Seems like some posters can't back up their post, so they close it.

Wealth has no intrinsic value?

I recommend that you look up the definition of wealth before you go down that rabbit hole.

 

I said that they get 26,000 tax free a year for a man and wife and get all thier healthcare expenses met. And I said that I was able to save almost 300,000 in my 401k from 1985 till now putting 4% with 3% matching until my house was paid off and then I went up to 10% yearly contribution. And this was just me working with my wife a stay at home mother. Now for the first 5 years of my mortgage, I also worked 16 hours a week part time and put all that towards buying down the principal. I paid for my house in 12/13 years. I did not go to the movies and I brownbagged my lunch 4 days a week. I drove a 12 year old dodge shadow 28,000 miles a year and my wife's car was a 10+ year old lumina for 1/2 that time. I never brought a new car till I was 54 years old, until then the newest car I ever owned was 4 years old when I brought it. I didn't even have a real cell phone till 2 years ago. Before that I had a trac phone just incase my car broke down!

I am a progressive but I am a capitalist. I think the government ought to provide for and screw everyone to the same depth!

 

Your personal financial situation does NOT address this question.

What percentage retiring Boomers have enough saved up for retirement in their 401k's?

 

I am in favor of tariffs- no issue there, specially in cases where there is a trade imbalance of more than 10-15%.

 

How the hell would I know that? How many saved and why did they not. I did not get my degree until I was 37 years old. I worked in a dye house in a textile mill making **** wages while I went to school at night and had a family to support. I never made good money until I was almost 50 years old. I put two kids thru college both with advanced graduate degrees in science disciplines. The youngest still owes 45,000 in student loans but that is what he brings home in one year.

It is not society's responsibility to bail people out for making bad decisions with their money. I had customer service reps that reported to me making $16-18 and hour and driving new cars, while my car was 12 years old with 200,000 miles. They had nice cell phones and had their nails done. Am I supposed to be concerned about their ability to live on only 26,000 a year when they retire? There are people thru only some fault or even minimal fault of their own have a tuff time making it in this country. I feel bad for them and want the government to provide food stamps so kids don't go hungry, let them live in a house free from vermin, have their kids attend a school that at least puts them in the same ball park as my kids. I want the country to provide a safety net not a brass ring.

 

While what you did is admirable the MAJORITY of people lack your abilities.

As a nation we teach people to SPEND rather than SAVE. We PROMOTE spending as a good thing and treat savings as a means for the Wall Street Casino to make money off of us.

The answer to the question is that a mere 20% of Boomers have enough in savings to retire comfortably. You are one of that small segment.

Another 20% have just barely enough and a single major disaster could easily wipe it out.

The remaining 60% do NOT have anything close to enough.

The REASON for this is because people have LIVES and do NOT have the time to study the stock market and make wise and timely choices for their retirements. However this is exactly what we EXPECT them to do WITHOUT any education or training whatsoever.

In other words the Wall Street Casino SET THEM UP to FAIL in order that they enrich themselves at the expense of hardworking Americans.

The problem that we now face is TENS OF MILLIONS of Americans are now facing an IMPOVERISHED RETIREMENT!

These people VOTE!

Once they figure out who caused them to be in this situation it isn't hard to figure out which way they will be voting. They can only be fooled for so long before the truth comes out.

 

Because most of the moderators are left leaning. When they get but hurt they look for any reason to close a post or give you a warning and edit your post.

 

You haven't come close. I have posted proof of most of what I said. You gave your opinion, which doesn't mean anything without backing it up.

 

Bullshit! I am not any more suited for success than anyone by any stretch of the imagination.
No one taught me to spend. I never had a teacher, parent, uncle, friend's parent or anyone who didn't say saving is important. NOT ONE! I don't know who this "we" is that promotes this bad financial behavior, I see ads on tv telling me I can bang a supermodel if I buy this car, I never found it convincing. I don't know what you mean retire comfortably. I can't live as comfortable as when I worked and that was never my goal. My goal was that me and my wife would not have to eat hot dogs and chicken for the rest of our lives and just stay in our home. For me to be comfortable I would require about 3/4s of what I made, I don't even have 1/2 the income now that I made.

Society to me has a responsibility to its citizens that bare necessities are met, not that you are "comfortable" Next year I will take a tax course and do taxes for 4 months just to help buy a new car as my camry is a 2005 with 186,000. I could take it all out of my 401K and get it and not work and be "comfortable" but I rather work and only take 1/2 of the price out of the 401K.

Society should not take from people who have produced and saved in order to help support those that made money and spent foolish. Pretty soon you would want society to give everyone a trip to disney every 5 years.

I don't know what education or training you need to invest in a S&P index fund. Back in the 80s Merril lynch went to my work once a year and spent a 1/2 day answering questions. His answers were all the same. Put at least in that received the matching funds from the employer.

And as far as the wall street casino goes, you don't want to play, invest in money market CDs. Like every boomer I saw the stock market dive 4 times in my life and it will again.

And when the stock market crashes it is not just hard workers in 401 that get hurt. the total investment of 401s are only 15% of the market. The rich get hammered as well. The investment banks do good so if you are a rich investor in Goldman sachs, you do well. so buy goldman Sachs with your 401.

 

This happened to me also. Now I understand what to include in posting a new thread.

 

I get no entertainment from dealing with a word twister so I'll let you go. You've embarrassed yourself enough.

 

As far as the health of the Republican party one need only look at California and come to Schwarzenegger's conclusion that the GOP "is dying at the box office". That assessment by a Republican governor was made a dozen years ago and things have only gotten worse for Republicans. Overwhelmingly Democratic, even independent voters outnumber Republicans who are down to less than 25% of the California electorate. Oregon/ Washington/ Hawaii are now joined by Nevada in eradicating Republicans. Arizona should be a sober warning to the GOP that the Western US is becoming as Democratic as the South is Republican.

 

The moderators have always treated me fairly.

 

Seems like someone doesn't have a clue what is going on here.

Gee, what a shock.

 

I think I can hold my own against most people.

 

Corporate DISINFORMATION is not proof of anything other than that corporations promote their disinformation in order to dupe the gullible.

For instance your BLOTUS brags about creating new jobs but LIES BY OMISSION by not telling you about ALL of the LAYOFFS!

https://www.forbes.com/sites/chuckd...tion-job-losses-and-politicians/#14ba36a3371d

https://www.cheatsheet.com/money-ca...right-after-getting-tax-cuts-from-trump.html/

Basically you BELIEVE the corporate DISINFORMATION that your BLOTUS has "created all these jobs" when the REALITY is that the NET job gain is BELOW the number of new workers entering the work force.

That is how corporate DISINFORMATION operates. You are only told what fits your Confirmation Bias. You REJECT anything that doesn't because it triggers cognitive dissonance. You are not alone in this regard. Your fellow BLOTUS supporters all make the same mistake of believing disinformation while rejecting factual information that exposes the fallacies of the disinformation.

 

Ironic PROJECTION duly noted and ignored for derogatory reasons.

 

Obviously you didn't ignore it but goodbye anyway.