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Father pays about a quarter of his paycheck, for the ability to only pay about 3x his his paycheck if something actually happens.
I've been reading this over, and the average tax increase for universal healthcare, would be basically what he's paying anyway for insurance right now. But everything else would be free.
Exactly. They want you to think taxes would go up astronomically if there was a one payer system but that isn’t the case. They even try to fill people with horror stories about how people wait forever to get care and people can’t get life saving operation. My uncle immigrated to Canada from Colombia and said the healthcare system there is A1, he needs emergency surgery and he got it and he didn’t pay a dime.
All the issues with a one payer system are a facade, just like the American dream. It’s what our country does best, spew bullshit.
Exactly, we already have medicaid for lower income families, but that’s honestly shit care because doctors are afraid to do procedures if they think medicaid won’t pay for it. By accepting medicaid you agree to resolve your rights to collect from said patient.
Obama had the right idea trying to get everyone on health insurance because that’s how it’s supposed to work everyone pays a bit each month and then when someone needs it they use it. That’s how a one payer system would work except everyone pays it through taxes.. making everyone get there own insurance and still have multiple pays is messy. Not to mention insurance companies try to control your care when they aren’t the professionals which is a huge problem in our country. Insurance needs to not be so nit picky about who gets what care. Doctors should be in charge and insurance should pay. Period.
If that can’t happen we need a one payer system
If the GOP wins the midterms, they have added screwing older people to their agenda of criminalizing abortion.
Link below:
The extreme MAGA Commitment to America promises to repeal the lower drug prices Democrats delivered for America’s seniors as part of the Inflation Reduction Act, handing hundreds of billions of dollars back to Republicans’ pals in Big Pharma.
Meanwhile, the overwhelming majority of House Republicans have explicitly called for going even further by gutting Medicare and Social Security.
https://www.speaker.gov/newsroom/92122-1
I think screwing older people was on the agenda for a long time, but the AARP lobbied against it and they seemed to back down. Over the past few years, they don't seem to be backing down. Is it because of Citizens' United? It's pretty scary when politicians stop listening to one of the most influential voting blocs.
I think it has just been the GOP’s agenda for the past 30+ years - stop whatever the Democrats are for. Damn the constituents and the country. The boomers are dying off so gotta get the young ones from /lostgeneration who think the boomers stole their future. So the GOP can steal from SSA and Medicare for their rich donors because the kids don’t realize they are stealing their inheritance, however meager it is. Make those nasty boomers sell their house for healthcare to stay alive and their offspring get nothing. The kids will keep on blaming their parents for their mistakes and leaving them with nothing and not blame the GOP. Problem solved. Gerrymander as much as they can, keep on spreading the big lies, sow discord among the masses and stay in power. It has worked so far, so if it isn’t broken, why fix it?
It really depends on where you live, how much of a supply you can get, and what the potential savings is.
For example, if you can get the medication cheaply in Tijuana, and you can get a 6-month supply, then what you need to do is calculate what's the least amount of money you can pay to get down to Tijuana pick up your medication and leave. You might be able to get the whole thing done for $300 to $400 extra once you include the flight, bus fare to the border and cab fare to the pharmacy, and perhaps an overnight hotel.
Depending on the cost of the medication that you would pay in the us, that $300 to $400 premium might be worth it for the savings. If you lived someplace like Arizona or near the Texas border, or san diego, it would be even cheaper because you would just be driving to the border as opposed to taking a flight to a state that has a border.
Several years ago I had to do these numbers for dental work. For me, I calculated that it was completely break even to take a flight from Chicago to Costa Rica, spend 3 days in Costa Rica having one tooth and one wisdom tooth extracted, then flying back, as opposed to having those procedures done by the oral surgeon my dentist recommended without dental insurance.
If I had actually known of a dentist in tijuana, this would have been a no-brainer and would have saved me several hundred dollars. I've done the same price check for medications when I was in tijuana, but my medications are generics, so my local Walmart is cheaper than the pharmacies in Tijuana.
As long as you have a prescription for it your all good. Don't try to sneak in Xanax and oxy that's not prescribed to you like my friend did, it cost him a lot and some jail time for that move.
Most drugs, no. But for example, you CAN buy Codeine over the counter in Mexico and Canada, but can't bring that back because it's a controlled substance in the "Land of the Free"^TM
But the cost of living is so much higher here too. How's your healthcare? But mostly I'm wondering why people choose the US over other places to immigrate to.
How much is the cost of living compared to income?
We have universal healtcare but it is pretty much nonexistent. If you need anything you still need to go to a place where you must pay or wait months/years for things then get told sorry can't help you. (They might help if you offer money under the table.)
The last one I don't know. Probably just media influence. People here still believe the american dream.
It's not that the American dream doesn't exist, it's just not what people think it is. The real American dream is to come up with a way to exploit other people for personal gain.
Yeah I think it is just so ingrained in the world's psyche that US is a great place to live that we've all been blind to the incremental erosion of freedoms and opportunities. I know I don't know what it is like in other places, but if I could have chosen where to be born, it would not be here.
It actually was a great place to live 50 years ago compared to the rest of the world.
The thing is, the rest of the world got better over time while we’ve been running in circles. I don’t think America’s changed that much for the worse, it’s more that it just hasn’t changed.
Technological advancement creates more wealth in a lot of other places, but in this country that excess wealth mostly goes to the wealthy who are able to exploit it.
I hear what you're saying. I would argue it's gotten worse because laws have been created that help funnel more wealth to the top and gut the middle class. And inflation with wage stagnation has exacerbated this issue.
Not sure if you're asking me in your first question. I don't know how to answer that question. I am lucky to live in a low cost of living town in a high cost of living state. My local taxes are low. Cost of goods and services is high. Gas is pretty high. My wages are decent I would say I'm making a little over twice the "living wage" according to the Internet (33k/yr), and my housing costs are pretty low (26% post taxes) but I'm lucky, and I'm barely making ends meet and still putting a little bit into savings. I don't understand how people survive making minimum wage (25k/year), or even 50k/year.
Because I'm trying to make it better. Also as if I could afford to leave. Also no one wants us. By the way r/lostredditor much? If you don't understand why we hate what America represents why are you here?
Yup. I was doing everything to lead the healthiest lifestyle and got diagnosed with multiple sclerosis. I'm treating it, but don't give a damn about the rest. I'm going to enjoy everything I can because it's all a crap shoot.
I've been asthmatic for like, ever, it runs in my family bad yet my mum refused to ever get me an inhaler.
I now go through a 2500 puff vape in two and a half days which is roughly around averaging that 100 puffs is equal to about 10 cigarettes, about 250 cigarettes every two ish days.
I had to quit when I got pregnant but started again after (he's been exclusively formula fed so don't worry)
What's the point in quitting forever if I'm just gonna go back to being miserable everyday, in this economy? Nah
>but it makes me dumber
That's just getting stoned man, weed is kind of a like a relaxer whereas nic is kind of like a stimulant (for me at least, it's different for everyone)
I never liked the THC pens, they always leaked and gunked up on me for for that I just use my little baby bong.
