I am in my 60s. When I was young, the man who worked at the meat counter at the small local grocery store was able to afford a home-and his wife stayed home and raised their children. The homes were not large, but they were well cared for and well manicured. The lawns were perfect and there were barbecues in the yard for all the neighbors in the summer after the men got home from work at five or 530. I remember having breakfast with my dad before he went to work; he did not have to leave at 6 AM to beat the traffic. Everything has broken.
My Fiancee's Grandmother is in her mid 80's and finally retired this month... Not because she was finally able to afford to but because the entire family is pulling their resources together, taking extra hours at work, to cover her expenses for her so she can finally relax and enjoy what time she has left. She's certainly earned it!
I was a nurse for forty years and always saved for retirement (no pension). My coworkers that earned the same salary had gorgeous homes, pools, expensive vacations,new cars etc. They will never be able to retire whereas I retired comfortably at 62.
I was a divorced woman and raised 2 kids. I’m a retired nurse also. I retired, own my home and am doing fine. But I planned for it. I did work until my full retirement age. 66 and 6 mos.
I become emotional whenever retirement comes to mind. I offer my heartfelt apologies to those who, after years of diligent work and saving for retirement, faced unexpected events that led to significant losses. This situation is especially harsh for retirees
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That is very true I am retired and went back to work part time and I am sixty nine years old I been working for almost forty years. It seems our government helped the migrants more than the people that live and contribute to this country.
Why only 40 years? I worked since age 16, and from age 11 anything I needed other than food and roof over my head I paid for with money I made babysitting. Still working with chronic health problems.
Yup just like these tax breaks for people just because they have children. Just ridiculous socialism. Everyone should be paying a flat tax rate. Irresponsible people that can't afford kids are having them and are supported by responsible people not having them because they can't afford them. Completely backwards
There's an old man that can barely walk around working at the gym I go to and he slowly goes around wiping off all the equipment. It makes me feel a little better when I go in the locker room though and see him just chilling sitting down watching the TV on the screen.
Most of them squandered everything. They lived through the greatest time in the greatest country in the history of the world. Maybe all the money thrown into those f-150’s over the years would help today?
Dr. Phil, you’re barely realizing this! I’ve been knowing this for years. My friends that were on assistance would be taking their children to Disneyland all the time and everything and my broke butt, and my family would be going to the Swap Meet for fun. So I know exactly what this is about but this is nothing new. This has been going on for years since the 1980s and even longer.
I have neighbors on public assistance and you're right...all their health care, utilities and cell phones are paid for courtesy of the hard-working taxpayer. They keep having kids and fostering their irresponsible relatives' kids, even tho CPS has removed the children from their "home" multiple times. The house has to be fumigated multiple times a year. They don't teach their kids to place trash in wastebasket- they just throw is all over the yard or drop on the sidewalk as they walk along unwrapping the free food they get at the local food bank. Most wasteful people I've ever seen. PEOPLE DONT VALUE WHAT THEY DONT HAVE TO WORK FOR.
@@stevenweiss2148 first it's rude to call people with goals nuts. Second Avalons frequently clock over 350k and a friend of mine once saw one at the dealership for an oil change with 675k. Try to be kinder in the future and don't call people names. You are the keeper not of all knowledge and acting as if you are is narcissistic. .
I would like to see the balance sheet and expense sheet for these people. First couple: Broke, but has a nice house with fireplace and updated kitchen, and has expensive looking clothing. Old Lady: Broke, but has Apple laptop, probably paid at LEAST $1,000 for it, and has a nice house. Maybe these people are simply living above their means?
True situation: Retired and on SS. Govt "leaders" just touted a 2.5% COLA. However, the Medicare & Part D withholdings increased, and now our SS is $85 LESS than in '24! WTF!!!
I'm 67yo and still working F/T, hoping to go to 70yo, then retire to get that larger SS payment. But I'm trying to figure out how to financially afford going on SS! Wow. Been researching these last two years. SHOCKER, and pissed off!! Cannot believe how our gov't has squandered all the money we've paid in, us & our employers. It was meant to be our retirement. Our gov't has failed us at every turn.
Same! I made it to retirement at 52, 4 years ago, from a grocery clerk job and saving investing 25% or more of my income since 21. My dad pushed me to save for the future me and I listened. The problem today is our floor (expectations) are too high! Cable, streaming services, expensive cell plans, new car, going out to eat several times a week, expensive vacations, larger homes, expensive coffees, smoking, drinking, gambling etc. The average household spends a min of $1k on un-necessary things and they don’t save to get ahead with it. I went “years” with $150 a month allowance. I’m only on my 4th car and the first 2 were 10 yrs old when I first purchased them. My 1st new car was driven by me for 19 yrs. I still use a tracfone but recently upgraded to a $20 monthly plan with them. I still use low a/c and heat, low water, cheaper vacations. My wife and I still only eat out 1-2 times a per week. I still live below my means and I’ve increased 10x my old allowance. I’ve gotten used to the lifestyle. In the end we get what we “wanted”! Most want to live for now, and that’s ok. But they need to keep working till much later in life! There is no “free lunch”.
Yup definitely possible and even on low income. If you start saving early enough it's not that difficult and you can save a small percentage with company match. Most people play the victim and prioritize netflix over financial education.
Have girls day without going anywhere and spending money is possible. Make lunch and go somewhere like the park. Mommy can still be a super-hero without spending money.
Houses used to be a lot smaller. Therefore, they were cheaper to buy. Now everyone wants to have larger houses they can’t afford. Starter houses used to be a thing.
People don't want those homes. I just saw an article about how they are building all these luxury apartments no one wants, but eventually someone always rents them. They tore down the little homes to make huge ones so people are getting stuck in apartment living instead of buying a 'starter home'
I bought a little house 10 years ago. My family make fun of me and looked down on me. When I had my daughter I was able to work part time. I drive an older car. Some people miss manage money. They don’t need half the stuff they waste money on.
@@j.peluso2139 I did the same. We bought a townhouse in a suburb that everyone laughed at us. Paid it off before 30 & then sold that and built a house. Bought most things 2nd hand, practiced minimalism & worked part time while raising our son. It’s good for the environment too.
What is "living above their means"?? Because they are teachers do they deserve to live on ramen? Your job is pretty rough and it's a giving job and it's an important job. The standard of living has been raised for a while now. The expectations have raised. We have young adults thinking they should afford to be able to go out and drink and out to eat weekly and travel monthly to every other month. So when I ask, that question, I'm generally curious. Often this is subjective and the answer is usually what can you live without which is purely subjective.
@@Dr.Beetlejuice110 you can talk about what should be but the reality is, being a teacher is not a good path for financial success and thriving. It doesn't matter what should or shouldn't be because the reality is, it's not a good paying career choice. Too many people do what they like or want to do without factoring whether or not it's a good financial decision. There's many things I would like to do but they will not fund the stable and peaceful thriving retirement that I want for myself. Living above their means is a simple way of saying they're current lifestyle requires more money than they are bringing home. If you choose a career path that only offers you enough money to pay bills and eat ramen, then yes, you need to eat ramen. If you want to eat better than ramen, you need to do something to make more money otherwise you are living above your means. Again, it doesn't matter what should be, it only matters what is in reality. If someone wants to be a teacher, they have to accept that they are going to make a low income and if they can make that work, then that's great and they will do what they love to do. If a woman wants to be a teacher because she's passionate about it and has a husband who makes enough income to justify her going into a field that does not pay very well, then that works and that's great. But for someone who does not have that financial freedom to choose a low paying career, it's foolish to remain a teacher and they should instead find a better career choice that will pay them the income they need. What should be does not matter. Only reality matters. A teacher who is working their butt off and eating ramen everyday should be motivated to find a better career choice, and hopefully learn to start and grow a business. Something that will change their lives forever and provide exponential financial growth. It's not as difficult as a lot of people make it out to be. I did it twice by the time I was 29 and I'm nothing special. I became the owner of two businesses at the age of 29 and I did not come from money and I was a high school dropout. I am nothing special and in fact, I am likely below the average American citizen on paper when it comes to projected success however, I was fortunate enough to be born with a mind that doesn't accept what "should be" And I don't allow myself to be a victim or to say that things are unfair. A teacher or anyone for that matter can choose a different path if the path they are on currently is not working. There's no need to be sorry for them or to victimize them. People can choose to be almost anything they want and if someone is struggling financially as a teacher but wants to remain a teacher, they are making the choice to continue struggling financially. They could make a different choice. They should be motivated to make a different choice, chart out a new plan and then execute the steps on that plan. They are not a victim of anything other than the outcome of their own decisions. People need to make better choices in adapt when things are not working. It really is that simple.
