It's ONLY WORKING FOR THE 1%...WHO CARES ABOUT THE REST!
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- เผยแพร่เมื่อ 12 มิ.ย. 2024
- A lot of people will look at the numbers I will display in this video and say we have hit the soft landing and there will not be a recession and that the economy is on fire. But is that really the case? When you dig just a layer or two deeper, the data starts telling a different story.
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Say GOODBYE! HOA Karen Just Got CANCELLED! th-cam.com/video/IiOoHTDQPUk/w-d-xo.html
Hoa, please go away!
I do hope you stay well off and more than that stay happy. I would like to know however and as you're obviously intelligent and good with money, but what precautions do you have in mind if the banks crash and the economy goes belly up? Just interested. Take Care. 👍
IF you dont want to live in a HOA, dont buy into one. Genius huh? How stupid are people? It's an option, make a wise choice for your lifestyle.
@@thomasallen6980 unless the only good place you can buy require one.... it why companies keep buying all options so you CAN'T just buy something else....
People which are rich have their money in properties which in then turns out to passive income
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Can you leave your investment advisor's contact information here? I absolutely must have one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
Do you mind sharing info on the adviser who assisted you?
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
In light of the current economic trends indicating a potential downturn in the stock market and an impending recession, coupled with falling inflation rates, investors are advised to consider diversifying their portfolios. Exploring alternative assets such as gold and crypto trading would be a strategic move to hedge against the expected market volatility and inflationary pressures. This approach is crucial in navigating the complex financial landscape shaped by fluctuating Federal Reserve policies and the broader economic climate........Amidst this the insights of a knowledgeable guide like Kerrie Farrell can be crucial. Her expertise in navigating the nuances of cryptocurrency investments has been the key to understanding and making the most of these emerging financial trends...managed to grow a nest egg of around 4 b,tc to a decent 21 b,tc in the space of a few months....
I appreciate the professionalism and dedication of the team behind Kerrie’s trade signal service...
As a beginner, it's essential for you to have a mentor to keep you accountable.....
Kerrie Farrell program is widely available online...
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience..
The fact that i got to learn and earn from her program is everything to me think about it, it's a win win for both ways...
"We're living through the most expensive time in American history." Thanks for the reminder.
Everyone is rich...
Of course you are being sarcastic, but everyone knew this was going to happen BEFORE the 2020 election, but somehow the current political administration won (of course it was stolen and don't get me started, the evidence is taller than Mt. Everest).
the more we are taxed the more the politicians will waste!
The income tax and property taxes are designed to oppress productive people and to drain away any possible wealth. Very unjust taxes. Most of the poverty in the world is the fairly predictable result of rampant government corruption. Any vote for Democrats is a vote for rampant government corruption.
There are no taxes and no inflation on my video game island. I wish I could move to someplace like that.
Americans for a flat tax!
@@bigb6046 You're not suppose to be taxed.....taxation is slavery.....
Revolution!
If the government was in charge of the Sahara Desert, there would be no sand left. - Milton Friedman
I started out with nothing and still have most of it all.
Congrats!
Me Too.....
No new taxes period.. Government will waste every dime..
I wonder what would happen if we stopped. Hmmmm...
@@rosanneallen-hewlett9973We would have more money in our pockets? 😂
Notice the govt never announces any spending freeze or reducing the size of their number of federal employees.
For someone to pay taxes to Biden is a foolish act and un patriotic at this point let’s be honest
Yup... 82 billion spent last year on building new electric charging stations... so far, only 7 have been built!!! Let that sink in.
"Gaslighting" requires an abuser convincing a victim that what they know or experience isn't true.
Yes..
And this country suffers from stockholm syndrome
@@gematria101 Absolutely.
Had a ex wife like that. Trusted her and ended up losing everything and became homeless. Trust nobody
It just is called lying... people overuse that word for lying... It isnt that, its just lying.
@@gematria101Explain Stockholm syndrome.
Back in 88 majority of people voted for River boat gambling here in Missouri. better roads & education. The extra money just ended up in the politicians pockets We've had several tax raises since, just for roads & education.
