of extra payments, we're starting with nothing, but can now put in $4216.04/month for the next 10 years. After those 10 years, you would have invested $510,140.84 and received $150,179.35 in returns. Not looking good, we already had more returns from not paying any extra monthy. So, you end up with a fully paid off house and $660,320.19 after those 30 years.

If we continue putting in that $1329.94/month in the don't pay early scenario, after 30 years we have paid off the house, and our investment total was $480,108.34 and $614,458.60 in returns. You end up with a fully paid off house and $1,094,566.94. So, by not paying off the house early, you'll have an additional $434k to your name.


This is assuming a ridiculously low 5% annualized return and not factoring in writing off your mortgage on your taxes. But wtf do I know.

So you’re saying pay off my house early? (Lloyd’s rule)

 

[Keehs360]

I did not say remove. I said censored.

Oh I know. Just drawing the “it isn’t fair” argument

 

[Corprin]

Yep pretty sad for the old people who counted on social security for a retirement plan. It was sold that way in the beginning.

Also for health coverage because you know, socialist things.

 

[jimlloyd40]

No, actually it doesn't. Using your home loan payment example:

Let's take $1M home loan (I'm in CA, lol), with a 3% interest rate. You'll need to pay $4216.04/month to pay it off in 30 years.To pay off the house in 20 years instead of 30 years, you have to pay an additional $1329.94/month to save a total of $186,740.29 in interest over those 20 years.

If, instead you put $1329.94/month into an S&P500, and even conservatively say you get a 5% annualized return, you'll have invested $320,515.54 and received $224,907.59 in returns. So, by doing nothing other than not paying off the loan earlier and instead investing, you'll have an extra $38k by doing basically nothing.

But wait, after the 20 years, you have no debt and can put that to work in the market. Great observation! Let's look at it.
So, after those 20 years of extra payments, we're starting with nothing, but can now put in $4216.04/month for the next 10 years. After those 10 years, you would have invested $510,140.84 and received $150,179.35 in returns. Not looking good, we already had more returns from not paying any extra monthy. So, you end up with a fully paid off house and $660,320.19 after those 30 years.

If we continue putting in that $1329.94/month in the don't pay early scenario, after 30 years we have paid off the house, and our investment total was $480,108.34 and $614,458.60 in returns. You end up with a fully paid off house and $1,094,566.94. So, by not paying off the house early, you'll have an additional $434k to your name.


This is assuming a ridiculously low 5% annualized return and not factoring in writing off your mortgage on your taxes. But wtf do I know.

Honestly I didn't bother reading that. I read enough to understand that you try to justify debt as an investment plan. Don't worry you'll find out later in life. Good luck.

 

[Keehs360]

Twitter’s TOS provides exemption for some classifications of people, heads of state is one. He’ll no longer be head of state, ergo gloves are off... especially his lap dog Cruz keeps poking the bear.

Man I dunno. I doubt he will have his account suspended. Corrected and censored sure.

 

[Corprin]

Man I dunno. I doubt he will have his account suspended. Corrected and censored sure.

If they keep him around, it’ll just be to troll his ass. Which, I would enjoy.

 

[jimlloyd40]

So you’re saying pay off my house early? (Lloyd’s rule)

Not my rule. Just smart.

 

[Keehs360]

If they keep him around, it’ll just be to troll his ass. Which, I would enjoy.

His words still have power. And over 70 million people will take it as gospel. Regardless of censorship. That worries me.

 

[brat_burner]

His words still have power. And over 70 million people will take it as gospel. Regardless of censorship. That worries me.

Just like Zricks words have gospel?