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fruition posted:Only a week's worth of pay? Sheesh...relatively speaking that's not that big of a loss; most people spend that much money on Starbucks coffee in a year. I imagine that loss was probably the last of a long string of losses and the final straw. The story goes he had a partner and child, which probably makes a bad situation even worse. It's not like people wake up each morning and actively decide to let welfare look after them in their old age, it's more that people don't think about their long-term wellbeing and sort of assume they can carry on working forever. Even I have a hard time caring about my retirement, to the point where I was a bit slack about setting up a voluntary contribution. That said here in Australia not saving for retirement isn't quite as much of a problem as we have mandatory retirement savings in the form of superannuation. Currently 9.25% of your income has to be sent by your work into a special account you can't touch which is then invested. It's why our economy has don so well - because everyone of working ages in the past 20 years has been invested in Australia. FrozenVent posted:How are you going to be able to afford the plane ride once you turn 70? Put it on credit card, obviously.
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May 20, 2014 03:20
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I'm not gonna go back and quote everyone about the miscarriage thing, but my husband meant it in a "everything happens for a reason" way, not a "LOL you're too poor for a kid, so I'm so happy this happened!" kind of way. Plus his family has this really weird, tactless relationship where they just say whatever is on their mind, completely uncensored. In my family that would never fly. Make sense? fruition posted:I have an honest question: What do the people who are bad with money and don't save for their own retirements expect to happen when they become too old to work? Are they just banking 100% on social security? You always see retired seniors in front of the slot machines but I assume most of them are spending their pensions + social security, baby boomers and gen-Xer's won't have pensions to supplement so what the gently caress are they going to do? As for all the retirees who only have Social Security and nothing else--the smarter ones move somewhere cheap. In Nicaragua, Guatemala, or certain parts of Belize, you can live extremely well on $1,500/month, with cheaper everything including medical care. Me and my husband are considering becoming expats once he leaves the Army to try to get away from the rat race here. Added bonus: they're cash societies for the most part, so it's unlikely we'd ever have a lot of debt, if any at all, if we stayed there. I can keep working an online job and he'll have a VA disability pension, so that's how we'd be able to do it. EugeneJ posted:There's elderly now who scrape by on Social Security and food stamps. My FIL is in this position. He's been living on SSI for like a decade now. When my husband's mom died, my FIL fell in a deep depression that he never got out of, so he quit working and got on SSI. Meanwhile his house is falling into total disrepair and he was telling us how he needs a new roof and windows but has no money to do the repairs. His house is in a Detroit suburb that's pretty sketchy and the house is worth pretty much nothing, but he wanted to try and get a loan against the house to get the work done. My husband tried to tell him to move into subsidized housing, but then FIL started screaming about how he isn't going to move into the projects with a bunch of "n------". Welp.  I know this is the norm for so many people, but it's still mind blowing because of how my parents were. My dad wanted to be a millionaire even though he was a tradesman, so he moved to an upper middle class suburb to surround himself with high income earners. He and my mom did without stuff, diversified investments, and thankfully both had jobs with pensions. Right before people lost a lot of money in stocks (I don't remember what year that was--early 2000's maybe?) my dad had a hunch and pulled their money out of mutual funds so thankfully they didn't lose any of that money. They then started using real estate as their primary investment vehicle. My mom died suddenly two years ago, and my dad had retired not too long before that. He gets his pension, her pension, VA disability (he was awarded that from Vietnam not long before my mom died), and social security. He has a condo that has no mortgage that he rents out half the year as a winter home to some Canadians. The other house is paid off and he just bought a third condo for cash that he plans on renting out half the year as well, and also a brand new truck. Needless to say we don't have to worry about my dad feeding himself--he told me not long ago he's making about six figures as a retiree. He had pretty much the same background as my FIL--blue collar tradesman--it's just that the two made completely different choices about money, and my parents didn't let temporary setbacks become lifelong excuses. e: also, my dad has all the real estate, his truck, etc. in a will already and did a prepaid funeral since I'm an only child and he doesn't want me having to do too much or deal with probate when the time comes. I don't think my FIL even has a life insurance policy out or a will. I have no idea who is going to pay for his funeral. Hopefully not us. No one is going to have the money on my husband's side of the family, so I'm not looking forward to all that because I know we're going to be asked to contribute. Hip Hoptimus Prime fucked around with this message at 03:41 on May 20, 2014 |
