The American Dream..... Spend it as fast (and some faster) then they make it.....

I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

Then i wonder if they are saving anything for retirement...

This article is just more proof that most must not be...

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Posted by Brummy

Central, LA

Member since Oct 2009

4526 posts

Posted on 3/6/18 at 3:39 pm to tigeraddict

quote:
I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

Then i wonder if they are saving anything for retirement

Same, and social media makes it worse, putting all those new shiny things out there for all to see and spurring the need for people to keep up with the Joneses.

What bothers me is that with the retirement crisis looming and the government's past history of bailing out people/corporations from their poor decisions, am I going to look back and think that I was the sucker for saving responsibly and not opting for instant gratification?

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Posted by anc

Member since Nov 2012

18213 posts

Posted on 3/6/18 at 8:03 pm to tigeraddict

quote:
I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

A friend of mine that confided in me that he had to put Christmas on credit cards told me last week he was taking off spring break and taking his family to Breckenridge.

I have no idea how they are doing it.

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Posted by YoungManOldMan

Member since Dec 2017

1882 posts

Posted on 3/7/18 at 10:50 am to tigeraddict

quote:
Then i wonder if they are saving anything for retirement...

This article is just more proof that most must not be...

People don't save. I told the wife before we got married, "You will not get everything you want right away." We are taking incremental steps to save for retirement. We max 1 and will probably start maxing 2 by summer. Some of you might be true ballers but we are confident if we do that on top of our pensions, we will have everything we want/need 30 years from now at retirement.

The retirement age has also broadened. It's no longer 58. I find it'd pushing 70 for many people.

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Posted by StringedInstruments

Member since Oct 2013

18574 posts

Posted on 3/9/18 at 7:15 am to tigeraddict

quote:

I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

I wonder this as well.

My wife works with a lady who is always complaining about teacher salaries and talking about money issues. She and her husband are teachers and they have two kids in elementary school.

With their degrees and experience, they're making at least a combined $112k/year.

They live in a modest house with some land in a distant suburb of Birmingham. I assume they're pulling in ~$6500/month after taxes and insurance. What the hell could they be struggling with unless they're just spending all of their money on extraneous toys and experiences?

This post was edited on 3/9/18 at 7:18 am

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Posted by igoringa

South Mississippi

Member since Jun 2007

11877 posts

Posted on 3/9/18 at 8:04 am to tigeraddict

quote:
Then i wonder if they are saving anything for retirement...

Not to get political but that is the culture you get when you install massive social programs that transfer trillions of dollars a year.

You don't save and take care of yourself... guess what - society will still take care of most of it for you. There is no fear. That is why the safety net is more like a spider web

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