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Old 03-29-2015, 10:05 AM
 
29,782 posts, read 34,871,258 times
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Quote:
Originally Posted by freemkt View Post
Half of all low-income renters spend at least half their income on shelter, according to Mortgage News Daily. Requiring them to save for retirement is nuts.
I think you ought to write a book, how to make nothing with something while having a can't do attitude. Could be a best seller, but hey those wanting the book probably couldn't afford it right? What ever eventually plays out will require the individual to be able to do something to better their condition. Society can't do it all. Or is it hopeless?
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Old 03-29-2015, 05:21 PM
 
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Originally Posted by lurtsman View Post
As a financial analyst, I just have to point out that catch up provisions are incapable of ever closing the gap in a truly meaningful way. By the time the kids are gone, most of the pieces are set on the board. If you aren't most of the way to having your retirement funded, you won't get there without a huge cut in lifestyle or dramatic increase in income.
Actually and unfortunately not listening to good advise from my elders when I was young but wising up, that's exactly what I did. It cost me more though.
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Old 03-29-2015, 11:24 PM
 
33,046 posts, read 22,062,610 times
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Quote:
Originally Posted by TuborgP View Post
I think you ought to write a book, how to make nothing with something while having a can't do attitude. Could be a best seller, but hey those wanting the book probably couldn't afford it right? What ever eventually plays out will require the individual to be able to do something to better their condition. Society can't do it all. Or is it hopeless?

Ah, but that's where libraries save the day! They buy books.
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Old 03-29-2015, 11:28 PM
 
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Originally Posted by nicet4 View Post
I would be interested in knowing what the degree is in.

Not in STEM, and one of the lower-earning degrees. Which was not relevant to me at the time, because I pursued the degree to get into law school rather than to directly get a job.
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Old 03-29-2015, 11:34 PM
 
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Originally Posted by Southern man View Post
So you have student loan debt and make minimum wage?

There were 260,000 Americans with bachelor's degrees earning the federal minimum wage of $7.25 an hour or less in 2013, according to the Bureau of Labor Statistics' newest annual snapshot of minimum wage workers.

(This does not include those who work in states with a higher minimum wage.)
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Old 03-29-2015, 11:58 PM
 
48,516 posts, read 83,943,432 times
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But we also so know we are lacking many more of the science and math degreed courses. Many say we will have to increasingly import better educated foreigners. Some degrees are worthless if you want someone to pay for the knowledge gained it seems. Its little wander if you look at the creation of college degrees now days. that have little if any demand for them.
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Old 03-30-2015, 07:47 AM
 
29,782 posts, read 34,871,258 times
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Quote:
Originally Posted by freemkt View Post
There were 260,000 Americans with bachelor's degrees earning the federal minimum wage of $7.25 an hour or less in 2013, according to the Bureau of Labor Statistics' newest annual snapshot of minimum wage workers.

(This does not include those who work in states with a higher minimum wage.)
Yes and for how many years do or have they remained in that state of employment? Also where were those degrees from and what were they in. Yes as you have highlighted previously what to major in and where to do it is critical to job market entry.
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Old 03-30-2015, 11:23 AM
 
Location: USA
1,815 posts, read 2,243,650 times
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I never had an employer offer 401K or pension plan. I invested in my own mutual fund accounts starting at 28. Once the money was saved/invested, it ceased to exist for me -- like a black hole. I never considered touching it. If I had an emergency, I figured out some other way to get the money. My savings/fund accounts were never an option.

For the cry babies that say they have too much student loan debt and not enough income from their job, then you need to get a second job. I have worked two jobs most of my life. It gives you extra income AND it keeps you out of stores, clubs, and other places where you spend more money than you make.

I am single, female, never made a large salary, and I just paid off my house this week (15 years).
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Old 03-30-2015, 04:06 PM
 
Location: The South
5,225 posts, read 3,637,448 times
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Quote:
Originally Posted by Red On The Noodle View Post
I never had an employer offer 401K or pension plan. I invested in my own mutual fund accounts starting at 28. Once the money was saved/invested, it ceased to exist for me -- like a black hole. I never considered touching it. If I had an emergency, I figured out some other way to get the money. My savings/fund accounts were never an option.

For the cry babies that say they have too much student loan debt and not enough income from their job, then you need to get a second job. I have worked two jobs most of my life. It gives you extra income AND it keeps you out of stores, clubs, and other places where you spend more money than you make.

I am single, female, never made a large salary, and I just paid off my house this week (15 years).
You paid yourself first. I don't believe the young folks today understand that.
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Old 03-30-2015, 07:08 PM
 
33,046 posts, read 22,062,610 times
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Quote:
Originally Posted by texdav View Post
But we also so know we are lacking many more of the science and math degreed courses. Many say we will have to increasingly import better educated foreigners. Some degrees are worthless if you want someone to pay for the knowledge gained it seems. Its little wander if you look at the creation of college degrees now days. that have little if any demand for them.

Why can't domestic workers be retrained?
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