Forum Discussion
- Yes A very interesting article. A great lesson showing that even the best laid plans can be upset by unplanned events.
- Hmmm.
- No comments till you've read the book.
This is an article by a reporter that may have put his slant on the book. - I have no doubt many people like this exists,they can only blame themselves for being poor..
I worked all my life,many jobs too,saved like crazy,invested in real property and got financialy independent before retirement..
When unemployed I never looked for salvation in booze or drugs,,dont smoke either..thats the way to success..its that simple.. - I know people who are on very limited funds in their later years. Not all are in those situations through bad decisions. And not everyone is capable of understanding investments, including buying properties. And some never make enough to get to a point where they have anything available to invest.
I am sure there are some folks who are struggling to survive. But I think there are just as many, if not more, who are doing exactly what they want.
I also think it's natural to voice your "difficulties" as if they are a problem with the system - when, if you look at them objectively you'll find that they are the same problems most people have or will face. - ^ so yeah, there are folks who got dealt a bad hand and there are folks are are not physically smart enough to hold more than the most menial job without benefits. This has always been and will always be. It's called society.
But I've learned, through mostly the example set by my blue collar, lower income, honest hard working parents, that most people's financial issues arise out of irresponsibility, bad work ethic or living above their means.
As I sit here, I can thank my parents for this training and being a good example, so that I can be much more financially successful than they were. (Also helps that I am a motivated person and educated)
While there, again, are many who have a good reason for being in the situation they are, there are more that who spent more than they earned and somehow thought it would magically work itself out.
I learned that from living in AZ from 2003-2005. Moved there in the midst of the housing boom. We bought a new house that was gaining value about 10 grand a month.
Was nice knowing that there was equity building in it, but it didn't change how we lived.
Before long, most of the people we knew were taking equity loans to do everything from buying new vehicles and toys to remodeling brand new homes because now they could "afford " the granite counters and 50grand backyard pools.
Well, market turned. We did the obvious thing. Sold the house, cashed out a couple hundred thousand and moved. All the dipchits that got 200k in equity loans for junk, lost their @ss. I'd say it was 10:1 stupid moves vs fiscally responsible ones. - Yes, some of those folks got themselves in a bad situation. But my point is that you can't paint a broad brush over them and say they only have themselves to blame for being poor.
What works for one person doesn't always work for another. Grit dog wrote:
While there, again, are many who have a good reason for being in the situation they are, there are more that who spent more than they earned and somehow thought it would magically work itself out.
How do you know this?toedtoes wrote:
Yes, some of those folks got themselves in a bad situation. But my point is that you can't paint a broad brush over them and say they only have themselves to blame for being poor.
What works for one person doesn't always work for another.
While there are those who just got dealt a raw deal, my experience is they are a rarity. The vast majority wind up where they are thru choices of their own.
This isn't an issue of intelligence as most of this comes down to 4th grade math and even if you never make a 6 figure salary, you can still save up and do quite well for retirement.
Then again, if anyone is painting with a broad brush, it's the author of this article, implying everyone who lives in an RV is doing so because they are in "desperation". My experience is most do so out of choice.valhalla360 wrote:
toedtoes wrote:
Yes, some of those folks got themselves in a bad situation. But my point is that you can't paint a broad brush over them and say they only have themselves to blame for being poor.
What works for one person doesn't always work for another.
While there are those who just got dealt a raw deal, my experience is they are a rarity. The vast majority wind up where they are thru choices of their own.
This isn't an issue of intelligence as most of this comes down to 4th grade math and even if you never make a 6 figure salary, you can still save up and do quite well for retirement.
Then again, if anyone is painting with a broad brush, it's the author of this article, implying everyone who lives in an RV is doing so because they are in "desperation". My experience is most do so out of choice.
I agree with the last wholeheartedly.
