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re: The average American adult is a disaster
Posted on 9/28/17 at 6:52 am to Homesick Tiger
Posted on 9/28/17 at 6:52 am to Homesick Tiger
quote:
who to leave our "fortune" to.
First Name: Scruffy
Middle: The
Last Name: The Janitor
2
Posted on 9/28/17 at 6:54 am to Scruffy
quote:
First Name: Scruffy
Got it. You're second on the list. Slut signed up a few years back but I don't see him on here much anymore. I think he has forsaken me.
Posted on 9/28/17 at 7:05 am to GreatLakesTiger24
I'm glad I'm not average.
Posted on 9/28/17 at 7:33 am to GreatLakesTiger24
Common trend here? Boomers. Everything bad started with baby boomers. They have no retirement savings, they led the charge on having kids out of wedlock, most of them are obese, and they screwed our economy and our insurance
Posted on 9/28/17 at 7:33 am to ShoeBang
quote:
Yes you do. Having readily accessible cash for emergencies is invaluable IMO.
My family could survive for 6-9 months with virtually no interruption if I lost my job today. Sure we might not go eat out on Friday nights or be able to keep the kids in their extra activities, but no one would go without.
Believing you don't need savings is a fool's idea.
To be fair, I think people are misconstruing his comment. I took it more as an indictment on savings accounts specifically, not savings themselves.
What is the real benefit to keeping money in a savings account that is only generating .1% APR? Particularly if you have any kind of credit card debt at 15+%.
Posted on 9/28/17 at 7:40 am to GreatLakesTiger24
According to the health experts, I am an overweight American. I'm 30 years old, 5'9" and weigh 175 pounds with roughly 20% body fat. I'm supposed to weigh around 160 pounds to be considered a "healthy" adult male for my age and height. Be that as it may, however, the doctors consider me to be in perfect physical condition. I have a near-perfect blood pressure and my heart beats slower than 60 beats per minute. I can do 80 push-ups in less than two minutes, I can do 85 sit-ups in less than two minutes, and can run a mile and a half in roughly 10 minutes.
But...according to the experts I am part of those overweight statistics.
But...according to the experts I am part of those overweight statistics.
This post was edited on 9/28/17 at 7:43 am
Posted on 9/28/17 at 7:46 am to Spankum
We had a massive housing market collapse in 2007 that wiped a few trillion dollars of wealth off the board
Posted on 9/28/17 at 7:48 am to Scruffy
Scruffy The The Janitor?
Posted on 9/28/17 at 7:52 am to Displaced
quote:Scruffy's father stuttered.
Scruffy The The Janitor?
Posted on 9/28/17 at 8:44 am to Wayne Campbell
quote:
What is the real benefit to keeping money in a savings account that is only generating .1% APR?
Having liquid cash that you can utilize today, with no waiting and no penalty. Lost you job? transmission fell out of your car? Air conditioner needs replacement? Ok - covered.
quote:
Particularly if you have any kind of credit card debt at 15+%.
Credit card debt is the one you get rid of first, but only after your liquid cash savings are in place. Priority 1 is having a reserve to fall back on IMO. I have been laid off before and my family was too young and new to have much in savings.
It was a tough struggle getting back on our feet. If I would have had more than a few $K in savings it would have been much much easier to get through. After that we prioritized expelling debt and saving 6 months of operating capital as a minimum threshold.
Posted on 9/28/17 at 8:56 am to GreatLakesTiger24
Was having a rough month, now suddenly feel great about myself 
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