31% Of Americans Have No Retirement Savings At All (cousin, troubles, music)

[TuborgP]

Originally Posted by freemkt

Not only that, they have skill requirements I don't meet.

Do you have Asperger's syndrome?

[Ultrarunner]

Originally Posted by anifani821

And there you have it.My parents, for example, qualify for all sorts of senior services, including home assessment that allows for additional insulation, possibly new windows (now that program may not be in place, but 10 years ago, they qualified for it when it was in place and refused to take advantage of it). Same for Meals on Wheels, senior transport services, etc.

Why do they refuse? Because they feel it is morally wrong to accept subsidized services when they can figure out a way to pay for those services out of pocket. And most of all, they believe you make your own way and if that means "doing without" - then you do without. They will "do without" while still tithing to their church, b/c to them, that is what it means to be a responsible human being.

You "give back" to your community and you don't ever "take away" anything that you can either scrape up the money to pay for yourself or forego. And their peers are very much of the same mindset.

I grew up hearing my father recite "Esse Quam Videri" - our state motto. "To be rather than to seem (to be)."

You have what you have worked to have . . . and you make do with what you have. You don't live over your means and you don't take more than you give, and you give your fair share, for as long as you are able to give.

Not many folks think that way these days, but that IS what NC used to be like, anyway.

My Grandparents and parents are like this... both Grandparents worked until they could no longer work...

My Step Grandfather worked to age 88 and refused to take Social Security... never took a penny on the principle of leaving it for those that are destitute and had no choice...

Part of it is pride and part is simply the old fashioned work ethic... plus no one in my family has EVER had a pension... that goes for the farming side as well as non-farming.

Still remember market day with Grandmother... it started and ended at the bank... heard her say many times if a person needs to buy on credit... they could not afford to buy.

[ringwise]

Originally Posted by freemkt

Yes when the one IT job for which you are qualified doesn't work out, there's little point in applying for IT jobs for which you're not qualified.

Actually I did apply for a lot of IT jobs during the Y2K craze but that was probably just temporary insanity which was common at that time.

So the answer is yes, you quit. The ONE job you felt you were qualified for, and was filled by someone else, didn't work out. So you stopped applying. Got it.

[Ultrarunner]

Originally Posted by Tryska

here in Georgia we are starting to realize there is a skills gap to support the Film industry we have been cultivating. Se we are starting to see vocational training in construction and electric, primarily. Masonry too.

Not to get too philosophical... my Grandfathers both said a man that has a trade will never go hungry...

One of my friends dropped out of high school and went into the service where he met and married his wife... they live in a very nice home and send their child to a private school... he makes 160k a year as a one man roto-rooter business... well actually husband and wife because she takes all the calls and does the books...

He is one of the nicest guys you will ever meet... I've called him a 1 in the morning and he is on his way.

So here's a guy that makes good money, works for himself with no college education and has not advertised in years... attitude, ability and availability... the 3 "A" of success.

Every year he maxes out his retirement contributions and pays for a disability policy because he is self employed and the sole breadwinner of the family.

[ncole1]

Originally Posted by Emigrations

The biggest benefit I can think of heading toward your retirement years is to be completely debt-free, including the mortgage.

That's going to be hard for a lot of people, especially younger folks who have a lot of student loan debt, those who live in high cost areas, or those without much income.

The best jobs are increasingly consolidating in urban areas, particularly high cost, coastal areas where property is expensive and increasingly unattainable for the average person. Many interior areas of the country where property is cheap have few jobs that pay anything.

Young people that have a lot of student loan debt or cannot find decent work are going to be delayed into home purchases. If you were able to buy a home and have a stable income by age 25, and took out a fifteen year mortgage, one could conceivably be completely debt-free with a paid for by home by age 40, which would lead to considerably more retirement savings.

One of the most difficult things to plan for retirement is a lack of stability, in the employment market, real estate market, and even government policy. I have no confidence that SS will exist when I retire in around forty years, and I also have very little confidence that most employers will continue supporting employee retirement plans. I think we're going to be completely on our own, but the government is still confiscating the money of younger people to pay for current pensioners. We are unlikely to get anything for our "investment."

Isn't that a bit too much black and white thinking? I agree our generation (Millennials) will not get as much in the way of pensions as our parents, when adjusted for inflation, but to say we won't get any at all is quite a bold statement to make. Especially for workers in the public sector.

[Wolfpacker]

Originally Posted by dysgenic

I totally disagree that anyone can save money. In my state someone making minimum wage would not only not be able to save, they wouldn't be earning enough money to pay their basic living expenses. As in, they wouldn't have enough money for food, shelter, health insurance, and transportation to get back and forth from work. If they have children to support, forget it. A person that doesn't make enough money to pay their basic living expenses is not an irresponsible person. They are a person that has gotten totally screwed by a system that will give trillions of dollars to soulless corporations, but won't pay them enough to live a life of dignity and respect. And then on top of that, people like you will then claim that it is all their fault!

People today do not have the same opportunities that prior generations had. It is really sad.

If you have children and are earning minimum wage (and outside of losing a big job), you are irresponsible.

Originally Posted by TuborgP

The interesting thing is that most of the stories I see about folks working minimum wage jobs in their forties and fifties who always had minimum wage jobs had some sort of sporadic work history with multiple interruptions, usually caused by drugs, alcohol or jail.

I usually see 20-and-30 somethings with children (usually single parents) to support...children they couldn't support in the first place.

