[quote=earlyretirement]
I’m not so sure however that all the Boomers are in as good of a situation as you and your friends.[/quote]
I agree with this. There are a lot of boomers with mortgages, not a lot of retirement savings, and who cosigned for their kids college loans. Retirement is not so sure for them.
[quote=paramount]Most of you have been brainwashed by Wall Street and Madison Avenue propaganda.
1st of all, most people shouldn’t retire – stay active and work.
2nd, savings is paying 0% anyway (or close to zero).
Live while you’re young, screw saving money – most of it is harvested by wall street crooks anyway.
And then when wall street gives you what little is left, the Jerry Brown’s will take the rest for his cronies (govt workers, baby mommas, etc…).[/quote]
There are ways to “save” without it being interest free savings account. Diversification across asset classes is used to help mitigate the risks. So equities, bonds, real estate, gold & precious metals, pig futures… whatever fits your comfort level and risk level. The key is to divert some of your earnings to your future needs. This requires spending less than you bring in… living below your means. Planning for the future.
With modern medicine, etc the key is to have enough assets to cover your expenses after you can no longer work. Saying you’ll work till you die sounds great – but in reality – do you really expect to be still drawing a salary after you reach the state of early dementia, limited mobility, etc… At some point you have to have assets to support yourself.
I agree with living while you’re young. But pay your bills and save first – it’s the responsible thing to do. Live within or below your means. No one is *entitled* to live larger than their means.
I like to travel… so I bring brown bag lunches to work and drive older, paid for cars. That’s my personal choice for trade off. If I were a car person – I’d have a smaller travel budget or make cuts elsewhere. It’s all about finding balance within your budget to fit your needs and wants… but also recognizing that most budgets require some tradeoffs. (unless you’re Bill Gates’ or Warren Buffet’s kid.)
