U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-11-2014, 03:03 PM
 
7,112 posts, read 9,352,884 times
Reputation: 8162

Advertisements

Quote:
Originally Posted by cdelena View Post
In a country where 50% take government assistance of one kind or another it is not surprising.

That's not the issue, especially if you consider that judging by the statistics quoted in the OP, some people getting a leg up from the government are still managing to save something for retirement. And may I add: good on them! they are obviously managing to buy smart cookies with those bridge cards!

The OP is grim news when you consider that trying to live on Social Security, unless your children are all MDs or you have 18 lovable roommates without health conditions, is like taking a vow of poverty.
Reply With Quote Quick reply to this message

 
Old 08-11-2014, 03:33 PM
 
Location: Near a river
16,042 posts, read 18,985,208 times
Reputation: 15649
Quote:
Originally Posted by anifani821 View Post
I think you really need to do a LOT more research on NC b/c this statement is waaaay off base.

There have been a plethora of job training programs in this state as well as freebie classes in order to get degrees, and the stats are appalling as to how many folks start out in the FREE programs and don't bother to finish.

Your observations are good to know about NC, and not what I've heard from those I know who live there. Their observations were echoed by Tuborg's statements about moving to NC where the taxes don't go as much for social safety net programs. Based on your statements, they seem to be misinformed, though we in the North have heard quite a bit about the new conservatism swing in NC that does not seem to bode well for the poor.

"How can one be governor of the state with the second-highest percentage of hungry babies and never mention it? What does it take to be deemed important?"....

"And the sins don’t stop with silence. The governor and General Assembly, in 2013, launched a war against poor people unlike anything seen in our modern history. There’s no need to rehash its particulars in depth here – hundreds of thousands swept from Medicaid expansion; the steepest cuts to a state unemployment compensation program since they were created in the 1930s; the grim abolition of the earned income tax credit, requiring 929,000 low-income Tar Heels to pay more to the tax man; the headlong rush to become the first state to cut off welfare benefits during the government shutdown. Meanwhile, the wealthiest North Carolinians were treated to colossal tax breaks in a bold redistribution from the long-jeopardized poor to the richest among us – folks who already secure greater portions of our wealth and income than has occurred in a century...."

From silence to savagery, pain for the poor intensifies | Seeing the invisible | NewsObserver.com

ETA: I'm not tying to single out NC; this is the case in at least some other states too, according to what is reported.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 03:53 PM
 
Location: Tennessee
23,594 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by stevek64 View Post
I don't agree with that. TX for example has a lot of decent paying jobs and the housing is reasonable compared to many parts of the country. TX has been leading the nation/towards the top in job growth for sometime now based on what I've read. And of course there are pockets all around the country with low cost of living that are doing back flips for teachers, health care workers, pharmacists, etc.
TX, UT, the Dakotas, MN, NE, and IA are all doing very well. With the exception of TX, most are relatively homogeneous, well-educated states with a low population, and are often booming from resources. MN and IA have been buoyed by proximity to the Dakotas as well as high agricultural prices. These states are not normal.

IL/IN/OH/MI are struggling with high unemployment or major structural economic shifts. The South is still a mess. How many people are moving to Missouri for some wonderful job? Much of the Mountain West is lightly populated.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 03:53 PM
 
Location: Delray Beach
1,136 posts, read 1,440,563 times
Reputation: 2510
.. in a distant prior post someone wrote smugly:

"..There is just no way you can do or see as much at 70 that you did at 40, no matter how healthy they are. We were never retirement oriented and without kids, I have no vision of being old, it just doesn't exist. We have a suicide pact at the time that it is no longer fun and away we go. So since I control the end (in the long game), there was no reason to plan for it"

And you really think you will feel this way when you are 60something and "it is no longer fun"?
I will be kind and describe your expectation as merely delusional.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 03:57 PM
 
Location: In my mind
288 posts, read 167,511 times
Reputation: 797
Quote:
Originally Posted by dysgenic View Post

We don't make our own luck. That is actually impossible as luck is something that is mathematically improbable. For example, did a person that got struck by lightning and died (I know someone this happened too, incidentally), have a hand in being struck? You may say that person shouldn't have been outside during a storm. Fair enough. What about the family of the person that was struck by lightning and killed. How did they 'make' their bad luck of having a family member struck and killed by lightning?

