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Posted: 3/25/2015 9:49:48 AM EDT
[#1]
Quote HistoryQuoted: People who wait to have kids "at the right time" will never have kids. Simple reality Quote HistoryQuoted: Quoted: Its still a choice. One that can have drastic impacts on a persons financial security. Double-so if its made when they are already treading water in their finances. People who wait to have kids "at the right time" will never have kids. Simple reality |
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Posted: 3/25/2015 9:51:01 AM EDT
[#2]
Quote HistoryQuoted:
Well if you put money in the bank then later need.....$5K for a used pick-up or car the banks are encouraged to call 911 on your ass. Here again we see the doctrine on unintended consequences kicking in. As with guns so it goes with money. The more the .gov tries to control it the less people have in the bank....either from a general shit economy or people no longer trusting their financial institutions. Personally I think people who have lots of money in the bank will come to regret it one day when our government kleptocracy goes full Cyprus on their ass. Unfortunately your post is full of rationalization. You're right about unintended consequences though, except for it being the result of lack of personal responsibility. |
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Posted: 3/25/2015 9:51:07 AM EDT
[#3]
in all seriousness, whats the point of saving money, when the system is set up for a crash? that money won't be worth the paper its printed on. Better to have ownership of your items and not be held liable to anyone, instead of having a bunch of worthless paper
and i have savings |
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Posted: 3/25/2015 9:54:57 AM EDT
[#4]
MOST of the sheeple in the US do not save. This place is a "buy now/pay later" posterchild. Sadly. The lessons of the Great Depression have NOT been learned by today's population. Funny thing is, those people who listen to Dave Ramsey could have saved all of their money and instead listened to the people who lived through that time (my grandparents, etc).
I am no posterchild when it comes to saving money, but my savings account will take me and my family farther than the average US household and their month to month needs. |
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Posted: 3/25/2015 9:56:27 AM EDT
[#5]
I suck at saving, which is why I contribute a shitload toward retirement.
Posted Via AR15.Com Mobile |
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Posted: 3/25/2015 9:58:22 AM EDT
[#6]
Quote HistoryQuoted:
10% savings rates are for pussies. Agree, i saved about $600 a month when my goal was buying a condo in the 70's. A year later and I got it. It set me up for making mortgage payments, just about that same amount. 25% |
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Posted: 3/25/2015 10:00:15 AM EDT
[#7]
Quote HistoryQuoted: This. My guess is that non-savers make up an even higher percentage. Quote HistoryQuoted: Quoted: I thought 40%+ of America didn't even make enough to have to pay taxes? So this isn't too surprising. Plus baby boomers are retiring - they should be net negative savers in retirement This. My guess is that non-savers make up an even higher percentage. Link |
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Posted: 3/25/2015 10:02:58 AM EDT
[#8]
Pay youself first! Save 5% off the top before you spend anything. If you cannot afford the 5% you have to cut something else out.
Do not touch your savings. Once you begin to earn more increase the percentage of savings. Everyone wants things right now. Slow down, save your money, and think before you make quick decisions to buy stuff that you can live without. 
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Posted: 3/25/2015 10:09:21 AM EDT
[#9]
Quote HistoryQuoted:
Many people I know are living paycheck to paycheck, the middle class is shrinking and I doubt the FSA are putting thier EBT money in savings! I bet 90% of those people you know have poor spending habits. There is always to save money. Yes I use to live paycheck to paycheck. I also didn't try to find a higher paying or second job (granted not having a working car didn't help this but I walked to and from my work) go out to eat a lot I smoked and I had a huge data plan phone. If I knew about couponing and how to do it then I probably alone would've saved $1-200 a month. if I switch from my data plan phone to a trac phone I probably would've saved half on my bill and of course would've saved if I didn't smoke. As I said before many people live way beyond their means. Everyone wants "it" now and doesn't want to save the few dollars from each paycheck to do so but rather max out their spending on their paycheck to do so. In addition how many people would rather have "fun" instead of paying their bills first. |
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Posted: 3/25/2015 10:21:04 AM EDT
[#10]
Quote HistoryQuoted:
Might impart an ounce of humility for some Arfcommers to read Nickle and Dimed by Barbara Ehrenreic. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
you'd be surprised that over half of america can not save money... it's not necessarily that they are CHOOSING not to. Bullshit. I have managed to save money regardless if I was making $5/hr or $50/hr. The trick is not to have a litter of kids, expensive vices, or generally bad spending habits. Sooner or later those kids will come along. If you want to be the unmarried hermit who lives like a miser sure you can die millions stashed away Those expenses you talk about are part of life for just about everyone. While there are people who blow their money needlessly, there's only so far you can slash and save, especially with kids. You need some anmbition and grit. There is some truth in the wage issue as Wal-mart raising their low wage to $9 recently proves. But saddling yourself with family and having low skills and dim prospects is a conscious choice, however you look at it. Your author had a Ph.D in cheimistry and chucked all that for investigative journalism and feminist causes. She was driven and successful |
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Posted: 3/25/2015 10:25:18 AM EDT
[#11]
With as much as everything cost any more, its not surprising. Couple that with 50% of the population living off the government and its a wonder we are still here.
