Posted on 12/06/2012 9:04:34 AM PST by SeekAndFind
I imagine Dave Ramsey would advise this couple to pay off their student loans, DO NOT buy a house in New York, and when they are out of debt - leave New York.
I wonder - even if they took a $100,000 yearly loss in income to live somewhere else - if that could be made good by the lower taxes and lower costs of living.
A starter home in New York costing $500,000 could be had back home in Louisiana for $100,000.
They can't: she works in private equity, he in securities litigation. The chances of them both finding work in their fields in another city is small, and even if they did, it would likely be at lower salaries in another city with living costs that are almost as high as NY.
“My husband isn’t even putting money in his 401(k), so we can save more for a house. (I contribute to mine, but we have diverted all of our emergency fund to our house savings.) It’s something we argue about, but these are the choices we have to make.”
Well, all 401k plans allow you to borrow against your balance for down payment on a house. As long as you don’t take out more than half of the balance. You will have to pay it back with interest, but you’re essentially borrowing against yourself. No brainer.
This woman works in private equity and doesn’t know this fact? I don’t buy this story.
My wife and I are in the same fix but at the other end of the age spectrum.
We worked our asses off to provide for our children and today have parent-college debt (that won’t be forgiven by Obaumgabe) and retail debt accrued while the kids were growing up.
It was out choice and we work to pay it off. We despise the leeches that don’t pay and expect the Dhimmicrats to pay their debt for them.
I’m available if John “The Bawler” Boehner and “Harriet White” want to confab on the plight of the collective “responsible Americans”, I’m available.
First, they have student loan debt. That was optional. Now it’s not.
Then, they live in an expensive place. They could live in Kansas City or Denver for far less.
And they want the best schools for their children, trying to avoid the war zone public schools. That’s optional.
Their life is a series of choices. They want to make bad decisions and not have to pay for them.
Before you seek to ellicit public sympathy, please tell us for whom you voted for in 2008, and again in 2012.
I thought of that. See post 21. But I disagree that living in another city would be almost as high.
I think even if they took a hundred thousand dollar decrease in income - they might be better ahead in say Houston or Dallas.
IOW, they are "liberals". This is one of the cores of "liberalism".
Without going into the whole cost of living thing which is an illusion anyway.
If she lived down here she’d be hard pressed to get paid $100K or better out of college and $250K plus here will buy a lot of house. New college grads are dolts. She have the same problems here based on the COL adjustment of her making about 30% less at least.
I have been out of college for 30 years and just now make 6 figures after years in the biz.
Sorry, if you want sympathy, look it up in the dictionary. Or move. And I say that to anyone who cries the blues about that kind of salary.
But don’t get me wrong — these people should not be taxed more than anyone else.
And go where, to work in securities law and private equity?
There's basically one other option - San Francisco, which is worse.
Yes I’m disturbed at the responses to this thread. A very leftist jealousy towards a young couple who worked hard through school in majors that allowed them to get good paying jobs.
These jobs in large extent do reside in NYC.
The they got it coming, if you don’t like it move or they don’t know how to budjet are pretty much the same responses you’d see if this was posted in a leftist rag.
Indeed. Sour grapes.
I’m going to guess OBAMA VOTERS.
If they are from New Orleans, yes would be the answer
If they are from Jefferson Parish, most likely not. LA is finally a red state now and we plan to get the last socialist democrat out in 2014 - Mary Landrieu!!!
“Something is obviously broken”
Hmm, puzzler, bit of a puzzle (loosely quoting Jennifer Aniston there)...Maybe, JUST maybe, you could vote for someone who will NOT raise your taxes, and see how THAT goes?
Isn’t there some biblical verse that say’s something about sowing and reaping?
Fact! (It worked so well for Piers.) /s
Her complaint had nothing to do with working in securities law and private equity. It was the excessive tax burden and COL in New York.
Upthread I suggested they pay off their student debt and move south. Yes, they may take on lower paying jobs, but in the long run - they will make much more money and pay much less in taxes.
Meh. They certainly "can" . . . it's more like "they don't want to."
My read on their situation is that they're just bitching about reality. They don't "have" to live in Manhattan; they WANT to live in Manhattan. One does not go to law school, decide to get into securities legislation, and yearn for the corn fields of Iowa. One does not get a graduate degree in accounting, go into private equity, and dream of setting up shop in Biddeford, Maine.
They want to be the NYC power couple. They're just now realizing that to be the NYC power couple, they're going to have to pay some serious, big-time dues.
This is yet another example of a couple of young people getting smacked in the face by a little thing called "reality."
Freedom means the government not knowing your income or net worth. MYOB. Damn the progressives and the 16th Amendment!
He’s a financial lawyer, she works for an equities firm. Both have NYC on the resume’. Ok, so move to a place like Austin, Overland Park, Grand Rapids, or some such location.
Some local law firm will hire him. She goes down to the best of the local banks and gets in their program to become a branch manager. Combined maybe you little more than half of what you do in NYC.
Buy a nice house, with a nice yard.
Buy a cool car or pickup.
Park it for free in your driveway or garage.
With your new found privacy, have some fun and knock out a few kids the way you’re supposed to.
Join and be active in the local church of your faith.
Learn how to really make a steak.
Buy a telescope and look at the stars from your backyard. Buy a jaccuzzi and do the same thing, naked as a jaybird. Go to the lake on a summer afternoon.
Enjoy life.
Buy any size soda you wish.
Buy a pistol and a 22 for fun.
Find the boutique coffee shop in town and go tehre a lot with yor laptop.
Pay your 22 dollars and go to the local theater production hall that is in every town that size.
Watch TV and shake your head at the people in New York on the news shows, and Saturday night live.
Fly there any weekend you please on Southwest if you have some sort of odd Manhattan fetish.
And never EVER vote domocrat. They want to create NY paradise everywhere.
Duh. Move to Jersey.
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