We Have No Bananas Today

[abbey1227]

Oct 24, 2022 21:31:38 GMT merh said:

Oct 24, 2022 19:23:34 GMT abbey1227 said:

It's happened with me. I can't be alone in noticing the typical cost per person went up from about $8 to $12-15 or more now?

Possessive? More so than others? Don't you have a large collection of anime? You'd be OK with the theft of it all? How about catnappings?

You gave up on movies.

I didn't.

I also still go out.

Have you given up fast food yet?

Possessive of the price you pay for stuff when it is only natural things go up in time.

Times change

I gave up on theaters, not movies.

I'm going less and less as the prices go up. Kwik Trip is a big replacement for me lately.

Don't be so possessive when the cost of housing, education, healthcare and insurance go up then. Just embrace it as progress. 

[abbey1227]

Oct 24, 2022 21:34:16 GMT merh said:

Oct 24, 2022 19:25:58 GMT abbey1227 said:

Labor creates all wealth? Kinda ignores the miracle of Compound Interest and the passage of time.

EVERY day is labor day? Cuz so many people work 7 days a week?   I've only put in 4 days a week for years

Yet you bitch about other people not wanting to work

You're missing the point entirely. Don't work if you don't want to.

But don't expect others to work, have taxes taken out and then given to you in the form of welfare.

[merh]

Oct 24, 2022 21:41:44 GMT abbey1227 said:

Oct 24, 2022 21:34:16 GMT merh said:

Yet you bitch about other people not wanting to work

You're missing the point entirely. Don't work if you don't want to.

But don't expect others to work, have taxes taken out and then given to you in the form of welfare.

How Many People Are on Welfare in 2022?
Published: 13th July 2022, 13:20

Have you ever wondered, “How many people are on welfare?” A valuable resource for those with limited income, welfare helps countless people survive throughout America. But how exactly is the welfare situation evolving?

Welfare numbers change regularly in today’s evolving economy. However, some useful insights are available into the percentage of people leveraging this support. Read on to learn more about the welfare situation in the United States.

How Many People Are on Welfare in the United States?
According to the Social Security Administration, the number of people on welfare in 2021 was around 65 million. The report notes that nearly 9 out of 10 people aged 65 and older were receiving some form of social security benefit at the end of 2020.

Additionally, when considering the demographics of Americans on welfare, the report suggests that 12% of men and 15% of women receive 90% of their income from social security.

But we pay into Social Security.
How is that considered welfare?

In a review of the states with the most welfare recipients claiming SNAP support, the World Population Review found California had the highest number of welfare recipients (3,789,000). Texas followed closely behind with 3,406,000 SNAP recipients, followed by Florida with 2,847,000, and New York with 2,661,000.

In Wyoming and Utah, only 5% of the state residents are recipients of SNAP, the lowest percentage in the United States.

Retired workers and dependents account for 75.2% of the benefits paid in 2020.
(SSA)

There are a total of six different benefits or welfare payments available to US citizens as of 2022. According to the Social Security Administration, the largest percentage of the American population on welfare are retirees and their dependents (75.2%). They receive an average monthly benefit of around $1,555 per person.

Disabled workers and their dependents accounted for only 13.1% of the benefits paid in 2020, receiving an average welfare check per month of $1,280.

 So if we remove 75% of the recipients as getting social security they paid into, it leaves 16,250,000 on welfare out of 350 million Americans,  right?

So half of 1%? (My math sucks)

[abbey1227]

Oct 24, 2022 22:30:27 GMT merh said:

Oct 24, 2022 21:41:44 GMT abbey1227 said:

You're missing the point entirely. Don't work if you don't want to.

But don't expect others to work, have taxes taken out and then given to you in the form of welfare.

How Many People Are on Welfare in 2022?

How Many People Are on Welfare in the United States?
According to the Social Security Administration, the number of people on welfare in 2021 was around 65 million. The report notes that nearly 9 out of 10 people aged 65 and older were receiving some form of social security benefit at the end of 2020.

Additionally, when considering the demographics of Americans on welfare, the report suggests that 12% of men and 15% of women receive 90% of their income from social security.

But we pay into Social Security.
How is that considered welfare?

In a review of the states with the most welfare recipients claiming SNAP support, the World Population Review found California had the highest number of welfare recipients (3,789,000). Texas followed closely behind with 3,406,000 SNAP recipients, followed by Florida with 2,847,000, and New York with 2,661,000.