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Posted: 3/25/2015 10:29:40 AM EDT
[#12]
Quote HistoryQuoted: As I said before many people live way beyond their means. Everyone wants "it" now and doesn't want to save the few dollars from each paycheck to do so but rather max out their spending on their paycheck to do so. In addition how many people would rather have "fun" instead of paying their bills first. This produces a home price/income ratio of 3.7, and car price/income ratio of 0.61. Using the same methodology, college tuition was a ratio (income to tuition) of 0.18 in 1950 to 0.79 in 2014. Lets also not forget that the "official" measure of inflation was changed (as I recall around 1980) so that the current methodology used today produces a much lower inflation rate than how it was calculated pre 1980. Simply put, less dollars are available for savings for those who don't have income that produces substantial discretionary income to start with. Data source |
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Posted: 3/25/2015 10:34:17 AM EDT
[#13]
Quote HistoryQuoted:
About half of America believes that buying merchandise at 50% off is "saving money."  Have you been talking to my wife? |
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Posted: 3/25/2015 10:34:19 AM EDT
[#14]
The message was sent long ago that you don't have to save money. You bear no responsibility for you or your family's well-being. The government will provide.
And the government will one way or another. |
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Posted: 3/25/2015 10:38:34 AM EDT
[#15]
Quote HistoryQuoted:
What's money good for? Worth less every day. sad but true. I put money into other things. I'm the reason we haven't went madmax, if I decided to do the "smart" thing and save for retirement it would be nationalized so fast Lenin would be doing barrel rolls |
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Posted: 3/25/2015 10:40:29 AM EDT
[#16]
Quote HistoryQuoted:
Would you rather have $100k in a savings account, or in a gun vault? Which is a smarter investment? Now dont be dumb, i am not saying to have no money at all for emergencies, but which is smarter investing? Lots of worthless guns. I'd rather be investing the money in that case |
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Posted: 3/25/2015 10:40:54 AM EDT
[#17]
Quote HistoryQuoted: You need some anmbition and grit. There is some truth in the wage issue as Wal-mart raising their low wage to $9 recently proves. But saddling yourself with family and having low skills and dim prospects is a conscious choice, however you look at it. Your author had a Ph.D in cheimistry and chucked all that for investigative journalism and feminist causes. She was driven and successful Quote HistoryQuoted: Quoted: Quoted: Quoted: Quoted: you'd be surprised that over half of america can not save money... it's not necessarily that they are CHOOSING not to. Bullshit. I have managed to save money regardless if I was making $5/hr or $50/hr. The trick is not to have a litter of kids, expensive vices, or generally bad spending habits. Sooner or later those kids will come along. If you want to be the unmarried hermit who lives like a miser sure you can die millions stashed away Those expenses you talk about are part of life for just about everyone. While there are people who blow their money needlessly, there's only so far you can slash and save, especially with kids. You need some anmbition and grit. There is some truth in the wage issue as Wal-mart raising their low wage to $9 recently proves. But saddling yourself with family and having low skills and dim prospects is a conscious choice, however you look at it. Your author had a Ph.D in cheimistry and chucked all that for investigative journalism and feminist causes. She was driven and successful |
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Posted: 3/25/2015 10:41:37 AM EDT
[#18]
I can barely make the bills now after cutting everything, including food. I work 6 days a week. How would you like me to save money?
