f7ben Posted March 19, 2020 Share Posted March 19, 2020 Just now, Highmark said: You are wrong. People can save. They just need to limit their spending. I do agree in higher COL area's than mine it would be much, much more difficult. Have you ever listened to a second of Dave Ramsey's show? Amazing what people can do when they put their mind to it. Right....people should live like god damned slaves so corporations can make record profits. Seriously....fuck you Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 7 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. Very true. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 1 minute ago, f7ben said: We were talking about in retirement without bills. 5k per month while paying for a home and raising a family and trying to have any life at all is total poverty $4k per month in retirement is bordering on poverty. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 9 minutes ago, AKIQPilot said: $4k per month in retirement is bordering on poverty. Per person? Easily done in Wisconsin. And live well. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 (edited) 6 minutes ago, spin_dry said: Per person? Easily done in Wisconsin. And live well. Per family or couple. Edited March 19, 2020 by AKIQPilot Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted March 19, 2020 Share Posted March 19, 2020 They should be giving interest free loans to people not banks this time. Quote Link to comment Share on other sites More sharing options...
GGNHL Posted March 19, 2020 Share Posted March 19, 2020 (edited) 7 minutes ago, spin_dry said: Per person? Easily done in Wisconsin. And live well. Yeah no doubt, my grandparents get $5,000 per month combined from their IRA's and social security and they have a house on the lake, two nicer vehicles, snowmobiles, pontoon boat, go on trips, etc. They just had everything paid for before coming into retirement. No payments you have a lot of free cash flow. Edited March 19, 2020 by GGNHL 1 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 2 minutes ago, AKIQPilot said: Per family or couple. That wouldn’t be much fun. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, spin_dry said: That wouldn’t be much fun. 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. 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 Just now, 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. I dad grew up in the depression. I think he does a yr on $4k Quote Link to comment Share on other sites More sharing options...
Anler Posted March 19, 2020 Share Posted March 19, 2020 27 minutes ago, Highmark said: You are wrong. People can save. They just need to limit their spending. I do agree in higher COL area's than mine it would be much, much more difficult. Have you ever listened to a second of Dave Ramsey's show? Amazing what people can do when they put their mind to it. 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 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 Just now, 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. That’s an issue people need to take into consideration. Inflation and col down the road. Many live on the borderline right now. It’s going to get harder for them in the future. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 4 minutes ago, steve from amherst said: I dad grew up in the depression. I think he does a yr on $4k A year on 4k? Like $12/day Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 4 minutes ago, steve from amherst said: I dad grew up in the depression. I think he does a yr on $4k Lol. I remember my father in law. That guy was a McGiver when it came to recycling stuff. 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, AKIQPilot said: A year on 4k? Like $12/day Pretty much. last 3 woman he dated dumped him because he was too cheap,lol 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted March 19, 2020 Author Share Posted March 19, 2020 1 minute ago, AKIQPilot said: A year on 4k? Like $12/day None of us really know the pain those people endured, nor the resourcefulness. 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, spin_dry said: Lol. I remember my father in law. That guy was a McGiver when it came to recycling stuff. This guy just dosnt spend money. Never had it to spend until he sold his house. I think he still has 95 % of that money left. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, steve from amherst said: Pretty much. last 3 woman he dated dumped him because he was too cheap,lol Well 4k per year is like 10 times lower than poverty. He does nothing. How does he afford to drive or afford insurance or property taxes or medical expenses or electricity or heat or food. $4k/year is a horrible existence. 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, AKIQPilot said: Well 4k per year is like 10 times lower than poverty. He does nothing. How does he afford to drive or afford insurance or property taxes or medical expenses or electricity or heat or food. $4k/year is a horrible existence. He is 93 . ( 94 next week) He lives in elderly housing in the town he paid taxes in for 50 yrs. Paid cash for his car and drives maybe 2500 miles a yr. On Medicaid with no supplement. Takes 0 medications. goes to DR once a yr for a physical. Dosnt drink , smoke, gave up gambling 40 yrs ago. 1 Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 Just now, steve from amherst said: He is 93 . ( 94 next week) He lives in elderly housing in the town he paid taxes in for 50 yrs. Paid cash for his car and drives maybe 2500 miles a yr. On Medicaid with no supplement. Takes 0 medications. goes to DR once a yr for a physical. Dosnt drink , smoke, gave up gambling 40 yrs ago. Oh. So who is paying for his assisted living? That runs from $6000-$10,000 per month depending on the area. 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, AKIQPilot said: Oh. So who is paying for his assisted living? That runs from $6000-$10,000 per month depending on the area. He isn't in assisted living. It's elderly housing , not assisted living. It,s a 1 bedroom apt that cost him probably under $400 a month.If that. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted March 19, 2020 Share Posted March 19, 2020 5 minutes ago, steve from amherst said: He isn't in assisted living. It's elderly housing , not assisted living. It,s a 1 bedroom apt that cost him probably under $400 a month.If that. So $4800 per year? Either way, he is living in total poverty. He probably prefers it this way but its poverty none the less. 1 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 19, 2020 Share Posted March 19, 2020 20 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 Amazing really. 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, AKIQPilot said: So $4800 per year? Either way, he is living in total poverty. He probably prefers it this way but its poverty none the less. TRuth be told. It is all he has ever known. And wouldn't even let me buy him a new winter coat last week. Even after I explained that they would be on sale this time of yr. As he says " all I need is oxogen, and that's free " 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 36 minutes ago, spin_dry said: Per person? Easily done in Wisconsin. And live well. Agreed....especially if your large cost items like home is paid off. Quote Link to comment Share on other sites More sharing options...
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