In Wyoming and Utah, only 5% of the state residents are recipients of SNAP, the lowest percentage in the United States.

Retired workers and dependents account for 75.2% of the benefits paid in 2020.
(SSA)

There are a total of six different benefits or welfare payments available to US citizens as of 2022. According to the Social Security Administration, the largest percentage of the American population on welfare are retirees and their dependents (75.2%). They receive an average monthly benefit of around $1,555 per person.

Disabled workers and their dependents accounted for only 13.1% of the benefits paid in 2020, receiving an average welfare check per month of $1,280.

 So if we remove 75% of the recipients as getting social security they paid into, it leaves 16,250,000 on welfare out of 350 million Americans,  right?

So half of 1%? (My math sucks)

IIRC, SS is handed out to more than just retirees that paid in. They've expanded it's role.......which has harmed it's sustainability.

I'll also point out the typical person paying in may have come away with a lot more $Money if they'd simply invested the same amount of funds they paid into SS. And they wouldn't even need to beg for it in their old age.

SS is just one form of welfare. Especially in regards to women and children, it's a very long list of handouts being offered these days

[merh]

Oct 25, 2022 11:51:21 GMT abbey1227 said:

Oct 24, 2022 22:30:27 GMT merh said:

But we pay into Social Security.
How is that considered welfare?

 So if we remove 75% of the recipients as getting social security they paid into, it leaves 16,250,000 on welfare out of 350 million Americans,  right?

So half of 1%? (My math sucks)

IIRC, SS is handed out to more than just retirees that paid in. They've expanded it's role.......which has harmed it's sustainability.

I'll also point out the typical person paying in may have come away with a lot more $Money if they'd simply invested the same amount of funds they paid into SS. And they wouldn't even need to beg for it in their old age.

SS is just one form of welfare. Especially in regards to women and children, it's a very long list of handouts being offered these days

Like in 2009?
All those people were screwed when they went to retire.

Now?
I won't even look at my 401. 
Maybe in a couple years
But if that was my sole income right now?
I'd be screwed

[abbey1227]

Oct 25, 2022 15:39:32 GMT merh said:

Oct 25, 2022 11:51:21 GMT abbey1227 said:

IIRC, SS is handed out to more than just retirees that paid in. They've expanded it's role.......which has harmed it's sustainability.

I'll also point out the typical person paying in may have come away with a lot more $Money if they'd simply invested the same amount of funds they paid into SS. And they wouldn't even need to beg for it in their old age.

SS is just one form of welfare. Especially in regards to women and children, it's a very long list of handouts being offered these days

Like in 2009?
All those people were screwed when they went to retire.

Now?
I won't even look at my 401. 
Maybe in a couple years
But if that was my sole income right now?
I'd be screwed

You wanna discuss what the root of the problem is with investing?     I'm sure we'll disagree

Though, I do want you to consider what the amount of taxes you've had taken out of your pay for all these years would have added up to after all this time. It likely would have been much more in your own account rather than relying on SS to provide you with funds now.

[merh]

Oct 25, 2022 20:44:40 GMT abbey1227 said:

Oct 25, 2022 15:39:32 GMT merh said:

Like in 2009?
All those people were screwed when they went to retire.

Now?
I won't even look at my 401. 
Maybe in a couple years
But if that was my sole income right now?
I'd be screwed

You wanna discuss what the root of the problem is with investing?     I'm sure we'll disagree

Though, I do want you to consider what the amount of taxes you've had taken out of your pay for all these years would have added up to after all this time. It likely would have been much more in your own account rather than relying on SS to provide you with funds now.

Dude.
Have you created your account at social security yet?

In 2020 it stated

For Social Security
Paid by you:
$64,573
Paid by your employers:
$66,242

For Medicare
Paid by you:
$15,504
Paid by your employers:
$15,504

$130,815
If I manage to live 25 yrs as I hope that's $5,232.6 ANNUALLY.  
$436.05/month.

Retirement

You have earned enough credits to qualify for retirement benefits. At your current earnings rate, your estimated payment would be:

Estimated Benefit at Full
Retirement age (67):
$1,873 a month

At age 70:
$2,322 a month

At early retirement age (62):
$1,319 a month

$1870x12=$22,440x25=$561,000

Can you guarantee I would have the discipline to put that money away every month when we all have thin times that tempt us to dip in?