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May 20, 2014 03:28
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Hip Hoptimus Prime posted:As for all the retirees who only have Social Security and nothing else--the smarter ones move somewhere cheap. In Nicaragua, Guatemala, or certain parts of Belize, you can live extremely well on $1,500/month, with cheaper everything including medical care. Me and my husband are considering becoming expats once he leaves the Army to try to get away from the rat race here. Added bonus: they're cash societies for the most part, so it's unlikely we'd ever have a lot of debt, if any at all, if we stayed there. I can keep working an online job and he'll have a VA disability pension, so that's how we'd be able to do it. Protip since you're a military family - keep any domestic property you share in your husband's name, and make sure he keeps up with his yearly Veterans Association dues. If he ends up in a VA assisted living home when he's older, the government won't harvest his assets to pay for the stay like a private nursing home would. This is what my grandfather plans to do.
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May 20, 2014 04:25
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RandomBlue posted:I told my wife that my retirement plan is skydiving without a parachute. She was not amused. Depending on your life insurance plan that'd be her retirement plan, too!
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May 20, 2014 05:16
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Hip Hoptimus Prime posted:As for all the retirees who only have Social Security and nothing else--the smarter ones move somewhere cheap. In Nicaragua, Guatemala, or certain parts of Belize, you can live extremely well on $1,500/month, with cheaper everything including medical care. Me and my husband are considering becoming expats once he leaves the Army to try to get away from the rat race here. Added bonus: they're cash societies for the most part, so it's unlikely we'd ever have a lot of debt, if any at all, if we stayed there. I can keep working an online job and he'll have a VA disability pension, so that's how we'd be able to do it. I wouldn't depend on that. You should probably save your money as if you'll need more than $1,500/month in retirement. You know where else seemed like a great place to retire? 1950s Cuba and 1990s Venezuela.
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May 20, 2014 05:29
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froglet posted:That said here in Australia not saving for retirement isn't quite as much of a problem as we have mandatory retirement savings in the form of superannuation. Currently 9.25% of your income has to be sent by your work into a special account you can't touch which is then invested. It's why our economy has don so well - because everyone of working ages in the past 20 years has been invested in Australia. Could have explained this a little more clearly: the employer's superannuation contribution is normally on top of your take-home salary (with the option for you to voluntarily contribute more), unless it's otherwise stated.
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May 20, 2014 09:37
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froglet posted:That said here in Australia not saving for retirement isn't quite as much of a problem as we have mandatory retirement savings in the form of superannuation. Currently 9.25% of your income has to be sent by your work into a special account you can't touch which is then invested. It's why our economy has don so well - because everyone of working ages in the past 20 years has been invested in Australia. Also the government co-contribution schemes which I think they should have pushed it a lot harder onto <25's while they're below that $45k upper income thresh hold, match their extra $500/year now while they're a low income worker and it'll be $10's of thousands by the time they retire, which would be saving the government plenty of money in pensions in 50 years time.
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May 20, 2014 09:56
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froglet posted:If you or somebody you know has a problem with gambling, get help. All the casino ads on the radio here end with "Problem gambling? Your best bet is getting help." which I think is a little insensitive.
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May 20, 2014 13:47
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Quebec's version is something like "A Game should Remain a Game", which makes a hell of a lot more sense in French. Speaking of gamblers and (potentially) bad with money, I was at the corner store yesterday, and a guy got to the cash at the same time I did. Since he didn't have anything in his hands, I figured he was buying smokes or paying for gas so I let him go ahead... Then he pulls a lottery form and asks the cashier to run it fifteen times.  He paid with a credit card too. Hundred something bucks worth of lottery tickets.
