Jump to content

Eye Opener


T2K

Recommended Posts

  • Moderators

Some of this is true and some exaggerated for dramatic news stories,  it's hard to get the truth these days. All you can do is read 10 news stories and try to guess where the truth lies. 

 

Drive past restaurants, shopping malls and see how many people are out spending money, and the cars driven. 20 years self-employed at something that is far from a necessity you find people have the money when they want something, and not from financing, it was rather surprising.

  • Like 1
Link to comment
Share on other sites

7 minutes ago, oldtimer said:

It's a recognized American financial fact that most live from check to check.  Most people have mortgages or rent, plus car payments, and carry balances on credit cards.  Half have no retirement savings.  

 

Much is the same for a lot of people that look like they have money.  You get a raise, new job, etc.   Here comes the bigger house, newer 4x4 truck, private school maybe for one or two, next thing you know you're back where you started, just strapped at a different level.   About the only thing that can save the day is a healthy term life policy.

Link to comment
Share on other sites

I've seen probably a half dozen middle aged people being interviewed here lately about their financial difficulties after missing a paycheck. I'd be embarrassed to admit that I was such a poor planner of my future. When I was a teen my Dad told me I could have anything I wanted. Just get a job and pay for it. After I figured out the way the system worked, I work-employer pays-I buy, I never looked back. I have never asked anyone for anything. Was I furloughed for months every year for the first 6 years of my last job? Yes, yes I was. We sucked it up and enjoyed the time off. I don't understand why people don't realize that stuffing big black plastic bags full of cash in the garage like Carl does is insurance for their future, just like buying insurance for your car or your home or your life. Like Emile says, stuffing a couple of dollars in a pickle jar every week adds up in no time. Maybe the shutdown will be a wake-up call for some people. I hate it for them though.

 

Keith

 

  • Like 1
Link to comment
Share on other sites

19 minutes ago, oldtimer said:

It's a recognized American financial fact that most live from check to check.  Most people have mortgages or rent, plus car payments, and carry balances on credit cards.  Half have no retirement savings.  

 

It's a fact that I am just now hearing about. It's something that is usually not openly discussed.

 

As far as retirement savings go, I'm sure you see the future gigantic cluster that is forming that will make this shutdown just a tiny blip on the screen of a miserable life. Maybe this period is somewhat prepping people for their depression era future. Few pensions (and many of those getting Mitted which the government will eventually bail on), a funding shortage for SS, Medicare funding issues, low pay with no retirement savings. The future is bleak for those that do not prepare themselves. That's the way I see it anyway.

 

Keith

 

  • Haha 1
Link to comment
Share on other sites

7 hours ago, JJkizak said:

You have to know how much money is coming in versus how much money is going out, plain and simple.

JJK

 

Our government is not a very good teacher of this theory.

 

Keith

 

  • Thanks 1
  • Haha 1
Link to comment
Share on other sites

15 hours ago, T2K said:

It's a fact that I am just now hearing about. It's something that is usually not openly discussed.

You are kidding right?  Other than the shit show that is going on in DC right now, I would say that the "retirement crisis" is one of the top  issues in the news/magazines/papers/blogs, etc, etc,  every single day.

Link to comment
Share on other sites

15 hours ago, dtel said:

I believe that, but why so many try to live above what they can afford, the stress of it must take away any enjoyment from the lifestyle they try to live ? 

 

I try to tell younger people (they never really seem to understand) that money can buy stress or buy security, it is their choice. 

 

We were at a one year old's birthday party recently.  The couple is young and not much money at all.  The wife insisted on the party because, you know, a one year old will remember this for the rest of her life, right?  They must have spent at least a few hundred dollars, maybe event $300 or more on the party ,(multiple cakes, food, decorations, etc.).  Depending on where you are in life this is either nothing or a significant amount.  This couple is struggling, single income and two kids.  A few hundred dollars should be a big deal.  The wife was all dressed up and showing off.  Glamor you know, gotta show off for the friends.

 

I saw the husband and asked how he was doing.  I really like this guy.  His answer, I am not making this up. 

