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Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
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Quote:
Originally Posted by Sharpydove
That's the victim mentality. If you are "working your butt off" and are still poor, you made some bad choices along the way.
You missed my point entirely. I'm talking about living on 50% or less of what you earn. For the median worker, that would only be enough money to share a one bedroom apartment with other people if you lived on that little of your income
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by snowtired14
How do you make a leap like that? It's about financial management, it may mean a smaller house or apartment, an older car, a few less toys, it's a part of learning to be mature. If your making good money, you can learn to live within your means, that doesn't have to mean living in destitution. If you end your work life with some funds in the bank, who will be poor then?
Honestly, I'm talking about living on 50% or less of your net income. Since the median worker grosses $30k/year, that is about $2000/month take home. Try living on $1,000/month or less.....
You all want to rely off your 401K. Lol. That will save you, right?
You want your McMansion and your Mercedes SUV.
NEWS FLASH.
First of all, as we get closer and closer to technological singularity, almost all jobs previously performed by human labor capital will be replaced with technology.
The banks know this. 30 years??? Lol. You think you will be able to continue making payments on your overpriced home for 30 years???
No, the banks will take your house because 30 years at the rate technology is "improving" is a VERY, VERY long time.
Instead of focusing on the fundamentals like health, safety, and a decentralized society predicated on a sustainable infrastructure, you wanted it all!!!!
You wanted EVERYTHING NOW!!!!
Well, now the future gets NOTHING. Well, you will get OLD. And you will be abandoned at a time when you are at your WEAKEST.
This is what YOU wanted!!!
Lol.
Many of you are not afraid. You should be. Coming soon to an economy near you...an OIL SHOCK!!! Won't that be stupendous!!!
This. While GOOD JOBS with benefits are scarce for most over 40 people, big box stores scoop over 40 year olds up. They often get an overqualified person who shows up every day and can work without having the manager sitting over their shoulder the whole time.
There is of course jobs like Uber and Task Rabbit where your labor would not be intensive. Or what about temp agency. No one cares what age you are when you are there for 6 weeks? Many temp agencies offer their own health insurance for the temps if you work a certain number of hours per year.
No your not going to be able to maintain your 60K job per year over a certain age. But you won't be at the train station with a cup and a sign either.
You missed my point entirely. I'm talking about living on 50% or less of what you earn. For the median worker, that would only be enough money to share a one bedroom apartment with other people if you lived on that little of your income
Exactly. Upthread there is a response about someone being in assisted living. That is a luxury. I would never do that unless I had an insurance which would pay for it. It is MUCH cheaper to get someone to come into your own home. That can be had for a cost like 10K per year (plus there is home health insurance -- but medicaid pays for a lot of it) while assisted living is something like 15K per month. My mother got lifeline at home and a stair chair on the state for free. She also got assistance with shopping and medical appointments -- for basically free.Because Medicare knew the cost to keep her in her home was well worth it.
You don't have a right to assisted living. Not on my dime.
I am starting to think yes. They love to convince a subgroup that they are being treated badly and then promise them they will make it right.
But when you think of how elderly were treated pre 1930s.. now that was bad.
Medicare pays none of that stuff. https://www.medicare.gov/coverage/long-term-care.html
"Medicare doesn’t cover long-term care (also called custodial care), if that's the only care you need. Most nursing home care is custodial care."
Also, the average cost of assisted living in the U.S. is roughly $3,600 a month, or about $43,500, according to Genworth’s latest Cost of Care Survey released in June 2016. Nor does Medicare pay for assisted living. I don't know who you think is in assisted living on the taxpayer's dime. https://www.caring.com/articles/cost-of-assisted-living
I don't know how your mom's care was paid for, but it wasn't via Medicare.
Add: The average cost for non-medical in-home care in 2017 is $20/hr. If you need 24 hour care, that is $480/day, about the cost of a nursing home, and the NH also provides meals and licensed health care providers as well. Please note the caregiver does not usually get this entire amount, if s/he works for an agency. "There are many misconceptions around Medicare’s benefits for home care. Medicare does not pay for non-medical care, period. Therefore, assistance for non-medical care provided in the home is not covered. Medicare Supplemental Insurances cover Medicare co-payments and deductibles but do not add new areas of coverage. Therefore, these policies are of no assistance for non-medical home care.
Home health care, on the other hand, when considered medically necessary is covered, at least in part, by Medicare and other health insurance programs. However, Medicare severely restricts coverage to only those individuals who are “homebound”. This is defined as persons who require assistance (by human or medical equipment such as wheelchairs) to leave their homes." https://www.payingforseniorcare.com/...home-care.html https://www.payingforseniorcare.com/...home-care.html
Last edited by Katarina Witt; 10-02-2017 at 08:07 AM..
Honestly, I'm talking about living on 50% or less of your net income. Since the median worker grosses $30k/year, that is about $2000/month take home. Try living on $1,000/month or less.....
Where are you getting your numbers? The US median income is >$50K, and where are you coming up with 50%????? If YOUR income is $30K, then that's all you have to work with, where do you want to be in X years and at what age do you expect to retire? If you can't figure it out, seek out someone who can help you plan for it.
What I am seeing is older employees, say 50 plus, (check the Work & Employment section here at C-D) here where I am, are being replaced because they have reached a point with their wages that dumping them is financially beneficial. It is very hard then for them to find a job that pays that much, if they can find a job at all. That drives down their social security earnings................
It was interesting when we were in Tucson in the 1990s. They hired senior citizens for many jobs there. They were working retail and fast food. They actually show up, give service with a smile and appreciate having a job versus many of the "younger" generation. They now fill the jobs that teens used to fill before their parents gave them everything that teens used to have to work to get.
Most older people are better educated and have a better work ethic, not all, but for the most part, that is true. Hopefully employers will learn this as time goes on.
I know a LOT of people that lost thousands in the stock market, I was not one of them as I prefer a "bird in the hand" rather than "2 in a bush".
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by snowtired14
Where are you getting your numbers? The US median income is >$50K, and where are you coming up with 50%????? If YOUR income is $30K, then that's all you have to work with, where do you want to be in X years and at what age do you expect to retire? If you can't figure it out, seek out someone who can help you plan for it.
HOUSEHOLD median is $50k, NOT individual. The median INDIVIDUAL is earning about $30k/year! How many times do I have to explain the difference between household and individual/per capita?
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,604,784 times
Reputation: 9169
Quote:
Originally Posted by snowtired14
Where are you getting your numbers? The US median income is >$50K, and where are you coming up with 50%????? If YOUR income is $30K, then that's all you have to work with, where do you want to be in X years and at what age do you expect to retire? If you can't figure it out, seek out someone who can help you plan for it.
I earn $52k/year right now gross, or about $36k net.
Once again, median INDIVIDUAL/PER CAPITA is about $30k gross or $24k net
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