Saving would be nice, but...

[FinanceDude]

Quote:

Originally Posted by kcowan From The Daily reckoning: I think that sums up many of the differences.

Pretty much, we went from a nation of savers to a nation of spenders in one generation, and now we have a "policy of entitlement" that kids born today are made to embrace........

35 years ago,only 5% of all Americans were FI. Today, the number is still only 5%, even though we have 401K's, Roth IRAs, etc, etc. Bottom line is, the 5% found a way to do it before all these tools, and the SAME 5% are doing it with the tools.

Since hardly ANYONE is maxing out their 401K, etc, why don't they make the amount you can take out UNLIMITED, it's not like 95% of the folks will do it anyway...........

[unclemick]

You know that not too far from that Montlake Terrace spot in the article a certain ding dong relative of mine who thinks New England has a good football team this year RENT/S the guest cottage in an airplane hanger/ is married to a conservative Republican /wonders over the phone(Saint's are/were stomping Seattle) how her oldest son can afford to put in a bid on a house in DC on military pay with a non working wife and two kids 1 and 3. She is putting the over age 50 catch up amount into her 403(she had to ask Hubby) - in money market.

her oldest son actually asked me - how should I invest (getting married, fresh out of the Academy) 1994.

1. DON'T read any investment books! - except this one I'm giving you/Bogle on Mutual Funds.
2. Auto deduct the max military TSP equivalent of Index 500.(1994 remember!).
3. Concentrate on your day job - make sure your takeoffs=your landings. Don't waste time watching the market.

Sooo - maybe the Pat's have a good team this year/undefeated/ but who's looking.

heh heh heh - and my sister actually asked - why didn't I move back to my old stomping grounds - when she was treating me to an expensive Starbucks in Kent, Wa. I think I'll stick with the yellow brick road in Kansas - it's around here somewhere!