My Grandchildren are In Terrible Trouble

[jelms]

The new president will not stop debt from piling up. Believing that is ignorance, health care cost, social security, and other govt programs are being "financed" at record rates. If taxes are raised than medical and drug costs should be regulated and capped, that is the only way to keep that balanced. Capitalism allows companies to charge what they want went govt debt will supplement what the person doesn't have. Eventually it will all crumble and the US dollar will have no value to it. Best advice is to pay off debt, save money, buy investments that will protect your downside loss(I like Gold, Silver, utility stocks, and if possible money in some european or swiss bank held in euros...buy em slow because they will pull back)

Switzerland, Singapore have no short term debt and per capita are the wealthiest countries in the world.

Regulating and capping medical and drug costs sounds a little bit like socialist medicine Your statement about the government supplementing what most individuals do not have is completely correct, and just wrong in my view.

If there is one person in their 20-30-40s that think social security and medicare is going to be there for you, you are dreaming. I don't expect or want the government to help me in my "golden" years. Not much of a liberal response for those that read some of my posts, huh

Oh, one thing to remember burntrubber, if the dollar is devalued saving US dollars will do you nothing and buying US utilities will harm you since the markets and stocks will collapse.

I really wished I would have paid more attention in my Econ classes, but it was way to dry

-jeff

 

[BurntRubber]

Regulating and capping medical and drug costs sounds a little bit like socialist medicine Your statement about the government supplementing what most individuals do not have is completely correct, and just wrong in my view.

If there is one person in their 20-30-40s that think social security and medicare is going to be there for you, you are dreaming. I don't expect or want the government to help me in my "golden" years. Not much of a liberal response for those that read some of my posts, huh

Oh, one thing to remember burntrubber, if the dollar is devalued saving US dollars will do you nothing and buying US utilities will harm you since the markets and stocks will collapse.

I really wished I would have paid more attention in my Econ classes, but it was way to dry

-jeff

Jeff - I am just touching on a few things, I think the part about Medcare and SS came across different from what I was thinking.

Basically, we should save as a country, not go into debt or leverage. as far as utility stocks...true but they always have a steady cash flow and are good for dividends ( CHG, CV) are a few good ones. Just want people to protect themselves!

What do you mean I can't collect social security in 35 years

 

[jelms]

Jeff - I am just touching on a few things, I think the part about Medcare and SS came across different from what I was thinking.

Basically, we should save as a country, not go into debt or leverage. as far as utility stocks...true but they always have a steady cash flow and are good for dividends ( CHG, CV) are a few good ones. Just want people to protect themselves!

What do you mean I can't collect social security in 35 years

I did follow you, was being a little cheeky

I completely agree that we should be a country of savers. Running up personal debt and using mortgage ARMS to buy more than you can afford is a terrible thing to do. Shows very low intelligence for the long run savings all of us should be working toward. If you don't understand the downside of what you are buying you deserver what you get, foreclosure

HAHA You can give it a try

-jeff

 

[Prof]

I know that many think I am an elitist ass when I say things like "save for your SRT 10" or "never finance mods" but I really believe it. This is fundamentally a hobby for most of us, and expenditures should come from disposable dollars, after all needs (to include savings) are accounted for. To add financing charges to a discretionary expenditure is really not rational.

I made the sacrifice years ago to wait to buy a car until I had cash...the wonderful thing that happened...I didn't stop saving for a car when I bought that car (Mercedes 300D), I continued to save for the next car...and as wages increased I had much more than enough for the next car so I started other savings goals...the net net was never financing another vehicle. The by product was significant contributions to a 401k program, and the rest of the story is like a fairy tale. All from that decision to save for that old diesel rather than finance it.

 

[BurntRubber]

I know that many think I am an elitist ass when I say things like "save for your SRT 10" or "never finance mods" but I really believe it. This is fundamentally a hobby for most of us, and expenditures should come from disposable dollars, after all needs (to include savings) are accounted for. To add financing charges to a discretionary expenditure is really not rational.

I made the sacrifice years ago to wait to buy a car until I had cash...the wonderful thing that happened...I didn't stop saving for a car when I bought that car (Mercedes 300D), I continued to save for the next car...and as wages increased I had much more than enough for the next car so I started other savings goals...the net net was never financing another vehicle. The by product was significant contributions to a 401k program, and the rest of the story is like a fairy tale. All from that decision to save for that old diesel rather than finance it.

elitist or not...save and buy cash. He is richest who lives beneath their means!