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  • Last Dime


    Have we learned a lesson ? People should not live to the last dime of their pay check. If they do they are living past their means.

    Everybody should save at least 10% of their pay and preferably 15% or 20% so they can survive things like national disasters or family set backs. Rule of thumb, for an individual or family is to have 6 months of funds available in readily accessible accounts.



  • #2
    Obviously easier said than done. Younger adults just starting out and working unskilled jobs have a very hard time saving.
    Trump 2020 - Keep America Great!

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    • #3
      Originally posted by PigHunter View Post
      Obviously easier said than done. Younger adults just starting out and working unskilled jobs have a very hard time saving.
      They can do it if they have the determination. I had $400 saved when I was in 8th grade. (I have told the story how I bought a boat and trailer mail order from Herter's. Came to my Fathers business. He asked how I was going to tow it and I said I would put a hitch on Moms car. He made me send it back, so I bought a twin engine, 100mph+ GoCart. Had to send that back to. LOL) My early life long savings and investments allow me to now live the way I want in my older years.

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      • #4
        Originally posted by PigHunter View Post
        Obviously easier said than done. Younger adults just starting out and working unskilled jobs have a very hard time saving.
        Yes. It is so easy for old farts who grew up in another time to be critical of young people starting out today. A very different world now. One thing that does bug me though is the ease with which young people who have no experience with money or life can acquire credit. During registration for MA and PhD programs I was shocked at the mob of credit card vendors who flooded the campuses. They shouldn't even be allowed on the grounds! Everyone wants to grab up those student loan funds from dumb kids who don't yet know how to handle their money.

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        • #5
          Originally posted by jhjimbo View Post

          They can do it if they have the determination. I had $400 saved when I was in 8th grade. (I have told the story how I bought a boat and trailer mail order from Herter's. Came to my Fathers business. He asked how I was going to tow it and I said I would put a hitch on Moms car. He made me send it back, so I bought a twin engine, 100mph+ GoCart. Had to send that back to. LOL) My early life long savings and investments allow me to now live the way I want in my older years.
          I guess anything is possible but like OHH said, you grew up in different circumstances. Everyone's situation is different. I was expected to pay for my way as much as possible. My parents provided for me so anything I would have saved would have been just like taking it from them.
          Trump 2020 - Keep America Great!

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          • #6
            I had taken the oath for the Navy and was officially in. My Aunt, who was Director of Education , said IF I went to College she would help me. I said O.K. and she got me out of the Navy. I can not imagine what my life would have been if I had stayed in the Navy. She made me promise on Her death bed I finish school. I got in school and had help the first year, after that it was all on me. I threatened to quit every year, tried to get in NYS Police and they told me to go back to school. I worked and borrowed some to get through. With my job, I slept only every other night a lot of the time. Took me about 10 years after graduated to pay off my loan. I have had a good 55+ years of work and now do what ever I want to in retirement.
            Last edited by jhjimbo; 03-18-2020, 12:35 PM.

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            • #7
              I blame it on FDR, SocSec and the (D)'s.

              1) FDR created SocSec.

              2) If the Gov't saves for me, why should I save anything?

              3) The (D)'s keep propping up ne'er-do-wells with welfare and SSI.

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              • #8
                Bubba - Does that mean you will be returning your stimulus check to the government?

