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Jan 23rd, 2013
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Re: Poverty line [Re: Douglas J] #14397119 06/18/22 01:12 AM
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Sir, maybe people don't want to hear you be a richard all the time.

Re: Poverty line [Re: Douglas J] #14397120 06/18/22 01:15 AM
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$100k for a family of four to allow you to live a decent life providing you manage it extremely well. It won’t let you do a lot but you can do enough to enjoy life.

However the amount you need is increasing daily.

Generally what I have seen thru life is the less money people have the worse they will manage it.

Last edited by Fishspanker; 06/18/22 01:20 AM.

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Re: Poverty line [Re: Douglas J] #14397161 06/18/22 02:12 AM
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This thread is brutal.


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Re: Poverty line [Re: Tneel] #14397219 06/18/22 03:29 AM
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Originally Posted by Tneel
Give it a couple of years and it will be 100k a year for a family of four.

Feels like it's $100k for a family of three right now. My brother lives out WAWI's way and is in the oil business, I was talking to him today and he said that his wife is gonna have to get a job because they can't make it on his salary right now. Granted they don't do without but as WAWI said $100k ain't @#$T anymore.

Re: Poverty line [Re: Douglas J] #14397223 06/18/22 03:47 AM
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The first 5 days after the Weekend are the Hardest.
Re: Poverty line [Re: Douglas J] #14397226 06/18/22 03:50 AM
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And if you have 2 incomes and make more than about 175K a year, they will tax you to death. You ain't gonna win unless you are connected.


Non Sibi Sed Patriae -- "Not for self, but for country."

Re: Poverty line [Re: Spiderman] #14397232 06/18/22 04:29 AM
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This is the result that those like Allison on here and Biden want. To punish the middle class



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Re: Poverty line [Re: Stump jumper] #14397249 06/18/22 10:38 AM
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Originally Posted by Stump jumper
Originally Posted by Douglas J
Originally Posted by 2014NITROZ-7
Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.




If you put all your eggs in social security to support you 100% in retirement, you kind of deserve whatever you get.

Times have changed. More people will be relying on SS for a larger part of their retirement. Gone are the days of nice corporate pensions for almost everybody. My dad worked in sales for a large aluminum company. When he retired his pension was 80% of his last 5 years salary, he kept his life insurance, he kept his health insurance with a $1m cap, and he had long term care insurance. He also collected the maximum amount of SS for his age. He told me one time to hope he lived a long time because of the money he was saving every month. There are very few that have those kind of benefits these days. I have no debt and spend less then my monthly SS payment. I am only able to do that because I receive the max for my age at retirement.
Being debt free at retirement is something everybody should strive to do.

Re: Poverty line [Re: Douglas J] #14397258 06/18/22 11:18 AM
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There is something to be said for putting up with the corporate BS for over 40 years. At times isn’t a grind and frustrating because you have to do the nonsense stuff and everything has to be done by a “team” even when a single person can make a better decision in 1/10th the time. At least have a pretty decent pension and good 401K. Few places you can hide from the tax man. 401K is one place.

They tax the heck out of you. I worked a lot of years before I made as much as I now pay in taxes. No telling how much you will need to live 10 years from now. Inflation is out of control. Regardless of what they tell you the voters are not smart. If they were we wouldn’t be in the situation we are today. Too many useful idiots.

Last edited by Fishspanker; 06/18/22 11:19 AM.

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Re: Poverty line [Re: Douglas J] #14397289 06/18/22 12:33 PM
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Originally Posted by Douglas J
Originally Posted by Wool E. Booger
Originally Posted by Douglas J
Originally Posted by 2014NITROZ-7
Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.




If you put all your eggs in social security to support you 100% in retirement, you kind of deserve whatever you get.



That is sort of a “let them eat cake” attitude isn’t it. Not everyone may be as fortunate as you.



I am not at all "fortunate" and actually will draw no SS.

Have you actually paid into SS?

Re: Poverty line [Re: gander] #14397334 06/18/22 01:32 PM
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Originally Posted by gander
Originally Posted by Stump jumper
Originally Posted by Douglas J
Originally Posted by 2014NITROZ-7
Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.




