ActionfigureJoe Posted October 28, 2021 Share Posted October 28, 2021 https://www.cnbc.com/amp/2021/10/28/middle-class-americans-face-retirement-insecurity-analysis-finds.html Quote Link to comment Share on other sites More sharing options...
JEFF Posted October 28, 2021 Share Posted October 28, 2021 People can either save for retirement, or have all the latest and greatest stuff to impress their friends and neighbors. It's hard to do both. 3 2 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 28, 2021 Author Share Posted October 28, 2021 6 minutes ago, JEFF said: People can either save for retirement, or have all the latest and greatest stuff to impress their friends and neighbors. It's hard to do both. Living within one’s means is something that many can’t wrap their head’s around. Got to have more fucking stuff. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted October 28, 2021 Share Posted October 28, 2021 5 minutes ago, ActionfigureJoe said: Living within one’s means is something that many can’t wrap their head’s around. Got to have more fucking stuff. “Easy credit financing” is gonna put millions in the poor house when they “retire”. We see it every single day. Hell, it’s SHOWN to us every day! “Check out my new truck! $70k but a killer interest rate!!! I just couldn’t turn it down!!!” 3 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 28, 2021 Share Posted October 28, 2021 (edited) 17 minutes ago, JEFF said: People can either save for retirement, or have all the latest and greatest stuff to impress their friends and neighbors. It's hard to do both. yup, very few can do both. Those who look "rich" most times are not. I see way too many clients even into their 50's with sub 100k in retirement funds. Edited October 28, 2021 by Angry ginger 1 Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 28, 2021 Gold Member Share Posted October 28, 2021 Retirements over rated is what I here from the old parts drivers. “It gets boring so I came back to work” aka I didn’t save enough 😂 I don’t care how boring it is I ain’t going back to work rather cut my lawn 10 times a day. 1 Quote Link to comment Share on other sites More sharing options...
Snake Posted October 28, 2021 Share Posted October 28, 2021 3 pensions... 2 401k.... SS if its still there... And all the toys paid off. 185 days... 4 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 28, 2021 Platinum Contributing Member Share Posted October 28, 2021 If SS allowed for more of your 12.4% to earn decent return people could live better and have a good retirement earlier. This would create more job openings to those coming out of HS and College. Much more wealth could be passed down to younger generations in the MC as well. Quote Link to comment Share on other sites More sharing options...
Mag6240 Posted October 28, 2021 Share Posted October 28, 2021 40 minutes ago, Zambroski said: “Easy credit financing” is gonna put millions in the poor house when they “retire”. We see it every single day. Hell, it’s SHOWN to us every day! “Check out my new truck! $70k but a killer interest rate!!! I just couldn’t turn it down!!!” Going through this right now with the little woman's son who wants to TRADE IN a 2019 Jetta that has a $13,700 buy out 3 months early because he likes the shiny new lure the dealers pushed in front of him.... The damn car is going for $22-$24k on a private sale! If the dipshit could have an ounce of self control, he stand to make an easy $7k on it!! Just a microcosm of what happens to people..... Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 28, 2021 Author Share Posted October 28, 2021 (edited) 37 minutes ago, 800renegaderider said: Retirements over rated is what I here from the old parts drivers. “It gets boring so I came back to work” aka I didn’t save enough 😂 I don’t care how boring it is I ain’t going back to work rather cut my lawn 10 times a day. I tried to work part time in retirement. I now find myself working almost as much prior to retirement. That ends this Friday. Maybe some volunteer work at a clinic, but I’m done with the “part time” shit. The workplace is an understaffed zoo right now. Edited October 28, 2021 by ActionfigureJoe 1 Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 28, 2021 Author Share Posted October 28, 2021 20 minutes ago, Highmark said: If SS allowed for more of your 12.4% to earn decent return people could live better and have a good retirement earlier. This would create more job openings to those coming out of HS and College. Much more wealth could be passed down to younger generations in the MC as well. Doubtful. Quote Link to comment Share on other sites More sharing options...
ActionfigureJoe Posted October 28, 2021 Author Share Posted October 28, 2021 9 minutes ago, Mag6240 said: Going through this right now with the little woman's son who wants to TRADE IN a 2019 Jetta that has a $13,700 buy out 3 months early because he likes the shiny new lure the dealers pushed in front of him.... The damn car is going for $22-$24k on a private sale! If the dipshit could have an ounce of self control, he stand to make an easy $7k on it!! Just a microcosm of what happens to people..... I sold both my BMW’s for what they were worth 4 years ago. The snowblower that I paid $325 for 3 years ago went for $550. I could go on, but you get the idea. Crazy prices on stuff. Quote Link to comment Share on other sites More sharing options...
