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Old 03-31-2015, 10:22 AM
 
Location: USA
1,815 posts, read 2,243,650 times
Reputation: 4139

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Quote:
Originally Posted by freemkt View Post
You obviously made a salary sufficient to buy a house.

I worked two jobs -- did you miss that part?

From what I gather about you, you are college educated and you are male. Your earning potential is probably double what mine has been, yet you sit here on the internet all day making excuses why life has been so unfair to you. Nobody is going to hand you the life you want -- you have to get up off the couch and figure out how to do it yourself.
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Old 03-31-2015, 02:23 PM
 
12,825 posts, read 20,144,092 times
Reputation: 10910
Quote:
Originally Posted by TuborgP View Post
The article offers multiple strategies especially catchup opportunities after the kids are gone. Key is availability of retirement savings vehicles. As expenses are reduced etc shift that money and any increases in wages to savings and not new consumption.
In order to build retirement savings a certain income threshold must be surpassed.

During the 90s and 00s, the US was caught up in a pipe dream of corporatist globalism all the while allowing mid income jobs to move out of the country, the dollar to be assaulted, illegal immigration to flood us, and, credit to be spewed with abandon. Now we reap the bitter harvest, or, more accurately, tomorrow's retirees / elderly will reap it.

To be clear, I heartily oppose redistribution per se. Where government needs to become more activist, in order to solve this issue not to mention several other issues of inequality, is to be laser focused on fomenting middle income jobs and the growth of enterprises providing them on US soil. It is not difficult to determine where and how government needs to intervene, in order to make this happen.
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Old 04-01-2015, 08:37 AM
 
Location: Idaho
1,454 posts, read 1,155,436 times
Reputation: 5492
Social Security, Retirement Are Saved And Expanded! (April Fool's Day Edition) - Forbes

Quote:
Good news.

Congress has agreed to not only save Social Security for all future generations, but expand the entire retirement system so that everyone can easily save more money and live in a dignified fashion well into the future.

In a nearly unanimous move in both houses, here’s what they agreed to do to provide a secure retirement for all Americans:

* Lawmakers completely eliminated the irrational, crazy quilt of retirement vehicles such as 401(k)s, 403(b)s, 457s, IRAs, SIMPLEs and many others.

They effectively consolidated all of these accounts into one vehicle called a Universal Savings Account (USA), which would be completely portable and not linked to or offered by any employer. All withdrawals would be tax free.....

The USA vehicle showcased a completely privatized system: Any financial service company is allowed to bid on offering money management or funds. but the government has strict oversight over fees and administration, capping all fees at 0.10% annually....

* Social Security Was Fixed For All Time and Expanded...

To bolster the system, Congress made the Social Security tax progressive by lifting the earnings cap of $113,700. Now any wages above that amount would be subject to the Social Security tax. The proceeds would go into a “lockbox” account that Congress couldn’t touch for any reason....

“Medicare for All” System Instituted. Congress swept away the incremental reforms of Obamacare, replacing it with a universal coverage system

Instead of taxing wages and income, Congress decided to tax consumption and things that are detrimental to society’s well being."
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Old 04-01-2015, 02:50 PM
 
Location: Eastern Washington
14,242 posts, read 44,919,845 times
Reputation: 12828
Quote:
Originally Posted by freemkt View Post
Good luck paying yourself first if you make minimum wage and have a pile of student loan debt. Student loan lenders think you should pay them first and they have the power to enforce it.
If you have student loan debt, but are working for minimum wage, I guess that means you didn't get a STEM degree, instead settling for a "soft" degree.

Seriously, if you got a degree in a reasonably in-demand field, you should be making more than minimum wage!
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Old 04-01-2015, 04:01 PM
 
Location: The Triad (NC)
28,499 posts, read 62,182,463 times
Reputation: 32182
Quote:
Originally Posted by BayAreaHillbilly View Post
In order to build retirement savings a certain income threshold
(above the expenses you choose and remain committed to) must be surpassed.
Most (90%) of conflicts about saving adequately are about spending/budgets.
Spend LESS.
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Old 04-01-2015, 08:20 PM
 
33,046 posts, read 22,062,610 times
Reputation: 8970
Quote:
Originally Posted by Red On The Noodle View Post
I worked two jobs -- did you miss that part?

From what I gather about you, you are college educated and you are male. Your earning potential is probably double what mine has been, yet you sit here on the internet all day making excuses why life has been so unfair to you. Nobody is going to hand you the life you want -- you have to get up off the couch and figure out how to do it yourself.

??? I with several male college graduates...all of whom earn within a few cents of minimum wage.
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Old 04-01-2015, 08:22 PM
 
33,046 posts, read 22,062,610 times
Reputation: 8970
Quote:
Originally Posted by M3 Mitch View Post
If you have student loan debt, but are working for minimum wage, I guess that means you didn't get a STEM degree, instead settling for a "soft" degree.

Seriously, if you got a degree in a reasonably in-demand field, you should be making more than minimum wage!

My degree was intended to get me into law school, not into a job.
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Old 04-01-2015, 08:23 PM
 
33,046 posts, read 22,062,610 times
Reputation: 8970
Quote:
Originally Posted by MrRational View Post
Most (90%) of conflicts about saving adequately are about spending/budgets.
Spend LESS.

I spend less than $1000 per month. Nobody has suggested I spend too much.
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Old 04-01-2015, 10:03 PM
 
6,353 posts, read 5,161,362 times
Reputation: 8527
Quote:
Originally Posted by freemkt View Post
That's not a tiny home, it's affordable because Cleveland sucks.
It's not Detroit. There are many beautiful areas, and while the house isn't in one of them, anyone with a decent job in Cleveland can live much, much better than someone with a comparable job in New York, San Francisco, or for that matter Chicago.
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Old 04-02-2015, 06:54 AM
 
33,046 posts, read 22,062,610 times
Reputation: 8970
Quote:
Originally Posted by Larry Siegel View Post
It's not Detroit. There are many beautiful areas, and while the house isn't in one of them, anyone with a decent job in Cleveland can live much, much better than someone with a comparable job in New York, San Francisco, or for that matter Chicago.

Sure, but someone with a crappy job in Cleveland live well?
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