Bought silver, food, and lot of single malt scotch.
We're ready for zombies now, baby.
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 12/28/2010 8:23:31 AM PST by Frantzie
Retirement account fantasy and middle class erosion – 1 out of 3 Americans has zero dollars in a retirement account.
From 1950 to 1989 top 1 percent earned roughly 7 to 8 percent of nationwide income. Today it is inching closer to 20 percent resembling pre-Great Depression levels.
Many Americans live precariously close to the edge of financial insolvency flirting with economic disaster daily.
(Excerpt) Read more at zerohedge.com ...
“and that is the unknown that keeps those who understand, still working llllooooonnnnggggg after they could have retired.”
The government is always making things exciting :)
So far the best bet seems to buy at 10-100 acres somewhere, build a small house and load up with guns. At least you will not starve, or starve a little later than most.
Personally, I think everyone should stop contributing to their 401Ks and see what happens to the stock market without your contributions.
Ayup. I'm just a dim-witted Dhimmi.
You get any snow today? Someone mentioned it was coming down in the east-mountain area.
“Retirement is a fantasy created during the great depression to artificially lower the unemployment rate.”
Agreed. Most people will continue to work after the magic age of retirement.
The biggest obstacle to even coming close to retirement is debt. If you have no debt you can maintain a comfortable standard of living with much less than someone carrying the chains of the debtor.
Debt is another form of servitude for the average person. Unless we start teaching ourselves from a very young age that debt should be avoided at all costs and why our American experiment will certainly fail.
Half inch or so, the road was just wet.
Thank goodness we're "free tradin'" them nothing, buggy-whip jobs that no one wants.. we got maybe ten or twenty high-paid jobs to replace each one of those awful factory jobs.
Wot?
. . . fully 21 months into the 2001 recovery
21 months into "the past [recession recovery] upturns, real wage income has been up, on average, by about 9%. The gap between the current cycle and the norm of earlier cycles works out to a shortfall of about $320 billion in real terms, or 4.4% of the current level of real disposable personal income...Sourcing demand through low-cost, offshore labor input has become an increasingly important tactic to enhance the operating efficiency of US businesses. . . While this has resulted in a significant improvement in corporate earnings, the American workforce is not sharing the benefits. . .Imported productivity, together with the jobless recovery and income leakage it implies, is the stuff of heightened trade frictions, mounting protectionist risks, and a populist assault on Corporate America."
Jobless recovery and income leakage. A shortfall of about $320 billion in real terms.. that's a lot of money that Americans did not recover during the last (and maybe literally the last) recession recovery no matter how feeble it was compared to historic recoveries.
Wot? Yes, we saved $1,000 each on the 320,000,000 Red China-made I-pads sold here so, yes, I guess you could say that it's a wash.
You probably didn’t forget that after three comes four, five and six, etc.
With what remains of your SS, you then must spend it on fuel for example, where the federal and state taxes you are paying, alone nearly doubles the price of your fuel.
Exactly. Also, working tends to keep one sharp. I have seen too many retirees who just are a shadow of their previous selves even after just 2 years of retirement. When the time is right, I will probably drop down to a part-time job, but will likely keep working into my 70s.
Good insight. 401K contributions are one of the few things keeping the stock market afloat. Honestly, given the state of the economy, I don't understand why the markets are as high as they are. The markets have been eagerly embracing tiny bits of good news and ignoring the ample bad news.
Amen!
Heck, that's not worth getting one's hopes up for. My kids absolutely went nuts for the snow we got on the 16th/17th. I even got a decent snowball fight out of it with 'em. They had a 5' tall snowman built by the time I got home (not bad for 7 and 3 years old with mom's help stacking).
I don’t believe in retirement accounts!
I clean up the money every year and there won’t ever be future taxes on it.
No no. I got the point. I KNOW BHO is ruining our great country. He is not even an American. He hates everything about this country. Of course I know that.
The feds and most states tax fuel at a per/gallon rate, not on price. Some states do add a sales tax to the price which already includes the fuel tax, which is bogus, but that's the way it is. Therefore, at a fixed, per-gallon rate, the higher the price of fuel, the lower the relative taxes paid on it.
Also, working tends to keep one sharp.
Speaking of relative.
I’m not as sharp physically as I was, but the mind isn’t
doing too badly, which helps to overcome the first point. Hope this isn’t one of those lead lines that make me wish I had my firesuit on.
I clean up the money every year and there won’t ever be future taxes on it.
If’n I was a mind reader...
It amazes me how myopic some people are. I am not a tv watcher myself.. but is that your one hit wonder solution to ALL the problems in the world? LOL
Its comical to think that cable tv itself is the only reason people do not have money for retirement.. and it reeks of someone pushing an agenda.
Then again, someone like me has zero dollars in a retirement acct, because I prefer hard assets like gold and silver and have my cash parked in that instead. I guess I am just a “lazy tv watcher” lol
Bought silver, food, and lot of single malt scotch.
We're ready for zombies now, baby.
Try to connect the dots. Monthly cable and sat TV bills keep the propaganda machine in business. Never mind - go back to your little dream world and serfdom.
>>How long before Obama or someone like him declares the essential unfairness of it all, siezes 401ks and IRSs and redistributes the cash, the underpriviliged and illegal aliens first in line.<<
If the Boomers allow the Government to snatch their private accounts without hot and heavy armed resistance then they deserve what happens. As I have previously said in other threads,
“IMO, it should be common knowledge where their city, state and federal officials, the county bureaucrats and local and federal police officers live, every single one of them!
It is not difficult to make someone live in fear for their lives as many of you already know. Making our elected local, county, state or federal officials acutely aware of that feeling is not a popular idea amongst the posters on this thread but having that taste in your mouth is not one quickly forgotten. Don’t go after them in their protected offices when their families are as vulnerable as our are.
If our LEO’s or military troops under the orders of our elected local, county, state or federal officials ever administer violent treatment to US citizens then it should be returned in equal force to their superiors families.
I promise you that a single bullet through the kitchen window of the Mayors house will make for an excited dinner conversation. The Mayor will then understand exactly what he did when he ordered violence against his townspeople.
The Chief of Police’s wife isn’t immune from explaining to her husband what a wonderful job he’s doing if her home receives a copper jacketed message through her front door or bedroom wall.
There is no need to go after the street level officers, their bosses are the ones who issue the orders and they should be the ones to receive the 1200+ foot per second message.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.