Posted on 04/08/2015 1:48:29 PM PDT by SeekAndFind
Graphs like this with no further explanation or analysis are just plain stupid.
My 93-year old mother is a zero-saver. Like many folks in retirement, she is depleting her savings. That’s what folks do in retirement. You build up a nest egg, then responsibly live off of it. What percentage of US households are in this category?
People live off of savings and accumulate debt all the time - people between jobs, people with health issues, those attending college and trade schools. This is not necessarily a bad thing and many times it’s just a temporary thing.
So basically this chart is fairly meaningless as a stand alone chart.
not only that, the gimmiedats
don’t even have to file paperwork. Everything is given to them.
“Give me the good old days when you got CDs that paid 8%!”
I remember the early ‘80s when savings rates were in the teens. Having a savings account back then paid like a part-time job.
Of course, I wasn’t trying to buy a house (and borrow money to do it).
I had a 13% mortgage back then.
Thankfully not for long.
Romney was right about that too?
Yes he was, but the majority don’t want to accept the truth.
If it takes all you make to just get by...
It’s that damned 47% again.
Saving raises your capital relative to just consuming. But, if you have a government guaranteed annuity, that is your capital... why lower your consumption to save what would only amount to a a fraction of your capitalized government benefits?
He needs a talk with Dad, but I'm sure you've already tried that.
Yep, he is 32 and as thick headed as he was at 17. Every year I try to advise him to put half of the money in a savings account as an emergency fund but he refuses.
Eh, what can you do—maybe he takes after an uncle on your wife’s side. Kids are often very different from the parents and from each other.
Don’t co-sign anything for him that you don’t want to end up paying for.
“The income tax is bad because it was conceived in class hatred, is an instrument of vengeance and plays right into the hands of the communists. It employs the vicious communist principle of taking from each according to his accumulation of the fruits of his labor and giving to others according to their needs, regardless of whether those needs are the result of indolence or lack of pride, self-respect, personal dignity or other attributes of men.” “The income tax is fulfilling the Marxist prophecy that the surest way to destroy a capitalist society is by steeply graduated taxes on income and heavy levies upon the estates of people when they die.” (see communist goals) “As matters now stand, if our children make the most of their capabilities and training, they will have to give most of it to the tax collector and so become slaves of the government. People cannot pull themselves up by the bootstraps anymore because the tax collector gets the boots and the straps as well.”
My wife’s friend has a family income of about $25,000 for a family of four. She doesn’t work, and the husband completed trade school, but won’t seek better employment. They get the usual dollop of government goodies each month and always complain about how tight money is.
I fumed a couple of years ago when she mentioned they purchased a $5,000 camera with their $12,000 tax refund due to education credits, etc. They were eating at our house and complaining, so I asked how they got so much when they didn’t pay any in. They ended up leaving pretty quickly and didn’t come over again, although my wife maintained the friendship.
Duh. He lives in his MIL’s house and stiffs her for the rent regularly.
Yep, we became slaves when the government decided that it had first dibs on our paycheck.
And if you start doing it while in your early 20s, it will make a HUGE difference at retirement time, compared to waiting until your 30s.
Basically everybody who works is contributing money into their Social Security Account. This is money that the government puts in a "lock-box" somewhere so that it is available when people retire.
Everything will be just fine.
Half the population are gimedats, half don’t save....strange coincidence. sarc/
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