Can you guarantee my investments would grow sufficiently & not get wiped by market crashes?
That I won't listen to some smooth talker & invest in crypto or some such

Sad story.
We had very cheap life insurance from when I worked at Montgomery ward.
My dear husband listened to one of those slick talkers & my 28 year old ass didn't really understand the difference between whole life & term.
Yeah, we switched.
If only we had kept those whole life policies...remember my husband was dead in less than 15 yrs.
But that is pointless, isn't it?
Live & learn, right?

[abbey1227]

Oct 26, 2022 14:53:47 GMT merh said:

Oct 25, 2022 20:44:40 GMT abbey1227 said:

You wanna discuss what the root of the problem is with investing?     I'm sure we'll disagree

Though, I do want you to consider what the amount of taxes you've had taken out of your pay for all these years would have added up to after all this time. It likely would have been much more in your own account rather than relying on SS to provide you with funds now.

Dude.
Have you created your account at social security yet?

In 2020 it stated    $1870x12=$22,440x25=$561,000

Can you guarantee I would have the discipline to put that money away every month when we all have thin times that tempt us to dip in?

Can you guarantee my investments would grow sufficiently & not get wiped by market crashes?
That I won't listen to some smooth talker & invest in crypto or some such

Sad story.
We had very cheap life insurance from when I worked at Montgomery ward.
My dear husband listened to one of those slick talkers & my 28 year old ass didn't really understand the difference between whole life & term.
Yeah, we switched.
If only we had kept those whole life policies...remember my husband was dead in less than 15 yrs.
But that is pointless, isn't it?
Live & learn, right?

Yep, I'm aware of what I'll be getting. And I'll be fine (provided Inflation doesn't remain at Biden levels.)

That's the whole point of long term investing, patience and discipline. You don't trust yourself.

The Market's return has been amazingly good for decades. Yes, there are dips that may have kept you in the market for longer to get back up, but still......compared to the amount the Govt offers? And you wouldn't have to beg for it?

I'm confused. You wish you had stuck with Whole Life? That's a known scam form of insurance. Term is plain and simple insurance that pays you when the bad thing happens. No added savings/retirement account. Dave Ramsey has spoken about it for years.

Well, we all mostly live........the learning part? 

[merh]

Oct 26, 2022 22:26:11 GMT abbey1227 said:

Oct 26, 2022 14:53:47 GMT merh said:

Dude.
Have you created your account at social security yet?

In 2020 it stated    $1870x12=$22,440x25=$561,000

Can you guarantee I would have the discipline to put that money away every month when we all have thin times that tempt us to dip in?

Can you guarantee my investments would grow sufficiently & not get wiped by market crashes?
That I won't listen to some smooth talker & invest in crypto or some such

Sad story.
We had very cheap life insurance from when I worked at Montgomery ward.
My dear husband listened to one of those slick talkers & my 28 year old ass didn't really understand the difference between whole life & term.
Yeah, we switched.
If only we had kept those whole life policies...remember my husband was dead in less than 15 yrs.
But that is pointless, isn't it?
Live & learn, right?

Yep, I'm aware of what I'll be getting. And I'll be fine (provided Inflation doesn't remain at Biden levels.)

That's the whole point of long term investing, patience and discipline. You don't trust yourself.

The Market's return has been amazingly good for decades. Yes, there are dips that may have kept you in the market for longer to get back up, but still......compared to the amount the Govt offers? And you wouldn't have to beg for it?

I'm confused. You wish you had stuck with Whole Life? That's a known scam form of insurance. Term is plain and simple insurance that pays you when the bad thing happens. No added savings/retirement account. Dave Ramsey has spoken about it for years.

Well, we all mostly live........the learning part? 

If I had stuck with what I had, I would have had life insurance on my husband when he died. Because we were around 25 & I was an employee, I got an excellent employee rate.

So yeah, 
Would have been better sticking with whole life 

[abbey1227]

Oct 27, 2022 0:15:53 GMT merh said:

If I had stuck with what I had, I would have had life insurance on my husband when he died. Because we were around 25 & I was an employee, I got an excellent employee rate.

So yeah, 
Would have been better sticking with whole life 

I thought you stated you traded one kind of policy for another? You skipped picking a 2nd one up?

