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.
The premise of this piece is fairly simple. The author says under current "economic" conditions he can't retire. He never said he didn't save enough.
This particular guy's profile says he was a state senator for year, a vet and a successful freelance writer. The fact he cant retire is BS. The more I think about it, the more I believe it's fake.
Quote:
Originally Posted by sol11
Many tend to agree with Jarhead's premise, that under these economic conditions, with the country deeper in debt than at any point in history, when the printing presses are printing worthless money 24/7, and when savers don't know if their investments/savings are secure or how much they'll be worth if the dollar is devalued. In these times it is a little difficult to have certainty about the future. Not knowing what goods and services will cost years down the road, it is unwise for people Jarhead's age to retire prematurely and run out of money because of hyperinflation or a worthless dollar. Instead, it is more practical to continue working in some capacity as long as feasible, and delay drawing from retirement accounts.
I cant say that I've met anyone who was afraid of retirement right now. As long as you planned it out right you will be fine. But hey, considering how paranoid some people on the right are, go for it, keep working.!
Quote:
Originally Posted by sol11
Something can be said for the older generation's not retiring too quickly and being a burden on the system or the family. But that's a concept the liberals probably cannot understand.
Ahh right, I've never met a liberal who was a hard worker. Only people on the right are like that
I can't fault anyone for using the IRS as a holding place for their $$. You said it works for you, so that's good. It's not the best or smartest way to save, but it's one way that a lot of people seem to use. I did it too, when I was younger. Then I got smarter.
I think I mention this in the other topic you are talking about, if interest rates where better, I wouldnt use the IRS has a holding place, but for now It doesn't seem to make such sense to do anything else with it.
Quote:
Originally Posted by southward bound
However, looking forward, it'll be interesting to hear from you once the taxes, under all their different aliases, kick in. You may one day end up feeling just like this guy in the OP.
We'll see, people do turn more republican as they get older, so you never know.
No. He specifically mentions being asked to pay, repeatedly, for others' mistakes and poor choices. AMT or not, money taken from him to pay for others reduces his ability to save for his own retirement.
Yes, but doesn't that happen to all of us? Its not like the government picked him to pay for everyone else, we all do. How come I can save and he cant? The writer mentions he has a good salary, so do I... so one can assume we are in the same tax bracket. If that's the case how can I save and he cant?
This particular guy's profile says he was a state senator for year, a vet and a successful freelance writer. The fact he cant retire is BS. The more I think about it, the more I believe it's fake.
I cant say that I've met anyone who was afraid of retirement right now. As long as you planned it out right you will be fine. But hey, considering how paranoid some people on the right are, go for it, keep working.!
Ahh right, I've never met a liberal who was a hard worker. Only people on the right are like that
You must do a little more reading and visit with the older heads more. There are many who have returned to the workforce after retiring because of losses in their retirement accounts.
Even not being a social butterfly, I personally know of at least four couples who have had one or both reenter the workplace because of losses to retirement accounts. The economic conditions leaves a lot of uncertainty for the older generation.
And btw, I never said liberals don't work hard, they just don't share the same conceps of personal responsibility with conservatives. Many liberals look to the government FIRST to solve their financial delemmas where conservatives look to the government only as a last resort.
Yes, but doesn't that happen to all of us? Its not like the government picked him to pay for everyone else, we all do. How come I can save and he cant? The writer mentions he has a good salary, so do I... so one can assume we are in the same tax bracket. If that's the case how can I save and he cant?
Without a forensic audit, I'm gonna guess he has more debt or he spends more than you do
No. 47% of American households pay no federal income tax whatsoever. Many of them actually get money FROM the fed gov.
Quote:
Its not like the government picked him to pay for everyone else, we all do.
False. See above.
Quote:
How come I can save and he cant? The writer mentions he has a good salary, so do I... so one can assume we are in the same tax bracket. If that's the case how can I save and he cant?
Not necessarily. It depends on how tax law applies to the income. Cost of living varies greatly throughout the U.S., as well. A $75,000 salary would be huge in some areas of the country, and barely enough to get by in others.
No. 47% of American households pay no federal income tax whatsoever. Many of them actually get money FROM the fed gov.
Not necessarily. It depends on how tax law applies to the income. Cost of living varies greatly throughout the U.S., as well. A $75,000 salary would be huge in some areas of the country, and barely enough to get by in others.
Excellent points, especially that last one. Cost of living can make or break a family in some areas, and it's not that easy for a family to pick up and move. They need jobs first, plus there are other considerations - extended family, health, schools, etc.
No. 47% of American households pay no federal income tax whatsoever. Many of them actually get money FROM the fed gov.
False. See above.
Not necessarily. It depends on how tax law applies to the income. Cost of living varies greatly throughout the U.S., as well. A $75,000 salary would be huge in some areas of the country, and barely enough to get by in others.
Again, poor chioce of words on my part. I guess a better way of putting it would have been "happens to all of us who make more then 60,000 a year".
I would assume this guy is from massachusetts, since her was part of the state assembly. I'm from NJ, so my cost of living is thru the roof and still can save.
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.
