Quote:
Originally Posted by Blueblaze
Inflation has an enormous impact to those of us living off our savings and SS checks. But it does not have any impact on whether a working person, whose income is inflating along with the rest of the economy, can save that scary $1.5m number for retirement -- which, by the way, does NOT include their real estate and SS. I just showed you the math -- which included 3% for inflation -- proving that someone with an average $80K income can easily save over $2M in 45 years. The question is not, is it possible. The question is whether the average wage earner has enough common sense to do it. Given the fact that the average American has less than $1,000 in the bank, obviously, most don't.
My biggest fear is that the generation who refuses to show up at the office to work, and thinks the Gooberment ought to pay for their student loans, is going to look at my nestegg one day and say "gimme".
|
Living off savings is one thing living off income from savings another, SS is more like a government run ponzi scheme kept afloat with taxes at worst, a transfer of wealth at best, for the most part its that people do not plan ahead with any reasonable expectations, will all to often accept the best possible outcome as what they can expect, make excuses for their poor judgments , blame a failure of plan when in fact it was a failure to plan ,, Taxes ? of course the middle class will bear the brunt , that's where the money is, the most consumers , consumers always pay the taxes in the end , taxes are built in every item we use, economic demagoguery sounds good , your a victim so we will take from the people who took it from you, you deserve it , its your right,, in so doing kill the goose that has given you the golden egg