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Nail Rat posted:I didn't notice that tab before. It's interesting how this breaks out, because while my net worth is only 43k, my retirement savings is 39k (thanks condo!) which puts me at 93% for my age group. That feels pretty good to see (but then again, pretty scary too). The tab I linked on facebook was the last tab which is the list of jobs with a probability of being replaced by automation. That list is an interesting read but not related to bad with money (unless your job ceases to exist). e: with retirement savings so low I can see why so many people in the US panick in their 50s when they realise they'll be eating dog food for retirement if they don't take action.
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Feb 10, 2015 22:40
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Most of my Boomer coworkers boast of having very little retirement savings because 'we have a pension!'. Which they do, although it's fairly moderate. However, they then go and hassle/'encourage' me and the few other younger workers to not bother with our Roths/403b because "oh you'll get the pension, you should just work on buying a house". I wish that was not an actual quote. Guys, the pension fund lost 20% last year and you all are going to retire and kill it in 20 years. I'm going to do my own thing. Long story short if a lot of people my age (late 20s-early 30s) are getting similar advice from people who know they know best and foolishly trusting it from then that might have something to do with it.
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Feb 10, 2015 22:49
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Taco Box posted:Last night I made a quart of 'green sauce' that I've been developing the recipe for for weeks now. I'll post it to GWS when I've perfected it. But think of it as the green, but not tomatillo salsa at a mexican restaurant (cilantro, lime, avocado). I made a whole quart for something like $2 of produce and like 30 minutes of my time. Now all I need is a bag of chips and I can get fat as gently caress for pennies on the dollar. *warning* it's chock full of cilantro so if that tastes like soap to you, you can't play. link please
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Feb 10, 2015 22:53
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peter banana posted:link please When I finish writing it I'll post it here
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Feb 10, 2015 22:58
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Disco Salmon posted:I saw this and went whaaaaaaaaaaaa? (at the bit Cel quoted not at his post!!) Not to give that guy too much credit, but cooking for one kinda sucks. Most ingredients, recipes, and cookware are sized assuming four servings and eating leftovers over and over can get tiring.
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Feb 10, 2015 23:12
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BadSamaritan posted:Most of my Boomer coworkers boast of having very little retirement savings because 'we have a pension!'. Which they do, although it's fairly moderate. This falls under the category of people talking about and only caring about their situation and perspective. Baby boomer advice has always been terrible. In New Zealand most of them only went to high school for 2-3 years at the most because of the excess of jobs available. Poor education crossed with all the capital gains in the 60s and 70s they are in a different situation. They also got into housing when it was actually cheap. The pension fund sounds terrible. They don't care that they're going suck the pension fund dry the inconsiderate fucks. Not only are they giving advice to their younger victims but they do go on about starting with nothing and going without to save money. The saving money part seems to be accurate but they don't realise that everyone with a student loan is starting out with less than nothing. They think the student loans are bad but they don't see how it affects people's finances.  My boomer parents told me to become an accountant. I'm glad I didn't follow that advice.
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Feb 10, 2015 23:17
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Devian666 posted:Here's the net worth percentile rank calculator. You can enter your age in both boxes and your net worth to discover that you are bad with money. I don't live in the US and recent devaluation of the local currency versus the US has diminished my rank but at least I'm well past 50%. I was pretty sad to see I was 66th percentile for my age since I felt I was saving pretty hard the last few years. Then I read the data is household net worth, not individual. So I estimate I'm probably in the 75th percentile, which is better but still not great. I want to be in the 90th percentile by the time I'm 40.
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Feb 10, 2015 23:23
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Powerlurker posted:Not to give that guy too much credit, but cooking for one kinda sucks. Most ingredients, recipes, and cookware are sized assuming four servings and eating leftovers over and over can get tiring. Cook for a day, freeze. Easy reheatable meals w/low prep time. I cooked for one for a good while before I got married....its not that difficult.
