Quote:
Originally Posted by Two Bills
I would imagine many young families, struggling their way up the ladder of life, will be more than happy to see a rate reduction.
The oldies, still fighting to be the richest people in the cemetery, not so happy.  |
This remark reminds me of teenagers and the younger generation grousing at retirees for being "rich". Never mind the fact that many of us worked so hard and long for our money and hope to have enough to get us out the door. If anyone requires assisted living toward the end of their days, they can expect expenses from $6,000. to $10,000. a month.
When raising our young family and both of us working with excellent credit ratings, we encountered interest rates in the late 1970's and early 80's at 17%. We didn't start blaming our retired parents because they were living off their savings. We appreciated the fact that they knew, as we did, how to cut corners, live smaller and work.
I just love people who sarcastically indicate every retiree planning on making their funds work as being rich. Perhaps it's because they are sitting on a pot of gold but it's not becoming.
