Methuss

AMEX using "guilt by association" ratings

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If I took my salary and moved to where you live, Deanna, I'd really really be happy. I looked, I would only need $56k a year just to live how I live now.

You looked huh? So you know where I live do ya? Have you been stalking me AA? :lol::lol:

Just joking, I remember posting my general area a while back. Anyhow, you are right. My area is awesome. Jobs are good and the cost of living is low. My home is about 40 years old, 3 bedrooms, 1 bath, 1350 square feet on about ΒΌ acre. I got it for 67k. You can't get that for that price in some other areas. While it is older and not exactly a mansion, I love love love it! I love the "cottage" feel, hardwoods and all. I think newer homes lack a certain charm. Even if I were to become a billionare, I would still want an older home.

You will like Texas, you really will. Are you originally from the south though? Cause you're gonna get made fun of if you sound like a yankee.....you know that right? :lol::lol::lol::lol::lol:

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JMHO....

I have been debt free for over 10 years, we own several houses and cars not to mention my shop...But keeping debt free is hard to do

Our networth is 750,000.00 and I expect this to increase in the next 10 years when I plan on selling my shop and retiring.

But for me being debt free I have paid the price...no savings or retirement or insurance for my family.

So I got a job with all the needed benefits...I will dump as much as I can into my IRA and maybe do a second Roth account...the company matches 6% of my contributions so in 10 years I will have a small amount of cash without having to sell my assets.

I have built up my credit and I am just sitting on the cards...as I make enough to pay my bills and save a bit too...no more small kids at home so that decreases expenses...

I now have life and health insurance...so if something happens I hope I'm covered...

I like my job I work 3 days a week and make 2000.00 a month...my shop is holding it's own and I do not expect to ever be my sole source of income, but an asset to profit by when I sell it.

Overall looking at the big picture, I think I will be better off on a few years...when I have cash rather than assets...and the best part is we did it ourselves, self made almost millionaires

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JMHO....

I have been debt free for over 10 years, we own several houses and cars not to mention my shop...But keeping debt free is hard to do

Our networth is 750,000.00 and I expect this to increase in the next 10 years when I plan on selling my shop and retiring.

.

.

.

750k with multiple real estate, a business, and no debt? Are you sure you are doing your net-worth calculation correctly?

What you own - what you owe = net worth.

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The Farm we live in 265,000.00

The small house we are fixing to sell 30,000.00

The House my DD lives in 10,000.00

The house we own in MI, 55,000.00

The house we own in FL 125,000.00

My shops contents 210.000.00

My shops building 35,000.00

5 cars and trucks aned a van 20,000.00

Total debt, including the furnace loan for the shop 5600.00

LOOKS GOOD on Paper doesn't it

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Well Whocares...you are doing what most of us aspire to do....

::allhail::

Congratulations, keep coming here so we can learn!

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I pull in about 33-34k depending on how my bonus is. With 2 kids, (and I do alot for my exstepdaughter so I guess you could say I had 3 :lol:), that's not alot at all. I get about $400 extra a month from exhubby right now too so that helps out.

The only extra I get is my VA disability pension which is only 230.00 PM:twisted: I guess it is better than nothing at all LOL:confused:

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Turns out this is absolutely TRUE. It's not something someone "discovered", they just come right out and tell you this!

In perusing my statement online, it encouraged me to apply for a preselected card so I bit.

Here's the denial:

Your consumer credit report indicates too many requests for credit during the last six months

The length of time you have been a customer with Amercian Express is too short

Our credit experience with customers who have made purchases at establishments where you have recently used your card.

Your present balance/spending levels have exceeded your demonstrated ability to pay

I've only had the card for 3 weeks, I've paid my rent, cable/internet/phone, Cell phone, and a trip each to walgreens and Burger King.

Tell me it's not the one trip to BURGER KING???? So what do I do? Should I call in for a brief tutorial on how to use my AMEX?

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Turns out this is absolutely TRUE. It's not something someone "discovered", they just come right out and tell you this!

In perusing my statement online, it encouraged me to apply for a preselected card so I bit.

Here's the denial:

Your consumer credit report indicates too many requests for credit during the last six months

The length of time you have been a customer with Amercian Express is too short

Our credit experience with customers who have made purchases at establishments where you have recently used your card.

Your present balance/spending levels have exceeded your demonstrated ability to pay

I've only had the card for 3 weeks, I've paid my rent, cable/internet/phone, Cell phone, and a trip each to walgreens and Burger King.

Tell me it's not the one trip to BURGER KING???? So what do I do? Should I call in for a brief tutorial on how to use my AMEX?

I told you guys, this is not surprising. Try getting denied for an AMEX based on where you went to school?! AMEX was passing out applications and t-shirts just like the rest of them, but denied me based on defaults that came from prior students. This was back in '95....

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If you're gonna eat, make sure it's a STEAKHOUSE!

LOL....hmmmm....so spending $100 at Peter Luger's (and that's for a steak, mind you....if it's dinner for two, expect to shell out minimum $300), or 6 bucks at Burger King.....but I have to spend it on an Amex.......

Yeah, nothing ludricous about that at all....

#&*@ Amex! That's what I say.