Originally Posted by dysgenic

I totally disagree that anyone can save money. In my state someone making minimum wage would not only not be able to save, they wouldn't be earning enough money to pay their basic living expenses. As in, they wouldn't have enough money for food, shelter, health insurance, and transportation to get back and forth from work. If they have children to support, forget it. A person that doesn't make enough money to pay their basic living expenses is not an irresponsible person. They are a person that has gotten totally screwed by a system that will give trillions of dollars to soulless corporations, but won't pay them enough to live a life of dignity and respect. And then on top of that, people like you will then claim that it is all their fault!

People today do not have the same opportunities that prior generations had. It is really sad.

If you have are earning minimum wage (and outside of losing a big job) and have children in the process, you are irresponsible. People DO have the same opportunities, they are just different. You adapt to the market.

Originally Posted by freemkt

??? I worked at one convenience store where everyone was paid within 20 cents of minimum wage; we had a half dozen lifers who had worked there continuously a decade or longer.

Point? People who were content with working unskilled jobs and no desire to better themselves. Then whine they aren't paid enough? How am I suppose to feel bad for these people?

Originally Posted by dysgenic

On the flip side, if the government or banks would loan to small businesses, the opposite would happen. Small businesses would buy more equipment, hire more workers, industries would be created, etc etc.
Of course I would not advocate that these loans be made via compound interest, but simple interest.

If businesses are able to pay it back or back them up with assets, they usually can get these loans.

Originally Posted by MrWillys

I graduated high school with my friend Frank who worked at a grocery store as a checker. I joined the Carpenters union, and he was in the retail clerks union. We both made about the same amount. My union continued to negotiate wage and benefit increases while his was taking a beating from the Walmart ideal, and the perception that less is somehow better. Eventually they were beaten to a two tier status with new employees starting with lower wages, and less benefits. This allowed the employer to force out the older employees in favor of lower wages. Frank managed to keep his Job, and is still working at half of current Carpenter wages.
This perception that people who perform certain tasks don't deserve a wage and benefit package is foolish, and will create generations who will live in poverty. This can already be seen in Southern states where labor is not respected, and will spread throughout the nation unless this trend is reversed. I consider myself lucky to have grown up in an area that respects labor.

A retails clerk union? The problem isn't that employers pushed him out...the internet did.

Originally Posted by MrWillys

Is this an attempt at a credible argument about the thread topic? Please expound on why people shouldn't have a family? Are you saying people that work at Walmart shouldn't have kids?

Having children is a responsibility, not an entitlement. I would argue that a lot of poverty and education problems would dramatically improve if people stop having children they can't afford and aren't willing to raise. It's like morons who argue we need to throw even money at education, yet they aren't willing to attack the parents for being crappy parents.

Originally Posted by MrWillys

Where in the Constitution does it say only the affluent can afford children? Honestly, that's the basis of this argument. To say that poor people shouldn't be allowed to have children is a flawed ideal.

Where in the Constitution say that others should take care of you for your decisions?

[Travelassie]

Originally Posted by Bideshi

I used to work at the airport in Katmandu where a beggar kid hung out asking to run any small errand for a few paisa. He always reliably carried out those tasks and was given a regular job as a peon where he became known for being punctual and reliable. He worked for me later and was indispensable dealing with customs, flight ops and refueling. He knew everyone there and could get just about anything done. He also caddied at the golf club, became a good player himself, became a golf instructor, and eventually club manager. He sent all of his children to top Indian schools and got them good starts in life. He is retired in a beautiful home today and has no material worries. I had every advantage starting out in life (just being born an American is a huge head start). He started with nothing, but caught and passed me over the years through hard work, integrity, and determination. I am rightly humbled, and thankful that I knew such a man and can call him friend.

Clearly, your friend was just "lucky"... ( entirely tongue-in cheek) In actuality, that man illustrates the value of hard work and perseverance, and making his own way. These concepts apparently elude the consciousness of some of the posters here. Wonderful to see his efforts paid off.

[old_cold]

Originally Posted by ringwise

So the answer is yes, you quit. The ONE job you felt you were qualified for, and was filled by someone else, didn't work out. So you stopped applying. Got it.

And the one career he wanted didn't work out so working at a convenience store is better.(refusing advances, no thank you, don't want to move up to manager.My god! Who wants that stress!!)
The one house in the one town in the one state that he wanted couldn't be subdivided off so it's a one room rental forever.
Let's hope the room is big enough for all the Kleenex boxes it must take to wipe all the tears.

[freemkt]

Originally Posted by TuborgP

Do you have Asperger's syndrome?

No idea. Do those folks have a skills gap?

[bUU]

Originally Posted by Wolfpacker

One thing I've been reading is a lot of people are more kids out of wedlock these days when they aren't in a position to afford them to start with.

Reading about something isn't the same as evidence of correlation. And correlation is not causation. So you have a long road before you if you want to make that into a legitimate point.

Originally Posted by Wolfpacker

Having children is a responsibility, not an entitlement.

I don't have a problem with things being that way, but it isn't the way it is. Having children is both a responsibility and an entitlement, even if you or I don't like it.

Originally Posted by Wolfpacker

Where in the Constitution say that others should take care of you for your decisions?

That's a nonsensically corrupt way of expressing what is being discussed. If you cannot discuss the matter with integrity, there's not much reason to believe that you'll acknowledge answers to what you've posted with integrity.

This is a society. There is such thing as civic responsibility - the responsibility for society (not individuals) to make up for society's own failures to give everyone the opportunity to pay their own and and secure their own future. Even if they're old and poor and you don't really care about them, yourself.