Showing posts with label The Poor House. Show all posts
Showing posts with label The Poor House. Show all posts

Sunday, November 22, 2009

Wednesday, September 30, 2009

Pretty much obvious

Investment advice from Americans have proven to suck, so let's give the Aussies a shot.
NEW superannuation laws mean generation X must drastically change its approach to saving for retirement, as the days of waiting until 50 to start seriously contributing to super -- a popular strategy among baby boomers -- are over.

For those in their 40s who have only ever relied on the standard contribution of 9per cent of their annual income to super, this may mean putting away between $12,000 and $25,000 a year (depending on the starting balance and how much is needed in retirement) and building up a portfolio of investments outside super.

However, this is a generation that has more debt than any of the generations before it, so while genX-ers may be earning more than their parents did at their age, it is very likely that their cash flow will be lower.

Friday, September 18, 2009

I wish I was 60

via Balloon Juice

The incomes of the young and middle-aged — especially men — have fallen off a cliff since 2000, leaving many age groups poorer than they were even in the 1970s, a USA TODAY analysis of new Census data found.

People 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.

While the young have lost ground, older people have grown more prosperous over the years and the decades. Older women have done best of all.

The dividing line between those getting richer or poorer: the year 1955. If you were born before that, you’re part of a generation enjoying a four-decade run of historic income growth. Every generation after that is now sinking economically.

Monday, August 24, 2009

Damn! Cars cost more than a quality hooker.

We should all buy horses instead.
It’s amazing how fast that adds up, isn’t it? We’re talking $750 a month just to drive a middle of the road sedan. And that’s with a 20% down payment, a good credit score that gets you a decent interest rate, and a clean driving record that keeps your insurance premiums down. Just imagine if you can’t get a rate for 7%, don’t put any money down, or your insurance premiums are nearly double because of a few tickets on your driving record. You could easily be approaching $1,000 a month. If you earn $40,000 a year you’re spending nearly 25% of your gross income on a vehicle that only decreases in value each year that you own it.

Thursday, August 6, 2009

Sumthin's fishy here

A dude wrote a book about how this recession we're in nearly drove him to suicide and how this latest recession brought Gen X into some form of economic reality.

If he didn't live thru the Tech Bubble Burst of 2000, and this is his first taste of financial despair, I'm guessing he's a Millenial that mistakenly has associated himself with Gen X.
For Generation X, the great boom at the beginning of this millennium meant high-living to the extreme. For local Gen X author Oliver Galang, it was all about casino gambling, women, parties and money. When the Great Recession of 2008-2009 hit, it was a sharp thud for this generation - thrusting Galang to the point of suicide.

Tuesday, July 21, 2009

We're All Reagan Youth

Actually, I'm kidding. Ronnie drove this country into crazy debt and he's hardly an example to use when discussing fiscal responsibility. But I hope she's correct that we are more responsible with our loot. Although, I doubt it.
Growing up on MTV, video games and microwave dinners, our Generation X'ers have become far more fiscally conservative than past generations.

Born between 1966 and 1982, our group witnessed our baby boomer parents sell out their "make love, not war" ideologies for BMW's, stock portfolios and kitchen extensions.

Wednesday, July 8, 2009

No one listened to Jeremy

Maybe this time around.
Your Home May Be Your Greatest Asset, But It Still Isn’t An Investment

Wednesday, May 6, 2009

These bloggers must be Xsters

Thrifty advice for you broke ass beeeeyoooootches! Since their site is called Get Rich Slowly they seem to be in touch with reality. They'll never get a job at CNBC now.

In this era of financial ruins I now understand how a common person may feel tempted to buy a ski mask and revolver and make a little extra on the side.