This Is What Life Without Retirement Savings Looks Like

[shade]

Why do some of you feel the need to give to people who didnt save enough. That's part of the reason social security is such a disaster.
So many of the left states that just hand out money look at their quality of life and homelessness....
The whole left coast. Handing out money doesnt work.

 

[Mr Brown]

I don’t think they are unnecessary! I just think they should be left to the states to decide like the constitution says.

The idea of states rights makes me nervous. It didn't work out for all Americans last time it was tried.

 

[Mr Brown]

Why do some of you feel the need to give to people who didnt save enough. That's part of the reason social security is such a disaster.
So many of the left states that just hand out money look at their quality of life and homelessness....
The whole left coast. Handing out money doesnt work.

Not everyone has the means to save, nor were they taught that saving is a good idea.
That being said, I think that having people work for their benefits should be required.

 

[mabupa]

I'd be up for that. I wish the govt would let me not pay for SS and allow me to take and into my 401k. My company can still pay their half of that tax into SS.

Itd be nice for force people to save but really it's more about education and learning about opportunity cost.

18-25 all should be trying to max a health savings account every year when they are healthy and not using the doctor. Sure you have a high deductible but if you aren't going it doesnt matter. Then a few years later when life happens you can have a little nest egg and not need to take on credit card debt. I realize that wont work for everyone since some people by 18 already have health issues. But anytime I look at my open enrollment option the high deductible is cheaper until I'm about 2k away from my max out of pocket. Then the low deductible plan starts to edge it out. That's over 30k in medical bills before that happens.

Looks like we share the same approach. I do high deductible and what I save goes to an HSA that gets a bonus added at the beginning of every year by my employer. I went aggressive on my mortgage term And shooting to be mortgage free at 40, so that I can then get more aggressive saving for retirement. I’ve made some stupid decisions in my life and could be in a better position now, but can’t change that and need to just stay focus and pray for good health and stable job and I’ll be more than happy to put in the work, after all, I busted my behind in a 3rd world country for pennies, so I’m glad to bust my behind here and get rewarded. I’m being raped with taxes being single with no kids, but still better here in the great USA.

 

[busabobh]

Most of you have not yet retired. The reality of what can happen has not hit you. I started planning as soon as I had any extra money. I have a pension two different retirement accounts and savings plus wife has 401 and both have SS. We thought we had the world by the ass. 2008 hit pension stop giving credits , accounts went down ,2010 job in construction gone. Took pay cuts to try to get work(not a good idea). Had to take early retirement to keep from going broke, which cost you on SS. Went back to work as soon as there was some, and worked till I was 70. I’m one of the lucky ones , I paid everything off and am comfortable but not the retirement my wife and I planed and worked for. Now I’ve had this wreck and don’t know where we will end up. So don’t feel to smug and snug till you get there.

 

[mabupa]

Most of you have not yet retired. The reality of what can happen has not hit you. I started planning as soon as I had any extra money. I have a pension two different retirement accounts and savings plus wife has 401 and both have SS. We thought we had the world by the ass. 2008 hit pension stop giving credits , accounts went down ,2010 job in construction gone. Took pay cuts to try to get work(not a good idea). Had to take early retirement to keep from going broke, which cost you on SS. Went back to work as soon as there was some, and worked till I was 70. I’m one of the lucky ones , I paid everything off and am comfortable but not the retirement my wife and I planed and worked for. Now I’ve had this wreck and don’t know where we will end up. So don’t feel to smug and snug till you get there.

That’s what I worry about. I have 32 years to go, before I hit 65. A lot of crap could mess things up in all that time!

 

[busabobh]

The economy runs in cycles, it is best to get out on a high if you can . I did all I could do or think of and it turned out ok , just not as good as we planed. I wish younger people luck as the changes come, might look into a financial planer, and be careful of them too.

 

[08BusaKY]

I worked fulltime 46 years without gaps and did ok on SS at 62. I also saved in a 401k. I now pay over 430 a month for health insurance. I paid off my house over a long time. That was a priority.