Making Luck is like the Laws of Attraction: Not a reality; however I do believe some people refuse to fail!! It is as simply as that. Sucess is getting up ONE more time than you are knocked down


As to myself, I've tried 3 or 4 other fields so far and nothing has panned out yet as far as making enough money to support a family. Of course I'll keep trying. I don't see healthcare in my future as going to school while trying to support a family isn't practical in my situation. But thank you.

Have you compared COL & benefits available, such as community colleges, wages etc and found the area best for you to succed?


I believe what's happening nowadays is that the truth behind the root causes of these depressions is coming to light. In short, these depressions and economic travesties are caused by a criminal junta of unjust bankers and lawyers that are profiting from usury, the federal reserve system, the fractional reserve banking system, limited liabilities that make monopolization and fascism possible, and corporate government.

I agree, I would add income inequality, & outsourcing.

Bottom line: collectively, the poor people are the victims and consequence of a criminal system and the bankers and lawyers are the perpetrators.
Additionally I would submit the growing lower income, Households earning less than $25K=35%
It appears their is no reason to believe this figure will decrease probably it will increase.
I don't have the answers but I think we can all agree what the questions are.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 04:21 PM
 
12,707 posts, read 9,981,349 times
Reputation: 9515
Quote:
Originally Posted by Frydazechild View Post
Additionally I would submit the growing lower income, Households earning less than $25K=35%
It appears their is no reason to believe this figure will decrease probably it will increase.
I don't have the answers but I think we can all agree what the questions are.
Yes but $25K for a single adult with no kids is very different from $25K for a large family with 4 kids - the former is working class, the latter is outright poverty.
Now, adults are commonly living without a family (either the one they came from or one they start). Surely this should be accounted for.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 04:46 PM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by newenglandgirl View Post
Your observations are good to know about NC, and not what I've heard from those I know who live there. Their observations were echoed by Tuborg's statements about moving to NC where the taxes don't go as much for social safety net programs. Based on your statements, they seem to be misinformed, though we in the North have heard quite a bit about the new conservatism swing in NC that does not seem to bode well for the poor.

"How can one be governor of the state with the second-highest percentage of hungry babies and never mention it? What does it take to be deemed important?"....

"And the sins don’t stop with silence. The governor and General Assembly, in 2013, launched a war against poor people unlike anything seen in our modern history. There’s no need to rehash its particulars in depth here – hundreds of thousands swept from Medicaid expansion; the steepest cuts to a state unemployment compensation program since they were created in the 1930s; the grim abolition of the earned income tax credit, requiring 929,000 low-income Tar Heels to pay more to the tax man; the headlong rush to become the first state to cut off welfare benefits during the government shutdown. Meanwhile, the wealthiest North Carolinians were treated to colossal tax breaks in a bold redistribution from the long-jeopardized poor to the richest among us – folks who already secure greater portions of our wealth and income than has occurred in a century...."

From silence to savagery, pain for the poor intensifies | Seeing the invisible | NewsObserver.com

ETA: I'm not tying to single out NC; this is the case in at least some other states too, according to what is reported.
NEG, let me try to clarify. Annifan and I are saying the same thing. NC has programs for folks who want to better themselves like job training, six year vocational programs and very good vocational programs in schools. What they are lacking are support programs for people not able or willing to support themselves or try to better themselves. yes we cut unemployment benefits and guess what? The unemployment rate fell when the choice was work or go hungry. Limiting benefits helped to attract and create more jobs as the cost to business to operate here has gone down. We don't have the federal government to feed off of as does some other states. We have a higher percentage of those in poverty and a lower percentage of those able to pay for those programs. That is a very critical difference between the states. The ratio of poverty to affluence influences the tax burden on the affluent and that can be a deal killer for some states and cities. Witness Detroit, Chicago. Even the ratio in Illinois and NJ has become more of a challenge. As we have told you before our Medicaid system is broken and has been under the last two governors one Dem and now Repub. I was at the foot doctor today for my manicure and they are no longer accepting Medicaid for either new or what was current patients. Why? A major delay in getting reimbursed which is a serious systemic problem. What would the expand and break the system even more and displace more people already receiving benefits. Also under the Affordable Care Act people who qualified for Medicaid under the previous guidelines if newly enrolled are not covered by the ACA stipends and the state is responsible for at that is a dollar cost that the state is having serious problems containing. We know what we can't afford and don't want the bankruptcy challenges facing other states. There is not the uproar here that there would be elsewhere because of a few things:
Many don't care and that is a political and social reality

The state doesn't have the economic and tax base to do a lot of things and needed to cut business taxes to attract and retain companies in order to grow the economy and be able to afford more. That is a novel notion lost on those who think all good things come from the public sector.

