Aug 08, 2012 9:00 AM GMT
Lanter saidThe really sad thing is that there are probably more people living with no money.
How is it possible to live with "no money"? I have lived on very little before, but there always was something.
swimguychicago saidAs a financial planner I can tell you that often it's people's own fault. I can't tell you how many people come to me with $200k+ incomes and almost NO money.
DanOmatic saidDying with no money isn't really the issue--you can't take it with you, after all. But yeah, trying to live without money--especially as an elderly person--would really suck.
Sometimes life happens in unexpected ways that can undo any sort of sound financial planning. But most people do stupid things with their money when they have it. And then there's the way the medical system works here that drains elderly people of their savings while perhaps prolonging their lives, but not necessarily their quality of life.
wrestlervic saidPeople spend proportionately on how much they make sometimes. So whether it's $200,000 or $20,000.
The $200,000 person would buy a house, nice car, and travel.
The $20,000 would rent, share a room, and see a movie now and then.
Oh. And ask a $20,000 how you expect them to save for retirement when they are scraping by.