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Posted: 3/25/2015 10:42:22 AM EDT
[#19]
Quote HistoryQuoted: There's a big element of this. 50% of the country is the bottom half of earners, folks. Not to mention, since 2008 the middle class beating has gotten worse. Jobs are paying less, hours are being reduced, but everything is costing more...fuck the fraudulent CPI. Food, energy, consumables, not getting any cheaper. Medical plans? Yeah.... I can't ridicule the people who just don't have it to save. They are the bulk of that figure, I'm sure. Quote HistoryQuoted: Quoted: You need to have money to save for this whole idea to work. There's a big element of this. 50% of the country is the bottom half of earners, folks. Not to mention, since 2008 the middle class beating has gotten worse. Jobs are paying less, hours are being reduced, but everything is costing more...fuck the fraudulent CPI. Food, energy, consumables, not getting any cheaper. Medical plans? Yeah.... I can't ridicule the people who just don't have it to save. They are the bulk of that figure, I'm sure. We're trying to reduce our costs by putting our house on the market, and looking to buy one less expensive. We had to make some choices and sending our kids to private school, letting them be active in sports, and having my wife stay home to raise them was more important to us than having a retirement slush fund. Not sure what we're going to do for retirement. Guess I'll just keep working. |
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Posted: 3/25/2015 10:55:49 AM EDT
[#20]
Sadly, this is becoming an issue not just for the working poor, but for people who should be able to save. There's a trend in the US for not only wanting "things", but wanting them right NOW.
I see it almost daily with a college friend of mine. He's graduating in a semester w/ a stem degree and a starting salary in the $75k. His fiancee is a nursing major looking to graduate in 2 semesters with $50k a year. All things considered that's a damn good start for a pair of 22 year olds. What's the first order of business for them? A 3,000 sqft McMansion and an F250 King Ranch superduper long bed super crew cab turbo diesel for $60k+. 
I advice was to move into a good apartment complex that catered to college students, finance a couple basic Ford Focuses, and save money by living like a college student. We live in a very cheap state. You can find 750sqft studios for $450 in an "ok" complex. Instead they think I'm the crazy person to suggest such an austere lifestyle. 
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Posted: 3/25/2015 11:01:37 AM EDT
[#21]
How does Dave Ramsey still have an audience?
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Posted: 3/25/2015 11:09:28 AM EDT
[#22]
Quote HistoryQuoted:
There's also my active duty E8 who makes $120k/yr (i think), whom I'm the supervisor making just a bit over half his pay. He complains he doesn't have money, has high credit card debt, no savings, and afraid he will be forced to retire with 20 AD years a couple years from now. What does he do to help the situation? He adopted an international child for $30,000 (at least) and moved into a bigger and more expensive house. How does an E8 make $120k a year? I just had lunch with a bunch of E9s and they all said they made about $70k a year with all sorts of extra pay. What's that guys MOS? |
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Posted: 3/25/2015 11:17:34 AM EDT
[#23]
My wife and I both make the same amount and we recently started living/saving for retirement 100% off of one income. Everything else goes towards paying off the mortgage in 3 years. We are spending way less monthly, while still saving the same for retirement, and the peace of mind is priceless.
The Dave Ramsey philosophy of paying off all your debt as soon as possible is what prompted our austerity measures and it was a wise choice for us. We'd never sleep at night if we didn't have a substantial savings. I'm baffled how people think that's a good idea if they're older than about 25-26. |
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Posted: 3/25/2015 11:21:45 AM EDT
[#24]
Quote HistoryQuoted:
I can barely make the bills now after cutting everything, including food. I work 6 days a week. How would you like me to save money? Well we see that you have at least $24 a year to waste. 
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Posted: 3/25/2015 11:24:22 AM EDT
[#25]
That chart is misleading. By using only the 40-50 percentile range, it makes it appear that the fluctuation is much greater than it actually is. Put that data on a graph with a 0-100 range and it will look much more constant over the last 30 years. So nothing has really changed.
