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Aliriel t1_jb46eel wrote

Worked my whole life paycheck to paycheck. What do you think female office workers make? Only vacation was a couple days on a car trip. I keep my cars till they die a natural death. My clothes are from Walmart. There's no $100 a week extra.

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TzarKazm t1_jb2sc2v wrote

She says "I have a live for now attitude I guess ". That's kind of how you get to 66 and have no savings.

I know way too many people with no plan for retirement, but they drive new cars, take expensive vacations, and just don't worry about the future. Living like that would stress me out.

I actually have a friend who got laid off and got a severance. They decided the best thing to do with that money is to take the kids on a trip to Japan because "they would probably never see that much money again".

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[deleted] t1_jb3iyto wrote

[removed]

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TzarKazm t1_jb4hn9l wrote

They are very nice people, both have degrees, but have a weird relationship with money. They both grew up poor, so they feel like the best plan for money is to spend it fast before it runs out. It sounds crazy because it is, but people don't always really "get" the concept of saving money.

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[deleted] t1_jb6hrwt wrote

As someone that grew up poor and is now doing well, I can relate to this mentality to a degree. The opportunity to do something big doesn't come often. You could save it for a rainy day or emergency but by then you might be too old to enjoy the money... or some big expense will wipe it out and you just keep slogging.

I save money for retirement and have an emergency fund but I also spend my money too. I know some people that cannot bring themselves to spend any resources because "what if....". To the point where they could definitely afford something that would make their lives easier but refuse to do it be a use they might need that money for something else later on. So, they don't live their life out of fear of needing money for things that rarely materialize if ever. As though it's morraly wrong to spend money on anything that would bring enjoyment or entertainment because that's "wasteful".

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Unique-Public-8594 t1_jb2s9gm wrote

> she sold her home and bought a smaller one with two other women.

That sounds like a smart strategy.

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RoastyToasty3 t1_jb2ypch wrote

I know a woman who did this exact thing in Miami. Then one day, one of the room mate’s mother shows up because her nursing home burned to the ground. Now all four of them live together. They’re thankful for the friendship.

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Bad-Habit-2020 t1_jb30j2h wrote

Thank you for being a friend RoastyToasty3. You're a pal and a confidant!!!

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Jack__Squat t1_jb511uh wrote

I'll be working til noon on the day of my funeral.

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sbaz86 t1_jb6boww wrote

Noon? You will receive a write-up for leaving early that day, and then they will take away your whole pension for the no-call-no-show firing the following day.

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raventhemagnificent t1_jb3i6q1 wrote

Retirement? Nah. That's a legend. Someday we'll tell our children stories of a time when you would be productive for the greater good most of your life and then live leisurely in your golden years. Now bow to the politicians who always keep our best interests in mind.

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anevilpotatoe t1_jb4ex2y wrote

We kissed the middle-class goodbye. Now the hurdles to owning a home are beyond reach if you already floating just above the Government and State rated poverty levels.

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pmk0286 t1_jb64tr3 wrote

“I have a live for now philosophy I guess”…just like the rest of America.

So sad. I have friends who don’t know how much they contribute to their own 401Ks. Or what the balance is.

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Mountain_Bill5743 t1_jbc7uqd wrote

To be fair, the expectation is for every working American to have a working understanding of retirement financial literacy which isn't very reasonable for many citizens with sub-par skills in math. 401ks were only introduced near like 1980, so many people retiring now had parents who never used them and couldn't provide much guidance themselves. While it is on the individual to still understand this, the scene is also littered with sketchy investments and high-fee salesmen who people trying their best fall victim to (someone convinced my 90 year old grandparents once to sign up for a 10 year CD once).

People growing up now should have a better idea, but it's a bit unfair how much responsibility the US places on the individual.

But I agree this woman's comments are concerning and probably a window into her earlier choices.

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ChronicCumShots t1_jb55m12 wrote

This is so sad, blows my mind there’s so many people who still think basic necessities shouldn’t be covered by the government after reading things like this all the time

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tbsynaptic t1_jb69teg wrote

They shouldn’t be. The government isn’t your mother.

Earn your own money and stop relying on welfare from the government.

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[deleted] t1_jb6gnqf wrote

The problem is when people who are working 2+jobs can't afford to pay rent and basic needs.

Meanwhile, Jeff Bezos makes $219M per day and pays shit in taxes while people like you think the answer is "just stop relying on the gov't".

There is a very basic and fundamental problem: the elitist rich people in the US have a hugely disproportionate share of wealth compared to the average American.

The answer isn't to "just work harder" or "find a new job". The economy is fundamentally broken and skewed against the average person... who by the way are doing the majority of work to line the pockets of those ultra rich folks.

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ChronicCumShots t1_jb6bo97 wrote

Other countries have government funded health care, pay less for it, and have better outcomes. These are literal facts, but go on and keep supporting an objectively horrible system

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tbsynaptic t1_jb6cglc wrote

Then go there.

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ChronicCumShots t1_jb6d94p wrote

You are just beyond fixing aren’t you?

Me: presents objectivity better solution

You: UHH DUHH CANT BE DONE HERE

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SaltyNewEnglandCop t1_jb3j4lq wrote

$100 a paycheck over 30-40 years can make a huge difference in the retirement years.

Better yet, pay off the house early and sink the mortgage payment you used to make into a retirement account and then you’ll really be set.

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the_falconator t1_jb3mi16 wrote

Mortgage interest is usually less than stock returns, so pay the minimum on the mortgage put the rest into a Roth IRA. Unless the mortgage rate is above 6 or 7%

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SaltyNewEnglandCop t1_jb5m3gg wrote

If you can max out the Roth, max out work plans, always pay off the mortgage early.

Utilize the tax benefit plans and get that appreciating asset paid off.

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pmk0286 t1_jb65avh wrote

Pay off mortgage early. Continue to make half of a “mortgage payment” amount to investment vehicle of your choice.

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SaltyNewEnglandCop t1_jb6i00f wrote

While taking the over half to make an emergency fund that will cover a years worth of life.

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saltrifle t1_jb60h65 wrote

Very simplified answer but honestly the truth. You aren't lying.

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FoleyisGood t1_jb6xtso wrote

wait is that all it takes? sweet - i was wondering what to do with all that money i just had laying around

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SaltyNewEnglandCop t1_jb6z23x wrote

$100 a week for 40 years at an average ROI of 7.5% with an anticipated inflation rate of 3.0% will yield at expected balance of $706,311 upon the end of the 40 year term.

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RedditSkippy t1_jb51e8f wrote

A friend of mine and her husband have two kinds, two houses, a very nice car, and somehow do all this on one income. Maaaaybe her husband makes serious bank, or maybe they’re able to fully cover their living expenses with rental income, but I’m not convinced. I can only assume that they’re just about living paycheck to paycheck.

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ExploitedAmerican t1_jb6iv22 wrote

American capitalism has been deregulated and money intentionally devalued to the point where it is just one small step away from slavery. That being the free choice which in reality is non existent because there is no choice for most when you are coerced to perform labor via the threat of homelessness and starvation

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