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Old 09-26-2011, 05:23 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625

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I am also old and have been through lot of life. What is your own advice consist of?

Quote:
Originally Posted by Curmudgeon View Post
The biggest difference is that we've actually lived life.

This entire thread, beginning with the opening post, is an indictment of seniors and nothing more than senior bashing. It's also illogical, insensitive and really dumb.. But that hasn't stopped the OP. Nothing will except extinguishing him.

Time for me to take my own advice!

 
Old 09-26-2011, 05:32 PM
 
Location: Washington County, ME
1,549 posts, read 2,392,217 times
Reputation: 1873
I live ALMOST totally on Social Security Disability (i'm 52). My pension is VERY small, because it's a USPS pension - and gets reduced by the amount that i get from Social Security - most people dont know that!

I became disabled after working over 30 years.

I was divorced many years ago, and really didnt get 'much' from that settlement (i'm female, had no children). I bought a house on my own, and decided to invest my money in paying that off early. It's paid off now.

I had money invested - but decided to have an addition built onto my house. A highly-recommended contractor who had worked in my county for over 20 years, 'stole' over $43,000 from me and didnt finish the job. (I also paid him another $60,000+ for the work that he DID do.)

Of course, two years later i had to pay someone else to finish everything - which included a new kitchen and many other improvements - so there went the rest of my money (and prices had gone up in the meantime). I sued the first guy and won, he claimed bankruptcy... blah blah blah. I have since received a couple small checks from his bankruptcy lawyer (each under $1,500) - so who knows when or if i'll ever get the rest.

That's pretty much my story.

edited to add: my house was TINY and in bad shape - needed new siding and windows, i didnt get work done just to have a really great house; i do have a bit of money invested left but not enuf to get any kind of dividends sent to me to live off of

Last edited by Jellybean50; 09-26-2011 at 05:44 PM..
 
Old 09-26-2011, 05:40 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625
The newer generation has it much tougher then yours though. Economy has declared more recessions in the newer generation.

How come they are talking about raising the retirement age to 70?

Am I going to have SS at all?


Quote:
Originally Posted by BLS2753 View Post
You're missing the point again. This is not a contention of where the subsidy comes from. Nor is it a question whether either subsidy is right or wrong.

I've watched your generation grow up. You've been coddled since birth. Parents with life long investment plans, to make sure all you have to do for college is show up. Any academic deficiencies are lobbied away through the parent's negotiations with teachers.

Problem with getting a job after college? Let dad make a few phone calls. If all else fails, move back to your childhood bedroom, and cocoon yourself until the skies clear.

Then all of a sudden, sometime in your 30's you hit the mother lode. You're King of the World. And everybody else is a loser. Then there's that thing called the income tax, that you really don't like paying. Because most of it goes to those losers, that just didn't try as hard as you did.
 
Old 09-26-2011, 05:44 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625
I also know a few folks that NEVER had to really work. I guess they had some kind of a 'Trust' account. Parents have lot of money so I guess they get to drive the latest sports cars and party everyday. Maybe help out their parent's business a little.



Quote:
Originally Posted by BLS2753 View Post
You're missing the point again. This is not


a contention of where the subsidy comes from. Nor is it a question whether either subsidy is right or wrong.

I've watched your generation grow up. You've been coddled since birth. Parents with life long investment plans, to make sure all you have to do for college is show up. Any academic deficiencies are lobbied away through the parent's negotiations with teachers.

Problem with getting a job after college? Let dad make a few phone calls. If all else fails, move back to your childhood bedroom, and cocoon yourself until the skies clear.

Then all of a sudden, sometime in your 30's you hit the mother lode. You're King of the World. And everybody else is a loser. Then there's that thing called the income tax, that you really don't like paying. Because most of it goes to those losers, that just didn't try as hard as you did.
 
Old 09-26-2011, 05:52 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625
Quote:
Originally Posted by BLS2753 View Post
There's exceptions to the rule, but for the most part the days of Horatio Alger stories are over. The successful person in their 30's today has nearly always had considerable family support to get where they are. But they can't differentiate their own abilities, from opportunity and chance.

For every one of these types, there's several others struggling with student loans and unemployment, or at least underemployment.

There's a fine line between Mark Zuckerberg and the kid working at Best Buy.

Mark went to Harward. His family background is not really public.

Why get a student loan if you cannot pay it back especially a very big one?
 