@ I think you answered your own question. They want to live “high on the hog” as we used to say, and not have to budget or forego eating out, endless streaming services, expensive cell phones, etc, etc. I had zero sympathy for this couple who are living a very nice life.
I agree. They make good money but they want to buy everything without budgeting. He said they want this they want that but they can't so he feels bad. It is just want so they are living well off.
You need to move out of sanctuary states. You will see the difference. We used to leave in California. Now we living in single income. And we doing ok. I used to work all week. And still not enough. And won’t have time for your family and kids anymore.
When my son was about 12, I used to take Monopoly money and print out the bills. I showed him the in and outs of money. I allowed him to help make decisions about anything extra we had to do something fun like bowling, movies, or dining out. He saw the realities of how hard it is finacially. He now has a family and his wife stays home with their kids, it's a sacrifice but he understands the reality of in and out.
This is not the first generation feeling the squeeze. I am single and I have a chemistry degree but the government takes one third of my salary for taxes each year which puts me at low poverty level income.
I encouraged my kids to live at home and go to college locally. They will graduate without debt thankfully. That will be the biggest leg up they could get is to start life as adults debt free.
So are we. Our daughters are living at home, working full time and paying for college and saving for the future. That was the leg up. To have savings , and be debt free and educated, and to invest the money they earn, so when they are done with College, they will have money , assets and a future. Debt free. I told them, our home is fully paid for, so I'm not charging you rent, but you must maximize the time you have and the money you earn , you must make it grow and work for you. That's the gift I'm giving them.
That's what I did..and worked 2 and 3 jobs while carrying full class load..no vacations and no spring breaks. College has turned into a very expensive 4 years of partying.
Part where he said "I went to college and did everything I'm supposed to" is a major problem. People need to stop thinking about what they are " supposed to do" and start doing what works and makes sense for them in accordance to their goals and overall plan to reach their goals. Going to college does not inherently make you more valuable, more hireable, or more likely to achieve success in life. In fact, for the average person, it's a completely unnecessary waste of time and money that could have been spent building a career, starting a business, or simply working on themselves. While business ownership is not for everyone and it requires a lot out of you, it's far more doable than many people realize and you don't have to be born rich to start and grow a business from the ground up. I wish more people would learn how to start a business, grow a business, leverage their money, and make wise investments that will fuel in fund a proper retirement in their later years. You got to stop thinking about what you are "supposed" to do. That mindset says a lot about a person and breaking free from it will be one of the most rewarding things a person can do.
Thank you for pointing this out! I went to college as well. I can’t find a job due to lack of 3+ years of experience. To be honest, my interests have changed since I graduated and if could go to a trade school and do it all over again, I would.
@@Hg71996couldn't agree more. People spend too much time complaining about things rather than actually making sacrifices and writing out a plan and executing their plan to achieve their own success. Removing the stigma would only make people more comfortable with their own failures to launch. Not a good thing
@@TheHeartWeCarryno offense but what the hell does that even mean? Taking care of each other? How does that have anything to do with removing the stigma behind living with your parents into your adulthood? Are you saying that in order to be successful, you need other people to take care of you? That's very dangerous thinking my friend. People need to stop relying on other people and instead, chart their own path, map out their own plan for success, and execute the steps on that plan. There are many different routes to success but the average person these days spends almost no time working their plan if they even have one and instead they spend all their time complaining or self-medicating and distracting themselves while continuing their daily cycle which doesn't work for them. I'm not sure what you are referring to when you say people don't take care of each other. Furthermore there are plenty of people who take care of others but how does that have anything to do with motivating a person to get tired of living with their parents and their adulthood and Make something of themselves?
The problem is most kids try to talk their parents into living with them for free while the kid lives large. Problem is kids up to like even 21 don't understand how much it actually cost to live. They think "well I'm not home all the time... I only watch TV at night... why should I pay rent" they don't realize that property taxes are due even if you weren't home for a full year. My moms dealing with this now with a family member. She's living in an RV on the land & thinks she doesn't have to pay because she's not using utilities. All while my mom is 1 big bill away from being homeless. I don't trust kids now.
@dcallahan2074 My thoughts EXACTLY ! YOU took a pay cut……YOU signed for $100,000 in student loans ! Did you think it would magically pay itself off !?!?
And no health insurance for the family. I understand that what is going on in the public schools is nauseating these days, but you can’t just walk away from a job that has a pension and benefits.
This young lady is an exception. She, clearly has had a support system & didn't get the negative messages growing up that quite a lot of people grow up with 🙂
There is personal responsibility upon all of us to live below our means that never really gets discussed because it removes the victim label. By insisting on being powerless, you don't look at problems that can be solved by your own behaviour and that in itself is the biggest problem. I don't disagree that times are tough but there are things you can do to help yourself. Driving the cars you "want" to drive or owning the home you "want" to own will lead everyone to financial ruin. Moderation and contentment is key xx
It's impossible. I have my own home. It's falling apart because I had cancer and couldn't work so I went on disability. Making 900 a month when my home bills are around 2k a month. I'm almost homeless now because everyone got $15 an hour raise while my disability check only went up 30 bucks.
This is so relatable. I see older family members well into their retirement but not able to retire working full-time and over time multiple jobs. If you are employed full time The system tells you you make too much money yet you don't make enough to afford your health care costs or your basic needs let alone do anything extra. Kids are going to suffer the most out of all this because this is a complete breakdown of the family unit. parents are stressed and exhausted. This government is spending billions just within our own country as handouts to people that don't contribute not because they can't but because they don't want to They don't choose to but then there's this nice couple up here and all they want to do is what they were told that they would be able to do if they worked hard. Schools should fund sports and extracurricular activities like they used to. That's what our school taxes should go to. I hope that the couple here in the video can keep their heads up and even when they feel like they're the ones that are failing I hope that they know they're not It's our system that has failed them. 🙏
Yes, our system ha failed them. They believed the lies that you must have a degree or you'll never have a good job. Unfortunately many institutions, organizations, etc., have taught that, it's a lie. It was all about the colleges, universities making TONS of money, and, corrupting your mind. Don't drink any more of their kool-aid! Go out and find a Trade that you like, research the Trade schools for it and the employment opportunities, and you may have to move to another state.
I just called the library in the town where I live & rented a copy of Dr. Phil’s book called “We’ve Got Issues,” thank you Dr.Phil for making this available to those who need it most & it’s free to read.
how do they not have health care for their children? Teachers get healthcare for themselves and their families. Private schools do not pay as much and are not obligated to provide extras for employees. Why would you leave your public school teaching position for a private school? I am an educator in a public school and I would not leave for a private school. Why? Because you were not "making a difference" I do not believe that is the reason you left and took an $8,000 pay cut. I am sorry and agree with our economy, why leave the job that paid more and had benefits? Your personal reason of "not making a difference" has not served your family, why?
I’m 59 have worked full-time and two part-time jobs since my divorce in 1989. I have two daughters one in college who I do what I can do for her. My oldest daughter graduated from college with a masters a few years ago. They are amazing young women. My oldest daughter I worked all the time so rarely saw her. And we all know what happened there. My youngest daughter I just did my best to work around her schedule. There is no getting ahead and it is so stressful. I have not gone one day of my life without stress. Always worried about money.
I remember when people worked for a home family, jewelry sports cars vacation homes vacations. Now I work to eat and pay car note and I don't have a family to support. How would I ever provide.
Your guests are all beautiful and deserving people ❤ for Latisha, there have been some times in my life where I had to say "Today, I have everything I need," just to keep fear at bay. Your family is a treasure; hold tight to each other 🫂
A majority of people are unwilling to make the changes to lifestyle to get ahead. Take the first couple. 4 jobs and they say there is no money after rent and food. thats a red flag right there on how they are living their life.
@@fchappell True to point. $100,000 student loan debt to get a teaching degree is on him. Oh, and so are the 2 cars with 25% interest rates. Yes, the deck is stacked against us, but, if we dig the hole.......
My wife and I haven’t been out to dinner in a year. We never just go shopping, cause is fun. We stay home in vacation. Enjoy the simple things. Exactly why we have 10 of thousands saved. Plus retirement. Zero debt! Because we worked for a goal. Not for the moment!!! So some day, we don’t have to work!! Get back to basics!!!
I’m sorry. But when the man said he had $100,000 in student loan debt I had no sympathy. Why??? That was a choice and a poor one at that. I get tired of listening to victim mentality.
