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At the age of 9 through 17, I was picking cotton and giving the money to my dad for school clothes.
Rich Americans live longer than poor Americans?
Since America has existed, that's since when.
One time I had accumulated $240 and my dad more or less "confiscated" it to use for a down payment on a house...
And I imagine I squawked a bit, but not for the money and it's use, but because I felt he should have just asked me and given me the benefit of the doubt, I probably would have put it in, money was pretty easy for me to come by.
Well, that's good your parents had you save, I heard a stat that 50% of the people 50 years and older would have trouble coming up with $2,500 in an emergency.
That is probably true.. about 50% of the people not having $2500 in a liquid account.
well. I heard a radio show in 1994, (I was saving for retirement).. I was building debt had 25,000 in consumer debt, 55,000 in mortgage debt. started following his plan, 18 months later I had no consumer debt, 26 months later I had no mortgage debt. my base salary in 1994 (wife and I combined was 42K, I took on 2 part time jobs, worked over time and delivered pizzas on Monday and Friday on top of the 2 Part time jobs, until paid we off all debt and built emergency fund).
Today I have 8 months of living expense in a savings account.
fully funded retirement account.
No mortgage debt, no consumer debt.
you take the average mortgage of
not having that debt allows me to put $2400 a month in savings, for purchases, retirement, emergencies, or to spend doing what I want, give to charity to help people
I have done the classes for this program free of charge for people to learn to manage their money, One couple I was able to give them enough down payment so they could get a home... only stipulation was (when you get your financial house in order, they would do it for someone else, a couple of years ago they helped a young couple get their first home with paying their down payment).
Last edited by TNVolunteer73; 11th April 2017 at 03:22 PM.
And the ACA made it worse.
It was always thus, and there is nothing the government can do about it. It is virtue signaling to claim otherwise.