Report: Level of poverty growing

[Oldandtired]

Hint....it will get you nowhere in life with that type of thinking. Look at your life right now....How is that line of thinking doing for ya?

My life is just fine, neocon. Thanks for asking. You know nothing about me. I DID INVEST IN MID-RISK STOCKS. I told you that already.

Seems you wanted to retire better than you lived while working....but you certainly could have arranged a solid comfortable retirment without mid-risk and high risk investing.

You are at fault for not taking it simple....but please...continue to blame those that you trusted to help make your money nake big money for you.

And where did I say I was trying to make big money? Man, the lack of reading comprehension skills is annoying.

If you were in mid risk investments, you were trying to make big money....so it is not that my reading comprehension skills suck...although I admit I wish I read more when I was younger......Instead, you seem to think making 8% (mid risk investments) is not big money. I see it as big money....a matter of opinion I guess.

No risk gives you 2-5%.....that is not trying to make big money...that is simply trying to make some money ON your money....sort of getting back the cost of money.

Seems you and I do not see investing equally. I see it as a gamble...and my expected return is zero to 5 %...anything more than that is winnings.

 

[Oldandtired]

Well, there's no other way in this god-forsaken corporatist economy to save enough to retire on if you work a regular middle class job... Unless you're born rich or win the lottery.

Ummm...wrong...

Everyone can live within their means and save money beyond 401Ks if they exert discipline and control their spending.

Cook at home...get books from the library...dry clothes on a line instead of the dryer so they last longer...Pay Into Savings Like It's A Bill...buy a good used car and keep it maintained...have staycations

Very early in my career, a wise person gave me the advice to not increase my life style everytime I received a raise or bonus. Even when I earned very little, I would still put something into savings. I did without things that like a new car and fancy vacations...and it was worth it. Money in the bank is more rewarding than excessive consumption.

I just dont get it.
Why do people think it is only fair that they can have their money make money for them...and unfair when it doesnt?

 

[Mr. Peepers]

Cook at home...get books from the library...dry clothes on a line instead of the dryer so they last longer...Pay Into Savings Like It's A Bill...buy a good used car and keep it maintained...have staycations

Do it already. Bring my lunch every day - eating in midtown Manhattan is expensive.Library, check (NY library rocks!), Do laundry in my building in Brooklyn...no lines to be had. I have 3 high yield saving accounts, 401K and an IRA. don't have a car - take the subway. I take one vacation every 2-3 years, otherwise, no vacations.

 

[Oldandtired]

You are a jealous asshole Peepers. I did not get hurt by the market downtuirn....but do not lecture you on investing is all you can say......

Whatever, not that I believe a thing you say. Most people have a 401K and most people are not market analysis geniuses, which is why they go to the seminars and talk to their account representative. I know enough about the market to put my money where it works best for me, based on the packages that they offer. The fact is the stupid traders caused this financial mess with their bundled securities that should have never existed in the first place, not me. Did you know the average 401K account lost more than a quarter of their money in 2008 alone?

Typical U.S. Worker Saw 401(k) Lose 24.3% in 2008 - BusinessWeek

BTW. I am an asshole? Really? I guess when you know you're wrong, you've got nothing left than to insult someone needlessly. Where did I say I was jealous of anyone? God, you guys have no comprehension skils whatsoever. Keep blaming the investors and defending the traders. The corporatist way.

It just hit me...

So you dont believe a thing I say?

Then why am I wasting my time with you. I thought both of us were learning from our debate...I guess I am wrong....Sometimes I misread people....got to work on that.

Or I could blame you....but I can not recall the last time I blamed someone for anything that happened to me.

Sorry Peepers...I guess we dont mix on this board....and by the way....I have no reason to doubt anything you have said...I trust people until they are proven to be dishomest......

Did I give you reason to see me as dishonest?

 

[Oldandtired]

Cook at home...get books from the library...dry clothes on a line instead of the dryer so they last longer...Pay Into Savings Like It's A Bill...buy a good used car and keep it maintained...have staycations

Do it already. Bring my lunch every day - eating in midtown Manhattan is expensive.Library, check (NY library rocks!), Do laundry in my building in Brooklyn...no lines to be had. I have 3 high yield saving accounts, 401K and an IRA. don't have a car - take the subway. I take one vacation every 2-3 years, otherwise, no vacations.

How long have you been working?
What is your annual income?

 

[Mr. Peepers]

I just dont get it.
Why do people think it is only fair that they can have their money make money for them...and unfair when it doesnt?

Because it wasn't normal market forces that made it go belly up, but Wall Street tomfoolery. There is a difference. And that they made so much money off these bundled mortgages while the regular investor got screwed. That's why.

