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Old 03-25-2015, 01:02 PM
 
Location: middle tennessee
1,926 posts, read 990,367 times
Reputation: 6949

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Quote:
Originally Posted by Emigrations View Post
The amount of income one "needs" is certainly subjective, but there are certain minimum "floors of comfort" most people value, and that level of comfort costs "X" dollars. Some people will desire no less than a mansion, others can suffice with a single-wide trailer, but how many people will be fine with living in nothing but a tent in the woods? Most everyone wants electricity and indoor heat/plumbing, so you're going to have a a water or power bill, or have to pay for the equipment to generate well water/energy yourself.

Lots of people say money doesn't matter, but if they had none, their tune would change quickly.
I didn't say money doesn't matter. I'm saying that it's not important to me that some have more than others. It is important to me that I have enough for myself.

I agree that "enough" is subjective. There is a big space between the examples you used. I am going to look up "suffice".
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Old 03-25-2015, 01:27 PM
 
Location: Great State of Texas
86,093 posts, read 72,525,560 times
Reputation: 27566
Quote:
Originally Posted by BellaDL View Post
T

Agree 100% and would like to see free financial education offered to low income and senior citizens. There are a lot of brain power and financial experience in the retired boomer group, I'd like to see some non-profit organizations setup to have retirees volunteer to teach others, and the government gives tax credit for the volunteer time.
There's plenty of free financial education in various forms..online, banks, libraries, written and verbal classes.

But people have to WANT to learn how to take care of their money.
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Old 03-25-2015, 02:09 PM
 
Location: NE Mississippi
13,681 posts, read 8,585,088 times
Reputation: 19877
I'm a senior.

My vote is that we do nothing. All the pieces to succeed are already in place and all the safety nets are already arranged.
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Old 03-25-2015, 02:12 PM
 
71,643 posts, read 71,777,271 times
Reputation: 49240
as they say you can lead a horse to water but you can't make him drink.
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Old 03-25-2015, 02:17 PM
 
Location: Idaho
1,455 posts, read 1,156,015 times
Reputation: 5500
Quote:
Originally Posted by HappyTexan View Post
There's plenty of free financial education in various forms..online, banks, libraries, written and verbal classes.

But people have to WANT to learn how to take care of their money.
Yes, I am aware of these free financial education and have taken quite a few myself. It is easy to learn and navigate when you already have some basic fundamental understandings and not being overwhelmed by all the financial terms, new concepts etc. I think that financial education courses (starting from the basic then moving up to more complex levels) designed for low income and/or senior and taught by 'peers' would be less intimidating to the novices.

If such type of education exists and people are introduced to it, I'd expect there are more people want to learn to take care of their money.
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Old 03-25-2015, 02:18 PM
 
Location: UpstateNY
8,612 posts, read 8,306,152 times
Reputation: 7523
I'm out of reps for the day (yeah, I like handing them out) so I will say this to all who posted here. Too bad none of you guys are interested in public office, we would be better off IMO........
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Old 03-25-2015, 02:31 PM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
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Quote:
Originally Posted by HappyTexan View Post
There's plenty of free financial education in various forms..online, banks, libraries, written and verbal classes.

But people have to WANT to learn how to take care of their money.
Absolutely correct. There is no shortage of quality information out there. Investopedia has a lot of technical matter for people to read. Bloomberg and Yahoo Finance have unbelievable amounts of security related and market data. Budgeting tools like Mint are free. The Dave Ramsey show is free. There are plenty of forums out there like savingadvice.com where people can get more routine personal financial advice and bounce ideas off others. Trading with electronic platforms can be done from any browser or phone these days.

Still, there are many elderly who do not use the internet or modern technology to its fullest. These are the people that need to be reached if they are uninformed.
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Old 03-25-2015, 02:50 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by CCc girl View Post
I'm out of reps for the day (yeah, I like handing them out) so I will say this to all who posted here. Too bad none of you guys are interested in public office, we would be better off IMO........
Great thought and it is awesome how civil and on target with great thinking both of the Inequality threads have been. Rancor is not needed and if only we could get our elected officials to understand that. So a major Bada Bing to ya!
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Old 03-25-2015, 03:02 PM
 
Location: SoCal desert
8,093 posts, read 13,236,672 times
Reputation: 14870
Quote:
Originally Posted by TuborgP View Post
After some good discussion about retiree income inequality in another thread perhaps is it now time to discuss what if anything should be done to alleviate some of the results discussed. Not saying we should or shouldn't that is for society to discuss and decide. However if there is to be a response should it be government driven or individually/collectively driven by the private sector. There is another thread to discuss how we got here. This is the ok we are here now what thread. Thoughts suggestions, ideas etc? Remember indifference is also a response along with a more proactive position.
The government has their nose in enough of our business, and they should stay out of it.
Other than that, I don't care at all.
Quote:
Originally Posted by boogie'smom View Post
I didn't say money doesn't matter. I'm saying that it's not important to me that some have more than others. It is important to me that I have enough for myself.
^^^^
This.
Other than that, I don't care at all.
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Old 03-25-2015, 03:03 PM
 
Location: UpstateNY
8,612 posts, read 8,306,152 times
Reputation: 7523
Thanks, TuborgP. Unfortunately, those who seek public office are not intellectual gems like us folks for the most part. JMHO. Maybe if it were a volunteer position that would change things. All these smart older geezers with time on their hands........

OTOH older folks are where it's 'at' AFA having the greater voice. We are the biggest market out there. For everything. Shake that moneymaker, folks, use our gift. Vote. Write. Call. Protest. Every industry is at it's knees for our business, including politics.

You tell it, Gandalara!!!!!!
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