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Feb 11, 2015 00:20
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Mantle posted:I was pretty sad to see I was 66th percentile for my age since I felt I was saving pretty hard the last few years. Then I read the data is household net worth, not individual. So I estimate I'm probably in the 75th percentile, which is better but still not great. I want to be in the 90th percentile by the time I'm 40. Dude I'm in the 69th percentile at age 40 and I put in 37000 cos I couldn't be bothered to look up how much is in my federal pension. Yes I'm addressing this paltry amount. 37000 is better than almost 70% of 40 year olds, loving hell.  edit: that's RETIREMENT SAVINGS
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Feb 11, 2015 00:22
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greazeball posted:Dude I'm in the 69th percentile at age 40 and I put in 37000 cos I couldn't be bothered to look up how much is in my federal pension. Yes I'm addressing this paltry amount. I think this is a sad state of affairs. It also explains the articles that keep coming up with people working while retired. Most are probably ending up with only enough to maintain their lifestyle for a few years. I chucked some numbers in and 50th percentile for 65 year olds is somewhere in the $250k to $300k region. That's not going to be much of a lifestyle with the recommended figure of allowing for 30 years of retirement. Possibly one third or less than what is needed for 50% of the population.
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Feb 11, 2015 00:31
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(oops post)
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Feb 11, 2015 00:47
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It's funny you guys brought up vitamins, because the New York Attorney General and the FDA found supplements at major US retailers don't actually have any of the advertised ingredients:quote:The authorities said they had conducted tests on top-selling store brands of herbal supplements at four national retailers — GNC, Target, Walgreens and Walmart — and found that four out of five of the products did not contain any of the herbs on their labels. The tests showed that pills labeled medicinal herbs often contained little more than cheap fillers like powdered rice, asparagus and houseplants, and in some cases substances that could be dangerous to those with allergies. quote:Among the attorney general’s findings was a popular store brand of ginseng pills at Walgreens, promoted for “physical endurance and vitality,” that contained only powdered garlic and rice. At Walmart, the authorities found that its ginkgo biloba, a Chinese plant promoted as a memory enhancer, contained little more than powdered radish, houseplants and wheat — despite a claim on the label that the product was wheat- and gluten-free.
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Feb 11, 2015 01:02
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Worked home office sales at best buy during the time when they offered FREE* computers. The scam was that in order to get a $300 dollar e-machine for free or a slightly better one for only* $100, the customer had to sign up for 2 or 3 years of I think AOL or some other lovely dialup isp, riiight around the time broadband was available in upper middle class cities. The monthly fee was pretty high for dialup if i recall right. Getting out of the contract required paying some insane fee. These FREE* systems sold like hotcakes.
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Feb 11, 2015 01:11
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peter banana posted:When did it become a point of pride to be unaware of the basics of taking care of yourself? I hear this poo poo all the time in my office about how people "don't even cook" or "can't even hang a painting." It implies that you have enough money hire out the problem. Things I can't take care of include oil changes, fixing the garbage disposal, and a programmable thermostat I didn't install because it looks complicated. Putting together big box store bookshelves and china cabinets using the supplied screws and nails is a big project/huge accomplishment for me. I'm always afraid of loving it up or it looking less than professional, so in most cases I would prefer to hire out installations and repairs.
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Feb 11, 2015 01:31
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greazeball posted:Dude I'm in the 69th percentile at age 40 and I put in 37000 cos I couldn't be bothered to look up how much is in my federal pension. Yes I'm addressing this paltry amount. Yeah, man. People are really, really, really poor. I think the odd part is that this data has been available to policy makers for decades and they know the trends. A large portion of our population is going to be incapable of living above the poverty line when their bodies break down, and instead of addressing the problem people just say "man, that's hosed" and drop the subject. One party's answer to this problem is to drop social security and rely on people investing more when they aren't doing it in the first place. Good ideas club for sure. Blinkman987 fucked around with this message at 02:17 on Feb 11, 2015 |
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Feb 11, 2015 01:42
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I went without a fridge for a year. I just went downstairs to a shop and bought what I needed at the time. I was eating out loads at that point in my life though. Anyway it's entirely possible (i have a fridge now., btw).
