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Started By
Message
re: The Percentage of Americans With Less Than $1,000 in Savings Is Shocking
Posted on 12/20/19 at 7:51 am to Hoops
Posted on 12/20/19 at 7:51 am to Hoops
quote:
He’s a pure troll on other boards so I’m sure he is here too.
? I'm in favor of Ubi just Like Cuban or Elon musk. plenty of ppl support it
and these are much smarter ppl than you ever dreamed of being dude.
This post was edited on 12/20/19 at 7:52 am
3
Posted on 12/20/19 at 7:51 am to Will Cover
If you don't count my retirement accounts, I currently have less than $1k in savings...
We had to use our savings to pay for some unexpected medical costs.
Luckily my annual bonus is coming in January and we will use that to replenish our savings account, but man, these last 2 months have caused me anxiety just knowing that another large unexpected expense would make us have to go into credit card debt.
I don't know how people live like this all the time.
We had to use our savings to pay for some unexpected medical costs.
Luckily my annual bonus is coming in January and we will use that to replenish our savings account, but man, these last 2 months have caused me anxiety just knowing that another large unexpected expense would make us have to go into credit card debt.
I don't know how people live like this all the time.
Posted on 12/20/19 at 7:54 am to Will Cover
quote:
Meanwhile, 20% point to a high cost of living as the reason their bank accounts are in such a sorry state.
Problem is here. High cost of living is used incorrectly. IMO Cost of living should be the bare minimum needed to live. People now a days equate cost of living with things like Gig Fiber internet, streaming services, new phones, unlimited data. new car, an amazon prime account and spending 300 a month eating brunch and having uber eats bring you food.
I probably live more pay check to pay check then i should. (i still have an emergency fund set aside and a vacation fund) but i also dont act/feel like im poor and broke and living "paycheck to paycheck" because i know if needed i could trim a bunch of fat that im currently ok with paying for.
One thing i heard once that made alot of sense because i see it first hand a lot is that younger adults these days want to live the same lifestyle their parents are living and that they got to live while growing up.
Issue is that the parents have worked hard for 30 years to get there over time while the new generation of adults expects it instantly.
Posted on 12/20/19 at 7:54 am to Will Cover
Does employer contributed retirement accounts and supplemental retirement account factor in this? Or is it strictly having $1000 liquid in an account ?
This post was edited on 12/20/19 at 7:55 am
Posted on 12/20/19 at 7:54 am to Mr Perfect
Why don’t you tell me instead?
Let me be clear here, I don’t care what kind of pretty bow this Andrew Yang communist tries tie “Universal Basic Income” with, there is no such thing as free money.
I’ll tell you what it sounds an awful lot like though:
Let me be clear here, I don’t care what kind of pretty bow this Andrew Yang communist tries tie “Universal Basic Income” with, there is no such thing as free money.
I’ll tell you what it sounds an awful lot like though:
This post was edited on 12/20/19 at 7:58 am
Posted on 12/20/19 at 7:55 am to Mr Perfect
quote:
? I'm in favor of Ubi just Like Cuban or Elon musk. plenty of ppl support it
and these are much smarter ppl than you ever dreamed of being dude.
That’s great, where’s the money coming from?
Posted on 12/20/19 at 7:56 am to TigerFanInSouthland
I don’t support him or any other Democrat but I wouldn’t call Andrew Yang a communist. That makes zero sense
Posted on 12/20/19 at 7:56 am to Salmon
quote:
but man, these last 2 months have caused me anxiety just knowing that another large unexpected expense would make us have to go into credit card debt.
a pair of scissors would help solve that potential problem.
we factor in a provision for unexpected health expenses over and above insurance coverage thru an HSA and it has been one of the smartest things I’ve ever done
Posted on 12/20/19 at 7:57 am to GatorReb
Nailed it. I see a lot of younger folk wanting that “dream home” right off the bat. Instant gratification man. Yuuge debt.