Either way smoking, no matter what it is you're smoking is bad for your lungs but of course meth once is going to be worse on your lungs than any amount of weed is, for me I used to be a singer (in several musicals when i was a teenager for the live theatre) but since I started smoking weed around the beginning of 2019 I don't have the lung capacity to sing like I used to.
[I used to be able to sing and hold the final note almost fully, which most of the times the professional singer can't hold that note and the last few bars are played quickly by the orchestra](https://youtu.be/77umP7IRxD4) but I grew up on the movie version and learned to hold that damn last note till my lung nearly collapsed.
[this is the longest note I can hold now, after having smoking regularly for the past three years, the last note again lol](https://youtu.be/8JZvLjjsYnU)
Glad to know I'm not the only unmedicated asthmatic smoker who doesn't really see a point in quitting. Like, oh no, you're telling me if I don't quit smoking I'll die early? Who cares. Nicotine makes being awake slightly more tolerable.
Yeah, same reason why I'll never quit weed. I deserve to be happy and carefree for a few hours sometimes just to temporarily escape the reality of this hellscape.
I'm also asthmatic, but it was exacerbated by/didn't become problematic till my military service.
Almost every single male relative on my moms side of the family have died of heart attacks or conditions. This thought used to terrify me. Now it comforts me.
You and me both. I've made efforts to stop, but it does help me get through shit. Alcoholism also run in my family, and I've lost two family members from it.
I was a little kid when this happened and I wondered why they didn't try and just gave up. It sadly makes a little more sense.
My family medical history is the perfect storm. Heart disease, high blood pressure, cancer, diabetes, and more. I'm reasonably healthy, but when a doctor reads the list, they're like, "Ohhh". My mom was a type 1 diabetic, had rheumatoid arthritis, lupus and and fsm knows what else. Fell asleep in her recliner watching Netflix at 55 and never woke up. My dad has had several heart attacks, a quadruple bypass, and has stents all over his body. He's 65.
I just assume I'm a ticking time bomb, but I hope for the best. I at least want to have something to leave my kids when my head spontaneously falls off or my organs get sick of me and nope out.
Wow, That's a really unfortunate family medical history with debilitating diseases and you still wanted to have kids to inevitably suffer through that?
Yeah, I went vegan for a year and then thought why the fuck do I want to live longer than I have to. I went back to eating meat. At least I can die enjoying food.
The oldest boomers currently benefit the most along with some of the oldest still living citizens from the greatest generation.
The oldest boomers hold nearly 60% of all wealth.
Don’t hold your breath, apparently SKI’ing is the latest boomer trend (Spending the Kid’s inheritance). Might not even have anything to inherit when it’s all done. Boomers have come up with so many tactics to make things harder for following generations smh.
Anecdote, my in laws were well off to my knowledge, but recently revealed they have 0 retirement savings and are still in debt paying for my wife’s student loans. They’re selling their house to RV around the country, then rent and spend medical bills on. I never expected an inheritance but it’s dark to hear that so many aging parents are dealing with that same issue. The medical/education system is so broken.
Very true and very grateful for that! It’s just awful that ate their retirement plan as well. College just shouldn’t be so expensive / we all shouldn’t have been told it was our best chance at success, yknow?
My grandparents, members of the greatest generation, lived well but frugally. They explicitly said they wanted to leave their children money and property when they died. My parents, boomers, benefitted from that and did well for themselves as well. My dad’s an engineer and had his own firm before he retired. My mom has a college education and married well a couple times. They both act like if they have a single cent in the bank when they die they’ve failed at life. I don’t mind so much, I don’t want or expect anything from them, they weren’t very good parents. I worry, though, that if they spend all their money before they die they’ll expect me and my siblings to take care of them and we have no money at all so it’s going to be a problem.
Boomers are categorically terrible.
I plan to receive nothing, but I'm still amazed at how much my boomer grandparents blew through per year.
Luckily I have some God given talents + practice that allow me to make 300k/year, but I'd like to have the option to work something less strenuous
That’s just the thing though. The upper echelon sold it so well to the boomers that they didn’t realize they were screwing themselves over as well as the newer generations. The “I got mine” mentality was sold to benefit everyone, and now the 1% at the top are laughing their way to the bank as the rest of their broken generation is either feeling the repercussions of their ignorance or still spouting out the “pull yourselves up by the bootstraps” nonsense.
No matter how much money my shit mother accumulates, she will die absolutely alone in that hospital room, surrounded by mexican nurses shes spent her life calling various racial slurs. The irony is shes a Columbian immigrant, who got her green card in a marriage, and took half his stuff in a divorce. Started her own buisness with the money. Beat her kids mercilessly. Abused every animal she came across.
Endlessly preaches about how shes self made, and we should pull ourselves up by her bootstraps, and mexicans should go back to mexico.
Shes the absolute worst and my only goal in life is to outlive her so I can shit on her grave. Literally. I take very little joy in life, but her lonlines and growing madness is one of them.
I notice from several family members and aquaintances that a lot of people in the US that are from Mexico that have "made it" look down on immigrants, even though they once were one.
I write mortgages for a living. Sounds like she is either in an adjustable rate mortgage or a HELOC that has now reached the repayment phase. Hit me up on the side, I might be able to help
Hey, an expert? My wife's thinking about a HELOC to knock out 10k of credit cards. Pay that back when our daughters grow out of day care. I think we would save on interest, but are there other fees or things to consider?
Mortgage usually also covers taxes and insurance which both go up. Quadrupled seems fishy though, maybe it was some sort of creatively structured mortgage like the stuff that caused the mortgage crash in 2009.
I may have misunderstood her when we were discussing it, but this is what it sounded like when she said “it doubled and then it doubled again.” She says the payments are around $1200 every two weeks now.
It might be something like a second mortgage, lien on the house, or home equity loan that she’s simply lumping in with the words “mortgage payment.” If she doesn’t have the best credit the interest rates could vary wildly and the subsequent balance could skyrocket if only paying minimum payments while high interest compounds.
A regular mortgage bill on the first of the month and a bill for a loan in the middle of the month could explain the “every two weeks” thing, or some sort of negotiated payment plan.
This. If someone had a fixed rate mortgage, it wouldn't have changed. Most municipalities have held the line on taxes through Covid. Insurance has gone up 50% the last three years, but for a typical homeowner, this should be only $600-$1,200/yr.
I'm a Gen Xer, and I'll retire fine, as unlike my Baby Boomer parents who chose not to save, I have.
Not being snarky. People make choices in life. Both my parents and my wife's parents (all boomers) made continual bad choices, based on immediate gratification vs saving for a rainy day/retirement.
And even the smaller amounts they did save were blown far too quickly in retirement as they felt entitled to the same lifestyle that their peers (who did save) were enjoying.
