Thursday, April 6, 2017

MN Retirees Coming Up Short

MP Retirees Coming Up Short My first comment over there...

"Why again would the State need to do any of this when Vanguard, Fidelity and other low cost firms have dozens of options. The big question is why aren't people saving and investing? Has the obsession with nice phones, nice vacations, nice houses, etc overwhelmed the self discipline needed to live below one's means and invest?" G2A

I remember my Uncle's "starter home" in Apple Valley ~40 years ago. It had ~2 bedrooms and a bathroom... I don't think it even had a garage at first... And then over the years they added on and improved it. I am not sure if there are developments like that anymore... Who would be willing to buy those homes in our time of higher expectations?

I am concerned that I can already hear the Liberal solution to this personal problem... 
  • Paul lived well and didn't save enough.
  • Peter scrimped, saved and invested.
  • It is unfair and I feel bad that Paul is struggling financially.
  • And I feel that Peter has more than he needs.
  • Let's raise the taxes on Peter.
  • Then Government can give Paul more money and services...
  • Problem solved !!!  Now I feel better !!! :-)
I mean this is what ACA does... I always wonder why I take on the tasks I do to save money...  My latest is replacing the rusty parts on my 2002 Suburban...Maybe I should just join the spenders and get a new shiny truck?  Nah...  I'll keep saving and investing and hope the government let's me keep some of it. :-)


Anonymous said...

The reason I am such a strong supporter of Social Security is that people, for whatever reason, don't save for their retirement.


John said...

Agreed, whatever the other pros and cons of SS, Medicare, SS Disability and Unemployment Insurance... It does make people put money away for that rainy and/or retirement day.

I just wish they would raise the FICA rate so the mandatory "premium" payments matched the desired benefits.