Go Back   Tech Support Forum > The Relaxation Room > Current Events

User Tag List

It's just 10 Ben Franklins, but most Americans say they'd struggle to come up with it

This is a discussion on It's just 10 Ben Franklins, but most Americans say they'd struggle to come up with it within the Current Events forums, part of the Tech Support Forum category. Really kind of sad since the economy is supposed to be better. $1K Emergency? Most of Us Would Struggle to


Closed Thread
 
Thread Tools Search this Thread
Old 05-19-2016, 12:43 PM   #1
Gone | Not Forgotten
 
Basementgeek's Avatar
 
Join Date: Feb 2005
Location: Ohio, USA
Posts: 14,581
OS: XP Pro SP3/Vista Ultimate SP2/Win7 64 bit



Really kind of sad since the economy is supposed to be better.

$1K Emergency? Most of Us Would Struggle to Cover It

BG
__________________

ASAP member since 2006

Four boxes keep us free: the soap box, the ballot box, the jury box, and the cartridge box.

Basementgeek is offline  
Sponsored Links
Advertisement
 
Old 05-19-2016, 08:15 PM   #2
Registered Member
 
Join Date: Sep 2015
Location: Northern Calif
Posts: 67
OS: Win 7 Ult, Win 8.1, Win 10

My System


Another sad thing is that the average American has less than $200K saved to finance their retirement and depends too heavily on Social Security. Since the average SS benefit is only $1341/month, that makes for a rather bleak retirement.
strollin is offline  
Old 05-20-2016, 09:53 AM   #3
TSF Team, Emeritus
 
Old Rich's Avatar
 
Join Date: May 2007
Location: Houston, Texas
Posts: 54,256
OS: XP, Win 7



With no historical number to compare it to, not sure where it stands. on one hand, it is surprising that at incomes of those levels it would be so difficult, although I can recall times in my life that it would have been true.
__________________
Rich



Old Rich is offline  
Sponsored Links
Advertisement
 
Old 05-20-2016, 11:14 AM   #4
Gone | Not Forgotten
 
Basementgeek's Avatar
 
Join Date: Feb 2005
Location: Ohio, USA
Posts: 14,581
OS: XP Pro SP3/Vista Ultimate SP2/Win7 64 bit



The first several years, I could not come up with $1,000.00. It wasn't until the kids where grown and out of school was able to put nice money away.

I can see that the average person would not have $200K in savings. If your only retirement is Social security, you will need a fair amount of money saved if you want to continue your lifestyle.

The first bill you pay every month is yourself (saving) even its only $5-10 a month as it does add upp.

BG
__________________

ASAP member since 2006

Four boxes keep us free: the soap box, the ballot box, the jury box, and the cartridge box.

Basementgeek is offline  
Old 05-22-2016, 09:12 AM   #5
Moderator
 
Drew1369's Avatar
 
Join Date: Jan 2007
Location: Graham, WA, USA
Posts: 6,773
OS: Win8


Quote:
Originally Posted by Basementgeek View Post
The first several years, I could not come up with $1,000.00. It wasn't until the kids where grown and out of school was able to put nice money away.

I can see that the average person would not have $200K in savings. If your only retirement is Social security, you will need a fair amount of money saved if you want to continue your lifestyle.

The first bill you pay every month is yourself (saving) even its only $5-10 a month as it does add upp.

BG
One of the things I do is move money every pay cycle from my checking to my savings of what was left over from the last pay cycle... if it was $200 then that gets moved to savings, if it was $.39 then that gets moved to savings... I figured if I didn't spend it, I didn't need it...
Drew1369 is offline  
Old 05-22-2016, 10:57 AM   #6
Gone | Not Forgotten
 
Basementgeek's Avatar
 
Join Date: Feb 2005
Location: Ohio, USA
Posts: 14,581
OS: XP Pro SP3/Vista Ultimate SP2/Win7 64 bit



Quote:
Originally Posted by Drew1369 View Post
One of the things I do is move money every pay cycle from my checking to my savings of what was left over from the last pay cycle... if it was $200 then that gets moved to savings, if it was $.39 then that gets moved to savings... I figured if I didn't spend it, I didn't need it...
Whatever works for you, as long as you are saving something every week.
It would not work for me or my wife. Most everything is paid by debit card and comes out our two checking accounts.

BG
__________________

ASAP member since 2006

Four boxes keep us free: the soap box, the ballot box, the jury box, and the cartridge box.

Basementgeek is offline  
Old 05-27-2016, 10:42 AM   #7
TSF Enthusiast
 
Join Date: Mar 2011
Posts: 2,024
OS: Win 7 Pro



$1000 isn't worth squat anymore either. If you think of it in 1980 terms it's only $325

Every time I go to a store it seems I drop $75-$100. Because a dollar certainly doesn't buy what it use to.
Leo G is offline  
Closed Thread

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is on
Smilies are on
[IMG] code is on
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Post a Question


» Site Navigation
 > FAQ
  > 10.0.0.2
Powered by vBadvanced CMPS v3.2.3


All times are GMT -7. The time now is 01:37 PM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
User Alert System provided by Advanced User Tagging v3.1.0 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
Copyright 2001 - 2018, Tech Support Forum

Windows 10 - Windows 7 - Windows XP - Windows Vista - Trojan Removal - Spyware Removal - Virus Removal - Networking - Security - Top Web Hosts