 

     Me:  How are you doing? 

 

     Him:  Well, I have the cable bill paid and the power, the mortgage should be OK and I think that I can cover the rest this month so I guess pretty good. 

 

He was so consumed with the stress of his bills that he could only think of that. 

 

He said that if he could get more side work or make more money things would be OK.  I told him he was dead wrong.  I explained that he has a bucket with holes in it that are draining faster than he can fill it.  Even if he fills it faster the holes will just get bigger.  I said that it was up to him to figure out what the holes were and fix them.  I don't know if he understood. 

 

Most people do not make a real living wage anymore.  I remember being young and not making much and it was stressful.  But it is also a combination of low wages and either poor or no money management.   It is also really easy to blow everything when your attitude is that making it is someone else's problem. 

  • Like 2
Link to comment
Share on other sites

4 minutes ago, tigerwoodKhorns said:

He was so consumed with the stress of his bills that he could only think of that. 

That's terrible.   I have many friends my age that I am guessing are right in the same age range as your case in point.  I HATE to hear it, but it seems to be the reality everywhere I turn nowadays.   Of course I know several people doing very well for themselves at this age as well, but most are plus or minus your example 😔.  I feel I have been blessed and am smart with my money IMO, but I feel for those that are hurting, I can only imagine being in that scenario.... 

Link to comment
Share on other sites

I just though of another one.  We know another young couple that has no money and children.  They are broke.  They received a large cash settlement, I do not know the amount.  Since the day that they received it, we have been witnessing trips to Disney land where they are paying for friends to go with them, dinners at really expensive restaurants, more trips, eating crab at home, all for your viewing pleasure on Facebook. 

 

A fool and their money are soon parted. 

  • Haha 1
Link to comment
Share on other sites

4 minutes ago, tigerwoodKhorns said:

I just though of another one.  We know another young couple that has no money and children.  They are broke.  They received a large cash settlement, I do not know the amount.  Since the day that they received it, we have been witnessing trips to Disney land where they are paying for friends to go with them, dinners at really expensive restaurants, more trips, eating crab at home, all for your viewing pleasure on Facebook. 

 

A fool and their money are soon parted. 

I see similar all the time (settlement not needed).   Just don't lump all of us in the same category 😔.... 

Link to comment
Share on other sites

6 minutes ago, Westcoastdrums said:

That's terrible.   I have many friends my age that I am guessing are right in the same age range as your case in point.  I HATE to hear it, but it seems to be the reality everywhere I turn nowadays.   Of course I know several people doing very well for themselves at this age as well, but most are plus or minus your example 😔.  I feel I have been blessed and am smart with my money IMO, but I feel for those that are hurting, I can only imagine being in that scenario.... 

 

I do feel bad, but the problem is usually solvable.  I say "usually" because wages are low. 

 

My mother was so stressed out when she retired.  I made her a budget, including an amount that she could spend on whatever she wanted every month (she loves to shop).  She follows the budget and always says that she can't believe how easy it is now.  I tell her that she should have listened to me when I was 20 years old and trying to tell her the same thing. 

Link to comment
Share on other sites

18 minutes ago, jimjimbo said:

You are kidding right?  Other than the shit show that is going on in DC right now, I would say that the "retirement crisis" is one of the top  issues in the news/magazines/papers/blogs, etc, etc,  every single day.

 

Nope. Not kidding. I don't converse with many younger folks nowadays since I no longer work. Even when I did work guys don't usually talk about their finances. So to hear all the problems I mentioned earlier experienced by those out off work for just a few weeks was kind of shocking to me.

 

I don't read newspapers or magazines anymore and I pay little attention to newscasts. But its really easy to see the direction of this country for future retirees. These are the glory days compared to what's down the road. You, or at least I, would think that people would be more concerned about their future. But apparently many aren't.

 

Keith

 

Link to comment
Share on other sites

 

I'll tell you caused all of this. It's those damn Unions. They demanded high wages, good health care coverage and attractive retirement benefits. Yeah, that's who caused all this trouble. Those guys that organized and demanded a better future for themselves and their families.

 

Keith

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...