General Discussion

TBF

(36,853 posts)

20. Yup - house and pension (or now 401K)

Tue Dec 23, 2014, 06:05 PM

Dec 2014

used to be enough but for many people but those days are gone.

We noticed with my frugal in-laws (so frugal that she would take his old shirts and make blouses for herself!) that they did really well selling their main residence and were able to enjoy their retirement until the last few years. These were not rich people - he went to school w/the GI bill after serving and they truly were savers who lived within their means. Those last few years of illness with medical, prescriptions, home aids - that's when the money went. And they are what I would've called the prime of middle America benefiting from the Great Society programs. I don't think those in my generation will have it nearly as good.

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Congratulations, rich people! [View all] MannyGoldstein Dec 2014 OP

Well now it can "trickle down"... SomethingFishy Dec 2014 #1

The only thing that's going to trickle down is the sweat Cleita Dec 2014 #3

Don't I know it... SomethingFishy Dec 2014 #5

After the first house and jet, it seems there should be a high luxury tax Cleita Dec 2014 #6

I've pretty much given up on myself... SomethingFishy Dec 2014 #7

I agree with everything in your post. I too would like my kids to have a better shot than I have had liberal_at_heart Dec 2014 #26

Lobbying politicians works! highmindedhavi Dec 2014 #2

I like rightwing ideology, myself. I cant get enough of trickle down... NoJusticeNoPeace Dec 2014 #4

My father in law GummyBearz Dec 2014 #27

a 'democrat' ticket? Democrat is a noun. Democratic is an adjective. 'ticket' is a noun. NewDeal_Dem Dec 2014 #39

Thanks GummyBearz Dec 2014 #45

my choice not to capitalize to type faster is a little different from the republic party's choice NewDeal_Dem Dec 2014 #58

Uhuh... GummyBearz Dec 2014 #64

uhhuh NewDeal_Dem Dec 2014 #65

It is GREAT for union run pensions as well. Some good at least. nt kelly1mm Dec 2014 #8

Until Wall Street figures out TBF Dec 2014 #18

The Multi-Employer Plans that just got offered up for cuts are not accessable by any one company Bluenorthwest Dec 2014 #57

Today's commercial from the Street - TBF Dec 2014 #66

He's still behind FDR and Clinton in stock market performance. n/t pampango Dec 2014 #9

remember if you are rich or poor olddots Dec 2014 #10

This message was self-deleted by its author Fred Sanders Dec 2014 #11

Thanks, Manny Thespian2 Dec 2014 #12

How many years has it been stuck at 1.7% now? This is how they are defunding SS. They haven't cut it liberal_at_heart Dec 2014 #30

Yes. You too can turn your backs on your fellow Americans when you're rich! stillwaiting Dec 2014 #13

Market gains benefit anyone with a retirement account, be it pension or 401k. (nt) TacoD Dec 2014 #14

The average American 401(k) has around $80,000 in it. liberal_at_heart Dec 2014 #15

Not sure how that rebuts what I said. (nt) TacoD Dec 2014 #16

Just that the fact that the DOW is at 18000 helps the rich people about a thousand times liberal_at_heart Dec 2014 #17

some people make out like bandits, others get bones tossed at them Skittles Dec 2014 #33

And then they get scolded for being insufficiently grateful Orrex Dec 2014 #60

That's B.S. Ineeda Dec 2014 #19

Well you can be grateful all you want. I don't have to. liberal_at_heart Dec 2014 #21

People will be fine? Or you will be fine? Rex Dec 2014 #29

I'm just as horrified and angry as most Ineeda Dec 2014 #31

see post #20 Skittles Dec 2014 #34

True, but Ineeda Dec 2014 #49

you are completely misreading Skittles Dec 2014 #68

Perhaps I am being misread. Ineeda Dec 2014 #69

they understand non-rich people benefit from the stock market Skittles Dec 2014 #71

Yes, I get that. n/t Ineeda Dec 2014 #77

Yup - house and pension (or now 401K) TBF Dec 2014 #20

and i'll bet the median 401k has even less. NewDeal_Dem Dec 2014 #40

The Median annual income for wage earners is just above,,, Cryptoad Dec 2014 #24

Only at the time of withdrawal. The "market" is made up of bubbles and bursts. rhett o rick Dec 2014 #63

Everything is great, don't you know, the stock market is the only thing that matters! dissentient Dec 2014 #22

careful Skittles Dec 2014 #35

Please don't pet the Turd Way. L0oniX Dec 2014 #56

Trickle , Trickle Trickle,,,,,,, Cryptoad Dec 2014 #23

Yep - they are dancing in the streets. maced666 Dec 2014 #25

The Big Supply Side Lie colsohlibgal Dec 2014 #28

Golf was particularly good today. moondust Dec 2014 #32

And keep believing you can work your way up to the level of "rich" all by your lonesome lonestarnot Dec 2014 #36

They. Red to be thanking you, du, and democratic voters everywhere Township75 Dec 2014 #37

so when the market goes down, we should be happy? onenote Dec 2014 #38

In the 50s, stocks were a lousy investment eridani Dec 2014 #41

Lousy Investment? From 1950 to 1960 the Dow Jones increased by 250 percent. onenote Dec 2014 #51

From 1950-1970 investment return was 13%, but wage growth was 100% eridani Dec 2014 #67

in other words you were wrong about stocks being a lousy investment onenote Dec 2014 #70

Compared to having a good job, yes. No one working for wages can afford capital investment, unless eridani Dec 2014 #72

Many DUers seem to be rooting for a 1929 style crash. Nye Bevan Dec 2014 #42

Many DUers want it to happen so they can blame Obama Capt. Obvious Dec 2014 #50

Bullshit. progressoid Dec 2014 #53

+1 L0oniX Dec 2014 #55

LMFAO L0oniX Dec 2014 #54

You think I'm happy I've had to dip into my 401(k)? liberal_at_heart Dec 2014 #78

The lower the DOW, the higher our chance of honest democracy. raouldukelives Dec 2014 #47

No one is saying we should be happy of the market goes down. progressoid Dec 2014 #52

Screw the unions! brooklynite Dec 2014 #43

Uh, Manny? One question... brooklynite Dec 2014 #44

Spend it on your dog. Or buy a politician. Autumn Dec 2014 #74

Take it to the next salon meeting. Nt benz380 Dec 2014 #75

I think I'll look first thing in the morning madokie Dec 2014 #46

DOW 18000 Jesus Malverde Dec 2014 #48

I'm still in the hole from where I was on December 1st. Thankful though it's B Calm Dec 2014 #59

And yet you have said you make a few hundred grand a year, you support a candidate who says Bluenorthwest Dec 2014 #61

How did it affect you, Manny? MineralMan Dec 2014 #62

Give all the toys to the little rich boys... adirondacker Dec 2014 #73

Not rich but thanks for all your well wishes Manny! GOLGO 13 Dec 2014 #76