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I don't have a fairy godmother. Thanks you liberalism talking - thinking that the only way people can plan for their retirement is if somebody else gives them money. FYI, I started saving $2000 a year toward my IRA (the limit at the time) back in my 20s, and THAT is why I now have a comfortable retirement. I was responsible. (I know....I know.....liberals hate when people point out they made responsible decisions since it negates the idea that failure is always someone else's fault, and success is never to that that person's credit. )
And you DO NOT need Apple. (I'm assuming you mean for a phone or Ipad.) You can buy a phone or tablet from Samsung for the fraction of the price. You do NOT need the latest and greatest if you don't have $400 in the bank. That's the problem with liberal thinking! You are actually claiming that people who didn't have the discipline to save $400 NEED an iPhone?
And I don't even know what MS is supposed to be.
As far as Amazon, I don't even get the comment. Are you claiming you need a fancy Ipad to order off Amazon? Any tablet would do. A better question is: what are people without $400 in savings buying off Amazon in the first place? More jewelry? Another fancy electronic gadget?
This is the problem. Liberals think that unless a person can afford to buy an iPhone, he's in financial difficulty and thus taxpayers must provide "more" for him. I say, if a person can't afford an iPhone, big deal.
You are talking about IRA being successful in the same breath that you're complaining about people spending too much money on the products from the top companies in the economy?
How do you think your IRA posted its great returns if it's not from these companies posting great financials from people buying their product?
You're IRA returns and people spending money for iPhones and Nikes do not exist in separate bubbles.
These numbers are pretty generous. Home cooked meals, Mint mobile ($15/month), Internet only, would decrease these numbers even more.
I was being generous on purpose, because there's always the "yeah, but that's for that one street/neighborhood/city and nobody lives like that blah blah" rebuttal. It's also why I actually calculated on only 40 hours per week of work, which I personally exceeded with AT LEAST 2 jobs, until my mid 30s? And I still do extra work on a contracting basis right now, at age 52, when my salary is solidly in the 6 figures. There are 168 hours in the week, and I only use about 50 for my day job and another 10 for powerlifting. I have lots of time left over to do other stuff, and sometimes I make a profit with that time.
Quote:
Originally Posted by johnnytang24
I don't know about where you are, but in NE PA, where the cost of living is low, there's help wanted signs everywhere. The home inspector I hired asked me if I was looking for work. The butcher asked. Pay at the gas station or supermarket start at $10+/hour (according to the signs out front).
In NE Ohio, same thing. If you want to work more than 40 hours a week, you can, easily, and you'll be making at least $10-12 an hour almost anywhere that hires you. Even the below minimum folks like servers, bartenders, etc...they actually make more than MW, but for tax purposes they never claim that they do.
Working more than 40 isn't hard, and the jobs are everywhere.
You are talking about IRA being successful in the same breath that you're complaining about people spending too much money in the top companies in the economy?
How do you think your IRA posted its great returns if it's not from these companies posting great financials from people buying their product?
You're IRA returns and people spending money for iPhones and Nikes do not exist in separate bubbles.
You're not even making sense. You're using liberal illogic.
So the "poor" people (or others on some form of government support) bought the products, and that's why my IRA went up, because the company was successful. I get what you're trying to say. But what you're missing is that the money that the poor people spent on the product came from someone else, ultimately. What about the taxes that the other half is spending that ALLOWS the poor people to buy those products? If they didn't have to pay those taxes in support, then THEY would have the money to buy the products.
You're only looking at one side of the equation: the receiving end. (That's what liberals do.) You're not looking at the COST of providing it.
And finally, what about long-term? Why consider only that hey.....people are spending every last cent they have on products and thus helping the economy.....and that ultimately these people without any savings will be retired, and then will be sucking OUT of the economy as responsible savers divert their own savings to help bail them out?
OK, read my links. Including the one that states that 96 percent of people in the US between 18 and 29 have a smart phone.
Is there something wrong with that? They can be had for very little money, and often they come free with the plan. We are getting to a point technology-wise, where you are at a disadvantage if you don't have a smart-phone.