                Comment


                • #9
                  Originally posted by jhjimbo View Post
                  I had taken the oath for the Navy and was officially in. My Aunt, who was Director of Education , said IF I went to College she would help me. I said O.K. and she got me out of the Navy. I can not imagine what my life would have been if I had stayed in the Navy. She made me promise on Her death bed I finish school. I got in school and had help the first year, after that it was all on me. I threatened to quit every year, tried to get in NYS Police and they told me to go back to school. I worked and borrowed some to get through. With my job, I slept only every other night a lot of the time. Took me about 10 years after graduated to pay off my loan. I have had a good 55+ years of work and now do what ever I want to in retirement.
                  Let's see just how much different you're life might have been had you not ... uh ... changed your mind about serving your country. I enlisted for three years Army at the very tail end of the Vietnam War. Guaranteed Korea instead of Nam. Trained to be an MP and actively recruited by several metropolitan police at the end of my tour. But after barely living through a high speed patrol car wreck I decided that was not what I wanted to do with my life. VA disability benefits paid for my BA and what was left on GI Bill paid for most of my first post grad work. Got me teaching jobs (eventually) in some of the best hunting and fishing areas in the world. VA monthly disability kept my horses fed (and later my family). Veterans preference landed me great jobs with US govt (e.g. horse packer) including park ranger at Olympic Park where one lovely 1987 August day I met my future bride. She eventually brought me to Canada where I completed my MA and PhD with a total student loan debt of just over $20K. Kids I worked with in NPS weren't able to complete MA in US for less than six figures. Finished my career with US Park Service as historian at Yosemite, the oldest park in the world. Without an interview I was hired by US Navy as historian at Pearl Harbour. But just three weeks before I was scheduled to start work my son died during the night. Shortly afterwards my wife died in a car accident. Ended my career. But I'm doing okay now. Fishing in Alaska and hunting in Africa and Montana.

                  Yes, Jimbo, life could have been so much worse for you had you not chosen to reneg on your promise to serve.
                  Last edited by Ontario Honker Hunter; 03-18-2020, 06:35 PM.

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                  • #10
                    That is you not me. I joined the Air Force after college. Have not looked back since.

                    Comment


                    • #11
                      Originally posted by jhjimbo View Post
                      That is you not me. I joined the Air Force after college. Have not looked back since.
                      I see. So you milked your college deferments as long as possible and then joined the Air Force for an extra year (or two?) to avoid being drafted into Army? Guess your aunt wasn't as rich or influential as Trump's dad and couldn't buy you a 4F. Don't get your shorts in a knot. I made a similar choice. Rather than racking up a huge student loan debt, I chose to enlist when I got my draft #6 and let Uncle Sam pay for my education later. I enlisted for an extra year for the Korea guarantee to avoid combat. As it turns out they stopped sending new troops to Nam when I was in AIT. Had I waited for draft I still would have been an MP but done only two years in Hawaii instead. Oh well. It all worked out fine. An extra year to grow up helped.
                      Last edited by Ontario Honker Hunter; 03-19-2020, 01:20 AM.

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                      • #12
                        Originally posted by jhjimbo View Post
                        That is you not me. I joined the Air Force after college. Have not looked back since.
                        Good job Jim!

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                        • #13
                          And where do the services get their money to pay for their troops?
                          LOL

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                          • #14
                            Yeah, I don't think being the fry cook at a fast food place to make for a career.
                            But many young of today are of the mindset that since they have a job, that alone should make for the latest I phone and a nice car. Of course many of them have kids, aren't married and live in gov subsidized housing.

                            I work in a factory. Profit sharing? Vacation or casino or new TV and other toys. Or when other bonuses come along, take FMLA...........less work and still have a normal 40 hr check.

                            Work sucks, but such windfalls should be banked, or split in half...to pay down debt and have cash on hand. Prepare for the unexpected.

                            And most don't.

                            We call them democrats.

                            My kid tells me young 20 somethings blow their money and say they should be allowed to "live their life"......its all about fun. They've somehow earned the right to shirk responsibility past today.

                            If the virus would only hit the stupid.

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                            • #15
                              Kids do have it tougher financially these days. They can't act foolish and still live comfortably, they also need to catch a break. 40% of college grads work a job that doesn't require a degree. Bought a car lately? Seems every sales person has a business degree, used to be you needed a solid sixth grade education to sell cars, add subtract read write.

                              Most all blue collar entry level jobs pay well below poverty. Fast food and Walmart. No more middle class factory jobs, those got sent to China for quarterly profits.

                              It's also true that most live beyond their means, but that's them. Kids don't even consider Social Security, it's so far in the future. They get very little in the way of hand outs from the govt too. The statistics on young people over dosing on heroin, fentanyl, or just committing suicide a faster way, is really bad. Kids in the prime of life. Our society is in poor shape and I don't blame it on young people.

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