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Half of Americans die nearly broke?

serfserf Member Posts: 7,317 ✭✭✭
edited June 2017 in Politics
It's goes to show you the sheple are lead down the golden path to destitution and our government has been gutted by politicians and lobbyist and is just as broke as it's citizens! We need more young illegals to prop up the ponzi scheme so the baby-boomers don't riot! [:D]

serf


https://www.usatoday.com/story/money/personalfinance/retirement/2017/06/02/almost-half-of-americans-die-nearly-broke/102312340/

The problem is that dying nearly broke isn't just a matter of denying one's beneficiaries an inheritance. Rather, it points to a frightening degree of financial vulnerability during retirement. If seniors are passing without much in the way of assets, it means that in the years leading up to their death, they're ill equipped to handle a major unexpected expense, such as a significant medical bill. In fact, in that same GoBankingRates survey, only 37% of seniors 65 and older claimed to have $1,000 or more in the bank.

Comments

  • Dads3040Dads3040 Member Posts: 13,788
    edited November -1
    A person's financial state is very closely related to the choices they have made. I have made a very good living, but I have a friend who has always made more than me. At any given point I could buy and sell him without making a dent in my checkbook, for no other reason than he doesn't seem to understand that there is no expiration date on a dollar bill.

    Don't be a Financial F'up and you won't die penniless, regardless of what the Ebil Gubmint does.
  • eastbankeastbank Member Posts: 4,215
    edited November -1
    AGREE, i have several friends who are house,car and boat poor and still don,t understand whats going on. when they ask me how i keep up and always have money in my pocket, i just say why don,t you try living with in your means and i get the deer in the head light looks. mr myopic.
  • 11b6r11b6r Member Posts: 16,725
    edited November -1
    Actually, my goal in life IS to die broke. That means that I got to spend (and enjoy) what I earned, instead of having the tax vultures swoop in.

    But I agree there are people living way beyond their means. If not for MasterCard they could not come up with $5 to tip the kid with the pizza.
  • gruntledgruntled Member Posts: 8,402
    edited November -1
    Which means they pay that much more for a pizza than I do so I can buy that many more pizzas. Waste not, want not.
  • MobuckMobuck Member Posts: 11,440 ✭✭✭
    edited November -1
    How much money you have when you die DON'T MEAN SPIT.
    How you lived the life you had is priceless and IT IS YOUR CHOICE.
    There will always be someone else "who can buy and sell YOU" in the end.
    My "beneficiaries" will get their inheritance from me while I'm alive to see them enjoy it.

    Before I retired, I made it a point to be broke on Dec 31 of every year knowing I'd have a paycheck within a week or two to start the next year. Since retirement, I've "ratholed" money from sales and my part time work and have more $$ than I EVER had during my working career.
  • serfserf Member Posts: 7,317 ✭✭✭
    edited November -1
    quote:Originally posted by Mobuck
    How much money you have when you die DON'T MEAN SPIT.
    How you lived the life you had is priceless and IT IS YOUR CHOICE.
    There will always be someone else "who can buy and sell YOU" in the end.
    My "beneficiaries" will get their inheritance from me while I'm alive to see them enjoy it.

    Before I retired, I made it a point to be broke on Dec 31 of every year knowing I'd have a paycheck within a week or two to start the next year. Since retirement, I've "ratholed" money from sales and my part time work and have more $$ than I EVER had during my working career.


    The fact is your labor that translates into wealth is manipulated either by bail outs,free trade agreements,inflation,flat wage growth,interest rates,devaluation of money,trade debt,taxes,over population and Fiat funny paper money that can fluctuate with Central banks agreements with derivatives etc...

    Over time America has become nothing but another vassal of the nation states that the politicians have built with our foreign oversea interventions and foreign aid giveaways to build Their NWO.

    The average individual is poorer regardless of what and how he/she uses spends or saves in the long run. Hydrocarbons is the biggest casino game that was played the last few years and they need to transfer our dependence on them to something Else soon.

