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Posted: 3/25/2015 12:15:06 AM EDT
[#1]
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Posted: 3/25/2015 12:15:29 AM EDT
[#2]
What's money good for? Worth less every day.
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Posted: 3/25/2015 12:16:02 AM EDT
[#3]
Quote HistoryChortle No shit!!! I wonder if the FSA was included in the calculations? |
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Posted: 3/25/2015 12:16:57 AM EDT
[#4]
Surprised it's that much.
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Posted: 3/25/2015 12:17:36 AM EDT
[#5]
Pffft, That's what social security is fo
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Posted: 3/25/2015 12:18:58 AM EDT
[#6]
Quote HistoryQuoted: 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. |
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Posted: 3/25/2015 12:19:13 AM EDT
[#7]
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money.
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Posted: 3/25/2015 12:19:16 AM EDT
[#8]
I didn't read the article but I used to work with a guy who made between 100 and 150k each year for three years. Before he got laid off he made the comment on how he was sitting pretty good with his savings. He told me he had 7k in the bank.
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Posted: 3/25/2015 12:19:33 AM EDT
[#9]
but have you seen the new Williams-Sonoma catalog? My kitchen is so outdated!!!
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Posted: 3/25/2015 12:20:05 AM EDT
[#10]
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. |
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Posted: 3/25/2015 12:21:09 AM EDT
[#11]
Quote HistoryQuoted:
I didn't read the article but I used to work with a guy who made between 100 and 150k each year for three years. Before he got laid off he made the comment on how he was sitting pretty good with his savings. He told me he had 7k in the bank. Even if he was shoving the max into his IRA, 401K and 429s, he was still spending WAY too much!!! |
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Posted: 3/25/2015 12:22:38 AM EDT
[#12]
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
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Posted: 3/25/2015 12:23:43 AM EDT
[#13]
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. |
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Posted: 3/25/2015 12:23:59 AM EDT
[#14]
Quote HistoryQuoted: While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? |
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Posted: 3/25/2015 12:26:46 AM EDT
[#15]
Quote HistoryQuoted:
... absurd. What do you plan on live on once too old to work? Quote HistoryQuoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? I think he meant shoving it into a mattress... |
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Posted: 3/25/2015 12:28:11 AM EDT
[#16]
Quote HistoryQuoted: ... absurd. What do you plan on live on once too old to work? Quote HistoryQuoted: Quoted: While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Investments. |
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Posted: 3/25/2015 12:28:29 AM EDT
[#17]
Quote HistoryQuoted:
I think he meant shoving it into a mattress... Quote HistoryQuoted:
Quoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? I think he meant shoving it into a mattress... "Don't trust the banks, never have" |
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Posted: 3/25/2015 12:29:36 AM EDT
[#18]
You need to have money to save for this whole idea to work.
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Posted: 3/25/2015 12:29:42 AM EDT
[#19]
Quote HistoryQuoted:
Even if he was shoving the max into his IRA, 401K and 429s, he was still spending WAY too much!!! Quote HistoryQuoted:
Quoted:
I didn't read the article but I used to work with a guy who made between 100 and 150k each year for three years. Before he got laid off he made the comment on how he was sitting pretty good with his savings. He told me he had 7k in the bank. Even if he was shoving the max into his IRA, 401K and 429s, he was still spending WAY too much!!! Our company matched 50% up to 8%, so you'd get a 4% match. Pretty simple right? He canceled his 401 early on because the company only matched 4% of 8%. 100% true story. He had some nice vehicles/clothes/phones/tv's etc Though. |
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Posted: 3/25/2015 12:31:31 AM EDT
[#20]
Quote HistoryQuoted: I think he meant shoving it into a mattress... Quote HistoryQuoted: Quoted: Quoted: While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? I think he meant shoving it into a mattress... |
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Posted: 3/25/2015 12:34:48 AM EDT
[#21]
Quote HistoryQuoted: 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. |
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Posted: 3/25/2015 12:36:58 AM EDT
[#22]
Lots of people live pay check to pay check and even though they can pay for what they want and not go broke they are way outliving their means.
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Posted: 3/25/2015 12:37:16 AM EDT
[#23]
Quote HistoryQuoted:
Investments. Quote HistoryQuoted:
Quoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Investments. There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. |
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Posted: 3/25/2015 12:37:30 AM EDT
[#24]
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.
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Posted: 3/25/2015 12:39:27 AM EDT
[#25]
None of them will be in this thread.
