View Poll Results: Do you save money?

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  • I save money

    55 80.88%
  • I don't save money

    13 19.12%
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Thread: Do you have money saved?

  1. #81
    Villiage Idiot
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    Re: Do you have money saved?

    Quote Originally Posted by JustPassinThru View Post
    Do you have any investments?

    What are they in? What FORM are they in?
    A business, my personal home, commercial real estate, and a tad in the stock market.

    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.
    Currency may be worth far less, by my real estate, business, and stocks won't be. Anyhow, when was the last time that the American dollar was "alluva sudden" worth "far less"? Are you just talking about a couple of years of the Reagan administration when we had 10% inflation?

    On average, the US dollar will be worth about 3% less each year, and that's reasonably steady. I expect that, and thus I don't hold large amounts of cash or cash type investments. Cash is unproductive, I've much rather invest in something productive or something that they aint making any more of, than to save cash.

    It's just common sense. If someone ain't got common sense, that's not my problem, they deserve whatever they get.

    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.
    Every single instance of hyper inflation occured when there was some sort of shortage of goods or dramatic decline in production. Wiermare was invaded by France and Belgium who shut down their manufacturing sector. Production in Zimbabwe was distrupted by civil war. Even during the late Carter and early Reagan years, inflation was caused by the OPEC oil embargos.

    Maybe you dont understand what causes inflation. It's inadequate supply to meet demand. When supply is inadequate, sellers raise their prices.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  2. #82
    Villiage Idiot
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    Re: Do you have money saved?

    Quote Originally Posted by JustPassinThru View Post
    Gasoline prices are down because crude oil prices are down; crude oil prices are down because the price structure is not reflecting cost of recovery, but the demands of the OPEC cartel. It's a manipulated price.

    Computer prices are down as it's a mature industry benefitting from improvements in production as well as suffering from a soft market - as computers move into the bulk-commodity market. This is always the way of new technology - be it automobiles a hundred years ago, or phonographs, or televisions, or video recorders. Prices start high to pay for the startup costs, and then, as competition ensues and the initial demand slaked, prices fall.
    All of that is true, but the rest is a figment of your imagination.

    Milk is about five times what it was seven years ago.
    Milk is 3.99 at my local grocery store and $2.75 at Sams. Are you claiming that it was only 80 a gallon seven years ago? To the best of my recollection it was about $3 a gallon.

    Beef, over three times what it was.
    Ground beef is around $4/lb where I shop, seven years ago it was $3. That's not "three times".

    Clothing, nearly double.
    Clothing prices have substantially dropped. Bluejeans are cheaper today than they were 40 years ago. Tshirts are far cheaper than they used to be. 30 years ago a low end suit at JC Pennies was around $200, you can purchase a similar suit today at Pennies for about $100.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  3. #83
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    Re: Do you have money saved?

    Quote Originally Posted by Jerry View Post
    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.
    That is true. I used to be the OT king when I was a steel worker. But subtract the 48 hr take home pay from the 75 hr take home pay then divide by 27 and it is a lot less than 1 1/2 pay. But you are making more money no doubt. Just do this when you are young and your body can take it.

  4. #84
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    Re: Do you have money saved?

    Yup. 6 months living expenses.

    My discretionary income mostly goes into 401k, Roth, HSA, taxable...

  5. #85
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    Re: Do you have money saved?

    If I have $100 when I die I'll have died one day too soon.
    "How do I know what I think 'till I hear what I say?"
    -Donny 'Snowflake' Trumpkins-

  6. #86
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    Re: Do you have money saved?

    Quote Originally Posted by 3step View Post
    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?
    It's not been worth saving in ordinary accounts for a while. I have two large pension pots (one I am allowed to pay as much as I want into tax-free) and I am paying off two homes.

    If the same money went into ordinary savings, I'd be heading towards poverty in my old age.

  7. #87
    Dungeon Master
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    Re: Do you have money saved?

    I probably have over $100 in small change in a drawer in my bedroom.
    So follow me into the desert
    As desperate as you are
    Where the moon is glued to a picture of heaven
    And all the little pigs have God

  8. #88
    Villiage Idiot
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    Re: Do you have money saved?

    Quote Originally Posted by spud_meister View Post
    I probably have over $100 in small change in a drawer in my bedroom.
    You should exchange it for something that will hold it's value, like gold or pizza.

    Hyperinflation is just around the corner.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  9. #89
    Dungeon Master
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    Re: Do you have money saved?

    Quote Originally Posted by imagep View Post
    You should exchange it for something that will hold it's value, like gold or pizza.

    Hyperinflation is just around the corner.
    I regularly exchange portions of it for pizza.
    So follow me into the desert
    As desperate as you are
    Where the moon is glued to a picture of heaven
    And all the little pigs have God

  10. #90
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    Re: Do you have money saved?

    Quote Originally Posted by spud_meister View Post
    I regularly exchange portions of it for pizza.
    Don't forget diversification - better get some beer too!

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