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Old 09-22-2011, 02:40 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649

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Quote:
Originally Posted by Zarathu View Post
What's the point of this discussion?
There is no point, it's like zen.

 
Old 09-22-2011, 02:42 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by Texas User View Post
What do you consider poor?
Poor is barely making ends meet, or not, each month, and certainly having nothing left over to "save" or better yet, "invest."
 
Old 09-22-2011, 02:45 PM
 
Location: Near a river
16,042 posts, read 18,975,704 times
Reputation: 15649
Quote:
Originally Posted by Texas User View Post
She was a Housewife. Back then, women did not work. Nothing that I could control. It is what it is. Very little education. NEVER worked for money in her life.
Oh so women are exempt in your world view? It's only men who have to bust their butts to make the $1.5 million you advocate to retire on? What about the millions of women today, like your mother, who have been housewives and mothers and caretakers, and they get left for the 20-year-old mistress, or they become widowed...or actually did work for a living, and made maybe half of what a man would have made in their positions? Or, never had the education or the opportunities due to their economic or social class?

Looks like there's a small loophole in your theories, and I for one am relieved that there is.

P.S. Most of the women posting here are probably about your mom's age, just to put things in perspective.
 
Old 09-22-2011, 03:00 PM
 
Location: Where the sun likes to shine!!
20,517 posts, read 26,378,793 times
Reputation: 88542
I am almost 45 and have no intention of ever seeing my social security money that I have put into the system...but I will add my opinion to your questions

Why do you chose to live this way?
I don't think anyone plans to live that way. I do think the older generations were different. Many of the women did not work outside the home. That was the way it was. There were also more pensions back then which in our future will become a thing of the past. Pensions and medical benefits for life, from a "business" standpoint, were really dumb ideas. Anyway....a lot of women were left to live on SS alone.


Did you plan for your retirement at all in your early years?
As with all people. Some do and some don't. You can lead a horse to water but you can't make them drink.


Not enough education on investments and how money works?
As for education....it is very costly. On top of that what if you are educated but the field you chose wasn't lucrative? It happens to many people.

As for investments...well many people are lucky if they know how to budget and live within their means. Many times they rely on others for advice. In some cases this can cost them everything.


Unfortunate life events? (Disability, Long-term unemployment in your career, very low-income earnings, etc)
Now those can be unexpected and completely devastating.


Bottom line you can never know what someone else has gone through and all of the choices they have made. I am not here to tell anyone how to live just like I don't want anyone to tell me We all make choices and have to live with the consequences. The only time other people's choices bother me is when I have to foot the bill.


My husband and I have planned very carefully but that doesn't mean that we are 100% guaranteed to be OK in the end. I don't trust our government, I don't trust the value of our dollar, I don't trust our stock market, I don't think pensions and 401k's will be there in the future, I don't trust our health care system, and I don't trust our entire infrastructure. Yeah...there is a lot wrong in our country and I don't think we can prepare for everything that can and "will" go wrong. Be thankful if you can survive most of the unexpected things that come up in life.
 
Old 09-22-2011, 05:13 PM
 
12,671 posts, read 21,057,764 times
Reputation: 2625
Well both men and women work now so thats good.

I believe in equal opportunity.

My mother is a Widow.

Today, women are still paid less then men which I don't like.



Quote:
Originally Posted by newenglandgirl View Post
Oh so women are exempt in your world view? It's only men who have to bust their butts to make the $1.5 million you advocate to retire on? What about the millions of women today, like your mother, who have been housewives and mothers and caretakers, and they get left for the 20-year-old mistress, or they become widowed...or actually did work for a living, and made maybe half of what a man would have made in their positions? Or, never had the education or the opportunities due to their economic or social class?

Looks like there's a small loophole in your theories, and I for one am relieved that there is.

P.S. Most of the women posting here are probably about your mom's age, just to put things in perspective.
 
Old 09-22-2011, 05:40 PM
 
12,671 posts, read 21,057,764 times
Reputation: 2625
Why not? Its our money, we put into it whether we need it or not.

Its sad that a lot of people do not even know what 401K and IRA accounts are.

Education on investments and money is FREE on the internet and the library and so many other free resources.

Budget and live within/below their means is common sense.

Other people DO NOT care if you do well financially or not. They are out there to TAKE YOUR money.

I trust our gov't and I think they are doing a great job.

I trust our stock market since its one of the things I do for a living. You can make money in any type of markets.

Dollar still has its great value.

401's not being there in the future? Are you kidding me? Well, we do have IRA's though.

Health care system is top notch. People come here from all over the world to get medical help.







Quote:
Originally Posted by younglisa7 View Post
I am almost 45 and have no intention of ever seeing my social security money that I have put into the system...but I will add my opinion to your questions

Why do you chose to live this way?
I don't think anyone plans to live that way. I do think the older generations were different. Many of the women did not work outside the home. That was the way it was. There were also more pensions back then which in our future will become a thing of the past. Pensions and medical benefits for life, from a "business" standpoint, were really dumb ideas. Anyway....a lot of women were left to live on SS alone.


Did you plan for your retirement at all in your early years?
As with all people. Some do and some don't. You can lead a horse to water but you can't make them drink.


Not enough education on investments and how money works?
As for education....it is very costly. On top of that what if you are educated but the field you chose wasn't lucrative? It happens to many people.

As for investments...well many people are lucky if they know how to budget and live within their means. Many times they rely on others for advice. In some cases this can cost them everything.


Unfortunate life events? (Disability, Long-term unemployment in your career, very low-income earnings, etc)
Now those can be unexpected and completely devastating.


Bottom line you can never know what someone else has gone through and all of the choices they have made. I am not here to tell anyone how to live just like I don't want anyone to tell me We all make choices and have to live with the consequences. The only time other people's choices bother me is when I have to foot the bill.


