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Member 1139
Level 18.35
Mar 2006
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Nov 26, 2006, 07:33 PM
Local time: Nov 26, 2006, 04:33 PM
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#1 of 38
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What determines wealth isn't necessarily just how much money you have from your income.
It's income versus expenditures, debt to asset ratio and buying power (available credit).
Alot of people in Southern California have middle of the road incomes, but have a rather healthy debt to asset ratio (if they purchased a home in the last 10 to 15 years) and mediocre buying power.
I have a steady income that makes me self-sufficient, but there's not much room for savings. I've also got a negative debt to asset ratio. I'm technically below the poverty line, but I don't feel that because I have a cushion (being that I am in the military). I would be in poor shape if I was a civilian, right now.
Jam it back in, in the dark.
Posting without content since 2002.
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Duo Maxwell