Quote: (09-12-2011 09:07 PM)Dash Global Wrote:
Quote: (09-12-2011 08:26 PM)Vacancier Permanent Wrote:
Unfortunately, when someone passes away, the debt becomes a liability/responsbility/obligation of the remainant family members. Those mofos of financial institutions are a lot smarter nowadays than in the past. A few years ago, I knew a guy in college who got as much credit as he could his hand on, credit card, line of credit, store cards, anything credit, you name it. The guy maxed them all out, took out massive cash advances on his credit cards/lines of credit, then left to Australia, where he met a girl he married. Now, he has Aussie citizenship and he completely played the system at their own little game. Good for him I say.
The # 1 factor in making or breaking you when it comes to retiring and living the lifestyle you want is debt. Stay away from that life sucker as soon as possible. If you have any debt, swallow your pride, pay that sucker off and become debt free asap. Only once you're debt free that you're truly free to roam the world and do whatever you want where you may fancy. My debts were getting out of hand so that's why I came back to take care of that sucker and by next spring, I should be free for good.
Some good advice VP, but something else that is just as important as debt is living withing your means aka being able to save $1000-$500 (roughly 40-50% of your paycheck) dollars a month. This is pretty much doable on any salary. To give you an example, a fresh out of college teacher in NC can make about 2k a month. Live in a modest small apartment for (500-600$ month) cable/internet (100$) utilities (70$) then just dont go crazy spending money during the month and you should be able to save $1000 - $500 a month letting you take international trips during the 3 months of the year you have off. Not to mention if you want to go somewhere stateside on the weekend or something. The prices are cut in half if you have a roommate.
That math is pretty sketchy.
Taxes?
Car?
Gas?
Food?
Alcohol?
Drugs?
Clothes?
Shoes?
Gym Membership?
Insurance?
Cell phone?
Texting?
Emergency?
Legal Fees?
(and where the hell do you find modest small apartment for (500-600$ month? The ghetto of Mogadishu?)