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And having saved money will protect you from the adverse effects of job loss. Saving money should be job 1 when you are working. From the very first paycheck, 15%-20% of your net should disappear into savings until 1-2 years of income is in the bank and ready for the adversities that can befall you. If you can't afford to do that, you already made bad decisions that need to be corrected.
Once you implement this program, you also get ancillary benefits psychologically. A feeling of strength and control. And if you hate the job at some point, you literally can walk on a moment's notice. That just feels good.
Individual rights? There is no individual right like 2 years of salary in the bank. The psych benefits accrue as soon as you start saving. It really is magic and everyone should try it for 3 months. Just stop buying crap and put 20% of your paycheck in dry dock. Establish this habit when you are in your twenties, stick to it like glue. Tremendous power and happiness will be yours by the time you are 35.
That's a little harder for men especially if they plan to date
You keep bringing up compassion, and I keep reminding you that there is no compassion in making demands on people with the threat of violence.
Misfortune does not create rights and does not grant privilege. You are required by common sense to prepare for the uncertainties in life. For the vast majority of people, that is easily accomplished with planning, saving, insuring, and doing things in the right order. You get insurance for the accidents and illnesses and that's that. And yes, you are required to actually read and understand the policy before relying on it. Good policies are available, it is up to you to find them.
If some random hell penetrates all that, it is time to ask others for help. Such an event will of course be very, very rare. But the moral response will be to ask for help, not demand it, and not presume that it is owed to you.
It is not "blaming" the victim to observe that being a victim does not create rights or privileges.
First off, you never brought up the "threat of violence" previously in any posts. If you did, I apologize but it wasn't overt reference of a "threat of violence." Also how is asking to show compassion a "threat of violence?"
Second off, who said they were "demanding" anything, I'm asking for you to act like Ebeneezer Scrooge from the end of The Christmas Carol, not the ways that he was before the ghosts made their Christmas Eve visit.
Third off, Let's look at the uncertainties of life:
Get fired because of massive layoffs in your division.
Company goes under and your job is gone.
Your company is bought out and your job is redundant so they keep the person with your job duties from the purchasing company.
Get raped by a sexual predator causing STIs, pregnancy and several mental health issues IF it's not a rape/murder.
Get a rare case of flu causing illness, even death.
Get hit and/or run over by a car causing injuries, even death.
Get into an accident because the driver was impaired causing injuries, even death (oh and your car is totaled and you'll need to cover repair or replacement costs not covered by insurance.)
Get cancer causing major illness, even death.
Get shot causing severe injured, even death.
Your house burns down causing smoke inhalation, even death (oh and your home is gone and you'll need to cover home costs not covered by insurance.)
Freak weather system destroys your house which you'll have to replace yourself (in most cases insurance is stingy, just look at Super Storm Sandy.)
A bomb goes off causing injuries, even death.
Yeah, these are all events that we can predict and anticipate. FYI, I live in Arizona and we had a hundred year flood and a thousand year flood within a week of each other during monsoon season. The floods are in common BUT not the magnitude we saw within days of each other. Some places even got double hit and already hit their claim from a week ago (the same happened with the snowstorm follow Super Storm Sandy.) I am so sure many of them haven't had fights with insurers because of hitting a cap within the year.
Edit:
Quote:
Originally Posted by Marc Paolella
And having saved money will protect you from the adverse effects of job loss. Saving money should be job 1 when you are working. From the very first paycheck, 15%-20% of your net should disappear into savings until 1-2 years of income is in the bank and ready for the adversities that can befall you. If you can't afford to do that, you already made bad decisions that need to be corrected.
Once you implement this program, you also get ancillary benefits psychologically. A feeling of strength and control. And if you hate the job at some point, you literally can walk on a moment's notice. That just feels good.
Individual rights? There is no individual right like 2 years of salary in the bank. The psych benefits accrue as soon as you start saving. It really is magic and everyone should try it for 3 months. Just stop buying crap and put 20% of your paycheck in dry dock. Establish this habit when you are in your twenties, stick to it like glue. Tremendous power and happiness will be yours by the time you are 35.
OK I somewhat agree with saving but for one, most people today make less or if not effectively make less because of wages compared to cost of goods. Also saving 2 years of salary will take about 3/4 years at the least to equal with all the needed elements of car, health, home/renters even life insurance, cost of shelter, transportation and goods.
Last edited by mkpunk; 10-14-2014 at 11:02 PM..
Reason: added and clarified
First off, you never brought up the "threat of violence" previously in any posts. If you did, I apologize but it wasn't overt reference of a "threat of violence." Also how is asking to show compassion a "threat of violence?"
Second off, who said they were "demanding" anything, I'm asking for you to act like Ebeneezer Scrooge from the end of The Christmas Carol, not the ways that he was before the ghosts made their Christmas Eve visit.
Third off, Let's look at the uncertainties of life:
Get fired because of massive layoffs in your division.
Company goes under and your job is gone.
Your company is bought out and your job is redundant so they keep the person with your job duties from the purchasing company.
Get raped by a sexual predator causing STIs, pregnancy and several mental health issues IF it's not a rape/murder.
Get a rare case of flu causing illness, even death.