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Feb 11, 2015 02:05
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Powerlurker posted:Not to give that guy too much credit, but cooking for one kinda sucks. Most ingredients, recipes, and cookware are sized assuming four servings and eating leftovers over and over can get tiring. also this
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Feb 11, 2015 02:07
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Comrade Flynn posted:My gym clothes are literally just free t-shirts I pick up at the video game conventions I attend for work and 3 pairs of 10 year old shorts. I weight lift bare oot as it's easier for squats. Pretty much. My fitness clothing expenditures in the last 4 years or so was like 80 bucks for some nice minimus shoes.
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Feb 11, 2015 02:17
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Blinkman987 posted:Yeah, man. People are really, really, really poor. I think the odd part is that this data has been available to policy makers for decades and they know the trends. A large portion of our population is going to be incapable of living above the poverty line when their bodies break down, and instead of addressing the problem people just say "man, that's hosed" and drop the subject. One party's answer to this problem is to drop social security and rely on people investing more when they aren't doing it in the first place. Good ideas club for sure. A literal upper-class white-collar Washington bubble. See also the enthusiasm for raising the Social Security retirement age.
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Feb 11, 2015 02:37
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Blinkman987 posted:Yeah, man. People are really, really, really poor. I think the odd part is that this data has been available to policy makers for decades and they know the trends. A large portion of our population is going to be incapable of living above the poverty line when their bodies break down, and instead of addressing the problem people just say "man, that's hosed" and drop the subject. One party's answer to this problem is to drop social security and rely on people investing more when they aren't doing it in the first place. Good ideas club for sure. I had a look at the bar chart below the result for 65 years old. 90%+ have over $2m and will be fine for their entire retirement and their money will probably outlast them. The 75%+ are in the $750k region and should be able to live a comfortable lifestyle as if they are still working. Below that people will live a restrictive lifestyle. At 50% I've found the number is $309k leaving pretty much 50% of the 65 year old population almost hosed and probably dependent on working income or social security to survive. Political parties aren't big on facts only their ideologies.
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Feb 11, 2015 02:39
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Powerlurker posted:Not to give that guy too much credit, but cooking for one kinda sucks. Most ingredients, recipes, and cookware are sized assuming four servings and eating leftovers over and over can get tiring. Make four servings. Eat one, freeze three. Next day, repeat. Once you've done this seven times, congratulations! You can eat seven different meals a week for the rest of the month without any effort.
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Feb 11, 2015 02:46
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http://www.shnugi.com/retirement-account-value-percentile-calculator/?min_age=18&max_age=32&retqliq=0 posted:A retirement account value of 0.00 for ages 18 to 32 ranks at: 63.1% You can have the BFC-approved $1000 starter Vanguard account and be ahead of almost 69% of people under 32. You have to be 37 before the $1000 puts you in the lower half. The future's going to be some cyberpunk dystopia, isn't it?
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Feb 11, 2015 03:21
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This talk about how many people are going to be hosed in retirement has me thinking. So presuming you're a 30 year old and you subscribe to the everyone needs to save at least 8x their salary theorem then that means with 3% inflation and earning a comfortable 60k a year now you'd need to have $1,432,912 saved if you retired at 67. In today's dollars it would be $480,000.
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Feb 11, 2015 03:30
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onemillionzombies posted:This talk about how many people are going to be hosed in retirement has me thinking. That sounds about right. Really what it comes down to is how much you want to live on when you retire. The suitable number will differ for everyone. I'm working on having more than that.
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Feb 11, 2015 03:43
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Yond Cassius posted:The future's going to be some cyberpunk dystopia, isn't it? What makes you think it isn't one now?
