Bueller?...Bueller?....Good post, Ben Stein is a smart guy.
Or you can Win Ben Stein's Money!
My husband and I discussed this subject quite a lot since we started having children 6 years ago. What we have ultimately decided to do is save for retirement, rather than for college funds. Our boys will have to learn that good grades and hard work will take them where they want to go, not Mom and Dad's money. That being said, we will certainly pony up cash for trips home, and even transportation and living expenses (to an extent) especially while they live in the dorms. By the same token, we don't expect them to take care of us in our old age.
Call us harsh, but this is what we have decided to do. We can't get academic scholarships to fund our retirement, and by the time we retire, SS benefits will only be a fond memory.
and happy hanukkah
Medicare in New York is bankrupting cities in New York NOW, not in 10-20 years. The fact is, how many seniors have a pension and savings to afford paying a $1,000+ a month for housing (even if your home is paid off in 30 years your taxes will grow enough in 30 years to equal what your mortgage payment is now), $100-200 a month for medicine, 300-400 a month for healthcare supplements, not to forget food, gas etc.
The fact is, this country will soon be crippled financing seniors because seniors think someone else owes them.
Back at you, and yours. ;)
Of course one could save for retirement, like we did, and move to Citrus County, Florida where the best restaurant is The Outback Steak House, and eat at home mostly.
Seems there are no shortage of Applebee's and other assorted fast food junk palaces with kids that are determined to say ... "no problem" when you ask for something.
No problem? You work for $2 bucks per hour and tip, you bring me a glass of water and when I say thanks, you say "no problem"?
Poor little dears. I had no hint that it was a problem.
Perhaps like the old Soviet economy, where everybody had a ton of money in the bank, but nothing worth buying?
There would be nothing worth investing in either, because no one would spend their money, just "invest" it in now worthless entities.
Thank goodness for the folks out there who shop till they drop. They may be spending their retirement, but they make the world go round for everybody else.
Or, one could have had the foresight to have been born to a Presidential Cabinet member.
what happens when you do all the right things and STILL end up losing ?.....spouse worked for a company for almost 27 yrs, moving up slowly....but now has ZERO company pension let alone any medical benefits for retirement....due to bankruptcy.....he does now get a much smaller Pension Gurarentee check once a month, but I foot the bill for the medical for the family,,,,and I am paying about $650/month no kidding.....
saving for retirement is swell, but let's remember that we are supposed to enjoy your younger years when your kids are small.....what good does it do to have a ton of money when you are 75 if all the kids remember is you not spending an extra dime for family vacations, etc.....you know, the memory maker types of things...
we never had enough to put away for the kids for college....
first one borrowed some, but we supplemented that with about $500 a month ........it worked out okay...
our youngest could have gone right to 4yr college, but her grades weren't great so she is in her 2nd yr of community college....doing much better...she hasn't borrowed anything yet and we have been able to pay for that as we go....
I would like to go and do more traveling....I also would like to be able to help my grown children out too.....other than that, we don't need too much.....
Marlboro is my retirement plan!
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Very Good Article.
you should check this out
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