- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Nearly Half of All US Families Have Zero Retirement Savings
Posted on 3/3/19 at 11:11 am to OleWarSkuleAlum
Posted on 3/3/19 at 11:11 am to OleWarSkuleAlum
quote:
No they are economically disadvantaged and don’t have access to the same tax advantaged retirement accounts.
In
Vanguard has Roth Accounts for everyone you moron.
Posted on 3/3/19 at 11:12 am to OleWarSkuleAlum
quote:
• Age 38 - 43: $4,200
I've got more in MTG cards than this amount...
And collectable coins
And I have 3 watches worth that much (well, the resell on my omega is probably half that)
...
Sheesh
Posted on 3/3/19 at 11:14 am to Hopeful Doc
quote:
: $1985.60. While I understand savings of $150 monthly aren't feasible for a fair amount of people,
My scotch habit is double that
Posted on 3/3/19 at 11:19 am to tigerbait3488
$150 x 2
Most companies match
No taxes withheld
The $150 will end up being less than $100
Most companies match
No taxes withheld
The $150 will end up being less than $100
This post was edited on 3/3/19 at 11:20 am
Posted on 3/3/19 at 11:19 am to OleWarSkuleAlum
I still have the $50 a local bank gave me about 25 years ago because I was the first customer to open a savings account with them. It has morphed into a portfolio of over half a million. I was a quick study of how to wisely save your money.
Posted on 3/3/19 at 11:20 am to OleWarSkuleAlum
quote:
The economically disadvantaged underclass in America doesn’t have computer or internet access. How are they are to access a brokerage to invest in VTSMX? Do tell? They sure as hell are not going to have the account minimum to even open the account.
The public libraries. Good lord, have you ever actually been poor or hung out with anyone who is poor? They would be insulted as hell with what you are insinuating.
Posted on 3/3/19 at 11:22 am to Homesick Tiger
quote:
I still have the $50 a local bank gave me about 25 years ago
You should have put it in their Christmas Club account.
Posted on 3/3/19 at 11:23 am to OleWarSkuleAlum
If the democrats get their way the percentage of American families with retirement savings will be zero.
They want to seize them all
They want to seize them all
Posted on 3/3/19 at 11:23 am to Jcorye1
quote:Once the Leftists explain to you that you should be thankful that you had enough to save in the first place and that other people need your property more than you need your own property you will feel much better about it.
I will be so unbelievably pissed if people get bailed out when I have skipped vacations and such to build up savings.
My advice is to arm yourself and prepare for the day that you have to defend yourself from your own government. That, and read Animal Farm by George Orwell.
This post was edited on 3/3/19 at 11:26 am
Posted on 3/3/19 at 11:25 am to SmackoverHawg
quote:
And I'll liquidate all my shite and haul arse before I even think I'm gonna have to give my shite to a bunch of assholes that didn't take care of their own business.
same here
Posted on 3/3/19 at 11:29 am to IceTiger
quote:
My scotch habit is double that
If you can afford retirement, kudos to you.
If you can't, cutting it by half is worth a lot in the long run.
Spend your money however the hell you want. Just don't expect me- a person who took two menial jobs without benefits after failing to get into medical school the first try, continued to work one of them part time through the first year of residency where I finally replaced it with two more part time jobs to feel bad about (the generic) you not saving enough for retirement when you (still generic) chose to spend your discretionary income on things not essential to survival.
Posted on 3/3/19 at 11:32 am to Zach
quote:
You should have put it in their Christmas Club account.
I remember those.
Posted on 3/3/19 at 11:35 am to OleWarSkuleAlum
quote:
UBI is coming faster than you expect.
How on God's Green Earth can we afford UBI for 330 million people?
That's TRILLIONS with a "T".
Posted on 3/3/19 at 11:35 am to OleWarSkuleAlum
quote:
Nearly Half of All US Families Have Zero Retirement Savings
quote:
the government will bail you out.
Government is, in large part, the culprit.
E.g., Social Security is a program forcing those same workers you're addressing to lend the US Government money at extremely low rates for 45 years. The government may or may not pay 1¢ of it back depending on when the lender's life ends.
Conservatively, the combination of SS and Medicare cost the median household about $500K in retirement savings after all benefits are paid out. But like the lib I was addressing, most of the Americans you're criticizing think Social Security is a great program. Just like they think they're being ripped off by not receiving big tax refunds this cycle.
Here is a post from a few days ago addressing a lib on the topic . . .
quote:
{Social Security} is a lending program . . .
But if you ever do actually get curious and run the numbers, you'll find the average predicted lifetime ROI for SS AND Medicare COMBINED for someone retiring today runs barely over 2%.
Meanwhile, the average government lending instrument (e.g., T-bills) during the same contribution period would have conservatively averaged about 4.5%. In the instance of a 4.5% ROI, residual savings at death after an equivalent benefit payout would exceed SS/Medicare by about $500K for median income Americans. That is half a million extra they could pass on to their kids.
Again, the calculations are based on standard government instrument rates. Market portfolio-based ROI would be much higher.
As you revel in wealth inequality discussions, let's frame it in those terms. SS/Medicare leaves the average household about $500,000.00 poorer than would otherwise be the case. SS/Medicare are sizable contributors to the wealth gap.
LINK
Posted on 3/3/19 at 11:35 am to OleWarSkuleAlum
Let me guess.
P. F. Chang has an answer.
P. F. Chang has an answer.
Posted on 3/3/19 at 11:37 am to OleWarSkuleAlum
quote:
The economically disadvantaged underclass in America doesn’t have computer or internet access.
95% of Americans have some sort of cellular device. 77% have smart phones.
Public library computer access can easily get us the rest of the way to 100%.
You sure are "Marxy" for a "conservative", baw.
Posted on 3/3/19 at 11:37 am to OleWarSkuleAlum
Most conservatives I know save first. I invest between 40-50% gross salary yearly (yes I did say gross salary).
Posted on 3/3/19 at 11:44 am to Tiger4Liberty
quote:Right. If people aren't responsible enough to save from their salaries-- why would the suddenly become responsible if we gave them UBI?
UBI is a certain way to ensure a permanent underclass.
Posted on 3/3/19 at 11:44 am to OleWarSkuleAlum
quote:
Age 44 - 49: $6,200
Ouch. I had that much at the end of 8th grade from mowing lawns and shite.
Posted on 3/3/19 at 11:45 am to Bear Is Dead
quote:
Just look around, even more affluent communities, people spend money like it’s on fire.
I recently spent about 2 years in a relatively affluent Southern community. For the area, my income was about the top 5 to 7 percentile (closer to the 7) - I lived in a middling house for the area (nice, but just like a hundred or so others in the development), and drove nice, but well used cars (the cars new were a combined $90k, but I generally buy used and paid about $60k combined) - EVERYBODY seemed to live higher than us. Newer/nicer cars, bigger homes, stuff you can't fake, right?
I'm talking nicer BMWs, Mercedes G-rides, Lexus SUVs were the staple vehicles and the "small" houses were 2500 square foot, $250k. Where in the hell does all this money come from? I get that it is borrowed, but it has to be paid back.
Popular
Back to top
Follow TigerDroppings for LSU Football News