Half of Americans die with almost no money

[TheSilencer1313]

By Andrea Coombes

SAN FRANCISCO (MarketWatch)—Almost half of U.S. retirees die with savings of $10,000 or less, but that grim finding doesn’t fully describe the variability and uncertainty that characterize retirement in America, according to a recent study.

While some retirees struggle profoundly, living at or below the poverty line, others enjoy wealth and health—in fact, the two are strongly linked—while still others have little in savings but enjoy a decent income, according to the report, based on a survey that tracked retirees from 1993 through 2008.

Andrea Coombes is a personal-finance writer and editor in San Francisco.

I wonder why this would be??

Whole story:
https://www.marketwatch.com/story/half-of-americans-die-with-almost-no-money-2012-08-29

 

[Gameface]

9/11?

 

[Dr. Jones]

On my phone, but does the article suggest that those that 'do' have?

 

[TheSilencer1313]

9/11?

Nope.
Home brewing poker players.

 

[TheSilencer1313]

On my phone, but does the article suggest that those that 'do' have?

'Do' have what?

 

[franklin]

So?

Do you think this is any different that the last 100 years or so of history? You haven't given anything even slightly intriguing & better step up with a little more if you want to be taken seriously.

 

[TheSilencer1313]

So?

Do you think this is any different that the last 100 years or so of history? You haven't given anything even slightly intriguing & better step up with a little more if you want to be taken seriously.

https://www.econlib.org/library/Enc/GoldStandard.html

The article listed explains the history of the gold standard, if you aren't already aware of it's history. Which the Fed had slowly taken away after it's inception.
Inflation was nearly unheard of (except of course, in times of war) in America prior to 1913.

Of course we can look at the many quotes of the man you have pictured as your avatar, and see what he said about central type banks and there effect on the people.

https://en.m.wikiquote.org/wiki/Benjamin_Franklin#section_1

"They who can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety.
- Benjamin Franklin

- Applied to bills like the Patriot Act

Then there's my favorite by Thomas Jefferson, that describes what would happen in this event, and exactly what has happened because of it.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
- Thomas Jefferson

"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."
- Thomas Jefferson

The point is..... we've strayed so far from our founders ideals and the constitution, that between creating the federal reserve, not keeping government in check, and simply not caring at all.
That we now pay half (if not more) of all our earnings toward taxes.

https://www.nowandfutures.com/taxes.html

Pretty scary thought.
This page doesn't even take into account cell phone taxes/surcharges, internet taxes/surcharges, you name it surcharges/taxes, ect, ect....

And we wonder why this once prosperous nation has turned into a people that die (most likely) without even enough to pay for our final expenses.

 

[bigb]

So if a retiree dies with less than $10,000 in savings, doesn't that mean they planned it out about right? Isn't the goal to spend all your money before you die?

 

[Dr. Jones]

So if a retiree dies with less than $10,000 in savings, doesn't that mean they planned it out about right? Isn't the goal to spend all your money before you die?

Haha .. I have a biz partner who always says, "if I leave any money, at all, to my kids, it will only be by a slight miscalculation."

 

[northeast]

https://www.econlib.org/library/Enc/GoldStandard.html

The article listed explains the history of the gold standard, if you aren't already aware of it's history. Which the Fed had slowly taken away after it's inception.
Inflation was nearly unheard of (except of course, in times of war) in America prior to 1913.

Of course we can look at the many quotes of the man you have pictured as your avatar, and see what he said about central type banks and there effect on the people.

https://en.m.wikiquote.org/wiki/Benjamin_Franklin#section_1


- Applied to bills like the Patriot Act

Then there's my favorite by Thomas Jefferson, that describes what would happen in this event, and exactly what has happened because of it.





The point is..... we've strayed so far from our founders ideals and the constitution, that between creating the federal reserve, not keeping government in check, and simply not caring at all.
That we now pay half (if not more) of all our earnings toward taxes.

https://www.nowandfutures.com/taxes.html

Pretty scary thought.
This page doesn't even take into account cell phone taxes/surcharges, internet taxes/surcharges, you name it surcharges/taxes, ect, ect....

And we wonder why this once prosperous nation has turned into a people that die (most likely) without even enough to pay for our final expenses.

I support you, IF you can convince everybody to cut the budgets for police, homeland security, military, and education by 75%, THEN I will be right behind you.

 

[franklin]

blibblahblibblah

What the hell does that have to do with people dying broke?

