500 Million is enough but 10 Million isn't?

[mvaliz]

Right... It has nothing to do with where you live at all.

Exactly my point! Thank you for illustrating that! People can pick and choose where they live!

I know one guy who's drowning in debt... why? Because he insists on living in some posh gated community with stupidly high taxes and fees. He could easily move out to the suburbs not 5 minutes away and half EVERY one of his living expenses that way. And, before you say it, that neighborhood is perfectly fine - it isn't run down, crime ridden or anything like that. Nice 1-2 level standard homes in a middle-class area.

[Fahrenheit]

Sorry lol what?

140k a year?

I get £6k a year. Please don't talk about "barely making it", you have no fucking clue.

Where did I say we were "barely making it"? I said verbatim "My wife and I (combined) make slightly over 140k a year and we aren't exactly living the high life. Comfortable and able to bank a few thousand per month, but not exactly extravagance personified."

---------- Post added 2012-11-28 at 05:55 PM ----------

Exactly my point! Thank you for illustrating that! People can pick and choose where they live!

I know one guy who's drowning in debt... why? Because he insists on living in some posh gated community with stupidly high taxes and fees. He could easily move out to the suburbs not 5 minutes away and half EVERY one of his living expenses that way. And, before you say it, that neighborhood is perfectly fine - it isn't run down, crime ridden or anything like that. Nice 1-2 level standard homes in a middle-class area.

I don't think you realize just how expensive some areas of NJ can be.

[Sackman]

Even if you played twice per week, one ticket at a time (4$ / week), for 50 years...that is a little over $10k.

So, yes...for the ultra-frugal and math oriented folks, that is somewhat comforting. I just don't see any issue with playing for a small amount when those enormous, news-making jackpots come around.

For me? $20 / year for 50 years is $1k. Just a drop in the bucket for a little excitement over a lifetime, for a microscopically small chance at securing financial comfort for 10+ generations (if established smartly with conditions).



You'd be amazed what can be accomplished when you have ultra-deep pockets. I'm not sure about CC debt, but you can certainly take care of auto loans and mortgages. The point I wanted to make was doing all of this anonymously. I would do everything in my power to make sure NO ONE found out.

Not seeing any issue is exactly how they make money, exactly how free games make money in cash shops. It's a great way to make money.

I have never bought a lottery ticket. My parents always do. I have never felt any need to gamble, and I hate money. Provided I have enough to feed myself, cloth myself, and clean myself up, I'm good.

[mvaliz]

Welcome to NJ. Even a small condo in my area goes for 250k and has about 7k property taxes.

How are the condo prices three blocks away? four blocks? Seven?

I'm willing to bet not every condo in NJ costs 250k. Probably just your "area", which I'm betting is probably a nicer upper-class area. Unfortunately you can probably say "it's average" and we have no way of knowing if that's true or not... as your idea of what "Average" is might be considered a palace to normal people.

---------- Post added 2012-11-28 at 05:58 PM ----------

I don't think you realize just how expensive some areas of NJ can be.

I don't think you realize just how cost-effective some other areas of NJ can be. :P

Even California has very cost-effective expenses if you just open your eyes.

[Sackman]

Where did I say we were "barely making it"? I said verbatim "My wife and I (combined) make slightly over 140k a year and we aren't exactly living the high life. Comfortable and able to bank a few thousand per month, but not exactly extravagance personified."

---------- Post added 2012-11-28 at 05:55 PM ----------



I don't think you realize just how expensive some areas of NJ can be.

You responded to a person, responding to someone who stated 50-70k was barely making it. And you argued with that person. therefore, you were stating, times are hard for you.

Times are not hard for you, at all.

You remind me of a news article about a woman who said it was harsh that she didn't get child benefit when her household combined income was above £100k.

Makes me sick.

[Fahrenheit]

You responded to a person, responding to someone who stated 50-70k was barely making it. And you argued with that person. therefore, you were stating, times are hard for you.

Times are not hard for you, at all.

You remind me of a news article about a woman who said it was harsh that she didn't get child benefit when her household combined income was above £100k.

Makes me sick.

No. Read what I said. I said my wife and I are comfortable and able to bank a few K a month. At no point did I ever say times were tough or even insinuate that I thought so.

