Full Circle’s Mutterings on Money
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15-04-2016, 11:53 AM
RE: Full Circle’s Mutterings on Money
(13-04-2016 05:15 PM)Full Circle Wrote:  underground,

I’m afraid most of the points you bring up are outside the scope of this thread. I’d prefer not to derail it if you don’t mind. Thanks.
As for retirement lump sums, every company is different. The government pays you social security benefits on an ongoing basis.

FC

I mentioned loans and retirement money. How is that irrelevant to the thread? Consider

If it wasn't for loans, no one would need to invest in order to live comfortably. Just sayin'.

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15-04-2016, 12:03 PM
RE: Full Circle’s Mutterings on Money
(13-04-2016 03:11 PM)undergroundp Wrote:  Do people in the US get a lump sum on their retirement? It can be quite a significant amount here in Greece (or at least it was in the past) and, combined with a pension, it’s definitely more than enough for a normal life.

As for retirement lump sums, every company is different. The government pays you social security benefits on an ongoing basis.

(13-04-2016 03:11 PM)‘undergroundp Wrote:  Loans seem to be the problem everywhere. I hate loans. I hope I will never need one. I honestly don't get why people can't simply wait until they've saved enough money to buy a house or whatever. Banks are fucking evil and most of the times, they will end up being paid back tenfold (or more).

Is there a question in there somewhere?

(13-04-2016 03:11 PM)undergroundp Wrote:  Also, what kind of third world country doesn't have free education? Getting a loan before you're even an adult is fucking insane. How can you guys not stand up to that? You either have to be rich, poor or uneducated?

Outside the scope of this thread.

BTW I didn’t say irrelevant, I’m saying specific points are outside the scope of this thread. Please don’t take offense.

My intent here is to discuss investing, not delve into politics. Thanks for your understanding.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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15-04-2016, 01:29 PM
RE: Full Circle’s Mutterings on Money
(15-04-2016 12:03 PM)Full Circle Wrote:  As for retirement lump sums, every company is different. The government pays you social security benefits on an ongoing basis.

I'm not sure we're talking about the same thing. I'm talking about a sum of money that the government pays you when you retire (which is withheld from your salary every month for as long as you are employed). I'm asking if it happens that way there too.

(15-04-2016 12:03 PM)Full Circle Wrote:  Is there a question in there somewhere?

No, it's more like a comment. Investments sound pretty insane to people who have nothing. I'm wondering why people choose to have a debt and then invest to get out of it. It just doesn't make sense to me.

(15-04-2016 12:03 PM)Full Circle Wrote:  Outside the scope of this thread.

BTW I didn’t say irrelevant, I’m saying specific points are outside the scope of this thread. Please don’t take offense.

My intent here is to discuss investing, not delve into politics. Thanks for your understanding.

No offense taken.

I'm just commenting and asking things, expressing the thoughts this thread creates in my head. Nothing more.

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15-04-2016, 01:48 PM
RE: Full Circle’s Mutterings on Money
(15-04-2016 01:29 PM)undergroundp Wrote:  
(15-04-2016 12:03 PM)Full Circle Wrote:  As for retirement lump sums, every company is different. The government pays you social security benefits on an ongoing basis.

I'm not sure we're talking about the same thing. I'm talking about a sum of money that the government pays you when you retire (which is withheld from your salary every month for as long as you are employed). I’m asking if it happens that way there too.

In the USA there is no such thing. You pay into a Social Security fund throughout your working life and then after you retire you begin to draw from it. The when and amounts differ for each individual depending on how much they put in and at what age they begin to draw out.

(15-04-2016 01:29 PM)‘undergroundp’ Wrote:  
(15-04-2016 12:03 PM)Full Circle Wrote:  Is there a question in there somewhere?

No, it's more like a comment. Investments sound pretty insane to people who have nothing. I'm wondering why people choose to have a debt and then invest to get out of it. It just doesn’t make sense to me.