They need to find Dave Ramsey! Their lives would be changed with some good, solid financial principles and training. They would also be changing their children's future and lives. It's never too late to change the course of your financial path.
Dr. Phil there are a ton of people using disability to stay home and not work! Not to mention all being compensated for in employment because they do not want to work. I know so many people who have been lying on disability for decades! They are more than capable of working! These people are lazy and leeching! While we are all working and struggling to survive!! It’s horrible.
I know two ladies in florida, one owns several houses and apartment complexes while being " mentally disabled" the other owns beach front property will being " mentally disabled" and trains people on acting crazy to get on disability! They say its all about being a good actor! They laugh all the way to the bank! 😮!
unfortunately became disabled and had to go on disability and got around $800 a month...(lost everything when husband divorced me) ...because of being on disability forced by government to retire at 62...now at 67 I get $980 a month...increase once a year in Jan that is around $24 more a month...the state I live in has increased through the roof...have to live with my brother otherwise i would be on the street...he works 2 jobs in order for us to just barely get by...apt rent alone is over $2600 a month...have to constantly scrimp and we do absolutely nothing extra...zero
It is very hard, my sister is in the same situation. She had to let her home go because insurance kept increasing along with added mandatory flood insurance. Her house note was almost as high as her disability check. We had her move in with us, fortunately we had the space for her. My husband and I are both retired and own our home. We were lucky enough to have saved for retirement but inflation is not helping us.
I will be at age 70 soon, and my bday wish is for God to help me find a job in my industry to help myself live a better life. There will never be a time for me to retire but I have to focus on staying healthy to take care of myself and no crying.
He was snookered into going to college without working, first, to get the money to go. HE made that choice. Others decided to work and stay out of debt. When I was growing up in the 70's if parent's didn't have the money, you didn't do things. I had to work beginning the summer of 7th grade. Every summer. When I reached Senior Hight school I worked after school. I had to prove and contribute to my needs. That money was mine but I learned the value of working to make purchases. Does that even go on these days with teens?
Wow! But if you don't have insurance, aren't you being charged a penalty when you file your annual income tax? Because the gov't mandated that, you HAVE to have a medical insurance policy! It's BS, but that's how our gov't leaders have failed us!!
The main problem is that most people have no financial literacy. A private school teacher is complaining about not being able to buy the car he wants? 😂 You are a private school teacher! If you wanted to drive nice cars you should’ve chosen a different profession my friend. And you don’t need to take on a ton of student loan debt to become a teacher. Make better financial decisions people!
Make no mistake it is tough out here. I can say too my grandparents raised 5 kids in a 1500 s.f. 3 bed 1 bath home. No trips, just little league and family cookouts. Times were simpler, yes, but so were their expectations. Their parents had gone through the Great Depression.
I had a beautiful life. We had food to eat ( maybe not our favorites), clothes on our backs ( often hand me downs), a warm home (not elaborate or even beautifully decorated. My mom was home taking care of us and my dad worked at a grocery store. I did not do extra curricular activities or go shopping for things we did not need. Needs and wants are very different. I think our culture finds way to buy wants and can not pay there rent. I know times are harder but I think people should stop trying to keep up with everybody else.
This is exactly why I left the US. My parents live paycheck to paycheck and are struggling to make ends meet, I didn't want to be a part of a broken society that punishes those who work hard and rewards those who do nothing. No society is perfect, nor ever will be, but there are quite a few other nations out there doing a whole lot better than the US is.
I make 2,000 a month pay 220 a month for health insurance and don't qualify for assistance to help pay for my blood clot medicine that cost 700 per month copay. I want to know which politician is living in this type of situation in America...
67 and still working full time.. house payments are low and no car payment. Part of the problem is our country is spoiled and our desires are greater than our means.
How come you still have a house payment at 67? I sacrificed everything to have my house paid off by 54. I live on less than $24k now and I'm debt free.
My daughter works full time pharmacy technician single mom of 1 can't make ends meet I help as much as I can financially and watch my grandson when I can
i was only penalized the first year and after that, there was a box to check that you could not afford the insurance now they don't even ask for taxes. i have not had health insurance from 2014 till today.
I'm a mom to an 11yo who has been raising her as a single mom since she was 3. I'm a custodian who gets paid once a month to the sum of $1089.23 after taxes are taken out (before taxes it's a little over $2000). Throw in food, clothes, bills, gas and pet food, I'm left with a little under $250 to last until I get paid again the next month. It's a struggle. That's why we don't vacation. She wants to go to Japan one day and I tell her "One day", knowing that I won't be able to help her get there. 😢
Hi from Okinawa Japan! Please check out your local Rotary Club or other organizations who will sponsor your child as an exchange student. We have hosted many young people from the USA and other countries. God Bless and prosper you and your family.
There's something wrong with yr paycheck deductions. No way they should be taking out almost 50% of your check earning so little. At 24,000 a year you with a child, your federal taxes end up being almost nothing at tax filing time.
The way to own a house in this day is to get a part time job at 16 and start saving while you live at home, stay at home while you save for your home down payment. Do not move out to rent or you will never own a house of your own.
Barely survive is good description of my retirement..I worked 40 years in Healthcare ,2 and 3 jobs to raise my 2 young daughters...Ex Military husband paid $ 100 per month. I retired at 70 because i couldn't do the work any longer..i have CHF...had a heart attack on 2020 and mild stroke in 2018 ...Retired and was ok until late 2021 ..then can't afford Food along with increasing Light bill, rent increase × 2 from October 2022 to January 2023. I'm 72 now...
I sympathize, and I do feel life has gotten a LOT more expensive these days, and the government is DEFINITELY misusing our money and my raises do not match inflation, for sure. However, I need to live within my means. I mean, my kids want things too.. so what? Sorry.. but if I said yes to every time my kids asked for something my wife and I would be in serious financial trouble. Financial planning is the key.
I have been in this situation and realized i put myself there, not the system. I know it's hard but a lot needs to change for yourself before this problem is ever fixed.
Every person's situation is different. I grew up knowing that when I graduated high school, I had better have a job because I would be out the door immediately if not. I always had part time jobs since I was 15. So after working full time the first 3 months after high school I bought a beater car and moved out on my own. I was not handed anything while growing up. But then again, the cost of living was low then and has gotten so out of control. My grandkids dont stand a chance to buy a house. They are all working but do not have college educations. They are treading water just to support their families and can barely afford rent. They struggle every week to eat, pay car payments, car insurance and gas and utilities. America shouldn't have to be this way. I pray that this economy improves with the new Administration because right now it's almost impossible to live.
They are indeed. I read it over and over on my FB Frugal Living Groups when they reach out for help in trying to budget. And when they do get to Social Security Age? If they were not married to the X more than 10 years they get nothing of his Social Security unless he dies and they haven't remarried. Anna In Ohio
The current system is absolutely unsustainable. We need drastic changes and we need them NOW. I’m part of GenX. The system now is NOT what we grew up knowing. We could hustle and save money. Now people have to hustle just to make ends meet. There’s no hope in this system and it’s a road to burn out.
That young woman who bought a house at 23 - did she live at home with her parents while she was saving? If she was renting she wouldn't be able to save enough money for a house.
I would have liked to hear more of the details about how she accomplished this. What was the income she used to qualify for a mtg? How did she pay for college and cost of living while (at the same time) saving enough money for a down payment? So many questions...😅
I retired in 2019. I had to go back to work in 2023 because inflation. I'm grateful my health is good enough to work, but I miss being retired. I dont live extravagantly, my social life consists of lunch with my friends. That's it.
Ain’t that the truth, I saw one person that said he was retirement age & still trying to pay off student loans. I got a G.E.D. & didn’t go to college, I worked my butt off at whatever jobs I could get, no lazy girls jobs for me. I am now retired with no debt, a small paid for house(kinda run down but it’s a roof over my head), a good car, paid for. I budget, am frugal & get by. It’s a struggle but that’s life. I am on s.s. & a very small pension.
Where's the basic breakdown of this first couples earnings versus costs? Playing the blame game without looking at the basic facts doesn't provide a clear look at things.
"I feel the guilt that we can't get to the neighborhood that we like, to get the car we want to drive", this attitude spells a lot of financial troubles 😅😅😅😅
I purchased the book we have issues, it’s a great read I am half way through it and it’s thought me so much I recommend it to anyone who has a desire to hear the basic truth about where we are as a society
I am 68 and my son and DIL brought me to live with them because I could not afford to live alone. I worked as a medical transcriptionist for 42 years and raised 2 kids alone without government aid. I still work 20 hours a week caring for elderly and a baby.😢
My mom told me no all the time. $100k student loan? They could have worked way through community college for teaching degree. Everyone I know was poor as young family. We felt poor every day. This was 50 years ago. Never once did I get a mommy daughter day. And I knew better than to ask for school or church extra curriculars. The first guests act as if they are entitled to all the luxuries because they work. I just cannot comprehend. I do empathisize with the elderly who don't own their home and have eliminated all debt.
