[Stu from NYC]

Originally Posted by rsmurano

People don’t understand inflation. Sure it effects debtors because of higher rates, but it effects everybody by higher prices for everything. What cost $1 yesterday, will be $1.50 or more in a short period of time.
As for working hard, this is only partially correct. I know people who worked hard, made decent money, and had no income saved for retirement. You have to invest part of your money starting at a young age so it has a chance to grow before retiring. Working hard and playing/spending harder won’t work. This is what the millennials are doing today, they have no outlook for the future, thinking the government is going to bail them out

It is sad that schools do not teach personal finance. Too many young people do not have any understanding of basic Economics.