75% of Americans live paycheck to paycheck

Going back to my point about some savers being obnoxiously self righteous:

Dave Ramsey fan wrote:

This is why most people who live paycheck to paycheck do so:

Too much money spent, relative to income, on cell phones, cable TV, beer, cigarettes, eating out, vacations, cars, clothes, housing. And of course buying just plain junk that they don't need.

Buying things on credit so money spent simply on interest payments.

Poor career choices and refusal to take the steps necessary to improve one's skills and knowledge.

Are there exceptions? Yes. But they are exceptions, and not the rule. The vast majority of people in America could get out of debt and better their financial lives if they were willing to make the right choices.

So the democratic socialist utopian countries won't let you in? Do they hate immigrants or something? Sounds pretty bigoted to me. You're probably better off sticking with the USA. Although, with your ungrateful attitude, and delusional inability to recognize the good things about the USA, I do wish you would leave.

meatwad wrote:

Ummm . . . Man wrote:

None of your damned business what he chooses to do with his money.

??

If you're talking about the OP, the guy literally started a pointless thread about exactly what he does with his money, and apparently questions are off the table? Get a grip.

That was a fair question, too, but if someone wants to flush a sizable portion of their income down the toilet then that's their choice. Especially for an archaic institution where knowledge is shunned and pedophilia is embraced.

Biotch.

As I said, none of your damned business what he does with his money.

And your attempt to hijack a thread about the state of Americans' finances warrants a solid 0/10, you vomit of a dung beetle.

Its 100% in your control.

To blame outside factors is only passing the blame that your have not prepared a life plan and budget.

Pick your retirement age and works backwards. What do you have for retirement goals and that will help you plan what you need to do to accumulate your wealth.

Sacrifice is part of the big picture. If your stuck where you live and cannot expand job opportunities to gain more wealth , then you are stuck. Take risk, be flexible, chase opportunity. You can dictate your future if you desire.

Most of my savings goes to government & corporation theft.

Drop the line wrote:

Its 100% in your control.

To blame outside factors is only passing the blame that your have not prepared a life plan and budget.

Pick your retirement age and works backwards. What do you have for retirement goals and that will help you plan what you need to do to accumulate your wealth.

Sacrifice is part of the big picture. If your stuck where you live and cannot expand job opportunities to gain more wealth , then you are stuck. Take risk, be flexible, chase opportunity. You can dictate your future if you desire.

Not a bad attitude and approach to have in general.

However, it should be noted that one cannot really dictate one's future. There are many things that are out of one's control.

Of course, I know it comforts many to think that you really are fully in charge of your life and future. Unfortunately it is simply not true. As with your physical health, all you can do is improve your odds for a good outcome - by no means can you dictate that good outcome.

Corrupt Corporations wrote:

Most of my savings goes to government & corporation theft.

Nice lying.

Well, not really.

Pathetic lying. Good job!

Bro, I was thinking the exact same thing. Humblebrag = Flagpole.

HRE wrote:

Going back to my point about some savers being obnoxiously self righteous:

Dave Ramsey fan wrote:

This is why most people who live paycheck to paycheck do so:

Too much money spent, relative to income, on cell phones, cable TV, beer, cigarettes, eating out, vacations, cars, clothes, housing. And of course buying just plain junk that they don't need.

Buying things on credit so money spent simply on interest payments.

Poor career choices and refusal to take the steps necessary to improve one's skills and knowledge.

Are there exceptions? Yes. But they are exceptions, and not the rule. The vast majority of people in America could get out of debt and better their financial lives if they were willing to make the right choices.

Wow, you really put him in his place! No go back to working on Bernie's campaign and hopefully one day you can get those darn folks who plan and save and do without and work extra jobs to pay their fair share.

Lets eliminate those under 30. The rest of Lets Run I would bet is both highly educated and well on the way to a 7 figure IRA/pension/401K combo.

