In Italy it's a family tradition to save money [statistics say that the Italian people is among the ones with the highest propensity to saving money]. This is the luck of our government, since a great part of the enormous public debt of our country is owned by Italians [public debt bonds are the most common form of long term investment for saved money].
I save $800 a fortnight, but I've been a bit lax with that recently - planning a holiday and buying a few new toys. Have a lot saved up for someone my age.
Almost all people I asked are money-savers. I wonder why only third part of population saves money according to the research...
Wise words of warning. If you're going to save money, don't try to hoard FRNs. Store real money.. - - - Updated - - - I guess these wonderful 401Ks everyone seems to love represent one reason our central bank is so concerned with artificially inflating the stock market. Seems just about everyone's livelihood is now dependent on it.
A rainy day ? That's no longer part of California's vocabulary. But Gov. Jerry Brown has required that everyone keep an eye in your neighbors bathroom, if you see someone spending more than five minutes in the shower you are advised to snitch on your neighbor. You know how liberals are when it comes telling people how to live their lives, "Do as I say, not as I do." But I digress. I do have a dozen Krugrrands for a worse case scenario. Have a generator and ammunition that will be worth it's weight in gold to barter with. Cash is only good if you have access to it, if it's in the bank and the grid is down, the ATM's will not be working. Back when San Francisco got hit with an earthquake, people 500 miles away couldn't use the ATM's because it's all done by Baghdad by the Bay. I always keep a few grand around in cash. But if the store shelves are bare, what good is cash ? A hand pump is a must to pump gasoline and diesel from the underground tanks if there's no electricity.
Are YOU currently working or living off retirement? Lucky for Moi I purchased a disability policy with life term benefits. I don't think they make them like that anymore. I did not need Life Insurance because, there was just Moi at the time. Well the practice of medicine got really ugly, not allowed to take care of people. Must follow "protocol", no tailored Rx. And I was shaking more and more, "Essential Tremor". I could take Valium, but how many Valiums do you want Your Doctor under the influence so he doesn't "shake". Even the Insurance Company doctor agreed, A Univ of S. Calif. Med School Neurology prof. Pensions are "nice". I detest the idea that people are suppose to be comfortable & retired as they watch their "nest egg" shrink with each withdrawal of funds. A Nation should offer a voluntary "Pension Program" where one can opt in, in lieu of their IRA or KEOGH. A means to live secure and beyond Social Security survival. I am going to take my Social Security at its' maxed out point in 3.25 years. Age 70. Fatter pension time. I feel very, very lucky to be where I am - financially secure. I do have some savings in bank deposits near $200K and 1 oz Gold and Silver Eagles. Not currently calculated. House paid off and taxed under Prop 13 And I got lots of time to play here too. Moi r > g No
It's savings that is invested but not as liquid as some other savings perhaps but still savings. Sure my IRA is not very liquid by is savings none the less. That is why you have your savings divided into different level of liquidity.
Investing has become the new saving, apparently. And why not? It benefits bankers like crazy, and they control... everything.
When I put money into a simple savings account it is INVESTING, I am getting a return on the money by investing it at the bank in a savings account. Now it doesn't make a lot of money, but it is about as safe and as liquid as you can get thus the low return.
Indeed, and the bank takes that money and uses it in turn - multiple times over, even, thanks to fractional reserve. It's another way investment has replaced saving. Saving used to be holding your real money - gold and silver - and saving it until you need it. What we do now with FRNs is always a form of investment. You can see why they dread deflation - people would actually hold on to their FRNs instead of reinvesting them somewhere.
As they have always done and I get a return on it. They are one in the same unless I save my money under the mattress or bury it in the backyard. AND putting it into a product that also returns you interest or other return. NOT putting it in a jar in the cupboard.
AND eating away at people's salaries and wages in order to pay people like you a dividend. Those concerned about wealth inequality need to look closely at this overall system.
No the wages and salaries get paid first, then anything left gets payed as a dividend or is reinvested in the company. How do you think people in retirement have income, through their savings which was invested and now they live off the dividends those investments make. How do you think your retirement funds grow, by the dividends paid and reinvestment into the company. Or do you not save for your retirement and invest in the economy?
