Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Alot. The govt is the bulk of the economy. Their actions affect everyone. It is increasingly harder and harder to save enough money to put way. It is an unpredictable moving target. From all the varying areas. The derivative bubble had massive global effects. Still there. How can you not see that?
We're talking about boomers here retiring.
They've been working for 30+ years now.
Many choose to "wait" though and just don't have enough money in their 401K accounts to live off of for the rest of their lives.
If the boomers didn't save imagine their children's' savings habits ?
Each successive generation is deeper in debt at an earlier age.
You have 21 year olds today with near $100K of debt on graduation day.
We're talking about boomers here retiring.
They've been working for 30+ years now.
Many choose to "wait" though and just don't have enough money in their 401K accounts to live off of for the rest of their lives.
If the boomers didn't save imagine their children's' savings habits ?
Each successive generation is deeper in debt at an earlier age.
You have 21 year olds today with near $100K of debt on graduation day.
Yes, but the reason they have trouble saving is due to environmental factors. Every living thing is an environmental product. Credit was pushed on purpose. Just look at the cost of trying to "own" a home. They made home ownership "easier" in the 90's why? The economy is debt based on purpose. Govt loves debt, so do bankers.
I was addressing why there are differences in boomers and later generations. People do not live in a vacuum.
Yes, but the reason they have trouble saving is due to environmental factors. Every living thing is an environmental product. Credit was pushed on purpose.
I was addressing why there are differences in boomers and later generations. People do not live in a vacuum.
Yes it was. Buy today and pay double back tomorrow.
Credit = DEBT which is a 4 letter word
It's very easy to fall into the debt trap.
I know people and have family members that had to declare bankruptcy soley due to CC debt that got so high they couldn't pay all their bills every month.
You think these kinds of people save ?
They are living paycheck to paycheck because of the debt they got themselves into.
Yes it was. Buy today and pay double back tomorrow.
Credit = DEBT which is a 4 letter word
It's very easy to fall into the debt trap.
I know people and have family members that had to declare bankruptcy soley due to CC debt that got so high they couldn't pay all their bills every month.
You think these kinds of people save ?
They are living paycheck to paycheck because of the debt they got themselves into.
And that's why I find it hard to believe that so many boomers turning 65 today are "retiring".
They can't collect SS for another year.
They aren't. BLS data shows increasing participation in these age groups. More not less. They project this to only increase, as well.
From my view people can save all they want, but that future target may not be enough. I think focusing on self-sufficiency is more valuable. The basics.
They aren't. BLS data shows increasing participation in these age groups. More not less. They project this to only increase, as well.
From my view people can save all they want, but that future target may not be enough. I think focusing on self-sufficiency is more valuable. The basics.
Americans have dismal savings habits.
You don't have to be self sufficient though.
Just don't be that "consumer".
Less is more attitude.
Starve the beast as they say.
It was the boomers that started the "job hopping" trend.
That's when 401Ks came into the picture to replace the pensions.
That "freed up people" to move to new jobs and take their retirement money with them.
And since then job hopping has become the norm.
There is no more company loyalty and that is on both sides ..companies don't want 30 year long employees and employees don't want to be locked into jobs for life anymore.
Yes, the scene has changed and I watched it happen.
The reason fund models are changing is mostly for those who profit from the market changes, leveraging and skimming at the top of the food chain. They need to be able to pool and invest. The stock market is almost all institutionally owned. Pensions are not as flexible as other fund types, govt pensions, are even more so inflexible.
You don't have to be self sufficient though.
Just don't be that "consumer".
Less is more attitude.
Starve the beast as they say.
Yes, but at the end of the day. One needs the basics and the best way to do that is to become self-sufficient. Going off grid etc... are good ways to not be so plugged in. Controlling ones cost can be easier to do than trying to save enough, whatever that is. The whole system globally imports consumerism and exports productivity to make everyone dependent. This maximizes market share.
You can "own" a home and lose it very easily over something as simple as a tax or utility bill.
You don't have to be self sufficient though.
Just don't be that "consumer".
Less is more attitude.
Starve the beast as they say.
I thought George W the Republican promoted spending and cut taxes. How can you be a conservative without putting Medicare on a credit card and the rest of deficit spending. Wasnt it Cheney who said deficits dont matter. Tea Partiers love Medicare one of the biggest drivers of the deficit. So much for conservative Republicans.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