[Xargoth6634]

I assume you're talking about the Powerball (I live in NY State right now) which is up to $500M. I dunno, my rule of thumb is if it's high enough that I could buy a premium pro sports franchise with the winnings I'm all in. =) Seriously though, I occasionally buy a Mega Millions ticket on impulse even if it's "only" $15M or whatever, but once it's up at $200M+ I'll definitely buy a ticket. I prefer the Mega to Powerball just because Powerball is twice as expensive.

[mvaliz]

Welcome to NJ. Even a small condo in my area goes for 250k and has about 7k property taxes.

Wait... WTF? Dude... you're lying here.

OK, I'm paying just over 6k in property taxes... property taxes are based on home-estimate values. Mine is currently going at the rate of just over 120k.

...I don't think you're telling us the whole truth here... no 7k property taxed so-called "small condo" should go for 250k...

[Lord Kristivas]

A lot of people talk about the odds against winning, with math that makes it seem almost impossible. However, if you've ever rolled on an item in any game and come up 100, you know that despite how much of a bitch RNG can be, sometimes.. it might just land on you. I'm not saying you should run out and spend hundreds on tickets, but a couple of bucks? Sure, you'll most likely lose, but there's still a small chance you can take it home. The enormity of the effect that much money could have on a person's life, all at once (if you take the pay-out, which is about 360 mil - 270ish after taxes?) would be pretty staggering.

[Zoneseek]

Even if you played twice per week, one ticket at a time (4$ / week), for 50 years...that is a little over $10k.

So, yes...for the ultra-frugal and math oriented folks, that is somewhat comforting. I just don't see any issue with playing for a small amount when those enormous, news-making jackpots come around.

I don't see any issue with it either if you enjoy it, but I would take a guaranteed $10k over a one in millions chance at a huge amount of money any day. That and I don't really enjoy gambling, so the "fun" of buying lottery tickets is lost on me.

[Fahrenheit]

How are the condo prices three blocks away? four blocks? Seven?

I'm willing to bet not every condo in NJ costs 250k. Probably just your "area", which I'm betting is probably a nicer upper-class area. Unfortunately you can probably say "it's average" and we have no way of knowing if that's true or not... as your idea of what "Average" is might be considered a palace to normal people.

---------- Post added 2012-11-28 at 05:58 PM ----------



I don't think you realize just how cost-effective some other areas of NJ can be. :P

Even California has very cost-effective expenses if you just open your eyes.

http://ewingnjhomes.com/madison-ewing-nj/ is one of the cheapest I can find in my area.

Yeah, every one can cut corners and try and save a few bucks by moving to a slightly less desireable area in your area, I'm not saying I couldn't, but that doesn't change the fact the for a family in central NJ $100k-150k isn't exactly some lordly sum of income, you aren't even close to upper middle class.

---------- Post added 2012-11-28 at 06:06 PM ----------

Wait... WTF? Dude... you're lying here.

OK, I'm paying just over 6k in property taxes... property taxes are based on home-estimate values. Mine is currently going at the rate of just over 120k.

...I don't think you're telling us the whole truth here... no 7k property taxed so-called "small condo" should go for 250k...

Exactly. the one I posted is 225k and has 5,500 in taxes

[Skippy88]

I don't buy lottery tickets at all regardless of the amount. To me it's just a waste of money.

[Sackman]

No. Read what I said. I said my wife and I are comfortable and able to bank a few K a month. At no point did I ever say times were tough or even insinuate that I thought so.

Originally Posted by Porcell
Just making it? No wonder people want ever increasing wages if they think 50k per year is "just getting by."

Depends where you live.


Sorry, that is quite a clear insinuation. "Depends where you live".

What Porcell said is 100% true, no wonder everyone wants ever increasing wages. You insinuated that you or anyone getting 50k is "just getting by". You're a joke. Over here, If I said I was "just getting by" I would be fucking laughed at. I have access to 3 meals a day, warmth and sanitation. What I miss out on are luxuries - I have never been on holiday, got a passport but never left the country, don't have a car, and my joy is my computer and internet access. I have never had any money in my family and was advised to start work at an early age so never had the chance. I've been working for half my life and I have not long entered my twenties. You people have no idea. It makes me sick but at the same time, also makes me laugh.

[Balazaar]

Folks who only play when the jackpot is over $xxx because they don't want to buy tickets too often are doing it wrong ... here's why.

The odds of winning do not change with the jackpot amount so that is a non-factor.
For most people who play the lottery the Powerball minimum of $40 million would be an amazing jackpot.