I think it is the way that they see things or the way the world has told them it should be. They feel guilty because they see what others have but they are not seeing what others don't have. I used to have mom days with my kids and I was BROKE it doesn't cost money to go for a drive (except the gas). It is about one on one time with kids.
@ right! Why not get nail polish and have a home spa day? Or make cookies with sprinkles and pink lemonade? Go look at Christmas lights and take mock tails in fancy glasses. They'll remember that more than dropping $250 at a spa and restaurant. There's a million things you CAN do if you are poor and they make the BEST memories you get to brag about when you're old, debt free, living in luxury and only need to earn $1200 a month to pay ALL your monthly bills including groceries. I would tell my kids that those people with the fancy cars are in debt and buy things they can't afford are shallow and do so to look good because they are broke and empty inside. I would make sure my kids knew really looking good is being thankful and living in your means. My property taxes DOUBLED since 2021 so entitled teachers like these two get paid WAY more than I earn. I'm sorry but I'm no more responsible for their stupid student loan payments than I am paying for an illegal immigrant.
This is an old subject that shoukd of been addressed years ago. The "adults" in the room had one extremely clear message regarding this. "Just act like it's 1985, you lazy millennial." My parents had a similar stance and they wonder why I dont wanna have kids. This red flag was completely dismissed for years. Problems only become problems in this country when it affects people with power.
People collect welfare/disability then many of them did side jobs or sold drugs etc in my old town. They had lots of free time to fish or hang at the beach, while the rest of us worked so they could collect $1400 +
This couple is contributing to their issues. I feel the squeeze too, and I am a teacher too- but you can find another school that isn’t private school salary. You can work during summer. When people say schools are broken and the system is rigged… statements like that are vague victim mentality.
Pretty sad.. my son is a 35 year old and a veteran after 2 active deployments in Afghanistan and 1 tour in Korea and chose to get out after 8 years of service with combat injuries and treated like S#$t from VA in atl! Waiting for his benefits over a year now and the VA laugh at veterans when they call for help! People who fight for our country can't get help... people who work in America can't make it! Illegals get all for free and people who don't work get everything! It's discusting! America is broken! Pay loosers and mean to veterans and people who will work! Sick!
I do contacting for a billion dollar pathology lab and have been there for 10 years and they only pay me $20 hr!!! I’m a single mom and I know with my experience I can make more but I can’t afford to change jobs and wait 2 weeks for a paycheck !
This is awful! You have to find a way to gather enough funds to change jobs even if it means going on a pb & j and ramen noodle diet until you have saved enough. Are you getting a tax refund this year? If so, use those funds to help you change jobs. Any little windfall of money you get put it towards changing jobs!
I don't think everyone is "supposed" to go to college. The numbers don't add up when you will never pay the loan off. The pipe trades put you through a 5 year apprenticeship that comes with a free college degree, and in most locals you start off at close to $100k a year without even working overtime. I work with a welder who made $218k last year. I understand that it isn't for everyone, but most degrees lead to low paying careers.
I am so sick of the government and the baby boom generation ignoring the simple fact that we now have a full generation of people who went to college who can not afford to live on their own!
What exactly do you expect boomers to do? We were all just like you. We voted and then the chips fell where they fell. How much control do you seriously think we had over this train?
No, there is no longer a penalty if you are 67 years old which is full retirement age when you start collecting SS, so there is no limit on what you can make if you continue to work.
I am in my 60s. When I was young, the man who worked at the meat counter at the small local grocery store was able to afford a home-and his wife stayed home and raised their children. The homes were not large, but they were well cared for and well manicured. The lawns were perfect and there were barbecues in the yard for all the neighbors in the summer after the men got home from work at five or 530. I remember having breakfast with my dad before he went to work; he did not have to leave at 6 AM to beat the traffic. Everything has broken.
Sadly it’s been done intentionally
When was the Federal Reserve created..
Sounds like a nice time to live in
I miss those days
Everything has been centralized. Farms and stores and manufacturers all owned by the same. i aint tell you nothing, tho
My Fiancee's Grandmother is in her mid 80's and finally retired this month... Not because she was finally able to afford to but because the entire family is pulling their resources together, taking extra hours at work, to cover her expenses for her so she can finally relax and enjoy what time she has left. She's certainly earned it!
❤👵❤
What an amazing family!!!🎉❤❤❤
I love that for her. God bless the family.
@shannonjohnson4314 Thank you! 🙏 God Bless you! 🕊️🤍
Your family has understood the assignment!! ❤
I was a nurse for forty years and always saved for retirement (no pension). My coworkers that earned the same salary had gorgeous homes, pools, expensive vacations,new cars etc. They will never be able to retire whereas I retired comfortably at 62.
Shows you were smart. ❤️❤️❤️
Yep you’re single😂
@@C-Bolt How do you know he or she is single?
I was a divorced woman and raised 2 kids. I’m a retired nurse also. I retired, own my home and am doing fine. But I planned for it. I did work until my full retirement age. 66 and 6 mos.
@@mariannedressler6784 congratulations!
I become emotional whenever retirement comes to mind. I offer my heartfelt apologies to those who, after years of diligent work and saving for retirement, faced unexpected events that led to significant losses. This situation is especially harsh for retirees
Today, it’s easier to figure out how to improve your retirement savings. With inflation, you can use a professional portfolio manager to explore different markets passively. The impact of US dollar shifts on assets is complex
Even if finance isn't your strong suit, you can always bring in an expert. My 850,000 retirement fund took a nosedive in April, but I quickly called in a financial advisor. They crafted a smart plan to turn things around, and I’ve since pocketed over 250,000!
That’s wonderful! Do you think your advisor might be willing to speak with a stranger? I’m in serious need of proper portfolio allocation.
There are a few notable experts in the field. I've tried several throughout the years, but June Renae Matthysse has been my #1 choice for the past two years. Her performance is constantly remarkable, and she is well known in the industry. Check her out!
I found her contact information, emailed her, and arranged a call. Fingers crossed she responds. I plan to start this year with a solid financial footing
That is very true I am retired and went back to work part time and I am sixty nine years old I been working for almost forty years. It seems our government helped the migrants more than the people that live and contribute to this country.
Then you never retired. If you try to retire and then came back to work all you really did was take a break.
Scarcity mindset. There's plenty of money, it's just being hoarded
Why only 40 years? I worked since age 16, and from age 11 anything I needed other than food and roof over my head I paid for with money I made babysitting. Still working with chronic health problems.
I'm working 4 jobs all by myself and I too am sick of those that are getting a free ride.
As you should be.
How do you work 4 jobs I’m curious what you do? Not being smart just curious when people say that
Yup just like these tax breaks for people just because they have children. Just ridiculous socialism. Everyone should be paying a flat tax rate. Irresponsible people that can't afford kids are having them and are supported by responsible people not having them because they can't afford them. Completely backwards
Doctor, Lawyer, Athlete, & DoorDash?
@@lvpuppets he working his 3rd job I guess and don’t have time to reply but wanted sympathy I guess
We have people working at 74 yrs old & 79yrs old because they can not afford to live without working
We have to work until death, sad😢😢😢
There's an old man that can barely walk around working at the gym I go to and he slowly goes around wiping off all the equipment. It makes me feel a little better when I go in the locker room though and see him just chilling sitting down watching the TV on the screen.
Most of them squandered everything. They lived through the greatest time in the greatest country in the history of the world. Maybe all the money thrown into those f-150’s over the years would help today?
At least they get to live in nice paid off homes and actually DO get their SS. Millennials and Gen Z will be in their cars or a tent on the street.
@@ninerknight5351 Curious where you got that information from. Can you point me towards your source?
Dr. Phil, you’re barely realizing this! I’ve been knowing this for years. My friends that were on assistance would be taking their children to Disneyland all the time and everything and my broke butt, and my family would be going to the Swap Meet for fun. So I know exactly what this is about but this is nothing new. This has been going on for years since the 1980s and even longer.
Oh he's just talking about it like he did how we got here
Disney is poison !
