The Working Poor (Living On The Edge Parts I And II)

Long Beach Press Telegram ^ | 11/12/13/2006 | Greg Mellen

[ExSES]

Just out of curiousity, can you point me to which 10 year period between 1900 and 2000 that was characterized by full employment, affordable housing and no working poor?

The poor ye will have with thee always........

[visualops]

As Smith steps out of his apartment to have a smoke in the early morning

If you are that broke, you shouldn't be smoking. My husband and I both quit because of the expense. If you aren't willing to do the most obvious things to cut expenses, you won't change your situation.

[Born Conservative]

It is people like Serey Hong, a single dad and survivor of the Cambodian genocide, who sleeps on a fold-out cot in his living room and worries about his son, who struggles to maintain good grades while majoring in biochemistry at Cal State Long Beach and working part-time.

For some strange reason, I had this fleeting thought that MAYBE Mr. Hong is better off now, than when he was in Cambodia. But that's jut me....

[PeteB570]

Barf.

We live in a "Depressed Wage" area and my high school kid got a part time job in a burger joint that pays $6.00 and hour. At 40 hours a week, she can work as much as she wants and her grades allow, it would be $11,520 a year.

People are paid what they are worth (unless government steps in and makes the owner pay more).

[gr8eman]

He is better off now that the Dims are in charge...but he needs more help so the compassionate people in DC have to raise taxes. Look for stories like this to be a precursor to everything the dems want to do. I expect sob stories about Iraq veterans and intel hacks coming out about no WMD leading up to impeachment proceedings. They just can't help themselves.

[dakine]

Sure glad I won life's lottery....

[goldstategop]

The public is in favor of a higher minimum wage. People feel its better than welfare. And its human nature to want to be paid more for your hard work.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[Nathan Zachary]

Another part of the equation is the "working poor" do not have to remain "the working poor", they just don't know how to invest. No matter how "poor" one is, investing money and getting it to work for you is possible.

Even those who make a decent wage don't know how to invest. Investment and money management should be taught in schools from grade one up, but for some reason it isn't.

There is no reason why people need to be perpetualy poor in this country. Unfortunately too many think that $20 is too small an amont to start investing into somewthing with.

[MrBambaLaMamba]

Poverty is a crime.

[goldstategop]

Invest where? Most people put their money in the bank but its not enough to live on. If people knew decent investments, they could get a variety of income checks, not just a paycheck.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[dakine]

"We're all literally one step away from financial ruin."

Nope...

[Nathan Zachary]

And if your kid took half that and stuck it into some good investments, bank stocks etc. She could be laughing at the world in ten years time or less, before she even finishes collage, and moves out of yopur house , where everthing is free. But I bet every cent will be spent on what ever her heart desires, like most kids do (and you'll STILL have to buy her a car) :o)

[LibLieSlayer]

In kalifornia, driving a Honda and not a Lexus will get you on some poverty lists!

LLS

[Nathan Zachary]

What do you mean, invest where? Buy stocks! Investment certificates, There are all sorts of things you can buy. You don't have to buy huge amounts of everything, just the min. Eventually they add up, and you re-invest dividends, bond maturities, etc. They add up faster than you think!

The problem is getting people started. They just don't see how a lousy $20-$30 a month can amount to anything significant.

[goldstategop]

When I'm in the top 3%, I plan to set up an investment portfolio. And I'm leaving Long Beach for a less costly place to live.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." -Manuel II Paleologus

[IDontLikeToPayTaxes]

I know there will be plenty of people here at FR that have the solution to some poor schmuck working 2 jobs just to make ends meet: just start a million dollar business !

Anyway, this article does have a lot of sob stories, but it's true. Just take a look at the job ads in the Sunday paper. Where I'm from, a typical help wanted ad looks like this: Mandatory 4 year college degree and 2 years experience in the field. Starting pay: $28,000.

I think that kind of thing is why people don't think the economy is all that swell. Sure, taxes are low and the stock market is high, HOWEVER comma, nobody is making anything!

There are plenty of reasons for this, but that's not the important part. The important part is that the vast majority of the work force make really crappy pay.

[Nathan Zachary]

You don't have any investments now? It can be as simple as walking into a bank and opening a simple registared retirement savings account account. Pay yourself say $50 a month into it. At the end of the year, you'll have $600 saved, and $600 that you can reduce your taxable income by. That's a simple start.

Likewize find out what the bank sells it's shares for and the Min you need to buy. Save the money and buy them. Then enjoy the dividend they send. Buy more as the money adds up.
simple.

You'll be waiting forever to get in the top 3%. You get there by investing the money you earn and paying yourself first, not by waiting for a lotto or some dream job.

[IDontLikeToPayTaxes]

The public is in favor of a higher minimum wage. People feel its better than welfare. And its human nature to want to be paid more for your hard work.

Ya know, I hate to admit it, but I'm starting to think that the minimum wage should be increased. I think it would give upward pressure to all wages.

I'm sure that there will be the crowd that says "increasing the minimum wage will cost businesses jobs!" Hey guess what, businesses have been bleeding jobs for years. Here is an example:

My brother has been working in the accounting department in a company for 10 years. He's now in charge of it, he's the Controller. When he started there 10 years ago, the accounting staff was 8 full-time employees. Now the entire accounting department is him and a clerk.

That's what the experts call "Productivity", which I hear is one of the driving forces behind the "excellent" economy.

[BullDog108]

We're all literally one step away from financial ruin.

Huh? Speak for yourself. That is an incredibly stupid claim.

[Nathan Zachary]

""We're all literally one step away from financial ruin."
Nope...

I agree. There is no reason for anyone to be. It's because of poor money management, having no investments for the future, no planning, and spending everything one has while the spending is good that people find themselves in that predicament. People spend more than they make because they want everything NOW. They don't save, or leave anything TO save. Yet they easily spend $50 a month on lotto tickets, rather than start a simple savings plan which they could compound into a couple hundred grand in 10 years with little effort.