Old 09-26-2011, 05:54 PM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by BLS2753 View Post
You're missing the point again. This is not a contention of where the subsidy comes from. Nor is it a question whether either subsidy is right or wrong.

I've watched your generation grow up. You've been coddled since birth. Parents with life long investment plans, to make sure all you have to do for college is show up. Any academic deficiencies are lobbied away through the parent's negotiations with teachers.

Problem with getting a job after college? Let dad make a few phone calls. If all else fails, move back to your childhood bedroom, and cocoon yourself until the skies clear.

Then all of a sudden, sometime in your 30's you hit the mother lode. You're King of the World. And everybody else is a loser. Then there's that thing called the income tax, that you really don't like paying. Because most of it goes to those losers, that just didn't try as hard as you did.
Isn't inter-generational wealth creation suppose to be a life goal? Isn't a goal suppose to be upward social mobility from parent to child in a continuing cycle? Aren't we suppose to strive for a better life for our children and their children? That's how I was raised and lived my life and hopefully future generations will do likewise. Perhaps the reason we have an increasing wealth gap is the failure of some to embrace that concept!
 
Old 09-26-2011, 05:56 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625
I thought he was talking to me?

Quote:
Originally Posted by Themanwithnoname View Post
Wait what? Coddled? Exactly how?!?!(Sure some have, lots others haven't... SAME AS YOURS)

I started saving for retirement before my Parents (Except my Dad's pension, that's just years, not contribution)

Parents gave me $50 a week my first year of school, that's about it.

As far as them dealing with the school... Hardly. In fact, the reverse!

Interesting dreamworld you live in.

I'm not saying all are like me, but DEFINITELY not what you represent!



Your imagination is in high gear.
 
Old 09-26-2011, 06:12 PM
 
12,671 posts, read 21,064,291 times
Reputation: 2625
Would your life be better if you still had that $43 plus?

Quote:
Originally Posted by Jellybean50 View Post
I live ALMOST totally on Social Security Disability (i'm 52). My pension is VERY small, because it's a USPS pension - and gets reduced by the amount that i get from Social Security - most people dont know that!

I became disabled after working over 30 years.

I was divorced many years ago, and really didnt get 'much' from that settlement (i'm female, had no children). I bought a house on my own, and decided to invest my money in paying that off early. It's paid off now.

I had money invested - but decided to have an addition built onto my house. A highly-recommended contractor who had worked in my county for over 20 years, 'stole' over $43,000 from me and didnt finish the job. (I also paid him another $60,000+ for the work that he DID do.)

Of course, two years later i had to pay someone else to finish everything - which included a new kitchen and many other improvements - so there went the rest of my money (and prices had gone up in the meantime). I sued the first guy and won, he claimed bankruptcy... blah blah blah. I have since received a couple small checks from his bankruptcy lawyer (each under $1,500) - so who knows when or if i'll ever get the rest.

That's pretty much my story.

edited to add: my house was TINY and in bad shape - needed new siding and windows, i didnt get work done just to have a really great house; i do have a bit of money invested left but not enuf to get any kind of dividends sent to me to live off of
 
Old 09-26-2011, 08:02 PM
 
Location: Prospect, KY
5,288 posts, read 17,965,185 times
Reputation: 6544
Quote:
Originally Posted by TuborgP View Post
Isn't inter-generational wealth creation suppose to be a life goal? Isn't a goal suppose to be upward social mobility from parent to child in a continuing cycle? Aren't we suppose to strive for a better life for our children and their children? That's how I was raised and lived my life and hopefully future generations will do likewise. Perhaps the reason we have an increasing wealth gap is the failure of some to embrace that concept!
Being wealthy was never a goal when I was growing up. Getting educated, learning how to make correct choices, love of famiy, loyalty, consideration of others, honesty, integrity, hard work, earning enough money to support yourself, saving, being happy -those were goals that I was taught by observation and example. I certainly never sat our 3 sons down and told them, "Now look, our goal in this family is to acquire inter-generational wealth and make sure that all successful generations are wealthier than the last."

More than anything I want my children to be productive and happy. Wealth does not equal happiness. Happiness is usually derived from a combination of many worthy goals.
 
Old 09-26-2011, 08:06 PM
 
Location: SW MO
23,605 posts, read 31,497,588 times
Reputation: 29076
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