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originally posted by: Traveler101
I had plenty of people tell me i couldn't do it along the way, but i know myself and when make a plan i find away to make it happen.
originally posted by: JBurns
a reply to: toysforadults
Yes, it seems a good solution is abolishing the Fed (before our money became disgustingly devalued). Abolishing the 16th amendment would be another good step. And re-instituting a gold standard (one based on intrinsic value, not the "Good faith" of any government)
Most of all, lowering the remaining existing taxes (just not unapportioned taxes on income, something clearly barred by the Constitution)
originally posted by: toysforadults
a reply to: Traveler101
There is a lot of buying opporrunity in poorer areas to get real estate at nothing cost in cash and rent them out
originally posted by: Bone75
originally posted by: Traveler101
I had plenty of people tell me i couldn't do it along the way, but i know myself and when make a plan i find away to make it happen.
"Small minds will always tell you that your
ideas are too big."
originally posted by: Throes
Imagine if they could have kept their SS earnings and invested them. They’d have a bigger nest egg for retirement that they owned. Not some government income that does not equate to your own worth and does not give proper returns.
originally posted by: Dfairlite
a reply to: Xtrozero
The average person pays ~300k into social securtiy. It pays out an average of ~277k. That's a rate of return of -7% over the life time of the investment.
If one were able to keep that 300k and invested it conservatively, receiving only a 5% return (S&P500 averages 9.8%), they would end up with around a million dollars. If they happened to track with the S&P that would make it over 3 million dollars.
In that light social security tax has an opportunity cost of 2.86 million dollars. Is the peace of mind of social security really worth 2.86 million dollars to anyone?
IMO, we should have a system like Australia's where you either pay social security or you self fund your retirement. If you choose to self fund then you have to prove yearly that you are setting money aside.
originally posted by: toysforadults
a reply to: Traveler101
my buddy is getting his real estate license so we can get in on cash buys for anything in the 20k range and I am in construction so me and my brother will fix them up and rent them out, I won't need to get paid and I can work after work.
originally posted by: toysforadults
So I found this pretty funny article in the news recently and on one of my favorite Youtube channels. I tried not to laugh and feel bad but I couldn't help myself.
I find it funny because my age group (the really lazy loser socialist generation, the Millennial's) have been trying to point out how broken the market place is with inflation and stagnant wages only to be met with vitriol and condescension.
originally posted by: toysforadults
This may be part of the problem but the real problem is increased property taxes and inflation pricing people out of the market.
Cell phones. They have expensive cell phones that cost them to much money. Lose the cellphones guys, go back to landlines.
Useless college degrees or no degree. Most Boomer didn't have to go to college for higher paying jobs so they obviously don't want to work.
3. No longer physically capable of working a real hard trade job for good pay. That's right, you're lazy. Get off your rocking chair and throw that damn back brace on and get out in the trenches and work.
4. Incapable of managing their finances. They obviously spend more than they make because they go to movies and drink to much on the weekends. Wine and cigars are expensive people.
5. Living outside of their means. Yup. Get a tiny home and sell your home. Get rid of your internet and cable and start using your library card to read books and you will have better finances.
Enjoy a taste of your own medicine for once.
Eat the old? Tough, chewy, tasteless old people? As an old person my self I've learned that younger animals are tenderer and tastier. Maybe we baby-boomers should eat the young...sure would stretch my grocery budget.
originally posted by: tadaman
a reply to: seeker1963
Eat the old! Solve world hunger and overpopulation all at once. Everything tastes like chicken in the matrix anyways.
Seriously though, the system has been "crashing" for a while. Everyone not in the path of its collapse was content to shimmy to the side and keep on keeping.
Problem is, if the young are sounding the alarm about not being able to work or earn enough, and no one listens and nothing is done...then no one will be financing the retirement of the generation before them. So everyone fails together.