Same with the lottery in Texas .
Same in Iowa
something needs to be done about gambling in America...so corrupt!
I remember this. I left in '93 and came back in 2012 and the school systems were WORSE than when I left. Boy, did politicians get wealthy though.
The rent is too damn high!
Greed.
the people at the top are too greedy they are the main reason for high rents, inflation, insurance costs, permit costs for building more residences and complexes etc. so dont blame the landlord, blame the government being controlled by the greedy who make private landlords look like a peasant.
I’ll never retire. I will die with my boots on and I’ve come to terms with it.
Very sad indeed.
Just live on credit and die owing millions. Came in with nothing and went out owing millions.
@@shawnkelly695 nope, debt free. The only debt is the man, and ya can’t do anything about that.
Don't wear expensive boots.
@@BREEZYM6015 why not
No to more taxes. Our country fought the Revolutionary War over a 6% tax imposed by the King of England and now our highest taxes are over 60% for some people so we already pay too much in taxes.
Revolution!!!!
Yeah but they didn't have combine-harvesters back then... life was really freaking hard 250 years ago. But today calories are very cheap so .gov can always keep the masses full enough to never rebel... Revolutions are only fought on empty stomachs.
you want the Gilded years with close to no tax, no government and ...most of the population living in poverty?
@@frenchfred3 Bro that was back when over half the country was still working on farms. The standard of living increased because of technology, not taxes.
@@jonathantaylor6926 you should read again about this period. That’s because of extreme capitalism that people were poor and the government had to put antitrust laws in place and regulations
The government will squander the tax on buying more weapons to send overseas.
Did the Weishaupt's get squeezed out of the plan? Bc your ancestor wrote the plan 🤨 the NWO plan
A Weishaupt would know what gov does with the tax.. 😏👍🏻
pretty much!
Right.. and supporting the 800+ military basis all around the globe. No other country has anything even remotely close to that number!
Everyone will soon be a millionaire because the value of the dollar is collapsing to shit.
If they can get a raise....
Yep lol. A millionaire means nothing anymore.
😅😅😅😅😅😅😅😅
Germany in the 30s, barrel full paper to buy a loaf of bread
I am going to have my dollar identify as a BRICS dollar. I am going to be MEGA rich!
I remember in 2002 my mom getting so excited that she would receive $1,000 on a life insurance policy her mother took out on her in 1946 once she reached her 80th birthday. $1,000 was a lot of money in 1946. Today you'd be lucky to buy a month's groceries.
A 1000 bucks is still alot of money. I can buy 2 brand new car tires for 1000 bucks.
Month of groceries for me in mid Mitten 4 hours NE of chicago.... 300-350. And I eat steaks and shrimp in the north
Or worth one year of car insurance for that same amount.
@@shawnkelly695I'll cover the other two tires. 😂
that was a waste of money.... the only one that got rich was the insurance company
All pensions in Congress and the Senate should be funded through Social Security. They would be loathe to raid it for money to give away to places like Ukraine or spend it on endless wars and you can bet it would be fully funded if their pensions depended on it.
Yeah, and don't allow them to trade stocks. Then we may get elected representitives who want to be civil servants.
can't we do both.
Congress exempted themselves from the Affordable Care Act. Think about this. They gave the rest of us a healthcare plan that they themselves do not care for.
Those politicians should all get a real job.
There is a lot of money. But too much goes to the military industrial complex, and what is often termed "aid" to Ukraine or Israel is a subsidy to U.S. weapons suppliers. The business of war is ghastly ... but very profitable to those with no consciences.
Also, decades ago, the wealthy were taxed much higher than is the case today. Trump gave tax cuts to the very wealthy and that's why many from this demographic support his campaign.
Lastly, Big Energy corporations get massive subsidies from the U.S. government. Why should citizens pay Big Oil etc.?
So, before you talk about the $ allotted to Ukraine, learn about massive waste here "at home."
Healthcare in this country is still a problem and has been for years.
