Rustynutt
09-03-2007, 01:43 AM
I hope a “personal economic” brief isn’t inappropriate here. I realize it’s a bit tactless. What would you expect from someone who calls themselves Rustynutt?
In reference to another topic, I think that Australia, as well as New Zealand will support the President, seeing how our currency is so closely matched. Instead of “Welcome to the Land Down Under”, it might go more like, “Welcome to Down Under”.
My girlfriend from Holland will be here Friday, she was utterly enthused with the idea of getting more dollars in exchange for her Euros. She is a clerk for the Dutch Department of Justice. With the current exchange rate, her income is equivalent to mine, a 25 year Federal Employee in Mechanical Engineering. Kind of puts a perspective on the economy here, from my point of view.
I’m on the 11th year of a 15-year term, fixed APR of 4.5% mortgage. I have a sizable no cost second of 75K at 7% fixed APR 20 year. The assessed value of my home would have to drop nearly 30% of current value to match the mortgage balances. 15K of that has went into my sons education, plus additional monthly out of pocket for his living expenses, 40K for a do everything work truck (and coffin), and 15K to fix up the fixer upper I’ve lived in for about 9 years (the terms don’t match because I refied to the 4.5% percent). I can completely cover the mortgage cash at retirement (the sacred G fund account), with some room to spare (hopping I fund account), pension aside. I owe on a relatively inexpensive RV trailer. No 50" plasma flat panel, pretty dreary home interiors (according to the girlfriend), and other than playing the I fund, no gambling habits to speak of J I do have to eat beans a few times a month however.
I’m still in a fairly sizeable tax bracket come years end, being single, and son turning 24 this year. I hope each year that another itemized deduction isn’t removed from the books, especially mortgage interest and personal/property tax.
Not complaining, life is actually pretty good, at the moment.
It’s just when I read about “bail outs” and “pumping currency” into a falling (failing?) market, I just don’t see how any of that will benefit my financial position, other than being out at the end of a great I fund day. I also don't see how I'm responsible for it. Maybe it's because I’ve been a Federal employee for such a long time, when small business was hurting, my income stayed the same, and when big business was booming, my income stayed the same (I'm a 7 year "topped out" GS 11/12). I look back at the TSP funds same time last year, and every fund, even with the current turmoil, is higher than it was a year ago (ok, last I looked). So if it drops back a year, my pay is still the same, debt still the same. Food, gas and utilities surely go up, but cost of living at years end almost makes that bearable.
I’m sure it easy to see I’m no investor, much less financier.
Population is less than 25 thousand where I’m at, remote and 100 miles from anywhere, even Death Valley. I come home, pet the cat (forgot to mention him in the intro, “Lars”), snack or cook dinner, fire up Bloomberg for background, check world news, wonder into the garage and play with my toys, and sometimes make it fishing a couple of times a month. Aside from work, the only other groups of people I’m around is when racing, and then the schedule keeps socializing limited.
I like Rum.
Basically, I guess this is just a feeler, as I have no clue as to what my bottom line is, if I’m in trouble, or if I’m doing fine. Most surveys I’ve seen put a median income at around 55K/yr. I’m over that, but can’t for the life of me figure out how so many I see are doing so well with statically less. I know what I see, and wonder if I have some sort of financial hole bleeding off into the world, or is it others that are bleeding themselves off, but their house is just currently stuck in the hole?
Ok, I gotta start cleaning and doing chores. Girlfriend will be here soon!
Thanks to everyone for last week’s advice. Sure was nice to roll sevens for a change.
Happy trading!
In reference to another topic, I think that Australia, as well as New Zealand will support the President, seeing how our currency is so closely matched. Instead of “Welcome to the Land Down Under”, it might go more like, “Welcome to Down Under”.
My girlfriend from Holland will be here Friday, she was utterly enthused with the idea of getting more dollars in exchange for her Euros. She is a clerk for the Dutch Department of Justice. With the current exchange rate, her income is equivalent to mine, a 25 year Federal Employee in Mechanical Engineering. Kind of puts a perspective on the economy here, from my point of view.
I’m on the 11th year of a 15-year term, fixed APR of 4.5% mortgage. I have a sizable no cost second of 75K at 7% fixed APR 20 year. The assessed value of my home would have to drop nearly 30% of current value to match the mortgage balances. 15K of that has went into my sons education, plus additional monthly out of pocket for his living expenses, 40K for a do everything work truck (and coffin), and 15K to fix up the fixer upper I’ve lived in for about 9 years (the terms don’t match because I refied to the 4.5% percent). I can completely cover the mortgage cash at retirement (the sacred G fund account), with some room to spare (hopping I fund account), pension aside. I owe on a relatively inexpensive RV trailer. No 50" plasma flat panel, pretty dreary home interiors (according to the girlfriend), and other than playing the I fund, no gambling habits to speak of J I do have to eat beans a few times a month however.
I’m still in a fairly sizeable tax bracket come years end, being single, and son turning 24 this year. I hope each year that another itemized deduction isn’t removed from the books, especially mortgage interest and personal/property tax.
Not complaining, life is actually pretty good, at the moment.
It’s just when I read about “bail outs” and “pumping currency” into a falling (failing?) market, I just don’t see how any of that will benefit my financial position, other than being out at the end of a great I fund day. I also don't see how I'm responsible for it. Maybe it's because I’ve been a Federal employee for such a long time, when small business was hurting, my income stayed the same, and when big business was booming, my income stayed the same (I'm a 7 year "topped out" GS 11/12). I look back at the TSP funds same time last year, and every fund, even with the current turmoil, is higher than it was a year ago (ok, last I looked). So if it drops back a year, my pay is still the same, debt still the same. Food, gas and utilities surely go up, but cost of living at years end almost makes that bearable.
I’m sure it easy to see I’m no investor, much less financier.
Population is less than 25 thousand where I’m at, remote and 100 miles from anywhere, even Death Valley. I come home, pet the cat (forgot to mention him in the intro, “Lars”), snack or cook dinner, fire up Bloomberg for background, check world news, wonder into the garage and play with my toys, and sometimes make it fishing a couple of times a month. Aside from work, the only other groups of people I’m around is when racing, and then the schedule keeps socializing limited.
I like Rum.
Basically, I guess this is just a feeler, as I have no clue as to what my bottom line is, if I’m in trouble, or if I’m doing fine. Most surveys I’ve seen put a median income at around 55K/yr. I’m over that, but can’t for the life of me figure out how so many I see are doing so well with statically less. I know what I see, and wonder if I have some sort of financial hole bleeding off into the world, or is it others that are bleeding themselves off, but their house is just currently stuck in the hole?
Ok, I gotta start cleaning and doing chores. Girlfriend will be here soon!
Thanks to everyone for last week’s advice. Sure was nice to roll sevens for a change.
Happy trading!