Biden's Economy Is Destroying Retirement Accounts in a Way Most People Are Overlooking

[White 6]

If your doing so much better you're getting help. Everything you need has gone up, Everything. So Everything you're buying is way more expensive. You got a 40% raise or you milking it out of the government? Has to be one of the two, and I'm being gracious with the 40%.

My costs simply have not gone up 40% relative to income, unless you count vacation condo rentals and lift tickets. And, our investment accounts did not lose as much as some did, they were conservative to begin with, and have exceeded expectations and making back more than any losses, easily, even with taking out a fairy large disbursement to pay for a roof construction project for the deck on the back of the house. Even that working to pay itself back, as if we had never taken that many thousands out. Plus, I had them take out tax money as if I was in the 20% bracket, so I got the first income tax return since the twins got out of college, nothing like the checks I used to pay in at tax time, mind you, but darned nice in my book and that national parkatecture pavilion, I sketched to show my contractor what I wanted turned out great, coming in on budget! Why would I feel it? 5 modest income streams, 3 with a fair COLA, no house note, no car note, just the tow of most of the time. We plan vacations 6 months out, both ski vacations and beach vacations and we shop, not just taking off on a lark. Nothing special about what I do, though I still take into account everything I learned in Managerial Finance, which was more about personal financial management than business managerial finance management.

 

[jknowgood]

My costs simply have not gone up 40% relative to income, unless you count vacation condo rentals and lift tickets. And, our investment accounts did not lose as much as some did, they were conservative to begin with, and have exceeded expectations and making back more than any losses, easily, even with taking out a fairy large disbursement to pay for a roof construction project for the deck on the back of the house. Even that working to pay itself back, as if we had never taken that many thousands out. Plus, I had them take out tax money as if I was in the 20% bracket, so I got the first income tax return since the twins got out of college, nothing like the checks I used to pay in at tax time, mind you, but darned nice in my book and that national parkatecture pavilion, I sketched to show my contractor what I wanted turned out great, coming in on budget! Why would I feel it? 5 modest income streams, 3 with a fair COLA, no house note, no car note, just the tow of most of the time. We plan vacations 6 months out, both ski vacations and beach vacations and we shop, not just taking off on a lark. Nothing special about what I do, though I still take into account everything I learned in Managerial Finance, which was more about personal financial management than business managerial finance management.

Lol, okay you're next as Americans have less disposable income.

 

[White 6]

Lol, okay you're next as Americans have less disposable income.

Probably not. I intentionally planned to be bomb proof after the bath I took in 2008-2009 the one and only time, I was ever financially damaged, though I lived and was raising a family from the late 70s to through 89 with 6.5 to 12.6 inflation, basically every year. I learned my lesson well.

 

[struth]

If your doing so much better you're getting help. Everything you need has gone up, Everything. So Everything you're buying is way more expensive. You got a 40% raise or you milking it out of the government? Has to be one of the two, and I'm being gracious with the 40%.

40 percent raise won’t make you better off in Joey Xiden’s american. Likely just make you break even

 

[jbrownson0831]

Ours have gotten better, with more money in retirement asset investments, than any time trump was in office, and I retired in the fall of 2016. If you are behind, you just pay no attention or are a lousy investor.

Oh spare us your "only guy in the whole US doing better" baloney.

 

[White 6]

Oh spare us your "only guy in the whole US doing better" baloney.

That is just it. I am not the only guy. Nobody, I repeat, nobody I know is suffering. 2008-2009 personnly lost my salaried position (unless willing to sell out, pack up and move to east coast) and knew 50 in the same situation, just from the one plant I worked for. But that wasn't all. There were plants around here shutting down left and right in this town, and the surrounding small towns. People were losing homes around here and across the country. This is nothing. Jobs are plentiful, money is coming into west Tennessee. New plants have opened and are still opening, and they are competing for employees. Wages are up and unemployment is low, and that is not just here, but across the country in many areas. If you are an investor and you haven't more than made back losses from the Covid years, you are a lousy investor. Housing is higher, but for a reason. They can get the higher prices, with $200, $300, $400,000 Dollar homes, not staying on the market long. For those of you not from West Tennessee, a $400,000 home in West Tennessee is probably worth 3 Times the price if in California or many other parts of the country with significant higher levels of cost of living. Of course, we don't have the taxes of those places, either. There are a lot of new cars on the roads. They cost a lot, but factory people and business people are buying them. I know a bunch of retired people. If they are my age, they generally are not suffering, and definitely not considering going back to work for other people.

So, you can peddle your fish somewhere else, as I have seen the Covid years, the Bush crash, the Carter/Reagan high inflation and job stagnation. This economy is not benefitting me as much as the Bill Clinton years, but it is definitely a good economy, and right now, the envy of the world in most places.

