Glory!!! After so much struggles I now own a new house with an influx of $155,000.00 every month God has kept to his words, my family is happy again everything is finally falling into place. God bless America.
I raised 75k and Christina Ann Tucker is to be thanked. I got my self my dream car 🚗 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through her. Christina A. Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!!
I always hear young people saying that Boomers like me had it so easy to save and buy a home. However, there is something that people always miss, and I have never heard anyone talk about it. If a person wants to save and buy homes that same as Boomers did then they will need to live the way Boomers did. Hear me out here. For most our Boomer lives we did not have a cell phone, cable TV, internet, or new car. The reality is that since most of those things, that seems mandatory today, were not expenses for the Boomer generation. iPhone $1200, Cell phone plan unlimited data $100/mo, Cable TV/Internet $180/mo, Car payment $400/mo. All this stuff adds up, and yes I know prices vary before you tell how you only pay $3 for internet or some such thing. So do that example math and you have $800 or $1000 per month right there once you toss a few $5 Starbucks, lunch time excursions, and door dash silliness in there. If you want to have money in old age like a Boomer then you will have to live the way Boomers lived. So here ya go: Land line (yes they still exist) $10/mo, Rabbit ears (yes they still exist) Free, Coffee at home 50 cents, lunch in a paper bag from home $150, Used car (paid cash). Obviously we lived that way not by choice but because most other options did not exist, or seemed silly to spend money on for the Boomer generation. It is still possible to live that way and have an extra $1000 or more a month but you will have to choose to do so, and you might not like it.
Gosh, perhaps that's why I have money to save/invest... I live the way boomers did... or rather the way I was raised by my mom. Now, I do have the $1500 cellphone ~ I saved and purchased outright. And I will be "eventually" changing vehicle ~ which I'm saving for to buy outright (and man it will be expensive and hurt to hand over that money). At times I wonder if I should spend more, you know live a little, but I don't need much. I'm glad to be able to able to invest/save hundreds of dollars a month.
be careful you don't hurt yourself patting yourself on the back. Your entire giant paragraph is just you writing who you have no idea what problem young people face today. By the way, I am not one of those young people.
class of 1985 here, I stopped saving for retirement last year (age 56) because 401k + IRA went past 7 figures and I retired. The IRS rule of 55 is my ticket to ride!
@@cutehumor it's interesting that I never heard about the Rule of 55 from any of the so-called financial advisors that I worked with while building that stack. One of them was convinced I was talking about 72(t), I had to educate him about the Rule of 55 which didn't foster faith in his ability as a FA.
I hope you also figured a way to have a MAGI of under $20K so you could hop onto state medicaid as you approach 65. Might as well play the game if you can play by their rules. .
@@markbajek2541 you don't want to do that because if you are on Medicaid, your estate will be subject to estate recovery after you die. Obamacare is where it is at for early retirees.
GenX is first generation without access to pensions from careers in the private sector. We got to watch American auto manufacturing corporations bankruptcy out of providing pensions to retirees.
I am 54. We stopped saving for retirement when I was 47 and left my job to go self employed. Never started back up. Plan on retiring when I am 60 and wife is 58 and we should have $1.4 mil. and no debt. Thank goodness we started saving early. We never made over $110k a year combined.
Similar story for millennials. “A recent Goldman Sachs’ Retirement Survey & Insights Report (2023) found that 34% of Millennial respondents report feeling like they’re behind on their retirement savings.”
Mr Scandlen. I understand the revolt portion of eliminating social security. But it may be easier in the future considering what they are doing now. It plausible the weaker we people are getting. My question is hypothetical. What if it were to happen? If you had to imagine it. What Would be the catalyst? How etc etc? This argument does come up often. Around me. Thanks again! And yes debt 💨’s lol
If social security were to be eliminated, then lots of people would be destitute. I don't see the government removing programs that give aid, like foodstamps, housing assistance utility payment assistance, so taxes would increase substantially. Oh and for some reason I don't see the government completely removing the social security and Medicare tax either. I don't think it's feasible to remove social security programs unless a different program is implemented.
Maybe you should instead of promoting the .001 owning 99.99 percent of the wealth even more you could advocate for a little equity. Taylor Swift is donating 5 million what does Trump donate ? Paper towels.
The only thing people should save are tangible items, i.e. food, bullets, tools, precious metals. All other "investments" will be gone in our lifetimes, either through financial crashes or govt. seizure.
We Live like Adam & Eve so it's cheap. Our Income: $1550 SS+ 1k a mo. net earnings. Married 37 yrs, age 58 & 65. Produce Solar power & 1/2 our food. Free homeowners & water.#1 mode of travel is cycling. Own a newer e-car & off grid cabin w. 4 acres. Health: IHS Clinic+Part A= free. 15 min to our church, community ctr. cafe, gas, health food store, med offices, library, Post office & Fire Dept. Bus runs 1x a wk to the next town of 17k where we Mtn Bike. My handy husband fixes anything. 25k in the S&P, 50k cash & still adding to it.
