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Do you have money saved?

Do you save money?

  • I save money

    Votes: 55 80.9%
  • I don't save money

    Votes: 13 19.1%

  • Total voters
    68
We both save a pretty decent percent of our salaries. I put 12% into my 401k, my wife puts 10%. I put money into my HSA every month, we both put money into our daughter's college fund, we both have a couple savings accounts, one for our fun money (for hobbies and stuff) and the other for infrequent expenses like car or home repairs, clothes, etc. And we have a brokerage fund with fidelity that is a combination of our emergency fund and savings for vacations or home improvement projects. Since it's not as safe as a savings account, we keep more than 6 months worth of expenses in there most of the time. Overall, about 30% of my gross income gets put in one form of savings or another.
 
I have savings.

Not in dollars. Dollars have become a risky savings device; risky since the DemocRats are pumping trillions in printed-up dollars into the system to inflate the currency and devalue what money is legitimately out there.

My savings are in something else. I could live for about ten years on it...I'm not overly worried. I've taken care of myself as best I can; the rest is out of my hands.

Money isn't intended to be a long term storage of value, so you are very wise in that aspect.

However, inflation has been at record breaking lows since those danged "DemocRats" started pumping trillions into the economy. This kinda proves your "quantity of money" theory wrong. You might want to learn a little more about economics, particularly monetary policy. It doesn't work like you think.
 
Most of my savings right now is 401K for retirement. With matching funds from my employer it's 14% of my income.

We have some non-retirement cash saved, not a huge amount but have a vacation home with more equity than debt and a completely paid off investment property which can both be sold quickly with little problem if needed.
 
I only do short term saving. Whenever I have around $15k or so in the bank, I immediately stop working and start living on savings, go on long term vacation until I run out of money. When I am broke again, the cycle starts over.
 
I only do short term saving. Whenever I have around $15k or so in the bank, I immediately stop working and start living on savings, go on long term vacation until I run out of money. When I am broke again, the cycle starts over.
You know if you became a monk as opposed to going on your orgy tours you would have had a nice nest egg by now. ;)
 
I am not the best saver, but have deferred 15% of my income into my 401k for years now. My wife puts money into her 401k as well. We both also do FSA's every year.
 
Money isn't intended to be a long term storage of value, so you are very wise in that aspect.

It's not?

How do you measure productive investment, if not in dollars invested? Or other currency. One reason the United States was so prosperous over the years is that, mostly, in years past, the money supply was stable.

If it is not stable, if return-on-investment means little because it has to be weighed against a to-be-determined inflating of the currency...investment stops. People buy gold instead and bury it. And that drags the economy DOWN; it doesn't stimulate it.

However, inflation has been at record breaking lows since those danged "DemocRats" started pumping trillions into the economy. This kinda proves your "quantity of money" theory wrong. You might want to learn a little more about economics, particularly monetary policy. It doesn't work like you think.

I'm not the one deluded. First, PRICES ARE RISING. Just go to the grocery store and tell me they're not. The inflation figures goobermint put out are spindled and mutilated - like the unemployment figures.

Second, Inflation is NOT rising prices. Rising prices are a result of inflation; but other factors can come into play. Inflation is, literally, an inflating of the supply of the currency. Injecting new units, created out of nothing, which devalue the existing units, which were traded for wealth.

The currency can be inflated and yet prices remain down; and one reason we're not seeing - yet - hyperinflation, is that people are scared spitless and are resisting buying any but essential items. Fewer buyers result in price decreases or at least prices remaining fixed.

The money supply IS increasing by over a trillion dollars every year. That is GROSSLY irresponsible and WILL show up later as hyperinflation.
 
It's not?

How do you measure productive investment, if not in dollars invested? Or other currency. One reason the United States was so prosperous over the years is that, mostly, in years past, the money supply was stable.

If it is not stable, if return-on-investment means little because it has to be weighed against a to-be-determined inflating of the currency...investment stops. People buy gold instead and bury it. And that drags the economy DOWN; it doesn't stimulate it.

Investment in the United States is at record highs so I am not sure what you are talking about.
 
It's not?

How do you measure productive investment, if not in dollars invested? Or other currency. One reason the United States was so prosperous over the years is that, mostly, in years past, the money supply was stable.

If it is not stable, if return-on-investment means little because it has to be weighed against a to-be-determined inflating of the currency...investment stops. People buy gold instead and bury it. And that drags the economy DOWN; it doesn't stimulate it.



I'm not the one deluded. First, PRICES ARE RISING. Just go to the grocery store and tell me they're not. The inflation figures goobermint put out are spindled and mutilated - like the unemployment figures.

Second, Inflation is NOT rising prices. Rising prices are a result of inflation; but other factors can come into play. Inflation is, literally, an inflating of the supply of the currency. Injecting new units, created out of nothing, which devalue the existing units, which were traded for wealth.

The currency can be inflated and yet prices remain down; and one reason we're not seeing - yet - hyperinflation, is that people are scared spitless and are resisting buying any but essential items. Fewer buyers result in price decreases or at least prices remaining fixed.

The money supply IS increasing by over a trillion dollars every year. That is GROSSLY irresponsible and WILL show up later as hyperinflation.

The part I bolded explains what money is. It's not wealth, it's an accounting tool that we use to measure wealth with, and something that we use as a medium of exchange. Money in itself isn't productive, it's only productive when it is put to use. Someone saving money in a jar or in a bank account isn't doing anything productive with it, and surely they understand that over time, money reduces in value.

