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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 2:29 pm to Darth_Vader
Posted on 8/27/18 at 2:29 pm to Darth_Vader
How is this possible? Putting just a little money into a 401(k) would surpass this level.
0
Posted on 8/27/18 at 2:31 pm to eScott
quote:
think you should read up on it some more.
I’m good. I understand how mortgage lending works. The problem is that people let the bank figure out what they can afford without considering all the money they blow on everything else. The bank has 0 interest in repossessing your house by giving you a loan that you can’t afford.
Posted on 8/27/18 at 2:32 pm to beaverfever
For the people insinuating Congress (gubment) will go after the 401k's, 403b's etc. I seem to recall some politicians have already proposed the idea. Democrats of course. That pile of money (trillions) is too attractive to greedy, scumbag politicians. I recall Neil Boortz mentioned this on his radio show and he's been retired for awhile now.
Posted on 8/27/18 at 2:36 pm to Antonio Moss
quote:
Get ready for the left to come after your private retirement savings.
Won't happen.
Posted on 8/27/18 at 2:37 pm to KingBarkus
quote:
For the people insinuating Congress (gubment) will go after the 401k's, 403b's etc. I seem to recall some politicians have already proposed the idea. Democrats of course. That pile of money (trillions) is too attractive to greedy, scumbag politicians. I recall Neil Boortz mentioned this on his radio show and he's been retired for awhile now.
Is anyone in future economic projections accounting for the future taxation of these savings (i.e., in as how, traditional 401k's will be subject to regular income taxation) under the CURRENT framework?
Posted on 8/27/18 at 2:37 pm to Thib-a-doe Tiger
No, that's why they too sell your mortgage.
Posted on 8/27/18 at 2:38 pm to Displaced
quote:
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.
A lot of that is due to government assistance. If it wasn’t for government assistance, the poor wouldn’t be doing nearly as well. Don’t get me wrong though, government assistance is crap and I think our poor have it too easy
Middle class is still struggling in this country compared to the 90s
Posted on 8/27/18 at 2:39 pm to AUCE05
quote:
That doesnt mean he has no investments. He just doesn't utilize the stock market.
A guy passing up free money is unlikely to be making wise choices elsewhere.
Posted on 8/27/18 at 2:43 pm to Y.A. Tittle
quote:
Is anyone in future economic projections accounting for the future taxation of these savings (i.e., in as how, traditional 401k's will be subject to regular income taxation) under the CURRENT framework?
People have been talking about the tax boogeyman coming for your retirement accounts for decades, and we're as far from that happening as we've ever been (in the sense that marginal rates are as low as they've ever been).
They might means test SS down the road, and if you want to call that an indirect tax on retirement accounts, so be it, but they're not coming to get your retirement accounts.
Posted on 8/27/18 at 2:45 pm to slackster
I think what he’s talking about is the historically low tax rates we have now vs what may come in the future
Posted on 8/27/18 at 2:50 pm to Thib-a-doe Tiger
quote:
I think what he’s talking about is the historically low tax rates we have now vs what may come in the future
You should have tax diversification in your investment accounts. That's all you can do.
Worrying about the government coming after your accounts when it's 100% a losing proposition politically is asinine.
Why do you think capital gains have such favorable treatment? Could it be that capital gains are very relevant to congressmen and other people with money/influence and not so much to the 1/3 of America that can't save $5k?
This post was edited on 8/27/18 at 2:51 pm
Posted on 8/27/18 at 2:52 pm to slackster
Preaching to choir. You’d be amazed at some of the stuff I hear in my office daily, some of which has been repeated in this thread.
Money management classes should be part of every high school curriculum
Money management classes should be part of every high school curriculum
Posted on 8/27/18 at 2:53 pm to Darth_Vader
Go drive around a major city.... there are millions living in complete squalor. Most don't have $20 much less 5k saved....
Posted on 8/27/18 at 2:53 pm to Thib-a-doe Tiger
quote:
Preaching to choir. You’d be amazed at some of the stuff I hear in my office daily, some of which has been repeated in this thread.
I know, and same here.
Posted on 8/27/18 at 2:55 pm to lsu xman
quote:
$40K soccer mom crossovers.
Thats cheap for a car these days when your latest Denali is $75K++
Posted on 8/27/18 at 2:57 pm to slackster
You’re in finance? Why did I think you’re a lawyer?
Posted on 8/27/18 at 2:58 pm to Covingtontiger77
quote:
Homeowner with flood insurance who s claims are not paid because NFIP has taken the position that reservoir release was not “flood”
You’re a moron if you think this hasn’t happened.
Posted on 8/27/18 at 2:58 pm to Darth_Vader
This might already have been answered, but I'm not going to read all the prior posts.
Is that "all" Americans, adult Americans, or adults over 40? or some other sub-group.
Is that "all" Americans, adult Americans, or adults over 40? or some other sub-group.
Posted on 8/27/18 at 3:05 pm to Thib-a-doe Tiger
quote:
You’re in finance? Why did I think you’re a lawyer?
Because I play one online. I even use the Stanford logo to blend in with SFP.
This post was edited on 8/27/18 at 3:06 pm
Posted on 8/27/18 at 3:06 pm to blueridgeTiger
quote:
Is that "all" Americans, adult Americans, or adults over 40? or some other sub-group.
Working age Americans.
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