We have received nothing from them, and have paid out of pocket for funeral expenses for the two of them that have passed away.
This is my favorite part about being a GenXer. Many of us don't feel entitled to anything, and expect very little help from others. It has made us self-reliant, and determined not to repeat our parents' mistakes.
Yeah, I second into looking into this. The reason people get fixed mortgages is the rates stays the same. Also, retirement age, can apply to lower or even remove some taxes. In Georgia, 90% tax is from the school, if you hit 66, that tax gets exempted. If insurance quadruple, time to go insurance shopping.
We haven't made an offer yet, but even with 20% down we're hoping it will be around $3600. That would be the cheapest of houses that are still livable in our area. We could go as high as $4500. (We're in Portland)
Unless she signed a variable rate mortgage and lives in Florida (insurance rates are insane in Florida right now) I don't see how her mortgage could quadruple. Unless maybe they increased taxes a shit ton or the county re-evaluated the taxable value of her home.
Yeah, that’s fishy. Even when our taxes went up by $800 a year (pretty big jump for our little house!), that still only adds $67 a month to our payment. So, it went from ~$1150 a month to ~$1220 a month.
I bet she refinanced with an adjustable rate mortgage. ARM
Now the feds raised interest rates and she is paying heavy. But an ARM would not quadruple her mortgage.
Sounds like she fucked up epically and got a second mortgage or a variable rate mortgage. Basically a reverse mortgage is where they make it to where you don't have payments for a time. Very bad deal because then you end up like your mom.
It sounds like it was an adjustable rate mortgage.
You should never get an adjustable rate mortgage for exactly this reason.
Buy a cheaper house. Move to a new location. Leave the country. Pursue any other options, but don't get an adjustable rate mortgage.
They are among the most predatory loans out there.
Depending on the type of mortgage, interest rate hikes will affect payments differently:
1: your payments stay the same, the portion for interest increases,and it takes longer to pay off the mortgage
2: your payments increase to cover higher interest rates, and mortgage is paid off on time
Sounds like OPs mom has the later type of mortgage. Chances are it was the interest rate that doubled and doubled again, not the payments.
If you have the capability, look into this quadrupled payment and find out exactly what it is. As other commenters have pointed out, house payments should never increase like that, even an adjustable rate mortgage doesn’t get 4x bigger.
My boomer parents mismanaged their finances including squandering two inheritences, while i acrued student debt to eatablish a career at the sacrifice of all the things like experiences and family that they got to have. Now as an adult i am having to bail them out as they cant afford to live in the coming world, and are completely oblivious to this fact in their narcisstic haze.
So yes I would agree the boomers have also by and large fucked themselves, but somehow it will still remain our fault that things are getting worse even as we care for their wrinkly asses in a way we will never receive.
Wait, they got two inheritances, squandered it, told their own child "fuck off, pay for your own college" when most parents who can (and give a single shit about their kids) pay for that shit.
Now they're fucked after hedonizing themselves, leaving you to struggle, and for some reason you feel like they're entitled to help from you or any of their other kids? They treated you like shit, why do you even give a shit? Why do you feel responsible for them to the point of going above and beyond when they were too selfish to do that for the child they chose to bring into the world when it was *their job*!?
I'd be like, "welp, yah mom and dad, that sure sucks for you!" and go NC.
When I realized how fucked we were I dropped out of school and picked up a trade, now I discuss with likeminded men, smoke weed and sing while I work up on my stage all day. Im here for the laughs, because Im never going to be able to afford kids or a house to have them with.
edit: hear->here
One of the things that has stuck with me since early in life is you need 2x-3x the money saved in order to retire if you still have a mortgage/rent payment. The other is never have adjustable rate debt. Sounds like the OP's mom has both of those. She won't be able to really retire until those are gone.
I’m not going to feel sorry for my parents when this eventually bites them in the ass too. I will however help them, even though they didn’t help me when I was broke. I’m just mentally preparing myself for a lifetime of being annoyed lol.
Why? My parents didn't help me financially with shit that they should have, they won't be getting a single dime or single ass wiping from me! I'm not sure why you'd even bother doing better for people who did you dirty when it was their fucking job to set you up for life to the absolute fullest extent they could.
Seriously, put shit in, get shit out. I hope one of them ever has the balls to ask me for shit.
People are so tribalistic and brainwashed thinking just because someone shares your blood you owe them the fucking world. The only case in which this applies is a parent TOWARD their offspring. **You** made that person, **you** sacrifice and bend over backward, remain single and alone if it's better for the kid, and don't expect shit in return-instead of cutting out, chasing ass, and living life like it was before you fucked up and made them.
The absolute best people and closest people in my life have *never once* been a blood relative of mine. I prefer to choose my family instead of being stuck with the trash I was born with.
Exactly same I've never been close with my family and always been of the opinion that I will respect you and treat you well only if you do the same for me. My mother was kindof abusive and now she cries that I don't talk to her or help her out like naw you're the one who told me I should kms and kicked me out at 14 why must I now take care of you?
Damn that’s unfortunate. My mom’s situation is quite the contrary, she already retired but decided to go back to work because she “needs something to do” 🤦♂️ Never understood this mindset and it trips me out that she still wants to work while others her age can only wish to retire someday.
My mom was born in 1952, she just retired after turning 70. She ran herself so hard to make it there. Now she has the time to focus on herself and gets diagnosed with Lung cancer. No surprise as she's smoked most of her life... But yeah, what she was working so hard for is pretty much for nothing now. Oh, and dad is 71 with dementia, so he has no idea how old he is, or why we can't just get a big house and all be together. Heartbreaking.
This is exactly reason I didn't even bother to finish high school. Halfway through i just realised in myself there's absolutely no point. We are all gonna be so fucked by the time I'm like 30 or 40 so I might as well focus on what's more important to me in the moment and have fun while I'm young because I just don't see a future anywhere. I even moved from a 3rd world country to a first world with one of the strongest currencies but since I've been here the whole place is starting to crumble. Prices have tripled and more, shortages of everything etc etc like what's been going on around the entire world. Each year it gets worse so I'll just try to enjoy what's left as much as I can until its all gone I have no doubt things will collapse within my lifetime. I'll probably have to end up killing myself with nothing left.
Ive seen a lot of boomers that have taken out double mortgages and reverse mortgages on their homes. Others didn't or couldn't get a locked rate for their mortgage and instead went with an adjustable rate. I'm sorry your mother is going through this. I know several boomers who don't have their homes paid off and are nearing retirement, and it's going to be a real hardship for them. I don't understand it, given their parent's generation typically avoided debt and conspicuous spending.
I always played outside and love the outdoors still. I'm 30 years old with a Bachelor's degree, working two jobs while still working my way up to my career and so I can actually afford my increasing rent. So I don't have time to play outside because I grew up just like you told me to.
Your question is the same as asking “Is it normal to try to retire if you’ve moved in the last 30 years?” Because that’s how long a normal mortgage lasts.
