Bird Poo said:

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theeyetest said:

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Bird Poo said:

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If you live debt free (except for mortgage) and have a decent job, not a lot of crushing going on. I think it's hurting a lot of people that are leveraged out the rear.

Get debt free. Have savings for hard times. Invest during these opportunities.

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What would be your investment advice? We just got debt free except the house and we make $250k+/yr.

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I'm keeping my powder dry until there is a confirmed reversal. Not jumping back into stocks until October.

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trying to time the stock markets.

brilliant!

I'm doing OK but any sort of vacation is not even on the radar. The only thing I splurge on these days is Golf. It's alot easier to absorb if you are kidless like I am.

Inflation helps debtors and hurts lenders. It's no coincidence that the worlds largest debtor is also causing our record inflation.

Marcus Brutus said:

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Personally, I have turned my thermostat up a degree and turned my sprinkler zones down a bit. I had my highest ever electricity bill Last month. It was shockingly high.

Food is outrageously high too.

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Yep, I received my highest ever electric bill this past month. Was flabbergasted. I contribute it more to the ridiculous heat wave we've been experiencing this summer because I thankfully locked in my rate last fall. Out of curiosity, I went and looked after receiving my electric bill and noticed that electric rates are now twice what I'm paying. So, I too set my thermostat one degree higher for day and night time in an attempt to give the a/c, and my wallet, a breather. I will also be reducing the amount that I water the yard.

Luckily my wife and I have both received about 15% pay raises since last July, but we're still seeing the crunch in utility bills, food and gas. Plus, our first child was born in March which has added quite a bit of expenditures. We're doing fine so far, but interested to see what the future holds for us.

I was just recently able to get out of debt except for my truck payment. Home and land is paid for already. Thankfully I have a solid job and my GF does as well. While we are not getting ahead like I would want and are not able to save and invest like I was hoping now that I am debt free, there is still some cushion to save and invest a little. I worry about the hit my retirement is taking and not being able to invest towards that as much right now, but at least we are able to still do most of what we want to do with minimal cutbacks so far. It is slowing down the pace of our home remodeling significantly and causing us to cut back the initial plans due to rising costs and wanting to keep it out of pocket versus trying to get a loan to cover in one big bang.

My utility rate went up 200%. Food is up across the board.

I've taken increases at a minimum of 14% to above 50% for most subscriptions, bills, services, and insurance. Property tax up and maxed.

So total dollar amount increase in a month under Biden is over $500 per month in increased costs and I'm probably being conservative because I haven't fully tied this out to the penny yet.

Casually writing this off as no big deal is dumb. I suspect the OP's friends probably are just adding more to their CC balances and ignoring it. Because that's what 90% of Americans do.

My wife and I have both spent 30+ years of our life working, saving, improving, building wealth, achieving a higher standard of living, but always living a few steps below what is possible. Spending more than we should? Yes, but we have safety nets and plans in place in case one of us gets sick or loses our job.

So, no, we are not having to make drastic changes or currently at risk of being homeless. We are however, seeing years of savings from hard work being eroded, We are seeing recent raises disappear. Vacations being postponed, etc. and all because of unbelievable stupid political policies.

To be so flippant about people having to take on second jobs or come out of retirement and stop whining.... I do not even have words for how angry this makes me.

THIS times a eleventy-billion!

abileneag09 said:

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I buy around 2500 gallons of gas a year and my wife uses about half that. So on the conservative side let's say 3500 gallons. An extra 2.50 per gallon is another 8,750 out of pocket just in gas.

I'm in sales so as long as my customers stay active then my income should rise with the inflation rate. My wife is on a set salary so it's just a pay cut for her.

Factor in the rising costs of groceries, eating out, daycare, general consumer goods, etc and i think it's easy to say i have at least $15k less spending power than i did last year, and that's with no major purchases involved.

I'm hoping a republican shift in the house and senate can change some of this but i doubt it'll get things back the way they were under Trump. Just hope we can hang on until DeSantis '24 and maybe enough people will have learned from their mistakes of voting Democrat that we can get things moving the right direction again.

Not that Republicans are perfect, but they're a damn sight better than democrats.

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everyone seems to be leaving out the "Wealth/poverty effect" where most people's equity accounts have dropped by nearly 20%. so if you had a million in savings, you are down $200,000.

you think alot of those folks are living the same way they were a year ago?

now let's do all those who invested in Bitcoin at $55,000....

Almost everyone in America essentially taking a huge pay cut and we're supposed to be happy or indifferent about this? Libs are nuts.

We haven't really noticed much, but once our new electricity rate goes into effect in a month, then we'll start to feel some pain....at least it's towards the end of the summer and not the beginning.