If you put all your eggs in social security to support you 100% in retirement, you kind of deserve whatever you get.

Times have changed. More people will be relying on SS for a larger part of their retirement. Gone are the days of nice corporate pensions for almost everybody. My dad worked in sales for a large aluminum company. When he retired his pension was 80% of his last 5 years salary, he kept his life insurance, he kept his health insurance with a $1m cap, and he had long term care insurance. He also collected the maximum amount of SS for his age. He told me one time to hope he lived a long time because of the money he was saving every month. There are very few that have those kind of benefits these days. I have no debt and spend less then my monthly SS payment. I am only able to do that because I receive the max for my age at retirement.
Being debt free at retirement is something everybody should strive to do.

I’m living debt free(mostly). I only have a little left on a mortgage. Everything is paid for other than the house. My wife and I fall just around the $190k a year spot. BUT!!! Both kids are college age and we are paying for both of them to be full time students and neither work. So yeh…even without boat payments, car payments, credit cards, and other debts, it’s getting tough. We don’t struggle, but damn I’d like the kids to get along a little faster and start careers.


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Re: Poverty line [Re: gander] #14397365 06/18/22 02:14 PM
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[/quote]Being debt free at retirement is something everybody should strive to do.
[/quote]

And save until it hurts is what my dad told me when I was young. Whish I had listened and started earlier with that advice.

Re: Poverty line [Re: Douglas J] #14397590 06/18/22 07:26 PM
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Originally Posted by Oldrabbit
Originally Posted by Douglas J
Originally Posted by Wool E. Booger
[quote=Douglas J][quote=2014NITROZ-7]Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.
That is sort of a “let them eat cake” attitude isn’t it. Not everyone may be as fortunate as you.



I am not at all "fortunate" and actually will draw no SS.

Have you actually paid into SS?


Very little from side gigs and when I was younger.

I was fortunately exempt from SS and I used that 8.5% of my income to invest over a 30 + year career to add to my retirement income. So now I reap the benefits from not giving 8.5% of my income to the government to hold and tell me I can only have what they think I deserve back at age 65. I got to start drawing my income from my money in my early 50's.



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Re: Poverty line [Re: Douglas J] #14397626 06/18/22 08:34 PM
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Originally Posted by Douglas J
Originally Posted by Oldrabbit
Originally Posted by Douglas J
Originally Posted by Wool E. Booger
[quote=Douglas J][quote=2014NITROZ-7]Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.
That is sort of a “let them eat cake” attitude isn’t it. Not everyone may be as fortunate as you.



I am not at all "fortunate" and actually will draw no SS.

Have you actually paid into SS?


Very little from side gigs and when I was younger.

I was fortunately exempt from SS and I used that 8.5% of my income to invest over a 30 + year career to add to my retirement income. So now I reap the benefits from not giving 8.5% of my income to the government to hold and tell me I can only have what they think I deserve back at age 65. I got to start drawing my income from my money in my early 50's.


Teacher?

Re: Poverty line [Re: Douglas J] #14397759 06/18/22 11:34 PM
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Originally Posted by Wool E. Booger
Originally Posted by Douglas J
Originally Posted by Oldrabbit
[quote=Douglas J][quote=Wool E. Booger][quote=Douglas J][quote=2014NITROZ-7]Wanna bet congress will say there is no cost of living increase so no raise in social security this time around.
That is sort of a “let them eat cake” attitude isn’t it. Not everyone may be as fortunate as you.
Have you actually paid into SS?


Very little from side gigs and when I was younger.

I was fortunately exempt from SS and I used that 8.5% of my income to invest over a 30 + year career to add to my retirement income. So now I reap the benefits from not giving 8.5% of my income to the government to hold and tell me I can only have what they think I deserve back at age 65. I got to start drawing my income from my money in my early 50's.


Teacher?



No sir, teachers are part of TMRS and pay SS.

I did pay into medicare so I will be eligible for that at 65.



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