wrote:
On Wed, 13 Aug 2014 22:53:34 -0400, Wayne.B
wrote:
On Wed, 13 Aug 2014 15:03:13 -0400, wrote:
On Wed, 13 Aug 2014 12:37:54 -0400, "Mr. Luddite"
wrote:
On 8/13/2014 9:50 AM, F.O.A.D. wrote:
There are two ways to respond to your assessment. The first is to cast
the blame on those who have been successful and demand a cut of the
fruits of their labor.
The second is to qualify oneself via training and education for the jobs
that exist in a highly competitive world ... that is only becoming
*more* competitive.
For most, the second route was drilled into us as youngsters. Unlike
today, we were never taught to "expect" it due to some societal right.
The required education may be acquired in many ways. It doesn't
necessarily require daddy's fat checkbook.
I'd also add that it often takes many years of work to rise to the
"middle class" financial category. Some people seem to think it's a
"right" and should start as soon as you become an adult. I didn't
achieve a "middle class" lifestyle until well into my 30's.
If you believe the assessment made by millionaire media and author
types, I never have.
There is a story floating around the talk shows now that you need
$150,000 for the basic necessities of life ... what bull****!
===
It depends on your life style and expectations. $150K sounds a bit
short to me but we probably live better than many.
We never made over $100k combined until recently and I don't think we
were living badly. We had "paid for" cars, boats and this house. Our
daughter came out of college without debt and we actually never owed
money for anything but the condo in Treasure Island. I paid it off
early and we had that free and clear too.
I am also not sure I know anyone who makes much more than $100k, most
make less, some a lot less.
This is SW Florida tho. I know it costs more to live in other places.
I made more than a 100k and the wife only worked part time for a friend.
And that was 12 years ago when I retired. I make at least that now with SS
a couple small pensions and investment income. Not touching the ira's
until this year. The 70 1/2 rule. For both wife and I. But we paid cash
for just about every thing we bought, except the house. First car we
financed in years was the wife's Venza. Was less than the return on
investments. But we also keep cars 10+ years! and do not need the $500 a
day hotel. In the 1980's we were having layoffs at a company. One
engineer who reported to me was worried about finances. I said worry about
the assembly line ladies who made $20k a year. He made $65k and drove a
POS dodge van, and commented his wife had 4 credit cards maxed out. What
did he waste money on? Sounds like he was following government spending
guidelines. I do live in a higher cost of living area, but did not take
money out of the house for toys when refinancing, and paid the house off.
I see the same thing with a lot of the people around me. I have an
acquaintance who's husband is the $500k a year VP of a high tech company.
Lake house, $80k African safari this year for the family. $2mm house. One
payment from bankruptcy basically. If there was a glitch in the company
and he was laid off, how long could he go on severance and savings?