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08-11-2006, 03:53 PM
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#1
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,231
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Where is that link???
OK, I have someone at work who want to continue to spend... but, I can see a bit of hope if he gets some education...
I have seen a numbe of times someone post a link showing a scale of where someone should be at various ages with savings level, debt levels etc... can someone find it for me?? I have looked a lot and can not find...
Thanks..
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Re: Where is that link???
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08-11-2006, 04:23 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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Re: Where is that link???
Original article on Personal Finance Ratios by Charles J. Farrell:
http://www.fpanet.org/journal/articl...p0106-art6.cfm
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Re: Where is that link???
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08-11-2006, 10:09 PM
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#3
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,231
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Re: Where is that link???
THANKS.... exactly what I was looking for... I hope it will help the guy...
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Re: Where is that link???
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08-13-2006, 08:56 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
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Re: Where is that link???
 Quote:
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Originally Posted by LOL!
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Do you feel that table 1 is realistic?* Especially about the Debt Ratio for 30 and 35 year old?* With the exception of a few low housing cost cities (Houston, for example), how can a 30 year old purchase a house and still maintain 1.70 debt ratio 
A 4.0 ratio would be more likely in this housing market.
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Re: Where is that link???
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08-13-2006, 09:13 AM
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#5
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,231
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Re: Where is that link???
Sam,
Interesting question... but, the guy I want it for IS in Houston....
But, I will answer your question.... YES, it is realistic. Going into a 4X debt because of a housing bubble is like saying the whole stock market should change its PE because we are in a 'new economy'... look what that did back in 2000...
These ratios are are a guideline, but they come from a good basis for future well being..
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Re: Where is that link???
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08-13-2006, 09:46 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
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Re: Where is that link???
Quote:
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Originally Posted by Texas Proud
But, I will answer your question.... YES, it is realistic.* Going into a 4X debt because of a housing bubble is like saying the whole stock market should change its PE because we are in a 'new economy'... look what that did back in 2000...
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TexasProud,
I personally would never get into a 4x ratio for a house.* But that's because I have a choice.
What would you do if you're 30 to 35 years old, making 50 to 75K a year, and living in Boston, Orange County, West Palm Beach, etc...?
I personally would move if possible, but it's not always possible (family, job).* Now what?
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Re: Where is that link???
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08-13-2006, 02:35 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2005
Posts: 17,231
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Re: Where is that link???
Quote:
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Originally Posted by Sam
TexasProud,
I personally would never get into a 4x ratio for a house.* But that's because I have a choice.
What would you do if you're 30 to 35 years old, making 50 to 75K a year, and living in Boston, Orange County, West Palm Beach, etc...?
I personally would move if possible, but it's not always possible (family, job).* Now what?
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Rent... buy a small place... or like you said.. move
There also is the 'let's commute' mentality... I know people that worked in NY that lived way down in the state of NJ... some even in Penn.. or way out on Long Island so they could afford a house...
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