Why? Haven't we just seen a collapse caused by the same issues that are still going on, and any money you have in banks will be lost when they go under because next time we can't bail them out? Live for the now, because when we're all 70 the man who didn't save will be as poor as the man who did save.

"saving"

I love that super duper ultra special account with limited withdraws that net you 1%*.  The lying farks gradually reduced that 1%* to .5%.  Lying mother farkers said it was a guaranteed 1%* for at least the initial deposit.  LYING MOTHER FARKERS!

Because saving at today's savings rates is a sign that you are well prepared for the future.  Also, note to self, look into that undercoating thing, just like the folks on the Jersey shore did prior to Sandy.

Saveing? Im all in on hookers and blow.

Shame our economy is designed to punish savers.

If you've no debts and have $10 in your pocket you have more wealth than 25% of Americans. Link

Would that be saving up a deposit for a house in numerous instances?

Slaxl: Why? Haven't we just seen a collapse caused by the same issues that are still going on, and any money you have in banks will be lost when they go under because next time we can't bail them out? Live for the now, because when we're all 70 the man who didn't save will be as poor as the man who did save.

FDIC.  As everyone likes to say, the gubment can't go bankrupt!

Saving what exactly? Wages are stagnant and costs are rising across the board.

Slaxl: Why? Haven't we just seen a collapse caused by the same issues that are still going on, and any money you have in banks will be lost when they go under because next time we can't bail them out? Live for the now, because when we're all 70 the man who didn't save will be as poor as the man who did save.

 My father saved his entire life and just about when he was going to collect his pension, it vanished.

And now they are coming for his (and yours) social security.  And you know what?  They will get it, they will get it all.

I keep a pretty large savings only to supplement my investments of which I made about 20% growth in 2012. I don't generally live my life like the governent will collapse at any time like the first few Farkers here do and I profit from it (and I'm barely middle class).

generallyso: Saving what exactly? Wages are stagnant and costs are rising across the board.

You can save on rent / mortgage if you live with mama. And then you can brag and brag about your astonishing thrift.

/parents are dead
//can't go home again

I get a better return rate giving Vinny down the block my cash. I think he's in the micro loan business but its got great returns. Why just last week I got a great return, the money was stained red though so I think he lent it to a textile start up or something.

WhippingBoy: KrispyKritter: Good for them. Seems like some young people appear to be very anti-materialistic too, although these claims are sometimes made while they are texting with one hand while removing the earphones with the other. Big difference in what one wants and what one needs.

I want power over who lives and who dies.

And I need you to have that power.

/In case you ever get it remember I was the first to say this

I would love a.job so I could even.have an income to start saving.

freewill: FullMetalPanda: "saving"

I love that super duper ultra special account with limited withdraws that net you 1%*.  The lying farks gradually reduced that 1%* to .5%.  Lying mother farkers said it was a guaranteed 1%* for at least the initial deposit.  LYING MOTHER FARKERS!

Fortunately, I have a life insurance policy from the 1980s with a huge cash account attached, where the interest rate was locked in at 4.3%.

[hahaguy.jpg]

I work in insurance. I am intrigued by and jealous of those old policies that have like $40,000 in accumulated dividend. And also irritated that their owners piss and moan about having to pay tax on the interest the accumulated dividend earns. If you are fortunate enough to have such a policy, enjoy it. And for the love of all that is holy, don't take a loan against it, never pay on the loan, and lose the whole kit and caboodle.

People do, every day.

People will always live outside of their means in order to appear as if they are financially on par with whatever reality show cast is popular at the time ie. Kardashians, Hiltons, Honey Boo Boos

kill me

If you were to look at my bank accounts, it would appear that I am not saving by any significant amount.  My investments are in the businesses in which I have control or at least 51% control and aren't subject to rampant speculation by others.  To me, saving in the traditional sense is a losing endeavor.  I'd rather invest my money in things I can control rather than putting money in a bank to earn a pittance.  I'd rather put money in my own business than purchase shares of stock in a company that will have a different board of directors in 3 years than it does presently because they didn't operate at a short term profit.  I might "save" in 20 years after I divest from these endeavors, but for now, I'm happy with the rates of return I make for myself.

The government doesn't need to send armed troops to steal your savings, if you keep it in a bank.

They just need to keep printing and printing (or its electronic equivalent).

Read "When Money Dies", especially the vignette about the German woman who broke her leg skiing, stayed in Switzerland for about a year to heal up, and came home to find that her entire life savings was less than the cost of the stamp of a letter from the bank indicating that her account balance was too small to keep the account open.  BTW: The numeric balance of the account had not gone down.

WhippingBoy: I want power over who lives and who dies.

<joel-voice>Oh, I don't think so.</joel-voice>

I've got $20k idling in the bank. I'd buy a CD just to stash it out of reach for a year but at 1% interest it's not worth the hassle. I'm keeping it liquid so I can do something crazy, like move for a job.

Good. Someone's got to bail out their retiring baby boomer parents who still don't live within their means.

I'm saving and keeping my cash balance on the low side.  Sucks getting interest rates that aren't even par with inflation.  Money losing its value just sitting around is depressing, but it's still good to have a 6 - 12 mo. emergency account liquid just in case...

dynomutt: Read "When Money Dies", especially the vignette about the German woman who broke her leg skiing, stayed in Switzerland for about a year to heal up, and came home to find that her entire life savings was less than the cost of the stamp of a letter from the bank indicating that her account balance was too small to keep the account open. BTW: The numeric balance of the account had not gone down.

This scenario also assumes that world investors who trade in currency lose their confidence in said currency and it gets reduced to junk status.

