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I don't suggest actually doing this, but you could load up on deep out of the money call options with your $172.
Actually i don't think I can do that. When I relocated and was able to return to work, I saved up $4K and tried to open a brokerage account and was denied because of a conflict with the PATRIOT Act. Seems they pulled my credit report (!!!) and the address on my CR did not match the address on my app.
Actually i don't think I can do that. When I relocated and was able to return to work, I saved up $4K and tried to open a brokerage account and was denied because of a conflict with the PATRIOT Act. Seems they pulled my credit report (!!!) and the address on my CR did not match the address on my app.
Oh, c'mon. I've moved 9 times in the last 11 years and have a brokerage acct in two different firms. I did have to call one up and verify my identity, but still got it eventually. Not all of them verify identity the same way so you could look for one that lets you through. Not having a driver's license or state ID may make it tougher, so perhaps the first $10 or $20 of the $172 would need to be used for the ID card.
More realistically, get someone lined up to sell some of your stuff "on commission". If you know what will lose you the least then sell enough to move out of your current place so you can ditch that storage unit. (IIRC you previously said your problem was not the rent but the lack of an up-front lump sum.)
Almost anywhere in California, a house is indeed a luxury item. Where I live, on the other hand, buying is often cheaper than renting (on a $ per sq ft basis).
Oh, c'mon. I've moved 9 times in the last 11 years and have a brokerage acct in two different firms. I did have to call one up and verify my identity, but still got it eventually. Not all of them verify identity the same way so you could look for one that lets you through. Not having a driver's license or state ID may make it tougher, so perhaps the first $10 or $20 of the $172 would need to be used for the ID card.
More realistically, get someone lined up to sell some of your stuff "on commission". If you know what will lose you the least then sell enough to move out of your current place so you can ditch that storage unit. (IIRC you previously said your problem was not the rent but the lack of an up-front lump sum.)
Well their letter explained the issue with the PATRIOT Act and I just sheepishly accepted it at face value, i.e. I assumed every brokerage would handle an app the same way.
Location: San Ramon, Seattle, Anchorage, Reykjavik
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Quote:
Originally Posted by KaraG
That's not what I see at all. We have several millennial kids in the family. Only one is renting in the city. The rest chose to be in the suburbs where the better schools are. Four have purchased homes, the other four are renting in high COL areas where it is more economical to rent large homes right now than buy.
Interesting. Not sure what part of the country your children live in but I can tell you the money behind residential real estate development doesn't agree with you. Developers are pouring most of the development dollars into redeveloping the urban core. Housing stock in suburbia is downgrading and little is being invested in new housing developments. The public schools may or may not be strong but in many states that too is changing as more state-funded but privately owned (and, honestly, poorly performing) chart schools are being opened.
High density, direct to transportation platform residential development is the developing trend to suit the quickly changing demographics. Men and women are waiting to get married, if at all, until they are much older. Many are choosing to not have kids. Many are also forgoing the cost and complication of a car to leverage other types of transportation, especially given they choose to live close to work. The only real growth in many suburban areas is movement of low income families from the gentrifying inner city neighborhoods to the first ring suburbs. They often don't have the money to buy a house so rent instead. Home ownership is one of the very few things that keep a suburb alive. None of these bode well for suburbia.
Well their letter explained the issue with the PATRIOT Act and I just sheepishly accepted it at face value, i.e. I assumed every brokerage would handle an app the same way.
There are many ways to resolve patriot act issues. In your case sending in a copy of a govt issues id that matched your address on your account, sending in a current utility bill in your name with a matching address and there are more. I'd guess the requirement went unaddressed by you
There are many ways to resolve patriot act issues. In your case sending in a copy of a govt issues id that matched your address on your account, sending in a current utility bill in your name with a matching address and there are more. I'd guess the requirement went unaddressed by you
Exactly. This kind of thing should be simple enough to resolve and not dependent on a credit score.
Interesting. Not sure what part of the country your children live in but I can tell you the money behind residential real estate development doesn't agree with you. Developers are pouring most of the development dollars into redeveloping the urban core. Housing stock in suburbia is downgrading and little is being invested in new housing developments. The public schools may or may not be strong but in many states that too is changing as more state-funded but privately owned (and, honestly, poorly performing) chart schools are being opened.
High density, direct to transportation platform residential development is the developing trend to suit the quickly changing demographics. Men and women are waiting to get married, if at all, until they are much older. Many are choosing to not have kids. Many are also forgoing the cost and complication of a car to leverage other types of transportation, especially given they choose to live close to work. The only real growth in many suburban areas is movement of low income families from the gentrifying inner city neighborhoods to the first ring suburbs. They often don't have the money to buy a house so rent instead. Home ownership is one of the very few things that keep a suburb alive. None of these bode well for suburbia.
Our children are in the south, the midwest, southern California and Manhattan. Only the New Yorker fits your description. The rest are very happy with their cars, being able to live in neighborhoods with other young families, being close to their non-city located jobs, good schools and ball parks. And I can assure you they are not low income.
Freemkt, at your income/skills level you don't have many options.
I kinda see your options here:
1) Rent a bed out of a house. These can typically be found for $200-$300/month which includes everything. This will allow you to save up money over time and purchase a small house, where you then do the same. You can continue rolling your profits into additional homes as time goes on. I have seen people in areas like Washington, DC do this to get a head start on their savings goals where housing was outrageously expensive but where jobs paid more than the minimum wage, typically $12/hr or so for the lower skilled jobs. Doing this a couple years allowed them to amass a fairly substantial amount of money, and one person I knew used that time to learn the ForEx market, where they then finally had money to put to use after several years.
2) Invest in your job skills, so that over time your income grows. Keep in mind most of the higher paying jobs worth doing take 5-10 years of investment to pay off, most people don't graduate college and walk into a six figure job (some do, but again not most).
3) Move to a part of the country experiencing a labor shortage, and save your money. A good example would have been North Dakota over the last 3-4 years as the oil boom allowed general laborers to make $50k+ and the experienced skilled guys making closer to six figures. This option isn't really there now but keep an eye on oil, it will come back.
You complain a lot but don't really do much about it, if you're tired of being poor you can actually do something about it and get ahead, I promise.
One job I know of that would offer a substantial way to save money is flight attendant. You can live in a "crash pad" for $200-$300 a month, and save everything else you earn. Starting wages aren't great, maybe $18k-$20k a year, but they do increase over time and you do get a decent amount of time off as well, especially on reserve. One person I know sits on call reserve and drives for Uber until (if) he gets called. Double dipping like that is allowing him to get ahead. Reserve FA's don't work too much, maybe 6-10 days a month max.
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