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my wife gets one that is 50 bucks a month . she uses it for her hair cuts lol .
Yep. Pensions vary so much. My brother has a pension of over $4,000/month. Many people seem to believe that, if one has a pension, the pension will actually fund retirement. True in some cases, but not in others. My friend with the $350/month pension didn’t save much because she “had a pension” and believed she would be set with that and Social Security.
I had the pension plan where I worked but I bugged HR until they had an estimate done for me. Freaked me out at how little it was. That was ten years before I retired. They were pretty much right on with their assumptions/projections. Now my pension and SS actually does cover my bare-bones essential expenses and will for a while, but I’m sure glad I have savings and investments as well.
Our pension varies depending upon what option you choose..... full pension and if you die your spouse gets 100%, 50% or nothing - the amounts vary depending on what option you choose.
But it's a state pension - not a private company pension.
Student Loans
Ridiculous Car Prices
Real Estate Bubbles
Low Wages that don't keep up with COL/Inflation
Not Enough Living Wage Jobs for Millennials/Gen Z
Outsourcing
Lack of worker's rights
The rise of real estate as a conglomerate that treat tenants like ants instead of humans (less private owners)
Countless issues contribute to this topic. It is very wide.
The core problem is underutilized labor/talent. We have jobs that need to be done and picky employers that want UltraMan 3000 V28.37 but only want to pay JuniorMan 1000 V1.01 salary.
All this talk about expensive cars, coffee, houses, smart phones, etc, is based on anecdotal information. the reality is that most poor people are not big spenders. They don't qualify for car loans or mortgages that require too high of a percentage of take home pay.
I agree. I honestly don't understand why people think someone with a $30,000 income is going to be rolling around in a new Lexus. Unless they have a large amount to put down or some other unusual circumstance, they're unlikely to even qualify.
I agree. I honestly don't understand why people think someone with a $30,000 income is going to be rolling around in a new Lexus. Unless they have a large amount to put down or some other unusual circumstance, they're unlikely to even qualify.
they are usually not new - no way.
But around here you do see people in older model bmws and other cars like that
they buy them at the many little car sales lots in the city that offer their own financing. Very high rates of course.
But around here you do see people in older model bmws and other cars like that
they buy them at the many little car sales lots in the city that offer their own financing. Very high rates of course.
BMWs depreciate quickly. I can go to any dealership and buy an older, used BMW for less than a new Civic. That doesn't necessarily mean they are $30k millionaires or being stupid with their finances.
But around here you do see people in older model bmws and other cars like that
they buy them at the many little car sales lots in the city that offer their own financing. Very high rates of course.
Even the shady dealers do credit checks and won't loan money to someone that obviously can't make the payments. They will let it be a bigger item in the budget than a more responsible lender would though. Still, this kind of behavior is not nearly as widespread as many posters seem to believe.
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