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Life happens: Job loss, divorce, illness, car crashes, stock market crashes, theft, rotten kids, water heater fails, car transmission blows up, no raises to deal with rising rents etc.
People are going to start saving next month...but next month is the same old stuff.
And then you get to 60....
And your job moves to Mexico.
This is why many people end up relying on just Social Security after they can no longer work.
Life happens: Job loss, divorce, illness, car crashes, stock market crashes, theft, rotten kids, water heater fails, car transmission blows up, no raises to deal with rising rents etc.
People are going to start saving next month...but next month is the same old stuff.
And then you get to 60....
You nailed it. Most people are thinking about today, not several decades down the road. Unfortunately "several decades down the road" turns into "today" faster than we realize.
Among the many other things it does, Social Security protects us from ourselves (which is one reason I'm glad we have it).
I don't understand it. A recent report stated atleast half of the American population has less than $5000 saved by age 60. That's retarded. How can one spend 20 to 30 years working and have less than $5000 saved by age 60(the start of ones later years). Don't say IRS; they will work with you on tax issues so you can keep saving.
Even if you do no investing, Just putting $100 away under your bed each month for 15 years will net you $216,000 at year 16 so what's up with these people then that they have so little.
Must we have yet another thread on how stupid (that's the pc term) people are for not saving? What's being added here that isn't already in several still-active threads - they aren't being bashed enough in those?
OP: Why do you care how much or how little other people have?
It is none of your business what others do with their money, how they live their lives, how they spend their money, how they don't spend their money and exactly what they do with whipping cream in a can.
Almost every thread is about someone else and their money,
move on already,
find a new hobby,
tend to your own life and money,
keep your nose and the rest of you out of others business and whipping cream in a can.
Because is has a negative impact on society and to address that the governments take actions that raise taxes for those that earn and did save.
Well for one most people have jobs their wholes lives not actual "careers".
Three bricklayers were asked what they were doing.
One said, "I am laying bricks".
The second said, "I am building a church".
The third said, "I am building a House of God".
Three workers. One had a "job; one had a "career"; one had a "calling".
Which one of those three you become is up to you. If Kat Cole can progress from Hooters waitress to executive vice president, and then on to become COO of Cinnabon, then maybe we all can do better. I expect that Kat never had a "job".
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