$4 gas (wages, cost of, oil)

[massnative71]

Originally Posted by id77

I don't see any scientific studies out there doing deep dives into exactly which demographic complains about this particular round of gas prices the most, though there's a smattering of polls for general categories like which state is complaining the most. At this time, all knowledge anyone has on this is going to be anecdotal.

That said, the majority of people complaining the loudest in my presence and on my social feeds fall into the group I've already described. They've stated in casual conversation that they do not max out contributions to 401k, ESPP, HSA, and other such savings vehicles; they withhold enough to get their match (if any) then maximize their take-home. They lease/finance a new/new to them vehicle every 2-3 years. Some have mortgages. Several have long-standing credit card debt. They're not poor, but they do tend to live at or beyond their means which also explains why the combination of inflation and gas prices has agitated them so much more.

I would have been inclined to say political leanings are the driving factor in complaining except that some complainers in the group above do not lean right politically and I know some conservatives who don't fall into the above grouping who are not very vocal about gas prices.

People regularly share with you what they contribute to their 401Ks??? That's not something generally considered to be one's business but their own. Now anecdotally, one of the people I know who vents the loudest over gas prices, also constantly brags about the size of his portfolio and how much money he's made over the years (according to him anyway, he was a millionaire by his mid-30s). Big time keep-up-with the Joneses, as you would call it.

[massnative71]

Originally Posted by msRB311

If so many people here don't care about the price of gas going up why are you so interested in the ones who do care?

Just seems like this in another humble brag from the same people at this forum. Oh, i'm doing so well in life that gas could go up to $10 a gallon and i won't care.

Many people, regardless of how much they are putting into a damn 401k are annoyed about the price of gas and everything else going up.

My thing is, we knew this was coming. The way this country has been living off of invisible money for 20+ years now (not to mention the last 2), nobody can say we didn't have a heads up on what was ahead. Do I like it, no. But I have trouble getting suddenly angry over the inevitable, like having an engine die on a 10-year-old vehicle you had inherited ("pretty impressive it lasted that long without an oil change!"). Anger would be, when you find out the car you just paid $50K for was a lemon.

[BostonMike7]

Originally Posted by massnative71

People regularly share with you what they contribute to their 401Ks??? That's not something generally considered to be one's business but their own. .

Yes. It's almost somewhat regular conversation with some coworkers and peers as well as family. Certainly not a large sample size, but enough. Less humble-brag, more comparing and improving of various strategies. What to do in terms of market chaos (like now), stuff like that.

Most I know are woefully underprepared, but the discussions do help motivate and offer a teaching moment in terms of how to pick the best funds and such. I know we've motivated a few younger coworkers to bump their contributions up beyond the min to get the match encouraging them to invest more while young. I've helped a few peers that had no access to 401ks start up an IRA and show they how to manage it on their own.

I don't understand why sharing retirement investment strategies would be considered taboo. Most folks I know want help with their portfolios because they have no idea how they work, and making it taboo to discuss isn't going to help with that.

[timberline742]

Originally Posted by porterhouse

What about the people putting $0 into retirement? I think this is probably screwing them the hardest.

Well, look at the brightside. $0.00 doesn't lose value in real dollars.

[msRB311]

I am not sure I understand what 401k contribution really has to do with rising gas prices anyways.

It just seems kind of sickening that people here seem interested in how poor people or people less fortunate than themselves spend money on or get upset about in terms of what prices are rising. Why the interest?

I have to agree that one of the cheapest people I know is a family member of mine who lives off her rich husband. She hasn't worked a day since she got engaged but is disgustingly cheap while living in a 3 million dollar home taking many lavish vacations. She is not happy to spending more on gas I can tell you that.

Who would be ok with rising gas prices? We all get it that there's nothing that can be done about it and it's happening but people are going to talk about it.

We can't do anything about the fact that russia bombed a children's hospital in the Ukraine either but people will complain about that also.

[id77]

Originally Posted by bostongymjunkie

I think this is the first time I've heard someone imply that it's mostly "conservative" people who are more fiscally/personally irresponsible. As someone who grew up in the Democratic party and has seen it evolve over time, I find this comical - to say the least.

Who implied that?

If this is in reference to my post, I actually pointed out data points showing politics is probably not the driver for complaints, and nowhere did anyone say conservatives are less fiscally/personally responsible.

[id77]

Originally Posted by BostonMike7

Yes. It's almost somewhat regular conversation with some coworkers and peers as well as family. Certainly not a large sample size, but enough. Less humble-brag, more comparing and improving of various strategies. What to do in terms of market chaos (like now), stuff like that.

Most I know are woefully underprepared, but the discussions do help motivate and offer a teaching moment in terms of how to pick the best funds and such. I know we've motivated a few younger coworkers to bump their contributions up beyond the min to get the match encouraging them to invest more while young. I've helped a few peers that had no access to 401ks start up an IRA and show they how to manage it on their own.

I don't understand why sharing retirement investment strategies would be considered taboo. Most folks I know want help with their portfolios because they have no idea how they work, and making it taboo to discuss isn't going to help with that.

This. I'm still in touch with several former co-workers with the conversation almost exclusively being around these topics. Roth 401k vs traditional. HSA and ESPP strategies. All very much topics of interest to people who save in them.

It's right up there with people sharing their credit scores and discussing strategies on improving it.

[bostongymjunkie]

My impression probably came from the part "I would have been inclined." Why? And as a matter of reference I don't identify as conservative but am baffled as to why you would be so inclined to even think complaining about cost of gas was politically driven.

[msRB311]

I can't recall the last time I sat down with anyone other than my spouse and talked about their salary and how much they contribute to their 401k. nope

[bostongymjunkie]

Never been a topic of social conversation here either. Maybe fleeting remarks among certain coworkers.