Investing 102

[GregWeld]

Originally Posted by Vortech404

I hope none of you have to do this. Not good investing 102

https://finance.yahoo.com/news/early...mYlQ?.tsrc=sun


John

John ---


Here's the part that kills me and for the life of me - I can't understand!


If having STUFF is so f'n important to a person NOW -- that they refi'd the house 10 times to stay afloat -- and now they can't live within their means so need to cash out the tiny bit they have in the IRA..... just to buy stuff..... Which tells me NOW is the most important part of their lives. How do they expect to live and have STUFF in the future -- when they'll have no savings - and little income?

When a person turns 70+ -- and has no retirement - the house isn't paid for - the have a leased car... and the savings is drained to zero. NOW WHAT ARE THE PLANS TO IMPRESS THE FRIENDS WITH ALL THE "WEALTH"?

Americans are headed to the poorhouse as fast as they can get there.

First it was credit cards that bailed them out charging when the paycheck wouldn't cover - then the house ATM bailed them out again - and now it's the IRA... or all of the above.

[glassman]

Yeah, it frosts my hide to. Like a place to take (actually leave) a crap isnt important. A senior living in an apartment community is really going to have their rent at "25%" of their income, bunch bs. My 69 year old dad who preached saving and being conservative fiscally is in the poorhouse. My brotherr and I have to "help" him, and hes to "prideful" to get a job at Home Depot or walmart, so kids today arent the only ones with that "entitlement"......sux.

Eff those reverse mortages, live within your meens.....

And speaking of "stuff", its all temporary anyways, aren't we just "renting" it? last time i checked, weve all got an "expiration" date.... ....'..La dolce vita"......Live the good life, dont work too hard and dont work too little. And for heavens sakes people, manage your money (i didnt do it well for years and would be much better off now had i)......