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/biz/ - Business & Finance

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55130879 No.55130879 [Reply] [Original]

>See house for $1 million
>Think that if I have $1 million I could buy it and live there
>Also have to pay taxes for 100 different things
>Expenses like heating is also probably much more expensive for a big house
>Also need money for groceries and repairs

what is this scam? Playing the Sims didn't teach me this and i'm sure school didn't either or maybe I was sick that day or something

>> No.55130897

It just makes me angry and sad at the same time.

Same goes for cars. You buy an expensive car for $100k then it should not cost a penny more to drive it for at least a year. But no you need insurance, road tax, gasoline, repairs and so on so you end up paying way more.

It's unfair, a scam.

>> No.55130898
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55130898

>>55130879
>buy house for a million
>believe you now own it
>is suddenly not able to pay one of the 3 billion yearly different house/property taxes
>government takes your house force-sells it for 200k

>> No.55130902

>>55130879
that's why early retirement is a meme unless you're fabulously wealthy. modern life is designed to extract money from you just for existing. and god help you if you're ever sick.
>DUDE JUST LIVE IN A TENT IN THE WOODS LIKE THE UNABOMBER LMAO

>> No.55130924

>>55130879
>value of home goes up, didn't try to make this happen or even ask for it
>WHOA GOY NOT SO FAST I'M GONNA HAVE TO INCREASE YOUR PROPERTY TAXES BY 10%
>inflation goes up 10% per year
>WHOA GOY INFLATION ISN'T 10% IT'S ONLY 3%, NOW HERE'S YOUR COST OF LIVING RAISE
>drunk driver totals your car
>WHOA GOY THE FAIR MARKET VALUE IS ONLY ($5k less than the replacement value of an identical car) btw your rates are going up by 40% for the next 7 years

>> No.55130938

>>55130902
So what is this "passive income" I hear people talk about?

>> No.55131007
File: 510 KB, 888x560, sp-500-historical-annual-returns-2023-05-30-macrotrends.png [View same] [iqdb] [saucenao] [google]
55131007

>>55130938
unless you have millions of dollars, a meme parroted by mulattoe teenagers. even the s&p 500 is a meme because those "long run average returns of 7%" are LONG RUN AVERAGE and pre-tax at that. the market has plenty of years and consecutive years with low or negative returns. if you're utterly reliant on the markets for a passive income with "just barely enough" money, you're going to get wrecked.

>> No.55131297

>>55131007
oh ok