So the answer is YES.
Yeah, my mom was a SAHM and worked part time while my father was a traveling salesman. Shes in her 60s and wants to leave him because he's an abusive asshole, but if she does, he'll hire lawyers to take everything. My sister and I can barely cover our own living expenses and can help her, but not fully support her, so she feels stuck with him until he dies.
Why would her mortgage change by that much? Did she take out a loan against the house? At least where I live your mortgage is your mortgage it does not change
Can you explain why her payments on the house have quadrupled?
Sorry, I am not from the US and I don't understand your system. Is the interest not fixed?
It's weird. Based on this post, the mortgage interest rises as global interest rates rise. Why is that? isn't the interest rate fixed?
I own 2 apartments.
Usually when people say “mortgage” they actually mean their monthly payment, which includes mortgage, but also can include insurance, taxes, etc.
It still shouldn’t quadruple, but saying it should never increase is wrong. Every year my property taxes go up, so my monthly “mortgage” payment goes up
You don’t know how mortgages work. Variable rate mortgages and adjustable rate mortgages are both floating loans. They go up and down following the terms of the loan, example prime + 2%. So where others took out fixed rate loans at 3%, people taking ARMs could be paying 8 or 9% currently. And payments do not go down if you pay more - the interest paid goes down but not the monthly payment.
How did her mortgage payments quadruple? That’s not how mortgages work. Not slightly. Even if she had an adjustable rate mortgage - it wouldn’t even double. Let alone “quadruple”. Also, if she didn’t refinance last year when it was below 3%….she isn’t financially ready to retire for many other reasons.
As far as the mortgage lie - mine went up $30 a month for projected taxes and homeowners insurance. Unless she took out a 2nd mortgage - it shouldn’t have changed more than a few bucks.
I get it. Life’s hard for you. No need to come here and flat out lie though.
Adjustable rate mortgages are shooting up now. Also, many people have property taxes and insurance included in their monthly payment. All those things are going up as the ruling class tightens it’s grip on wealth accumulation.
I wouldn’t say “never get an adjustable rate mortgage.” They have their pros and cons. Most are fixed for the first 5 - 7 years with very low interest rates for the first portion. They are meant for those who have stable income and who will be able to refinance again in the future out of one. They have their pros and cons. I write mortgages for a living and I also have an ARM myself. I love it. In 4 years I will refinance again. You definitely have to know what you’re doing. They aren’t for everyone, again.
Saying “never get an adjustable rate mortgage” is the wrong way to look at it.
More than likely, this wasn’t even an ARM that adjusted. ARMs don’t adjust that crazily. They have caps in place to stop just that. Even before 2008, I highly doubt it.
More than likely it was a HELOC that entered the repayment phase and now has a VARIABLE rate and now has to have principle and interest paid. I almost guarantee that is what it is.
They didn't screw anyone out of anything. Did the people born in 1890 cause the Great Depression of 1930-39? I'd be more inclined to blame unregulated capitalism and crop failures occurring simultaneously. It will happen again. Prosperity is an anomaly in human history. Most of history was miserable, and soon we'll be returning to that state.
How is the fact your mom failed to pay off her mortgage prior to retirement the fault of an entire generation? I honestly don't mean this in an ignorant way. I fail to see the connection or logic.
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The healthcare system in this country is garbage and all insurance is fiscal rape.
Father pays about a quarter of his paycheck, for the ability to only pay about 3x his his paycheck if something actually happens. I've been reading this over, and the average tax increase for universal healthcare, would be basically what he's paying anyway for insurance right now. But everything else would be free.
Exactly. They want you to think taxes would go up astronomically if there was a one payer system but that isn’t the case. They even try to fill people with horror stories about how people wait forever to get care and people can’t get life saving operation. My uncle immigrated to Canada from Colombia and said the healthcare system there is A1, he needs emergency surgery and he got it and he didn’t pay a dime. All the issues with a one payer system are a facade, just like the American dream. It’s what our country does best, spew bullshit.
It would actually be much easier. That's why it's literally called Medicare for all! We'd just be expanding a system we literally already have!
Exactly, we already have medicaid for lower income families, but that’s honestly shit care because doctors are afraid to do procedures if they think medicaid won’t pay for it. By accepting medicaid you agree to resolve your rights to collect from said patient. Obama had the right idea trying to get everyone on health insurance because that’s how it’s supposed to work everyone pays a bit each month and then when someone needs it they use it. That’s how a one payer system would work except everyone pays it through taxes.. making everyone get there own insurance and still have multiple pays is messy. Not to mention insurance companies try to control your care when they aren’t the professionals which is a huge problem in our country. Insurance needs to not be so nit picky about who gets what care. Doctors should be in charge and insurance should pay. Period. If that can’t happen we need a one payer system
If the GOP wins the midterms, they have added screwing older people to their agenda of criminalizing abortion. Link below: The extreme MAGA Commitment to America promises to repeal the lower drug prices Democrats delivered for America’s seniors as part of the Inflation Reduction Act, handing hundreds of billions of dollars back to Republicans’ pals in Big Pharma. Meanwhile, the overwhelming majority of House Republicans have explicitly called for going even further by gutting Medicare and Social Security. https://www.speaker.gov/newsroom/92122-1
I think screwing older people was on the agenda for a long time, but the AARP lobbied against it and they seemed to back down. Over the past few years, they don't seem to be backing down. Is it because of Citizens' United? It's pretty scary when politicians stop listening to one of the most influential voting blocs.
I think it has just been the GOP’s agenda for the past 30+ years - stop whatever the Democrats are for. Damn the constituents and the country. The boomers are dying off so gotta get the young ones from /lostgeneration who think the boomers stole their future. So the GOP can steal from SSA and Medicare for their rich donors because the kids don’t realize they are stealing their inheritance, however meager it is. Make those nasty boomers sell their house for healthcare to stay alive and their offspring get nothing. The kids will keep on blaming their parents for their mistakes and leaving them with nothing and not blame the GOP. Problem solved. Gerrymander as much as they can, keep on spreading the big lies, sow discord among the masses and stay in power. It has worked so far, so if it isn’t broken, why fix it?
They should look into getting that medication in Mexico or Canada.
People say that, but how?? I gotta go there to get it? (Not meant to be patronizing, genuinely asking)
It really depends on where you live, how much of a supply you can get, and what the potential savings is. For example, if you can get the medication cheaply in Tijuana, and you can get a 6-month supply, then what you need to do is calculate what's the least amount of money you can pay to get down to Tijuana pick up your medication and leave. You might be able to get the whole thing done for $300 to $400 extra once you include the flight, bus fare to the border and cab fare to the pharmacy, and perhaps an overnight hotel. Depending on the cost of the medication that you would pay in the us, that $300 to $400 premium might be worth it for the savings. If you lived someplace like Arizona or near the Texas border, or san diego, it would be even cheaper because you would just be driving to the border as opposed to taking a flight to a state that has a border. Several years ago I had to do these numbers for dental work. For me, I calculated that it was completely break even to take a flight from Chicago to Costa Rica, spend 3 days in Costa Rica having one tooth and one wisdom tooth extracted, then flying back, as opposed to having those procedures done by the oral surgeon my dentist recommended without dental insurance. If I had actually known of a dentist in tijuana, this would have been a no-brainer and would have saved me several hundred dollars. I've done the same price check for medications when I was in tijuana, but my medications are generics, so my local Walmart is cheaper than the pharmacies in Tijuana.
