[Aces4]

Originally Posted by OrangeBlossomBaby

Mostly useless advice now that "entry level" (not minimum) wages haven't kept up with the rate of inflation. When I went to college back in the early 1980's, I had a studio apartment on Charles Street, the foot of Beacon Hill in Boston. I paid $375/month including heat and hot water. I didn't have cable TV and in fact, had an old black and white that I picked up off the side of the road that a college student had thrown away the year before. I was earning $4.00/hour at two part-time jobs, and averaging $10/hour playing guitar in the subway system as a busker.

I was also a full time student. I managed to save some money and blew it all on stupid college-student crap.

That same apartment was available for rent in the past couple of years. It was well over $2000/month. Minimum wage hasn't gone up proportionately, but it's still considered appropriate for students. Except now you have to be in a very wealthy family to afford that apartment as a student. It has an updated bathroom now but is mostly the same as it was. The basement apartment is now for rent - it's 120 Charles Street unit 2 if you want to look it up. I had unit 1 on the main floor, which was similar but a bit smaller, with no access to the "courtyard" (which was really just a walled-in concrete slab big enough for a lounge chair and a potted plant).

People who can save up, are people who are earning more than they need to live already, or people who come from families who can afford to help them with expenses until they're able to save up. People who think everyone can "just" do that - are thinking in terms of how it used to be - and not how it is now.

I came from a large farming family. Talk about hard work and tight funds… The thing that caused those rates to soar are two children families with helicopter parents. Money is no issue now and many students have cleaning services. People really don’t know what hard work and doing without is like now. Even the truly poor have “the system” to save their butts.

[manaboutown]

Originally Posted by OrangeBlossomBaby

Mostly useless advice now that "entry level" (not minimum) wages haven't kept up with the rate of inflation. When I went to college back in the early 1980's, I had a studio apartment on Charles Street, the foot of Beacon Hill in Boston. I paid $375/month including heat and hot water. I didn't have cable TV and in fact, had an old black and white that I picked up off the side of the road that a college student had thrown away the year before. I was earning $4.00/hour at two part-time jobs, and averaging $10/hour playing guitar in the subway system as a busker.

I was also a full time student. I managed to save some money and blew it all on stupid college-student crap.

That same apartment was available for rent in the past couple of years. It was well over $2000/month. Minimum wage hasn't gone up proportionately, but it's still considered appropriate for students. Except now you have to be in a very wealthy family to afford that apartment as a student. It has an updated bathroom now but is mostly the same as it was. The basement apartment is now for rent - it's 120 Charles Street unit 2 if you want to look it up. I had unit 1 on the main floor, which was similar but a bit smaller, with no access to the "courtyard" (which was really just a walled-in concrete slab big enough for a lounge chair and a potted plant).

People who can save up, are people who are earning more than they need to live already, or people who come from families who can afford to help them with expenses until they're able to save up. People who think everyone can "just" do that - are thinking in terms of how it used to be - and not how it is now.

You earned far more than I did bagging groceries at a local market at age 14 for 25 cents an hour in 1956. Where I lived gasoline was about 30 cents a gallon then.

Actually today there is far more opportunity for those who work hard and smart and take on entrepreneurial risk. Young billionaires: https://www.youtube.com/watch?v=hzRsgv1ju6o

[Stu from NYC]

Originally Posted by manaboutown

You earned far more than I did bagging groceries at a local market at age 14 for 25 cents an hour in 1956. Where I lived gasoline was about 30 cents a gallon then.

Actually today there is far more opportunity for those who work hard and smart and take on entrepreneurial risk. Young billionaires: https://www.youtube.com/watch?v=hzRsgv1ju6o

Spot on about hard work and looking for opportunities. They are out there for sure

[MX rider]

Originally Posted by charlieo1126@gmail.com

and what if you had been hurt on the job in your 30’S or 40’s and could not work anymore or God forbid you died, the SSI would come in handy or the SS for your family if deceased. There are many on here that think everyone on SSI or Medicaid are faking or lazy , that couldn’t be farther from the truth , it a lifeline that with some bad luck could have landed all of us on one of these programs

Well said. Although there are too many bogus SSI claims. It does provide a safety net for those actually needing it. I know a few people in that boat. But living in a small town in Indiana (not snowbirds yet) I see the other side too. Some are no more disabled than I am.

[Paper1]

Originally Posted by tophcfa

And on October 14th the actuaries can announce how much sooner the SS trust will become insolvent.

With all due respect there is no "Trust Fund" that is just a cruel hoax our elected leaders parrot to make retires comfortable. This large, very popular increase will be funded with our grandchildren's credit card as was the 2017 tax cut, Middle East Wars, Covid spending, inflation reduction bill, etc.