 

[HikerGuy83]

So, you can peddle your fish somewhere else, as I have seen the Covid years, the Bush crash, the Carter/Reagan high inflation and job stagnation. This economy is not benefitting me as much as the Bill Clinton years, but it is definitely a good economy, and right now, the envy of the world in most places.

Except more people are struggling to make ends meet. That isn't fish.

Less money is available to pull dow debt. That isn't fish.

And people are taking second jobs because they can't afford not to (per Forbes). That isn't fish.

I am happy West Tennessee is doing so well. I personally know people on my street who are losing jobs. One sold and moved to Cleveland because of a better job market.

Rents in the area are through the roof and people are struggling. Really struggling (food banks are running low....the usual story).

 

[White 6]

Except more people are struggling to make ends meet. That isn't fish.

Less money is available to pull dow debt. That isn't fish.

And people are taking second jobs because they can't afford not to (per Forbes). That isn't fish.

I am happy West Tennessee is doing so well. I personally know people on my street who are losing jobs. One sold and moved to Cleveland because of a better job market.

Rents in the area are through the roof and people are struggling. Really struggling (food banks are running low....the usual story).

You don't get it. Do you. If have inflation, that is a problem (mind you limited inflation is a good thing) it is because their is too much money out there in the systemy still chasing limited good, and a wages and employment increase, business knows it is a good time to raise price, to recoup back to 5 year plans projection curves from when business was shitty.



For about two years people could skate rent, and owners were hurt, to the benefit of renters. The owners bills went right on. Does it surprise you some people that skated, (even ones that skated though not losing employment) forced to leave, and owners raise rental rates, to make up for their losses, again inflation? So, who takes the hit? Owners and business manager that control resources in demand as wages and employment rise, or the consumer wanting those resourses as markets determine what the traffic will bear?

If moving to Cleveland, from west TN, you had better have something lined up.

Ohio also taxes your income, vs Tenness does not. Also figure Cleveland,Cuyahoga County, OH has the highest property taxes in the state.

 

[HikerGuy83]

You don't get it. Do you. If have inflation, that is a problem (mind you limited inflation is a good thing) it is because their is too much money out there in the systemy still chasing limited good, and a wages and employment increase, business knows it is a good time to raise price, to recoup back to 5 year plans projection curves from when business was shitty.



For about two years people could skate rent, and owners were hurt, to the benefit of renters. The owners bills went right on. Does it surprise you some people that skated, (even ones that skated though not losing employment) forced to leave, and owners raise rental rates, to make up for their losses, again inflation? So, who takes the hit? Owners and business manager that control resources in demand as wages and employment rise, or the consumer wanting those resourses as markets determine what the traffic will bear?

If moving to Cleveland, from west TN, you had better have something lined up.
View attachment 960617
Ohio also taxes your income, vs Tenness does not. Also figure Cleveland,Cuyahoga County, OH has the highest property taxes in the state.

I seriously do not understand how that has anything to do with my post.

 

[HikerGuy83]

You don't get it. Do you. If have inflation, that is a problem (mind you limited inflation is a good thing) it is because their is too much money out there in the systemy still chasing limited good, and a wages and employment increase, business knows it is a good time to raise price, to recoup back to 5 year plans projection curves from when business was shitty.

You raise prices as the market allows. That's all. You don't do it just to recoup. Some places can't (not the demand) and they go under. So I am not sure what your case is.

What I know is that I read about people who are struggling in many ways. I know people are doing the same.

And yet the economy is great.

Doesn't add up.

If the economy is some beast that rolls over the poor and struggling, then I guess it is doing fantastic.

 

[White 6]

You raise prices as the market allows. That's all. You don't do it just to recoup. Some places can't (not the demand) and they go under. So I am not sure what your case is.

What I know is that I read about people who are struggling in many ways. I know people are doing the same.

And yet the economy is great.

Doesn't add up.

If the economy is some beast that rolls over the poor and struggling, then I guess it is doing fantastic.

If you can get away with it and retain customers, you do. You never asked for a raise? You never worked toward a plan? Sometimes, you cannot simply buy cheaper components to sell at same price to maintain gross profit margin and ROI, though that gets tried also. Presently most companies did decide to raise prices. Inflation being "The general rise in prices". Not a government thing, but a business thing.

 

[HikerGuy83]

Presently most companies did decide to raise prices.

They raise prices to clear the market. Meaning they look for that price that sells everything they can make without leaving anyone wanting (i.e. artificially low gas prices and gas lines).

That point has to meet a point on the demand curve.

If there isn't that much demand, either you make less (and hurt yourself in several ways) or you lower price.

 

[Jarlaxle]

I seriously do not understand how that has anything to do with my post.

It doesn't, he is deflecting.