It cost US citizens more to live as it is but now they want to give free college and health care to people that come hear illegally. Plus look at how much we give to other countries.

 

[Mr Brown]

I worked fulltime 46 years without gaps and did ok on SS at 62. I also saved in a 401k. I now pay over 430 a month for health insurance. I paid off my house over a long time. That was a priority.

It cost US citizens more to live as it is but now they want to give free college and health care to people that come hear illegally. Plus look at how much we give to other countries.

You realize that less than 1% of the federal budget is spent on foreign aid right? Free college and health care to illegal immigrants is another popular talking point for the right, but it is nothing more than distraction. Just like the claims about violent crime. I'll say it again, the problem isn't lack of funding, it's allocation. We spend more of our budget on defense than the next 20+ countries combined, and most of them are allies ffs. It's insane that the government pours money into programs which amount to nothing more than corporate welfare, while simultaneously claiming that individual social programs are draining funds. The sad part is that people buy into it under the guise of patriotism.

 

[justintime2]

Government spending is out of control, in the end it won’t matter if you saved and others didn’t, we’ll all be in the same boat and it will have sunk.

Republicans and democrats have both done this to us, whats really going to sting however is we’ve actually done this to ourselves. But if you believe more entitlement spending or rewarding poor behavior with the fruits of another mans labor is the answer, you’re as much the problem as those who didn’t or wouldn’t save for their own future.

“...our calamity is heightened by reflecting that we furnish the means by which we suffer...”

 

[justintime2]

Mr Brown,
Ironically a retirement project could be made of countering your misguided musings but just as you’d like more of my money I shall not give you more of my time...

 

[busabobh]

Government spending is out of control, in the end it won’t matter if you saved and others didn’t, we’ll all be in the same boat and it will have sunk.

Republicans and democrats have both done this to us, whats really going to sting however is we’ve actually done this to ourselves. But if you believe more entitlement spending or rewarding poor behavior with the fruits of another mans labor is the answer, you’re as much the problem as those who didn’t or wouldn’t save for their own future.

“...our calamity is heightened by reflecting that we furnish the means by which we suffer...”

I agree with you to a point, but just what do we do with these people? Kill them, throw them in a camp, on the streets they become beggars, thieves, drug dealers, murderers. I know we already have this but think of it times 100. What is your solution?

 

[08BusaKY]

You realize that less than 1% of the federal budget is spent on foreign aid right? Free college and health care to illegal immigrants is another popular talking point for the right, but it is nothing more than distraction. Just like the claims about violent crime. I'll say it again, the problem isn't lack of funding, it's allocation. We spend more of our budget on defense than the next 20+ countries combined, and most of them are allies ffs. It's insane that the government pours money into programs which amount to nothing more than corporate welfare, while simultaneously claiming that individual social programs are draining funds. The sad part is that people buy into it under the guise of patriotism.

I totally disagree. We spend a fortune on illegals. Schooling, prisons, healthcare, welfare, housing, food stamps, police and ICE response. There is also the crime, lowering of wages for US citizens, overcrowding of schools, jails and prisons and much more costing taxpayers a fortune!

Not only that but my company lost a lot of US IT workers when their jobs were outsourced to India.

The DEMs want open borders which will degrade life, lower wages even more for US citizens. Look at all the big cities DEMS run with crap in the streets, needles, disease and crime. The left is where all the BS is. Along with the green new deal and open boarders to create a back door to socialize the US.

 

[08BusaKY]

Mr Brown,
Ironically a retirement project could be made of countering your misguided musings but just as you’d like more of my money I shall not give you more of my time...

I too will not devote anymore of my time to this thread I voiced my thoughts...