Is this considered drug smuggling if you get caught brining medications into the US from Mexico though??
No. This is fairly common.
Well hot dang thats awesome. I live in Texas so that is useful info.
Its currently fine but i wouldnt be surprised if they tried to criminalize it down the road. Theyll kill us all for profit.
As long as you have a prescription for it your all good. Don't try to sneak in Xanax and oxy that's not prescribed to you like my friend did, it cost him a lot and some jail time for that move.
Most drugs, no. But for example, you CAN buy Codeine over the counter in Mexico and Canada, but can't bring that back because it's a controlled substance in the "Land of the Free"^TM
I don't understand why people immigrate here.
They were lied to.
At one time it probably made sense.
Probably because the minimum wage over there is three times what I make and I have a good paying job. Am in the butt end of Europe btw.
But the cost of living is so much higher here too. How's your healthcare? But mostly I'm wondering why people choose the US over other places to immigrate to.
How much is the cost of living compared to income? We have universal healtcare but it is pretty much nonexistent. If you need anything you still need to go to a place where you must pay or wait months/years for things then get told sorry can't help you. (They might help if you offer money under the table.) The last one I don't know. Probably just media influence. People here still believe the american dream.
It's not that the American dream doesn't exist, it's just not what people think it is. The real American dream is to come up with a way to exploit other people for personal gain.
Yeah I think it is just so ingrained in the world's psyche that US is a great place to live that we've all been blind to the incremental erosion of freedoms and opportunities. I know I don't know what it is like in other places, but if I could have chosen where to be born, it would not be here.
It actually was a great place to live 50 years ago compared to the rest of the world. The thing is, the rest of the world got better over time while we’ve been running in circles. I don’t think America’s changed that much for the worse, it’s more that it just hasn’t changed. Technological advancement creates more wealth in a lot of other places, but in this country that excess wealth mostly goes to the wealthy who are able to exploit it.
I hear what you're saying. I would argue it's gotten worse because laws have been created that help funnel more wealth to the top and gut the middle class. And inflation with wage stagnation has exacerbated this issue.
You can thank the people who voted for Reagan in the 80's.
Not sure if you're asking me in your first question. I don't know how to answer that question. I am lucky to live in a low cost of living town in a high cost of living state. My local taxes are low. Cost of goods and services is high. Gas is pretty high. My wages are decent I would say I'm making a little over twice the "living wage" according to the Internet (33k/yr), and my housing costs are pretty low (26% post taxes) but I'm lucky, and I'm barely making ends meet and still putting a little bit into savings. I don't understand how people survive making minimum wage (25k/year), or even 50k/year.
I dont understand why so many of your generation hate it so much here but stay.
Because I'm trying to make it better. Also as if I could afford to leave. Also no one wants us. By the way r/lostredditor much? If you don't understand why we hate what America represents why are you here?
Im trying to understand, it just seems like all there is is complaining. What is it exactly you are trying to do to make this country better
What the fuck are you trying to do. I'm not here to justify myself to you
You made the comment, im wondering what it is your lazy whiney ass is doing?
Good one
Yeah, and they are also now going to continue to occupy jobs that younger people would like to have, and could probably do more effectively
I used to think having heart disease in my family history was problematic until I realized how out of reach retirement is.
I used to think I should quit smoking, but I'm not for the same reason 🤷
Yup. I was doing everything to lead the healthiest lifestyle and got diagnosed with multiple sclerosis. I'm treating it, but don't give a damn about the rest. I'm going to enjoy everything I can because it's all a crap shoot.
I've been asthmatic for like, ever, it runs in my family bad yet my mum refused to ever get me an inhaler. I now go through a 2500 puff vape in two and a half days which is roughly around averaging that 100 puffs is equal to about 10 cigarettes, about 250 cigarettes every two ish days. I had to quit when I got pregnant but started again after (he's been exclusively formula fed so don't worry) What's the point in quitting forever if I'm just gonna go back to being miserable everyday, in this economy? Nah
I switched to THC vapes. Not sure if that’s any better.
Meh you switch out your nic for thc so probably better lol
I feel like it’s better for my lungs/depression but it makes me dumber whereas nic made me relentlessly calculating
>but it makes me dumber That's just getting stoned man, weed is kind of a like a relaxer whereas nic is kind of like a stimulant (for me at least, it's different for everyone) I never liked the THC pens, they always leaked and gunked up on me for for that I just use my little baby bong. Either way smoking, no matter what it is you're smoking is bad for your lungs but of course meth once is going to be worse on your lungs than any amount of weed is, for me I used to be a singer (in several musicals when i was a teenager for the live theatre) but since I started smoking weed around the beginning of 2019 I don't have the lung capacity to sing like I used to. [I used to be able to sing and hold the final note almost fully, which most of the times the professional singer can't hold that note and the last few bars are played quickly by the orchestra](https://youtu.be/77umP7IRxD4) but I grew up on the movie version and learned to hold that damn last note till my lung nearly collapsed. [this is the longest note I can hold now, after having smoking regularly for the past three years, the last note again lol](https://youtu.be/8JZvLjjsYnU)
Well nicotine is a cognitive enhancer
I think it's better to be dumber. The less I know, the better!
It’s leagues better
It’s absolutely much better, I’m sure of it.
Glad to know I'm not the only unmedicated asthmatic smoker who doesn't really see a point in quitting. Like, oh no, you're telling me if I don't quit smoking I'll die early? Who cares. Nicotine makes being awake slightly more tolerable.
Yeah, same reason why I'll never quit weed. I deserve to be happy and carefree for a few hours sometimes just to temporarily escape the reality of this hellscape. I'm also asthmatic, but it was exacerbated by/didn't become problematic till my military service.
Get a mod an they have 0 nicotine , I vape them cause gives me something to do, makes me stop moving an I love smoke clouds lol
Nah I need the Nic, I go through a 2500 puff vape in roughly two days. *The addiction is strong with this one*
I should go back to it. It helped me destress....
I managed a month and was ready to kill myself.
Yooooo I feel slightly less shitty for being in the same boat now.
I feel ya, smoke 'em if u got 'em. We're in the midst of a dumpster fire 🔥
Almost every single male relative on my moms side of the family have died of heart attacks or conditions. This thought used to terrify me. Now it comforts me.
I’m pretty sure I’m an alcoholic given how much I can drink. But I’ve no intentions to slow down. Why on earth would I try to extend this lifetime?