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Feb 11, 2015 03:44
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Dessert Rose posted:Make four servings. Eat one, freeze three. Next day, repeat. Once you've done this seven times, congratulations! You can eat seven different meals a week for the rest of the month without any effort. It's really easy to say "hurr, just freeze the leftovers!" First of all, cooking a meal and then cleaning up the kitchen consumes your entire evening. In my experience, it's a hell of a lot easier to come home from work and cook dinner OR come home from work and wash dishes than it is to do both. Second of all, everyone is focused on the cooking part, there's also the issue of keeping ingredients in the house. Do you know how many onions have sprouted shoots on my countertop? How many oranges have turned into dried up little footballs? I gave myself food poisoning once FFS. I've cooked meals and made enough for leftovers only to find myself scraping moldy poo poo out of the container 8 days later because single guys don't always get home from whatever they're doing at a reasonable hour and in a reasonable condition. My guess is that if you paid a visit to the kitchens of most of the patronizing goons in here, you would not find a neatly organized refrigerator with labeled containers of leftovers waiting patiently to be consumed at their scheduled time. Of course, their prescriptions for single guys could just as easily be written for couples or families. After all, what's stopping mom from saving a whole bunch of money buying the Herman Munster sized ground meat at Costco, and making 16 servings worth of meat loaf that she can feed to her family four times, and repeating that seven times? Congratuations! She can now feed her family without any work for the rest of the month! Oh yeah, because it's a loving pain in the rear end, just like it is for the single guy. That reminds me, I saw this the other day and immediately thought of this thread. http://www.theonion.com/articles/man-brings-lunch-from-home-to-cut-down-on-small-jo,37912/
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Feb 11, 2015 04:52
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its true, if i buy something like spinach it always comes in these huge rear end packs and it goes brown within a few days. I always have to buy smaller portions of stuff, which works out to be way more expensive. Same with milk.
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Feb 11, 2015 04:54
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Stop talking about home cooking vs eating out. This subject attracts the GWS people who then poo poo up the thread shrieking about "nutritious" and "delicious". It then devolves into the min-max crap and surviving on beans and rice.
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Feb 11, 2015 05:41
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Blackjack2000 posted:It's really easy to say "hurr, just freeze the leftovers!" I agree pretty much entirely. I've done alright though by being a bit boring and making one meal a week in a slowcooker. I spend maybe an hour on Sunday afternoon putting together something nice, and with slowcooker liners, cleanup is pretty quick. I just checked my instacart receipt: my turkey chili (which is delicious) costs me about $16, and even with other inefficiencies in my cooking and cleaning process, that's a huge savings over grubhub every night of the week.
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Feb 11, 2015 05:46
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opus111 posted:its true, if i buy something like spinach it always comes in these huge rear end packs and it goes brown within a few days. I always have to buy smaller portions of stuff, which works out to be way more expensive. Spinach at least cooks down real small. It's the hearts of romaine for making salad that I always had issues with.
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Feb 11, 2015 05:47
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onemillionzombies posted:This talk about how many people are going to be hosed in retirement has me thinking. Considering 4% is considered to be the "safe withdrawal rate" for retirement funds, you'd better aim for more than 8x your salary. 25x would give you complete income replacement, though that is probably overkill for most people. 8x only replaces about 1/3 of your salary in retirement so you'd be depending pretty heavily on social security and still taking a lifestyle cut.
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Feb 11, 2015 05:58
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The best solution I've come up with on the single guy eating problem is to eat (haha) the additional cost of buying smaller portions and getting creative with regards to scaling down recipes. The only thing I can really buy in bulk is meats because those freeze pre-cooking. Fruits and veggies are on a buy for the week basis. It's not perfect, but it's easier on the wallet than eating out all the time, easier on your health than buying precooked single means, and easier on your palate than going full rice-n-beans.
