Do very few have any savings?

[herofan]

Just for fun what do you think is a combined household income sufficient to raise two children and retire with adequate savings by age 70 in your area?

That's a good question. I'm sure it would depend on several things; however, my curiosity wasn't that deep into someone's financial situation. I'm not saying everyone should have $200,000 in the bank. I'm just stunned that a few weeks without a paycheck put a lot of people on the brink of starvation.

People have all kinds of ideas about money management. It was just never a foreign concept to me to have some cash on hand if possible, even if it's just collecting dust and mold until I need it. There are always times when I just need some money in hand to take care of something, and it's really handy when it's available.

 

[Till-Hill]

My savings walk around outside in pens and fields. Savings is not the issue for people, debt is. If all these government workers had $10k available in credit, they wouldn't be worrying about paying bills for the next couple of months. But they are likely so heavily leveraged that they don't have access to that extra credit.

Exactly

 

[Bestoutwest]

The crazy part is all this could of been prevented if people would just do the right thing. I built a new wall yesterday to keep my cows out of the garden. At one time those against the wall wanted a wall, and most are the same one's that want gun control, go figure?

You mean like make Mexico build it like he promised? Build it, don't build it, I don't care at this point. Just don't promise something and then renege on that promise.

IDK probably wrong but I equate nonessential workers with my having to pay nonessential taxes.

Prison workers are not receiving checks. I'd call them essential.....

One guy was saying he had a friend that committed suicide b/c he couldn't pay the bills. Then, he goes on to say that his kid is having a birthday and they can't do anything for him. "I know he won't remember b/c he's only two, but it's really hard on us." I don't get it. However, you want corruption in the prison system, more than there already is, create desperate guards who need cash.

 

[bball]

NPR was interviewing a NASA engineer who was working on the Mars mission thing. She said she was having to eat rice and beans because she didn't have any money on day 14 of the shutdown.

IDK probably wrong but I equate nonessential workers with my having to pay nonessential taxes.

Great point. I wonder how all this will impact tax season?

 

[M-5]

Pi$$ on them. Life ain't fair. Help wanted signs are everywhere so if they want money do what the others millions of us do. Get a real job.

 

[OleScout]

We on here are still living or think we are living in the old United States. We think we should all work hard, save and pay our way. We don't understand we don't have to do any of that. The Gov will take care of you.
My Dad's in his 80's, in a nursing home dying of cancer. His room cost him $250.00 a day as long as he has assets. Dad worked till he was 79 and has saved all his life. The guy in the room next door pays nothing, he has no savings or assets. Never wanted savings or assets. The state pays for his room (Medicaid). His and Dad's rooms and quality of care are the same. Once they deplete all Dad's assets his will be free too.
I've been on Dialysis for 10 years. I still work full time and have my cows. I had to take the Congress mandated for ESRD Medicare after 33 months on dialysis. I write a check to pay $134 month for Medicare. I still pay the Medicare tax out of my work check. My insurance at work has gone from $2000 annual out of pocket pre ObamaCare to $6500 annual out of pocket. So I'm paying the 20% not paid by Medicare up to the $6500 plus my insurance premium (which has quadrupled).
My friends at Dialysis, 90+% have no job, have no assets, pay nothing. They are also provided with free transportation to treatments and all Dr visits. Free meds. They all have Gov provided cell phones to call and raise he// with transportation when they aren't sitting out front waiting on them.

It's sad but the people left who think they should take care of themselves are in the minority. The check to check folks have the nice houses, nice cars & $50,000 trucks and took the vac we told our wife was just to extravagant (and besides who would check the cows).

 

[bball]

We on here are still living or think we are living in the old United States. We think we should all work hard, save and pay our way. We don't understand we don't have to do any of that. The Gov will take care of you.
My Dad's in his 80's, in a nursing home dying of cancer. His room cost him $250.00 a day as long as he has assets. Dad worked till he was 79 and has saved all his life. The guy in the room next door pays nothing, he has no savings or assets. Never wanted savings or assets. The state pays for his room (Medicaid). His and Dad's rooms and quality of care are the same. Once they deplete all Dad's assets his will be free too.
I've been on Dialysis for 10 years. I still work full time and have my cows. I had to take the Congress mandated for ESRD Medicare after 33 months on dialysis. I write a check to pay $134 month for Medicare. I still pay the Medicare tax out of my work check. My insurance at work has gone from $2000 annual out of pocket pre ObamaCare to $6500 annual out of pocket. So I'm paying the 20% not paid by Medicare up to the $6500 plus my insurance premium (which has quadrupled).
My friends at Dialysis, 90+% have no job, have no assets, pay nothing. They are also provided with free transportation to treatments and all Dr visits. Free meds. They all have Gov provided cell phones to call and raise he// with transportation when they aren't sitting out front waiting on them.

