Do you make money savings?

Do you make money savings?

Postby xdangerousxdavex » Wed Apr 22, 2015 10:43 am

http://www.businessinsider.com/half-of-america-doesnt-save-any-money-2015-3

Nearly half of the US households don’t want to save money for tomorrow or have too low income to make savings. I don’t believe it can be true. Your savings secure your future. Do you save some part of your income? Even if one saves ten percent of weekly earnings for the nearest future, it’s saving too.
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Re: Do you make money savings?

Postby exploited » Wed Apr 22, 2015 10:55 am

I've put aside about 30% of my income for the past five years, with the goal of building a retirement portfolio and emergency savings account. The mental stress this has alleviated is truly astounding... I can now finance my lifestyle for almost two years without working. This knowledge has allowed me to take risks that I wouldn't take absent savings, and has ended up earning me more money.
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Re: Do you make money savings?

Postby Winchester » Wed Apr 22, 2015 11:37 am

I've observed over the years while one's overall income does have an impact on one's ability to save it's not nearly as big of a factor of living below one's means and having a long-term view of things. It's a long slow process to build up a meaningful nest egg. Lot's of people do not have the knowledge or discipline to live below their means which means no savings for them. I really think a lot of it comes down to innate personality traits because my sisters were raised in the same household I was but they're both spendthrifts and I'm way on the other end of the spectrum.

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Re: Do you make money savings?

Postby spacemonkey » Wed Apr 22, 2015 11:48 am

To many live pay check to pay check, nothing left to save. For most that won't change.
The hardest part of doing nothing is knowing when your done.
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Re: Do you make money savings?

Postby Saz » Wed Apr 22, 2015 12:23 pm

I save nothing beyond max 401k. Maybe I could afford to save if I wasn't paying 5k a month to student loans. Thanks SHITBOOMERS!
Pun intended for the plebes on here who don't get a joke
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Re: Do you make money savings?

Postby Professor » Wed Apr 22, 2015 1:01 pm

Saz wrote:I save nothing beyond max 401k. Maybe I could afford to save if I wasn't paying 5k a month to student loans. Thanks SHITBOOMERS!


Those damn Boomers. I hate how they forced you to sign those student loan papers. I feel for you, man.
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Re: Do you make money savings?

Postby Saz » Wed Apr 22, 2015 1:10 pm

Professor wrote:
Saz wrote:I save nothing beyond max 401k. Maybe I could afford to save if I wasn't paying 5k a month to student loans. Thanks SHITBOOMERS!


Those damn Boomers. I hate how they forced you to sign those student loan papers. I feel for you, man.


Shitboomers can deduct mortgage interest and retirement contributions come from pretax dollars? Young people? f**k YOU, pay 8% interest on non dischargeable debt so the government can enrich itself, and make sure you pay that debt from POST TAX dollars.

Meanwhile, shitboomers have saved on average like 20k for retirement (lol) and will no doubt come begging for more money from the government. I await with bated breath you telling all these shitboomers with no retirement savings to f**k off and die because they could have saved their entire working life and chose not too.
Pun intended for the plebes on here who don't get a joke
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Re: Do you make money savings?

Postby Winchester » Wed Apr 22, 2015 1:20 pm

Saz wrote:
Professor wrote:
Saz wrote:I save nothing beyond max 401k. Maybe I could afford to save if I wasn't paying 5k a month to student loans. Thanks SHITBOOMERS!


Those damn Boomers. I hate how they forced you to sign those student loan papers. I feel for you, man.


Shitboomers can deduct mortgage interest and retirement contributions come from pretax dollars? Young people? f**k YOU, pay 8% interest on non dischargeable debt so the government can enrich itself, and make sure you pay that debt from POST TAX dollars.

Meanwhile, shitboomers have saved on average like 20k for retirement (lol) and will no doubt come begging for more money from the government. I await with bated breath you telling all these shitboomers with no retirement savings to f**k off and die because they could have saved their entire working life and chose not too.


$5,000/month on student loans... really? How much is your student loan debt? You went to a private law school did you not? How did the boomers manage to f**k you over with that, not paying for it for you? The average student loan debt is $28,000. One can deduct up to $2,500 of student loan interest if one's income isn't too high without even having to itemize. Sounds like most in your generation get to deduct all their student loan interest. And oh, people of your generation can deduct mortgage interest as well and yeah some of them can buy houses.
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Re: Do you make money savings?

Postby Saz » Wed Apr 22, 2015 1:29 pm

Winchester wrote:
Saz wrote:
Professor wrote:
Saz wrote:I save nothing beyond max 401k. Maybe I could afford to save if I wasn't paying 5k a month to student loans. Thanks SHITBOOMERS!


Those damn Boomers. I hate how they forced you to sign those student loan papers. I feel for you, man.


Shitboomers can deduct mortgage interest and retirement contributions come from pretax dollars? Young people? f**k YOU, pay 8% interest on non dischargeable debt so the government can enrich itself, and make sure you pay that debt from POST TAX dollars.

Meanwhile, shitboomers have saved on average like 20k for retirement (lol) and will no doubt come begging for more money from the government. I await with bated breath you telling all these shitboomers with no retirement savings to f**k off and die because they could have saved their entire working life and chose not too.


$5,000/month on student loans... really? How much is your student loan debt? You went to a private law school did you not? How did the boomers manage to f**k you over with that, not paying for it for you? The average student loan debt is $28,000. One can deduct up to $2,500 of student loan interest if one's income isn't too high without even having to itemize. Sounds like most in your generation get to deduct all their student loan interest. And oh, people of your generation can deduct mortgage interest as well and yeah some of them can buy houses.


1. Yes really, 5k a month to student loans after paying 8k in taxes. You're welcome.
2. 200,000+
3. Irrelevant. All law schools are now 200k+. 80% won't get you a job.
4. Yes. Education is a public service. I shouldn't pay for my education, society should pay for me, because as I pointed out in #1. Education allows me to pay much more in taxes. You f**k are nailing us twice, reaping the benefits of my hard work and education through higher taxes, while ALSO sticking me with what amounts to a second income tax. This is what I mean by not investing in your population. Education is a basic right, and one that society should subsidize because society reaps the benefits of an individual getting more education.
5. Most of my generation is unemployed making ~28k and has a low to zero tax burden anyway. The 2,500 that can be deducted benefits almost no one.
6. Yea, we can deduct mortgage interest, but we pay out of the ass for education. YOUR generation got both, and then f**k us and stuck us with non-disgargeable debt at 2x the market rate which has crippled my generation.
Pun intended for the plebes on here who don't get a joke
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Re: Do you make money savings?

Postby Winchester » Wed Apr 22, 2015 2:09 pm

1. Well at that rate sounds like your student loans will be paid off in short order, little less than 4 years at 8%.

2. Not Irrelevant, it's a private institution free to set it's own policies, tuition etc., just as you were free to choose them. If 80% of law schools won't get you a job, sounds like too many lawyers and law schools.

3. Ah, the hand out mentality, must have learned that from your boomer parents. Sure it's better for society as a whole to have an educated populace, it's also way better for the educated. People don't educate themselves for altruism.

4. Most of your generation isn't unemployed. Higher rates of underemployed and unemployment I'll buy but not most.

5. My generation got little more than your generation, quit your whining. Average debt around my time was $12,000, adjusted for inflation it's not that far off the averages now. Yeah a little lower in real terms, but not much. No student loan interest deduction for us either. Ours was non-dischargeable, this is nothing knew.
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