Why you should save

[Crowbob]

Originally Posted by tabs

You are absolutely right. You will... HAVE been seeing a slow but steady deterioration in your civil circumstances... more consternation and craziness in society.

We live in interesting times, and I watch it with a bag of popcorn enjoying the circus go by.

Me too, tabs.

I worry.

[onewhippedpuppy]

Originally Posted by vash

i'll let you guess:
"he's like that dude watching an orgy, trying to stick his dick somewhere, anywhere."

hahah..

i'm saving for the future hoping for the best. when i hit 50, i started that catch up amount. i'm maxed. my paycheck is embarrasing. crazy how money is so easy to spend, so hard to make and save. i wish i started earlier.

So you're saying he's banging the sloppy seconds fat chick?

[tabs]

Originally Posted by Crowbob

Good for you!

Now these next ten years, because you're all set, should take up increasing devotion to making your life and the lives of those whom you love BETTER.

Retirement, done right, is the time to reap what you have so diligently sown. There really is no greater payback, of course, than investing in yourself.

This is delusional as you do not live in a vacuum. This is Ostrich like complacency. The rest of the world effects you, and what you do.

We live in an unusual time that comes around once every 1000 years or so... it is fraught with an instability in the very foundation of the civilization itself.

I do not see how the debt issue can be resolved without massive blow back. Neither does anybody else for that matter and that is why the can keeps on being kicked down the road. Maybe MAGIC, or a Miracle will save the situation is the rational.

Paul Ryan gave it his all....the best he could do is a tax reform bill (govt Stimulus to business in the form of less taxes) that creates a bigger at least short term deficit. It is ALL based upon a hope that it stimulates an anemic economy. What it ignores is the dynamic that there is no longer a broad based MC participation in continuing to spend conspicuously. A broad based American MC NO LONGER EXISTS...

The kids realize this at least subconsciously and that is why there are so many Snowflakes and kids dropping out.

[Crowbob]

Plz see post #40, tabs.

It's like a shortcut across the infield to catch up.

[tabs]

Originally Posted by Crowbob

Me too, tabs.

I worry.

I do what I can by carrying the cross of preaching the gospel. My allegiance is not to a man, party nor faction but the truth of the matter.

[Crowbob]

Originally Posted by tabs

I do what I can by carrying the cross of preaching the gospel. My allegiance is not to a man, party nor faction but the truth of the matter.

My respect, sir.

[pwd72s]

Originally Posted by tabs

You are absolutely right. You will... HAVE been seeing a slow but steady deterioration in your civil circumstances... more consternation and craziness in society.

We live in interesting times, and I watch it with a bag of popcorn enjoying the circus go by.

No doubt on the deterioration. Portland has become a sewer, same as San Fran and Seattle, only smaller. Yet the so called leadership of what was once a nice small city seems to be in "remain calm, all is well." mode.

[SeanPizzle]

$1m just won't cut it anymore. This only will give you $40k per year. Even with a paid off house, $80k a year is really the minimum I see needed to live a comfortable, yet not extravagant, life. $2.5 to $3M is really a target for us

[tabs]

Originally Posted by SeanPizzle

$1m just won't cut it anymore. This only will give you $40k per year. Even with a paid off house, $80k a year is really the minimum I see needed to live a comfortable, yet not extravagant, life. $2.5 to $3M is really a target for us

How bout having no money coming in. How bout being wiped clean. Think it can't happen? You should have listened or talked to the people who lived through the depression or maybe Weimar Germany. Life can fundlementally change virtually on a dime. It has happened before it can happen again. The risk of it happening is high and is increasing by the year.

I listened to my parents about and lived with the scars that they bore from the Depression. The naive complacency on this Board and in America is astounding. You have all forgotten what is like to be hungry and to be with no hope nor means to change those circumstances. It was that fear that caused them to be prudent and save. You might say that is the reason I preach the gospel.


The fiscal and monetary system you all believe in and think is the rock of Gibraltar is in fact quick sand that is sucking you down. That is the message and continuing huge deficits is the proof. It is called the reality of it.

[ckelly78z]

Originally Posted by SeanPizzle

$1m just won't cut it anymore. This only will give you $40k per year. Even with a paid off house, $80k a year is really the minimum I see needed to live a comfortable, yet not extravagant, life. $2.5 to $3M is really a target for us

This may be true for California, but in Ohio, the cost of living, and taxes are MUCH lower. Living on a paid off farm allows me a big garden, chickens, and a sense of well being amounst the tornado of B.S that surrounds me. We don't incur many of the "needed" expenses that so many others would never think about living without, and are happy being realtive home bodies. We do travel, but not extravegantly, we wear box store clothes, and drive used cars, don't need those cigs, drugs, morning starbux, or daily energy drinks, eat well, but not 5 star, and don't go to clubs.

Should it ever happen that SHTF, we won't be out there searching/scrounging/dying like most most of those in urban areas.

[mreid]

I saved a million confederate dollars! Got them through an inheritance. My great grandfather kept 10,000 $100 bills in his mattress. Thought I was rich, didn’t need to save anything else.



Then I found out they were worthless. Well, a collector told me he could probably get me 25 cents on the dollar selling them one at a time. Given they are uncertified, we’d be lucky to sell them all in the next ten years.