Otherwise, that's not the least bit surprising. I would expect that the majority of the other 50% are a few paychecks from losing it all, maybe 6 months. |
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Posted: 3/25/2015 12:39:54 AM EDT
[#26]
Quote HistoryQuoted: There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. Quote HistoryQuoted: Quoted: Quoted: Quoted: While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Investments. There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. Q: What are the differences between saving and investing? A: Your "savings" are usually put into the safest places or products that allow you access to your money at any time. Examples include savings accounts, checking accounts, and certificates of deposit. At some banks and savings and loan associations your deposits may be insured by the Federal Deposit Insurance Corporation (FDIC). But there's a tradeoff for the security and ready availability of these savings methods: your money is paid a low wage as it works for you. When you "invest," you have a greater chance of losing your money than when you "save." Unlike FDIC-insured deposits, the money you invest in securities, mutual funds, and other similar investments is not federally insured. You could lose your "principal," which is the amount you've invested. That’s true even if you purchase your investments through a bank. But when you invest, you also have the opportunity to earn more money than when you save. There is a tradeoff between the higher risk of investing and the potential for greater rewards. https://www.wellsfargo.com/financial-education/investing/difference-between-saving-and-investing/ Saving and investing are not the same thing — though people sometimes use those words interchangeably. Over half of Arfcom doesn't know basic personal finance. |
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Posted: 3/25/2015 12:40:45 AM EDT
[#27]
Quote HistoryQuoted:
I think he meant shoving it into a mattress... Quote HistoryQuoted:
Quoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? I think he meant shoving it into a mattress... I think "what are we going to do when we're too old to work" is the least of our problems when you're talking about that kind of time frame. |
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Posted: 3/25/2015 12:41:36 AM EDT
[#28]
Quote HistoryQuoted:
... absurd. What do you plan on live on once too old to work? Quote HistoryQuoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Purchase property, purchase mineral rights, buy rental property, invest in local businesses that are known to survive bad economies, and proven corps. If you got cash get safe that you tell no one about and only keep enough in the bank checking account or savings to cover a few months or so worth of bills. I had an Great Uncle who was one of the OG partners in a local banks. He was loath to keep lots of cash in a bank... "Never seen a run on a bank have you boy? Know what a bank holiday is?" Invest it in something was his big piece of advice. Buy a cemetary (yes he actually advised several relatives this) "the only business where you can buy property by the acre and sell it by the foot and not go to jail", buy heavy equipment stocks, utilities, he was one of the few people old people I know that admitted to owning Honda and Toyota stocks. |
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Posted: 3/25/2015 12:43:21 AM EDT
[#29]
Quote HistoryQuoted:
There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Investments. There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. Not the same thing. A bank savings account is where you money goes to grow old and lonely, investing is where you money goes to breed and multiply. |
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Posted: 3/25/2015 12:43:34 AM EDT
[#30]
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. |
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Posted: 3/25/2015 12:47:15 AM EDT
[#31]
didn't read the article
but I bet a lot has to deal with many to most people living beyond their means. Just look at many of the people under 30 wanting to buy the new upgrade for their phone when ever possible or people changing their car every other year. |
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Posted: 3/25/2015 12:48:56 AM EDT
[#32]
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 12:49:15 AM EDT
[#33]
Who here has enough money(be it in the bank or other wise) To pay the bills for a year or more?
Many folks are not very well off or prepared! living within your means can bide you some time. I have enough cash to pay my rent and food for a year if myself and the wife are unemployed for a year. As of right now there is no reason for us to be unemployed for that long. |
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Posted: 3/25/2015 12:49:19 AM EDT
[#34]
I've been saving, or more like hoarding, for the last couple if years. When the market shows signs of correcting, I'm prepared to become an investor. Wish I was in this position in 08/09. I knew there was a killing to be made, I just didn't have shit at the time to throw in
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Posted: 3/25/2015 12:55:59 AM EDT
[#35]
Quote HistoryQuoted:
... absurd. What do you plan on live on once too old to work? Quote HistoryQuoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Go to a nice socialist European country that has incredible prisons with personal trainers, cable tv, chefs, and internet, and rob a bank. |
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Posted: 3/25/2015 12:56:34 AM EDT
[#36]
No surprise there. Too many people that live above their means and too many people who are genuinely struggling.
