Comments for 20s Money

Comment on How Much Of Your Mortgage Payment Goes Towards Loan Principal? by Amateur Financier

Amateur Financier — Sun, 21 Mar 2010 01:42:14 +0000

Just a note, I included this post in my weekly round-up: http://www.theamateurfinancier.com/blog/weekly-ro... I didn't see a trackback or another method of contacting you.

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by 20smoney

20smoney — Sat, 20 Mar 2010 19:34:03 +0000

I agree!

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by jason

jason — Sat, 20 Mar 2010 18:25:10 +0000

"I see this leading to more parents living with the kids in old age and that means our generation (20's-30's) should be ready to welcome the old folks into our lives. "

I, for one, have no problem with this happening. I would simply view it as returning the favor of my fathers lifetime of sacrifice. I'm not sure when it became more common for every member of a family to own their own home and cut all ties.

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by Redeeming Riches

Redeeming Riches — Fri, 19 Mar 2010 11:31:47 +0000

I think another solution is to try to diversify your income sources as much as possible so that if you do lose your job, you at least have some supplemental cash coming in! Good post!

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by 20smoney

20smoney — Fri, 19 Mar 2010 00:31:23 +0000

Interesting thoughts. I'd be interested in hearing more of your insights!

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by 4sightfund

4sightfund — Fri, 19 Mar 2010 00:17:33 +0000

I don't think however that our generation (and this is coming from a 22 yr old) should just lay down and die before we've even had our go at the wheel. And I also think that the solutions to the problems that we're gonna be inheriting are gonna have to come from us. For instance, me and a buddy have been working on an idea using hybrid portfolio theory concepts to structure a new type of savings vehicle. We're looking to design a portfolio management approach that replicates a call option. We're not expecting the types of innovations that would help our generation out of this mess we're in to come from Wall Street, its gonna come out of some dorm room or basement or garage. But then again that's always been the way America innovates.

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by 4sightfund

4sightfund — Fri, 19 Mar 2010 00:16:56 +0000

I can't really comment on the guns and food thing, but there definitely is a solution to the issues that are being raised. I'm sure we can all agree on a couple things: 1) a fundamental problem that has and will continue to perpetuate our current state of ill-affairs is that mom, dad, or at least some of their friends didn't save enough over their working lives. 2) the problems with the average household balance sheet is being exacerbated by current financial market trends (which are perfectly natural by the way). And even how mom and dad saved has its fundamental flaws.

Comment on The Land Of The Unsustainable by Blake

Blake — Thu, 18 Mar 2010 23:31:55 +0000

It has been proven that extending benefits inflates unemployment number when jobs are available, but this is not the case at the moment. Check out this article.

http://www.politifact.com/truth-o-meter/statement...

Also, a real fear is that if unemployment benefits are discontinued, more people will try to get SS disability and never get off.

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by 20smoney

20smoney — Thu, 18 Mar 2010 16:39:40 +0000

Good points! I agree and think there is a massive standard of living adjustment coming, although it's not nearly the end of the world might be good for some people.

Comment on American Dream: 43% Of Workers Have Less Than $10k For Retirement by UptownDenver

UptownDenver — Thu, 18 Mar 2010 16:18:32 +0000

When you are looking to the future the clearest view is behind you…

I see two possibilities…

1. The US comes out of this whole problem doing just fine and continues to be the hegemonic power it has been for the last century.
2. The US can't sustain the amount of debt (private and public) that we have gotten ourselves into and falls down the global ladder.

Either way, I just don't see our society crumbling around us. I see something more along the lines of what happened to the UK when their empire fell, they aren't the big dog anymore but they are living well. I see a combination of solution 2 and 3 happening. Gov. will step in to help alleviate the problem and people will be forced to work longer. I see this leading to more parents living with the kids in old age and that means our generation (20's-30's) should be ready to welcome the old folks into our lives.

Now I don't know about you, but my parents living with me would really make me focus on saving for the future! Society is a lot like the stock market, as things change society will react and come to some sort of balance. It might be a painful correction and I would encourage saving, paying down debt, and buying some gold, but I wouldn't worry about the guns and food quite yet.