<p>sewhappy:</p>
<p>I know that deleveraging is bad for the country. BUt it is a reality.</p>
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<p>Planestate:</p>
<p>Cash flow is depndent on assets. Without assets in long term thing mess up. Cash flow in long term is propotiional to asset on hand. </p>
<p>Food is an asset as without food we will not function. Without food people will be up in arms. That we know now as Arab Spring!!!.</p>
<p>Food is an asset as without food we will not function.</p>
<p>I agree & so do many others- which is why we see urban agriculture as a force which is not going away. 
[Office</a> of Sustainability and Environment - Food](<a href=“http://www.seattle.gov/environment/food.htm]Office”>http://www.seattle.gov/environment/food.htm)
[The</a> Future of Urban Agriculture | Sustainable Cities Collective](<a href=“http://sustainablecitiescollective.com/growninthecity/22664/5-questions-dr-nevin-cohen-five-borough-farm-project-food-systems-academia-and-]The”>The Future of Urban Agriculture | Smart Cities Dive)
[Cultivate</a> Kansas City : Home](<a href=“http://www.cultivatekc.org/]Cultivate”>http://www.cultivatekc.org/)</p>
<p>The OP, word for word has been posted on many financial blogs all over the internet. I believe the original author is Charles Hugh Smith. Did he get his data from confidential internal Goldman Sachs documents? I don’t know.</p>
<p>OP,
Here the way it should be. It is doable at any income level, life style is needed to be adjusted to income level.
"Auto loan balance: $10,000 - should not buy any car that you are not capable to pay off within 10 - 12 months. If it means used car, then buy used car. we are close to retirements, we have not bought a new car yet, no plans to do so, auto loan=$0
Actual market value of auto: $6,000 - greater than $6000 for each of 2 cars
Credit card balance: $5,000 - credit cards should be used to the point that it could be paid in full on billing date. Credit card balance=$0
Street value of stuff purchased with credit card: $300 - higher, we buy everything on credit card, but we do not buy a lot.
home mortgage: $250,000 - should buy a house that you are capable to pay off within 10 years. House has to be paid before kid is in HS. Mortgage=$0
Auction value of house: $200,000 - this market value of our house based on similar houses in our area
Student loans: $50,000 - should send a kid to UG without a student loan. Options: in-state, merit awards, pay out of paycheck. One kid was paid out of paychecks, another was covered by Merit awards. Student loans=$0
Market value of education: Not applicable, as it cannot auctioned off or securitized - very applicable, since it allow certain income. One kid is working, has his own company, another one is in Med. school, cannot get to Med. School without UG degree.</p>
<p>Everybody can live without debt, but only if they want to. It is up to family, what they choose. Some enjoy debt, others do not. We are free to choose bearing consequences of our choices.</p>
<p>Njers:</p>
<p>Bunsenburner asked for a source and I could not provide. </p>
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</p>
<p>I don’t know either. All I am seeing some risk management issues.</p>
<p>OP, if you cannot post a credible link, please do not propagate financial rumors and gossip. Financial blogs? Yeah, those are very credible sources.</p>
<p>MiamiDP</p>
<p>If you see my income is way less than you. It is doable for us the it is doable for anyone. Being an immigrant with no money, when we came between us we started working straight 14 hours a day seven days a week. There was no other way as we have to make sure kids gets a decent eduucation and food on the table.</p>
<p>Was it hard, Yes
Did I enjoy it, Yes<br>
Will I do it agians, Yes</p>
<p>Bunsen </p>
<p>You are more than welcome to ignore my posts!!! Plus Iam not supposed to post artciles from private blogs as the CC guideline states.</p>
<p>NJres, thanks for the tip about the source. He’s all about having ready money that can be used to generate current cashflow…which in his view means that having retirement accounts is a bad idea. :rolleyes:</p>
<p>LOL. All I could say. OP - You sound like the trolls on YFMB.</p>
<p>Bunsen </p>
<p>I have been patient with your insults, you are jacka***. No more replies to you beacuse you are illiterate in economics and nothing to contribute. You do not know how to talk?</p>
<p>Insults? No insults, I’m asking for the source of information. Without it, sorry - your posts do sound ■■■■■-ish.</p>
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<p>You initially stated that your OP was from “internal Goldman Sachs documents that are for not for public.” </p>
<p>People here manage to post info from blogs and then mention the blog, or how to find it, without giving a direct link. That gives readers the option of hunting down the original source and deciding if it’s trustworthy. It’s intellectually dishonest to post something from a blog that can be read by the general public, and then insinuate that it’s information that’s only available to financial industry insiders.</p>