Average American savings

[bigpaul]

yeah, which is why they are deep in debt and have no savings, when they lose their job they are straight down the food bank because they have no food put back either, I never could live like that.

 

[Amish Heart]

I think it's because people like that always believe someone will take care of them...the food bank, the govt, just someone.
They need to grow up and take care of themselves. And if they are a man with a family doing that, that's just sad.

 

[bigpaul]

thats okay whilst those systems exist and are working, but come the time when the economy collapses and they have to stand on their own 2 feet they will fail. I was taught not to be reliant on anyone else and sort out my own problems by myself.

 

[Arcticdude]

You have to live within your means.

I've always lived way below my means. When I was only making $15/hour I lived like I made $10/hour. Any overtime or raise I got all went to savings. Even when we started making good money we never lived close to our means. Still don't.

 

[Brent S]

I’ve worked hard my entire life, made good financial decisions mostly and saved enough to consider retiring early. I’m really going to be pissed if the economy collapses and all my savings becomes as worthless as confederate money!

 

[Helen Back]

I’ve worked hard my entire life, made good financial decisions mostly and saved enough to consider retiring early. I’m really going to be pissed if the economy collapses and all my savings becomes as worthless as confederate money!

Imagine how angry those of us who DIDN'T vote for the guy spending trillions on everything will be, when the economy collapses.

 

[spazatak]

I’ve worked hard my entire life, made good financial decisions mostly and saved enough to consider retiring early. I’m really going to be pissed if the economy collapses and all my savings becomes as worthless as confederate money!

I'm thinking about getting out of the market end of august, or right before the cold and flu season.

 

[Arcticdude]

I'm thinking about getting out of the market end of august, or right before the cold and flu season.

That could be a mistake. The market loves the big spending plans of Biden. I have no problem profiting from this POS. Of course the markets would have been much better under Trump. Theres always money to be made no matter who's in office.

 

[Brent S]

I'm thinking about getting out of the market end of august, or right before the cold and flu season.

I’ve actually been out of it for a while now. I am probably over cautious though as there have been a lot of growth opportunities over the last year and I’ve been loosing money to inflation. I expect a large hit to the whole market before long and will consider getting back in afterwards. Wish I had a crystal ball to know when and where…. But hey, I’m just the guy that everything bad is my fault because I saw trump for the pig he was, so don’t listen to me!

 

[spazatak]

That could be a mistake. The market loves the big spending plans of Biden. I have no problem profiting from this POS. Of course the markets would have been much better under Trump. Theres always money to be made no matter who's in office.

The market is reacting to all the fake money being injected into the market. Not to to the reality of paying people to sit on their asses at home. Plus, if Fuelmich is correct about people who were inoculated croaking when the cold and flu season starts, august sounds about right.. September- October are usually down months anyway and I have enough to retire right now.. If Fuelmich is wrong, I'll get back in. But I still haven't decided.

 

[bill harrell]

Heck all you guys don't seem to realize that all your preps are the best investment financially you could have made. Because the better you prep the more your worth. The harder the times the more you could profit. Real math. Supply and demand. Ease up and Pat yourselves on the back, but never retire.

 

[MOS0231]

I’ve worked hard my entire life, made good financial decisions mostly and saved enough to consider retiring early. I’m really going to be pissed if the economy collapses and all my savings becomes as worthless as confederate money!

If everything goes sideways, the economy collapses, I think money/savings will be an after thought.
Watching the riots in cities last year, the LA Wi Spa protests and counter protests, then image how people will behave when the EBT cards dont work, or it costs $500 for a 2L of soda.

 

[MOS0231]

I’ve actually been out of it for a while now. I am probably over cautious though as there have been a lot of growth opportunities over the last year and I’ve been loosing money to inflation. I expect a large hit to the whole market before long and will consider getting back in afterwards. Wish I had a crystal ball to know when and where…. But hey, I’m just the guy that everything bad is my fault because I saw trump for the pig he was, so don’t listen to me!

I got out in late FEB last year.
Jumped back in in SEP.
Saved myself from a 16% loss, and made 23.5% for the year.
That market I understood.
This one, I can see the growth as states re-open (note: JPMorgan released a report about a week ago, showing Red states that have re-opened are seeing better growth and lower unemployment, just read a report showing the top 10 cities doing economically well are all GOP lead. The bottom 10, Dems). This makes sense to me.
But when does the bubble break?
That is what I am looking for.

 

[spazatak]

Its been proven that timing the market doesnt work, says the guy who's thinking about getting out. Re-balancing does though.

I did nothing and was about to go 100% stocks at the bottom. My number was 35% drop and that's where it stopped and flew up so fast I missed my chance.

I lost nothing. You only lose if you sell low.

 

[DrHenley]

But you can lose everything if you ride a stock into the ground waiting for it to turn around. That's one thing about precious metals...they'll be here forever and they will never go much below what it costs to mine them because production will stop. Bitcoin can go to zero.

 

[MOS0231]

Meh, I have made and lost two fortunes (the second one was fun, she was 12 years younger than I), and working on my third.

It is only money.

 

[Dracos]

My father never had a credit card. He carried cash. He told me once "With cash you can only spend up to all you have."

 

[Brent S]

If everything goes sideways, the economy collapses, I think money/savings will be an after thought.
Watching the riots in cities last year, the LA Wi Spa protests and counter protests, then image how people will behave when the EBT cards dont work, or it costs $500 for a 2L of soda.

At least I have plenty of ammo…..

 

[Amish Heart]

That's a smart dad you have, Dracos. I do the same. I don't know what money or stocks are going to do when, but it won't be good. But I will say, you can't go wrong with food, meds, and ammo. We all need those things, and prices will go up to the point of disbelief. If retarded MSNBC is even talking about food prices going up, you know it will.
Thankful for a freezer full of yummy steaks that I didn't pay $16 a lb for.
Thankful for my meat chickens that will be going to freezer camp in about four weeks.
Thankful for the buckets full of fresh veggies I pull out of my garden every single day.
Thankful for my loaded apple and pear trees that'll be ready very soon.

 

[Helen Back]

I’ve actually been out of it for a while now. I am probably over cautious though as there have been a lot of growth opportunities over the last year and I’ve been loosing money to inflation. I expect a large hit to the whole market before long and will consider getting back in afterwards. Wish I had a crystal ball to know when and where…. But hey, I’m just the guy that everything bad is my fault because I saw trump for the pig he was, so don’t listen to me!

You still haven't clarified how he is a pig, but that's par for the course with you. I guess Biden being a chomo doesn't bother you.