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you are generalizing . we have 6 kids including spouses , in different areas and all are doing quite well . we have young people at my old company doing better early on in their career than i ever did . my son makes more at this point in his career than i retired at .
there are loads of youngin's doing quite well out there . in fact we have quite a few right here in this forum .
What about the baby boomers? The Federal Reserve low rate game is stealing money out of every retired person's interest income monthly. Of course, they say they deserve to lose. If they did the right thing it would be offset by capital gains. That's all good and nice except they are retired. One some need current income and can't buy Apple, etc. Most can't or shouldn't take extraordinary risks which they are now being forced into. And others lost to the Federal Reserve's last game of delay the downturn and blow asset bubbles that burst spectacularly and don't have the money to invest.
This socialist managed economy driven by the Federal Reserve is a disaster!
oooh stop with that low rate bull. most boomers with assets do not hide it all under a rock . they have very diversified portfolio's and are doing just fine .
in fact the rest of the boomers don't even have enough savings to matter since they live hand to mouth and low rates are saving them more by holding the line on many good and services that would cost more if the cost of money is factored in .
the average american family saved almost 3k a year because of these low rates ,. very few would ever see that in real return interest .
all anyone had to do is heed the feds warning and shift from cd's to bonds and they came out way ahead with no stocks . even this year the 30 year treasury is up double digits in value .
Last edited by mathjak107; 09-01-2016 at 03:33 AM..
Household interest payments fell to an average of $469 per month at the end of last year, down from a peak of $728 in 2007, after adjusting for inflation. That equals $3,100 a year.
Three-fourths of the interest savings stem from falling rates, the rest from a reduction in debt.
Mortgage interest payments are down 30% from their 2007 peak. Interest payments on other debt, such as credit cards and car loans, are down 50%.
Americans spent 5.8% of their after-tax income paying interest on mortgages, credit cards, car loans and other debt, according to the latest data from the Bureau of Economic Analysis. That's the smallest share since 1977 and a steep Interest savings have softened the blow of falling personal income, which is $1,700 lower per household than at the 2007 peak.
seniors have been seeing far more benefit from low rates than being hurt by them .
healthcare and rents have been going up drastically over most of my working career and always will regardless of fed policy .
where is your proof of this? very few people are in the stock market and bonds are returning very little. are you an obama/hillary plant?
I am another that is doing just fine. I would also disagree about the stock market investments. At a minimum lots of retirees I know have 401k assets in diversified funds that include stocks. Maybe you should start a poll on the retirement forum.
Except for the missing random ALL CAPS and mentions of the "Mathjak team" this is a JoTucker retread.
yep , one is gone and another takes over for them . we had doctor doom there too for a while . they all seemed to vanish about the same time once the markets recovered and once again they were wrong about it being the great apocalypse .
Last edited by mathjak107; 09-01-2016 at 07:05 AM..
where is your proof of this? very few people are in the stock market and bonds are returning very little. are you an obama/hillary plant?
are you kidding us about total return on bonds ? they have been awesome . bonds are about capital appreciation as much as the interest . other wise that is like looking at a dividend yield and not counting what the stock is doing .
total bond funds are up 8% the long bond 18% ytd , my high yeld bonds 14% ytd .
in fact if you did nothing but bought a treasury bond fund like tlt when the fed announced rates on cd's would plunge years ago you would have averaged almost 9% a year in total return . a total bond fund averaged 6% a year over the same time frame .
Last edited by mathjak107; 09-01-2016 at 07:05 AM..
The USA is the greatest power on earth, because of its prosperity, wealth and weapons. As a result, no one, not even its own citizens, can go against it.
I am very familiar with the whole optimism affirmative thing, which is being expressed here. It is especially popular with some factions of the political "left," and you can see it expressed in, for example, Stephen Pinker's recent writings. Not the far-left, but the mainstream Democrat "liberal" left.
(I know I am throwing around political labels that have no clear meanings, but don't know any other quick way to say it).
Their idea is that we have unprecedented prosperity and peace, along with great technological and medical advances.
It sure does look that way, and it does form a convincing foundation for the forced cheeriness of the Age of Denial.
But let's look at why we have so much peace for so long (I know there have been wars, but mostly far away, nothing to threaten us aside from 911).
We have peace because of the unrivaled power of the US military. And I should add because of the prosperity, with practically all Americans having not only electricity and running water, but cell phones and internet also.
There is little motivation to fight. But even those who are motivated to fight know they will be instantly nuked and flattened.
Controversies over the second amendment are so silly. What good is a rifle against nuclear missiles?
Ok, things look good, or at least not too bad. For some of you things are great because you made enough money in the stock market so now you could lose half and hardly notice. And your kids somehow could afford college and already make six figures.
But one problem that you don't notice is that we have lost our freedom. We have no choice but be cogs in a giant machine. Ok, well who cares as long as our lives are more pleasure than pain and our needs are more than met?
It is an edifice that can explode or crumble in an instant, at any time. Oh I know there is always someone yelling that the sky is falling, that has gone on for thousands of years.
And maybe the civilization will hang on for decades, or for centuries, who knows? But we have lost our freedom to the US government and its military, and the big banks, and their friends at the Fed.
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