From a VP job to flipping burgers and handing out free samples: Here's a cautionary tale of what can

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anonymous6

Guest
upschuck said:
My mom lives on her SS only, has a lot of money stashed away, but does not want to use it. Grew up just post depression era so parents drilled that into her to live within her means. That was one of the best things parents taught me as a kid.
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that's very true with me also. parents told me some horror stories about the depression. my dad and uncle had to live in a childrens home for awhile because my grandparents couldn't feed all 6 kids. that had a real impact on his life.

I don't think my parents drilled it into me but I just learned from the example they set.
 
Catatonic

Catatonic

Nine Lives
upschuck said:
My mom lives on her SS only, has a lot of money stashed away, but does not want to use it. Grew up just post depression era so parents drilled that into her to live within her means. That was one of the best things parents taught me as a kid.
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Should have taught you to have respect for your elders too!
 
UpstateNYUPSer(Ret)

UpstateNYUPSer(Ret)

Well-Known Member
Go in to work this morning and look around the parking lot at all the new cars/SUV's/trucks. Ask some of your co-workers how much they have saved for retirement---their answers may shock you.
 
BMWMC

BMWMC

B.C. boohoo buster.
pretender said:
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

― Albert Einstein
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Compound interest assumes a return on money via PAID interest compounding faster than the RATE of inflation, which is , ALSO compounding. Its a zero sum game if they match and if interest rates are suppressed (like now) and rates of inflation are far higher than reported (like now) the eighth wonder tuns into a magnificent BLUNDER!!!!!

When Albert Einstein wrote that quote the US dollars was back by a gold standard and the Central banks didn't print 10s of trillions of fiat paper money to paper over its own reflationary follies. This is a vastly different fiat money world.

Look at the stock market for instance. All those record highs, right? Well if $1=1 Trillion on the Federal Reserve balance sheet in 2008 what does $1= 4 Trillion on its balance sheet as of Dec 31st 2013? Or, 1= 5 Trillion at the end of 2014? That's right its only worth a quarter, 1/4, .25, so slash those record highs by 75%. Its all just a paper game. If your are smart I would take 25-30% of your paper "wealth" and turn it into something tangible like GOLD/Silver (no real estate taxes, maintenance, counter party risk) which today 1 troy ounce still buys exactly what 1 troy ounce could buy 5000 years ago. NO gold and silver ETF mind you, BUT, Physical gold and silver YOU take possession of, IN YOUR HAND.
 
BMWMC

BMWMC

B.C. boohoo buster.
Just found this worthy post on another message board. Its really tells all and why I have implored people to start getting out of paper assets.



"Fed Vice Chair Janet Yellen, who is set to take the reins at the U.S. central bank next month, has often touted this approach, including tolerating higher inflation for a short time in order to speed up the overall economic recovery."

This policy is destroying the country. The money changers at the federal reserve engineering monetary inflation with out wage growth to match has destroyed a 70% consumer driven economy. Wages are stuck in the seventies yet housing food and energy have more than doubled in that time.
The bankers path to prosperity is to steal the value of the countries workers stored in the dollar by printing that value out of air and destroying the time value of money with zero rates in a declining asset the dollar.
The workers path to prosperity is to store the value of their life's work in a stable dollar and appreciating assets to make their life's saving worth more not less.
With the law of the land stating publicly that the banks are to big to jail for money laundering fraud selling interest fixing currency manipulating electricity fixing the money changer at the fed is winning the war on poverty. QE is destroying the consumer.
 
A

anonymous6

Guest
bmwmc said:
Just found this worthy post on another message board. Its really tells all and why I have implored people to start getting out of paper assets.


"Fed Vice Chair Janet Yellen, who is set to take the reins at the U.S. central bank next month, has often touted this approach, including tolerating higher inflation for a short time in order to speed up the overall economic recovery."

This policy is destroying the country. The money changers at the federal reserve engineering monetary inflation with out wage growth to match has destroyed a 70% consumer driven economy. Wages are stuck in the seventies yet housing food and energy have more than doubled in that time.
The bankers path to prosperity is to steal the value of the countries workers stored in the dollar by printing that value out of air and destroying the time value of money with zero rates in a declining asset the dollar.
The workers path to prosperity is to store the value of their life's work in a stable dollar and appreciating assets to make their life's saving worth more not less.
With the law of the land stating publicly that the banks are to big to jail for money laundering fraud selling interest fixing currency manipulating electricity fixing the money changer at the fed is winning the war on poverty. QE is destroying the consumer.
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what appreciating assets do you suggest rather than gold and silver? your home would only be good if you sold at a high er price and then bought down. good post .
 
Catatonic

Catatonic

Nine Lives
bmwmc said:
When Albert Einstein wrote that quote the US dollars was back by a gold standard and the Central banks didn't print 10s of trillions of fiat paper money to paper over its own reflationary follies.
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Einstein never wrote that quote.
Silver is not a good investment now.
Gold is not a good investment now.

While I understand your point, it would be better to let metals reach a reasonable price and then buy.
Reasonable could be 50% of their current pricing.
 
Catatonic

Catatonic

Nine Lives
bmwmc said:
When Albert Einstein wrote that quote the US dollars was back by a gold standard and the Central banks didn't print 10s of trillions of fiat paper money to paper over its own reflationary follies.
Click to expand...

Einstein never wrote that quote.
Silver is not a good investment now.
Gold is not a good investment now.

While I understand your point, it would be better to let metals reach a reasonable price and then buy.
Reasonable could be 50% of their current pricing.
 
A

anonymous6

Guest
precious metals go up and down so much in their prices. that's why I use dollar cost averaging in my vanguard fund covering precious metals. its one of my best performing funds.
 