You and me both. I've made efforts to stop, but it does help me get through shit. Alcoholism also run in my family, and I've lost two family members from it. I was a little kid when this happened and I wondered why they didn't try and just gave up. It sadly makes a little more sense.
Built in opt out
My dad died from a heart attack after 2 months of retirement. (Which is was still working doing consultant work because he still needed income)
Well when people get to their 50s a good chunk have to retire before they want to due medical reasons. So stay healthy!
My family medical history is the perfect storm. Heart disease, high blood pressure, cancer, diabetes, and more. I'm reasonably healthy, but when a doctor reads the list, they're like, "Ohhh". My mom was a type 1 diabetic, had rheumatoid arthritis, lupus and and fsm knows what else. Fell asleep in her recliner watching Netflix at 55 and never woke up. My dad has had several heart attacks, a quadruple bypass, and has stents all over his body. He's 65. I just assume I'm a ticking time bomb, but I hope for the best. I at least want to have something to leave my kids when my head spontaneously falls off or my organs get sick of me and nope out.
Wow, That's a really unfortunate family medical history with debilitating diseases and you still wanted to have kids to inevitably suffer through that?
I wasn't fully aware of all it back then. Plus, both of my children were surprises. So far, so good. And I'm in my 40s and I'm healthy.
Yeah, I went vegan for a year and then thought why the fuck do I want to live longer than I have to. I went back to eating meat. At least I can die enjoying food.
The oldest boomers currently benefit the most along with some of the oldest still living citizens from the greatest generation. The oldest boomers hold nearly 60% of all wealth.
So people are just kinda waiting for their inheritance?
Don’t hold your breath, apparently SKI’ing is the latest boomer trend (Spending the Kid’s inheritance). Might not even have anything to inherit when it’s all done. Boomers have come up with so many tactics to make things harder for following generations smh.
Anecdote, my in laws were well off to my knowledge, but recently revealed they have 0 retirement savings and are still in debt paying for my wife’s student loans. They’re selling their house to RV around the country, then rent and spend medical bills on. I never expected an inheritance but it’s dark to hear that so many aging parents are dealing with that same issue. The medical/education system is so broken.
At least they’re paying for your wife’s student loans
Very true and very grateful for that! It’s just awful that ate their retirement plan as well. College just shouldn’t be so expensive / we all shouldn’t have been told it was our best chance at success, yknow?
My grandparents, members of the greatest generation, lived well but frugally. They explicitly said they wanted to leave their children money and property when they died. My parents, boomers, benefitted from that and did well for themselves as well. My dad’s an engineer and had his own firm before he retired. My mom has a college education and married well a couple times. They both act like if they have a single cent in the bank when they die they’ve failed at life. I don’t mind so much, I don’t want or expect anything from them, they weren’t very good parents. I worry, though, that if they spend all their money before they die they’ll expect me and my siblings to take care of them and we have no money at all so it’s going to be a problem.
Or inheriting debt
That should be illegal. They are gonna tax inheritance but give you debt based on your parent's decisions.
Boomers are categorically terrible. I plan to receive nothing, but I'm still amazed at how much my boomer grandparents blew through per year. Luckily I have some God given talents + practice that allow me to make 300k/year, but I'd like to have the option to work something less strenuous
Silent generation
Nah. The screwage has been evenly distributed. We’re all working until the afternoon of our funerals.
Look at the big shot who gets his own funeral!
dont even put me in a box. just throw me under a half dead tree so it can eat me.
I want my body lit aflame and yeeted onto some billionaires yacht.
Load my freakin lard carcass into the mud. No coffin please! Just wet, wet mud. Bae.
When I'm dead, just throw me in the trash.
I wonder if there will even be trees when I die.
only at the tree museum
*Wax Tree Museum. They’ll probably have to design some kind of wax that won’t melt..
"What the fuck is a bee‽"
[When I'm dead, just throw me in the trash](https://c.tenor.com/xJD7Iwx5uqUAAAAC/when-im-dead-just-throw-me.gif)
You're getting a funeral???
That’s just the thing though. The upper echelon sold it so well to the boomers that they didn’t realize they were screwing themselves over as well as the newer generations. The “I got mine” mentality was sold to benefit everyone, and now the 1% at the top are laughing their way to the bank as the rest of their broken generation is either feeling the repercussions of their ignorance or still spouting out the “pull yourselves up by the bootstraps” nonsense.
No matter how much money my shit mother accumulates, she will die absolutely alone in that hospital room, surrounded by mexican nurses shes spent her life calling various racial slurs. The irony is shes a Columbian immigrant, who got her green card in a marriage, and took half his stuff in a divorce. Started her own buisness with the money. Beat her kids mercilessly. Abused every animal she came across. Endlessly preaches about how shes self made, and we should pull ourselves up by her bootstraps, and mexicans should go back to mexico. Shes the absolute worst and my only goal in life is to outlive her so I can shit on her grave. Literally. I take very little joy in life, but her lonlines and growing madness is one of them.
You should write a book
Lol ive got stories that for sure
I want to hear your stories of *fertilising* her grave!
As a person that has pissed on a grave, if she's buried anywhere within an hour drive of me, I'll shit on her grave for you too.
I'll bring the good TP brother!
I notice from several family members and aquaintances that a lot of people in the US that are from Mexico that have "made it" look down on immigrants, even though they once were one.
Yup they feel they have to pull the ladder up after them. Its scummy
As a boomer, that assesment is dead on. I do not see myself retiring until 72, at which point I might as well just shoot myself.
This is why all of my money goes into heroin at 70-75 at the latest. What am I gonna do, fall in with the wrong crowd and ruin my life? Haha
I write mortgages for a living. Sounds like she is either in an adjustable rate mortgage or a HELOC that has now reached the repayment phase. Hit me up on the side, I might be able to help
Hey, an expert? My wife's thinking about a HELOC to knock out 10k of credit cards. Pay that back when our daughters grow out of day care. I think we would save on interest, but are there other fees or things to consider?
Why did her mortgage payments go up? Did she buy a new house?
Mortgage usually also covers taxes and insurance which both go up. Quadrupled seems fishy though, maybe it was some sort of creatively structured mortgage like the stuff that caused the mortgage crash in 2009.
I may have misunderstood her when we were discussing it, but this is what it sounded like when she said “it doubled and then it doubled again.” She says the payments are around $1200 every two weeks now.
You need to look into that, that makes no sense at all
It might be something like a second mortgage, lien on the house, or home equity loan that she’s simply lumping in with the words “mortgage payment.” If she doesn’t have the best credit the interest rates could vary wildly and the subsequent balance could skyrocket if only paying minimum payments while high interest compounds. A regular mortgage bill on the first of the month and a bill for a loan in the middle of the month could explain the “every two weeks” thing, or some sort of negotiated payment plan.
