How to achieve financial independence

How to achieve financial independence

There are 6 comments on the El Paso Times story from Sep 15, 2008, titled How to achieve financial independence. In it, El Paso Times reports that:

Business section Realistically, you'll probably never enjoy the life of the rich and famous, but you can achieve financial independence, experts say.

Join the discussion below, or Read more at El Paso Times.

Funny story

Las Cruces, NM

#1 Sep 15, 2008
Pretty funny. Under Bush and McCain,

the housing industry has collapsed (so I won't be able to sell my home when I retire),

Wall Street is collapsing (my 401K is hemorrhaging so I may not have any retirement),

oil companies are making record profits while Americans pay record prices (making it hard to drive to work),

and I've paid more income tax each year since 2000 (thanks to Bush and McCain's tax cuts for the super rich).

But according to the EP Times, if I take the money the tooth fairy leaves me under my pillow and put it in my piggy bank things will be fine...

which is why I would NEVER pay good money for a copy of this newspaper.
Kramer

Juárez, Mexico

#3 Sep 15, 2008
Funny story wrote:
Pretty funny. Under Bush and McCain,
the housing industry has collapsed (so I won't be able to sell my home when I retire),
Wall Street is collapsing (my 401K is hemorrhaging so I may not have any retirement),
oil companies are making record profits while Americans pay record prices (making it hard to drive to work),
and I've paid more income tax each year since 2000 (thanks to Bush and McCain's tax cuts for the super rich).
But according to the EP Times, if I take the money the tooth fairy leaves me under my pillow and put it in my piggy bank things will be fine...
which is why I would NEVER pay good money for a copy of this newspaper.
BUYAAAA! Yup many industries are collapsing and realistically the economy won't have the same bullish growth as a few years ago given that most, if not all banks are burned and will have to stricten credit criteria (which was the main economic engine).

There will be people wanting/needing homes, cars, clothes, etc the real question is who will qualify for credit nowadays and who will still have a job.
Economics - 101

El Paso, TX

#5 Sep 15, 2008
Taxpayer wrote:
<quoted text>
Bush did a lot of bad things and I blame him for a lot but I have a hard time blaming him for the housing crisis. It was greedy, unrealistic consumers who got themselves into homes they could not afford. One bump in the road and the whole house of cards collapses because people are living too close to the edge.
Yes I know there were bad lenders out there but people were all too willing to be convinced that they deserve that big house with the 3 car garage. What ever happened to personal responsibility.
Why can't you sell your house? Did you buy more than YOU could afford and then use your equity to finance that trip to Bora Bora?
And as far as blaming McCain, that is pretty liberal of you. Remember a democaratic congress presided over the housing collapse (not that I blame congress for this either). And if you want to pay more in taxes, go ahead and vote for Obama bin Biden, he has already promised increased taxes (and not just for the 'super rich'). Taxes have historically skyrocketed when a democratic president coincides with a democratic congress. But, hey, if you want all your hard-earned money to go to more handouts for the lazy and the stupid, I guess I can't stop you.
And finally, I'm not an economist but I do know that taxing the heck out of the profitable industrues (ie the super rich) is not the way to pull yourself out of an economic downturn (or revitalize your 401K).
stupid banks lending to people with no money.

stupid people borrowing to buy house they can't afford.
jose luis

United States

#6 Sep 15, 2008
you think? i had no idea this is what i needed to achieve financial independence. thanks david. what would i do without the El Paso Times and it's great staff of investigators/reporters telling me things I would never figure out.

on a side note, i don't think Bush had anything to do with folks buying houses/cars they can't afford and giving in to their spoiled kids' requests. not that i'm saying he hasn't made bad decisions. i'm just saying individuals have made their own beds....
Kramer

Juárez, Mexico

#7 Sep 15, 2008
Economics - 101 wrote:
<quoted text>
stupid banks lending to people with no money.
stupid people borrowing to buy house they can't afford.
Stupid? Not likely, the top level execs knew exactly what they were getting into, they just did it for the commissions & short term quick profits by cookin' the books ala Enron.

You really think all those banks with that many smart people on Wall St didn't know what was going on? C'mon!

The problem is that after this who will qualify under the new credit/lending standards? BUYAAA!
Dacy

London, UK

#8 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( http://goo.gl/44kQUQ ) too my friends and family.

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