I have neighbors on public assistance and you're right...all their health care, utilities and cell phones are paid for courtesy of the hard-working taxpayer. They keep having kids and fostering their irresponsible relatives' kids, even tho CPS has removed the children from their "home" multiple times. The house has to be fumigated multiple times a year. They don't teach their kids to place trash in wastebasket- they just throw is all over the yard or drop on the sidewalk as they walk along unwrapping the free food they get at the local food bank. Most wasteful people I've ever seen. PEOPLE DONT VALUE WHAT THEY DONT HAVE TO WORK FOR.
The more I work the more taxes they deduct from my check. The more money they print and the more handouts they give people.
Drive older cars, don’t get a new phone every year, go to the park and take a walk maybe get a latte or ice cream. You can have fun without shopping
Get a latte? They’re $7!
@ true.. and even an ice cream cone is like 3 bucks.. still cheaper than a day at the mall🤷♀️🥰
Props to Dr. Phil for never having car payment and driving beaters.
That's what I do I just replaced my 25-year-old Honda C.R v ❤
@ oooohhhh!!!! How many miles did you rack up on it? I have a gorgeous Pearl white 2010 Avalon I'd like to drive for 500k
Not having a car will, in the long run, help this formerly homeless person pay off his house faster.🎉🎉🎉!
@melywoodmedia..your joking or nuts
@@stevenweiss2148 first it's rude to call people with goals nuts. Second Avalons frequently clock over 350k and a friend of mine once saw one at the dealership for an oil change with 675k. Try to be kinder in the future and don't call people names. You are the keeper not of all knowledge and acting as if you are is narcissistic. .
I would like to see the balance sheet and expense sheet for these people.
First couple: Broke, but has a nice house with fireplace and updated kitchen, and has expensive looking clothing.
Old Lady: Broke, but has Apple laptop, probably paid at LEAST $1,000 for it, and has a nice house.
Maybe these people are simply living above their means?
I agree. Look at her hair, that's not cheap to maintain that hair
True situation: Retired and on SS. Govt "leaders" just touted a 2.5% COLA. However, the Medicare & Part D withholdings increased, and now our SS is $85 LESS than in '24! WTF!!!
I'm 67yo and still working F/T, hoping to go to 70yo, then retire to get that larger SS payment. But I'm trying to figure out how to financially afford going on SS! Wow. Been researching these last two years. SHOCKER, and pissed off!! Cannot believe how our gov't has squandered all the money we've paid in, us & our employers. It was meant to be our retirement. Our gov't has failed us at every turn.
@@rgould4196 social Security was meant to be one leg of your retirement, not the whole thing.
Same here. Social Security check is around $90 less than 2024 because more money is being taken out for Medicare.
@zenal3036 Explain that please.
@@genxx2724the point was the COLA is pure bullshit
I didn’t go to college. Worked hard. Lived BELOW my means. I’m retired.
Same here.
Same! I made it to retirement at 52, 4 years ago, from a grocery clerk job and saving investing 25% or more of my income since 21. My dad pushed me to save for the future me and I listened. The problem today is our floor (expectations) are too high! Cable, streaming services, expensive cell plans, new car, going out to eat several times a week, expensive vacations, larger homes, expensive coffees, smoking, drinking, gambling etc. The average household spends a min of $1k on un-necessary things and they don’t save to get ahead with it. I went “years” with $150 a month allowance. I’m only on my 4th car and the first 2 were 10 yrs old when I first purchased them. My 1st new car was driven by me for 19 yrs. I still use a tracfone but recently upgraded to a $20 monthly plan with them. I still use low a/c and heat, low water, cheaper vacations. My wife and I still only eat out 1-2 times a per week. I still live below my means and I’ve increased 10x my old allowance. I’ve gotten used to the lifestyle. In the end we get what we “wanted”! Most want to live for now, and that’s ok. But they need to keep working till much later in life! There is no “free lunch”.
Yup definitely possible and even on low income. If you start saving early enough it's not that difficult and you can save a small percentage with company match. Most people play the victim and prioritize netflix over financial education.
Lol easy boomer life
Have girls day without going anywhere and spending money is possible. Make lunch and go somewhere like the park. Mommy can still be a super-hero without spending money.
Inflation shifts wealth to the top, the bottom gets poorer. It's happened many many times in history.
You’re not MAGA!
Dr. Phil you are amazing. I would love to see you team up (just one episode) with Dave Ramsey! It would be so freaking cool! Everyone would love it!
Houses used to be a lot smaller. Therefore, they were cheaper to buy. Now everyone wants to have larger houses they can’t afford. Starter houses used to be a thing.
People don't want those homes. I just saw an article about how they are building all these luxury apartments no one wants, but eventually someone always rents them. They tore down the little homes to make huge ones so people are getting stuck in apartment living instead of buying a 'starter home'
I bought a little house 10 years ago. My family make fun of me and looked down on me. When I had my daughter I was able to work part time. I drive an older car. Some people miss manage money. They don’t need half the stuff they waste money on.
@@j.peluso2139 I did the same. We bought a townhouse in a suburb that everyone laughed at us. Paid it off before 30 & then sold that and built a house.
Bought most things 2nd hand, practiced minimalism & worked part time while raising our son. It’s good for the environment too.
Many Americans are struggling, but two teachers working full time and “struggling” are living above their means. (I’m a teacher.)
What is "living above their means"?? Because they are teachers do they deserve to live on ramen? Your job is pretty rough and it's a giving job and it's an important job. The standard of living has been raised for a while now. The expectations have raised. We have young adults thinking they should afford to be able to go out and drink and out to eat weekly and travel monthly to every other month. So when I ask, that question, I'm generally curious. Often this is subjective and the answer is usually what can you live without which is purely subjective.
@@Dr.Beetlejuice110 you can talk about what should be but the reality is, being a teacher is not a good path for financial success and thriving. It doesn't matter what should or shouldn't be because the reality is, it's not a good paying career choice. Too many people do what they like or want to do without factoring whether or not it's a good financial decision. There's many things I would like to do but they will not fund the stable and peaceful thriving retirement that I want for myself. Living above their means is a simple way of saying they're current lifestyle requires more money than they are bringing home. If you choose a career path that only offers you enough money to pay bills and eat ramen, then yes, you need to eat ramen. If you want to eat better than ramen, you need to do something to make more money otherwise you are living above your means. Again, it doesn't matter what should be, it only matters what is in reality. If someone wants to be a teacher, they have to accept that they are going to make a low income and if they can make that work, then that's great and they will do what they love to do. If a woman wants to be a teacher because she's passionate about it and has a husband who makes enough income to justify her going into a field that does not pay very well, then that works and that's great. But for someone who does not have that financial freedom to choose a low paying career, it's foolish to remain a teacher and they should instead find a better career choice that will pay them the income they need. What should be does not matter. Only reality matters. A teacher who is working their butt off and eating ramen everyday should be motivated to find a better career choice, and hopefully learn to start and grow a business. Something that will change their lives forever and provide exponential financial growth. It's not as difficult as a lot of people make it out to be. I did it twice by the time I was 29 and I'm nothing special. I became the owner of two businesses at the age of 29 and I did not come from money and I was a high school dropout. I am nothing special and in fact, I am likely below the average American citizen on paper when it comes to projected success however, I was fortunate enough to be born with a mind that doesn't accept what "should be" And I don't allow myself to be a victim or to say that things are unfair. A teacher or anyone for that matter can choose a different path if the path they are on currently is not working. There's no need to be sorry for them or to victimize them. People can choose to be almost anything they want and if someone is struggling financially as a teacher but wants to remain a teacher, they are making the choice to continue struggling financially. They could make a different choice. They should be motivated to make a different choice, chart out a new plan and then execute the steps on that plan. They are not a victim of anything other than the outcome of their own decisions. People need to make better choices in adapt when things are not working. It really is that simple.
@ I think you answered your own question. They want to live “high on the hog” as we used to say, and not have to budget or forego eating out, endless streaming services, expensive cell phones, etc, etc. I had zero sympathy for this couple who are living a very nice life.
I agree. They make good money but they want to buy everything without budgeting. He said they want this they want that but they can't so he feels bad. It is just want so they are living well off.
You need to move out of sanctuary states. You will see the difference. We used to leave in California. Now we living in single income. And we doing ok. I used to work all week. And still not enough. And won’t have time for your family and kids anymore.
When my son was about 12, I used to take Monopoly money and print out the bills. I showed him the in and outs of money. I allowed him to help make decisions about anything extra we had to do something fun like bowling, movies, or dining out. He saw the realities of how hard it is finacially. He now has a family and his wife stays home with their kids, it's a sacrifice but he understands the reality of in and out.