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Posted: 3/25/2015 11:28:23 AM EDT
[#26]
Quote HistoryQuoted:
Some of you guys are really all about not enjoying your money at all while you're young enough to. There is a balance but damn. Meh, typical ARFcom one-upper behavior. "You only save 15% of your income? You're FSA! I save 87%!" |
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Posted: 3/25/2015 11:34:32 AM EDT
[#27]
Quote HistoryYou need some anmbition and grit. There is some truth in the wage issue as Wal-mart raising their low wage to $9 recently proves. But saddling yourself with family and having low skills and dim prospects is a conscious choice, however you look at it. Your author had a Ph.D in cheimistry and chucked all that for investigative journalism and feminist causes. She was driven and successfulquote]News flash - not everyone can be a hedge fund manager, surgeon, or successful business owner, regardless of their ambition or grit. The world needs ditch diggers, and that is all some people are cut out to be. The message of the book I referenced, which I'm guessing you haven't read, is that individuals who earn low wages simply have less discretionary income and are greatly impacted by unexpected (or expected, can be argued) expenses such as car trouble or healthcare emergencies (especially if they lack insurance). This subset of the population also tends to work in jobs that are less forgiving to the circumstances these unexpected life events create (i.e. took a few days off from work because your child was sick and your paycheck is now too little to cover your bills, or worse the boss fires you). The vast majority of people on this board have probably never experienced life as the working poor do every day, but have the attitude that they are only poor due to their own sloth and lack of ambition and still should be able to easily save up a rainy day fund if they weren't living beyond their means. Well said. |
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Posted: 3/25/2015 11:44:56 AM EDT
[#28]
Quote HistoryQuoted:
Sometimes I wonder if I am the idiot for saving money. I live well below my means, and it seems everyone I know has very little or no actual savings, but live in a nice home, and are bouncing off the walls at work with joy. They don't seem stressed at all. happy and broke today means sad and broke tomorrow. |
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Posted: 3/25/2015 11:46:38 AM EDT
[#29]
Does a TSP count? How about a Roth IRA ? other than that I like perty things that go boom.
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Posted: 3/25/2015 11:53:31 AM EDT
[#30]
Quote HistoryQuoted:
Lots of worthless guns. I'd rather be investing the money in that case Quote HistoryQuoted:
Quoted:
Would you rather have $100k in a savings account, or in a gun vault? Which is a smarter investment? Now dont be dumb, i am not saying to have no money at all for emergencies, but which is smarter investing? Lots of worthless guns. I'd rather be investing the money in that case I read it as 100k cash in a gun vault, not 100k of guns, but then read it again... 
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Posted: 3/25/2015 11:53:38 AM EDT
[#31]
Quote HistoryQuoted:
Does a TSP count? How about a Roth IRA ? other than that I like perty things that go boom. Yes, they count. |
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Posted: 3/25/2015 11:58:07 AM EDT
[#32]
This!
Quote HistoryQuoted:
You need to have money to save for this whole idea to work. |
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Posted: 3/25/2015 12:07:30 PM EDT
[#33]
Quote HistoryQuoted:
Meh, typical ARFcom one-upper behavior. "You only save 15% of your income? You're FSA! I save 87%!" Quote HistoryQuoted:
Quoted:
Some of you guys are really all about not enjoying your money at all while you're young enough to. There is a balance but damn. Meh, typical ARFcom one-upper behavior. "You only save 15% of your income? You're FSA! I save 87%!" I can see that. Look it's your money and do what you want with it but if you make an average income of say 50k and you pay rent/mortgage around $1,200-500 a month plus all your other expenses you are not going to have much left to save outside of your 401k contribution. Have enough cash to survive a few months but also spend some of it on stuff you enjoy. I |
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Posted: 3/25/2015 12:08:47 PM EDT
[#34]
Lot of people out there that can barely pay their monthly bills.
My shocked face. 
