More than 60% of Americans are living paycheck to paycheck. Here's what researchers say is to blame.

[Adumbration]

22 hours ago, BritManToo said:

Most people don't earn enough to get ahead any more. It's not like it was in the west when we were in the workforce.

Very true.  I honestly don't know why the young in most western countries dont engage in mass civil disobedience.  The situation is now so ludicrous in Australia for example a couple both on 100K a year still cannot save enough to put a deposit on a house.  Birth rate is plummeting for obvious reasons and the government is just importing my immigrants to shore up the ponzi scheme.

 

When I was very young in Australia you could almost pay a mortgage on a cheap little house if you were on the dole (social security).

 

Now a young couple with 200K combined income cant even save a deposit.

 

Something has to snap soon....and not just in Australia.

[GypsyT]

I retired at 53 ????

 

Thank you America!

 

But never stopped making deals, sales and ideas are still coming and going and some are bringing little extra. But no stress.

[Sticky Rice Balls]

29 minutes ago, KhunLA said:

I'm not at poverty level, but I also don't even need to file a tax return.  Too poor in the eyes of IRS.  

 

Debt free, with ridiculously low 'mandatory' monthly outflow:

... ~฿150 for water

... ฿27 conx fee to PEA (solar)

... feed ourselves & dog ฿10k

 

Other monthly expenses revolve around unnecessary transport cost.  Unnecessary, as everything needed is within walking or bicycle distance.

... car & scooter (EVs) ins, registration maintenance -฿2000

... home & phone internet/call service <฿1400

 

My pittance of a company pension covers that.

My Soc Sec is enough alone for Ret. Visa, if wanting, I could actually save all of that.   Though we do fail miserably trying to spend it.  Damn CCs.

 

Obviously took a few satang, to be mortgage/rent, car/scooter payment free.  Quick ROI, especially since banks don't give much of anything for saving.  So spend it, as worth more today than tomorrow, if saved.

yep   go home to work..get the money--come to LOS and stretch it 3x for a better quality of life...been working for me for past 15 yrs..........more bang for my baht.....so to speak

[Isaan sailor]

The retirement I have now in Thailand is the same or better than the retirement I would have had in America.  The same until my American ex-wife divorced me.  That pushed my retirement to Thailand.  No regrets.

[youreavinalaff]

58 minutes ago, Adumbration said:

Very true.  I honestly don't know why the young in most western countries dont engage in mass civil disobedience.

Because things are not as bad as people like to make out.

 

[Chomper Higgot]

14 minutes ago, youreavinalaff said:

Because things are not as bad as people like to make out.

 

Perhaps not for you they’re not.

 

 

[KhunLA]

1 hour ago, Isaan sailor said:

The retirement I have now in Thailand is the same or better than the retirement I would have had in America.  The same until my American ex-wife divorced me.  That pushed my retirement to Thailand.  No regrets.

My retirement here is about the same as it would be in the USA ... BUT ... probably a bit less pocket change, and healthcare if needed would use up my oops fund a lot faster, even though having Medicare A & B.  As what that cost, I doubt if I can get that sick here/TH.

 

Plan B ... $2000 / ฿70k a year.

Not counting the deductibles, that cost more than the meds here ????

Along with the Q to see the doc, for the referral to see the specialist, to Q for that, and if hospital stay, Q up for that, with huge deductibles all the way.

 

All total, more than instant, accessible treatment here/TH.  At the same price, without the need for monthly B premiums.

 

3 years here, and about ฿300k less spent, since no premiums, to have Medicare & see a doc, and I haven't spent that much here yet, with the couple med oops that I've had.  Including check up to monitor things, which wouldn't happen in USA.

 

Posted earlier, EKG here <$6, USA, start of $525 / 10 or 20% deductible, $50-$100, beside the 2 doc visits w/deductibles, maybe $40,   So, cheapest 100-150 dollars, plus wait time, for a < $7 visit for the test here, all in ????

 

Actually, todays $$$, I've been here 23 yrs, so say 20 X 2000 = $40k USD, Plan B would have cost me already if I retired in USA, all things being equal.   I can't get that sick here.  So I'm ฿1.3M ahead already, by living in TH, and not have Plan be for past 23+ years.

 

USA ... NO THANKS

Edited September 2, 2023 by KhunLA

[youreavinalaff]

1 hour ago, Chomper Higgot said:

Perhaps not for you they’re not.

 

 

And the vast majority of people who don't believe everything they see in the media and actually go and look for themselves.

 

Those that are OK with working for a living, saving for things and taking care of themselves without expecting the government to catch them when they fall.

[Chomper Higgot]

Just now, youreavinalaff said:

And the vast majority of people who don't believe everything they see in the media and actually go and look for themselves.

 

Those that are OK with working for a living, saving for things and taking care of themselves without expecting the government to catch them when they fall.

Financial circumstances are not determined by what people believe in the media.

[BritManToo]

1 hour ago, Isaan sailor said:

The retirement I have now in Thailand is the same or better than the retirement I would have had in America.  The same until my American ex-wife divorced me.  That pushed my retirement to Thailand.  No regrets.

Same!

[EVENKEEL]

Glad I sucked it up and stayed with fed employment. Was able to keep my BC/BS overseas Ins. 

[youreavinalaff]

16 minutes ago, Chomper Higgot said:

Financial circumstances are not determined by what people believe in the media.

You are quite right. 

 

They are defined by the part of my post you chose to ignore.

[Tug]

10 hours ago, Danderman123 said:

So, history shows that increasing the taxes on the rich generates a more prosperous economy. You are simply trying to rationalize why the history is meaningless.

