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If I had to give advice to a young person in the u.s. now it would be to not act responsibly when it comes to their finances because the government will bail yo

If I had to give advice to a young person in the u.s. now it would be to not act responsibly when it comes to their finances because the government will bail you out. I was responsible but it's put me at a disadvantage. I would have been better off buying a home that I couldn't afford with no downpayment, and once the market adjusted using this government bailout to adjust the mortgage. I no longer live in the u.s. though and am much happier to be someplace where it's impossible to act irresponsible in that way due to minimum standards with the banks.

chair92 11y ago
What country do you live in where it is impossible to make a mistake and then get societal help to recover? Truly the US hasn't been the same since the government paid off all overly large student loans, irresponsibly spent credit card balances, desperately sought payday loans, and other avoidable, life-destroying debt. And since all of that debt has been canceled, I'm looking for a more responsible place to live. I'm just glad that US banks don't allow truly predatory acts, such as the use of a pension as the down payment for a house, so that a borrower who defaults loses far more than their home. That sort of behavior is legal in some uncivilized regimes because it allows lenders to make bad loans without suffering any negative recourse; but fortunately it is not legal in the US.
- comrade1 11y ago
  Switzerland
  - chair92 11y ago
    Enjoy your wealth tax, your compulsory social insurance, your common second pillar insurance, your strict immigration controls, your smug and utterly false belief that the US bails out everything, Switzerland bails out nothing, and your similarly baseless belief that this is ultimately beneficial. I really and truly do wish that more "people" like you would leave the country. Thank you for having the backbone to leave. As an American, I'm INCREDIBLY glad that you're no longer here. Sadly, you probably still keep your US passport, because that's super-valuable, and you're an enormous hypocrite. Am I right? Also, it's worth noting that if you ever gain Swiss Citizenship (you won't, but whatever), are aged or invalid and don't have money, you'll get free money from the Swiss government. So if your life goes sideways and you're an enormous hypocrite, you'll be able to get some help.
    - youngpartition 11y ago
      Ha ha ha why have you quoted "people"? Do you disagree with the term or not think he's a person because he has different political opinions to you? Ha ha ha lunatic
    - comrade1 11y ago
      In order to keep things on topic I'll ignore most of what you wrote and just talk about purchasing housing here. My wife and I just bought an apartment in Zürich and found it very different than the u.s. One must put down a minimum of 20% always, but we ended up having to put down 30% because the bank calculates your payments on a much higher interest rate than reality as well as higher maintenance fees than reality. We also had to have life insurance.
      - chair92 11y ago
        You have a very convenient definition of on-topic. You've narrowed the scope from 'americans should be financially irresponsible because the government will always bail them out' to 'I had to put 20% down on my house'. It's almost funny. It probably would be funny, except that I'm now in a bad mood because some other poster just compared me to a rapist for defending advertising, so I can't laugh at what an incredibly dishonest piece of shit you are. And make no mistake, that sort of goalpost moving is just dishonesty... it's just you admitting that you're a fucking liar. Also, if you were a Swiss Citizen, you would be able to play the game by betting your pension against the house, instead of using cash. The cash requirement exists for you because you are an outsider and thus less trustworthy.
        comrade1 11y ago
        The news article and my comments are about purchasing housing. And we have permanent residence and are able to use our pensions but chose not to, other than pillar 3 which one does to get a tax advantage. Most people only use pillar 3 since the bank discourages using pillar 2. (basically, you funnel money through pillar 3 to the bank and get the tax break) Saving taxes in Switzerland doesn't help us much though since we have to pay the difference to the u.s. I think you may want to take a deep breath and go outside for awhile.
hluska 11y ago
And you would be giving young people exceptionally bad advice...financial responsibility teaches so many things beyond money.

chair92 11y ago

What country do you live in where it is impossible to make a mistake and then get societal help to recover? Truly the US hasn't been the same since the government paid off all overly large student loans, irresponsibly spent credit card balances, desperately sought payday loans, and other avoidable, life-destroying debt. And since all of that debt has been canceled, I'm looking for a more responsible place to live. I'm just glad that US banks don't allow truly predatory acts, such as the use of a pension as the down payment for a house, so that a borrower who defaults loses far more than their home. That sort of behavior is legal in some uncivilized regimes because it allows lenders to make bad loans without suffering any negative recourse; but fortunately it is not legal in the US.

comrade1 11y ago
Switzerland
- chair92 11y ago
  Enjoy your wealth tax, your compulsory social insurance, your common second pillar insurance, your strict immigration controls, your smug and utterly false belief that the US bails out everything, Switzerland bails out nothing, and your similarly baseless belief that this is ultimately beneficial. I really and truly do wish that more "people" like you would leave the country. Thank you for having the backbone to leave. As an American, I'm INCREDIBLY glad that you're no longer here. Sadly, you probably still keep your US passport, because that's super-valuable, and you're an enormous hypocrite. Am I right? Also, it's worth noting that if you ever gain Swiss Citizenship (you won't, but whatever), are aged or invalid and don't have money, you'll get free money from the Swiss government. So if your life goes sideways and you're an enormous hypocrite, you'll be able to get some help.
  - youngpartition 11y ago
    Ha ha ha why have you quoted "people"? Do you disagree with the term or not think he's a person because he has different political opinions to you? Ha ha ha lunatic
  - comrade1 11y ago
    In order to keep things on topic I'll ignore most of what you wrote and just talk about purchasing housing here. My wife and I just bought an apartment in Zürich and found it very different than the u.s. One must put down a minimum of 20% always, but we ended up having to put down 30% because the bank calculates your payments on a much higher interest rate than reality as well as higher maintenance fees than reality. We also had to have life insurance.
    - chair92 11y ago
      You have a very convenient definition of on-topic. You've narrowed the scope from 'americans should be financially irresponsible because the government will always bail them out' to 'I had to put 20% down on my house'. It's almost funny. It probably would be funny, except that I'm now in a bad mood because some other poster just compared me to a rapist for defending advertising, so I can't laugh at what an incredibly dishonest piece of shit you are. And make no mistake, that sort of goalpost moving is just dishonesty... it's just you admitting that you're a fucking liar. Also, if you were a Swiss Citizen, you would be able to play the game by betting your pension against the house, instead of using cash. The cash requirement exists for you because you are an outsider and thus less trustworthy.
      - comrade1 11y ago
        The news article and my comments are about purchasing housing. And we have permanent residence and are able to use our pensions but chose not to, other than pillar 3 which one does to get a tax advantage. Most people only use pillar 3 since the bank discourages using pillar 2. (basically, you funnel money through pillar 3 to the bank and get the tax break) Saving taxes in Switzerland doesn't help us much though since we have to pay the difference to the u.s. I think you may want to take a deep breath and go outside for awhile.

hluska 11y ago

And you would be giving young people exceptionally bad advice...financial responsibility teaches so many things beyond money.