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LOL....hmmmm....so spending $100 at Peter Luger's (and that's for a steak, mind you....if it's dinner for two, expect to shell out minimum $300), or 6 bucks at Burger King.....but I have to spend it on an Amex.......

Yeah, nothing ludricous about that at all....

#&*@ Amex! That's what I say.

Well dang. When I think nice steakhouse, I'm thinking like Outback or Roadhouse. American Express must equate those places to the Wafflehouse.........:lol:

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Well dang. When I think nice steakhouse, I'm thinking like Outback or Roadhouse. American Express must equate those places to the Wafflehouse.........:lol:

Wafflehouse....the South's answer to IHOP.... :lol:

I've personally never been to Peter Lugies but from what folks have told me, the steaks are worth every penny. Then you got places with their Kobe beef (no, not Kobe Bryant....) that really make you go :shock:

http://www.peterluger.com/

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Well dang. When I think nice steakhouse, I'm thinking like Outback or Roadhouse. American Express must equate those places to the Wafflehouse.........:lol:

Yeah Outback makes some great steak!!! I love the Waffle House too I used to go there with my friends after drinking and clubbing all night LOL :mrgreen:

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Deanna, Tommy, jjgross and anyone else,

Thing you have to keep in mind is that while my salary might be greater than yours, cost of living eats up at alot of my salary. If I took my salary and moved to where you live, Deanna, I'd really really be happy. I looked, I would only need $56k a year just to live how I live now. New Jersey (and really, it's the metro-NYC area) has the highest cost of living in the entire Union, followed by Connecticut. Texas cost of living is LOW....especially Austin, compared to New Jersey. Texas is also a highly developed state and is a technology mecca. I desire to move there because there is no state income tax...if I don't move there while I'm working I will definitely retire there.

Bottom line, NJ is a very expensive place to live in. Salary by itself isn't a good measure of how well someone is doing. Though, like you, I feel very blessed as well.

The Cost of living here in Ct in my opinion is worst than NJ. The taxes on real estate are SICK!! I don't want to buy a home here ever, Way to much $ and way to little of a home. Car Taxes are Sick, I have to Pay town car taxes, plus county and state...I can get on a list for my town so I dont have to pay it anymore cause I am a vet but it is only if you have a 2000$ or less valued car. I only make 19.45 PH here as a Diesel Mechanic.

I eventually would like to transfer to one of the Carolinas and buy a home there instead of here. A mortgage for me here in Ct. Hartford County on a 250K home is like 2k month!!!! AND You cant buy a decent home here for less than that...I dont even qualify because of my income to even think of trying to buy a home here in Ct.And the Governor wonders why nobody stays here....

The most I qualify for is 120K with my income and that wont get you S$%T, Maybe a 2 bedroom condo...I would never buy that...It is damn near impossible to get rid of one of those, Esp. here.

Bottom line...With what I pay for in rent and just staying alive, living here I am lucky if I can save 50.00 a month LOL I need to find a new career, or become a Permanent student....:mrgreen:

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The Cost of living here in Ct in my opinion is worst than NJ. The taxes on real estate are SICK!! I don't want to buy a home here ever, Way to much $ and way to little of a home. Car Taxes are Sick, I have to Pay town car taxes, plus county and state...I can get on a list for my town so I dont have to pay it anymore cause I am a vet but it is only if you have a 2000$ or less valued car. I only make 19.45 PH here as a Diesel Mechanic.

I eventually would like to transfer to one of the Carolinas and buy a home there instead of here. A mortgage for me here in Ct. Hartford County on a 250K home is like 2k month!!!! AND You cant buy a decent home here for less than that...I dont even qualify because of my income to even think of trying to buy a home here in Ct.And the Governor wonders why nobody stays here....

The most I qualify for is 120K with my income and that wont get you S$%T, Maybe a 2 bedroom condo...I would never buy that...It is damn near impossible to get rid of one of those, Esp. here.

Bottom line...With what I pay for in rent and just staying alive, living here I am lucky if I can save 50.00 a month LOL I need to find a new career, or become a Permanent student....:mrgreen:

You know I am inclined to agree with you, however based on what I remembered reading, at one time NJ had the highest COL with CT following at number two. Just for S&G, I looked at what the current COL by states were. While NJ and CT are now longer 1 and 2, NJ still has a higher COL (but I have always contended that North NJ/Metro NYC was the case...south Jersey is very cheap, but it's also very rural, so there lies the rub.).

http://www.costoflivingbystate.org/cost-of-living-by-state.html

CT is ridiculous though...while you are envious that I don't have to fill my own tank of gas (:D)), you guys have to pay property taxes on your car....I learned that working in Greenwich....wow, I will never envy you. :)

A good deal of the Northeast (from New England to MidAtlantic) is terribly expensive. The South is pretty much where it is, but to move there pre-retirement means you gotta find a job that will equal the pay you got up here...a lateral move like that (or even a pay cut of $5k) will still have you come up ahead.

As I have said though, times really are getting rough. My sister and I spent some time at one of the local "rich man's mall" yesterday (a mall that having $1k in your pocket will make you seem like you're broke and the cars on displays are Aston Martins, Bentleys, stuff like that... :D) . The place was empty. On a saturday late afternoon. Places were closing at 7 instead of 9. I was a bit shocked but I am guessing retail must be taking a hit because of the economy.

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