This is not the first generation feeling the squeeze. I am single and I have a chemistry degree but the government takes one third of my salary for taxes each year which puts me at low poverty level income.
and yet you get nothing from it except fund the luxuries of politicians
So many educated professionals are not making ends meet on salaries that should have provided the American dream.
I encouraged my kids to live at home and go to college locally. They will graduate without debt thankfully. That will be the biggest leg up they could get is to start life as adults debt free.
So are we. Our daughters are living at home, working full time and paying for college and saving for the future. That was the leg up. To have savings , and be debt free and educated, and to invest the money they earn, so when they are done with College, they will have money , assets and a future.
Debt free.
I told them, our home is fully paid for, so I'm not charging you rent, but you must maximize the time you have and the money you earn , you must make it grow and work for you. That's the gift I'm giving them.
And a strong faith in Jesus
Which they needed most and have.
That's what I did..and worked 2 and 3 jobs while carrying full class load..no vacations and no spring breaks. College has turned into a very expensive 4 years of partying.
Part where he said "I went to college and did everything I'm supposed to" is a major problem. People need to stop thinking about what they are " supposed to do" and start doing what works and makes sense for them in accordance to their goals and overall plan to reach their goals. Going to college does not inherently make you more valuable, more hireable, or more likely to achieve success in life. In fact, for the average person, it's a completely unnecessary waste of time and money that could have been spent building a career, starting a business, or simply working on themselves. While business ownership is not for everyone and it requires a lot out of you, it's far more doable than many people realize and you don't have to be born rich to start and grow a business from the ground up. I wish more people would learn how to start a business, grow a business, leverage their money, and make wise investments that will fuel in fund a proper retirement in their later years. You got to stop thinking about what you are "supposed" to do. That mindset says a lot about a person and breaking free from it will be one of the most rewarding things a person can do.
Spot on!!
Thank you for pointing this out! I went to college as well. I can’t find a job due to lack of 3+ years of experience. To be honest, my interests have changed since I graduated and if could go to a trade school and do it all over again, I would.
So true.😮😢
Everyone can’t be business owners! We need teachers and nurses etc! So crazy to think we can all just have a business
That mindset does not point to the person. It’s the culture we were raised to believe.
I am a formerly homeless person who is now a homeowner!
Thank you Dr Phil for illuminating this issue.
The stigma of living with parents/family has to go away.
The necessity needs to go away. People should be able to launch in adulthood in America.
We don't take good care of each other. If that is not apparent by now, then I'm scared of what it's going to take to make it so.
@@Hg71996couldn't agree more. People spend too much time complaining about things rather than actually making sacrifices and writing out a plan and executing their plan to achieve their own success. Removing the stigma would only make people more comfortable with their own failures to launch. Not a good thing
@@TheHeartWeCarryno offense but what the hell does that even mean? Taking care of each other? How does that have anything to do with removing the stigma behind living with your parents into your adulthood? Are you saying that in order to be successful, you need other people to take care of you? That's very dangerous thinking my friend. People need to stop relying on other people and instead, chart their own path, map out their own plan for success, and execute the steps on that plan. There are many different routes to success but the average person these days spends almost no time working their plan if they even have one and instead they spend all their time complaining or self-medicating and distracting themselves while continuing their daily cycle which doesn't work for them. I'm not sure what you are referring to when you say people don't take care of each other. Furthermore there are plenty of people who take care of others but how does that have anything to do with motivating a person to get tired of living with their parents and their adulthood and Make something of themselves?
The problem is most kids try to talk their parents into living with them for free while the kid lives large. Problem is kids up to like even 21 don't understand how much it actually cost to live. They think "well I'm not home all the time... I only watch TV at night... why should I pay rent" they don't realize that property taxes are due even if you weren't home for a full year. My moms dealing with this now with a family member. She's living in an RV on the land & thinks she doesn't have to pay because she's not using utilities. All while my mom is 1 big bill away from being homeless. I don't trust kids now.
He left a job to make $8,000 less. 3 kids & want more kids. Can't figure out why they are broke?
@dcallahan2074 My thoughts EXACTLY ! YOU took a pay cut……YOU signed for $100,000 in student loans ! Did you think it would magically pay itself off !?!?
And no health insurance for the family. I understand that what is going on in the public schools is nauseating these days, but you can’t just walk away from a job that has a pension and benefits.
This young lady is an exception. She, clearly has had a support system & didn't get the negative messages growing up that quite a lot of people grow up with 🙂
Why does a teacher have $100,000 in student loan debt?? That makes zero sense.
State owned colleges should be very cheap.
Yes, im not sure how that happens
A lot of them do
They need a masters degree. So we are talking 6 years of school. It adds up.
Same reason he has a car loan at 25%
There is personal responsibility upon all of us to live below our means that never really gets discussed because it removes the victim label. By insisting on being powerless, you don't look at problems that can be solved by your own behaviour and that in itself is the biggest problem. I don't disagree that times are tough but there are things you can do to help yourself. Driving the cars you "want" to drive or owning the home you "want" to own will lead everyone to financial ruin. Moderation and contentment is key xx
Can you please talk about people who are trying to live on SS?
It's impossible. I have my own home. It's falling apart because I had cancer and couldn't work so I went on disability. Making 900 a month when my home bills are around 2k a month. I'm almost homeless now because everyone got $15 an hour raise while my disability check only went up 30 bucks.
I tried to post this and YT removed my comment!
@@QueenB572Yes!!! TH-cam is a real problem. Total censorship like communist China.😮😢
Social security was never intended to be a persons full support, it was intended as a supplement.
@@MattyDemello Time to rent out a room at a reduced rate and get someone young to help fix up the house.
This is so relatable. I see older family members well into their retirement but not able to retire working full-time and over time multiple jobs. If you are employed full time The system tells you you make too much money yet you don't make enough to afford your health care costs or your basic needs let alone do anything extra. Kids are going to suffer the most out of all this because this is a complete breakdown of the family unit. parents are stressed and exhausted. This government is spending billions just within our own country as handouts to people that don't contribute not because they can't but because they don't want to They don't choose to but then there's this nice couple up here and all they want to do is what they were told that they would be able to do if they worked hard. Schools should fund sports and extracurricular activities like they used to. That's what our school taxes should go to. I hope that the couple here in the video can keep their heads up and even when they feel like they're the ones that are failing I hope that they know they're not It's our system that has failed them. 🙏
Yes, our system ha failed them. They believed the lies that you must have a degree or you'll never have a good job. Unfortunately many institutions, organizations, etc., have taught that, it's a lie. It was all about the colleges, universities making TONS of money, and, corrupting your mind. Don't drink any more of their kool-aid! Go out and find a Trade that you like, research the Trade schools for it and the employment opportunities, and you may have to move to another state.
I just called the library in the town where I live & rented a copy of Dr. Phil’s book called “We’ve Got Issues,” thank you Dr.Phil for making this available to those who need it most & it’s free to read.
how do they not have health care for their children? Teachers get healthcare for themselves and their families. Private schools do not pay as much and are not obligated to provide extras for employees. Why would you leave your public school teaching position for a private school? I am an educator in a public school and I would not leave for a private school. Why? Because you were not "making a difference" I do not believe that is the reason you left and took an $8,000 pay cut. I am sorry and agree with our economy, why leave the job that paid more and had benefits? Your personal reason of "not making a difference" has not served your family, why?
You're right!
I surmise he was sickened by being forced to teach that gender is fluid, etc. But he has a family to support.
Looking at the first couple, assuming filmed in their nice house: perhaps they live above their means
This is heartbreaking.
I’m 59 have worked full-time and two part-time jobs since my divorce in 1989. I have two daughters one in college who I do what I can do for her. My oldest daughter graduated from college with a masters a few years ago. They are amazing young women. My oldest daughter I worked all the time so rarely saw her. And we all know what happened there. My youngest daughter I just did my best to work around her schedule. There is no getting ahead and it is so stressful. I have not gone one day of my life without stress. Always worried about money.
70 here, still working 2 full-time blue collar jobs, 6 days/week. Wife also works full-time. Just the way it is.
Accepting the way it is is why shit will never change
Been doing farm work and swinging a toolbox since I could walk. Still walking, still swinging it.
Why?
@s1234pro To eat.
Don't forget to thank Biden for his ''greatest'' achievements!
And when the prices of groceries and goods continue to rise under tariffs, remember who to thank for that.
I remember when people worked for a home family, jewelry sports cars vacation homes vacations. Now I work to eat and pay car note and I don't have a family to support. How would I ever provide.
Retired military, went on to complete a successful second career. I always saved and planned for retirement.