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Posted: 3/25/2015 12:59:19 AM EDT
[#37]
Quote HistoryQuoted:
Not the same thing. A bank savings account is where you money goes to grow old and lonely, investing is where you money goes to breed and multiply. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
Quoted:
While having an emergency reserve is a must...saving money is idiotic with such low interest rates and highish inflation. You are LOSING money. ... absurd. What do you plan on live on once too old to work? Investments. There seems to be a problem with semantics here. Saving money and investing is the same thing. You are just converting fiat currency into stocks, real estate and rental property. Of course you do need Plan B for when the whole house of cards collapses. That is where your investments into brass, copper and lead come into play. Not the same thing. A bank savings account is where you money goes to grow old and lonely, investing is where you money goes to breed and multiply. The problem is, now, though your money may "grow" it doesn't "grow" faster than inflation. You are losing in the long run. .25 interest vs. 2.0 inflation. If it is actually that low? You are only negative 1.75  Why save? Buy bullets, they will increase in value more than your savings account. Right now the "savers" are being slowly robbed by the FED. Get the interest rates back up to 8 or 9% so I can make enough to keep up on inflation(3 to 4% at least) and I might be more inclined to save again.
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Posted: 3/25/2015 1:04:30 AM EDT
[#38]
I'm able to save because I'm willing to work a job that most can't and get paid really well for it. With that being said with all the taxes, fees, etc these days it's very very difficult for many to save anything that won't be burned up the first time life deals you a monthly shit sandwich. It's always something. I feel sorry for the guys that go to work everyday, save money, don't have a cellphone, don't go anywhere or do anything, don't have hobbies. Based on their definition anything beyond the essentials of food water and air is splurging waste.
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Posted: 3/25/2015 1:10:27 AM EDT
[#39]
I wouldn't be able to sleep at night if I didn't have 12 months worth of living expenses saved.
That said, there was a time when I thought that saving money was impossible. Literally impossible. |
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Posted: 3/25/2015 1:12:28 AM EDT
[#40]
i wouldn't call it "waste" necessarily....but it is a conscious decision to spend and NOT save by any measure. You know what they say, the best things in life are free. Go on a hike. Have sex. Find something that is looow cost. Doesn't necessarily have to be zero cost. The fact of the matter is, 99% of the country is probably MUCH closer to wasting-money-hand-over-fist than they are so-frugal-they-do-nothing. I once worked with a guy who had a great job, making well over $50k/year...and this was back in the 1990s. He didn't have two pennies to rub together. He literally spent ALL his money on cigarettes and beer (at a bar). He had a $500 car, with fraying tires on it, and he knew the town tow truck guy by first name basis because he ran his POS car off the road so often. 20 hour a week guy making minimum wage isn't the 'problem' here...it's the people who make some money but are absolutely horrible at managing it.
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Posted: 3/25/2015 1:14:16 AM EDT
[#41]
This shouldn't surprise anyone.
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Posted: 3/25/2015 1:20:34 AM EDT
[#42]
Quote HistoryQuoted:
This shouldn't surprise anyone. It does not surprise me! So many folks cant see beyond their nose! They can't look to what the near future holds, let a lone preparing beyond that! |
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Posted: 3/25/2015 1:25:13 AM EDT
[#43]
Over half of america doesn't save any money 
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Posted: 3/25/2015 1:29:08 AM EDT
[#44]
Why should they, the government should redistribut some of the rich people's money to them.
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Posted: 3/25/2015 1:31:38 AM EDT
[#45]
Quote HistoryQuoted:
Why should they, the government should redistribut some of the rich people's money to them. Aint that no shit. |
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Posted: 3/25/2015 1:36:45 AM EDT
[#46]
Quote HistoryQuote HistoryQuoted:
Over half of america doesn't save any money http://www.atsushistory.osteachers.com/assignments/99-washington/student-work/2a/team22A/WTrip_team22A/Capitol%202.jpg Brilliant! And news flash, you don't have as much saved as you think you do: each citizen's share of the national debt is $56,690.45. http://www.brillig.com/debt_clock/ |
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Posted: 3/25/2015 1:38:47 AM EDT
[#47]
Im trying to save money but Salad Days yo!
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Posted: 3/25/2015 1:39:56 AM EDT
[#48]
About half of America believes that buying merchandise at 50% off is "saving money."
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Posted: 3/25/2015 1:40:08 AM EDT
[#49]
Over half of America is living off of the government. Why would they bother saving anything? |
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Posted: 3/25/2015 1:42:45 AM EDT
[#50]
Which is why Social Security will never go away. If it stopped the government would just have to support people out of a different pocket. |
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