It’s a mix of Gov and private enterprise. Whenever you have that it’s going to be a shit show. Basically if you have nothing, you don’t pay. If you have something they rake you over the coals. Compound that by even crappier insurance since Obamacare. Unfortunately, most the time I just don’t go. Medical in this country is just short of a scam. No wonder the medical profession isn’t as respected as it used to be.
Thanks to big pharma and the Government for screwing everyone.
Israel has free health care and universities
They tell me it's poor people's fault for not trying harder.
That’s odd, immigrants seem to be happy with the free healthcare they are receiving. Lol.
I have a friend who is, unfortunately, only capable of a low skilled job. He's getting crushed right now.
People were already living paycheck to paycheck
Their is no room in their perfection for that
As a young adult, my American dream is to get the hell out of this country by or before the age of retirement.
There's cliffs on both sides it's not like you're going to paddle to New Zealand!
@@Mark-pb8kj My whole life's been about this Johnny. ...Vaya con Dios.
Living the dream in Santa Marta Colombia
I'll go back to Europe for retirement and probably even before that. The US is not a great country to live in anymore
@@Mark-pb8kj totally!!!
In George Orwell's 1984 it was always better than ever despite the poverty and oppression!
The Age of Abundance is coming but the switch over is going to have people slacking as they want to remain stuck doing the same thing that always worked and now does not work (coming soon, petrodollar just ended also from saudis... surprised he didnt report it today)
They always changed the peoples attention span to the new war, the new leader, or the rewritten history.............Just so people could forget the squaller they lived in and accept the status quo.
That is not even counting those who attained the status of unperson.
Yes.
Also I have/had a graph from a few days ago. Since 2021 the USA has LOST full time jobs but gained 100s and 100s of thousands of part time jobs.
War is peace...
Freedom is slavery
The sad bottom line in America is if you have nothing you are considered to be nothing. You are what you have. Being human and a citizen gets you very little in the U.S.
The wealth won't do them much good when they punch out of this world and face God. This is why I'm glad I'm not wealthy. I have enough distraction. Being wealthy could have been my ticket to hell like it is and will be for MANY.
@@SheepAmongG.O.A.TAmen to that....I would die a drug addict if I was rich.I am grateful that I'm not rich.
Jesus is free 🆓 insurance, we should be worried about our souls and not green dollars. I don’t drive 185,000$ and you tell me I need to give 185,000$ to ankle Sam ? Nooo wayyyy I’m getting health retire insurance, with this kind of money I can buy a full pay off place in another country and with free hospital and view at the beach 🏝️ and a good car and a way better life overall, people are nicer too
Work out and eat good food and stay healthy, this is a cheaper option
@@Atlan_tis Health is wealth
THE ECONOMY IS SKEWED TOWARDS THE WEALTHY!
So get wealthy. I did.
Wealthy Marxists
Since Roman Times
@@robertmanley2687 Same people in charge Now as back then 😂🤣😅
Capitalism is a rigged economic system against the world's workers.
More government is not a solution.
The government, which represents a nation state and it's people should be a solution against corporate monopoly. Perhaps more government is not a solution, but the government should be a solution.
No more, better
@@ao8554 it should be, but they're all being paid off!!!
@@ao8554 Big business LOVES big government and vice versa. Why? Because they put up barriers to keep new players out and protect the little circle.
I went to a couple of towns outside the Seattle area. There were maybe 10 people in the mall. They were all seniors walking the hallways for exercise. No one in any of the stores. We went to a restaurant in the mall and there were only three occupied tables in the restaurant. I don’t think malls can no longer afford to operate with these numbers. It’s seems like we are in a depression right now,although no one says anything about it on the news.
Sad but true…
That’s because everyone buys online. I haven’t set foot inside a mall in almost 2 years but my house gets Amazon packages every other day.
At what time of the week though?
Well…the malls died years ago. Where you been?
@@iati6294Are you on a budget?
One of the biggest problems that is almost never talked about these days is the massive wealth inequality, especially in the US. It's the worst it's been in the entire history of the country. It cannot be sustained.