Agreed, something would have been better than nothing

[merh]

Oct 27, 2022 11:44:57 GMT abbey1227 said:

Oct 27, 2022 0:15:53 GMT merh said:

If I had stuck with what I had, I would have had life insurance on my husband when he died. Because we were around 25 & I was an employee, I got an excellent employee rate.

So yeah, 
Would have been better sticking with whole life 

I thought you stated you traded one kind of policy for another? You skipped picking a 2nd one up?

Agreed, something would have been better than nothing

I have stated it took Iike 9 months. In that time we managed to miss payments. I tried to kick it back up but they said nope. Done. Bye. Got your money.

Whole life would have paid out of what I paid in, wouldn't it have?
So it wouldn't have lapsed.

So no.
I have a bad taste on term life.

[merh]

(Newser) – On the heels of stories about "quiet quitting"—a workplace trend in which employees are doing the bare minimum to keep their jobs—comes hand-wringing over one man's very opposite work mindset. It's that of the CEO of India's Bombay Shaving Company, who took to social media this week to opine on how much he thinks young employees should put into their careers. Turns out Shantanu Deshpande expects quite a lot from newbies, according to his Tuesday LinkedIn post, where he advises them to "throw yourself into" the job, to the tune of "18 hour days for at least 4-5 years."

"Worship your work," he writes. "Don't do random rona-dhona [crying]. Take it on the chin and be relentless." As for that much-coveted work-life balance, Deshpande notes that's something that is indeed important, "but not that early." The Hindustan Times reports on the instant backlash to his remarks, with detractors slamming Deshpande for promoting a "toxic work culture." "Would rather prefer working on my own start up for 18 hours everyday, than working for you," one person commented under Deshpande's LinkedIn post. "Are you seriously out of your mind," another posted. "This is not a good mindset."

The BBC notes that although India has strong labor laws, employees are sometimes pressured by higher-ups to put in more time on the clock. In 2020, LinkedIn's Workforce Confidence Index found that 2 in 5 working professionals in India reported feeling anxious and stressed out. Whether or not Deshpande's mind has changed on his work ethic advice isn't clear, but he did acknowledge the criticism in an update to his post. "Yikes. So much hate for 18 hour days," he wrote, adding his suggestion was simply "a proxy for 'giving your all and then some.'"

[abbey1227]

Oct 27, 2022 20:25:07 GMT merh said:

I have stated it took Iike 9 months. In that time we managed to miss payments. I tried to kick it back up but they said nope. Done. Bye. Got your money.

Whole life would have paid out of what I paid in, wouldn't it have?
So it wouldn't have lapsed.

So no.
I have a bad taste on term life.

So who is to say you wouldn't have missed payments with the other policy? and been discontinued?

Sorry, I'm just gonna disagree as people like Dave Ramsey and several others have told me for years that Whole Life is a scam.

Term life is designed to be the simplest and least expensive policy. No extras, no add-ons.

[merh]

Oct 28, 2022 1:38:56 GMT abbey1227 said:

Oct 27, 2022 20:25:07 GMT merh said:

I have stated it took Iike 9 months. In that time we managed to miss payments. I tried to kick it back up but they said nope. Done. Bye. Got your money.

Whole life would have paid out of what I paid in, wouldn't it have?
So it wouldn't have lapsed.

So no.
I have a bad taste on term life.

So who is to say you wouldn't have missed payments with the other policy? and been discontinued?

Sorry, I'm just gonna disagree as people like Dave Ramsey and several others have told me for years that Whole Life is a scam.

Term life is designed to be the simplest and least expensive policy. No extras, no add-ons.

Because I know I had a Gerber policy on my kid & when I was late they warned me to pay or the premium would be deducted from the main value WHICH IS WHY THAT POLICY DIDNT LAPSE. 

So, yeah.
Dave Ramsey is wrong.

Whole Life builds value.
My kid took the value out as a loan, didn't pay it back & THEN it was canceled.

[abbey1227]

Oct 28, 2022 4:38:35 GMT merh said:

Because I know I had a Gerber policy on my kid & when I was late they warned me to pay or the premium would be deducted from the main value WHICH IS WHY THAT POLICY DIDNT LAPSE. 

So, yeah.
Dave Ramsey is wrong.

Whole Life builds value.
My kid took the value out as a loan, didn't pay it back & THEN it was canceled.

I don't wanna argue with you too much on this subject...... but you really should delve into it further.