It's sad but the people left who think they should take care of themselves are in the minority. The check to check folks have the nice houses, nice cars & $50,000 trucks and took the vac we told our wife was just to extravagant (and besides who would check the cows).

Such an honest an accurate post! Clearly, you are a poor soul who lives in reality.

 

[herofan]

We on here are still living or think we are living in the old United States. We think we should all work hard, save and pay our way. We don't understand we don't have to do any of that. The Gov will take care of you.
My Dad's in his 80's, in a nursing home dying of cancer. His room cost him $250.00 a day as long as he has assets. Dad worked till he was 79 and has saved all his life. The guy in the room next door pays nothing, he has no savings or assets. Never wanted savings or assets. The state pays for his room (Medicaid). His and Dad's rooms and quality of care are the same. Once they deplete all Dad's assets his will be free too.
I've been on Dialysis for 10 years. I still work full time and have my cows. I had to take the Congress mandated for ESRD Medicare after 33 months on dialysis. I write a check to pay $134 month for Medicare. I still pay the Medicare tax out of my work check. My insurance at work has gone from $2000 annual out of pocket pre ObamaCare to $6500 annual out of pocket. So I'm paying the 20% not paid by Medicare up to the $6500 plus my insurance premium (which has quadrupled).
My friends at Dialysis, 90+% have no job, have no assets, pay nothing. They are also provided with free transportation to treatments and all Dr visits. Free meds. They all have Gov provided cell phones to call and raise he// with transportation when they aren't sitting out front waiting on them.

It's sad but the people left who think they should take care of themselves are in the minority. The check to check folks have the nice houses, nice cars & $50,000 trucks and took the vac we told our wife was just to extravagant (and besides who would check the cows).

I can't argue with anything you wrote. Whether we like it or not, that's an accurate account of how it is today; however, I'm not looking that deeply into it. I'm just looking at money for a cushion or a rainy day. Aren't there everyday things where the government don't intervene, or it would simply be less hastle to just be able to write a check and have it done?

For example, my parent's HVAC went out last winter and had to be replaced. I believe the total cost was at $6,000. They just wrote a check and it was done. What do people do in that situation who choose to live check to check? Within a years time, there is always a few hundred here and there, and sometimes a few thousand unexpected expenses. I like to just pay for it and be done.

When it comes to credit, I can't figure why it would have been better on my parents, for example, to have borrowed the $6,000 and made payments on it as opposed to just paying for it and forgetting about it? I don't understand how a financial philosophy of having $0 extra can be as comfortable as having a few extra bucks.

 

[jehosofat]

Most people today don't have sheit, the banks, mortgage companies, and credit card companies just rent it to them.

 

[Bestoutwest]

When it comes to credit, I can't figure why it would have been better on my parents, for example, to have borrowed the $6,000 and made payments on it as opposed to just paying for it and forgetting about it? I don't understand how a financial philosophy of having $0 extra can be as comfortable as having a few extra bucks.

We use credit to buy things, even in an emergency. We had our water heater go out. We did have the cash in the bank to pay for it right there, however, we had just had a big house project finished up the day before that drained us. So, we used a 0% credit card and paid it off before it started accruing interest. We do this all the time. Home Depot, Best Buy to buy a computer (which they gave us some deal for doing it, idiots). If they offer 0%, why not? It allows me to keep a bigger chunk in the bank for times when I actually need to pay it all at once.

 

[Bigfoot]

I have lost my life savings, and been plunged back in to debt twice in my life. One situation was completely out of my control, and the other was from being too trusting and helping a family member. Those two experiences combined, have changed my view on people's propensity to save. Seems our best intentions are sometimes are met with resistance.

