Biden vs Trump 2020 - vote now and discuss!

Spiritual_Chaos

I'm sitting this one out

static111 said:

HughFreakingDillon said:

cincybearcat said:

Spiritual_Chaos said:

What is a 401k

Retirement plan that allows you to add $ before taxes from your paycheck. 

i've always wondered this myself. so it's the american version of RSP (retired savings plan). it always sounded to me like something only rich people had. lol

Only 32% of Americans have a 401k.  Not sure what that says, but certainly poor and working class are largely out of the retirement savings game.  When politicians talk about 401ks being effected it is only swaying that 32 percent. Creating and growing wealth in America isn’t as easy as the dream leads people to believe.

So does the rest have some state funded baseline retirement than, and become what we over here call "fattigpensionär" (poor pensioner)?

So you decide to get a 401K privately through your bank (private saving for retirement) or is it connected to your employer?

Need to get some private savings going myself... but don't know really how or what to do

HughFreakingDillon

Biden

mace1229 said:

HughFreakingDillon said:

cincybearcat said:

Spiritual_Chaos said:

What is a 401k

Retirement plan that allows you to add $ before taxes from your paycheck. 

i've always wondered this myself. so it's the american version of RSP (retired savings plan). it always sounded to me like something only rich people had. lol

Its very common, but I bet in a generation or 2 it won't be. 20 years ago it used to be common for employers to match what you pay, so if you contribute $500 a month into your 401k, so would your employer. Its a lot harder to find an employer to match now than it used to be, and that was a big incentive for a lot of people to save. Basically if you save $500 a month your 4o1k would grow by $1000 a month, hard not to take advantage of that. And that's why they did it, it was an incentive to save.

yeah, my wife's work does RSP matching, which is awesome, as they don't have a pension plan. I have a great pension plan, but also contribute monthly a little to an RSP. 

static111

Biden

Spiritual_Chaos said:

static111 said:

HughFreakingDillon said:

cincybearcat said:

Spiritual_Chaos said:

What is a 401k

Retirement plan that allows you to add $ before taxes from your paycheck. 

i've always wondered this myself. so it's the american version of RSP (retired savings plan). it always sounded to me like something only rich people had. lol

Only 32% of Americans have a 401k.  Not sure what that says, but certainly poor and working class are largely out of the retirement savings game.  When politicians talk about 401ks being effected it is only swaying that 32 percent. Creating and growing wealth in America isn’t as easy as the dream leads people to believe.

So does the rest have some state funded baseline retirement than, and become what we over here call "fattigpensionär" (poor pensioner)?

So you decide to get a 401K privately through your bank (private saving for retirement) or is it connected to your employer?

Usually employer based. In my experience the employer will match like 3-4% of what you contribute.   

As far as baseline retirement it is another American bootstraps situation. There is social security but that is a pittance, a majority of people that aren’t fortunate to have financial Success in their peak earning years coast in through to poverty in old age.  

Because you know providing a decent baseline living situation in society is socialism and next thing you know all private property will be nationalized and dictators will take over...

Spiritual_Chaos

I'm sitting this one out

static111 said:

Because you know providing a decent baseline living situation in society is socialism and next thing you know all private property will be nationalized and dictators will take over...

Well, I guess you need your swimming pool and look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one and can look out at all the people who doesn't have one but live in the illusion that they one day might have one.


But the swedish system is kind of shit, and is a big topic every election. You need a private plan here also. You can barely live on only the state funded one. That's why I need to start save...

HughFreakingDillon

Biden

trump says suburban women should vote for him because "I'm getting your husbands back to work". oh my god he's so fucking stupid. 

https://www.cnn.com/2020/10/28/opinions/trump-husband-remarks-will-alienate-suburban-women-alaimo/index.html

mrussel1

Biden

static111 said:

mrussel1 said:

cincybearcat said:

Spiritual_Chaos said:

What is a 401k

Retirement plan that allows you to add $ before taxes from your paycheck. 

Oh but look at the wonderful GDP numbers today! 7%!  Shows all of his economic policies work!!

Like Yang pointed out today. If you go down 33 and back up 33 you are still down 11

I think Gerald Ford said it best at the debate...

OnWis97

Biden

static111 said:

HughFreakingDillon said:

cincybearcat said:

Spiritual_Chaos said:

What is a 401k

Retirement plan that allows you to add $ before taxes from your paycheck. 

i've always wondered this myself. so it's the american version of RSP (retired savings plan). it always sounded to me like something only rich people had. lol

Only 32% of Americans have a 401k.  Not sure what that says, but certainly poor and working class are largely out of the retirement savings game.  When politicians talk about 401ks being effected it is only swaying that 32 percent. Creating and growing wealth in America isn’t as easy as the dream leads people to believe.

That's funny, since so many more that that get excited about 401Ks doing well. Maybe it's this way elsewhere, too, but in America, we gauge our economy on how well the rich and upper-middle-class are doing.

brianlux

Biden

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

HughFreakingDillon

Biden

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

Gern Blansten

Biden

Halifax2TheMax said:

gimmesometruth27 said:

F Me In The Brain said:

King D no doubt believes this crazy story about the producer sending the only copies existing to Tucker and a named shipping company stealing it.  This is great.

so i guess this is the end of the hunter biden thing? so funny.