My husband and I have planned very carefully but that doesn't mean that we are 100% guaranteed to be OK in the end. I don't trust our government, I don't trust the value of our dollar, I don't trust our stock market, I don't think pensions and 401k's will be there in the future, I don't trust our health care system, and I don't trust our entire infrastructure. Yeah...there is a lot wrong in our country and I don't think we can prepare for everything that can and "will" go wrong. Be thankful if you can survive most of the unexpected things that come up in life.
 
Old 09-22-2011, 05:50 PM
 
194 posts, read 300,571 times
Reputation: 236
Smile CD Members- We need this poster at 1600 Pennyslvania Ave IN 2012!

Quote:
Originally Posted by anifani821 View Post
Trust me, I am with you as far as how I FEEL knowing my tax dollars go to ANYONE sitting on his/her arse. I resent it mightily. AMEN!!!!!!

However, I have decided that since it appears this country is going to hell in a handbasket w/ a brazen (and successful!) attempt by this administration with shifting wealth and making sure those who haven't worked for crap manage a middleclass lifestyle whilst I bust my butt to maintain that same lifestyle . . . it isn't gonna do me any good to distinguish why someone is elderly and in poverty. It just makes me angry and raises my blood pressure. I can't do a darned thing about it. Nothing short of a Revolution is what it is going to take! So, a revolution will weaken our Country.... what's new??

The latest "gubment scam" involves a HUD program that this administration has pushed to fund to the max and it is so shocking no one believes me when I tell them about it. It is now possible for a person who receives a HUD voucher to use that voucher (your tax dollars!) to pay for a mortgage. Yep. I can't remember whether it is Fannie or Freddie who is making the loans (Frannie, maybe?) . . . and get this . . . to be qualified for the mortgage . . . the applicant does not have to show he/she has worked in 2 years. And . .. there is yet another program that will issue ANOTHER voucher to "make up the difference" if the mortgage is not covered by the original voucher. So this Prez has figured out how to take your tax dollars and hand them over to someone else who will then use your tax dollars to pay for their mortgage, while you may very well be upside down on your own mortgage, or even worse, have lost your own home to foreclosure. So while you are out renting b/c your credit is screwed and you can't afford another home b/c the job you replaced the one you lost with pays 1/2 the salary, someone else, on food stamps and medicaid may have bought your foreclosed home with vouchers!!!! GO FIGURE. Free handouts means votes..

Thus, I have decided - I don't even want to know why someone is struggling (if they are retired). It just doesn't matter cause no one cares what the tax payers of this country think. Gubment programs are out there creating generational poverty at your and my expense and there is nothing we can do about it. Instead of addressing this entitlement society and the folks who think the rest of us owe them a "lifestyle" (not talking about people with LEGITIMATE NEED, such as disability, eldercare, etc) . . . the President is figuring out ways to shift more money from my pocket to someone else's who has spent a lifetime with their hands out . . . and now that entitlement burden is so high - the solution is "adjust" social security payments. If our government stopped all the freebie programs for those that are able to work and won't then SS, Medicare & Medicaid would never suffer a loss.

I have given up. I just want to make sure my generation gets the benefits of a system we not only paid into - but some kind of benefit from all the other tax dollars that were taken out of our checks to fund the bottom feeders of this country who haven't put in SQUAT but will continue to receive THEIR payout til the day they die, including subsidized rent, subsidized food, subsidized healthcare, subsidized heat, subsidized winterizing of their subsidized home, etc etc etc.It's a shame that the legal Americans and those that have put in years of working and paying into SS, may not be able to receive the benefits because of all the "unworthy" people that are now on these social programs.

So yes, it doesn't matter to me why someone is in a bad financial situation in retirement any longer. It just matters to me how I, and my peers, are gonna survive.
Your post is very well written and I feel assured , you have spoken for many Americans. Thank you for your post!

Last edited by louise50; 09-22-2011 at 06:01 PM..
 
Old 09-22-2011, 06:02 PM
 
12,671 posts, read 21,057,764 times
Reputation: 2625
Quote:
Originally Posted by louise50 View Post
Your post is very well written and I feel assured , you have spoken for many Americans. Thank you for your post!
You are running for President?
 
Old 09-22-2011, 06:52 PM
 
Location: California Mountains
1,448 posts, read 2,588,296 times
Reputation: 2334
Quote:
Originally Posted by Texas User View Post
Dollar still has its great value.
Please tell me, somebody, anybody, that this whole conversation is a long-playing farce.


Quote:
Originally Posted by Texas User View Post
Health care system is top notch. People come here from all over the world to get medical help.
You share the view with a frog at the bottom of a well.
 
Old 09-22-2011, 07:13 PM
 
194 posts, read 300,571 times
Reputation: 236
Quote:
Originally Posted by Texas User View Post
401K is an Investment not fixed income. The people who lost money in there did not know what they were doing.

There is no such as protecting your Stocks but there are strategies where you can lower your risk.

You only lose the money in the market when you sell on a loss.Try convincing all the investors of Wachovia, Washington Mutual, etc that went "bellyup" in 2008, that you only lose money when you sell on a loss .If you bailed out of the market in the 2008 crash then YOU LOST money!

Its good to have a little bit of Gold in a portfolio.
After reading your posts, Does anyone else on here, think that the original Poster is just trying to gets his "kicks" here and is enjoying the feedback, because in my opinion, no one can be this naive and uninformed of the present state of the economy. I doubt seriously that there isn't a person in the US that hasn't been affected financially in the present economy. Whether it be a relative , friend , or an acquaintance . It's going to be very interesting if anyone cares enough to watch his future posts as I feel assured, He or someone close to him will be affected.
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