I don’t know. I have mentioned on this thread somewhere that here in the US financial literacy is poor and that school curriculum on finance is inadequate.

(15-04-2016 01:29 PM)‘undergroundp’ Wrote:  
(15-04-2016 12:03 PM)Full Circle Wrote:  Outside the scope of this thread.

BTW I didn’t say irrelevant, I’m saying specific points are outside the scope of this thread. Please don’t take offense.

My intent here is to discuss investing, not delve into politics. Thanks for your understanding.


No offense taken.

I'm just commenting and asking things, expressing the thoughts this thread creates in my head. Nothing more.

Good, I hope I didn’t upset you, not my intent.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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30-05-2016, 09:49 PM
RE: Full Circle’s Mutterings on Money
It is a sad state of affairs that 46% of Americans polled can’t come up with $400 in a pinch.

These 7 data points reveal the sorry state of Americans’ finances

“About 46% of adults who responded to the Fed’s survey said they could not cover an emergency expense of $400 without selling something or borrowing money.”

http://www.marketwatch.com/story/7-shock...2016-05-27

1. Americans have very little in emergency savings
2. They still can’t afford some health-care costs
3. A large number of adults have absolutely no retirement savings
4. Even those with retirement savings are unsure how to invest
5. Student loans aren’t the only kind of education-related debt
6. Many are still not completing higher education
7. People like buying new cars, but don’t always have a plan for how to pay for them

Somehow #7 doesn’t come as a surprise.

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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15-06-2016, 10:03 PM
RE: Full Circle’s Mutterings on Money
John Oliver on retirement plans, nails it.




“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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24-07-2016, 08:36 AM
RE: Full Circle’s Mutterings on Money
Take a 6 question quiz on financial literacy and see how you do.

http://www.usfinancialcapability.org/quiz.php

From the article:

"Americans have grown more confident about their financial acumen since the market meltdown that ended in 2009. Yet they seem to know less about the subject than they did then.

And most people didn’t even know much about it in 2009.”

I just love this Dunning-Kruger Effect:

"An alarming aspect of the study is that although most people knew very little, they felt great about what they knew — or thought they knew. “Americans tend to have positively biased self-perceptions of their financial knowledge,” the study said. And the positive bias has been increasing.”

http://www.nytimes.com/2016/07/24/your-m....html?_r=0

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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24-07-2016, 05:52 PM
RE: Full Circle’s Mutterings on Money
(30-01-2016 01:56 PM)GirlyMan Wrote:  
(30-01-2016 01:48 PM)Full Circle Wrote:  Philosophy:
Money = freedom

Only to the point where it becomes a fixation. Then it is enslaving.

I will gladly free you from that enslavement Girly.
I'll PM my bank account number.
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25-07-2016, 02:07 AM
RE: Full Circle’s Mutterings on Money
(24-07-2016 08:36 AM)Full Circle Wrote:  Take a 6 question quiz on financial literacy and see how you do.

http://www.usfinancialcapability.org/quiz.php

4/6. Nothing spectacular, but not bad either I would say.

The first revolt is against the supreme tyranny of theology, of the phantom of God. As long as we have a master in heaven, we will be slaves on earth.

Mikhail Bakunin.
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25-07-2016, 05:48 AM
RE: Full Circle’s Mutterings on Money
(24-07-2016 05:52 PM)earmuffs Wrote:  
(30-01-2016 01:56 PM)GirlyMan Wrote:  Only to the point where it becomes a fixation. Then it is enslaving.

I will gladly free you from that enslavement Girly.
I'll PM my bank account number.

You sir, are a gentleman. Always thinking of others. Thumbsup

Big Grin

“I am quite sure now that often, very often, in matters concerning religion and politics a man’s reasoning powers are not above the monkey’s.”~Mark Twain
“Ocean: A body of water occupying about two-thirds of a world made for man - who has no gills.”~ Ambrose Bierce
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