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Started By
Message
re: 1 in 3 Americans have less than $5,000 saved for retirement
Posted on 8/27/18 at 12:42 pm to Upperdecker
Posted on 8/27/18 at 12:42 pm to Upperdecker
quote:
where the middle class and the poor have it a lot more difficult
The poor in America still have 50" tvs, $800 smartphones, weigh 300lbs...
Being poor in America is 1000x better than being poor anywhere else in the world.
1
Posted on 8/27/18 at 12:42 pm to adamb2151
quote:
Or put a major dent in it. Harvey wiped out all my savings and a little of my 401k.
Presuming your damage was flood related...do you even flood insurance bro? A preferred risk flood policy would have cost you $450 a year for $250k building and $100k contents coverage. Or did you fall for the bank’s “ you don't need flood insurance as a condition of your loan because your house is not in a flood zone”?
This post was edited on 8/27/18 at 12:43 pm
Posted on 8/27/18 at 12:44 pm to Darth_Vader
Just wait. They will come after what you have saved.
Posted on 8/27/18 at 12:45 pm to Sun God
It's not as important how much you put is as it is about how soon you start putting it in. Compounding interest is your a powerful thing.
Posted on 8/27/18 at 12:45 pm to LuckyTiger
quote:
We already have a democrat senator who is a leading voice in politics and could be her party’s nominee for president saying to business owners “You didn’t earn that!”
So?
Income tax increases and raiding 401(k)s play well to the extremists, but they're completely impractical and not remotely on the horizon.
This post was edited on 8/27/18 at 12:46 pm
Posted on 8/27/18 at 12:47 pm to Tigerlaff
quote:
just wait. They will come after what you have saved.
When their starts to be grumbling of this, you liquidate, buy gold, get a safe, hide it on a piece of property.
Posted on 8/27/18 at 12:47 pm to Covingtontiger77
quote:
Presuming your damage was flood related...do you even flood insurance bro? A preferred risk flood policy would have cost you $450 a year for $250k building and $100k contents coverage. Or did you fall for the bank’s “ you don't need flood insurance as a condition of your loan because your house is not in a flood zone”?
Flood insurance hasnt paid because of the flooding being caused by resevoir being released. I am involved in litigation that will not be resolved for years.
Posted on 8/27/18 at 12:48 pm to Darth_Vader
quote:
a third of Americans have only a few thousand dollars, or less, put away for their golden years.
not even surprised
Posted on 8/27/18 at 12:49 pm to Paul Allen
Yes let’s put in government price controls on houses. I’m sure that will work out just fine.
Posted on 8/27/18 at 12:51 pm to adamb2151
quote:
Flood insurance hasnt paid because of the flooding being caused by resevoir being released. I am involved in litigation that will not be resolved for years.
If you would please link me to some story regarding this issue.
Homeowner with flood insurance who s claims are not paid because NFIP has taken the position that reservoir release was not “flood”
Posted on 8/27/18 at 12:52 pm to slackster
quote:
•One in three Baby Boomers (33%), the generation closest to retirement age, only have between $0-$25,000 in retirement savings
That is insane and incredibly irresponsible.
Posted on 8/27/18 at 12:54 pm to adamb2151
quote:
Flood insurance hasnt paid because of the flooding being caused by resevoir being released. I am involved in litigation that will not be resolved for years.
Wow. I would literally lose my shite. Like, I would go absolute apeshit.
Posted on 8/27/18 at 12:55 pm to GetCocky11
Boomers on average are incredibly irresponsible and entitled leeches so that's nit really surprising.
Posted on 8/27/18 at 12:56 pm to Darth_Vader
I know plenty of people who fit the bill. Some are business owners who reinvest all their cash into the business, some are artists or musicians or photographers living paycheck to paycheck until they can get steady income. They’re not all social leaches, they just don’t have the luxury to save yet.
Posted on 8/27/18 at 12:56 pm to RogerTheShrubber
quote:
Dysfunctional people are taking over the country.
They certainly are.
Posted on 8/27/18 at 1:00 pm to jbgleason
quote:
the politicians will capitalize on this sizable voting block by pandering to them and making those of us who saved wisely pay for the others
This is why, when I hit the minimum age to withdraw from my 401 without penalty, I'm going to empty it as quickly as I can. I might be able to beat the government at looting my own accounts.
Not counting on getting any of my own money back from social security, which is robbery enough.
Posted on 8/27/18 at 1:00 pm to Peazey
Not sure a man that chooses to do the most difficult job in the world for free since he doesn't need the money is a good example of dysfunctional in the context of this thread.
Posted on 8/27/18 at 1:00 pm to Celery
quote:
I know plenty of people who fit the bill. Some are business owners who reinvest all their cash into the business, some are artists or musicians or photographers living paycheck to paycheck until they can get steady income. They’re not all social leaches, they just don’t have the luxury to save yet.
I can for sure tell you I have a good bit more than the $5k saved and at 30 I am still worried I won't have enough when it comes time to retire.
Posted on 8/27/18 at 1:00 pm to Celery
quote:
I know plenty of people who fit the bill. Some are business owners who reinvest all their cash into the business, some are artists or musicians or photographers living paycheck to paycheck until they can get steady income. They’re not all social leaches, they just don’t have the luxury to save yet.
The youngest baby boomers are in their mid to late 50s now. If they haven't been able to start saving yet, they are never going to start.
Posted on 8/27/18 at 1:00 pm to Paul Allen
Don't forget about those cell phone and cable bills.
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