The REAL reason why people are broke and don’t have any savings for an emergency

[TRUEST]

Nah it comes down to lack of accountability & bad money management

Ain’t got nothing to do with living life vs retirement

People in general make bad decision & make excuses after. Spending money on restaurant food that will last a day instead of buying food to last the week.

Going out & blowing money on drinks when you don’t have it to spend. If you wanna drink grab a bottle it will be cheaper. Tricking off cuz she might let you smash lol

Do better

Food is the one area you shouldn’t cut down on unless you’re a fatso eating like it’s 1999. At least prince had a lion in his pocket that was ready to roar. If you dont wanna party then don’t bother getting on the floors. When dove cry….

 

[Ozymandeas]

Yeah people work there whole life to save enough to be retired at 65 and too to enjoy the money. I am going the real estate route to generate income after retirement but I'm not putting 70% of my check in a hedge fund like some people suggest.

Same

 

[The Realist Perspective]

Please learn what overhead to a business is. Once you understand that, you'll see everything wrong with this post.

Please tell me how I’m wrong? And be specific. Otherwise you’re wasting both of our time responding.

 

[Yagirlcheatinonus]

I love living in NC

 

[Rakpo98]

People here talk slick, like they’ll be fine once they hit retirement age, but you have to look at the overall picture for younger people. 20-30 years ago, a boomer could save up to $1 Million for retirement, and they would’ve been fine living off of that for 20-30 years (assuming they’re between 60-70 years old at the start of retirement). The cost of living has gone up astronomically in that same time span. That $1 million saved for retirement (w/ social security added) is now $3-4 Million today. Some boomers who are reaching retirement age right now, have to work past that retirement age of 65, because $1 Million is not enough to live on for 20+ years. In 30 years, the minimum number to have for retirement might be $6-7 Million on the low end. How the hell is anyone supposed to have that much saved up, considering the fact that you also have to deal with higher student loan payments AND higher housing costs? Unless you’re already born upper middle class or rich, most people won’t be able to make retirement age with that kind of bread.

This is also why birth rates in this country are slowing down, and will continue to slow down. Adding a child or children into the mix, will also nuke your finances. By the time Gen Z reaches 30-40, a lot of them might opt to not have kids. Most of them probably won’t be married, and a decent amount of them will still be living with roommates, even if they’re making six figures. I bet this is why republicans are so hell bent on banning abortions everywhere. They probably see the trend’s going the other way for birth rates. The future all around is looking bleak for late stage millennials and Gen Z’ers.

 

[DJ Paul's Arm]

Guess a lot of people just assumed they going to check out before 62

That or WW3, climate change or aliens take over.

YOLO

 

[Gritsngravy]

Metropolitan statistical area - Wikipedia


Click the link. Look at the cities after #20. Have fun

So you recommend people move to cities you don’t know about?

I didn’t even expect you to name a “100 plus cities” but you can’t even name 10 cities?

 

[Gritsngravy]

People here talk slick, like they’ll be fine once they hit retirement age, but you have to look at the overall picture for younger people. 20-30 years ago, a boomer could save up to $1 Million for retirement, and they would’ve been fine living off of that for 20-30 years (assuming they’re between 60-70 years old at the start of retirement). The cost of living has gone up astronomically in that same time span. That $1 million saved for retirement (w/ social security added) is now $3-4 Million today. Some boomers who are reaching retirement age right now, have to work past that retirement age of 65, because $1 Million is not enough to live on for 20+ years. In 30 years, the minimum number to have for retirement might be $6-7 Million on the low end. How the hell is anyone supposed to have that much saved up, considering the fact that you also have to deal with higher student loan payments AND higher housing costs? Unless you’re already born upper middle class or rich, most people won’t be able to make retirement age with that kind of bread.

This is also why birth rates in this country are slowing down, and will continue to slow down. Adding a child or children into the mix, will also nuke your finances. By the time Gen Z reaches 30-40, a lot of them might opt to not have kids. Most of them probably won’t be married, and a decent amount of them will still be living with roommates, even if they’re making six figures. I bet this is why republicans are so hell bent on banning abortions everywhere. They probably see the trend’s going the other way for birth rates. The future all around is looking bleak for late stage millennials and Gen Z’ers.

Things is being set up for people to work longer, fukk around and work till you 80 something

But the grind culture will say people should’ve saved multiple millions if they wanted to retire at a reasonable age and I’m not sure if america is ready to rethink the grind culture

 

[UpAndComing]

So you recommend people move to cities you don’t know about?

I didn’t even expect you to name a “100 plus cities” but you can’t even name 10 cities?

I been to majority of those cities on that list. Any other excuses?

 

[Rekkapryde]

Yup. I ignored all the excuses and dumb nikka babble in this thread. Anyone who thinks ppl who prioritize fun over their future is going to turn out to be anything other than a 50 year old working jobs meant for teenagers is a damn idiot

 

[Rakpo98]

Things is being set up for people to work longer, fukk around and work till you 80 something

But the grind culture will say people should’ve saved multiple millions if they wanted to retire at a reasonable age and I’m not sure if america is ready to rethink the grind culture

That’s 100% right. We’re being forced literally to work well into our 70s, with the COL and Housing Costs increasing beyond affordability. Even if someone does all the right things (six figure salary, 401K contribution, paying off student loans, or having a lower student loan payment), unless you get married to someone who is also earning six figures, it’s doubtful that you’ll have enough saved at 65 to have a meaningful life post retirement. I’m already looking at places overseas to retire to, because I doubt that I’ll be able to retire fully at 65. I’m preparing myself to retire to Africa (Kenya). I got family in Africa, and I plan on purchasing property in Kenya that I can retire to in 20-25 years. I can get a 6-8K Sq Ft home for $300K. I’m going to save up enough to make that dream come true in the future.

 

[UnQuantized]

Childhood friend died of a sudden heart attack in June aged 30. Among my friends, he's the one who did the right things first. He had a great career, was very social so had a great network, saved money, very disciplined, met his wife early and it was all taken away. There are no guarantees. So while I think Gen Z should think about the future a bit more, I understand why they just want to enjoy the moment.

 

[Justin Nitsuj]

White supremacy really got y'all thinking we should work over 40 plus hours weekly til we fukking die.
Like Miles Morales said "nah I'ma do my own thing".

 

[Gritsngravy]

That’s 100% right. We’re being forced literally to work well into our 70s, with the COL and Housing Costs increasing beyond affordability. Even if someone does all the right things (six figure salary, 401K contribution, paying off student loans, or having a lower student loan payment), unless you get married to someone who is also earning six figures, it’s doubtful that you’ll have enough saved at 65 to have a meaningful life post retirement. I’m already looking at places overseas to retire to, because I doubt that I’ll be able to retire fully at 65. I’m preparing myself to retire to Africa (Kenya). I got family in Africa, and I plan on purchasing property in Kenya that I can retire to in 20-25 years. I can get a 6-8K Sq Ft home for $300K. I’m going to save up enough to make that dream come true in the future.

I feel like I can still be productive at a higher age if I make it there, but I guess the question is what job could you in theory work at 70 something

I was thinking like some type of teacher, principal, or administrator or something of that nature in terms of education

 

[I'm Blackman]

Mfs too bouje to push a 04 civic. Ik dudes paying $700 a month for a car note & insurance

My car is 16 years old, paid off…had it going on 5 years im riding this mf til the wheels fall off.

Sure, my AC works intermittently and my check engine light has been on since 2019. Still gets me from A to B

you a smart man for this.