Ndaccountant
Old Hoss
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Without following the link you graciously provided, I can assure you that my spending has been reduced significantly already. I paid off the mortgage on my house nearly three years ago. That leaves me with sustenance and discretionary spending. I crunched the numbers shortly after I "purchased" my house. Over thirty years I'd have paid close to three times the price to account for interest. I paid it off in twenty-four saving a bunch o' bucks. My mortgage, through the years, was "owned" by at least four different businesses entities.
For all I know my obligation was bundled at some point into what eventually was part of the undoing of the real estate market. Ten to twelve years ago my house was valued at a price point that would have covered the purchase price, interest on the loan, insulation and the kitchen rehab. The addition of a garage, new roof, window replacement, new siding and additional insulation with a re-build of my front porch aren't even close to being covered in today's market.
Your point on FICA is dear to my heart. Attacks on the system, and my opposition to them during the Reagan administration, may well have contributed to my loss of a job. I was working at a Mutual Savings Bank and even taking classes with an MBA as a goal. A hippie goes main stream, I know.
At the time there were schemes afoot to circumvent Social Security (FICA) payments through some smoke-and-mirrors maneuvers. I advised against it. My In-laws depended on Social Security, that they'd paid into, for their livelihood. My father-in-law had been screwed out of a pension because the company he'd worked for forty years (and had changed ownership three or four times over those years) forced him to retire when he reached the mandatory age, two weeks before he was "vested" by the new management.
To shorten this tirade: I had no interest in niggling away at the funds that were relatively painless for me but allowed my wife's parents a roof and food on their plates. I had a number of "discussions" with some bank VP. She assured me (in 1982) that Social Security would be bankrupt in ten years. The bank's initial scheme was deemed illegal but subsequent "attacks" were successful. Had sources not been reduced or later raided, the whole system would not be stressed as it is today.
"The greatest of these is Charity."
That I can absolutely agree with.
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