We fixed the keg said:

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My wife and I have both spent 30+ years of our life working, saving, improving, building wealth, achieving a higher standard of living, but always living a few steps below what is possible. Spending more than we should? Yes, but we have safety nets and plans in place in case one of us gets sick or loses our job.

So, no, we are not having to make drastic changes or currently at risk of being homeless. We are however, seeing years of savings from hard work being eroded, We are seeing recent raises disappear. Vacations being postponed, etc. and all because of unbelievable stupid political policies.

To be so flippant about people having to take on second jobs or come out of retirement and stop whining.... I do not even have words for how angry this makes me.

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I'm with Brother Keg here...

it's insane to think that one American's experience in a country of 330 million humans spanning the largest land mass in the Western Hemisphere is representative.

how many tens of millions are on fixed income and having to spend 23% more on food and fuel and their COLA is only 9%...how many retired with a corporate 401K which has gone from $520,000 to $435,000 in the last year?

A national small business association found the overall outlook of small business owners is a at a historic low point.

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The National Federation of Independent Businesses, a Tennessee-based association of small business owners, said its Small Business Optimism Index fell to 89.5 last month, the sixth straight month of readings below the 48-year average of 98.

The outlook is increasingly dark for many small businesses, with the percentage of owners expecting better business conditions over the next six months falling to the lowest level recorded in the 48-year-old survey.

Expectations for better business conditions have deteriorated consecutively over the past six months.

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texsn95 said:

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We haven't really noticed much, but once our new electricity rate goes into effect in a month, then we'll start to feel some pain....at least it's towards the end of the summer and not the beginning.

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now get back to us in winter when heating oil/gas goes parabolic

again, Texans are mostly protected from much that is hitting the rest of the nation.

my gasoline prices are AT LEAST 12 dollars more every weekly fillup than yours are.

LMCane said:

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abileneag09 said:

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I buy around 2500 gallons of gas a year and my wife uses about half that. So on the conservative side let's say 3500 gallons. An extra 2.50 per gallon is another 8,750 out of pocket just in gas.

I'm in sales so as long as my customers stay active then my income should rise with the inflation rate. My wife is on a set salary so it's just a pay cut for her.

Factor in the rising costs of groceries, eating out, daycare, general consumer goods, etc and i think it's easy to say i have at least $15k less spending power than i did last year, and that's with no major purchases involved.

I'm hoping a republican shift in the house and senate can change some of this but i doubt it'll get things back the way they were under Trump. Just hope we can hang on until DeSantis '24 and maybe enough people will have learned from their mistakes of voting Democrat that we can get things moving the right direction again.

Not that Republicans are perfect, but they're a damn sight better than democrats.

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everyone seems to be leaving out the "Wealth/poverty effect" where most people's equity accounts have dropped by nearly 20%. so if you had a million in savings, you are down $200,000.

you think alot of those folks are living the same way they were a year ago?

now let's do all those who invested in Bitcoin at $55,000....

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Unless you are wealthy you're feeling this effect of bidens dumbass. We do pretty feel and haven't really had to change our daily lives but the digital loss effect is real. Money that I was planning to pull out of stocks to do home improvement projects has vanished. So instead of getting new floors and remodeling a bathroom, we just don't.

So while the net affect on my life isn't financial that's tens of thousands of dollars that aren't being pumped into the economy because, since January first, Brandon has made six figures of mine disappear like a fart in the wind.

It's reasons like the above that I no longer just dislike liberals, I hate them. They are an enemy to me and mine. They take money out of my pocket.

I told the grocery bagger yesterday that, despite my age, I must be getting stronger as I have never been able to carry $49 worth of groceries in one hand. She didn't get it.

crushed isnt the right turn, but definitely paying attention to our budget strongly.

Kid due next month, daycare starting in dec will be when the crushing starts.

itsyourboypookie said:

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Muy said:

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itsyourboypookie said:

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We've had record month, after record month, after record month in real estate.

Oilfield seems poised to do big things, Texas seems to be positioned to have job growth in all sectors, we can't hire anyone for less than $18 an hour.

If you haven't gotten a pay raise is that on you or the company? Could you go to work for a competitor for more money?

If you're laid off are you having trouble finding a job?

Reading posts I'd think most everyone is about to be homeless, but my day to day friends seem fine abd are still going on vacations.

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Is this one of those liberal "it's not happening because I'm not feeling it" posts?

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Everyone feels it, so we up our activity to make more money.

I simply can't believe a bunch of upper middle class college educated folks are being squeezed when my $800 a month tenant just picked up one extra shift a week and over came it, then got a pay raise for his effort.

My retired uncle linked up with a watermelon farmer and sells melons 5 days a week and is making $600 a day CASH, said he's got a wood splitter to sell firewood this winter.