Why not?
I'm with you Michael, keep the higher interest rates!
And raise gas to $10 a gallon. 😂
And pay tax on the interest
Everyone pays taxes on interest income unless you don't report it, don't misinform.
Yup, should raise them up 3-4% sqeeze our country to b fiscally responsible.
Back when rates were based on REAL numbers, we'd be at 20% right now. But then again, we'd have been at 5% from 2010 until now, and this giant bubble never would have been.
Health care out of your own pocket. Five days in the hospital, run a few tests put you on antibiotics and send you home where you are dead in twelve hours. The bill $165,000.00 in Florida, just happened to someone I knew. You better have insurance or you face bankruptcy.
Sinus infection cost me $30.00 and charged my health insurance over $1000 charged for 4 medications ONLY NOT INCLUDING DR OFFICE VISIT 🙃 Can you imagine a sinus infection. "What if I was really sick,?"😮
My son's medication he needs to survive was inflated to $400 every 2 weeks. I used to only spend $20 a month on it !
@@valleyglenifyThat’s horrible.
@@class1188 the insurance doesn't pay that amount either, whole thing is a scam
Given these horror stories, why don’t you demand a medical health system like in all European countries. In the UK none of this would happen. Of my god…we could never do that…that’s socialism. Talk about brainwashed ?
I work 3 jobs. But, I’ve worked multiple jobs for over 30 years. That’s just what I do. I paid a 30 year mortgage in 16 years 8 months
So you sleep about 2 hours a day?
I just trust in the Lord, leave the problems of this world in his hands and use my talents and gifts he has given me. This world isnt home for the Christian. We are just passing through, as God still provides.
THANK YOU FOR THAT!!!! I get so down when I hear this perspective and I can easily forget that God still sits on HIS THRONE!!!! Praise His Name! 🙏🏽🙏🏽🙏🏽
@@keddy5627 set your affections on things a above, not on the earth. Great peace have they that love God's word.
Amen, so true!
I think you're setting yourself up for disappointment.
Your life is in your hands and the world is in the hands of the angry mob. Best you can do is stay out of their way every time they flip the table.
Enjoy living in lala land instead of reality then.
If you own a lot of rental properties, then one day no one is renting them the taxes will eat you up.
Indeed
Depends where yours rental property at.
But if you bought a rental
Near beach town don't
Worry there always peoples want to live near beach ⛱.
Those taxes are so awful ....
@SC-or2ek Sure and 2008 didn't happen because "beach town". lol
Then you sell
My home is paid for but a housing crash is a slam dunk so it would be illogical to count the current value of the house as part of my net worth and incredibly stupid to borrow against it. Dollars today are in truth only pennies. Reality is unforgiving. The sooner people wake up the less they will suffer.
I count my paid off homes and rental as net worth.
Have cash,investments,savings,passive,etc. and don’t borrow money.
Only debt I ever had was my 30yr mortgage I paid off in nine years back in 2008.
You could sell, put that cash into t-bills and rent for two years.. zero risk to your capital and depending on what your house would sell for the bond yield would pay for a good portion to rent a place.
@@jonathantaylor6926 And now you've wasted tens of thousands of dollars renting when you had a paid off house. LMFAO. Anything you make on the t-bills will be totally obliterated by rent.
Better idea, if you can afford rent, just put THAT into the t bills? Duh?
@@Nick-ue7iw When you eat food and then the value of that meal goes to $0.00 do you feel the food was "wasted"?
@@Nick-ue7iw you don't know how much 5% of 400k is, do you?
For the 34% who are "on track" for a comfortable retirement..... please hold. When the stock market tanks so does your retirement. Hope you have at least another 15-20 working years to get back to your "comfort" level. And then it will crash again. And on.... and on it goes.
I remember always hearing them gloat about retirement when I was a kid. Boomers really thought that they could suck the planet dry of resources and then leave the new generations in a hole while they sit pretty in lavish retirement. They were gravely mistaken.