End? Its just the beginning. An unnamed homeless person in an unnamed state and city will find the missing documents tomorrow evening, pass them along to the local repub headquarters because they just knew they looked important and because they saw Hunter Biden's name on some of the documents, they thought they would be interested, just in time to make the Sunday morning talk show rounds and be the lead and only story all day Monday and Tuesday, leading into Wednesday. After Sleepy Woke Joe Basement Biden is sworn in in March, the repub minority will do nothing but scream about how this hasn't been investigated and its the biggest political scandal of our times. You're going to hear about for the next 4 to 8 years, I'm afraid.

that's about exactly what my wife and I were talking about last night...this will be the smear on Biden...the new Benghazi

so fucking stupid

But why didn't the idiots copy or scan that shit?  The only copy?  Really?

HughFreakingDillon

Biden

Gern Blansten said:

Halifax2TheMax said:

gimmesometruth27 said:

F Me In The Brain said:

King D no doubt believes this crazy story about the producer sending the only copies existing to Tucker and a named shipping company stealing it.  This is great.

so i guess this is the end of the hunter biden thing? so funny.

End? Its just the beginning. An unnamed homeless person in an unnamed state and city will find the missing documents tomorrow evening, pass them along to the local repub headquarters because they just knew they looked important and because they saw Hunter Biden's name on some of the documents, they thought they would be interested, just in time to make the Sunday morning talk show rounds and be the lead and only story all day Monday and Tuesday, leading into Wednesday. After Sleepy Woke Joe Basement Biden is sworn in in March, the repub minority will do nothing but scream about how this hasn't been investigated and its the biggest political scandal of our times. You're going to hear about for the next 4 to 8 years, I'm afraid.

that's about exactly what my wife and I were talking about last night...this will be the smear on Biden...the new Benghazi

so fucking stupid

But why didn't the idiots copy or scan that shit?  The only copy?  Really?

can't scan an idea
can't take a picture of a ghost
can't take video of the void
can't build a fence with no posts

mace1229

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

A lot of government employees with pensions probably don't bother with a 401k.
But I would also guess the popularity is slowly declining for several reasons. One being standard of living has increased so that things that were considered a novelty 20 years ago are now a must have. People spending $400+ on phone plans with $800 phones, spending $80 a month for high speed internet and another $100 for cable with all the premium channels. 30 years ago we had 1 phone line and a $10 phone that lasted 10 years, and whatever channels our rabbit ears got was the TV we watched. People don't have extra income anymore, and part of the reason (not the only) is because we want everything. 

brianlux

Biden

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

Spiritual_Chaos

I'm sitting this one out

brianlux said:

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

Those damn millenials.

mace1229

brianlux said:

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

So true. I've worked in a lot of very low income areas, in schools with 98% free lunch. In those areas the kids would still all have the newest iPhone and have money to go to the liquor store every day and buy a bag of chips and an Arizona Iced Tea. Kids would frequently come in with brand new $200 tennis shoes. I'm an adult, and I don't spend more than $60 on tennis shoes. Sometimes it seems like the attitude is having those luxuries is a right. But they don't realize they spend $100 a month at Starbucks like you said. 

Spiritual_Chaos

I'm sitting this one out

Thread softly. This starting to come off as:

HughFreakingDillon

Biden

brianlux said:

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

i 100% agree that more "real world" things need to be taught in school. my oldest daughter's school is leading the charge in this; they do something called "weeks without walls" and they go experience stuff, even getting access to places you and I wouldn't, like real research labs and places they can really figure out where their strengths and interests lie, and just learning about the world and their community in ways i never would have dreamed of. also a big emphasis not on just academics, but sewing and cooking and art and real life things that not all kids get to learn at home. not everyone is going to be an accountant. i'm glad some schools and divisions are starting to realize this. 

mrussel1

Biden

brianlux said:

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

Personal finance is a required course for juniors/seniors in my district.  It is split half the year with macro-econ.  I think it's great. They learn about banking, credit , credit reports, etc. 

brianlux

Biden

Spiritual_Chaos said:

brianlux said:

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

True, but you have to remember that many people who complain the loudest about not having enough money think nothing of buying a  $4 or $5 latte mocha fudge hoo haa beverage at Starbucks every morning on their way to work.  The majority of Americans are clueless about personal finance, budgeting and making their money stretch.  The smart thing to do would be to teach high school kids personal finance.  That's one of the thousand things my wife wants to do in her "retirement".

Those damn millenials.

Well, no, adults in general.

Ledbetterman10

Biden

HughFreakingDillon said:

brianlux said:

I find it interesting that some view having a 401K as being a sign of someone being wealthy or upper middle class.  My wife and I work in the used book business.   We make about what the average income is for a couple in the U.S. in a state with a higher than average cost of living.  And that is late in our working years, as high as we'll ever go in our kind of small business in podunk Placerville, California.  We have a 401K.  Does that make us upper middle class? 

 

not necessarily, but if the stat that someone posted is true, that only 32% of americans have one, that would suggest it is mostly those with more disposable income than those without. 

There are other retirement plans besides 401Ks though. I have a pension, for example. A 401K is a defined-contribution plan and a pension is defined-benefit plan. And there's other defined-contribution plans that are similar 401Ks (like IRAs). So that 32% stat might be specifically for 401Ks, and if so, there's lots of people that have non-401K retirement plans.

Here's some info on the differences between pensions and 401Ks...if you're interested.
https://money.usnews.com/money/retirement/401ks/articles/pension-vs-401-k