=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= = F.U.C.K. - Fucked Up College Kids - Born Jan. 24th, 1993 - F.U.C.K. = =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= Can Any of us Get Ahead in Our Lifetime --------------------------------------- The 1997 year has come to a close and once again it is time for me to figure out how much the taxman is going to take. I did pretty well this year clearing just over twenty-eight thousand after taxes (Federal, State, Social Security, and Medicare). My earned income came from two jobs and unemployment compensation. Imagine making forty thousand dollars but only being able to keep two thirds--that is the power of taxes. I wonder how many people actually try living off their gross instead of net income? Quite a few I'll bet. I don't have a budget or bother with trying to budget money. People who tend to have credit problems or spend beyond their means should worry about budgets. I tend to be what many would call a "tightwad" or "penny pincher." Course I don't like the name being tagged on me even if it is true. I guess it's from growing up the way I did-- always saving. My family always saved yet we never had any new cars. Even though we had the money my dad often didn't like seeing my mom buy new things he felt "we" didn't need. Back in 1987 my mom bought me a $150 walkman which my dad threw across the room in rage when he discovered the price. He couldn't relate to "buying the best" especially when one could settle for a $30 walkman instead. Course I should be thankful since my parents saving helped pay for 85% of my college education (which was at a public, in state, university). This brings us to the question of what the hell did I do with the remaining money the government let me keep? Well, in 1997 I invested 17.5k of the money into stocks and mutual funds. I lived off the other 10k plus a couple thousand in interest from savings and cashing bonds. Living at home for the first couple of years during my career allowed me to save most of my paycheck, which I then invested into stocks and mutual funds. No kids, wife, or student loans also helped. I estimate, given an average market I may be able to reach my one hundred grand goal by the turn of the century. Then, with the power of compounding, the money will double every seven to ten years. With any luck I'll have a million dollars by the time I'm sixty. However, it is very important not to get too carried away with money and investing such that you aren't enjoying what you make in the present. Of course it seem that not many people have to worry about this. I invest so I can afford that house, car, motorcycle, etc. down the road. I also invest to have a security blanket. Working long hours or doing something I despise is a trap I want to avoid. Having some savings allows me to not have to take anyone else's shit. The bottom line is to not fall into the "slave" trap where you HAVE to work and are living paycheck to paycheck. Some people only save money through their employer's pension plan. This is a great tax free way to save--especially if the employer matches contributions. It is also a good way to keep employees around a long time (nothing wrong with that unless the employee hates their job). Unfortunately, people rely on these pension and social security payments too much rather then attempting to build their own investment program and safety net. I make a decent wage compared to the US average. When I hear about people making 20-30k before taxes and have a 100k home I wonder how they are surviving? Paycheck to paycheck? A thirty-year mortgage means you will probably be paying 250-300k for a 100k house! Run the numbers and find out for yourself. Rent, insurance, car maintenance, food, and the bare necessities cost me 12k a year and I'm a "tightwad." Throw in a house, wife and kids and I'd probably be living paycheck to paycheck. Think about it for a moment. Are you controlling money or is it controlling you? If you lost your job and were out of work for a month would you survive? Life isn't always hard roads or happy times. It's a mixed blessing of the two. I believe it is important to enjoy the hear and now but I also believe one can overdo a good thing. Invest a good 10-25% of your earned income, keep a two or three-month survival fund (savings) and enjoy the rest while you are able to. EPILOGUE I wrote the above in early 1998. Now, ten months later, and looking at today's depressed stock market I'm staring to wonder if I'm kidding myself about "getting ahead." I realize, and you should to, the stock market is a long-term investment. However, I can't help theorizing about conspiracies of getting people to invest their hard- earned money into what may turn out into a bottomless pit where only the rich reap the benefits. Could it be someone's sick idea of giving the working man a false hope for a better tomorrow? Promising early retirement and more money then they can spend in their time left--the good life we all seek. Perhaps the market is a false prophet or maybe it is another way for the rich to siphon funds from the middle and working class. Hell, I don't know where I get these crazy ideas from but I do know that I will continue to invest. However, from now on I'm going be a little more cautious especially when it comes to high tech stocks. Still in the ballgame and playing to win, Pallbearer =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= = Questions, Comments, Bitches, Ideas, Rants, Death Threats, Submissions = = Mail: jericho@dimensional.com (Mail is welcomed) = =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= = To receive new issues through mail, mail majordomo@attrition.org with = = "subscribe fuck". 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