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Feb 11, 2015 06:18
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Disco Salmon posted:I saw this and went whaaaaaaaaaaaa? (at the bit Cel quoted not at his post!!) I mean, I understand in most places its way cheaper to cook for yourself. But fuuuuuck eating the same thing for more than two meals. Specialization of labor and proper infrastructure has food stalls here cheaper than western-style retail grocery stores. Stalls get their food wholesale. Sure I could cook cheap food if I shopped at the wet markets, but I have a job. I let the food specialists specialize in food. My $20 to make a chili of 8 portions sounds like the frugal decision, but when I end up throwing away 6 of them in a few months when they end up all freezer burned I was better off with the $3 plate of chicken rice.
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Feb 11, 2015 07:10
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Boot and Rally posted:Stop talking about home cooking vs eating out. This subject attracts the GWS people who then poo poo up the thread shrieking about "nutritious" and "delicious". It then devolves into the min-max crap and surviving on beans and rice. This. I just let Mint pick the retirement target for me. Is 1.4M not going to be enough? I'm OK with the overseas option, if there is decent cheap beachfront still left in the world in 20 years.
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Feb 11, 2015 07:16
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Devian666 posted:I think this is a sad state of affairs. It also explains the articles that keep coming up with people working while retired. Most are probably ending up with only enough to maintain their lifestyle for a few years. I chucked some numbers in and 50th percentile for 65 year olds is somewhere in the $250k to $300k region. That's not going to be much of a lifestyle with the recommended figure of allowing for 30 years of retirement. Possibly one third or less than what is needed for 50% of the population. melon cat fucked around with this message at 07:24 on Feb 11, 2015 |
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Feb 11, 2015 07:17
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melon cat posted:The most appalling part is that many of these working retirees had pretty decent incomes and benefits back in their full-time employment days. But instead of saving their money, they opted to buy cottages, expensive bi-annual vacations, the vacation home in Florida and a sweet new Jeep. They figured that the equity in their home would be their retirement fund. Somehow. The New Zealand tradition is to buy rental properties as the boost to retirement income rather than just have a non-revenue earning house. Although most plan to downsize the house once they get rid of the kids and don't need all the rooms. Where most end up is with assets with no income and no liquidity. Nothing like paying a mortgage for 30 years just to reverse mortgage it to survive. People don't plan how they are going to survive it's all just magic.
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Feb 11, 2015 08:32
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MrKatharsis posted:I just let Mint pick the retirement target for me. Is 1.4M not going to be enough? I'm OK with the overseas option, if there is decent cheap beachfront still left in the world in 20 years. Good news! There will be a lot of new beachfront in the world 20 years from now 
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Feb 11, 2015 09:56
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MrKatharsis posted:This. How does Mint pick the retirement target? I am a Mint user but I don't see any retirement calculator.
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Feb 11, 2015 10:13
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According to that calculator, if you have 11k in retirement savings you have more than 50% of 55 year-olds. We are well and truly hosed.
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Feb 11, 2015 11:10
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My parents are 60 and 58. My Mom, 60, has no retirement savings. My Dad, 58, has a nice 401k and a lifetime Air Force officer's pension that gives them roughly $2500/mo after taxes. Along with that they have health care provided by the govt. because of my Dad's 23 years of service. They are planning on taking the 401k out when my Dad hits 59.5 this year and building a place out in Colorado  Their plan is to live off the pension, sell their home in Houston and move to CO with their recently purchased Subaru Outback. I think that's pretty cool, but they've been living off of my Dad's ludicrously high income + pension for the last 10+ years and I don't think they can make it in retirement on just that $2500 a month. Also, I'm amazed they haven't factored in the possibility of the govt. deciding pensions cost them too much and say 'gently caress you' to their older service members. Their hobby is basically finding poo poo to spend money on.The fun part about all this is how my parents are hardcore right-wingers and are so anti-government while receiving a pension and free healthcare *for life*. BloodBag fucked around with this message at 13:35 on Feb 11, 2015 |
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Feb 11, 2015 12:03
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