AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, Highmark said: Agreed....especially if your large cost items like home is paid off. No one said per person. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 22 minutes ago, Anler said: People CAN save but Ben is right. I see it all the time just with my employees and they make pretty decent money. After 1 week without work they are broke. I am constantly being asked to borrow money. Maybe this will be an eye opener That is why I have always paid on Mondays. If they are broke during the week, it becomes my problem. If they are broke on weekends, it stays their problem. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 27 minutes ago, AKIQPilot said: No. But several here think you can live the good life on that kind of money in Retirement. $4k per month per couple in retirement is bordering on poverty. Its bordering on poverty today. Think how fucked up that will be in a decade. $4K after taxes and most large items paid off is NOT living in poverty. Jesus where do you guys live an what do you spend a month. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 1 minute ago, Highmark said: $4K after taxes and most large items paid off is NOT living in poverty. Jesus where do you guys live an what do you spend a month. I probably spend $100 a day , going to work. Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted March 19, 2020 Share Posted March 19, 2020 1 hour ago, Highmark said: Come on Ben....they are not all victims. Most people working a decent job could easily have a couple months raining day fund set aside. If you are laid off you should be eligible for unemployment. Maybe and I mean maybe a bit to cover the gap between the difference in UE wages and actual but the govt doesn't need to take care of everyone wholesale. Oh and FUCK CHINA. We need to make them fucking pay for this. Ben is right. 58 minutes ago, f7ben said: People making 50-60k aren’t saving a dime. No retirement , no rainy day fund....nothing. You are so far removed from lower middle class it’s impossible to see. These people for the most part are poor. I beleive it's 40-50% of the country lives paycheck to paycheck, there were several years when I had a growing family that I lived paycheck to paycheck living in a 1400 SF Georgian on the southside, three boys 2 years part stay at home mom. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, Highmark said: $4K after taxes and most large items paid off is NOT living in poverty. Jesus where do you guys live an what do you spend a month. No one said after taxes. $4k per month for a couple in retirement is bordering on poverty. You arent doing shit if you only have $4k per month coming in. Health insurance alone will eat up 20% of that. Throw in some property taxes and insurance. Throw in heat and electricity and a cell phone and some TV. Throw in groceries and gasoline and car maintenance. Throw in some maintenance on the old ranch. $4/month will be eaten up incredibly fast no matter where you live. You aren't doing anything extra living on that kind of money. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, Mileage Psycho said: Ben is right. I beleive it's 40-50% of the country lives paycheck to paycheck, there were several years when I had a growing family that I lived paycheck to paycheck living in a 1400 SF Georgian on the southside, three boys 2 years part stay at home mom. I lived paycheck to paycheck for 35 years. Right up until the day I retired at 55. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 31 minutes ago, Anler said: People CAN save but Ben is right. I see it all the time just with my employees and they make pretty decent money. After 1 week without work they are broke. I am constantly being asked to borrow money. Maybe this will be an eye opener Not your or the govt's fault. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 My sister makes about $550 a week. Lives alone. Never missed a mortgage payment and always has something in the bank. I have friends that make $3500 and sell a boat come October to be able to buy a sled. A lot comes down to money management. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 19, 2020 Share Posted March 19, 2020 2 minutes ago, steve from amherst said: My sister makes about $550 a week. Lives alone. Never missed a mortgage payment and always has something in the bank. I have friends that make $3500 and sell a boat come October to be able to buy a sled. A lot comes down to money management. ^^^^^This Put it away fist before any discretionary spending. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 3 minutes ago, ArcticCrusher said: ^^^^^This Put it away fist before any discretionary spending. Comes down to spending and priorities. $4000 a month goes a good ways. If you spend less on new clothes and cars you can travel and go out to eat more. Nobody is claiming that $4000 a month in retirement is living high off the hog but it can make for a very comfortable retirement if managed properly. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 17 minutes ago, Highmark said: $4K after taxes and most large items paid off is NOT living in poverty. Jesus where do you guys live an what do you spend a month. Most apartments around here are over $1000 per month. Add in utilities, car payment, gas, food, etc... Yeah that IS poverty here. At any rate you arent saving anything 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 2 minutes ago, Anler said: Most apartments around here are over $1000 per month. Add in utilities, car payment, gas, food, etc... Yeah that IS poverty here. At any rate you arent saving anything Keep in mind I'm looking at it from a perspective where you have some things paid off (home, cars) and live in an area where property taxes aren't killer. A very nice $300K home in my area wouldn't have $200 a month property taxes. I can see living in an apartment or having high property taxes and med expenses draining it quickly. Without question where you live makes a huge difference. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 13 minutes ago, Highmark said: Not your or the govt's fault. Never said it was anyones fault but theirs. Just saying that you really dont know people. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 1 minute ago, Highmark said: Keep in mind I'm looking at it from a perspective where you have some things paid off (home, cars) and live in an area where property taxes aren't killer. A very nice $300K home in my area wouldn't have $200 a month property taxes. I can see living in an apartment or having high property taxes and med expenses draining it quickly. MY prop taxes are $683 a month. My town is expensive. but it's not a big house. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 Just now, Anler said: Never said it was anyones fault but theirs. Just saying that you really dont know people. Dude, 30+ people work on my factory floor. I know people. I know the ones that don't contribute to their 401K's. I know who is overspending. Trust me. I've done it myself. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 Just now, steve from amherst said: MY prop taxes are $683 a month. My town is expensive. but it's not a big house. yep, taxes in Illinois are high. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 (edited) 3 minutes ago, steve from amherst said: MY prop taxes are $683 a month. My town is expensive. but it's not a big house. What's your state income tax? That's more than I pay for my house (which is large), 4100 square foot steel building, 24x24 ft cabin and 280 acres. Edited March 19, 2020 by Highmark Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 Just now, Highmark said: What's your state income tax? none, and no sales tax either , on anything. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, Highmark said: Dude, 30+ people work on my factory floor. I know people. I know the ones that don't contribute to their 401K's. I know who is overspending. Trust me. I've done it myself. $40k where you live is not the same as here. Throw in kids, wife and everything would have to be going your way to make that work. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 1 minute ago, Anler said: $40k where you live is not the same as here. Throw in kids, wife and everything would have to be going your way to make that work. Agreed. My comments were on a retired couple with things paid off. Not a family living on that. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 2 minutes ago, steve from amherst said: none, and no sales tax either , on anything. Yeah that's tough to compare over a lifetime. My state effective tax rate is generally over 7%. We also have a 7% sales tax in this county. Its a bit higher in other surrounding counties. Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 2 minutes ago, Highmark said: Agreed. My comments were on a retired couple with things paid off. Not a family living on that. So you have 30 retired people working on your floor? Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted March 19, 2020 Platinum Contributing Member Share Posted March 19, 2020 Just now, Anler said: So you have 30 retired people working on your floor? Can't separate out the conversations huh? Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 Just now, Highmark said: Can't separate out the conversations huh? We are talking about families living on poverty wages I thought. Not retired gnomes who paid everything off. Quote Link to comment Share on other sites More sharing options...
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