Sooooo ... why wait for a huge jackpot? The publicity when you hit will make life more miserable than hitting a smaller jackpot. If you simply buy one ticket per month, regardless of jackpot size, you are not buying "too many" tickets ... you have the same chance of winning ... you'll be set for life ... and though you'll still have people hounding you for money it won't be as bad as hitting a $500 million jackpot.

Just buy a ticket occasionally if you want a small chance at the good life and stop worrying about giant jackpots.

[the0o]

Ouch, Did not mean to start a fight.

I Make 50k a year. I pay 2k a month for rent (we need the room) in maryland, i spent about 250 a month on gas and 500 - 600 a month on food, bills are 400 a month with surges every 3 months for medical and dental bring it as high as 650. I have 3 kids, 2 are special needs, 1 is home-schooled and my wife and mother in law is NEEDED at home for the time being.

A house that would fix my family's needs would be in the 300k+, One near my job would be 400k+, one near the hospital would be (no lie) 700k - 1 million (houses in bethesda maryland).


Dropping what i spent a month of WOW once a year for the chance to live a dream life is priceless. Gotta keep the dream alive somehow

[Draqson]

Never...
sooooo much money only breeds problems + win-chances are SO low...
its 10times more likely to get fatally hit by a coconut on your way to a lottery-ticket than to actually win with it...
but when I go outside with a bike helmet people call ME an idiot...

[Fahrenheit]

Originally Posted by Porcell
Just making it? No wonder people want ever increasing wages if they think 50k per year is "just getting by."

Depends where you live.


Sorry, that is quite a clear insinuation. "Depends where you live".

What Porcell said is 100% true, no wonder everyone wants ever increasing wages. You insinuated that you or anyone getting 50k is "just getting by". You're a joke. Over here, If I said I was "just getting by" I would be fucking laughed at. I have access to 3 meals a day, warmth and sanitation. What I miss out on are luxuries - I have never been on holiday, got a passport but never left the country, don't have a car, and my joy is my computer and internet access. I have never had any money in my family and was advised to start work at an early age so never had the chance. I've been working for half my life and I have not long entered my twenties. You people have no idea. It makes me sick but at the same time, also makes me laugh.

For a single guy, living by himself in central NJ, making 50k a year he would be making it by. But he'd only be able to put away a few hundred to maybe if he really skimped on everything else $1,200 a month. Thats combined between his saving account and his retirement fund.

[Auloria]

Edit, someone already made my point. :P

My money is still on the stock market though.

[a21fa7c67f26f6d49a20c2c51]

Then incoming "I just can't make it on $70k per year." Yeah, not when you are buying $300k houses...

The average sale price of a home in this city is nearly half a million. A 50 year old ~900 square foot house in the worst neighborhoods are ~$300,000 here.

Hell, even if you want to buy a 1970s trailer park mobile home you can end up paying somewhere between 200 and 250k. The attainable housing program puts you into a ~600-something square foot condo on the edge of town with $300/month fees, and a $220k mortgage (and property tax at ~5.7%). The city considers Market rent for a single male is pegged at $800/month + $200 for various fees (not bills, just condo association etc) which is roughly what a 25-year mortgage on a quarter million dollars will cost you each month.

It is possible to find houses for less than the average - but then you just trade mortgage expenses for other ones (additional heating and maintenance for houses made during Nixon's presidency, addtional transportation cost because public transit doesn't serve the poor neighborhoods as well as the wealthy ones, higher insurance premiums due to increase crime rates, etc). Realistically you're not avoiding ~$250k for a place to live at the low end (which is why the affordable housing places cost that much: it's pretty much the minimum you can spend without being worse off in some other way.)


I'm not going broke because housing prices are high - my income is high compared to the national average to compensate - the point is that picking a number like $50k/year and saying that is/or isn't a living wage depends on context. What works in some tiny town in Iowa doesn't necessarily work in central London. I have friends who get-buy on a ~$45k/year but you get the feeling they're moments from disaster. If they lost their job or got pregnant they'd be in for a world of hurt. If you were making closer to the median household income (~95k/year) then being without work for a couple of months isn't that scary: you've got more in the bank and you'll be paid out at a higher rate when unemployment insurance kicks in. Context matters.

[Radoria]

Look at what the odds are of winning. Doing this has saved me a lot of money. You have a better chance of being killed on the way to or from the store than you have of winning big. If you want to gamble on something, do it in a game that at least has SOME skill, like poker.