Get hit and/or run over by a car causing injuries, even death.
Get into an accident because the driver was impaired causing injuries, even death (oh and your car is totaled and you'll need to cover repair or replacement costs not covered by insurance.)
Get cancer causing major illness, even death.
Get shot causing severe injured, even death.
Your house burns down causing smoke inhalation, even death (oh and your home is gone and you'll need to cover home costs not covered by insurance.)
Freak weather system destroys your house which you'll have to replace yourself (in most cases insurance is stingy, just look at Super Storm Sandy.)
A bomb goes off causing injuries, even death.
Yeah, these are all events that we can predict and anticipate. FYI, I live in Arizona and we had a hundred year flood and a thousand year flood within a week of each other during monsoon season. The floods are in of common BUT not the magnitude we saw within day of each other. Some places even got double hit and already hit their claim (the same happened with the snowstorm follow Super Storm Sandy.) I am so sure many of them haven't had fights with insurers because of hitting a cap within the year.
Just can't understand why some people are so high and mighty and have no idea what will happen to them in the future. No one can predict being sick or having a unexpected car accident that will drain money out of a savings account.
That's a little harder for men especially if they plan to date
OK, so let's say 15% for savings and 5% can go in the dating budget. I would also guess that guys who follow this kind of discipline financially will tend to organically expand it to include things like working out and learning new skills. The psychological benefits of controlling your destiny are massive. And it all starts with money, because what is money? Time. And what is time? The ultimate limiting factor.
Just can't understand why some people are so high and mighty and have no idea what will happen to them in the future. No one can predict being sick or having a unexpected car accident that will drain money out of a savings account.
You don't have to predict it, you just have to afford it and survive it. It's called reality, and unexpected adversity is normal and common and should be planned for. Savings and insurance take care of that. But only if you save and insure.
Murder, rape, Ebola, cancer, ALS, whatever. We're all going to die of something.
If you plan and execute when you are not sick, your plan will execute when you are sick.
Don't Google that, I just wrote it, credit to me.
Why is that even controversial? Because we've been conditioned by bad philosophy and mysticism to believe in the malevolent universe. But in reality, the universe only becomes malevolent when we become stupid.
That's a little harder for men especially if they plan to date
Only if they plan to date hookers. One piece of advice I always give young men is to check the woman's credit card balances. If she can't live within her income, she won't be able to live within his either. Unrestrained spending is a sickness. Money is a tool. Squandering it is the same as throwing your tools in the ocean. He will be better off looking for a woman who understands responsible living.
Just can't understand why some people are so high and mighty and have no idea what will happen to them in the future. No one can predict being sick or having a unexpected car accident that will drain money out of a savings account.
The key is in having the savings account in the first place. There is no reason to become delinquent on payments just because something adverse happens. Besides a savings account, it is important to carry only essential debt. A mortgage, yes. Credit card debt or consumer loans like car payments, no. Save your money and buy what you can afford. If you can't pay cash, you can't afford it. Then when adversity strikes you won't be delinquent on payments because you won't have any. The mortgage is different, because you have to live somewhere. Hopefully you bought well within your budget and can make several months of payments out of savings while you recover from the adverse event.
There are a lot of people out there who want to sell debt. Don't buy it. It's a bad deal.
It's all a plot to keep people poor- and out ---some states it's illegal- some states are working on it and in Canada absolutely-- cannot pull your credit for work. I know folks whose life completely went bonkers due to multiple accident and death in their family within 3 mo credit was ruined! They both had great work ethics and after 10 hard years -now back in place- I say the credit bureaus run by banks are full of it. Just another ploy...
Your article is over 5 years old, and was written before implementation of the Affordable Care Act. One of the results of everyone having medical insurance is that they no longer will be dumping the expense on everyone else.
How convenient of you to only comment of the older of the two links I posted.
BS in regards to your comment on the Affordable Care Act. It's not like everyone is covered fairly, like President Obama wanted. It was a compromise and one I am not happy with. Many people are working temporary jobs through staffing agencies who are exempt from what appears to me to be a bad law.
Well we've seen several workers who had to afford this AFTER getting fired or at the time medical coverage didn't cover it so you had to go to out of network doctors and THAT is where you rack up bills. When I was two so 1989, I came down with childhood asthma. My parents HMO at the time didn't treat asthma until age 5 so they couldn't treat me and they had to take me to a out-of-network doctor and I had several bouts in the hospital. My parents were nearly bankrupt until they could change their insurance. Guess what, their emergency fund went to paying for my treatment out of network because the HMO didn't treat it.
Go ahead, build another strawman.
Actually, you just proved my point completely. Your parents used their emergency fund for an emergency. And they didn't actually go bankrupt. It sounds like the emergency fund prevented that. They planned ahead for an emergency and when the time came they were prepared as much as they could be. Care to take another stab at this?
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FYI, I live in Arizona and we had a hundred year flood and a thousand year flood within a week of each other during monsoon season. The floods are in common BUT not the magnitude we saw within days of each other. Some places even got double hit and already hit their claim from a week ago (the same happened with the snowstorm follow Super Storm Sandy.) I am so sure many of them haven't had fights with insurers because of hitting a cap within the year.