    This is going to cause a bottle neck soon especially if war comes globally.

    serf
  • MobuckMobuck Member Posts: 11,440 ✭✭✭
    edited November -1
    "The fact is your labor that translates into wealth is manipulated either by bail outs,free trade agreements,inflation,flat wage growth,interest rates,devaluation of money,trade debt,taxes,over population and Fiat funny paper money that can fluctuate with Central banks agreements with derivatives etc..."

    So why worry about how much(or how little) money you have as long as you're not hungry or cold?
  • eastbankeastbank Member Posts: 4,215
    edited November -1
    i would like to have a little more than a full gut and warm-cold.mr myopic.
  • gunnut505gunnut505 Member Posts: 10,290
    edited November -1
    This link will take you to a story about a Capitol City declaring bankruptcy, "even though they have the highest property taxes in the state".
    It goes on to blame prooerty tax exempt Gubmint buildings and schools for their growing $49.5 Million deficit.
    A city Official claims that they've laid off over 15% of the uniformed services, with firefighters taking the biggest hit.

    THIS mentality; that taxpayers are just a resource for funding their agenda.
    That you can work your whole life, paying taxes for every little thing you do, or eat, or wear, or create; giving over half of your labor simply to appease an agenda-driven mega Hall Monitor and associated minions.
    It ain't right.[V]


    https://www.wsj.com/articles/hartfords-finances-spotlight-property-tax-quandary-1496750405
  • droptopdroptop Member Posts: 8,925
    edited November -1
    That's what you supposed to do,, when will the other half "catch on".

    Can't take it with you.
  • serfserf Member Posts: 7,317 ✭✭✭
    edited November -1
    FYI, The stock recommendations can be taken with a grain of salt but The Politicians destroying out Financial system with derivations is spot on!

    serf

    http://wallstreetinsightsandindictments.com/special-reports-video/a-conspiracy-of-greed-how-to-beat-crony-capitalists-at-their-own-game-and-save-the-middle-class/

    How Financialization Snaked Its Way Into Our Government

    The road to financialization began with the overturning of longstanding public and economic protections starting with the Depository Institutions Deregulation and Monetary Control Act of 1980, a Trojan horse that let banks establish holding companies and gave the Fed more power over more banks.

    That major deregulatory action was followed quickly by the Garn-St Germain Depository Institutions Act of 1982, which leveled the playing field for banks and their holding companies experiencing disintermediation and decreasing profitability at the hands of newly minted competitors.

    Ultimately, a series of subsequent rules- and regulations-trimming by Congressional cronies crescendoed with the Gramm-Leach Bliley Act of 1999, whose main function was the total repeal of the Depression-era Glass-Steagall Act that for decades separated insured, deposit-taking commercial banks from swashbuckling investment banks.

    That?s how elitist Democrats and Republicans paved a super-highway for the financialization of the American economy and their personal enrichment from the country?s transformation.

    Who were the Republicans and Democrats behind the wholesale transformation of America, and where are they now? You?d be shocked at how many of them you know as Senators, House members, cabinet Secretaries, principal regulators? Supposed stalwarts of American prosperity, who?ve become filthy rich at the expense of the middle class, on whose backs and from whose labor and savings they?ve enriched themselves personally and their reelection war chests. I?ve written thousands of pages in Insights and Indictments naming names and calling these sellouts what they really are: crony capitalist pigs.

    The proof is in the pudding. Actually, make that pooling.

    Without financialization we never would have had the subprime mortgage crisis and the devastating stock market and financial systems crashes.

    Home mortgages used to be made ?locally? by bankers, thrifts, and credit unions that knew their communities, knew the value of properties and neighborhood borrowers. Mortgage loans mostly stayed on the books of lending institutions until maturity or until properties were sold.

    Financialization shook up the staid and steady establishment with its cheap come-on capital, its pooling techniques, its structuring, its tranches, its derivatives and synthetic derivatives of derivatives. It turned a utility service into a speculative pyramid of leveraged loans that looked and acted more like a Charles Ponzi scheme than the sophisticated, high-yielding, supposedly safe (packaged with government approval and guarantees) financial instruments they were made out to be by rating agency co-conspirators.

    We know how that ended.
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