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Overzeetop

Overzeetop@kbin.social
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Oh yeah, my state has one boob on the flag and one in the Governor’s mansion. Livin’ the dream.

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It’s magic and we don’t know how it works*.

* as of my latest coursework in Biology; IDK if anything has been discovered since the 80s.

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Does nobody proofread anything anymore? This amendment, well intended, sounds like it was written and distributed by a 6th grade civics class.

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That brightens up my Thursday morning considerably.

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Not only that, but SP500 pays dividends practically every year, whereas gold costs money to store securely. $15M in SP500 would have netting something around $300k last year in dividends alone.

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Their names are on the titles, they own the homes. Their banks - the mortgage lenders - hold a rights to a lien placed on the property, but they have no title to the property unless they enforce the terms of their lending contract in the event of default.

The owners making 500k may very well be just a few months from foreclosure if they lose their job, but they likely have at least 20% (likely much more unless they bought at a premium two years ago) equity and can probably salvage at least half - even after fees - if they were to become “destitute” and undertook a regular sale of the property. 10% of a million dollars (or more), for most of the country, is still a healthy sum of money.

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In some industries, absolutely. In others, there are benefits to staying or there really is 10 years of growth potential.

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“live paycheck to paycheck.”

That may be generally true, but they likely have a bunch of equity in their homes, and I’ll bet their retirement accounts are generous. Sure, there are some who just spend everything, but most people at that level are already “hiding” as much money as they can from taxes.

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