If the I EGAL system was righteous, we wouldn't have any of these problems.
Things may look great on paper. However, reality is far different. Perhaps it's because I was raised poor. I'd rather keep seeing my value/net worth increase on paper. I will also keep spending low so I can see my liquidity grow as well. Regardless of what's on paper, what my bank account shows is my actual net worth as far as I am concerned. I have officially saved up almost $15k and am not spending it. I am saving it and now working on my next step: emergency savings and growing cash in a CD.
Bravo. Doing same. Yes.Many love to brag about their worth, but is it real worth. Or just on "paper" . 👍
Financial challenge, count everything except equity in your home.
Yes!
Having money in a house you live in is not actually going to make you any richer on a day to day basis unless you sell it and start renting or sell and downsize and can put some of that wealth into the bank.
Reverse mortgage if you can time it so you don't get kicked out before you're ready.
Millions disagree. Like house owners.
Inflation will steal more than you gain in bank CDs.
And you pay taxes on the "gain".
So a paid off house,185K and SS benefits, and in trouble!?! The whole country is screwed!
THANKS BIDEN
That’s a lot more than a lot of people have
60 year olds believe they will need $1M to retire comfortably, but on average only have $113K saved. Lifestyles of the rich and famous goal posts. But the reality is that most of us will not even get close enough to kick a field goal.
Seems like you are better off then most. Thank God.
@@MrWill-ng8dgI heard that 1,000,000 line all my life. It was never attainable. I will we be working the day before I die.
Those vistas are so beautiful without the heat, humidity and insects.
SoCal here, owner of business I was with hired an illegal immigrant, 1 of 2 hires in the last 6 months. Sharing to show this is real.
I believe you. I live in southern California. Seen it for decades and still til this very day. I blame the owners of the companies for being greedy and crooked. Im not mad at the workers at all. More power to them. The same people who complain about illegal immigrants are the same people that hire them and take advantage.
I can imagine getting a lounge chair and sitting underneath those sprinklers all day long on a hot summer day. ☀️☀️☀️☀️☀️
I’ll join you.
Michelle doesnt understand that corporations dont pay taxes. Any tax is passed onto the consumer, period!
Actually Michele (me) does understand about corporate taxes. Companies DO pay payroll taxes which is how social security is currently funded. I'm suggesting that AI be taxed and that money be used to fund social security.
THANKS BIDEN
@@user-br2zp3bk6f You propose making the Govmnt the middle man in the distribution of wealth.
I'm sure the Congress would love the idea (particularly the Dems). The Govmnt already redistributes wealth, e. g.
Taking tax money FROM YOU, then giving that money TO ME (or whoever is deemed worthy). It's all socialism/
communism enforced by authoritarianism. Capitalism is the remedy. You can, you MUST own the means of production
@@reasonablespeculation3893: it's call neo-fascism, and it's related to elitism, not left-wing socialism.
@@bobs5596
Zombie ByeDone lost.
I will take the good old days of working at a factory bringing home 550 a week and my girlfriend was bringing home 350 a week paying 450 a month rent for a 2 bed apartment over any of this madness .it is a shame we sent all the factories to china they were good jobs and good times.we were living then how the upper middle class is living now and we were just blue collar workers.
So you want to be back in abject poverty where the only reason you had anything to survive on is because you had a partner? Paying 80% of your income on rent is dystopian.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
If you're afraid of losing your money invested in the market, why don't you sell out? If you don't want to take the risk, then don't.
Give it to me and I’ll take real good care of it.
I don't think you told good news all bad news. You just sell it the truth like it is I appreciate it. A lot of people don't want to hear the truth don't have anything as good as it is nice. Well the world don't work. that way.
The rich are getting richer of Greedflation!
Happens to all the Socialist dictators.
@@francismarion6400Be serious
@@francismarion6400 It seem this is why they want socialism.
Stop buying and supporting their crap!
@@francismarion6400and people keep voting for this again and again and again. Then cry when the crash comes and they suffer. Cant fix stupid only suffer with them.