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May 20, 2014 13:54
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Wow gently caress you Aussies why did I have to be born in the U.S.? But seriously though, you have a perfect free healthcare system that doesnt abuse its nurses, your employers pay 10% On Top of your salary for your retirement, your minimum wage is like 50k/year, and your real estate keeps going up and up and up.. How is it all sustainable? e: And you have Kangaroos, Platypuses, and instead of mass shootings you have mass stabbings. Truly have it all. fruition fucked around with this message at 15:14 on May 20, 2014 |
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May 20, 2014 14:58
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fruition posted:How is it all sustainable? Not paying 700 billion a year for military is a good start.
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May 20, 2014 15:10
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Australia's not that different from the U.S. There are lots of racists, fat people, and Tony Abbott as PM.
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May 20, 2014 15:12
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Yeah Australia is pretty awesome. Kind of a tossup between Australia and Canada, really.
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May 20, 2014 15:27
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the housing bubbles in those countries will burst eventually, just wait and see
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May 20, 2014 15:34
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fruition posted:Wow gently caress you Aussies why did I have to be born in the U.S.? I believe China has been devouring everything they can produce for a while now.
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May 20, 2014 16:01
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canyoneer posted:I wouldn't depend on that. You should probably save your money as if you'll need more than $1,500/month in retirement. We actually put money in a Roth every month, plus I'll be inheriting my dad's properties which all have no mortgage, so there will also be multiple rental streams of income (minus taxes/maintenance--but with no mortgages there's still going to be quite a bit of profit there). I was just talking about people in the current scenario of only $1,500/month. We should have at least double that with my income and my husband's VA pension, and if we wind up moving to Belize as non-retired expats, we plan on living where we don't need a car and walking/biking everywhere instead. So, that's another $400/month that we can either save or invest since we won't have to insure, maintain, or fuel a vehicle.
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May 20, 2014 16:10
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Harry posted:I believe China has been devouring everything they can produce for a while now. Relying on China's economy staying strong and continuing to grow at its current rate isn't exactly a sustainable plan either.
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May 20, 2014 18:11
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froglet posted:It's why our economy has don so well - because everyone of working ages in the past 20 years has been invested in Australia. Either that, or, you know, a massive resource boom and a huge housing bubble.
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May 20, 2014 18:54
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Aren't general prices sky high in Australia as well, partially negating the nominally high wages and whatnot? Every other time I see an Australian visiting the US they comment on how everything is stupendously cheap. They rank pretty high in PPP per capita but below Canada, Norway, and the US, and generally are in the same ranks as major European nations.
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May 20, 2014 19:03
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LogisticEarth posted:Aren't general prices sky high in Australia as well, partially negating the nominally high wages and whatnot? Every other time I see an Australian visiting the US they comment on how everything is stupendously cheap. They rank pretty high in PPP per capita but below Canada, Norway, and the US, and generally are in the same ranks as major European nations. Yes. I went on vacation for three weeks in Sydney and even grocery shopping, using public transit, and doing free sight seeing, I was STUPID BROKE after week two because everything costs nearly twice what it does in California. Also, booze is like $40 a fifth. Edit: I should mention I would happily pay $40 a bottle for basic booze, the friend I stayed with made $15/hour minimum wage and lived a frugal but sustainable life and I wish that were the case here 
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May 20, 2014 19:23
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HelloIAmYourHeart posted:All the casino ads on the radio here end with "Problem gambling? Your best bet is getting help." which I think is a little insensitive. Many places require items that are considered "societal ills" and thus subject to excise taxes to include messages like that in their advertising. So casinos and lotteries will have Gamblers Anonymous messages, liquor companies remind you to "enjoy responsibly," etc. The casino doesn't really have a choice in it and let's face it, they probably don't actually want people to get help at all.
