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The average Joe spends his excesses when he's doing well, and curses that he has no savings (and nothing to save) when he's not.
The average Joe values "that city job" which he may or may not get, that will have him "set for life" with a pension and healthcare into retirement.
Public sector employment is about the ceiling of aspiration for the average Joe.
LOL. I do love my public sector job. I never spend excessively. I am extremely debt-averse. I have had a well-funded savings account since I was 26. I research investing strategies constantly, and sock away far more than the "average joe". While I will have a pension (that I am required to contribute to), we do NOT , and never have funded heathcare for our retirees.
My co-workers are pretty similar, and we all discuss financial matters of this nature, darn near every day.
Work at HR Block for a tax season, and you will discover the answer to your question. You will find some Average Joes know a lot and some you wonder how they get through life being so clueless.
I'm not sure people realize what the headlines mean. Ten years ago I was still working and contributing $2000/month to my retirement account. Co-workers were agonizing over the fact that their accounts had lost 50% of their value, while I was delighted, since it meant I was getting a 50% discount on stocks. If the stock market is flying high, it doesn't do you any good unless you have stocks to sell. If you are saving for retirement, high stock prices are a disaster.
The average joes financial literacy is so poor that they can’t articulate what they’re even asking for in regards to financial literacy.
Oh wait.
Yep. That's me.
I'll take up the gauntlet and confess. Don't know if I'm "average Joe" but have no financial literacy. It never interested me and I was feckless all my life. And terrible at math.
Didn't save, didn't invest but did purchase my own home in SoCal at 22. And we owned our own printing co.
Financial/investment talk goes right over my head.
LOL. I do love my public sector job. I never spend excessively. I am extremely debt-averse. I have had a well-funded savings account since I was 26. I research investing strategies constantly, and sock away far more than the "average joe". While I will have a pension (that I am required to contribute to), we do NOT , and never have funded heathcare for our retirees.
My co-workers are pretty similar, and we all discuss financial matters of this nature, darn near every day.
Well, you are smart enough to be on the investing boards - enough said. The % of people who use the investing forum isn't high at all.
I'm not sure people realize what the headlines mean. Ten years ago I was still working and contributing $2000/month to my retirement account. Co-workers were agonizing over the fact that their accounts had lost 50% of their value, while I was delighted, since it meant I was getting a 50% discount on stocks. If the stock market is flying high, it doesn't do you any good unless you have stocks to sell. If you are saving for retirement, high stock prices are a disaster.
I was with you until your last sentence. You are assuming if there's a 2008 style crash, that the feds are going to bail everyone out again and prices are going to come back. Dangerous assumption.
I'll take up the gauntlet and confess. Don't know if I'm "average Joe" but have no financial literacy. It never interested me and I was feckless all my life. And terrible at math.
Didn't save, didn't invest but did purchase my own home in SoCal at 22. And we owned our own printing co.
Financial/investment talk goes right over my head.
Bet no one else 'fesses up.
the post you quoted apparently went over your head. It wouldn't let me rep that poster again.
If you owned your own printing company, and didn't go belly up, then you have some financial literacy. You understood revenue had to be > expenses. You probably had some idea if you could afford to add an employee, and what their benefit to the operation needed to be. You didn't bounce checks at the bank, not did you have significant revolving credit that was outstanding after the "busy season".
I used to be a commercial banker. 90% of my clients had very good financial literacy. 10% did not, and they were the ones who struggled to keep their businesses afloat.
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