 

[Jbaby1969]

You realize that less than 1% of the federal budget is spent on foreign aid right? Free college and health care to illegal immigrants is another popular talking point for the right, but it is nothing more than distraction. Just like the claims about violent crime. I'll say it again, the problem isn't lack of funding, it's allocation. We spend more of our budget on defense than the next 20+ countries combined, and most of them are allies ffs. It's insane that the government pours money into programs which amount to nothing more than corporate welfare, while simultaneously claiming that individual social programs are draining funds. The sad part is that people buy into it under the guise of patriotism.

We’ve had conversations here like this before and I’ll say it again, I respect your opinion. I do agree with what you say about it being a distraction from the real problems here. To me it doesn’t matter if the government bankrupts us with war or with handouts. The end result is the same. In a perfect world we could do all these things. Unfortunately it’s not and we can’t. I would recommend one thing though. If you’re a reader, grab a copy of The Creature From Jekyll Island by G. Edward Griffin or if you have 3 hours to spare, get on YouTube and watch the documentary The Money Masters. Either one will change your outlook on how our country operates and what their main objective is.

 

[Mr Brown]

Mr Brown,
Ironically a retirement project could be made of countering your misguided musings but just as you’d like more of my money I shall not give you more of my time...

That's funny, and I mean that sincerely.
Your ideas represent a specific world view, doubtless formed by whatever experience and education you have. What suggestions do you have to solve the problems you point out? Wistfully contemplating the advantages of times gone by does nothing to help, like it or not, the world is not the place it was when this country was conceived.

 

[Mr Brown]

I'll say this and quit:
To all my brethren on both sides of the issue, pointing the finger at the 'other side' is part of the highly successful divide and conquer strategy which has been employed by those who have power for millennia. The problem isn't the people, it's the leadership.

 

[TallTom]

You realize that less than 1% of the federal budget is spent on foreign aid right? Free college and health care to illegal immigrants is another popular talking point for the right, but it is nothing more than distraction. Just like the claims about violent crime. I'll say it again, the problem isn't lack of funding, it's allocation. We spend more of our budget on defense than the next 20+ countries combined, and most of them are allies ffs. It's insane that the government pours money into programs which amount to nothing more than corporate welfare, while simultaneously claiming that individual social programs are draining funds. The sad part is that people buy into it under the guise of patriotism.

Mr Brown. I wish to concur on some of this. I worked for a Defense Contractor for a few years. I said the same thing. It's like welfare for the middle class. Don't get me wrong there are some fantastic people that are employed by these Cos. However they aren't the majority. The idea is if it takes 2 people to do a job, but we can convince the govt it takes 8, then we contract for 8. So those 6 are usually losers that just get carried along. We also had to hire a quota of certain groups of people. Man what a mess that is if they are useless and employed. They just get relegated to a paycheck in a corner to keep the quota met.

Then peace broke out around the late 90s. Suddenly all these employees were let go. And it was a major contributor to the Ca economy collapsing. All those middle class welfare jobs, fed a lot of others professions. And they all dried up.

To the rest we may not agree, or we may partially agree, but I have watched what has happened as we took money out of the military and used it elsewhere. Perhaps you have watched the rise of China? And the reconstitution of the Soviet Union?

For me its a simple formula. We are spending more than we are making as a country. And just like a family in debt with bills to pay, we begin to cut back. Then we decide we don't need cable. Don't need Starbucks, don't need a motorcycle. We have to figure out how to survive on less.

We need to bring jobs back to the country. Top to bottom jobs. Tax paying workers. Tax paying corporations. Tax paying politicians.

 

[Mr Brown]

Mr Brown. I wish to concur on some of this. I worked for a Defense Contractor for a few years. I said the same thing. It's like welfare for the middle class. Don't get me wrong there are some fantastic people that are employed by these Cos. However they aren't the majority. The idea is if it takes 2 people to do a job, but we can convince the govt it takes 8, then we contract for 8. So those 6 are usually losers that just get carried along. We also had to hire a quota of certain groups of people. Man what a mess that is if they are useless and employed. They just get relegated to a paycheck in a corner to keep the quota met.