Just because our savings COULD become devalued, doesn’t mean we shouldn’t save.

[vash]

^^those are kinda cool looking!!

all the doom and gloom people just preach the doom and gloom half of the equation..nobody offers real advice.

i save and hope for the best..diversify and chit.

[onewhippedpuppy]

Originally Posted by vash

^^those are kinda cool looking!!

all the doom and gloom people just preach the doom and gloom half of the equation..nobody offers real advice.

i save and hope for the best..diversify and chit.

If 25% of what Tabs preaches comes true, money won't matter anyway. Hence why I invest my money in mutual funds, along with guns and ammo. I'm trying to cover my bases......

[tabs]

Originally Posted by mreid

I saved a million confederate dollars! Got them through an inheritance. My great grandfather kept 10,000 $100 bills in his mattress. Thought I was rich, didn’t need to save anything else.



Then I found out they were worthless. Well, a collector told me he could probably get me 25 cents on the dollar selling them one at a time. Given they are uncertified, we’d be lucky to sell them all in the next ten years.

Just because our savings COULD become devalued, doesn’t mean we shouldn’t save.

I have also preached that you have to play the game as if the music will go on forever. You have to save...and the ones that have should be applauded for being so responsibly prudent. That said you have to be chastened to realize that no time in American history has the game been played so insidiously reckless. A course that has a collision in the future. What I remind is that you BOYZ sound very complacent and SURE that things will continue as they are. You know nothing different. What I do not hear is that element of uncertainty in the future.

The way that this game is being played by YOUR LEADERSHIP is to fk the responsibly prudent in the azz. You hard work and diligence is being robbed...by the printing of more money and deficit and debt...all of which undermines the stability of the system itself. As the CSA government and it's currency is no more...so is the USD heading in that direction. The CONVERSE is that if the leadership did not act in the manner that they are you would already have been wiped clean. By borrowing money and printing it they keep the music playing for another day. Better the devil you know than the one you don't. That was the stark choice to be made in 2008.

The system is morphing as we go along...the deeper you go into debt the more the pressure builds on society and the more aberrational it becomes. It slowly becomes the new norm. In this case especially after 2012 it has become evermore irrational. That swirl of madness again. Trump is certainly a divergence from what we would call the SOP of the establishment leadership. In that he is a reflection of the swirl of madness and the poster boy of the new norm.

The question becomes, is Trump a one off anomaly or is he the poster boy of things to come? I think the mold has been broken and you can not put it back together again. The advent of Trump is part of the progression, arc or trajectory of history. One thing leads to another. You are going from bad to worse and not vice versa...who would have thought that an out and out Left wing socialist like BO could ever become President? From the perspective of socialists BO might appear to be rather conventionally middle of the road, but his ideology certainly was not. BO never ever said what he thought publicly, he always edited.

[Tidybuoy]

Many young people think they cannot afford to put anything into their 401k and I always tell them to start small....1 or 2% and then every time they get a pay increase, up the percentage. Eventually, you'll be at the 15%+ contribution and won't even notice. Another suggestion is to contribute the amount needed to get the full company match.

As CFO of my company, I always have people coming to me for 401k advice (which I don't like to give as I'm not a financial advisor). However, I do explain that most of our choices in our 401k are conservative compared to what you could buy on the market. I have prepared many time-value schedules for employees showing them how money compounds over time. I also show them that $1.00 invested really only costs them about $0.75 with the tax effect. I'm happy to say that I have convinced dozens and dozens of employees to get started.

Personally, I contribute the max + the 50+ catch up provision. Haven't reached the $1 mil mark yet but I'm trying.

[tabs]

Originally Posted by flatbutt

then please be quiet

Boy you are dum...

There is a practical application of what I say. What you read is the analytical synthesis in abstract intellectual terms. To spell it out for you in simple terms I am writing a mathematical equation on the blackboard. As Einsteins MC2's practical application resulted in the atomic bomb, the application of what I write is what you hear in the news everyday.

[tabs]

Originally Posted by Tidybuoy

Many young people think they cannot afford to put anything into their 401k and I always tell them to start small....1 or 2% and then every time they get a pay increase, up the percentage. Eventually, you'll be at the 15%+ contribution and won't even notice. Another suggestion is to contribute the amount needed to get the full company match.

As CFO of my company, I always have people coming to me for 401k advice (which I don't like to give as I'm not a financial advisor). However, I do explain that most of our choices in our 401k are conservative compared to what you could buy on the market. I have prepared many time-value schedules for employees showing them how money compounds over time. I also show them that $1.00 invested really only costs them about $0.75 with the tax effect. I'm happy to say that I have convinced dozens and dozens of employees to get started.

Personally, I contribute the max + the 50+ catch up provision. Haven't reached the $1 mil mark yet but I'm trying.

A long time ago I explained compounding of interest to a little 4th grade girl and her older sister...she got the concept and hopefully it stuck with her.

[Noah930]

Originally Posted by tabs

A long time ago I explained compounding of interest to a little 4th grade girl and her older sister...she got the concept and hopefully it stuck with her.

OK, slight threadjack, but regarding your above post and the overall theme of the thread: Let's say you have a kid, Tabs. Would it be crazy to start a Roth IRA for them?