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Old 02-14-2020, 07:10 AM
Status: "Make it a cheeeese burger" (set 7 days ago)
 
Location: The Triad (NC)
29,769 posts, read 65,193,600 times
Reputation: 34770

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Quote:
Originally Posted by raggedjim View Post
I suggest people who can not prove to the IRS they have a savings balance of $1,000 dollars
be "supported" in the efforts to save by ...
Nonsense. Tuck a Twenty into an envelope every week for a year and they're done.
Most should be able to accomplish this before they're age 16.

Quote:
Originally Posted by Threestep2 View Post
And how do you suggest this forced savings to be administered
and who is to pay for it?
The individual is the ONLY one who can be expected to do any of these things for them.
No one can expect anyone or any 'agency' to do it for them.
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Old 02-14-2020, 08:32 AM
 
Location: Kentucky
707 posts, read 384,255 times
Reputation: 2824
Quote:
Originally Posted by MrRational View Post
Nonsense. Tuck a Twenty into an envelope every week for a year and they're done.
Most should be able to accomplish this before they're age 16.

The individual is the ONLY one who can be expected to do any of these things for them.
No one can expect anyone or any 'agency' to do it for them.
My statement was tongue in cheek, posted to ruffle feathers. That said, some do not want to take responsibility for their own future and prefer to gripe about how unfair life is. But if we leave the decisions on how to address problems to people who have made their fortunes on the taxpayers labor then the solutions may (would) be distasteful.

Good luck, Rg
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Old 02-14-2020, 09:33 AM
Status: "Make it a cheeeese burger" (set 7 days ago)
 
Location: The Triad (NC)
29,769 posts, read 65,193,600 times
Reputation: 34770
Quote:
Originally Posted by raggedjim View Post

But if we leave the decisions on how to address problems to people who have made their fortunes...
How about if "we" just say the same things those people will advise their own kids to do?
None of it is new information: Save. Pay yourself first.
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Old 02-14-2020, 01:26 PM
 
4,508 posts, read 3,306,134 times
Reputation: 4314
https://www.marketwatch.com/story/96...let-2013-04-12


This article is pretty stale being from 2013. Economy was clawing back from the recession and the auto market needed to move cars. 7 years ago, the average car note was 6.5 years. My last two cars have been a 36 month and a 30 month. I hate car payments more than anything.


It's not unheard of to go to any dealer and get offered 72 months over 60 months. A 6 year car note is pretty much the new norm. Depending on cost of vehicle, and individual's creditworthiness, you can open yourself up to 72, 84, and 96 month financing. Vehicles stay on the road longer and have much longer time frames for any major service. I believe Honda has vehicles that can go 100k miles before any major service, besides oil changes.


In order to meet the taste demand of your consumer, you have to be able to meet them at a price point that they can get approved for. Truthfully, risk is still pretty low on a 72 month car note. Most will trade the vehicle in after 36 or 48 months. For many consumers, a nice car is a status symbol. They'll make their car payment before anything else. They can take their car anywhere. However, unless you have a mobile home, it's stationary. With a car you can impress wherever you go.
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Old 02-15-2020, 10:38 PM
 
5,106 posts, read 3,119,968 times
Reputation: 4765
Impress who? The type of people impressed by expensive purchases seem likely to be poor decision-makers themselves.
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Old Yesterday, 02:55 PM
 
1,400 posts, read 657,983 times
Reputation: 1631
^ seems like you answered your own question. Impressing their peers.
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