 

[boedicca]

I just dont get it.
Why do people think it is only fair that they can have their money make money for them...and unfair when it doesnt?

Well, some people think other people should take care of them, even to the point of absolving them of the risks they have taken.

 

[Mr. Peepers]

How long have you been working?
What is your annual income?

Since I was 16 (I'm 35) and it's just under 50K

 

[Oldandtired]

I just dont get it.
Why do people think it is only fair that they can have their money make money for them...and unfair when it doesnt?

Because it wasn't normal market forces that made it go belly up, but Wall Street tomfoolery. There is a difference. And that they made so much money off these bundled mortgages while the regular investor got screwed. That's why.

you invested in MBS's?

And you say you only invest in low and mid risk investments?

Never in my life did I invest in MBS's....myu money is too important to my retirement.

But that is me.

 

[boedicca]

Cook at home...get books from the library...dry clothes on a line instead of the dryer so they last longer...Pay Into Savings Like It's A Bill...buy a good used car and keep it maintained...have staycations

Do it already. Bring my lunch every day - eating in midtown Manhattan is expensive.Library, check (NY library rocks!), Do laundry in my building in Brooklyn...no lines to be had. I have 3 high yield saving accounts, 401K and an IRA. don't have a car - take the subway. I take one vacation every 2-3 years, otherwise, no vacations.

Then it sounds like to me you are doing the right things. Ever wonder how much more you'd be able to save for your retirement if we had a less punitive tax system and real Limited Government?

 

[Oldandtired]

How long have you been working?
What is your annual income?

Since I was 16 (I'm 35) and it's just under 50K

I live in Nassau County.

But 50K living in Brooklyn...and spending as little as you say......seems you are a responsible person.....but you dropped the ball by getting involved in the market....
But that is my opinion.

 

[Mr Natural]

Cook at home...get books from the library...dry clothes on a line instead of the dryer so they last longer...Pay Into Savings Like It's A Bill...buy a good used car and keep it maintained...have staycations

Do it already. Bring my lunch every day - eating in midtown Manhattan is expensive.Library, check (NY library rocks!), Do laundry in my building in Brooklyn...no lines to be had. I have 3 high yield saving accounts, 401K and an IRA. don't have a car - take the subway. I take one vacation every 2-3 years, otherwise, no vacations.

Then it sounds like to me you are doing the right things. Ever wonder how much more you'd be able to save for your retirement if we had a less punitive tax system and real Limited Government?

IRA and 401K contibutions are both tax dedutible and grow tax free. Doesn't get much less punitive than that.

 

[Oldandtired]

How long have you been working?
What is your annual income?

Since I was 16 (I'm 35) and it's just under 50K

Did you go to college?
If not, why?

 

[Oldandtired]

Do it already. Bring my lunch every day - eating in midtown Manhattan is expensive.Library, check (NY library rocks!), Do laundry in my building in Brooklyn...no lines to be had. I have 3 high yield saving accounts, 401K and an IRA. don't have a car - take the subway. I take one vacation every 2-3 years, otherwise, no vacations.

Then it sounds like to me you are doing the right things. Ever wonder how much more you'd be able to save for your retirement if we had a less punitive tax system and real Limited Government?

IRA and 401K contibutions are both tax dedutible and grow tax free. Doesn't get much less punitive than that.

Tax deferred.....yes, a deduction for now...but tax deferred in the long run when the money becomes income post retirement.

 

[boedicca]

IRA and 401K contibutions are both tax dedutible and grow tax free. Doesn't get much less punitive than that.

There are limits to both.

He'd be better off with lower income and payroll taxes so he could save even more - just as we'd all be.

And we'll see how much value tax deferred accounts have if the Obama Administration seizes and replaces them with government annuities (with questionable indexing for inflation, no doubt).

 

[Mr Natural]

IRA and 401K contibutions are both tax dedutible and grow tax free. Doesn't get much less punitive than that.

There are limits to both.

He'd be better off with lower income and payroll taxes so he could save even more - just as we'd all be.

Yeah, that would be nice. But it's not going to happen in our lifetimes.

 

[boedicca]

It's so inspiring to see Fatalistic Giving Up.

 

[Mr Natural]

It's so inspiring to see Fatalistic Giving Up.

Fatalistic?

You calling me fatalistic?

What are you, one of those Hope and Change people?

 

[Oldandtired]

It's so inspiring to see Fatalistic Giving Up.

Fatalistic?

You calling me fatalistic?

What are you, one of those Hope and Change people?

lol

 

[boedicca]

Not in the way you most likely think.

I'm just not willing to cede our country to those who are intent ruining it.