I’m 64 this year, worked since I was age 10, did a 5 year apprenticeship and BSc degree and am 💩 scared to retire as have got a dependent wife and son…..it’s all about the medical costs for me and them. They just want us to die after working all our life……Musk got a $60,000,000,000 pay day today…..WTF 🤬
Yeah and Musk says he wants to save the world. He should start feeding and housing people
Musk is a private citizen. Be mad at the people destroying your dollar.
I'm retired and keep a few CDs at the bank. I take just the interest out at the end of the year, which is enough to pay for my homeowner's insurance, car insurance, property taxes, utility bills and some extra spending money for the entire year. That way I don't have to touch any of my retirement money, which is working hard for me and don't have to pay taxes on the interest because I make sure it's under my personal tax exemption.
The bank will send you a 1099 for the interest they paid you and if it's over 600 dollars you're going to pay some tax,interest payments aren't free...
You must have a few million invested in CDs to make that much in interest.
@@andrewgleason586 Wrong. Did you read his last sentence. His interest is under the personal tax exemption that we all get of $14,600.
@@recabitejehonadab2654 Wrong. I have laddered 26-week T-bills averaging 5.3% and will have over $19,000 in interest for this year. If you do the math, you will know what principle I have. Much less than millions.
@@Cfrancis1968 yea if you file your taxes properly,it's still counted and documented
Michael i'm with you taxes should just disappear, go away. Thanks for Sharing...
I have a small house that is paid off, $270,000 in a retirement account and Social Security. And a part-time job right here in about $1200 a month. And I feel lucky. I know to many people it would be nothing but I see other people around me and compared to them. I’m doing pretty good. It also helps that I live in nowhere‘s Ville.
Where are the protests for car insurance and groceries? Who cares about what’s happening around the world? Good grief!
have you noticed nobody has a car anymore? i ride a bicycle. if i need a car i'll rent one for a week. THANKS BIDEN
American war spending depreciates our currency and makes goods more expensive through supply chain disruption and economic sanctions.
They are to busy protesting on behalf of terrorists
@@bobs5596 I've noticed that idiots still keep buying brand new cars where I live.
Repos will be insane in 2025.
You got that right. People aren't playing the game right. When It depends on their survival they don't protest rather they go hid under a rock hoping not to be found.
Every job pays below 70k in my state unless you are the top 10% of professions. No point in working anymore. Nurses making the same as a Maintenance Technician in a trailer park. Upside down world.
All three parties are absolute trash !! They're all in bed together damn it !!
Exactly. But most people won't care until they're forced to care.
@@coleycole5344 My team is better than your team hurrdurr /s
@@AlexParkYT Why the hell do they walk around in public with their 'I voted' sticker on? These people are so silly.
3 parties?
Yeah they are wasting enormous amounts of money instead of benefiting society
With corporate America's subterranean world complete, surface life will be left to ashes
I hope they don’t eliminate Social Security
I think you should have the right to opt of Social Security.
I hope they do end it because they still take my "contribution", but I will never see it. I am much better off investing my "contribution" on my own.
I hope they do. Heck they already bankrupted it. Now it’s just a Ponzi scheme.
They'll just print more money
They will crank up the printing press before they cut benefits.
A toast to all us savers! Finally!
You are so right on the jobs report I'm so glad you talked about this.....
I always enjoy your show .. very informative!!
Having more money than ever before doesn't make a difference if the value of that money is worth less than ever before.
There are people online spreading that LIE! Somebody's making money, but it aint you!
Social Security also takes $175 a month for Medicare unless you receive medicaid to cover it😢!
I pay more . IRMMA
my dads meds are 5000, for heart and back pain cream for arthritis... he is on that and pays zilch (northern state, with 1 stop light)
Man oh how I wish I have medicaid with my Medicare Advantage cause that will be a luxury for myself😢😊.
If you are reasonably healthy, don't take a lot of meds, you can get a PPO MA plan that gives back the medicare premium. I am on a PPO, I get back all but $10 each month. I rarely see my doc maybe once a year if that and take only one generic RX, free on the plan. If you are healthy as well check them out but get a good broker.
