Spinrad/ Global Academy

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Presentation transcript:

Spinrad/ Global Academy Economic Choices Spinrad/ Global Academy

High school prepares you for post-graduate study It doesn’t prepare you for a middle-class career unless you pursue post-graduate training The trades Technology/STEM Military University

What is middle-class? The median household income in the Bay Area is $76,000 (2010 Census data) That is equivalent to $38/hour That is not enough money to buy a house in Marin County.

Hopefully you will enjoy your career The work is fulfilling It pays enough What’s the next step? housing career education

Housing You have to live somewhere If you buy a house you may pay less than renting A fixed mortgage never increases; eventually you own it The US government pays you to buy a house Booms and busts awaken opportunities Houses appreciate at the rate of inflation

Negatives for owning a house Repairs and upkeep Property taxes, typically 1.5% Liability Credit problems if you walk away

Saving for problems and retirement Good to have a few months income in case of loss of job or other problems Take employers retirement benefits so you don’t have to work when you’re in your 70s IRA/401K/403B plans give tax benefits Buy assets, not liabilities