Going back a few thousand years, there really was no such thing as long term savings. If a farmer tried to save his crop, eventually he would find that vermin have destroyed it. If a hunter tries to save his kill, it would spoil. It used to be that we just inheritently understood that our savings would decline in functionality over time. These days, the entitlement mentality seems to prevale, and many people expect that they should get free money just for saving, without doing anything productive. Those who think that are really little different than those who expect the government to give them welfare. It's all about something for nothing.

If you are planning on doing a lot of saving, then you should exchange your money for something that you feel should retain it's value better. Or better yet, exchange your money for something productive, like rental property or start a business.

It's really kind of silly that people think they should just be able to keep money (in a jar or in a bank account), and do nothing productive with it, and expect that the value of that money should magically increase. Money in itself is basically worthless. The government creates money out of thin air, and it can be created in virtually unlimited quantities at nearly no cost.
 
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It's not that I save it's more that I just don't spend money. My co-workers and friends tend to make fun of how a live but it doesn't take much to make me happy
 
According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?

Yup, I have about one months money stored in my savings account just in case I need a bit of money for my car, a new appliance or something like that.

I do not need to really save for my pension because I get a state pension when I retire and a bit on the side from my previous employments.
 
According to new studies released recently, roughly a third of American adults don't have any emergency savings. As for me, usually I put 20% of my income into my deposite account and I have some cash for a rainy day saved at home. Do you have savings for emergency case or maybe for retirement? What part of your income do you save?

None of your business.
 
My brain crapped out on me. I've got a laundry list of psychiatric disorders.

Look at the link below. It might help if you would contact the nearest "Center for Independent Living" and talk with an "Advocate" who will help you "get the government's attention", whichever the appropriate agency might be.

Psychiatric disorders/disabilities can be diagnosed and verified at your local MHMR office who does assessments and provides medication. And sometimes MHMR's can help with "advocates"...or at least make a referral to a local CIL (Center for Independent Living).

SSI is sometime hard to get if you've never had any type of income, but not impossible. SS always turn down first applications for a lot of people who have had incomes Sometimes several applications. But with some assistance from an Advocate, it might work.

In my opinion, it's worth a shot. You will have to be persistent. And...the right advocate can help with the "persistent part".

ILRU Directory of Centers for Independent Living (CILs) and Associations - 2014 (Vol. 36) | Independent Living Research Utilization
 
I have a lawyer, but thank you. And through my mental health clinic, I have a case manager who helps me deal with government agencies.
 
I have a lawyer, but thank you. And through my mental health clinic, I have a case manager who helps me deal with government agencies.

For a guy with a host of psychiatric disorders you're pretty goddamn functional. At least on this forum.
 
It's not that I save it's more that I just don't spend money. My co-workers and friends tend to make fun of how a live but it doesn't take much to make me happy

Same here, I don't drive a fancy car..my car has been paid for many years ago. I don't buy crap I don't need.

I have the cash now, but it has to be something I really want (like a pristine pinball machine that I want for under 2K). I travel a lot, but I found that staying in the $70 a night hotel is the same as staying in the $300 a night hotel...because I rent a car and spend the days at a beach or hiking...which costs nothing.
 
12-14hr days. Sun+Mon+Tues= 36 to 42hrs, so by Wednesday morning I'm either about to cross into OT or have just crossed into it. My hours cap is 70 so that means I usually take Saturday off.

I always found that 8 hours was the max optimum amount of overtime. If I am not wrong the higher wage of overtime will face highest marginal tax rate. The overtime work can actually push one into a higher tax bracket.
 
For a guy with a host of psychiatric disorders you're pretty goddamn functional. At least on this forum.

It's why I stepped down as a mod. And why I take long absences. I'm not capable of functioning in a work environment-- at least, not for long. Nobody's willing to keep someone on payroll who has to take off randomly in the middle of shifts or call in sick for weeks at a time.
 
It's why I stepped down as a mod. And why I take long absences. I'm not capable of functioning in a work environment-- at least, not for long. Nobody's willing to keep someone on payroll who has to take off randomly in the middle of shifts or call in sick for weeks at a time.

Understood. That being said, you hold it together better than the majority of posters here. In fact, aside from a couple outre positions you've held I never would have known about your condition if you hadn't continually mentioned it. I guess it pays to know you're crazy, rather than have everybody suspect it in your stead.
 
I always found that 8 hours was the max optimum amount of overtime. If I am not wrong the higher wage of overtime will face highest marginal tax rate. The overtime work can actually push one into a higher tax bracket.
Yeah it does bump you into another tax bracket but you still take home a more. My 75hr check is a hell of a lot bigger than my 48hr check.
 
The part I bolded explains what money is. It's not wealth, it's an accounting tool that we use to measure wealth with, and something that we use as a medium of exchange. Money in itself isn't productive, it's only productive when it is put to use. Someone saving money in a jar or in a bank account isn't doing anything productive with it, and surely they understand that over time, money reduces in value.

Do you have any investments?

What are they in? What FORM are they in?

Now. How do you protect your savings or investment when the money supply is corrupted by a destructive government printing up more...dollars, sheckels, pesos, whatever? You had to work hard to earn those dollars; and you invested them in mutual funds - or put them in savings tools - and alluva sudden, those dollars are worth FAR LESS.

It's the story of Wiemar Germany. Or of Zimbabwe a few years ago. Or US in a few years, when all that fake, printed-up money starts washing into the general circulation.

There are few practical ways of saving without a monetary currency and NO practical way to invest. And no, Beanie Babies or Britney CDs are not investments.
 
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