 

[Jogeephus]

We on here are still living or think we are living in the old United States. We think we should all work hard, save and pay our way. We don't understand we don't have to do any of that. The Gov will take care of you.
My Dad's in his 80's, in a nursing home dying of cancer. His room cost him $250.00 a day as long as he has assets. Dad worked till he was 79 and has saved all his life. The guy in the room next door pays nothing, he has no savings or assets. Never wanted savings or assets. The state pays for his room (Medicaid). His and Dad's rooms and quality of care are the same. Once they deplete all Dad's assets his will be free too.
I've been on Dialysis for 10 years. I still work full time and have my cows. I had to take the Congress mandated for ESRD Medicare after 33 months on dialysis. I write a check to pay $134 month for Medicare. I still pay the Medicare tax out of my work check. My insurance at work has gone from $2000 annual out of pocket pre ObamaCare to $6500 annual out of pocket. So I'm paying the 20% not paid by Medicare up to the $6500 plus my insurance premium (which has quadrupled).
My friends at Dialysis, 90+% have no job, have no assets, pay nothing. They are also provided with free transportation to treatments and all Dr visits. Free meds. They all have Gov provided cell phones to call and raise he// with transportation when they aren't sitting out front waiting on them.

It's sad but the people left who think they should take care of themselves are in the minority. The check to check folks have the nice houses, nice cars & $50,000 trucks and took the vac we told our wife was just to extravagant (and besides who would check the cows).

I can't argue with anything you wrote. Whether we like it or not, that's an accurate account of how it is today; however, I'm not looking that deeply into it. I'm just looking at money for a cushion or a rainy day. Aren't there everyday things where the government don't intervene, or it would simply be less hastle to just be able to write a check and have it done?

For example, my parent's HVAC went out last winter and had to be replaced. I believe the total cost was at $6,000. They just wrote a check and it was done. What do people do in that situation who choose to live check to check? Within a years time, there is always a few hundred here and there, and sometimes a few thousand unexpected expenses. I like to just pay for it and be done.

When it comes to credit, I can't figure why it would have been better on my parents, for example, to have borrowed the $6,000 and made payments on it as opposed to just paying for it and forgetting about it? I don't understand how a financial philosophy of having $0 extra can be as comfortable as having a few extra bucks.

I'm with you on paying for it (or doing without) and being done but so many have the mentality that they have to have it NOW and don't mind financing it so long as their payments still allow them to buy their beer and lottery tickets and this mentality leads them to be a slave to interest rather than being its master. I think a good example of this can be seen in a dishwasher in a new home. A dishwasher isn't an essential item but everyone sticks one in their new home and finances it for 30 years so in the end the $300 dishwasher ends up costing them $2400.

One of the most valuable lessons anyone can learn is how to differentiate between their wants and their needs. If they can figure this out at an early age and learn how interest works then retirement will be pretty well taken care of.

 

[Bright Raven]

Shutdown is over. What did it accomplish?

They get paid for services not performed.

The cost is going to be huge. Government is a large part of GDP.

 

[True Grit Farms]

We on here are still living or think we are living in the old United States. We think we should all work hard, save and pay our way. We don't understand we don't have to do any of that. The Gov will take care of you.
My Dad's in his 80's, in a nursing home dying of cancer. His room cost him $250.00 a day as long as he has assets. Dad worked till he was 79 and has saved all his life. The guy in the room next door pays nothing, he has no savings or assets. Never wanted savings or assets. The state pays for his room (Medicaid). His and Dad's rooms and quality of care are the same. Once they deplete all Dad's assets his will be free too.
I've been on Dialysis for 10 years. I still work full time and have my cows. I had to take the Congress mandated for ESRD Medicare after 33 months on dialysis. I write a check to pay $134 month for Medicare. I still pay the Medicare tax out of my work check. My insurance at work has gone from $2000 annual out of pocket pre ObamaCare to $6500 annual out of pocket. So I'm paying the 20% not paid by Medicare up to the $6500 plus my insurance premium (which has quadrupled).
My friends at Dialysis, 90+% have no job, have no assets, pay nothing. They are also provided with free transportation to treatments and all Dr visits. Free meds. They all have Gov provided cell phones to call and raise he// with transportation when they aren't sitting out front waiting on them.

It's sad but the people left who think they should take care of themselves are in the minority. The check to check folks have the nice houses, nice cars & $50,000 trucks and took the vac we told our wife was just to extravagant (and besides who would check the cows).