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Posted: 3/25/2015 12:10:37 PM EDT
[#35]
Quote HistoryQuoted:
Sometimes I wonder if I am the idiot for saving money. I live well below my means, and it seems everyone I know has very little or no actual savings, but live in a nice home, and are bouncing off the walls at work with joy. They don't seem stressed at all. No you are doing it right, let job loss or an emergency hit and you will see them loss it all. |
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Posted: 3/25/2015 12:18:43 PM EDT
[#36]
Quote HistoryQuoted:
I am absolutely convinced that at least half of the people who claim that they 'don't have anything to save' are full of shit and just crappy at managing their money. If you're a part timer making minimum wage...ok, you prolly don't have any $ (unless you live in mom/dad's basement)....but most people do. Look at it this way. EVERYONE on this list can afford to save more: 1. smokers / tobacco chewers 2. anyone eating at a restaurant 3. anyone drinking anything but water/milk/juice (I'm looking at you Starbucks / Crack Brothers drinkers!) 4. anyone on vacation 5. anyone buying clothes in for-profit stores 6. anyone with a cell phone 7. anyone with internet 8. anyone taking any kind of illegal/recreational drugs 9. anyone that buys food at work instead of brown bagging it 10. anyone at a concert / movie / play 11. anyone buying expensive garbage (chips, cookies, TV diners etc.) for food I could go on, but most get the point I'm sure. Think about how many 'financial losers' you know who do some/all of these things. They DO have money to save, they simply choose to piss it away instead. I don't feel sorry for them, not one bit. People are free to live how they choose...and it's no skin off my back...but don't tell me that there isn't anything to save while you drive your recent car to star bucks while talking on your GD iPhone. Bingo |
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Posted: 3/25/2015 12:28:54 PM EDT
[#37]
Quote HistoryQuoted:
Actually the value of the dollar has increased dramatically in the last 9 months. Meanwhile I live way below my means so I can save. I live on about 22% of my gross. Quote HistoryQuoted:
Quoted:
What's money good for? Worth less every day. Meanwhile I live way below my means so I can save. I live on about 22% of my gross. Good for you. Given the general wage depression, you're one of the lucky ones. If I tried that on my public sector wage, I'd have to move back in with my parents and eat for free. |
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Posted: 3/25/2015 12:38:21 PM EDT
[#38]
Quote HistoryQuoted: I am absolutely convinced that at least half of the people who claim that they 'don't have anything to save' are full of shit and just crappy at managing their money. If you're a part timer making minimum wage...ok, you prolly don't have any $ (unless you live in mom/dad's basement)....but most people do. Look at it this way. EVERYONE on this list can afford to save more: 1. smokers / tobacco chewers 2. anyone eating at a restaurant 3. anyone drinking anything but water/milk/juice (I'm looking at you Starbucks / Crack Brothers drinkers!) 4. anyone on vacation 5. anyone buying clothes in for-profit stores 6. anyone with a cell phone 7. anyone with internet 8. anyone taking any kind of illegal/recreational drugs 9. anyone that buys food at work instead of brown bagging it 10. anyone at a concert / movie / play 11. anyone buying expensive garbage (chips, cookies, TV diners etc.) for food I could go on, but most get the point I'm sure. Think about how many 'financial losers' you know who do some/all of these things. They DO have money to save, they simply choose to piss it away instead. I don't feel sorry for them, not one bit. People are free to live how they choose...and it's no skin off my back...but don't tell me that there isn't anything to save while you drive your recent car to star bucks while talking on your GD iPhone. |
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Posted: 3/25/2015 12:46:23 PM EDT
[#39]
The simple fact is that the 50+ percent that is not saving, will eventually want the government to come after any little bit the rest of us have tried to put away.
I have been max in on 401k for decades, knowing that SS was a joke. Given the current political climate, I doubt I will get to keep much of that either. . |
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Posted: 3/25/2015 12:48:33 PM EDT
[#40]
Quote HistoryQuoted:
Some of you guys are really all about not enjoying your money at all while you're young enough to. There is a balance but damn. I could certainly save more...but there are a LOT of things that really aren't even a quality of life issue. I mean, if you smoke/chew especially...those are things that actually make your life worse, yet they cost a shit ton of money. Same thing with eating hot pockets every day. It's both more expensive and worse for you. I like to do a few things, hanging out with my wife, shooting, and hiking. The former is free, the hiking has a bit of initial cost but not much because I use cheap gear, and then there is my lone expensive hobby, guns. Everyone has "their thing", the key is doing it in moderation and cutting expenses elsewhere. I mean, if you're spending $5 a day on coffee, don't complain about not being able to save. The majority of people just piss a ton of money away. It's not even on stuff that is really crucial for enjoying life, it's just being habitually wasteful. |
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Posted: 3/25/2015 12:48:46 PM EDT
[#41]
Quote HistoryQuoted:
Actually the value of the dollar has increased dramatically in the last 9 months. Meanwhile I live way below my means so I can save. I live on about 22% of my gross. Quote HistoryQuoted:
Quoted:
What's money good for? Worth less every day. Meanwhile I live way below my means so I can save. I live on about 22% of my gross. Ah, the life of living single. |
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Posted: 3/25/2015 12:56:52 PM EDT
[#42]
Quote HistoryQuoted:
Why should I? Dollar is dying. Dear Leader was pissed that Britain joined the AIIB and then like a whipped dog, he applied on behalf of the US. Dump that toxic sh*t before it's worthless.  Damn and I thought I was going to make it in before dr doom showed up.