Then peace broke out around the late 90s. Suddenly all these employees were let go. And it was a major contributor to the Ca economy collapsing. All those middle class welfare jobs, fed a lot of others professions. And they all dried up.

To the rest we may not agree, or we may partially agree, but I have watched what has happened as we took money out of the military and used it elsewhere. Perhaps you have watched the rise of China? And the reconstitution of the Soviet Union?

For me its a simple formula. We are spending more than we are making as a country. And just like a family in debt with bills to pay, we begin to cut back. Then we decide we don't need cable. Don't need Starbucks, don't need a motorcycle. We have to figure out how to survive on less.

We need to bring jobs back to the country. Top to bottom jobs. Tax paying workers. Tax paying corporations. Tax paying politicians.

I agree with much of this Tall Tom, our main disagreement here is in how much funding is necessary for an effective military, and wether or not the rise of China and Russia is directly related to military spending. China and Russia are not afraid of the US not because of any reduction in military capability, they know full well that all out war will result in mutually assured destruction. Conflicts will be through proxies, such as we see in the middle East for example. I think the US could spend less, on the right systems and technology and save money. Spending more than it makes is indeed a foolish way for government to operate, cutting a bloated military budget is an obvious start.
With regard to bringing back good jobs to the US, I think that is an impossibility. It would require a fundamental shift in understanding, because capitalism as a system has become inextricably intertwined with American identity. In order to pay people more that make things, either prices will have to rise or margins will have to decrease. Both of these things are antithetical to most Americans view of what being an American means. The pursuit of profit above everything else is what drove the jobs overseas to begin with, access to cheap things has kept them there.
Least, that's how I see it....

 

[fallenarch]

I get tired of this subject because people don't realize the facts and they argue it based on the propaganda they are victims of.

We already pay for healthcare for everyone in this country, legal or otherwise. Hospitals are prevented by law from turning away patients - they serve anyone who shows up at their door. We develop[ meds, give them to companies and then the charge us more than Canadians for the meds we created? We pay insurance companies a fortune when the government administers healthcare for a fraction of that cost. So the fact is, Medicare for all will get people into a cheaper cost model as opposed to running to the emergency room for a cold. It would stop letting insurance companies loot us and take the profit motive out of administering healthcare. And finally limit the profits on medicines to 10%. These are all totally rational moves that would stabilize the system almost immediately. How stupid is it to keep parroting "I don't want no socialize medicine" while year after year threaten to destabilize the mortgage industry and the economy in general?

Mexicans are not pouring into this country. Illegal immigration is going down as a trend, not up. Further, all facts show we need immigrant labor and they are a net asset to the US economy. That's why businesses continue to depend on them. The people at the border are refuges. They are running killer gangs in their native lands. Gangs who are flourishing because of the US pulling back cash and military support to small overwhelmed governments who sell out their country to save their lives and the lives of their families. BTW, these people are coming to existing ports of entry, not sneaking across the line so a fence is not a solution (sorry, fact).

What is taking your jobs are machines. It's going to get worse, much worse. Those sci-fi movies are not fiction, they are documentaries of a robot industry that is waiting for the political environment that allows them to replace you. Soon computers will take over white collar jobs and your company is foaming at the mouth to cut large numbers of very expensive staff in favor of machines. The truth is in less than 20 years, there will be little need for human labor. These are huge redefining changes few are prepared for or even have a clue of what to do about them.

Yes rich pay a lot in income taxes but that's a small part of the story. First, filthy people don't pay income taxes. The take $1 salaries and make their income from capital gains. That's why capital gains are only taxed at 15%. The rich spend about 1% of their income on living expenses, we spend 70%+ So average people spend nearly all of their money drive the economy. So we are putting the money into the hands of the rich and in return we are on your own to retire and for healthcare.

So if you are angry about welfare, minorities, women, or immigrants you've been punked. The rich are stealing your future and like a magician getting you go for their misdirection while they do it.