If simpletons are doing slightly more to cover the extra cost, then surely the most educated among us can make 20% more in a crunch?

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Yeah...I asked TAMU-CC to give me a 20% raise.

I think they're still laughing...

Go sell watermelons is the new "two teas"

Bird Poo said:

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If you live debt free (except for mortgage) and have a decent job, not a lot of crushing going on. I think it's hurting a lot of people that are leveraged out the rear.

Get debt free. Have savings for hard times. Invest during these opportunities.

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Its hurting every working class family that has to buy gas to go to work and put food on the table. To think otherwise is delusional. Don't forget insurance renewals, utilities, school supplies - everything is up

We fixed the keg said:

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My wife and I have both spent 30+ years of our life working, saving, improving, building wealth, achieving a higher standard of living, but always living a few steps below what is possible. Spending more than we should? Yes, but we have safety nets and plans in place in case one of us gets sick or loses our job.

So, no, we are not having to make drastic changes or currently at risk of being homeless. We are however, seeing years of savings from hard work being eroded, We are seeing recent raises disappear. Vacations being postponed, etc. and all because of unbelievable stupid political policies.

To be so flippant about people having to take on second jobs or come out of retirement and stop whining.... I do not even have words for how angry this makes me.

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This literally could end in torches and pitchforks. OP is so flippant about it, that its astounding to me

itsyourboypookie said:

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Muy said:

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itsyourboypookie said:

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We've had record month, after record month, after record month in real estate.

Oilfield seems poised to do big things, Texas seems to be positioned to have job growth in all sectors, we can't hire anyone for less than $18 an hour.

If you haven't gotten a pay raise is that on you or the company? Could you go to work for a competitor for more money?

If you're laid off are you having trouble finding a job?

Reading posts I'd think most everyone is about to be homeless, but my day to day friends seem fine abd are still going on vacations.

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Is this one of those liberal "it's not happening because I'm not feeling it" posts?

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Everyone feels it, so we up our activity to make more money.

I simply can't believe a bunch of upper middle class college educated folks are being squeezed when my $800 a month tenant just picked up one extra shift a week and over came it, then got a pay raise for his effort.

My retired uncle linked up with a watermelon farmer and sells melons 5 days a week and is making $600 a day CASH, said he's got a wood splitter to sell firewood this winter.

If simpletons are doing slightly more to cover the extra cost, then surely the most educated among us can make 20% more in a crunch?

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What about the elderly on a fixed income who can't just run out and sell melons on the corner? They're done earning money. This is awful for those people.

You sound like you work in the Biden admin. "Just get an EV and the price of gas won't affect you." Awful.

Rent not keeping up with taxes and expenses have been eating me up for a while. Recent increases do give me some hope.

captkirk said:

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We fixed the keg said:

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My wife and I have both spent 30+ years of our life working, saving, improving, building wealth, achieving a higher standard of living, but always living a few steps below what is possible. Spending more than we should? Yes, but we have safety nets and plans in place in case one of us gets sick or loses our job.

So, no, we are not having to make drastic changes or currently at risk of being homeless. We are however, seeing years of savings from hard work being eroded, We are seeing recent raises disappear. Vacations being postponed, etc. and all because of unbelievable stupid political policies.

To be so flippant about people having to take on second jobs or come out of retirement and stop whining.... I do not even have words for how angry this makes me.

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This literally could end in torches and pitchforks. OP is so flippant about it, that its astounding to me

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Yes, years of patiently assembled gains being abolished. And the already retired on fixed incomes is just daunting. Always a bit nip and tuck---so where on earth is something like a 20% increase in expense supposed to come from?

We need luxury tax applicable only to policy makers and their reporters--- so they "feel it" and are less glib.

It certainly has my attention with grocery and electricity bills shooting through the roof.

We are still going on a couple of vacations this summer, but anybody being flippant about this is an idiot.

I've noticed the increases. But income increases has outpaced inflation.

I'm in a weird place where idiotic dem policies actually increase my revenue while simultaneously destroying our country.

So I vote Republican for my children's future and to stop the eventual collapse if dems stay in charge for very long.

I am making more in 2022 than I ever have...and my savings is major behind.


For every 1000 I lose I call A Democrat a slur in person!

You mean you savings is shrinking despite making more? Or your 401K

My actual takeaway is less.


Retirement, etc sucks though. Short term...in theory

itsyourboypookie said:

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Bird93 said:

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Equity in new construction is about to dry up. We've already been told by multiple of our long term lending partners they will not be participating in any new projects permitting beyond Q3. What we've been seeing over the last 4 to 6 months have just been signs and symptoms. The real hardships are coming.

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I'll loan on new construction if you swap to a build and rent model. Where are you building?

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I'll use your money to build some duplexes.