I am likely to reach this goal with a few years to spare. I despair for my children however. Reaching a comfortable retirement income is clearly something that is no longer a sure bet even for the over-achieving community posting on this board. Average household income is slowly coming to a global equilibrium. Something similar to this already happened to the standard of living in the UK after its golden age of colonialism ended.

Part of the problem is the Federal Reserve Notes we all are forced on by "legal tender laws" are designed to be inflationary (they are debt notes, not dollars*), so that even if taxes are lowered (thus allowing one to keep more "$"), inflation acts like an income tax. So even a person/family that saves "x" amount a month for emergencies, savings, retirement, etc., will find the purchasing/providing value of that "saved" amount much less in the future, thus facing a type of diminishing returns. The poster who blamed the government is historically correct, whether he/she realized it. They got us into this mess in 1913 with the Federal Reserve Act which gave us centralized banking and the removal of gold and silver as backing under FDR and Nixon, thus increasing the inflation process.

BeenThereDoneThat wrote:

Part of the problem is the Federal Reserve Notes we all are forced on by "legal tender laws" are designed to be inflationary (they are debt notes, not dollars*), so that even if taxes are lowered (thus allowing one to keep more "$"), inflation acts like an income tax. So even a person/family that saves "x" amount a month for emergencies, savings, retirement, etc., will find the purchasing/providing value of that "saved" amount much less in the future, thus facing a type of diminishing returns. The poster who blamed the government is historically correct, whether he/she realized it. They got us into this mess in 1913 with the Federal Reserve Act which gave us centralized banking and the removal of gold and silver as backing under FDR and Nixon, thus increasing the inflation process.

I suppose you preferred it before the Fed when the government had to beg private bankers like the house of Morgan to help with financial downturns?

You're missing some track meets and marathons by not having cable. There is free TV by going to nearby MICRO Center or Best Buy.

And you underscore the point once again. You both know how people spend their money, what job options they have and that almost none of them are nearly as virtuous as you are. How many actual people do you know who live paycheck to paycheck who do all the horrible things this guy mentions?

HRE wrote:

And you underscore the point once again. You both know how people spend their money, what job options they have and that almost none of them are nearly as virtuous as you are. How many actual people do you know who live paycheck to paycheck who do all the horrible things this guy mentions?

What horrible things were mentioned?

What do we spend it on?

$3500/year for Soccer Club

$2200 mortgage

$900 car payments

$5000/year wine

$10,000/year travel

Lots on gas, groceries, and 401k

HRE wrote:

And you underscore the point once again. You both know how people spend their money, what job options they have and that almost none of them are nearly as virtuous as you are. How many actual people do you know who live paycheck to paycheck who do all the horrible things this guy mentions?

So is your point that 100% of folks living paycheck to paycheck do so completely unrelated to choices they make and things they spend their money on?

I'll admit that some people have some extremely difficult obstacles to overcome, and I'll happily contribute to a social safety net for such folks.

But many, many folks living paycheck to paycheck could pull themselves out of that situation with the proper knowledge and discipline and planning. We live in this crazy age where if you point out that actions have consequences, folks like you make accusations of judging people and putting people down, and feeling superior, etc.

Well, sorry, but news flash -- if you don't study, and don't learn a skill, and have babies you can't afford, and despite making very little you still spend on cigarettes and beer and bar hopping and cable tv and the latest iphone and a newer car, then you are going to have money problems.

You just enable folks to feel justified to stay mired in their circumstances with an attitude that it's all just some rich people's fault.

Again, how many people who live from paycheck to paycheck do you actually know? Do you have any sort of data showing that "many folks living paycheck to paycheck could pull themselves out of that situation with the proper knowledge and discipline and planning?" Have you noticed that as real wages in the US have stagnated or declined in the US so has the rate of saving?

Let's make America great.

If you have negative things to say about this beautiful country you can get the f out!

Playing the role of pure ignorance is not easy.