by metatron 14 Replies latest jw friends
http://wealthydebates.com/half-americans-cant-come-400/
There are a number of such observations being recently made - such as a large number with debts subject to collection and people facing retirement with no savings.
I advise the WTS to 'take the money and run'. Hard to see this situation getting better.
metatron
Shoot, alot these people have money. They just choose to spend it all. Members of my family scream that they are dead broke and ask to borrow money, then, in a few months, go to Biloxi to gamble, join a golf club, buy a horse, custom saddle, or a boat. All of them have nice I-Phones. Meanwhile, I choose to have an old phone. Laugh at me, but I can come up with $400, and I've closed the bank.
The first Bank Card named "charg-it" introduced 1946. Since
then saving accounts have dwindled. LOL
I know a few of such people, including my boss who borrowed $600 from me a few months ago, and i'm still waiting to get paid. I have a few family members which are like that as well. It's almost as if money is burning on their hands and they have to get rid of it as soon as possible. They are incapable of coming up with a plan to save a few bucks in a bank account.
I can't imagine living like that where financial disaster is constantly around the corner.
I can't remember the last time I had less than $400 in savings. Probably would've been just before college.
I've known a few people that probably fall into that category. You stop at a gas station, and they'll buy a bunch of random crap they don't need. They always have a new TV/phone/whatever, but the moment they get a flat tire, they're looking for a loan.
This may be a novel concept. Some people live on the fringe through no fault of their own. My parents worked very hard. It may be the classic example. Both were so bright and relatively welll read. The Witness focus on field service made them working poor. I worked for a while in housing rehab in Harlem. My education is a good example. Three quarters of my junior class failed a fifth grade arithmetic test. I routinely come across illiterate people. People from Harlem would climb a steep hill to receive social services at my church. We gave them vouches for food. I thought that poor people paid a nominal sum for housing. They were paying outrageous rent. It was only slightly below market rent. The living conditions would make people cry.
We aren't born equal. I have no solutions. Why are principals retained when the scores are so bad year after year?
There is two reasons for it, one is easy available credit and second low return on savings. Some countries have very high saving rate like in Europe or East Asia, but does not mean that people are living good or do not have financial issues. If your saving rate is bellow the inflation that there is no much need to save in cash. Majority of semi-liquid money in USA are in retirement accounts like 401K which are among the highest in the world. Germans have very high saving rate but also 2/3 of them are renters, yet their retirement portfolio is among lowest value in EU.
If more than half of the US population can't come up with $400 fast cash for whatever emergency; after all those pledges were asked of JWs, what makes WT think that the average JDub is going to be able to follow through with what each JW family head individually pledged.
That explains why many congregations are reporting waaaay less per month going to 'Mother' than was recently promised by each congregation family head. Yippee Ki Yay!!!!!!
What ages were included in the survey. When they say half, are they including children, teens, college students, elderly?
My solution is to have three bank accounts. One I live on. One I put tax return money and extra bonus money in and never touch it, the third collects a small monthly income and I let it accumulate and only use it in absolute emergencies, for gifts and once a year that is my vacation money. I only carry a bank card on the main account and treat the other two as if they do not exist. I also never buy anything I cannot pay cash for. I have always lived below my means. I try to avoid stress this way. As far as pensions go, teachers retire on a government pension that is 80% of their working income. Government pensions are the safest, and most generous, unless you are a high level Banker of course.