@dertythegrower yup dickofinac. I had it. The 3 percent is now thousands of dollars! I get the 1 percent volteran at wm now. Can't afford the prescription anymore. Castor oil rubbed on can also help...a little. Good luck to your dad
Michael Miami has had 17 inches of rain and its still raining.
Yeah I’m down here now. Air traffic is stop n go all freakin day.
@@mowtivatedmechanic1172 terrible. Stay safe
Send thar extra rain to Lake Mead in Nevada. We need it. 😂
@@mowtivatedmechanic1172we could use some of that up here in Jacksonville area. Bad.
Miami heat is sexy. 😮
06:00 Michael, I'll be 62 in September and I know I'll be working at least until I'm 75 if not for the rest of my life, so it might as well be something I like. Retirement is for boomers and rich people, sayeth Generation X
70 and still working
Yup, All I ever hear about is Boomers, Millenials and gen Z. No one cared how hard it was for X, we just had to make it happen. Sink or swim. We will still be working while paying for student loan forgivness and free minimum basic income for people to stay home after their job got taken by AI.
Some people are miserable after retiring - My husband has the means but has no intention of retiring, Work gives him purpose plus he would miss his work family and the socialization that stems from his work.
And people called me dumb for joining the military at 19. Retiring at 40, get a check for the rest of my life from that and VA and will probably get a job teaching for fun money. Worked out pretty good. 🤙
One good thing about getting older and getting handwd a pink slip...I'm no longer feeding the beast and no longer adding to my pile of crap, I'm getting rid of crap. The only thing I buy today are the bare essentials and I've never been happier..
_"The bourgeoisie are the only revolutionaries."_
When the poor and disenfranchised struggle it's because they're, "lazy, stupid, and don't work hard enough." Recently, Kathy Hochul, the Governor of New York, said, “Right now, we have young Black kids growing up in the Bronx who don’t even know what the word computer is. They don’t know, they don’t know these things." It wasn't long ago when the middle class agreed with Kathy Hochul. The middle class profited from their hard work. They deserved the money they made. "Redlining" was made with a Sharpie. NIMBYs don't care about the struggles of others. Now that the ordinary rich are struggling, being buried by inflation, bills, taxes, and fees, there's a problem. Of course, the problem is not because they're lazy, stupid, and don't work enough. And the super rich whom Biden said he'd force to pay taxes, like Microsoft worth $3 trillion, get a $3.3 billion social welfare check.
but why would you fgive money so people in the Bronx can see a computer. Can't they work ? Why do people always have their hand out.
you forget to mention for that 3.3 billion - how much the country makes through employee taxes, international sales etc
@@garethwilliams4467 yeah like the employees and the government are doing so much better now that we gave tax cuts to the rich and large corporations.
@@garethwilliams4467make sure to use your whole tongue when licking the backside of the rich guy🙄
@@theboyisnotright6312 I am the rich guy ... that's right. Would you like a handout ? I can spare some change
Y don’t you say it. We’re paying wealthy peoples taxes.. and we really need to stop doing that. And you should start with stop paying local taxes.. I can tell you right now that your city Council town Council Township whatever they’re corrupt. They’re not worth money they’re making. That’s a fact.. I can also tell you that the people that are running your city or town have expertise and basically nothing. You are getting ripped off. That’s a fact.
Agreed. Most of my taxes are municipal, by far. I get nothing for it except a patrol car driving by once in a while and a volunteer fire dept. No kids in school, and even so, the graduates cannot do math without a calculator. Municipal governments serve the unions, and unions are taxing us. Pirates.
🤛
Has it always been this way with retirement? Nobody I knew growing up was able to retire. People just got old and died or their kids took care of them.
When pensions existed people had good, secure jobs and had the ability to retire.
@@user-lf2lf6wy4z All my relatives had pensions from "Ma Bell", General Motors etc. It was easy to retire with a pension and ssa.