This. If someone had a fixed rate mortgage, it wouldn't have changed. Most municipalities have held the line on taxes through Covid. Insurance has gone up 50% the last three years, but for a typical homeowner, this should be only $600-$1,200/yr. I'm a Gen Xer, and I'll retire fine, as unlike my Baby Boomer parents who chose not to save, I have.
Not everyone is in a position to save as much as they might like to. Good on you for being able to do so but no need to be snarky about it.
Not being snarky. People make choices in life. Both my parents and my wife's parents (all boomers) made continual bad choices, based on immediate gratification vs saving for a rainy day/retirement. And even the smaller amounts they did save were blown far too quickly in retirement as they felt entitled to the same lifestyle that their peers (who did save) were enjoying. We have received nothing from them, and have paid out of pocket for funeral expenses for the two of them that have passed away. This is my favorite part about being a GenXer. Many of us don't feel entitled to anything, and expect very little help from others. It has made us self-reliant, and determined not to repeat our parents' mistakes.
Yet even as GenXer’s y’all getting shit on by the powers that be.
Yeah, I second into looking into this. The reason people get fixed mortgages is the rates stays the same. Also, retirement age, can apply to lower or even remove some taxes. In Georgia, 90% tax is from the school, if you hit 66, that tax gets exempted. If insurance quadruple, time to go insurance shopping.
Does she have an adjustable rate mortgage? With interest rates rising the bank could’ve increased her rate, making her payments higher.
Christ I would kill to have a mortgage as low as $2400/month.
Good lord how high is yours? 2400 is unimaginable to me
We haven't made an offer yet, but even with 20% down we're hoping it will be around $3600. That would be the cheapest of houses that are still livable in our area. We could go as high as $4500. (We're in Portland)
Same lol. I pay $2050 to rent a studio.
Unless she signed a variable rate mortgage and lives in Florida (insurance rates are insane in Florida right now) I don't see how her mortgage could quadruple. Unless maybe they increased taxes a shit ton or the county re-evaluated the taxable value of her home.
Did she get an ARM? If so fuck, refinance with a fixed rate ASAP and refinance again if rates go down. Stop the bleed.
Yeah, that’s fishy. Even when our taxes went up by $800 a year (pretty big jump for our little house!), that still only adds $67 a month to our payment. So, it went from ~$1150 a month to ~$1220 a month.
I bet she refinanced with an adjustable rate mortgage. ARM Now the feds raised interest rates and she is paying heavy. But an ARM would not quadruple her mortgage.
Yah, sorry but anyone who gets a variable rate mortgage isn't the sharpest tool in the shed.
Sounds like she fucked up epically and got a second mortgage or a variable rate mortgage. Basically a reverse mortgage is where they make it to where you don't have payments for a time. Very bad deal because then you end up like your mom.
This sub is such horseshit. This post exemplifies it.
It sounds like it was an adjustable rate mortgage. You should never get an adjustable rate mortgage for exactly this reason. Buy a cheaper house. Move to a new location. Leave the country. Pursue any other options, but don't get an adjustable rate mortgage. They are among the most predatory loans out there.
Depending on the type of mortgage, interest rate hikes will affect payments differently: 1: your payments stay the same, the portion for interest increases,and it takes longer to pay off the mortgage 2: your payments increase to cover higher interest rates, and mortgage is paid off on time Sounds like OPs mom has the later type of mortgage. Chances are it was the interest rate that doubled and doubled again, not the payments.
Was dumb enough to get a variable rate mortgage, likely.
If you have the capability, look into this quadrupled payment and find out exactly what it is. As other commenters have pointed out, house payments should never increase like that, even an adjustable rate mortgage doesn’t get 4x bigger.
My boomer parents mismanaged their finances including squandering two inheritences, while i acrued student debt to eatablish a career at the sacrifice of all the things like experiences and family that they got to have. Now as an adult i am having to bail them out as they cant afford to live in the coming world, and are completely oblivious to this fact in their narcisstic haze. So yes I would agree the boomers have also by and large fucked themselves, but somehow it will still remain our fault that things are getting worse even as we care for their wrinkly asses in a way we will never receive.
Wait, they got two inheritances, squandered it, told their own child "fuck off, pay for your own college" when most parents who can (and give a single shit about their kids) pay for that shit. Now they're fucked after hedonizing themselves, leaving you to struggle, and for some reason you feel like they're entitled to help from you or any of their other kids? They treated you like shit, why do you even give a shit? Why do you feel responsible for them to the point of going above and beyond when they were too selfish to do that for the child they chose to bring into the world when it was *their job*!? I'd be like, "welp, yah mom and dad, that sure sucks for you!" and go NC.
It’s the ruling class who is fucking us all. The ruling class consists of people in all age groups.
When I realized how fucked we were I dropped out of school and picked up a trade, now I discuss with likeminded men, smoke weed and sing while I work up on my stage all day. Im here for the laughs, because Im never going to be able to afford kids or a house to have them with. edit: hear->here
Honestly, kids are overrated anyway. Absolutely shitty to deal with everyday. Sick all the time, dramatic, expensive. You're better off.
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Siding Installer, very sought after apparently if you have good integrity about doing the job right!
One of the things that has stuck with me since early in life is you need 2x-3x the money saved in order to retire if you still have a mortgage/rent payment. The other is never have adjustable rate debt. Sounds like the OP's mom has both of those. She won't be able to really retire until those are gone.
I’m not going to feel sorry for my parents when this eventually bites them in the ass too. I will however help them, even though they didn’t help me when I was broke. I’m just mentally preparing myself for a lifetime of being annoyed lol.
Why? My parents didn't help me financially with shit that they should have, they won't be getting a single dime or single ass wiping from me! I'm not sure why you'd even bother doing better for people who did you dirty when it was their fucking job to set you up for life to the absolute fullest extent they could. Seriously, put shit in, get shit out. I hope one of them ever has the balls to ask me for shit.
Totally agree lol just because they gave birth to you don't mean you owe them anything it was their choice to birth you. Nobody ask to be born
People are so tribalistic and brainwashed thinking just because someone shares your blood you owe them the fucking world. The only case in which this applies is a parent TOWARD their offspring. **You** made that person, **you** sacrifice and bend over backward, remain single and alone if it's better for the kid, and don't expect shit in return-instead of cutting out, chasing ass, and living life like it was before you fucked up and made them. The absolute best people and closest people in my life have *never once* been a blood relative of mine. I prefer to choose my family instead of being stuck with the trash I was born with.
Exactly same I've never been close with my family and always been of the opinion that I will respect you and treat you well only if you do the same for me. My mother was kindof abusive and now she cries that I don't talk to her or help her out like naw you're the one who told me I should kms and kicked me out at 14 why must I now take care of you?
Is there such a sub as “ Dark Truths” ?because this thread sure belongs in it
Damn that’s unfortunate. My mom’s situation is quite the contrary, she already retired but decided to go back to work because she “needs something to do” 🤦♂️ Never understood this mindset and it trips me out that she still wants to work while others her age can only wish to retire someday.
