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View Full Version : Are you living within your means?

chickenhead
10-08-2008, 12:05 AM
It is no big secret that we have done a poor job about living within our means here in America. I'm curious how well you are doing on that note right now, and whether you have changed anything in light of what we're seeing all around us. Particularly so far as whether you have increased the amount of money you sock away for your a rainy day, retirement, etc.

Probably the most basic measure for people (that are not retired) is what percent of their gross income does not get spent every month, but instead finds itself stowed into some kind of savings or retirement plan.

So tallying up your gross income, and adding together your monthly savings (401K contributions, additions to cash savings, pension contributions, IRA contributions, taxable stock account contributions)...how much are you saving? I don't want to know the actual #'s, just your percentage.

Do you think it is enough? If not, what is keeping you from saving more?
Tom
10-08-2008, 01:44 PM
What means?
10 grand down the tubes this week. From my retirement.
Where the hell is my bail out??????


Screw this F'g country to hell.
Great country???? My ass.
boxcar
10-08-2008, 02:11 PM
What means?
10 grand down the tubes this week. From my retirement.
Where the hell is my bail out??????


Screw this F'g country to hell.
Great country???? My ass.

If the "messiah" gets elected, he will pull your 10K out of thin air and notify you in email that the check's in the mail.

Boxcar
Tom
10-08-2008, 02:17 PM
But who is it going to....AIG?
JBmadera
10-08-2008, 02:52 PM
A couple years back I started to do pretty well financially and since I'm a big chicken by nature, sans my interest in handicapping, I paid off all my bills - the house, the cars, fully funded the kid's college fund etc. Once that was done I dumped every spare cent into the market. Now my while my portfolio has gotten hammered AND the company I work for just missed earnings big time and pick slips are on the way at least I know that i won't be living in my car again anytime soon....:jump:

I don't know what the answer is to the global deleveraging angst but I am glad I chose to delever......wonder how I will look in one of those wal mart greeter bibs?
Tom
10-08-2008, 03:05 PM
Good for you, J....take care of what is really important.
I'm taking all my money out of the system tomorrow...just because the weasels told me not to.
Greyfox
10-08-2008, 05:57 PM
Good for you, J....take care of what is really important.
I'm taking all my money out of the system tomorrow...just because the weasels told me not to.

Tom follows through on threat to pull all of his money from the system.

http://comps.fotosearch.com/comp/IMZ/IMZ238/man-breaking-piggy_~cwa0002.jpg
Tom
10-08-2008, 10:13 PM
Wrong piggy, Fox.....
GaryG
10-13-2008, 11:41 AM
I have never been interested in the stock market. When I have money to invest I usually buy real estate. The west NC Blue Ridge area has appreciated a lot with retirees from Florida and the north. They have their own communities to lessen the culture shock.... :eek: Worked ok so far but who knows what is in store for us?
wonatthewire1
10-13-2008, 07:10 PM
I have never been interested in the stock market. When I have money to invest I usually buy real estate. The west NC Blue Ridge area has appreciated a lot with retirees from Florida and the north. They have their own communities to lessen the culture shock.... :eek: Worked ok so far but who knows what is in store for us?


Good for you - one axiom of investing is understanding what is being invested "in" and it sounds like you've found a nice niche
George Sands
10-15-2008, 10:52 AM
What means?
10 grand down the tubes this week. From my retirement.
Where the hell is my bail out??????


Screw this F'g country to hell.
Great country???? My ass.

Quite the patriot.
NoDayJob
10-15-2008, 06:46 PM
This is greatest trading market seen in the last 70 years. Most of you should be out of the market unless you are a nimble trader and can trade both sides. Very few people have the stomach for it when the right side is the 'short' side. Capital preservation seems to be the prudent thing to do right now, unless you're trading. Cash, 90 day treasuries or short term 'treasury only' money market funds will do the best job of retaining a large portion of your capital, although the return is next to nothing. What we are going through I saw as a newsboy in the 1930's. It ain't goina get better for quite a while. People will have to stop spending and start saving. I just saw a K-Mart ad about a Christmas layaway program. It's been decades since layaway programs were replaced by 'buy now pay later' credit cards. Always remember, "And this too shall pass."
PaceAdvantage
10-16-2008, 01:15 AM
This is greatest trading market seen in the last 70 years.Absolutely without a doubt 100% correct. You can easily make in one week what it took six months to make not too long ago...
ddog
10-16-2008, 01:18 AM
short baby , ultra, it ain't over till the fat lady dies!
Tom
10-16-2008, 07:41 AM
Absolutely without a doubt 100% correct. You can easily make in one week what it took six months to make not too long ago...Tell that to my idiot IRA administrator. He can't match a savings account! :mad:
chickenhead
10-16-2008, 10:21 AM
as bad as the debt bubble is here in the US, it's not much better in Europe.

I think the Average American runs around a 120% personal debt to income level. Britains are around 140%, the recently defunct Icelanders were over 200%.

We moved up to 120% from around ~95% in the late 90's.