We invest in the economy whenever we participate in it, and that's actually pretty much impossible to avoid doing even without nominal investments. I have some savings (in accordance with what I recommended earlier), and then there's the investment coerced by the government through taxation. And see, for a lot of people the costs of taxation and living expenses make investing difficult, and with interest rates so low right now I understand such investments to be of little worth as well. It also doesn't inspire confidence when the stock market is propped up by central bank pumping schemes as it has been since the crash began in late 2007..
I currently have a 6 month emergency fund, a retirement fund, and a spattering of long term investments. I too usually save about 20% of my net to these various accounts. I'm sure that some conservative will come along and accuse me of building some sort of communist infrastructure lol.
Where would you get the idea? I congratulate you and urge you to stop voting for liberal candidates before they view your situation as too unfair and start taxing it from you.
Gee, I wonder? Thank you, it's just simple budgeting and economics. I know, how dare I pay my fair share of taxes to fund our infrastructure, help the less fortunate than myself get by, various government programs that help a wide variety of Americans and help pay our over-bloated military budget. I best start voting for people who want to gut all these programs (except the military of course) And start spitting on those that are having a hard time in life. I'll probably be ostracized if I mention that I volunteer at a homeless shelter/soup kitchen 2 days a week.
As do I. Yes something more in this country should practice rather than demanding government take money from other people and give it to them because they did not practice the same. So you are all for the Democrats passing new tax laws that tax your savings and gives it to people who did not save? You really don't think you pay enough taxes? How much would be enough then? Which income quintile are you in? Why would you think that? I have never understood the belief some have that unless you support ALL government programs then you do not support helping the truly needy. How exactly did you arrive at that?
Pretend to be a liberal on a forum for a while, you'll get it. It took me years of hard work and scrimping and saving getting knocked down, getting up again, starting over, penny pinching, to get where I am today. If I can help make it a little easier for others to not struggle as hard as I did, I'm all to happy to help. I'm not rich by any means, (they'd have to come out with a Forbes 200,000,000 for me to be mentioned lol) but if they hike up my taxes, there's plenty of loopholes to take advantage of to reduce my tax burden, Have you ever listened to some conservatives talk about the poor? They all but think that if you are broke in this country you're a leaper, it sucks being poor in this country, I've been there, and seen it, sometimes it's really REALLY not a person's fault they are in the situation they are in. It took me literally years to crawl out from being a hobo taking any odd job I could to doing what I do now and being able to afford to pay my own way without any help from anyone. Yeah, there are a few that are truly lazy bums who do nothing but drink and panhandle all day, but some are just stuck, too old to start over again, too weak, too tired. I'm not saying you have to accept every government program or you don't support the truly needy, I'm saying that some of these programs actually help people get back on their feet.
What I get is your dodging the matter. As did most successful people and you are perfectly free to help as much as you want, you can even overpay taxes if you believe government is the answer. OR start a company and hire people and pay them for their labor. So what? You have lots of savings and when enough of the bottom 50% cry about it not being "fair" then the government will come and start taxing it so they can give it to those who did not work and scrimp and save like you. What a "fair" thing to do. Well since I AM a conservative I guess so. The question is have YOU ever listened to conservatives or just other liberals telling you what conservatives believe. I think the latter. The fact is that for the vast majority of the lower income earners they are lower income earners because of their own decisions and own actions or lack thereof. We aren't talking people who are TRULY disabled or incapacitated. I started out with nothing and working unloading boxcars full of lumber and cutting sheetrock in a metal building on hot summer days in the deep South. So don't think you can trump me with your "life is difficult" stories.
That has to be the dumbest single post I've ever read. How do you plan to retire if you don' save and invest?? Think man!!
You are doing a fine job proving my point, you know I'm a liberal, and yet here you are knowing that I have savings and you are fully expecting me to pay a higher percentage in taxes voluntarily because I'm a liberal. I wouldn't expect you to pay a higher percentage of your income to taxes just because you are a conservative. So, do you see what I'm talking about? I don't think I would do too well starting up my own company, I would like to, but most start up companies fold within the first year, and I really don't feel like starting over yet again. Someone has to pay for this military, and tax cut after tax cut after tax cut, while helping me out personally, doesn't pay the Washington bills. You would be thinking incorrectly. There are people who have made bad decisions in life, I've made my fair share too. Should they be punished permanently for errors on their part? Seems a bit heavy handed to me. I don't presume to know your personal struggles, and I'm sure there are many that have worked harder than I to get to where they are. My point was that not all liberals are lazy do nothing sponges on the system as some conservatives believe.
