View Poll Results: If you were guaranteed a $25,000 income would you quit your job and stay unemployed?

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  • Yes

    17 13.71%
  • No

    90 72.58%
  • I don't have a job

    13 10.48%
  • I don't know

    4 3.23%
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Thread: Would you quit your job?

  1. #261
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    Re: Would you quit your job?

    Quote Originally Posted by Muhammed View Post
    If you were guaranteed a $25,000/year income by the government would you quit your job and stay unemployed?

    I know I wouldn't, how about you?
    That's not even half of what I make now. Wouldn't take scraps from them anyway as a simple matter of principal and pride.
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    Re: Would you quit your job?

    Quote Originally Posted by CaptainCourtesy View Post
    No, if you work you are employed. A check of $50 can be considered a paycheck and CAN be applied to your income tax return. Now we can keep going round and round about this, but I can tell you that I will not be altering my position. If you are in the same boat, it might be time to call it a draw.

    Nah. Not REALLY that important.

    No, those are the parameters. Anything additional goes beyond the parameters.

    Depends on the venue. As an INTJ I have no issue in engaging in conflict.

    Or, perhaps the responses had nothing to do with this, but with what I stated in my previous post. Interpretation became reversed.

    Somewhat, but it became more clear when people started responding.

    No, since the types of interpretation were reversed ideologically, this has nothing to do with whether DP is representative of GP.
    We are kind of repeating ourselves - I'm not ignoring you, but I figured I would let you have the last word.

  3. #263
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Because some people wouldn't be able to have anything if they didn't take out loans because the price of things is out of reach, especially homes and vehicles. Did you pay cash for your home?
    Like me for example.

    I recently purchased a car which will potentially last me for 5-10 years if I'm lucky.

    Without financing, I would have had to settle for a car that might have lasted me 2 years...or possibly less.
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  4. #264
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Because some people wouldn't be able to have anything if they didn't take out loans because the price of things is out of reach, especially homes and vehicles. Did you pay cash for your home?
    Home debt is not consumer debt - I can understand taking out a (shorter than typical) mortgage. We don't have one, when we do we will probably take out a 15 year and seek to pay it off in about 5-7. I'm open to the possibility of paying cash, but not sure if we would want to deploy enough to gain that ability. But cars, trips, etc? I buy with cash and I have since I was making enough to qualify for food stamps. If we were too poor to afford nice cars, we were sure as heck too poor to afford nice cars plus interest.

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    Re: Would you quit your job?

    Quote Originally Posted by cpwill View Post
    Home debt is not consumer debt - I can understand taking out a (shorter than typical) mortgage. We don't have one, when we do we will probably take out a 15 year and seek to pay it off in about 5-7. I'm open to the possibility of paying cash, but not sure if we would want to deploy enough to gain that ability. But cars, trips, etc? I buy with cash and I have since I was making enough to qualify for food stamps. If we were too poor to afford nice cars, we were sure as heck too poor to afford nice cars plus interest.
    Not many people can shell out more than $20,000 for a decent vehicle, and that's not even a "nice" car, just an average car.

  6. #266
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    Re: Would you quit your job?

    Oh, and the going rate for a home in my area is like $300,000, and that's for an average sized home too.

    Massachusetts home prices keep rising as demand continues to outstrip supply - Business - The Boston Globe'

    The median price for a single-family home in Massachusetts rose to $313,000 last month, nearly 14 percent higher than during April 2012 as increasingly eager buyers and a limited inventory of houses on the market combined to push up values, data released Wednesday show.

  7. #267
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Not many people can shell out more than $20,000 for a decent vehicle, and that's not even a "nice" car, just an average car.
    Dude if you are paying 20K for a car you better be getting a nice car. I'm about to pay out 3x more than I have ever paid for a vehicle, and I'm shelling out 15,000.


    Another point - new cars devalue by ~60-70% in the first three years. Buying brand new at current prices is also not fiscally wise for those with constrained budgets.

  8. #268
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Oh, and the going rate for a home in my area is like $300,000, and that's for an average sized home too.
    Yup. I'm not going to say that getting a mortgage per se is fiscally unwise (it can be if you get too much mortgage, or pay it off over 30 years, or get an adjustable rate). But if I were going to buy a 300,000 home, I would want to have minimum $60,000 downpayment, $20,000 emergency fund, no other debt, and an income high enough so that the rest of my monthly mortgage was about 25% of my take-home pay. 30ish%.... maybe. If it was a house in a good place likely to keep value and I really liked it. So I would need an income in my 80s.

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    Re: Would you quit your job?

    Quote Originally Posted by cpwill View Post
    Yup. I'm not going to say that getting a mortgage per se is fiscally unwise (it can be if you get too much mortgage, or pay it off over 30 years, or get an adjustable rate). But if I were going to buy a 300,000 home, I would want to have minimum $60,000 downpayment, $20,000 emergency fund, no other debt, and an income high enough so that the rest of my monthly mortgage was about 25% of my take-home pay. 30ish%.... maybe. If it was a house in a good place likely to keep value and I really liked it. So I would need an income in my 80s.
    Good, then you admit that you couldn't live here in Massachusetts as a home owner on only $25,000 a year income.

  10. #270
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    Re: Would you quit your job?

    Quote Originally Posted by ChrisL View Post
    Good, then you admit that you couldn't live here in Massachusetts as a home owner on only $25,000 a year income.
    I never claimed I could or could not live in Mass on 25K a year. Certainly I wouldn't be so foolish as to attempt to buy a $300K house on 25K a year unless I was basically buying it with cash. I imagine those living on 25K are probably not usually purchasing "median" homes.

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