Your guests are all beautiful and deserving people ❤ for Latisha, there have been some times in my life where I had to say "Today, I have everything I need," just to keep fear at bay. Your family is a treasure; hold tight to each other 🫂
A majority of people are unwilling to make the changes to lifestyle to get ahead.
Take the first couple. 4 jobs and they say there is no money after rent and food. thats a red flag right there on how they are living their life.
They have 4 kids. Kids are expensive and teachers don’t make enough money.
The REAL problem is the system which has completely broken, everyone is over taxed to death. Government overreach and corporate greed is to blame.
@@fchappell True to point. $100,000 student loan debt to get a teaching degree is on him. Oh, and so are the 2 cars with 25% interest rates. Yes, the deck is stacked against us, but, if we dig the hole.......
But he took a job that had an 8k a year pay cut? 🤔
My wife and I haven’t been out to dinner in a year. We never just go shopping, cause is fun. We stay home in vacation.
Enjoy the simple things.
Exactly why we have 10 of thousands saved. Plus retirement. Zero debt!
Because we worked for a goal. Not for the moment!!!
So some day, we don’t have to work!!
Get back to basics!!!
I’m sorry. But when the man said he had $100,000 in student loan debt I had no sympathy. Why??? That was a choice and a poor one at that. I get tired of listening to victim mentality.
I agree, what are they spending their money on?
They need to find Dave Ramsey! Their lives would be changed with some good, solid financial principles and training. They would also be changing their children's future and lives. It's never too late to change the course of your financial path.
They won’t because they blame everyone else!
Thank you for this very important show!! I wish everyone could see this!!
Dr. Phil there are a ton of people using disability to stay home and not work! Not to mention all being compensated for in employment because they do not want to work.
I know so many people who have been lying on disability for decades! They are more than capable of working!
These people are lazy and leeching! While we are all working and struggling to survive!! It’s horrible.
Yeah it's kind of amazing how many people suddenly get disabled during recessions.
I know two ladies in florida, one owns several houses and apartment complexes while being " mentally disabled" the other owns beach front property will being " mentally disabled" and trains people on acting crazy to get on disability! They say its all about being a good actor! They laugh all the way to the bank! 😮!
Best country in the world we're told.
25% interest on a car note that’s just crazy.
unfortunately became disabled and had to go on disability and got around $800 a month...(lost everything when husband divorced me) ...because of being on disability forced by government to retire at 62...now at 67 I get $980 a month...increase once a year in Jan that is around $24 more a month...the state I live in has increased through the roof...have to live with my brother otherwise i would be on the street...he works 2 jobs in order for us to just barely get by...apt rent alone is over $2600 a month...have to constantly scrimp and we do absolutely nothing extra...zero
Hope you're doing ok.. most of everybody besides the rich are struggling
It is very hard, my sister is in the same situation. She had to let her home go because insurance kept increasing along with added mandatory flood insurance. Her house note was almost as high as her disability check. We had her move in with us, fortunately we had the space for her. My husband and I are both retired and own our home. We were lucky enough to have saved for retirement but inflation is not helping us.
I will be at age 70 soon, and my bday wish is for God to help me find a job in my industry to help myself live a better life. There will never be a time for me to retire but I have to focus on staying healthy to take care of myself and no crying.
He was snookered into going to college without working, first, to get the money to go. HE made that choice. Others decided to work and stay out of debt. When I was growing up in the 70's if parent's didn't have the money, you didn't do things. I had to work beginning the summer of 7th grade. Every summer. When I reached Senior Hight school I worked after school. I had to prove and contribute to my needs. That money was mine but I learned the value of working to make purchases. Does that even go on these days with teens?
I forgot to add in college I did work study and when I came home on breaks I worked. I did have a scholarship for two years which helped.
I can't afford health insurance either
Me either 😢
Wow! But if you don't have insurance, aren't you being charged a penalty when you file your annual income tax? Because the gov't mandated that, you HAVE to have a medical insurance policy! It's BS, but that's how our gov't leaders have failed us!!
The main problem is that most people have no financial literacy. A private school teacher is complaining about not being able to buy the car he wants? 😂 You are a private school teacher! If you wanted to drive nice cars you should’ve chosen a different profession my friend. And you don’t need to take on a ton of student loan debt to become a teacher. Make better financial decisions people!
Make no mistake it is tough out here. I can say too my grandparents raised 5 kids in a 1500 s.f. 3 bed 1 bath home. No trips, just little league and family cookouts. Times were simpler, yes, but so were their expectations. Their parents had gone through the Great Depression.
100K in student loans and car loans @ 25%?! Obviously those college degrees didn’t teach common sense!
Ladies and Gentleman, we have a winner!
Political economics is the main reason why I'm a conservative. This math isn't "mathing" and the system needs an overhaul.
It's like this is the UK, it's recently got in despair!
I had a beautiful life. We had food to eat ( maybe not our favorites), clothes on our backs ( often hand me downs), a warm home (not elaborate or even beautifully decorated. My mom was home taking care of us and my dad worked at a grocery store. I did not do extra curricular activities or go shopping for things we did not need. Needs and wants are very different. I think our culture finds way to buy wants and can not pay there rent. I know times are harder but I think people should stop trying to keep up with everybody else.
This is exactly why I left the US. My parents live paycheck to paycheck and are struggling to make ends meet, I didn't want to be a part of a broken society that punishes those who work hard and rewards those who do nothing.
No society is perfect, nor ever will be, but there are quite a few other nations out there doing a whole lot better than the US is.
I make 2,000 a month pay 220 a month for health insurance and don't qualify for assistance to help pay for my blood clot medicine that cost 700 per month copay. I want to know which politician is living in this type of situation in America...
That same blood clot medication cost 30 for 3months before covid
NONE.OF. THEM. They are all a bunch of rich crooks, I read once that the only way to get rich in politics is to be a crook & there’s your answer.
67 and still working full time.. house payments are low and no car payment. Part of the problem is our country is spoiled and our desires are greater than our means.
How come you still have a house payment at 67? I sacrificed everything to have my house paid off by 54. I live on less than $24k now and I'm debt free.
My daughter works full time pharmacy technician single mom of 1 can't make ends meet I help as much as I can financially and watch my grandson when I can
The federal penalty for not having health insurance under the Affordable Care Act (ACA) began in 2014. Guess who was the president?
i was only penalized the first year and after that, there was a box to check that you could not afford the insurance now they don't even ask for taxes.
i have not had health insurance from 2014 till today.
@DS-nv8bi does not having insurance concern you?
Obummer
The poor are poor because they live like they’re rich & the rich are rich because they live like they’re poor.
It's like this everywhere and this conversation will change nothing
Maybe Prez Trump will see it.
I'm a mom to an 11yo who has been raising her as a single mom since she was 3. I'm a custodian who gets paid once a month to the sum of $1089.23 after taxes are taken out (before taxes it's a little over $2000). Throw in food, clothes, bills, gas and pet food, I'm left with a little under $250 to last until I get paid again the next month. It's a struggle. That's why we don't vacation. She wants to go to Japan one day and I tell her "One day", knowing that I won't be able to help her get there. 😢
Hi from Okinawa Japan! Please check out your local Rotary Club or other organizations who will sponsor your child as an exchange student. We have hosted many young people from the USA and other countries. God Bless and prosper you and your family.
Maybe she will take you to Japan someday.
There's something wrong with yr paycheck deductions. No way they should be taking out almost 50% of your check earning so little. At 24,000 a year you with a child, your federal taxes end up being almost nothing at tax filing time.
@@arkhamb1234 welcome to the Louisiana School System. They take a lot out of our checks. It's ridiculous.
@@animegirl2.068 Crazy!
The way to own a house in this day is to get a part time job at 16 and start saving while you live at home, stay at home while you save for your home down payment. Do not move out to rent or you will never own a house of your own.
Thsts what i was doing 30 years ago. I'm worth over a million and retired at 44.
If you have parents that support this plan then yes.
I'm happy your finally see the world for how it really is.
Barely survive is good description of my retirement..I worked 40 years in Healthcare ,2 and 3 jobs to raise my 2 young daughters...Ex Military husband paid $ 100 per month. I retired at 70 because i couldn't do the work any longer..i have CHF...had a heart attack on 2020 and mild stroke in 2018 ...Retired and was ok until late 2021 ..then can't afford Food along with increasing Light bill, rent increase × 2 from October 2022 to January 2023. I'm 72 now...