I don't think the dollar is going anywhere any time soon given that in the most recent nation bond auctions we got interest rates that basically amount to the world giving us money for free. No seriously for every hundred dollars we now borrow we have to pay back something like a 6th of one cent.

Fubini: Not just saving- getting married as well.

Live off of one person's paycheck, put the other person's paycheck entirely into savings. In a few years you could buy a modest house for cash money.

I'd find it a lot easier to live off just my paycheck if my husband weren't part time, waiting to be made full time. I carry our health and term life insurance out of my check. We both commute to the same place, but we work entirely different shifts, so we have to have two cars moving every day. Perhaps by May, he will be full time, too. I truly hope we can start and finish work close enough to the same time to commute together and save some money that way. Until then, my paycheck is just a joke. I hope I am working toward a career, toward something better, but I honestly don't know.

Which is why I am fighting nausea before work today.

Oh good, the problem with our economy is totally about a lack of investment.

wildcardjack: I've got $20k idling in the bank. I'd buy a CD just to stash it out of reach for a year but at 1% interest it's not worth the hassle. I'm keeping it liquid so I can do something crazy, like move for a job.

I used to do a 6 month CD ladder with my emergency cash, but now 6 month CD rates are actually less than the regular savings account rate at ING (now owned by CapitalOne...).  Not sure how that works, but I don't do the ladder anymore.

I can't even afford TF let alone start a savings...

/ doesn't live in mom's basement
//accepting donations

dynomutt: The government doesn't need to send armed troops to steal your savings, if you keep it in a bank.

They just need to keep printing and printing (or its electronic equivalent).

Read "When Money Dies", especially the vignette about the German woman who broke her leg skiing, stayed in Switzerland for about a year to heal up, and came home to find that her entire life savings was less than the cost of the stamp of a letter from the bank indicating that her account balance was too small to keep the account open.  BTW: The numeric balance of the account had not gone down.

Go ahead and explain what hyperinflation in Weimar Germany has to do with our current economy (inflation last year was ~2%).  I'll wait right here.

I shudder when I think about all the money I supposedly have in my 'retirement plan'. Expert accountants could not audit the big banks' books; Wall Street is just a free-for-all clusterfark run by the greediest a$$holes on the planet practically without regulation or oversight and they use their power to keep it that way. Our politicians can now be bribed to the tune of billions by the wealthy individuals or corporations. That money I have could be gone tomorrow and they probably would not even bother to jibber-jabber some BS explanation why.

I'm not warm and fuzzy inside.

Elites hate this, because it slows the rate at which the top 0.00001% get to siphon off money from the rest of the populace. 500 people control over 50% of all the money in the world. Those 500 people, and all their heirs, need to die in order for society to continue functioning. Their greed will destroy the human race if we don't destroy them first

Baryogenesis: Go ahead and explain what hyperinflation in Weimar Germany has to do with our current economy (inflation last year was ~2%). I'll wait right here.

I know right?

/juggalo mode on
Fiat currency, how does that work?
/juggalo mode off

Lost Thought 00: Elites hate this, because it slows the rate at which the top 0.00001% get to siphon off money from the rest of the populace. 500 people control over 50% of all the money in the world. Those 500 people, and all their heirs, need to die in order for society to continue functioning. Their greed will destroy the human race if we don't destroy them first

Heh heh. Now that's a 'Death Tax'.

SpdrJay: Saving up for the move out of their parents' house.....

Gen-X here.  I had to do that when I was 18, and times were MUCH better back then; I had no problem finding work...

I put my "savings" into materials and supplemented it with sweat equity on my 65 year old house. And yes, this was mostly before 2008 (but even then I knew the bubble was going to pop). The protracted recession, though, smashed our home value despite living in flyover country. And now we can't sell the place at break even price.

The modern economy is a scam for everyone who doesn't work in finance.

Where are they saving it? In their BUTTS. Obesity you know.

hitlersbrain: I shudder when I think about all the money I supposedly have in my 'retirement plan'. Expert accountants could not audit the big banks' books; Wall Street is just a free-for-all clusterfark run by the greediest a$$holes on the planet practically without regulation or oversight and they use their power to keep it that way. Our politicians can now be bribed to the tune of billions by the wealthy individuals or corporations. That money I have could be gone tomorrow and they probably would not even bother to jibber-jabber some BS explanation why.

I'm not warm and fuzzy inside.

What kind of retirement plan do you have?  Are you in control of the asset allocations?

dynomutt: The government doesn't need to send armed troops to steal your savings, if you keep it in a bank.

They just need to keep printing and printing (or its electronic equivalent).

Read "When Money Dies", especially the vignette about the German woman who broke her leg skiing, stayed in Switzerland for about a year to heal up, and came home to find that her entire life savings was less than the cost of the stamp of a letter from the bank indicating that her account balance was too small to keep the account open.  BTW: The numeric balance of the account had not gone down.

I bet you've read several books.

I'm just saving up some money until Gun and ammunition prices come back down.

hard to save what you don't have.

I got two very good pieces of advice that I try to follow.  One from a friend's dad about ten years ago "Live below your means and you'll never be wanting", although at the time I wasn't making much and had tons of debt so it was hard to save.  The second was from a friend who suggested I add a big chunk to my 401K every time I get a raise.  If you calculate right, you'll still be getting a slightly bigger paycheck and your saving for retirement.  It's been a while now and I'm close to the max.  Being able to follow either of these requires having a good job to begin with and getting pay increases, which is a massive problem across the board for many sectors of the economy.  I think we'll need a cultural shift to fix the problem of siphoning income and wealth to the top.