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Half of Americans die nearly broke?
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.
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
Don't be a Financial F'up and you won't die penniless, regardless of what the Ebil Gubmint does.
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.
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 $$ than I EVER had during my working career.
How much money you have when you die DON'T MEAN SPIT.
How you lived the life you had is priceless and IT IS YOUR CHOICE.
There will always be someone else "who can buy and sell YOU" in the end.
My "beneficiaries" will get their inheritance from me while I'm alive to see them enjoy it.
Before I retired, I made it a point to be broke on Dec 31 of every year knowing I'd have a paycheck within a week or two to start the next year. Since retirement, I've "ratholed" money from sales and my part time work and have more $$ 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
So why worry about how much(or how little) money you have as long as you're not hungry or cold?
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
Can't take it with you.
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.