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Old Today, 09:16 AM
 
2,316 posts, read 588,463 times
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Quote:
Originally Posted by Mikala43 View Post
I'm a high school drop out and DH has very little higher education, and we are pretty well funded for retirement. Knock on wood.

We are a spoiled society, and our quality of life, and consumption rates, are probably higher than a good 60% of the rest of the world.
I'm acquainted with a woman who never went to college, and almost miraculously is a Partner at a Big 4 Accounting Firm and regional head of its healthcare advisory services.

There are, as you point out, many paths to economic success.
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Old Today, 09:20 AM
 
522 posts, read 311,874 times
Reputation: 2576
Quote:
Originally Posted by jrkliny View Post
$35K/year is equivalent to 2 adults making about $7/hour. Maybe folks in that situation need to do something differently like get a trade or not try to raise 3 kids.
I was refraining from commenting here but since jrkliny did it for me... What's this about "Hey you try to raise 3 kids on that paycheck?" Don't have the kids unless and until you get get more money. I did 20 yrs in the military and saw this all the time with 1 and 2 stripers. They know exactly how much money they're making... (almost) exactly how much it will increase in the next 5 yrs... but they get married and have kids anyway! And cry about making ends meet.

Page 2: I would submit that having a reasonable chance at feasibly saving 10% off the top out of one's salary, as a single person, in today's dollars, would require that you make something on the order of $40,000 - $50,000 bucks. So, I am not entirely unsympathetic to the subjects of this discussion. I think some are too sanguin about how "easy" it is to get a good job, keep a good job, move up the ladder

BUT... here is something that was put forth probably as far back as the 1980's. You're just starting out. You don't make much money. You want to have a secure retirement. For the first five or six years of your work life you work two jobs. Live on one, entirely save the rest. By the time you're 65 or 60 (or even sooner if you catch 1982-1999 stock market in there) you will have the resources mathed-out above by "Questions and comments."
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Old Today, 09:23 AM
 
Location: Tennessee
23,840 posts, read 17,744,737 times
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Quote:
Originally Posted by jrkliny View Post
$35K/year is equivalent to 2 adults making about $7/hour. Maybe folks in that situation need to do something differently like get a trade or not try to raise 3 kids.
I don't disagree, but that's the median HHI in my hometown. It's poor. When you're that poor, it takes everything you have to simply subsist and there's not much leftover for savings and investments.

I make fairly good money locally. Most of my friends make less and have kids. Some are not in a relationship and trying to do it alone. I don't know how all the low earners around here do it and have any quality of life at all.
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Old Today, 09:42 AM
 
Location: North East
65 posts, read 14,658 times
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Quote:
Originally Posted by ReachTheBeach View Post
. It does nothing to fix the overall system.
I could be missing something here. You invest money in, and it grows. What is wrong with the system.?
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Old Today, 09:55 AM
 
7,370 posts, read 8,709,546 times
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Capitalism: you don't get what you deserve, you get what you negotiate.

Want to do away with forms of Capitalism?
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Old Today, 09:59 AM
mlb
 
Location: North Monterey County
3,232 posts, read 2,880,998 times
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Quote:
Originally Posted by RationalExpectations View Post
I'm acquainted with a woman who never went to college, and almost miraculously is a Partner at a Big 4 Accounting Firm and regional head of its healthcare advisory services.

There are, as you point out, many paths to economic success.
Yup. Not a college grad here ....got out because I had to work to support myself so no debt. Admin/assistant work and records management. Ended up in city government for my longest employ.

I would like to see a list of careers that do not require college...maybe that ship has sailed. I got my jobs because of on the job experience.

I had more job stability than my spouse did with his degree.

But he also had no debt because he paid as he advanced from community college to CSUN.
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Old Today, 10:11 AM
 
Location: NC Piedmont
3,979 posts, read 2,907,089 times
Reputation: 6377
Quote:
Originally Posted by homestead123 View Post
I could be missing something here. You invest money in, and it grows. What is wrong with the system.?
Not everyone can ante up. It isn't a fair system right now. There is a lot of hogwash about how anyone can advance if only they try harder, ignoring the mathematical impossibility of everyone doing that. Meanwhile, the majority of the wealth resides with a small percentage of the population. I don't want it redistributed evenly; I think capitalism can work and that you should be able to make a lot more than someone who doesn't work as hard, save and invest. But the people on the lower rungs are currently not making enough to have a reasonable quality of life and retire without assistance. The people who scream the loudest about how unfair it is to ask them to help fund those less fortunate tend to be the small percentage who has the most wealth.
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Old Today, 10:24 AM
 
7,370 posts, read 8,709,546 times
Reputation: 9329
Quote:
The people who scream the loudest about how unfair it is to ask them to help fund those less fortunate tend to be the small percentage who has the most wealth.
Is that true?

Top Givers in the U.S., According to Forbes (*not a full list & not in order)

- Buffet
- Gates
- Bloomberg
- Zuckerberg
- Walton Family (Walmart)
- Dell


They fund initiatives in education, healthcare, hunger, agricultural development, women's economic development, environment, their local communities (disaster relief) to name just some.
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Old Today, 10:27 AM
 
Location: Middle of the ocean
31,979 posts, read 20,158,339 times
Reputation: 46202
Quote:
Originally Posted by ReachTheBeach View Post
Not everyone can ante up. It isn't a fair system right now. There is a lot of hogwash about how anyone can advance if only they try harder, ignoring the mathematical impossibility of everyone doing that. Meanwhile, the majority of the wealth resides with a small percentage of the population. I don't want it redistributed evenly; I think capitalism can work and that you should be able to make a lot more than someone who doesn't work as hard, save and invest. But the people on the lower rungs are currently not making enough to have a reasonable quality of life and retire without assistance. The people who scream the loudest about how unfair it is to ask them to help fund those less fortunate tend to be the small percentage who has the most wealth.


None of that ever crossed my mind during my working years, and if it had, not sure how that would have affected anything. What does others having something have to do with me and what I accomplish? Nothing. This is a mindset I cannot relate to.
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Old Today, 10:29 AM
 
Location: NC Piedmont
3,979 posts, read 2,907,089 times
Reputation: 6377
Quote:
Originally Posted by lottamoxie View Post
Is that true?

Top Givers in the U.S. (*not a full list & not in order)

- Buffet
- Gates
- Bloomberg
- Zuckerberg
- Walton Family (Walmart)
- Dell


They fund initiatives in education, healthcare, hunger, agricultural development, women's economic development, environment, their local communities (disaster relief) to name just some.
Yes, it's true. I don't mean just the tiniest percentage at the very top. Besides that, your list has nothing on it about fixing core problems with the system. Voluntary giving won't get us there.
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