The state has its own historical cultural perspective and it is more one of self reliance and independence I will try to find a great article that helps understand regional historical differences.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 04:49 PM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by dysgenic View Post
We don't have enough jobs for the 30% of college grads, what makes you think that if we doubled that rate things would change? Not to mention that college doesn't equal skills and it never has.

We don't make our own luck. That is actually impossible as luck is something that is mathematically improbable. For example, did a person that got struck by lightning and died (I know someone this happened too, incidentally), have a hand in being struck? You may say that person shouldn't have been outside during a storm. Fair enough. What about the family of the person that was struck by lightning and killed. How did they 'make' their bad luck of having a family member struck and killed by lightning?

As to myself, I've tried 3 or 4 other fields so far and nothing has panned out yet as far as making enough money to support a family. Of course I'll keep trying. I don't see healthcare in my future as going to school while trying to support a family isn't practical in my situation. But thank you.


I believe what's happening nowadays is that the truth behind the root causes of these depressions is coming to light. In short, these depressions and economic travesties are caused by a criminal junta of unjust bankers and lawyers that are profiting from usury, the federal reserve system, the fractional reserve banking system, limited liabilities that make monopolization and fascism possible, and corporate government.
Bottom line: collectively, the poor people are the victims and consequence of a criminal system and the bankers and lawyers are the perpetrators.
Question and trying to stay within the thread. Does this and the other things you have said form the foundation of your retirement plan? If not would you be so kind as to share what your retirement plan is and how you intend to implement it?
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 05:00 PM
 
29,782 posts, read 34,880,403 times
Reputation: 11705
Quote:
Originally Posted by newenglandgirl View Post
Your observations are good to know about NC, and not what I've heard from those I know who live there. Their observations were echoed by Tuborg's statements about moving to NC where the taxes don't go as much for social safety net programs. Based on your statements, they seem to be misinformed, though we in the North have heard quite a bit about the new conservatism swing in NC that does not seem to bode well for the poor.


From silence to savagery, pain for the poor intensifies | Seeing the invisible | NewsObserver.com

ETA: I'm not tying to single out NC; this is the case in at least some other states too, according to what is reported.
The 11 Rival Regional Cultures of North America - The Chronicle Review - The Chronicle of Higher Education

Give it a read and let us know what you think. Might explain some things. I found it fascinating when I first discovered it.
Reply With Quote Quick reply to this message
 
Old 08-11-2014, 05:49 PM
 
26,125 posts, read 28,521,132 times
Reputation: 24826
Quote:
Originally Posted by Frydazechild View Post
Not necessarily true. the same thing happened to me because I paid into the Deferred Compensation Plan
through work. It was managed by CitiBank. When the market tanked I was left w/a 6th of my account.
About what I had paid in. In order to recoup that loss I would have had to come up w/around $600K to put back in to stop the bleeding. I didn't have it then & you know what I still don't have it. When you
invest make sure you put you $ into CDs, bonds, savings pools, etc unless you can afford to lose the money.
Just because the plan was managed by CitiBank doesn't mean anything. What was the name of the fund(s) you had the money invested in? Balanced mutual funds (and target retirement funds) own a mix of stocks & bonds, by definition. They did not get hit as hard as funds that invest only in stocks. Balanced and Target Date funds are the ones most people should be investing in for retirement. Not 100% stocks. Definitely not 100% in only one or a couple of stocks. I also don't agree going the opposite extreme....Bonds are ok to a point. Even young investors should have some bonds in their portfolios, IMO. But having all or most of your long term money in cash, CD's etc. is not smart, as interest rates are not keeping up with inflation. Yes, you need to have cash savings outside your retirement plan, but inside the plan, cash should be a small or non-existent part of your retirement money. But despite all that, the stock market has totally come back since 2008. So just about any stock mutual fund you invested in would have come back by now if you had stayed with it.

Quote:
Originally Posted by Frydazechild View Post
Also the middle class is $25K-$99,999,999, & median net is $48K so I think minimum wage is never is never going to make it; especially since most of those jobs are not full time so the employer doesn't have to provide benefits.
In general, I agree on the point about minimum wage earners. But the point is, if you earn minimum wage your whole life, you most likely have some major problems (drug/alcohol/psychological/emotional) preventing you from earning a decent living. Very few people earn minimum wage their whole working lives.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top