Bagels

Bagels

Family Leave Fridays!!!
Financial services encourage people to over save, because there's HUGE monies to be earned from managing & controlling their monies.

I work with oodles of guys in their 50s who think that they need $1M in their 401K, in addition to their social security and pensions. Do they realize that by the time they retire, they're nearing the end of their life? To they realize that as they get older, life slows down? Most people in their 70s have no interest in going out to dinner every week, or spending time at Disney World.

I live an incredibly fulfilling life -- probably more-so that most of the FTers I work with -- despite earning only about $25K/year. My biggest regret was taking on a second job (I should've returned to school sooner). When I made $40K/year, I lived a "higher" lifestyle; e.g. satellite TV complete with NFL Sunday ticket, spending $3.50/gallon on milk at Safeway rather than going to Aldi's for $1.99 (because of time restraints). The more I made, the more I spent... even though I wasn't really enjoying the "fruit" of it (in other words, I blew my money).

People really need to find a balance of needs//wants, & plan/save for now and the future. If you're young, take your family on a vacation to Disney World. Don't wait until you're in your 70s to blow the $$$ Suzzie Orman covinced you to save on video poker.

(And FWIW: a full month's social security check at age 65 will pay for an ocean-view apartment & months' worth of food, transportation & other necessities in beautiful, sunny, Panama City, Panama. If there's a will, there's a way!)
 
BMWMC

BMWMC

B.C. boohoo buster.
Bagels said:
Financial services encourage people to over save, because there's HUGE monies to be earned from managing & controlling their monies.

I work with oodles of guys in their 50s who think that they need $1M in their 401K, in addition to their social security and pensions. Do they realize that by the time they retire, they're nearing the end of their life? To they realize that as they get older, life slows down? Most people in their 70s have no interest in going out to dinner every week, or spending time at Disney World.

I live an incredibly fulfilling life -- probably more-so that most of the FTers I work with -- despite earning only about $25K/year. My biggest regret was taking on a second job (I should've returned to school sooner). When I made $40K/year, I lived a "higher" lifestyle; e.g. satellite TV complete with NFL Sunday ticket, spending $3.50/gallon on milk at Safeway rather than going to Aldi's for $1.99 (because of time restraints). The more I made, the more I spent... even though I wasn't really enjoying the "fruit" of it (in other words, I blew my money).

People really need to find a balance of needs//wants, & plan/save for now and the future. If you're young, take your family on a vacation to Disney World. Don't wait until you're in your 70s to blow the $$$ Suzzie Orman covinced you to save on video poker.

(And FWIW: a full month's social security check at age 65 will pay for an ocean-view apartment & months' worth of food, transportation & other necessities in beautiful, sunny, Panama City, Panama. If there's a will, there's a way!)
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Well said.
 
BMWMC

BMWMC

B.C. boohoo buster.
Hoaxster said:
Einstein never wrote that quote.
Silver is not a good investment now.
Gold is not a good investment now.

While I understand your point, it would be better to let metals reach a reasonable price and then buy.
Reasonable could be 50% of their current pricing.
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Correction noted.

Silver and gold are always good buys BUT there are NOT investments. They are insurance.

I buy 1 or two coins of gold every month whether its goes up or down. I plan to continue to add until I reach 35% of my net worth. Then never sell them unless the purchase is compelling. When you look at what the rest of the world see's gold as you get the big picture. In India, China, and for 6 billion other people on this planet GOLD will always be money where as fiat paper will always be just a currency.
 
Returntosender

Returntosender

Well-Known Member
"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; debt is the money of slaves "Norm Franz
 
A

anonymous6

Guest
Bagels said:
Financial services encourage people to over save, because there's HUGE monies to be earned from managing & controlling their monies.

I work with oodles of guys in their 50s who think that they need $1M in their 401K, in addition to their social security and pensions. Do they realize that by the time they retire, they're nearing the end of their life? To they realize that as they get older, life slows down? Most people in their 70s have no interest in going out to dinner every week, or spending time at Disney World.

I live an incredibly fulfilling life -- probably more-so that most of the FTers I work with -- despite earning only about $25K/year. My biggest regret was taking on a second job (I should've returned to school sooner). When I made $40K/year, I lived a "higher" lifestyle; e.g. satellite TV complete with NFL Sunday ticket, spending $3.50/gallon on milk at Safeway rather than going to Aldi's for $1.99 (because of time restraints). The more I made, the more I spent... even though I wasn't really enjoying the "fruit" of it (in other words, I blew my money).

People really need to find a balance of needs//wants, & plan/save for now and the future. If you're young, take your family on a vacation to Disney World. Don't wait until you're in your 70s to blow the $$$ Suzzie Orman covinced you to save on video poker.

(And FWIW: a full month's social security check at age 65 will pay for an ocean-view apartment & months' worth of food, transportation & other necessities in beautiful, sunny, Panama City, Panama. If there's a will, there's a way!)
Click to expand...


easier said than done. if I were all alone, I would never work for this place. but I have a wife ( with cancer ). 6 grown children ( 2 daughters have serious health issues ) and 12 grandchildren that we will try to help go to college.

work all that into the equation.
 
Bagels

Bagels

Family Leave Fridays!!!
orangputeh said:
easier said than done. if I were all alone, I would never work for this place. but I have a wife ( with cancer ). 6 grown children ( 2 daughters have serious health issues ) and 12 grandchildren that we will try to help go to college.
work all that into the equation.
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Providing for your grown children as well as your grandchildren is not your responsibility. It amazes me (and I'm writing this as a generalization, not a reference to your - or anyone else's - circumstance) how many Baby Boomers continue to work to provide for their grown children who are struggling in this economy... when if the Baby Boomers themselves retired, they'd open up better opportunity for their children.
 
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