People before 1913 worked until they died or went broke & then lived off their children or the state. Whatever you're trying to blame on the Federal Reserve isn't worth responding to.

 

[TheSilencer1313]

What the hell does that have to do with people dying broke?

People before 1913 worked until they died or went broke & then lived off their children or the state. Whatever you're trying to blame on the Federal Reserve isn't worth responding to.

Interesting response.
No.
Some may have lived off of there childrens work, but there childrens work was on the lands that they bought and paid for by them, and never had to worry about getting taken away because of not paying property taxes.

If you can't see that people are dying broke because of over taxation, over inflation, and the nanny state..... then you're DELUSIONAL!

 

[TheSilencer1313]

What the hell does that have to do with people dying broke?

People before 1913 worked until they died or went broke & then lived off their children or the state. Whatever you're trying to blame on the Federal Reserve isn't worth responding to.

Not to mention.... Social Security wasn't enacted until the 1930's, AFTER the Federal Reserve bankrupted the country.
Social problems were not needed, because the dollar was worth silver.
Fuel, food, and almost all expenses were pennies on the dollar, compared to today.
This is because the dollar is worth next to nothing today, because of over spending, over printing, and over using.

 

[franklin]

Interesting response.
No.
Some may have lived off of there childrens work, but there childrens work was on the lands that they bought and paid for by them, and never had to worry about getting taken away because of not paying property taxes.

If you can't see that people are dying broke because of over taxation, over inflation, and the nanny state..... then you're DELUSIONAL!

If it is this easy then why aren't people simply buying land & leasing it to their children in order to support themselves & pay the property taxes? Are your victims lazier than the older generations or something? Isn't that easier than bitching about the boogie man while consigning yourself to a state of despair & destitution?

This is because the dollar is worth next to nothing today, because of over spending, over printing, and over using.

The dollar is a medium of exchange. It's not supposed to be a government guaranteed store of value. You know you are free to barter in gold, don't you?

 

[TheSilencer1313]

What the hell does that have to do with people dying broke?

People before 1913 worked until they died or went broke & then lived off their children or the state. Whatever you're trying to blame on the Federal Reserve isn't worth responding to.

Not to mention.... Social Security wasn't enacted until the 1930's, AFTER the Federal Reserve bankrupted the country.
Social programs were not needed, because the dollar was worth silver.
Fuel, food, and almost all expenses were pennies on the dollar, compared to today.
This is because the dollar is worth next to nothing today, because of over spending, over printing, and over using.

 

[TheSilencer1313]

I support you, IF you can convince everybody to cut the budgets for police, homeland security, military, and education by 75%, THEN I will be right behind you.

Well I'm glad northeast and I can find some middle ground here.
How about this one?

The state pays for it's own police with properly apportioned state taxes, completely dissolve the DHS, EPA, and IRS.
Bring the troops home to defend this country and seal off it's borders.
This then cuts military spending in half at the very least.

You then have no need to cut education, you actually add to it because of all the money you have saved.
More citizens would have more money, and many more would start putting their children into private schools anyway.

 

[northeast]

You are eliminating my favorite agency even though it has a tiny budget, and not touching the big budgets in education, or police that need to be cut.
No deal.
I'll swap you highway spending for the EPA.
Not sure just bringing the troops home will make much of a dent by itself now in military

 

[TheSilencer1313]

If it is this easy then why aren't people simply buying land & leasing it to their children in order to support themselves & pay the property taxes? Are your victims lazier than the older generations or something? Isn't that easier than bitching about the boogie man while consigning yourself to a state of despair & destitution?

Well that's an easy one.
Because nobody has any money to buy anything anymore, and that includes land.
I won't join the laziness argument, because I believe if people had opportunity, they would take.
Isn't it easy to see that there's no opportunity left in this country outside of ground floor multi-level marketing, and winning the lottery?

The dollar is a medium of exchange. It's not supposed to be a government guaranteed store of value. You know you are free to barter in gold, don't you?

I think we all know the dollar is a medium of exchange.
And yes, under the constitution it is supposed to be a guaranteed store of value.
As it demands the government provide the people sound money.
Oh yeah, I would love to barter in gold at over "1600 bucks" an ounce.

 

[The Thriller]

the answer is to give more tax cuts to the rich

 

[nightmare3983]

So if a retiree dies with less than $10,000 in savings, doesn't that mean they planned it out about right? Isn't the goal to spend all your money before you die?

That was my first impression.