Mag6240 Posted October 28, 2021 Share Posted October 28, 2021 Just now, ActionfigureJoe said: I sold both my BMW’s for what they were worth 4 years ago. The snowblower that I paid $325 for 3 years ago went for $550. I could go on, but you get the idea. Crazy prices on stuff. Yup, it has certainly gotten out of control, well, that is if you don't pay attention to someone trying to take advantage of you anyway.... Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 28, 2021 Gold Member Share Posted October 28, 2021 1 minute ago, ActionfigureJoe said: I tried to work part time thing in retirement. I now find myself working almost as much prior to retirement. That ends this Friday. Maybe some volunteer work at a clinic, but I’m done with the “part time” shit. The workplace is an understaffed zoo right now. It wouldn’t be for me that’s for sure it’s retirement not half workament. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 28, 2021 Platinum Contributing Member Share Posted October 28, 2021 14 minutes ago, ActionfigureJoe said: Doubtful. Couple who averages $80K over 30 years putting in 12.4% earning 8% would have over $1.25 million saved up. People could retire in their 50's earning good money just off the interest or dividends. Work 38 years (22 to 60) and have over $2.1 million. A small % could be kept out for disability insurance and wouldn't bring those numbers down much. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted October 28, 2021 Share Posted October 28, 2021 1 hour ago, Angry ginger said: yup, very few can do both. Those who look "rich" most times are not. I see way too many clients even into their 50's with sub 100k in retirement funds. Troof. But we’re deep I got the “car poor” way of thinking now. Specifically trucks from what I see with the younger kids now. It’s weird. Just poor decisions making stifling their futures. Smh. Stuck with renting or possibly giving vehicle back to bank to start their real life. When the market corrects….upside down mega city. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 28, 2021 Share Posted October 28, 2021 20 minutes ago, Highmark said: Couple who averages $80K over 30 years putting in 12.4% earning 8% would have over $1.25 million saved up. People could retire in their 50's earning good money just off the interest or dividends. Work 38 years (22 to 60) and have over $2.1 million. A small % could be kept out for disability insurance and wouldn't bring those numbers down much. what are you going to do about the ones who instead don't put it away. The only way the safety net works is to make it non optional and no way to cash it out. While I don't like the return as a saver it's for the huge percentage of the population that have squat saved. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 28, 2021 Share Posted October 28, 2021 1 minute ago, Zambroski said: Troof. But we’re deep I got the “car poor” way of thinking now. Specifically trucks from what I see with the younger kids now. It’s weird. Just poor decisions making stifling their futures. Smh. Stuck with renting or possibly giving vehicle back to bank to start their real life. When the market corrects….upside down mega city. i was making 100k at 23/24 driving a 15k saturn. kids today at income levels way less than that driving 70k pickup. Zero self control. Quote Link to comment Share on other sites More sharing options...
JEFF Posted October 28, 2021 Share Posted October 28, 2021 1 hour ago, ActionfigureJoe said: Living within one’s means is something that many can’t wrap their head’s around. Got to have more fucking stuff. That's the truth. And it runs through all age groups now. 1 hour ago, Angry ginger said: yup, very few can do both. Those who look "rich" most times are not. I see way too many clients even into their 50's with sub 100k in retirement funds. Correct, It's astonishing how many people live streched to the max. Richest man I know looks like your average mechanic. Wears a mechanics uniform every day. He could buy half my town. 15 minutes ago, ActionfigureJoe said: I sold both my BMW’s for what they were worth 4 years ago. The snowblower that I paid $325 for 3 years ago went for $550. I could go on, but you get the idea. Crazy prices on stuff. Everything is selling at crazy prices. 13 minutes ago, Mag6240 said: Yup, it has certainly gotten out of control, well, that is if you don't pay attention to someone trying to take advantage of you anyway.... Someone is ALWAYS trying to take advantage of you. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 28, 2021 Share Posted October 28, 2021 In 30 years America will be a big tent city as a huge amount of the workforce doesn’t save money for retirement. Those who say they can’t ever retire don’t realize their bodies get old and wear out. Plus your replaced in the workforce with someone half your age and salary. You really have no choices at a certain point. Tent city. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 28, 2021 Platinum Contributing Member Share Posted October 28, 2021 3 minutes ago, Angry ginger said: what are you going to do about the ones who instead don't put it away. The only way the safety net works is to make it non optional and no way to cash it out. While I don't like the return as a saver it's for the huge percentage of the population that have squat saved. Keep it regulated or ran by the govt and no way to cash it out but run it much, much differently. Current version's a ponzi scheme at best. It doesn't work because all that money can't earn a decent rate of return. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted October 28, 2021 Share Posted October 28, 2021 Just now, Highmark said: Keep it regulated or ran by the govt and no way to cash it out but run it much, much differently. Current version's a ponzi scheme at best. It doesn't work because all that money can't earn a decent rate of return. I would have no issue with it being invested in the overall market and controlled by the government. That would make way more sense. Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 28, 2021 Share Posted October 28, 2021 Yes sir, they fact insecurity and yet the democrats want to know where 600 bucks goes when it is spent. But they are going to TAX THE RICH. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 28, 2021 Platinum Contributing Member Share Posted October 28, 2021 (edited) 5 minutes ago, Angry ginger said: I would have no issue with it being invested in the overall market and controlled by the government. That would make way more sense. It could be done there just isn't the will to do it. Imagine all that money in the US. Could limit foreign investment from outside the US so more places for it to go. Some of it has to be handled privately....for example the fraud detection. If govt keeps control of that there is very little incentive to combat it. Edited October 28, 2021 by Highmark Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 28, 2021 Gold Member Share Posted October 28, 2021 5 minutes ago, JEFF said: Correct, It's astonishing how many people live streched to the max. Richest man I know looks like your average mechanic. Wears a mechanics uniform every day. He could buy half my town. the richest guy I know hangs out on a sled site talking about ass odor and shits in a chicken coop 😂 2 Quote Link to comment Share on other sites More sharing options...
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