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Posted: 3/25/2015 12:57:04 PM EDT
[#43]
Quote HistoryQuoted: Name of documentary? Quote HistoryQuoted: Quoted: I just watched a documentary where it was discussed that the communists will use the "weight of the poor" to overthrow a capitalist system. We also had a president who mentioned fundamentally trasnsforming America. These things are all cogs in their master plan for the introduction of a socialist republic. It's happening right before our eyes and most people don't even know it. Name of documentary? There's No Place Like Utopia by Joel Gilbert. It's long, a bit hokey at times, but the message is good. You'll see a lot of evidence in American society of what is really going on with the communist/progressive agenda and how much of their agenda they have sucessfully implemented. |
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Posted: 3/25/2015 1:01:11 PM EDT
[#44]
people don't save because they have impulse control issues and also they are irrational by nature. Also, we are hard wired to follow the herd. That is a trait that has not left humans yet. You couple all those into one nice package and it's easy to see why people don't save and don't invest well.
There is always the exception to the rule but this study backs my theory. |
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Posted: 3/25/2015 1:02:19 PM EDT
[#45]
Quote HistoryQuoted:While I don't disagree with your point (and it is very valid) the reality is America's economy would absolutely tank if the vast majority of non-savers ceased to partake in consuming the products/services in your list in lieu of building up their savings account.
I agree that our economy is addicted to that economic crack...but at some point down the road, the economy will suffer much worse as a result of this habit. Besides, it's not like everyone would just pick a specific day and stop spending. Even if we had a cultural epipheny, the spending effect would be gradual most likely. I save a lot. I always max out my 401(k) (the IRS $18k limit, not the match), and my contrib rate is over 30%. I fund a Roth IRA, and keep some PMs as well. People can save. I actually maxed out my 401k one year back when I was making something like $14/hour. I had a contrib rate of 40%-ish and volunteered for lots of OT. If you have the will, you can do all kinds of saving. As to the "inflation will just eat your lunch anyway!" crowd, it's a ridiculous arguement. I keep a small amount of $ in USD to pay bills, the rest is invested in things that aren't USD. If there is a big spike of inflation, the nominal price of those investments goes up along with everything else. I'm not discounting the idea that spikes in inflation can cause some problematic economic chaos...but there is risk with EVERY strategy. Investing in things, historically, has been the best way to outpace inflation. I don't think anyone in this thread is seriously advocating stuffing USD in a mattress or keeping it in a savings account at 0.25% interest. THAT would be 'bad saving'...but it's not how (the vast majority of) savers do it, so it's kind of a non-arguement. |
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Posted: 3/25/2015 1:04:19 PM EDT
[#46]
Quote HistoryQuoted:
in all seriousness, whats the point of saving money, when the system is set up for a crash? that money won't be worth the paper its printed on. Better to have ownership of your items and not be held liable to anyone, instead of having a bunch of worthless paper and i have savings Folks have been saying the system is going to crash as long as I have been alive. (45 years) |
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Posted: 3/25/2015 1:05:32 PM EDT
[#47]
Quote HistoryQuoted:
I agree that our economy is addicted to that economic crack...but at some point down the road, the economy will suffer much worse as a result of this habit. Besides, it's not like everyone would just pick a specific day and stop spending. Even if we had a cultural epipheny, the spending effect would be gradual most likely. I save a lot. I always max out my 401(k) (the IRS $18k limit, not the match), and my contrib rate is over 30%. I fund a Roth IRA, and keep some PMs as well. People can save. I actually maxed out my 401k one year back when I was making something like $14/hour. I had a contrib rate of 40%-ish and volunteered for lots of OT. If you have the will, you can do all kinds of saving. As to the "inflation will just eat your lunch anyway!" crowd, it's a ridiculous arguement. I keep a small amount of $ in USD to pay bills, the rest is invested in things that aren't USD. If there is a big spike of inflation, the nominal price of those investments goes up along with everything else. I'm not discounting the idea that spikes in inflation can cause some problematic economic chaos...but there is risk with EVERY strategy. Investing in things, historically, has been the best way to outpace inflation. I don't think anyone in this thread is seriously advocating stuffing USD in a mattress or keeping it in a savings account at 0.25% interest. THAT would be 'bad saving'...but it's not how (the vast majority of) savers do it, so it's kind of a non-arguement. Quote HistoryQuoted:
Quoted:While I don't disagree with your point (and it is very valid) the reality is America's economy would absolutely tank if the vast majority of non-savers ceased to partake in consuming the products/services in your list in lieu of building up their savings account.