I sympathize, and I do feel life has gotten a LOT more expensive these days, and the government is DEFINITELY misusing our money and my raises do not match inflation, for sure. However, I need to live within my means. I mean, my kids want things too.. so what? Sorry.. but if I said yes to every time my kids asked for something my wife and I would be in serious financial trouble. Financial planning is the key.
I have been in this situation and realized i put myself there, not the system. I know it's hard but a lot needs to change for yourself before this problem is ever fixed.
Great topic Dr phil
Every person's situation is different. I grew up knowing that when I graduated high school, I had better have a job because I would be out the door immediately if not. I always had part time jobs since I was 15. So after working full time the first 3 months after high school I bought a beater car and moved out on my own. I was not handed anything while growing up. But then again, the cost of living was low then and has gotten so out of control. My grandkids dont stand a chance to buy a house. They are all working but do not have college educations. They are treading water just to support their families and can barely afford rent. They struggle every week to eat, pay car payments, car insurance and gas and utilities. America shouldn't have to be this way. I pray that this economy improves with the new Administration because right now it's almost impossible to live.
Divorced single women are in serious trouble in this economy.
That's their problem. They probably initiated the divorce anyway.
Most of them made that decision and it’s not my problem
They are indeed. I read it over and over on my FB Frugal Living Groups when they reach out for help in trying to budget. And when they do get to Social Security Age? If they were not married to the X more than 10 years they get nothing of his Social Security unless he dies and they haven't remarried. Anna In Ohio
This is what happens when politicians represent the corporations that fund their reelection campaigns and not the regular everyday people
If you are pawning your shoes to pay a bill you should have bought cheaper shoes. lol
The current system is absolutely unsustainable. We need drastic changes and we need them NOW. I’m part of GenX. The system now is NOT what we grew up knowing. We could hustle and save money. Now people have to hustle just to make ends meet. There’s no hope in this system and it’s a road to burn out.
That young woman who bought a house at 23 - did she live at home with her parents while she was saving? If she was renting she wouldn't be able to save enough money for a house.
She probably did live with her parents to save and thats kinda hiw it should be till your like 24 25 and move out
I would have liked to hear more of the details about how she accomplished this. What was the income she used to qualify for a mtg? How did she pay for college and cost of living while (at the same time) saving enough money for a down payment? So many questions...😅
I retired in 2019. I had to go back to work in 2023 because inflation. I'm grateful my health is good enough to work, but I miss being retired. I dont live extravagantly, my social life consists of lunch with my friends. That's it.
You never retired. Stopping work for a period and then going back is a break.
@A.D.I.I.D.A i didn't go back where I retired from. So no, I wouldn't call it "just a break". Especially 4 years after I retired.
Sorry. If you had to borrow $100K to go to college, you shouldn’t have gone to college.
Nobody to blame but you.
Ain’t that the truth, I saw one person that said he was retirement age & still trying to pay off student loans. I got a G.E.D. & didn’t go to college, I worked my butt off at whatever jobs I could get, no lazy girls jobs for me. I am now retired with no debt, a small paid for house(kinda run down but it’s a roof over my head), a good car, paid for. I budget, am frugal & get by. It’s a struggle but that’s life. I am on s.s. & a very small pension.
Where's the basic breakdown of this first couples earnings versus costs? Playing the blame game without looking at the basic facts doesn't provide a clear look at things.
"I feel the guilt that we can't get to the neighborhood that we like, to get the car we want to drive", this attitude spells a lot of financial troubles 😅😅😅😅
I purchased the book we have issues, it’s a great read I am half way through it and it’s thought me so much I recommend it to anyone who has a desire to hear the basic truth about where we are as a society
I am 68 and my son and DIL brought me to live with them because I could not afford to live alone. I worked as a medical transcriptionist for 42 years and raised 2 kids alone without government aid. I still work 20 hours a week caring for elderly and a baby.😢
I'm sorry that you did this to yourself.
My mom told me no all the time. $100k student loan? They could have worked way through community college for teaching degree. Everyone I know was poor as young family. We felt poor every day. This was 50 years ago. Never once did I get a mommy daughter day. And I knew better than to ask for school or church extra curriculars. The first guests act as if they are entitled to all the luxuries because they work. I just cannot comprehend.
I do empathisize with the elderly who don't own their home and have eliminated all debt.
I think it is the way that they see things or the way the world has told them it should be. They feel guilty because they see what others have but they are not seeing what others don't have. I used to have mom days with my kids and I was BROKE it doesn't cost money to go for a drive (except the gas). It is about one on one time with kids.
@ right! Why not get nail polish and have a home spa day? Or make cookies with sprinkles and pink lemonade? Go look at Christmas lights and take mock tails in fancy glasses. They'll remember that more than dropping $250 at a spa and restaurant.
There's a million things you CAN do if you are poor and they make the BEST memories you get to brag about when you're old, debt free, living in luxury and only need to earn $1200 a month to pay ALL your monthly bills including groceries.
I would tell my kids that those people with the fancy cars are in debt and buy things they can't afford are shallow and do so to look good because they are broke and empty inside. I would make sure my kids knew really looking good is being thankful and living in your means.
My property taxes DOUBLED since 2021 so entitled teachers like these two get paid WAY more than I earn.
I'm sorry but I'm no more responsible for their stupid student loan payments than I am paying for an illegal immigrant.
No doubt these are hard times but one should go to the JC and live at home during college. Private college is a bad idea unless you can pay for it.
This is an old subject that shoukd of been addressed years ago. The "adults" in the room had one extremely clear message regarding this. "Just act like it's 1985, you lazy millennial." My parents had a similar stance and they wonder why I dont wanna have kids. This red flag was completely dismissed for years.
Problems only become problems in this country when it affects people with power.
WHO IS PAYING PEOPLE NOT TO WORK.
LET ME KNOW THE SECRET..
I AM 63, I WOULD LOVE TO GET MONEY FOR NOT WORKING
People collect welfare/disability then many of them did side jobs or sold drugs etc in my old town. They had lots of free time to fish or hang at the beach, while the rest of us worked so they could collect $1400 +
This couple is contributing to their issues. I feel the squeeze too, and I am a teacher too- but you can find another school that isn’t private school salary. You can work during summer. When people say schools are broken and the system is rigged… statements like that are vague victim mentality.
I used to tell my momma, "just write a check!" 😂that's exactly what our government is doing!
Shame on them 😢
3:37 How much is your mortgage! Some live above their means.
Pretty sad.. my son is a 35 year old and a veteran after 2 active deployments in Afghanistan and 1 tour in Korea and chose to get out after 8 years of service with combat injuries and treated like S#$t from VA in atl! Waiting for his benefits over a year now and the VA laugh at veterans when they call for help! People who fight for our country can't get help... people who work in America can't make it! Illegals get all for free and people who don't work get everything! It's discusting! America is broken! Pay loosers and mean to veterans and people who will work! Sick!
Here's an organization that can help your son get his benefits. The Wounded Warrior Foundation
I'm 72 and still working..
Wow, my comment got deleted! Telling the truth is not accepted on social media!
I do contacting for a billion dollar pathology lab and have been there for 10 years and they only pay me $20 hr!!! I’m a single mom and I know with my experience I can make more but I can’t afford to change jobs and wait 2 weeks for a paycheck !
This is awful! You have to find a way to gather enough funds to change jobs even if it means going on a pb & j and ramen noodle diet until you have saved enough. Are you getting a tax refund this year? If so, use those funds to help you change jobs. Any little windfall of money you get put it towards changing jobs!
I don't think everyone is "supposed" to go to college. The numbers don't add up when you will never pay the loan off. The pipe trades put you through a 5 year apprenticeship that comes with a free college degree, and in most locals you start off at close to $100k a year without even working overtime. I work with a welder who made $218k last year. I understand that it isn't for everyone, but most degrees lead to low paying careers.
I am so sick of the government and the baby boom generation ignoring the simple fact that we now have a full generation of people who went to college who can not afford to live on their own!
The baby boomers didn't screw you, the government did and so did the education system 😂
What exactly do you expect boomers to do? We were all just like you. We voted and then the chips fell where they fell. How much control do you seriously think we had over this train?
You screwed yourselves this is America 🇺🇸
65 and older, can have a social security check, and have a job at the same time. This is 💯 true!
Yes but they reduce your payment depending on how much you make.
Up to $15K before Uncle Sam shows up to collect 🫴
You get penalized if you make a certain amount at a job
@@leechburglightsA senior on SS can make up to $21,000 a year while collecting.
No, there is no longer a penalty if you are 67 years old which is full retirement age when you start collecting SS, so there is no limit on what you can make if you continue to work.