Nearly Half Of Americans Die Without Money, Study Finds

  • masculumpedes

    Posts: 5549

    Aug 08, 2012 9:00 AM GMT
    http://www.huffingtonpost.com/2012/08/06/americans-die-without-money_n_1746862.html
  • masculumpedes

    Posts: 5549

    Aug 08, 2012 11:46 AM GMT
    I guess with the economy the way it is, it can't be helped. icon_cry.gif
  • Lanter

    Posts: 149

    Aug 08, 2012 12:04 PM GMT
    The really sad thing is that there are probably more people living with no money. icon_sad.gif
  • masculumpedes

    Posts: 5549

    Aug 08, 2012 12:12 PM GMT
    Lanter saidThe really sad thing is that there are probably more people living with no money. icon_sad.gif


    How is it possible to live with "no money"? I have lived on very little before, but there always was something.
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    Aug 08, 2012 12:31 PM GMT
    A lot of people hold out until they get medicare.. and by then they have too many problems to make much of a difference.

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    Aug 08, 2012 2:26 PM GMT
    Willybear said
    How is it possible to live with "no money"? I have lived on very little before, but there always was something.


    Many people have just enough money to get by but then that is it. Many elderly live off social security or pensions.
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    Aug 08, 2012 2:52 PM GMT
    As 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

    Posts: 1155

    Aug 08, 2012 2:56 PM GMT
    Dying 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.
  • masculumpedes

    Posts: 5549

    Aug 08, 2012 2:56 PM GMT
    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.


    How could anyone spend $200k+ a year ? icon_eek.gif
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    Aug 08, 2012 3:00 PM GMT
    People 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.
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    Aug 08, 2012 3:10 PM GMT
    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.




    Sound financial planning! That is a joke . Talk to the folks that own bluechip stocks for retirement like General Motors and General
    Electric and now At 70 need to find a job.

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    Aug 08, 2012 3:13 PM GMT
    sigh..a miserable reality of life in America. icon_cry.gif
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    Aug 08, 2012 4:40 PM GMT
    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.



    At the last panel discussion I took part in, the governing party minister said "don't buy that extra case of beer each month."


    He will be reminded of that quote often in years to come - and I told him afterward I was sorry he said it, because I WILL use it as an example of the faulty assumptions that is driving their hubris.



    I meant it, too. He is a nice man, well intentioned, who has dedicated many years to public service - he just has no idea of the realities of life here - growing up in a very wealthy and very connected family.


    He was smart enough too to realize he have just made a HUGE gaffe.

    Although we are of different political persuasions, we share a commitment to civil politics. I do not take him by surprise, and he gives me the same consideration.

    I have that same direct contact with the PC leader here for the same reason (but more out of equal respect because the PCs do not represent as much political threat to our ascendancy. I owe more to The federal Liberal incumbent because next campaign I am working hard to elect our New Democrat.

    We have a mutual pact that family is to be strictly hands-off, and no advertising would cast aspersions on non-political players. It was NOT our children's choice that we ended up in politics, and eventually everyone is related somehow to someone else in a small province.
    rspect goes both ways.

    I do not try to make politics of their relatives, as long as they refrain from the "he's from Away" argument - (because that would open up discussion of why that is preferable for voters.)