The REASON while life policies build value and have cash for you at some point in the future.........is because they're selling you an expensive form of investment. They've got profit margins built in.

THAT's why Ramsey and others state you should have 2 separate things. Term insurance policies to protect your family from injuries and/or death. And then investments to grow your own wealth, which you would have control over the entire time, rather than being at the mercy of whoever sold you that whole life policy. Your money goes farther keeping them separate.

TOO FUNNY

www.thinkadvisor.com/2015/08/31/dave-ramseys-unjust-war-on-whole-life-insurance/

I go looking for Dave's comments on whole life and the first several links are explaining WHY he's wrong? Tell me Google isn't playing the same games they play with politics

www.ramseysolutions.com/insurance/whole-life-insurance

[merh]

Oct 28, 2022 12:23:25 GMT abbey1227 said:

Oct 28, 2022 4:38:35 GMT merh said:

Because I know I had a Gerber policy on my kid & when I was late they warned me to pay or the premium would be deducted from the main value WHICH IS WHY THAT POLICY DIDNT LAPSE. 

So, yeah.
Dave Ramsey is wrong.

Whole Life builds value.
My kid took the value out as a loan, didn't pay it back & THEN it was canceled.

I don't wanna argue with you too much on this subject...... but you really should delve into it further.

The REASON while life policies build value and have cash for you at some point in the future.........is because they're selling you an expensive form of investment. They've got profit margins built in.

THAT's why Ramsey and others state you should have 2 separate things. Term insurance policies to protect your family from injuries and/or death. And then investments to grow your own wealth, which you would have control over the entire time, rather than being at the mercy of whoever sold you that whole life policy. Your money goes farther keeping them separate.

TOO FUNNY

www.thinkadvisor.com/2015/08/31/dave-ramseys-unjust-war-on-whole-life-insurance/

I go looking for Dave's comments on whole life and the first several links are explaining WHY he's wrong? Tell me Google isn't playing the same games they play with politics

www.ramseysolutions.com/insurance/whole-life-insurance

HE is an investor.
He can do all that.

Most of us live lives & don't study the market like they do.


My kid is envious of my pension.
I think the only option would be for the kid to buy an annuity. 

[merh]

[abbey1227]

Oct 28, 2022 17:35:21 GMT merh said:

HE is an investor.
He can do all that.

Most of us live lives & don't study the market like they do.

My kid is envious of my pension.
I think the only option would be for the kid to buy an annuity.

Understood............but IIRC, over 1/2 Americans are invested in the market thru their retirement accounts/money markets. They have professionals managing these for them.

I'm not a fan of Ramsey's religious chit-chat..........but I'm sure he has wonderful advice for someone in their 20s to start saving/investing for an early retirement. They key is to start as early as possible so that Compound Interest really becomes your friend.

[merh]

Oct 29, 2022 1:35:45 GMT abbey1227 said:

Oct 28, 2022 17:35:21 GMT merh said:

HE is an investor.
He can do all that.

Most of us live lives & don't study the market like they do.

My kid is envious of my pension.
I think the only option would be for the kid to buy an annuity.

Understood............but IIRC, over 1/2 Americans are invested in the market thru their retirement accounts/money markets. They have professionals managing these for them.

I'm not a fan of Ramsey's religious chit-chat..........but I'm sure he has wonderful advice for someone in their 20s to start saving/investing for an early retirement. They key is to start as early as possible so that Compound Interest really becomes your friend.

I know you hate him, but John Oliver had a good segment on the difference between the average accountant advising people & a fiduciary handling the account.

Again, something a lot of people don't realize

[abbey1227]

Oct 29, 2022 9:48:16 GMT merh said:

Oct 29, 2022 1:35:45 GMT abbey1227 said:

Understood............but IIRC, over 1/2 Americans are invested in the market thru their retirement accounts/money markets. They have professionals managing these for them.

I'm not a fan of Ramsey's religious chit-chat..........but I'm sure he has wonderful advice for someone in their 20s to start saving/investing for an early retirement. They key is to start as early as possible so that Compound Interest really becomes your friend.

I know you hate him, but John Oliver had a good segment on the difference between the average accountant advising people & a fiduciary handling the account.

Again, something a lot of people don't realize

Exactly. You don't have to be an expert yourself, but you should know enough to expect a certain return on a yearly basis

I also don't think it's a coincidence that when people like Barrack or Joe get into office, the stock market reacts the way it does.