 

As for Clinton borrowing money from the Social Security trust fund, Ronald Reagan was the first to do that, in 1983. Because he lowered taxes on the rich, and the deficit blew up.

 

 

I remember Reagan’s voodoo economics what a load of b@!as for myself what worked for me was (after my misspent youth lol ????)was getting married and just putting my head down nose to the grindstone!trying not to make mistakes frugal use of credit when vacation time came around do some home projects remodel the kitchen or drywall the garage driving used cars (Toyota) then with excellent credit bought more properties doing the maintenance myself.Union membership helped a great deal as well.it’s doable but one MUST avoid temptation work your fanney off unions help above all be really really careful with credit it will turn you into a slave and ruin your future 

[Chomper Higgot]

1 hour ago, youreavinalaff said:

You are quite right. 

 

They are defined by the part of my post you chose to ignore.

No they are not,

 

They are determined by the gap between income and expenditure.

 

Millions don’t earn enough to cover basic and essential needs.

 

[youreavinalaff]

2 hours ago, Chomper Higgot said:

They are determined by the gap between income and expenditure.

I'm glad you agree.

 

 

[scorecard]

On 9/1/2023 at 7:12 PM, ballpoint said:

The country itself is living beyond its means.  Something's got to give.

True. Seems to me uncontrolled capitalism is partly to blame. 

 

I believe price controls, price limits / maximum prices on specific product / service areas (e.g. food, education, health. medicines, energy) will be needed in the near future. 

Edited September 2, 2023 by scorecard

[Mike Teavee]

3 hours ago, Chomper Higgot said:

No they are not,

 

They are determined by the gap between income and expenditure.

 

Millions don’t earn enough to cover basic and essential needs.

 

Not sure if our American cousins ever came across (Charles) Dickens at school but I always remember the quote…

 

“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness”.

“Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”

[Nick Carter icp]

5 minutes ago, Mike Teavee said:

Not sure if our American cousins ever came across (Charles) Dickens at school but I always remember the quote…

 

“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness”.

“Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”

inshort : its better to live within your means 

[Nick Carter icp]

5 minutes ago, Mike Teavee said:

Not sure if our American cousins ever came across (Charles) Dickens at school but I always remember the quote…

 

“Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness”.

“Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”

inshort : its better to live within your means 

[scorecard]

10 hours ago, Scott Tracy said:

Ooooh, socialism, controversial.

Not in many countries.

Strongly endorsed in many countries. 

[Chomper Higgot]

5 hours ago, youreavinalaff said:

I'm glad you agree.

 

 

We don’t, that’s why you selectively edited my post in your response.

[Chomper Higgot]

3 hours ago, Nick Carter icp said:

inshort : its better to live within your means 

All well and Dandy until one’s means do not meet one’s basic needs.

[youreavinalaff]

Just now, Chomper Higgot said:

We don’t, that’s why you selectively edited my post in your response.

I agree. That's why you ignore parts of my posts you don't like.

 

Anyway, I agree with what you say. Income and outgoings defines one's financial status. Overspending creates issues in life.

[Chomper Higgot]

1 hour ago, youreavinalaff said:

I agree. That's why you ignore parts of my posts you don't like.

 

Anyway, I agree with what you say. Income and outgoings defines one's financial status. Overspending creates issues in life.

Do you have evidence that people on low incomes unable to meet their basic needs are ‘overspending’.

 

[Tug]

15 minutes ago, Chomper Higgot said:

Do you have evidence that people on low incomes unable to meet their basic needs are ‘overspending’.

 

Thankfully under this administration wages are rising.now it’s housing and energy costs are the biggest culprits then education social pressures and personal discipline contributing greatly you can succeed here but you have to work and be disciplined + it doesn’t happen overnight 

[Skipalongcassidy]

25 minutes ago, Tug said:

Thankfully under this administration wages are rising.now it’s housing and energy costs are the biggest culprits then education social pressures and personal discipline contributing greatly you can succeed here but you have to work and be disciplined + it doesn’t happen overnight 

When a person's wages rise at a slower rate than inflation then they are by default becoming poorer... that is what bidenomics is doing to America

Edited September 2, 2023 by Skipalongcassidy

[Danderman123]

15 hours ago, EVENKEEL said:

I'm in favor of a flat tax. Everyone pays, say 15%. Everyone from the poorest to the richest pays the same %, no loopholes.

You're pretty consistent in trying to defend big tax cuts for the rich.

 

Eliminating business deductions would have a severe negative impact on the economy.

 

Same with eliminating the long term capital gains tax, it woukd stifle investment.

[Danderman123]

30 minutes ago, Skipalongcassidy said:

When a person's wages rise at a slower rate than inflation then they are by default becoming poorer... that is what bidenomics is doing to America

Inflation in the US is slowing down.

 

 

[Lacessit]

1 hour ago, Chomper Higgot said:

Do you have evidence that people on low incomes unable to meet their basic needs are ‘overspending’.

 

It depends on what one defines as needs. I have little sympathy for people on low incomes who smoke, drink, or do drugs.

[EVENKEEL]

14 minutes ago, Danderman123 said:

You're pretty consistent in trying to defend big tax cuts for the rich.

 

Eliminating business deductions would have a severe negative impact on the economy.

 

Same with eliminating the long term capital gains tax, it woukd stifle investment.

The tax rate is higher for the rich after they woddle through all the loop holes. But, if you allow only the basic deductions and charge 15%. Folks complain about the rich not paying taxes, or very little. This would solve that.