Posted on 12/20/19 at 7:58 am to High C
quote:
What are they calling “savings”? Old bank passbook savings accounts are obsolete.
I agree. 401ks, IRAs, life insurance, lines of credit are the new savings accounts.
Do I have a grand sitting in my bank without a bill attached to it? No.
Could I get a grand in 24hrs if I needed, sure. Got a 20k line of credit whenever I need it.
ETA: phrasing- I’m talking about borrowing from my 401k.
This post was edited on 12/20/19 at 8:31 am
Posted on 12/20/19 at 7:59 am to TigerFanInSouthland
quote:
where’s the money coming from?
I'm not going to type out 20 paragraphs when you can watch a five minute YouTube video which explains it all.
research. read. education. very simple things we can all do to help ourselves
Posted on 12/20/19 at 7:59 am to cgrand
quote:
a pair of scissors would help solve that potential problem.
Dumb.
quote:
we factor in a provision for unexpected health expenses over and above insurance coverage thru an HSA and it has been one of the smartest things I’ve ever done
Yeah. We do too.
Except we blew through our HSA funds the year before with another unexpected medical bill.
The last 2 years have hit us hard when it comes to medical expenses.
Posted on 12/20/19 at 8:00 am to alajones
quote:
Got a 20k line of credit whenever I need it.
that is not an asset on your balance sheet man.
anyone with an ID and a paycheck stub can borrow 20 grand.
Posted on 12/20/19 at 8:01 am to Mr Perfect
Why would it take 20 paragraphs to explain that taxpayers are going to pay for it?
Posted on 12/20/19 at 8:03 am to alajones
quote:
lines of credit are the new savings accounts.
Debt is the new savings account. That explains a lot
Posted on 12/20/19 at 8:03 am to Bham Bammer
right but at least tax payers get $1k back per month.
or do you just prefer giving out social welfare to poors and not seeing a dime? please think dude
MATH: Make America Think Harder
I wear this hat everywhere
or do you just prefer giving out social welfare to poors and not seeing a dime? please think dude
MATH: Make America Think Harder
I wear this hat everywhere
This post was edited on 12/20/19 at 8:06 am
Posted on 12/20/19 at 8:04 am to Mr Perfect
quote:
I'm not going to type out 20 paragraphs when you can watch a five minute YouTube video which explains it all.
research. read. education. very simple things we can all do to help ourselves
Seems like it’d be an easy answer. Where’s this $12K/year for each person over 18 going to come from?
Where’s this roughly $3,000,000,000,000 going to come from each year?
Posted on 12/20/19 at 8:05 am to Salmon
You’ll get ahead sooner than later. I know the feeling, trust me. I got laid off the first time in 1988, In Laffy. Wife stay at home, two kids, house note, geologist with no prospects of a new job and pulled up stakes and moved to where I could get a job.
Not a pot to piss in or a window to throw it out of. Took a couple years, got back on our feet and didn’t look back. You do the same in different situations, hunker down and dig out.
Not a pot to piss in or a window to throw it out of. Took a couple years, got back on our feet and didn’t look back. You do the same in different situations, hunker down and dig out.
Posted on 12/20/19 at 8:05 am to Salmon
quote:
these last 2 months have caused me anxiety just knowing that another large unexpected expense would make us have to go into credit card debt.
I don't know how people live like this all the time.
Just open a 12-15 month 0% credit card.. problem solved. Having tons of cash socked away in a savings account, or having an emergency fund, is overrated.
Yes, a lot of people do need emergency funds. Most people in fact.. But if you are financially savvy, disciplined, and make just semi-decent money, you can just open a 0% card, cut back on your other regular investments, and then just pay the card off over the course of a year.
Posted on 12/20/19 at 8:05 am to TigerFanInSouthland
quote:
Where’s this roughly $3,000,000,000,000 going to come from each year?
YouTube. do you know how to access it?
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