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re: Nearly Half of All US Families Have Zero Retirement Savings
Posted on 3/3/19 at 6:48 pm to redneck hippie
Posted on 3/3/19 at 6:48 pm to redneck hippie
It is but I've sacrificed a lot to get where I'm at. I haven't just pissed money away. My first house I paid very little. Total remodel by myself and wife. Sold for a hell of a profit. Pretty much built my next one myself. Have taken limited vacations. I have a vested interest in keeping what I've worked for.
1
Posted on 3/3/19 at 7:17 pm to OleWarSkuleAlum
Do you believe the lower income tax returns this year was a contributing factor? The fake news associations seemed to give that impression.
Posted on 3/3/19 at 7:32 pm to OleWarSkuleAlum
quote:
No they are economically disadvantaged and don’t have access to the same tax advantaged retirement accounts.
There is nothing keeping them from opening a retirement account
Posted on 3/3/19 at 7:33 pm to Parmen
quote:
fricking boomers aren’t retiring and moving on, preventing Gen X and Millennials from moving up to better positions. No wonder you have Millennials wanting free stuff
Because Boomers didn’t save enough money to retire.
Posted on 3/3/19 at 9:07 pm to lgh
quote:"You didn't build that."
It is but I've sacrificed a lot to get where I'm at. I haven't just pissed money away. My first house I paid very little. Total remodel by myself and wife. Sold for a hell of a profit. Pretty much built my next one myself. Have taken limited vacations. I have a vested interest in keeping what I've worked for.
Posted on 3/3/19 at 11:08 pm to OleWarSkuleAlum
quote:
They do not have access to investing tools such as an S&P 500 index
That and just about any other type of investing information the average person could possibly use is available for free at public libraries along with internet access.
This post was edited on 3/4/19 at 1:05 am
Posted on 3/3/19 at 11:21 pm to EA6B
quote:
UBI is coming faster than you expect.
Make sure it comes with a brain transplant otherwise poors won't save a dime of that money.
Posted on 3/4/19 at 3:00 am to OleWarSkuleAlum
quote:
quote:
No big deal as posted yesterday: "Nearly 45 million U.S. households will hand down about $68.4 trillion over the course of the next quarter-decade, according to research and consulting firm Cerulli Associates, a phenomenon known as the “great wealth transfer.”
The parents are doing the saving for the kids and grand kids.
This is great for white elites. Should be a much more substantial estate tax than the current version.
You have a severe envy problem.
But for real, I'll take my UBI monthly payment.
Instead of giving me money, just allow me to keep that amount in taxes each pay period.
Posted on 3/4/19 at 6:03 am to SDVTiger
quote:
Thanks Barry
Barry caused people to live beyond their means and spend more money paying down debt than setting aside for retirement?
Posted on 3/4/19 at 7:12 am to steadytiger
quote:
Not in all cases, but people in the lower economic realm are poor planners. In most cases, it is why they are in that realm.
I'm living in a duplex right now, my neighbor came to me and said " I'm getting a $30k check cut to me from my retirement funds from an old job and was wondering if you would help me find a good car with that money". I told her, no, you need to put that in a Roth IRA and let it grow for your retirement. That ended the discussion, she showed up a week later in a Ford Explorer and blew the whole wad.
She always votes democrat (she's black and hates Trump) and she will be one of the people that will cry about the government taking care of her. Personal responsibility and providing (saving) for your future is not in her vocabulary.
This is the mentality we have to deal with in this country. People don't want to work, they don't want to save and they LOVE spending other peoples money as if it's some "free" piggy bank.
This post was edited on 3/4/19 at 7:16 am
Posted on 3/4/19 at 7:18 am to Walkthedawg
quote:
This is the mentality we have to deal with in this country.
quote:
“There’s scientific consensus that the lives of children are going to be very difficult. And it does lead young people to have a legitimate question: Is it OK to still have children?”
Posted on 3/4/19 at 7:33 am to Crimson Wraith
Chose my career path, to include a pension. Didn't get rich but didn't expect to. Have saved along the way. Can totally retire today but choose not to...having too much fun in totally unrelated career path with the pension.
Posted on 3/4/19 at 7:44 am to Walkthedawg
quote:Median Household Income in 2016 = $60,421
People don't want to work, they don't want to save and they LOVE spending other peoples money as if it's some "free" piggy bank.
Median Household Income in 1976 = $12,690
$12,690 in 1976 = $53,527 in 2016.
In other words, in real inflation-adjusted dollars, Median Household Income in 2016 was 13% higher than it was 40 years ago.
So current Real Median Household Income is 113% of what it was during the oft-cited "Golden Age of the Middle Class.
Real Median Household Income is 113% of what it was during the oft-cited era of 70% tax brackets.
Yet the OP, MSM, and Dems contend "the middle class is getting crushed."
Posted on 3/4/19 at 9:49 am to NC_Tigah
quote:
Yet the OP, MSM, and Dems contend "the middle class is getting crushed."
WE all know that the "truth" is whatever the dems and media says it is that particular day.
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