Although I’ve said that overpaying for a car is the #1 wealth killer for the middle class, paying ever rising rent over the long run could actually be way worse.
Inflation is an unstoppable juggernaut that will smash your retirement dreams to smithereens if you aren’t on the right side.
This is potentially a massive problem, because our entire debt-fueled standard of living is dependent on foreigners lending us gigantic mountains of money at ultra-low interest rates. If foreigners keep dumping our debt and if Treasury yields keep climbing, a major financial implosion of historic proportions is absolutely guaranteed within the next four years. national debt is sitting at 19.944 trillion dollars.
government debt just got back to 5 percent, which would still be below the long-term average, we would be paying out about a trillion dollars a year just in interest on the national debt.
Any amounts over that second earnings threshold were taxed at the parent's highest marginal tax rate, which could be as high as 39.6 percent.While most of the country has been focused on the inauguration of Donald Trump, a very real crisis has been brewing behind the scenes. When you break that number down, it comes to more than a hundred million dollars every single hour of every single day while Obama was living in the White House. debt at a faster rate than we have ever seen before, and U. One of the most significant aspects of the “Obama legacy” is the appalling mountain of debt that he has left behind. During Obama’s eight years, a staggering 9.3 trillion dollars was added to the national debt.As for homeowners, few banks will lend beyond a 43% debt-to-gross income ratio (10% too high IMO).For example, if you pay ,000 a month for your mortgage and another 0 a month for an auto loan and 0 a month for student loans, your monthly debt payments are 00.