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May 20, 2014 20:37
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fruition posted:I have an honest question: What do the people who are bad with money and don't save for their own retirements expect to happen when they become too old to work? My dad is 76 and still runs his own business, an independent car dealership. His retirement plan is the business and its property and it's been for sale for about a decade. The commercial property is worth between $600k and $1M depending on the market and who you believe, and the business is worth pretty much its inventory and that's about it. His mechanic shop tanked because he's bad at managing personnel so there's no value there. The property isn't selling so he's renting the mechanic facility to another shop, and he's now trying to figure out a different business to convert his main building to, leaning towards mini storage. If successful, that would provide enough monthly income to live on and give him something to leave to us when he and mom pass on. Time will tell if the plan will work. At least he owns the business property outright and only has a HELOC on his house used to float the business during hard times. Not a plan I'd recommend to anyone. I've definitely learned a lot of what not to do in business from him. Unfortunately I have learned a lot of spending habits from him that I need to unlearn.
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May 20, 2014 20:45
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MAKE NO BABBYS posted:Many places require items that are considered "societal ills" and thus subject to excise taxes to include messages like that in their advertising. So casinos and lotteries will have Gamblers Anonymous messages, liquor companies remind you to "enjoy responsibly," etc. The casino doesn't really have a choice in it and let's face it, they probably don't actually want people to get help at all. I think its the word choice he was commenting on. It seems like an insensitive place to make a pun. Edit: VVV I couldn't give two shits honestly; I love puns and don't really care about the delicate feelings of gambling addicts. Delta-Wye fucked around with this message at 23:26 on May 20, 2014 |
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May 20, 2014 20:47
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I'd like to think I could laugh at that pun even if I were a gambling addict. More companies should do that. Live in tornado alley? Our insurance offerings will blow the roof off of the competition!
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May 20, 2014 20:50
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Oh huh, I didn't even catch that at first glance. Probably some marketing person thought it would be cute/thematic.
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May 20, 2014 20:50
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pancaek posted:Most of my junk mail is credit card applications that get tossed right into the shredder. From a couple pages ago, but: https://www.optoutprescreen.com/ Save a tree or two. Yes, its legit, I havent gotten a single credit card offer in the mail in years despite having excellent credit. Here's the FTC page on it: https://www.consumer.ftc.gov/articles/0148-prescreened-credit-and-insurance-offers
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May 20, 2014 22:24
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Nail Rat posted:Not paying 700 billion a year for military is a good start. 
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May 20, 2014 22:55
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varna posted:Harvard just released a study that estimates the total national cost of the iraq and afghanistan wars at between 4 and 5 trillion. That's a lot of money and incredibly depressing.
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May 20, 2014 23:45
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fruition posted:Wow gently caress you Aussies why did I have to be born in the U.S.? You might be getting in a bit late now, the current PM seems to be hell bent on getting rid alot of that stuff. To start there's now no 100% free healthcare, it's now a $7 co-payment to see a doctor, luckily it's not going down well with the general population.
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May 21, 2014 00:10
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Rudager posted:You might be getting in a bit late now, the current PM seems to be hell bent on getting rid alot of that stuff. To start there's now no 100% free healthcare, it's now a $7 co-payment to see a doctor, luckily it's not going down well with the general population. They should have called it the boat-stopping fee, it would have gone down a lot better.
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May 21, 2014 00:13
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dreesemonkey posted:That's a lot of money and incredibly depressing. Don't look into how much we pay for interest on the federal debt, and unlike Iraq and Afghanistan that's not going away.
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May 21, 2014 00:20
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LogisticEarth posted:Don't look into how much we pay for interest on the federal debt, and unlike Iraq and Afghanistan that's not going away. Well speaking of governments bad with money and the new Australian budget, you guys should get yourselves a debt levy on the rich like we are, don't forget to leave a comically huge loophole in it for them to exploit though.
