jlf1961 -> RE: Survey Data Shows 80 Percent Of U.S. Adults Facing Joblessness (7/29/2013 11:32:17 AM)
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ORIGINAL: Lucylastic and how many are just above the poverty line, how secure are their lives, financially? how many people have any kind of security, how many people owe more than they can ever pay back. he number is clearly getting lower. theres a reason they call the rich the 1% How many people have less than 3 months wages/benefits/ in the bank or cash to survive on? Ive been below the poverty line many times in the past 40 years, Ive been homeless 3 times, for most of my life Ive had no savings, many times, Ive had zero in my purse, in my bank account, and rationed food because theres too much month at the end of the money. I doubt im only 15 % o f the population. What does the qualifier "at some point of their lives" mean to you? It does not mean that at this point 80% of the people in the survey or Americans are presently at or below the poverty line, does it? If that is the case, then everyone from the Government and all the non government social welfare agencies have the wrong information. At some point in their lives means just that, it does not mean that they are at that point all the time, or anything of the sort. The headline is bullshit, since it implies that 80% of Americans are living below the poverty line. Hell, I have an income that puts me below the poverty line, however I still pay my bills, including a $760 mortgage payment and a $290 dollar car payment, manage to put food on my table, and still manage to put money into savings. I get assistant with my Medicare premium, my part D premium, prescriptions and a whopping $20 a month in food stamps. My younger sister and her husband have an income of 6 figures each year, are buying a million dollar home with another 20 years on the mortgage, buy a new car every three years for each of them, they own numerous "toys" they are making payments on, and are screaming about not having money to go on vacation or do anything fun, and he has a freaking MBA! The difference between my sister and I is simple. Younger sis was Father's favorite, she wanted an organ, he got her a $6000 dollar theater organ for her to play in the house. What she wanted she got, pure and simple. I on the other hand, had to work and save for anything I wanted. When he got tired of playing the "gentleman rancher" and devoted all his time to driving trucks, beer, being abusive and cheating on my mom, he turned all the cattle over to me, after I gave him everything that had been deposited in the Air Force credit union savings account that had been started when I was born, aka my college fund. I learned early to save money, in lean times, 10% went into savings, in good times as much as 45% went to savings. The only credit cards I ever had was when I owned my own semi. Used them to pay for fuel and truck expenses only, paid the bill in full every month. Personal expenses came out of load advances. I went to college under the new GI bill, paid for grad school myself, partially with a student loan, the rest with grants and scholarships and working when I wasn't in class or studying. Today we are living in the "instant gratification" age. Basically too many people have the philosophy of "I want what I want and I want it now." Though I taught my kids to treat money the same way I did, both of them spend money like it grows on trees. My son blew through 30 grand he got when he turned 21, in less than a week. I had put the money back for him to go to college or age 21. My daughter did it in less than 3 days. I am not joking. First thing was a new car, then the car needed a stereo system, then it was TV's game systems, home entertainment systems, clothes, and I have no clue what else. From what I have seen of the younger generation, and many of my generation, financial security means spend money like there is no tomorrow. I will grant you that while I was fighting the Social Security Administration, I went through my life savings, both living and medical expenses, I even had to cash out my retirement to cover things until I was approved. Have I splurged on things since I got on a fixed income, if you think that saving for something is splurging then yes. Even with the splurges I have done in the last year or so, my savings has never fallen below 10k, and as I said, my income has me below the poverty line. Of course I do not have a brand new car with a top line stereo, new home entertainment systems, or a brand new computer, sorta, new mother board, cpu, memory and video card, and a new 3tb harddrive I got for my birthday, but everything else is at least 3 years old. My car is a 2005, and it was bought recently. I have friends my age, with a higher income that is above the poverty line with much less, although it is all brand new and the latest tech. So why am I able to live comfortably and others cant, I dont know. In my opinion, financial security comes hand in hand with financial responsibility.
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