Someone found out how to fix our country......hooray!

pezenfuego

pezenfuego

Active Member
Originally Posted by mie
http:///forum/post/3054702
Here is a unique way to solve our country's financial problems.
Keep in mind that there are 40 million working people 50 and older.
All legal working American people 50 and older will receive 1 million dollars but they must do the following:
All working folks 50 and older must retire, next they buy 1 new American car, and finally they must pay off their home or buy a house.
When they retire you now have 40 million job openings.
When they buy that American car, automakers save.
When they buy that new home, the housing market makes a strong rebound.
I say we take this advice because it was obviously written by a very educated individual.
 
reefraff

reefraff

Active Member
Originally Posted by renogaw
http:///forum/post/3054890
sorry, but 1mil really isn't all that much anymore. those people would not be able to retire on it. plus, think about it. how many of those people's jobs are too advanced for any joe schmoe to come in and fill?
then, seriously, think of the inflation... those people under 50 would never be able to afford anything.
whoever thought of this must be part of the obama crew who is willing to throw money at anyone...
You hand me a million and I'll retire just fine thank you very much.
You figure with that many new jobs opening up all at once unemployment would drop through the floor so besides all the cars being bought you would have pressure caused by increased consumer spending by those previously unemployed as well as the increased wages needed to keep current employees from jumping ship. Would definitely be nuts.
One thing that would fit our present reality would be to temporarily eliminate or modify the hit you take for taking social security early. If you had a surge of people 62+ retiring and having unpenalized access to their retirement accounts it could give a pretty decent boost to the economy without really causing any inflation. Of course it wouldn't do a whole lot for the social security solvency issue.
 
mie

mie

Active Member
I could pay off may house buy a new car and retire today with 1 million dollars and I am only 33.
So to say you could not retire at 50 with 1 mill your you are doing something seriously wrong.
Here's a little trick my dad taught me............................................ DON'T LIVE ABOVE YOUR MEANS.
 
nina&noah

nina&noah

Member
While I see your point, the cost of living is different in every city. The average home in Miami costs between $300,000 to $500,000. That leaves them with a little over half of the money left. Could you really live off of that for the 30 to 50 years that they may have left? No, of course not!
 
reefraff

reefraff

Active Member

Originally Posted by nina&noah
http:///forum/post/3055159
While I see your point, the cost of living is different in every city. The average home in Miami costs between $300,000 to $500,000. That leaves them with a little over half of the money left. Could you really live off of that for the 30 to 50 years that they may have left? No, of course not!
Simple solution. DONT RETIRE IN MIAMI
 
darthtang aw

darthtang aw

Active Member

Originally Posted by nina&noah
http:///forum/post/3055159
While I see your point, the cost of living is different in every city. The average home in Miami costs between $300,000 to $500,000. That leaves them with a little over half of the money left. Could you really live off of that for the 30 to 50 years that they may have left? No, of course not!
Anyone that couldn't live off the left over money and their social security return Is a moron. Not to mention many have pentions and 401 K to add to this as well....Anyone with all any combination of the two with no

[hr]
and car payment had damn well be able to survive.......
 
renogaw

renogaw

Active Member
i'd bet a lot of society doesn't have pentions or 401k's, or even roth's or anything else cause they cannot afford to or don't have jobs that offer them.
age 33, no way could you retire with just a million. sorry, nope. you'd spend it way too fast. doesn't matter what you were taught. oh, you'll invest it? yea, how's that working for others? nope, i wouldn't even quit working if i were handed a million. I may use it to start a business that i WANT to do for the rest of my life, but no way could you retire on it.
my wife and i live in our means, making very decent money (over 6figures combined). I don't have 401k, she does, but neither of us will ever get a pention. our daughter is going to end up costing us more than a million before shes out of college. our mort-g@ge is about 175k, and we own our cars outright.
 
egill

egill

Member
My wife would get screwed on this as she would lose money. If she works from the age of 50 to 63(average retirement age) she will make well over 1 million dollars.
 
darthtang aw

darthtang aw

Active Member
Originally Posted by renogaw
http:///forum/post/3055572
i'd bet a lot of society doesn't have pentions or 401k's, or even roth's or anything else cause they cannot afford to or don't have jobs that offer them.
age 33, no way could you retire with just a million. sorry, nope. you'd spend it way too fast. doesn't matter what you were taught. oh, you'll invest it? yea, how's that working for others? nope, i wouldn't even quit working if i were handed a million. I may use it to start a business that i WANT to do for the rest of my life, but no way could you retire on it.
my wife and i live in our means, making very decent money (over 6figures combined). I don't have 401k, she does, but neither of us will ever get a pention. our daughter is going to end up costing us more than a million before shes out of college. our mort-g@ge is about 175k, and we own our cars outright.
I was refering to the seniors, not anyone younger.
 
nina&noah

nina&noah

Member
Originally Posted by Darthtang AW
http:///forum/post/3055542
Anyone that couldn't live off the left over money and their social security return Is a moron. Not to mention many have pentions and 401 K to add to this as well....Anyone with all any combination of the two with no

[hr]
and car payment had damn well be able to survive.......
Darth I don't understand why you would say that. If a person were to live to see 100, that would only be 10,000 a year! Most 401Ks are in the toilet right now and Social Security is a joke.
However, let's say for arguments sake that a person does downsize and buys a home for 100,000. That would leave them with 900,000. I'm not even taking the price of the car out, because that would complicate my math

If the person lives to 100, that would only leave them with 18,000 a year. I just don't think a million is what it used to be.
 
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