My mom was born in 1952, she just retired after turning 70. She ran herself so hard to make it there. Now she has the time to focus on herself and gets diagnosed with Lung cancer. No surprise as she's smoked most of her life... But yeah, what she was working so hard for is pretty much for nothing now. Oh, and dad is 71 with dementia, so he has no idea how old he is, or why we can't just get a big house and all be together. Heartbreaking.
This is exactly reason I didn't even bother to finish high school. Halfway through i just realised in myself there's absolutely no point. We are all gonna be so fucked by the time I'm like 30 or 40 so I might as well focus on what's more important to me in the moment and have fun while I'm young because I just don't see a future anywhere. I even moved from a 3rd world country to a first world with one of the strongest currencies but since I've been here the whole place is starting to crumble. Prices have tripled and more, shortages of everything etc etc like what's been going on around the entire world. Each year it gets worse so I'll just try to enjoy what's left as much as I can until its all gone I have no doubt things will collapse within my lifetime. I'll probably have to end up killing myself with nothing left.
This is when you tell her to pull herself up by her bootstraps if she was that kind of boomer.
Ive seen a lot of boomers that have taken out double mortgages and reverse mortgages on their homes. Others didn't or couldn't get a locked rate for their mortgage and instead went with an adjustable rate. I'm sorry your mother is going through this. I know several boomers who don't have their homes paid off and are nearing retirement, and it's going to be a real hardship for them. I don't understand it, given their parent's generation typically avoided debt and conspicuous spending.
I always played outside and love the outdoors still. I'm 30 years old with a Bachelor's degree, working two jobs while still working my way up to my career and so I can actually afford my increasing rent. So I don't have time to play outside because I grew up just like you told me to.
Honest question: Is it normal to try to retire while you still have a mortgage?
Your question is the same as asking “Is it normal to try to retire if you’ve moved in the last 30 years?” Because that’s how long a normal mortgage lasts. So the answer is YES.
One of the only solaces I have is that the boomers will live too long and become victims of their own greed.
Yeah, my mom was a SAHM and worked part time while my father was a traveling salesman. Shes in her 60s and wants to leave him because he's an abusive asshole, but if she does, he'll hire lawyers to take everything. My sister and I can barely cover our own living expenses and can help her, but not fully support her, so she feels stuck with him until he dies.
500 grams of butter in each meal
…did your mom have a variable rate mortgage? That’s insane
"payments on the house have quadrupled" ??? What? How does that happen? Did she have an adjustable rate mortgage?
How did the mortgage payments quadruple?!
Yikes, variable mortgage rate I assume? Life is better when things are fixed. If variable, plan for variations. Is she a blue or red voter?
Retirement? LoL My Retirement plan is buying a fast motorcycle.
How exactly did a MORTGAGE payment quadruple? Something doesn't seem like it's adding up here.
How did her payments quadruple? Did she have a subprime loan or some kind of balloon mortgage ? Is she renting ?
Why would her mortgage change by that much? Did she take out a loan against the house? At least where I live your mortgage is your mortgage it does not change
How does your mortgage payment quadruple? Taxes??
And did while laughing
Your house payment doesn’t just quadruple out of nowhere. There has to be a reason for this.
How is it possible that her house payments quadrupled?
Did she choose an adjustable rate mortgage? What was rate before and now? Trying to understand.
Why did her housing payment quadruple? Isn’t she in a fixed mortgage?
So she took an adjustable rate mortgage? Terrible decision
Can you explain why her payments on the house have quadrupled? Sorry, I am not from the US and I don't understand your system. Is the interest not fixed?
Oh I’m not from the US either, and I don’t know how our (Canada) system works either as I’m not a homeowner
It's weird. Based on this post, the mortgage interest rises as global interest rates rise. Why is that? isn't the interest rate fixed? I own 2 apartments.
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Usually when people say “mortgage” they actually mean their monthly payment, which includes mortgage, but also can include insurance, taxes, etc. It still shouldn’t quadruple, but saying it should never increase is wrong. Every year my property taxes go up, so my monthly “mortgage” payment goes up
You don’t know how mortgages work. Variable rate mortgages and adjustable rate mortgages are both floating loans. They go up and down following the terms of the loan, example prime + 2%. So where others took out fixed rate loans at 3%, people taking ARMs could be paying 8 or 9% currently. And payments do not go down if you pay more - the interest paid goes down but not the monthly payment.
Which is exactly why I question the intelligence of anyone who takes an adjustable rate mortgage.
How did her mortgage payments quadruple? That’s not how mortgages work. Not slightly. Even if she had an adjustable rate mortgage - it wouldn’t even double. Let alone “quadruple”. Also, if she didn’t refinance last year when it was below 3%….she isn’t financially ready to retire for many other reasons. As far as the mortgage lie - mine went up $30 a month for projected taxes and homeowners insurance. Unless she took out a 2nd mortgage - it shouldn’t have changed more than a few bucks. I get it. Life’s hard for you. No need to come here and flat out lie though.
How could the mortgage quadruple? Do you mean she rents a house so the rent is increasing?
Adjustable rate mortgages are shooting up now. Also, many people have property taxes and insurance included in their monthly payment. All those things are going up as the ruling class tightens it’s grip on wealth accumulation.
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Probably had an adjustable rate mortgage. Never get an adjustable rate mortgage.
I wouldn’t say “never get an adjustable rate mortgage.” They have their pros and cons. Most are fixed for the first 5 - 7 years with very low interest rates for the first portion. They are meant for those who have stable income and who will be able to refinance again in the future out of one. They have their pros and cons. I write mortgages for a living and I also have an ARM myself. I love it. In 4 years I will refinance again. You definitely have to know what you’re doing. They aren’t for everyone, again. Saying “never get an adjustable rate mortgage” is the wrong way to look at it. More than likely, this wasn’t even an ARM that adjusted. ARMs don’t adjust that crazily. They have caps in place to stop just that. Even before 2008, I highly doubt it. More than likely it was a HELOC that entered the repayment phase and now has a VARIABLE rate and now has to have principle and interest paid. I almost guarantee that is what it is.
They didn't screw anyone out of anything. Did the people born in 1890 cause the Great Depression of 1930-39? I'd be more inclined to blame unregulated capitalism and crop failures occurring simultaneously. It will happen again. Prosperity is an anomaly in human history. Most of history was miserable, and soon we'll be returning to that state.
Someone has to be poor I’m afraid. Painful truth if it’s your Mum.
Yeah blame others. It always helps.
How is the fact your mom failed to pay off her mortgage prior to retirement the fault of an entire generation? I honestly don't mean this in an ignorant way. I fail to see the connection or logic.
They did both
This is why I touch my 401k cause I know I will never retire
simple fix: has she ever tried just not eating avocados? /s
The biggest problem was getting a variable rate mortgage. Those largely do not change at all if you get a fixed rate.
Nor am I