Now, I'm not saying that a 40 year old person shouldn't have $400 cash. But factor in the median savings of a person who is 40 years old. And then remember that 96 percent of all adults under the age of 40 have smart phones, just for the record.
Anyway, here's an interesting study - a breakdown of dollars in savings by age, and this does not include retirement savings - only household accounts in a bank or credit union account:
Quote:
Age 34 and younger
Singles with children: $1,350
Singles with no children: $2,729
Couples with children: $3,682
Couples with no children: $4,727
Ages 35 to 44
Singles with children: $2,422
Singles with no children: $3,693
Couples with children: $10,399
Couples with no children: $5,306
Ages 45 to 54
Singles with children: $4,163
Singles with no children: $5,763
Couples with children: $15,589
Couples with no children: $11,483
Ages 55 to 64
Singles with children: $6,911
Singles with no children: $6,786
Couples with children: $17,587
Couples with no children: $15,722
Ages 65 to 74
Singles with children: $6,652
Singles with no children: $7,292
Couples with children: $13,164
Couples with no children: $15,297
Age 75 or older
Singles with children: $6,909
Singles with no children: $9,981
Couples with children: $8,967
Couples with no children: $16,025
Immediate gratification like food, medications, and shelter?
I don't feel sorry for lazy and the drug addicts. Could care less if the lazy die from starvation it is good for them.
Today I am 71 years old and have worked a part time from 1965 to 1967 and full time from 1967 to today where I am still working a full time job.
In my entire life I collected one week of unemployment only to find it so degrading I swore I would never collect again.
During the first 5 years of marriage I worked two jobs to get the money we needed to build our future together.
Since marriage we never, not once, went without health insurance and sometimes it was hard because there were times it was the biggest bill we had but we always paid it. I made sure it was paid by working two jobs if needed.
When I grew up life was simple... if I didn't work I didn't eat and that is how it should be today. If you can't find a job in today's economy you are worthless.
Your future is yours to build not up to Bernie Sanders or Elizabeth Warren.
I am reminded of a couple where I used to work who always complained how broke they were but they always had money for cigarettes and beer. I know they both smoked and I know he smoked a pack and a half a day so... $12.50 per day (assuming she smoked a pack) is $87.50 per week or $379.00 per month which come out to $4,548.00 a year. That is a lot of money in my book. Over 40 years in a Stifel account how much would you have? That is exactly how you become a millionaire and stay out of poverty.
Another lesson I learned is just because you have it doesn't mean you got to spend it.
Soon we will have millions of Americans receiving IRS refunds and most of them are going to start looking for a place to spend it even before they get it.
Is there something wrong with that? They can be had for very little money, and often they come free with the plan. We are getting to a point technology-wise, where you are at a disadvantage if you don't have a smart-phone.
You're not even making sense. You're using liberal illogic.
So the "poor" people (or others on some form of government support) bought the products, and that's why my IRA went up, because the company was successful. I get what you're trying to say. But what you're missing is that the money that the poor people spent on the product came from someone else, ultimately. What about the taxes that the other half is spending that ALLOWS the poor people to buy those products? If they didn't have to pay those taxes in support, then THEY would have the money to buy the products.
You're only looking at one side of the equation: the receiving end. (That's what liberals do.) You're not looking at the COST of providing it.
And finally, what about long-term? Why consider only that hey.....people are spending every last cent they have on products and thus helping the economy.....and that ultimately these people without any savings will be retired, and then will be sucking OUT of the economy as responsible savers divert their own savings to help bail them out?
A. I don't know how this discussion is just limited to poor people. Someone making 40k can live check to check too, and is included in that 40%.
B. This is why Conservatives are bad for the economy. They don't understand how it works.
C. Purchases made are not replaced by shifting the disposable income to someone else. Would you buy two iPhones just bc you suddenly got extra money? No. Would you buy two TVs for your living room? No. The top companies in our economy succeed bc buying power is spread out.
D. You don't understand how portfolios work if you don't understand that people supporting the companies in your portfolio directly impacts the returns of your portfolio.
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