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May 21, 2014 00:26
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Rudager posted:You might be getting in a bit late now, the current PM seems to be hell bent on getting rid alot of that stuff. To start there's now no 100% free healthcare, it's now a $7 co-payment to see a doctor, luckily it's not going down well with the general population. I remember reading a couple reports about Canada some years back concluding that having a non-zero cost, however negligible, is ultimately better for the health system because a system that advertises itself as free leads to bloat and waste. It apparently causes individuals to do some self-triage and realize that they really don't need to visit an ER for every sniffle if there's an up-front cost, even if its refunded. Or so I've heard. Anybody else hear this, or is it just a bullshit talking point?
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May 21, 2014 00:32
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Guest2553 posted:I remember reading a couple reports about Canada some years back concluding that having a non-zero cost, however negligible, is ultimately better for the health system because a system that advertises itself as free leads to bloat and waste. It apparently causes individuals to do some self-triage and realize that they really don't need to visit an ER for every sniffle if there's an up-front cost, even if its refunded. Makes perfect sense, I've also heard many doctors endorse that theory
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May 21, 2014 00:56
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Guest2553 posted:I remember reading a couple reports about Canada some years back concluding that having a non-zero cost, however negligible, is ultimately better for the health system because a system that advertises itself as free leads to bloat and waste. It apparently causes individuals to do some self-triage and realize that they really don't need to visit an ER for every sniffle if there's an up-front cost, even if its refunded. Makes sense to me. The $7 co-pay thing is to help fund medical research, and caps at $70 for the year. Australia's not without its problems, but I feel pretty good about moving there. Of course, if it doesn't work out, I'll post myself in this thread for having spent $30k on a Master's (+ probably another 30k in living expenses) with nothing to show for it
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May 21, 2014 01:30
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varna posted:Harvard just released a study that estimates the total national cost of the iraq and afghanistan wars at between 4 and 5 trillion. LogisticEarth posted:Don't look into how much we pay for interest on the federal debt, and unlike Iraq and Afghanistan that's not going away.
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May 21, 2014 01:30
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Pompous Rhombus posted:Makes sense to me. The $7 co-pay thing is to help fund medical research, and caps at $70 for the year. The general opinion is that it's a slippery slope; once you got it going at $7, it's pretty easy to hike it to $8 to cover for infrastructure improvement, then... Plus UHS is the result of a societal choice to have, you know, free healthcare. $7 isn't free.
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May 21, 2014 01:33
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I also don't see how it is going to do anything other than push poor people away from their GP and towards emergency services instead. Well thought out Abbott.
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May 21, 2014 02:02
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Pompous Rhombus posted:Makes sense to me. The $7 co-pay thing is to help fund medical research, and caps at $70 for the year. It only caps if you are a senior or a kid, that I am aware of. Lifestyle and climate certainly make up for a lot of Australia's shortcomings. Where in the country will you be living?
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May 21, 2014 02:04
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fiery_valkyrie posted:It only caps if you are a senior or a kid, that I am aware of. Tasmania for school (only place where I can get the "regional Australia" points bonus, that also offers a scholarship for international students), not sure about afterwards. I've never even beeen to the East Coast before (studied in Perth for a year when I was in uni), but Australians trip all over themselves to talk about how lovely Tassie is, before they add that they couldn't deal with the cold. Granted I'm from a warmer climate myself, but it's about the same, maybe even a little warmer than the part of Japan I've been living in the last three years. Maybe on par with southern Georgia in the US or something. Ya'll are weird  On the "bad with money" front, I am kind of concerned about being able to find (or even have, given study/unpaid internship commitments) a part-time job to help defray the cost of living. Tasmania's supposed to have the highest unemployment in the country, right? Pompous Rhombus fucked around with this message at 02:16 on May 21, 2014 |
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May 21, 2014 02:12
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