I can't argue with anything you wrote. Whether we like it or not, that's an accurate account of how it is today; however, I'm not looking that deeply into it. I'm just looking at money for a cushion or a rainy day. Aren't there everyday things where the government don't intervene, or it would simply be less hastle to just be able to write a check and have it done?

For example, my parent's HVAC went out last winter and had to be replaced. I believe the total cost was at $6,000. They just wrote a check and it was done. What do people do in that situation who choose to live check to check? Within a years time, there is always a few hundred here and there, and sometimes a few thousand unexpected expenses. I like to just pay for it and be done.

When it comes to credit, I can't figure why it would have been better on my parents, for example, to have borrowed the $6,000 and made payments on it as opposed to just paying for it and forgetting about it? I don't understand how a financial philosophy of having $0 extra can be as comfortable as having a few extra bucks.

I'm with you on paying for it (or doing without) and being done but so many have the mentality that they have to have it NOW and don't mind financing it so long as their payments still allow them to buy their beer and lottery tickets and this mentality leads them to be a slave to interest rather than being its master. I think a good example of this can be seen in a dishwasher in a new home. A dishwasher isn't an essential item but everyone sticks one in their new home and finances it for 30 years so in the end the $300 dishwasher ends up costing them $2400.

One of the most valuable lessons anyone can learn is how to differentiate between their wants and their needs. If they can figure this out at an early age and learn how interest works then retirement will be pretty well taken care of.

This bears repeating.
We haven't had a mortgage payment for 20 years and don't plan on getting one anytime soon. As low as interest rates are now young folks should be able to have their house paid off in 15 years. You got to be nuts to work for the banks or car companies.

 

[jehosofat]

Shutdown is over. What did it accomplish?

They get paid for services not performed.

The cost is going to be huge. Government is a large part of GDP.

It's over for 3 weeks, then it'll be do it all over again.

 

[Bright Raven]

Shutdown is over. What did it accomplish?

They get paid for services not performed.

The cost is going to be huge. Government is a large part of GDP.

It's over for 3 weeks, then it'll be do it all over again.

I don't think either party wants that scenario to play out. Rand Paul - R Kentucky is introducing a bill to prevent any future shutdown and you don't get anymore Conservative than him.

Bill: Government Shutdown Prevention Act

 

[True Grit Farms]

Shutdown is over. What did it accomplish?

They get paid for services not performed.

The cost is going to be huge. Government is a large part of GDP.

It's over for 3 weeks, then it'll be do it all over again.

I don't think either party wants that scenario to play out. Rand Paul - R Kentucky is introducing a bill to prevent any future shutdown and you don't get anymore Conservative than him.

Bill: Government Shutdown Prevention Act

He's a wimp, let a liberal beat him up on his own property. If you can't take of yourself you dang sure can't take care of the country.

 

[Bright Raven]

It's over for 3 weeks, then it'll be do it all over again.

I don't think either party wants that scenario to play out. Rand Paul - R Kentucky is introducing a bill to prevent any future shutdown and you don't get anymore Conservative than him.

Bill: Government Shutdown Prevention Act

He's a wimp, let a liberal beat him up on his own property. If you can't take of yourself you dang sure can't take care of the country.

He had to go to Canada to get his hernia repaired resulting from that altercation. Doesn't even trust out medical institutions. He is a wimp. Lol

 

[bball]

Does anybody pay off credit cards every month anymore? I use mine for daily expenses and pay it off each month, and get cash back.

Yes sir. My FIL does this very practice. He loves his rewards!

 

[True Grit Farms]

I don't think either party wants that scenario to play out. Rand Paul - R Kentucky is introducing a bill to prevent any future shutdown and you don't get anymore Conservative than him.

Bill: Government Shutdown Prevention Act

He's a wimp, let a liberal beat him up on his own property. If you can't take of yourself you dang sure can't take care of the country.

He had to go to Canada to get his hernia repaired resulting from that altercation. Doesn't even trust out medical institutions. He is a wimp. Lol

I can see that, my first heart doctor was a terrorist looking fellow, I walked out and told him no thanks I'll take my chances. There's quite a few of those type of people working as doctors in the US of A. They can kill you practicing on you.