I’m kind of overgeneralizing, but what you need is first generation Asian parents. They’ve got this shit mostly figured out. And I’m sure some would say they might be too extreme in the other direction.
This lackadaisical approach of just doing whatever the fuck and assuming it would all work out in the end actually worked for white boomers. They started their careers in the 60s and 70s where a university degree actually meant you got a good job and if you didn’t have a degree you could work at the union factory and get a living wage, home ownership, and a pension. The reason that immigrants have better ideas about what choices to make is that they had to make actual good choices to get good lives.
Yup and after it all worked out for Boomers no matter what, it seemed like most of them didn’t pay attention to things changing behind them, and thus gave terrible advice - both to their kids, on a personal level, and systematically - through guidance counselors and such.
Seems like there’s two formulas for those kinds of articles. One is something like “here’s how I paid off $85K in two years by budgeting” and it starts off with laughably basic ways to cut very small expenses (“eat out less”, “make my own coffee” etc) and when you start wondering how saving $150/month on this stuff helped them pay off this huge debt they’ll slip in “#4 - I was finally able to unload a $270K property I inherited from my grandfather 3 years ago” and you throw up your hands and close the window.
The above article is the other kind where they claim all this unverified passive income from blogging and YouTube views and when you’re wondering how the fuck they make so much, well wouldn’t you know it here’s a not so subtle ad for his business to teach you how to do the same:
My second business, which teaches people how to monetize their knowledge and passions like I did, launched in 2018. Over the last six months, I’ve generated $120,000 per month in passive income from an online course called the Automatic Income Academy, my Six-Figure Coaching Community, a high-level business coaching program called The Epic Mastermind,
Yes its either “my parents bought me a house” or “I make obscene amounts of money from a blog you never heard of in an age where ads and referrals make nothing”
A friend of mine lives in Georgia, and he sent me a link to this scholarship program:
As far as I can tell, this is insane:
The taxpayer donates some amount of money, up to $1,000, to this scholarship fund.
The taxpayer takes a 100% Georgia income tax credit, so that the donation is zero cost.
This seems galactically stupid from Georgia’s point of view - rather than just directing state funds to this particular program, they set up a logistically complicated program where the state intentionally creates middlemen taxpayers that the state fully reimburses. That seems crazy to me.
But that’s not all! My friend is in a situation where he itemizes his deductions and is above the cap on state and local taxes (SALT). So by doing this costless donation in Georgia, he converts a non-deductible (over the cap) state tax deduction into a deductible charitable contribution. This donation actually makes him net money.
It doesn’t make any sense at all to me. The charitable recipient doesn’t get any incremental money with this taxpayer scheme, plus there’s a bunch of administrative nonsense involved. It would be much easier for the state to just fund directly.
And it’s not like this is set up for the truly wealthy. The donation amount is capped at $1,000, so no one is getting rich from this. It just seems utterly stupid.
Not sure what you don’t understand. It’s a tax cut for civic minded people rather than tax and spend liberalism, which we all know never works. Huge difference!
Politicians are absolutely in love with tax credits because then they can say Read My Lips I Did Not Raise Taxes. Also they are of little value to poor people and fuck poor people, AMIRITE?!?!?