I agree that our economy is addicted to that economic crack...but at some point down the road, the economy will suffer much worse as a result of this habit. Besides, it's not like everyone would just pick a specific day and stop spending. Even if we had a cultural epipheny, the spending effect would be gradual most likely. I save a lot. I always max out my 401(k) (the IRS $18k limit, not the match), and my contrib rate is over 30%. I fund a Roth IRA, and keep some PMs as well. People can save. I actually maxed out my 401k one year back when I was making something like $14/hour. I had a contrib rate of 40%-ish and volunteered for lots of OT. If you have the will, you can do all kinds of saving. As to the "inflation will just eat your lunch anyway!" crowd, it's a ridiculous arguement. I keep a small amount of $ in USD to pay bills, the rest is invested in things that aren't USD. If there is a big spike of inflation, the nominal price of those investments goes up along with everything else. I'm not discounting the idea that spikes in inflation can cause some problematic economic chaos...but there is risk with EVERY strategy. Investing in things, historically, has been the best way to outpace inflation. I don't think anyone in this thread is seriously advocating stuffing USD in a mattress or keeping it in a savings account at 0.25% interest. THAT would be 'bad saving'...but it's not how (the vast majority of) savers do it, so it's kind of a non-arguement. what do you mean? |
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Posted: 3/25/2015 1:06:27 PM EDT
[#48]
Quote HistoryQuoted:
Folks have been saying the system is going to crash as long as I have been alive. (45 years) Quote HistoryQuoted:
Quoted:
in all seriousness, whats the point of saving money, when the system is set up for a crash? that money won't be worth the paper its printed on. Better to have ownership of your items and not be held liable to anyone, instead of having a bunch of worthless paper and i have savings Folks have been saying the system is going to crash as long as I have been alive. (45 years) PM bugs wish for a crash every morning when they wake up. |
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Posted: 3/25/2015 1:06:33 PM EDT
[#49]
Explains why half of them want free shit..
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Posted: 3/25/2015 1:16:06 PM EDT
[#50]
Quote HistoryQuoted:
This. I am amazed the people I work with who complain about living paycheck to paycheck are the same ones who go out for lunch on a daily basis - typically to sit down restaurants where a tip is required - and make fun of me for sitting in the break room eating a homemade sandwich. I know that sounds simplistic but I think it highlights a fundamental difference in thinking. I would also hazard to say that those of us that grew up with Depression era parents had the value of savings drilled into us from an early age. Quote HistoryQuoted:
Quoted:
No surprise there. Too many people that live above their means and too many people who are genuinely struggling. This. I am amazed the people I work with who complain about living paycheck to paycheck are the same ones who go out for lunch on a daily basis - typically to sit down restaurants where a tip is required - and make fun of me for sitting in the break room eating a homemade sandwich. I know that sounds simplistic but I think it highlights a fundamental difference in thinking. I would also hazard to say that those of us that grew up with Depression era parents had the value of savings drilled into us from an early age. These people are so stupid they will probably never realize it. The will retire with nothing. The ones who seem to be intersted in changing I try to help out. I have gotten over a dozen people onto Dave Ramsey's total money makeover. Some people out there are really trying to change their lifestyles and spending habits. I actually purchased a 10 pack of the total money makeover and have handed them all out. |
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