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Old 01-30-2016, 12:09 PM
 
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Quote:
Originally Posted by LarsMac View Post
..... But, I would like to have some conversations about dealing with life that does not become a political debate.....

I noticed you offered the suggestion of getting out of debt. I am not sure how people who are barely getting by do that, but I sure would like to hear your suggestions.
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Old 01-30-2016, 12:26 PM
 
Location: In a vehicle.
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https://www.wellsfargo.com/about/pre...dleclasssurvey

Just tossing this in.....
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Old 01-30-2016, 12:38 PM
 
Location: SW Florida
9,743 posts, read 7,022,649 times
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Quote:
Originally Posted by LittleDolphin View Post
Interesting story about the 79 year old RV driving seasonal worker.

Lots of questions come to mind.

$50,000 in debt.

Driving around in a big RV that's falling apart to find minimum wage seasonal work. And towing a Smart car. Expensive way to job hunt.

How will she pay down her debt? How will she live when RV dies or she can no longer drive it?

Wonder why she doesn't seek subsidized senior housing in the state she's from and seek employment in her community? Seems very expensive to burn up all that gas to find seasonal work across the nation. A zero sum choice.

And her decision making seems off. Before going grocery shopping, she spends $21 for a prime beef restaurant meal? $21 buys a lot of rice and beans...maybe a month's worth.

I dunno, something doesn't quite compute for me about this story.

That's despite the sympathy and sadness I feel about her plight.
Not to mention her choices. Interesting that she chose to spend $100 to attend an art event rather than on the dental work she needed. Later in the article they mention her being blindsided by emergency dental work she needed to the tune of $13,000. Don't know if this was before or after her choice to forego the dental work for the art show, but in her shoes I'd sure take care of my health needs first and look for events I could attend for free.

I don't know, just from reading the article, I get the impression she is where she is today because of choices she has made throughout her life. Obviously the article is written for the purpose of engaging the readers' sympathy for these folks plights. But I see a lot of choice, perhaps at least some self-indulgence in lieu of practicality which got them where they are today, and it's hard for me to feel too sorry for them.
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Old 01-30-2016, 12:41 PM
 
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Disgustedman, yup, I think the issue is clear. Regardless of desire, the average family is getting by and saving for retirement is tough if not impossible. The best we seem to do in offering a solution is to recommend avoiding debt and living on less while saving more. Sounds great but more and more families cannot accomplish this. My "political" view is clear. As long as our citizens are struggling to get by, we need to stop the politicians who think the well is bottomless. We also need to stop the politicians who want to police and sell democracy to the rest of the world. We should have plenty of resources available to rebuild infrastructure, and to make it easier for families to get by with day care, healthcare and social security benefits. USA first. When we try to help the rest of the world with tens of billions in aid, the money seems to be wasted and the recipients are resentful and do not trust us.
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Old 01-30-2016, 12:43 PM
 
6,212 posts, read 4,715,040 times
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Quote:
Originally Posted by Travelassie View Post
...... I get the impression she is where she is today because of choices she has made throughout her life. Obviously the article is written for the purpose of engaging the readers' sympathy for these folks plights. But I see a lot of choice, perhaps at least some self-indulgence in lieu of practicality which got them where they are today, and it's hard for me to feel too sorry for them.
Millions of Americans are struggling to get by. We cannot blame them all for bad choices and self indulgence, even if is makes us feel better.
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Old 01-30-2016, 12:48 PM
 
Location: Deep In The Heart of Texas
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I must comment on the part where she said the credit card company had upped her limit by $1,000 but that was already spent! Some folks look at a credit card like it's a bank balance to be used. Pitiful!

Last edited by Littlelu; 01-30-2016 at 12:56 PM..
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Old 01-30-2016, 12:53 PM
 
Location: Mid-Atlantic east coast
5,371 posts, read 9,857,680 times
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Quote:
Originally Posted by jrkliny View Post
Millions of Americans are struggling to get by. We cannot blame them all for bad choices and self indulgence, even if is makes us feel better.
Of course not! Many Americans are a paycheck or SS payment away from financial trouble. But the post about this elder woman was filled with inconsistencies and questions..maybe she was a poor example to represent so many Americans in financial difficulties.

There are many, many college grads with student loans owing more than $50,000, for example. They start their working lives with this huge debt.

The subject of the article is facing the end of her life with $50,000 of debt. Interesting, isn't it?

Being had at both ends of the spectrum. Debt, easy credit, seems to know no age or limit.
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Old 01-30-2016, 12:53 PM
 
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I am not advocating this at all (I have no debt) but if a person dies having $50,000 in debt, doesn't the debt just evaporate, if the person is single without children?

Wouldn't it seem that older people nearing the end of their lives can just ignore big debts and make small payments on it until passing away? Unless larger payments are demanded....

Similar to how people declare bankruptcy and all their debts are erased. (again, not advocating this at all, just bringing up points of discussion)
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Old 01-30-2016, 12:56 PM
 
Location: In a vehicle.
5,020 posts, read 3,207,482 times
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Quote:
Originally Posted by jrkliny View Post
Millions of Americans are struggling to get by. We cannot blame them all for bad choices and self indulgence, even if is makes us feel better.
So we're supposed to let them skate? Are we supposed to support them then? Something like the student debt issue? Just wipe it clean? Have no responsibility for bad choices? Make them as often as we (Or they) choose) because they'll get bailed out?
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Old 01-30-2016, 12:56 PM
 
Location: Jamestown, NY
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Quote:
Originally Posted by LarsMac View Post
Carrying a debt load into retirement is simply a recipe for disaster. I am fortunate that we achieved complete freedom from debt a couple of years ago, and now we are able to squirrel away a significant portion of my salary while I am still working.
We were on the way to a sweet retirement a while back, but of course, "sh-- happens", and we barely escaped complete meltdown in 2008. A few years in Chap13, and I still have a job that pays pretty well. We might be able to settle down to a non-starvation retirement. I'll still probably have to do like some of these people and work bit jobs as we become itinerant old farts.

If you are over fifty and still loaded down with debt, do whatever you have to NOW to get out from under it. Your retired self will be glad you did.
It depends upon your retirement income stream. If retiring means your income drops by 40 or 50%, yeah, debt is a problem. However, if your income is going to be about as much as when you were working, you don't have to worry much about debt if you can already handle what you have.
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