It's always been a 'specific' demographic of US households. Typically they are city or state employees.
I'm 30 and rather successful, but don't have retirement plans.
Nobody in my family ever got to properly retire in the private sector. Almost all of them were laid off, then proceeded to maintain a paid off home and SS as their retirement.
I know one guy (married) that has a UPS pension; he started in the 1980s.
The rest of the successful retirees I know are all public sector; cops, firefighters, teachers, etc.
pretty sad and people think that capitalism is this great system
@@frenchfred3 It isn't great?
I don't get why anyone in the right State of Mind will expect you to give out good news in this type of economy.
I like your channel. Just keep it real and tell it how it is!
Michael: As you know net worth doesn't mean anything if you can't use it to grow it. I could easily take 100K on my house BUT that would jump my mortgage from 4% to 7.x% and where can you put money right now to cover that and grow? With this inflation all I would be doing is digging a very deep hole.
Place $100K in an annuity with a cap of 10% and a bottom of 0% and you'll be fine by the time you retire. Just have to research which insurance company you place the money with. Also, some don't charge fees.
@@DIVISIONINCISION I'm 70
@@hazcat640 You had your whole life to save money.
@@DIVISIONINCISION Where did I say I didn't have any? Reread my original comment and apply some comprehension skills.
@@hazcat640 $100K is nothing. That money should have been in an IRA or Annuity years ago. Why you're waiting until 70 is beyond me. I hope you don't out live your savings.
Too many base their net worth on their stock market holdings, which can disappear tomorrow, I base my net worth on what I have in my bank accounts, my homes that are owned, and other valuable assets.
Stock market is a scam.
You don't have any money in bank accounts. You gave them a loan.
@@hvaball150 WHAT?
@@hvaball150Wholesale interest on savings doesn't pay as much as inflation either.
I’m always amazed how people consider only net worth instead of adding cash flow. I could be net worth in millions, yet still can’t pay the bills.
We are all tired of.... let them eat cake, we have to unite, and create change by voting Representatives that are focused on fixing things and the middle class power to the people don't pay attention to either party that is becoming too extreme they are all creating wealth for themselves absolutely no more radical right or left help when we can but spend our money at home America take care of our family We Are One
I love how you address this topic with such honesty.
Another bot
Michael you wish will be granted because taxes are illegal. The new money system is coming and all the taxes you paid will be returned as well as the money from your birth certificate. We all have been traded on the stock exchange.
diane is a bot dude in india
@@joycedudzinski9415 Good call, you noticed also 👍 totally a bot
Hi Michael from Paducah! We're a sleepy little drinking village with a fishing problem 😂
You're not a fishing village with a drinking problem? 😂
What problem with politicians is they love to spend money. If you give them more money, they will spend it. There’s no way that they’re gonna spend money on the deficit pay down.😇
I love having multiple job. FL has always been low wage state. Taxes are to low on the top 10%. Why do we cap Social Security contributions. Why would a person making 500k pay the same amount of money into Social Security as a person making 1 billion?
Thank you for all of your information!
Hey Michael! Welcome to Louisville Kentucky!
Been enjoying your videos for a few years and always look forward to your next!
So strange seeing you in my town…..
I’m 68 and still working in the medical field. I went part time in January and have no immediate plans to fully retire. I’m financially comfortable but with the cost of living and not wanting to scale back , I’m ok with this . I’m in excellent health and living my fullest, I’m fine with putting in a few hours at work so I can create a buffer to today’s financial landscape.
Keep doing what you’re doing Micheal… it’s my daily reminder!
home of 1985 Indianapolis 500 champ Danny Sullivan and Muhammand Ali!
How are rent and home prices there? I would like to move out of Las Vegas in the next 5 to 10 years and would like to go to an area of the country that has a lower cost of living. Emporia, Kansas is at the top of my list so far.
I agree with your numbers. Just because it looks like there is less unemployment, doesn't mean squat. People are getting any kind of job they can in order to have something vs. nothing coming in. So you're right in that a lot of people who are working, still aren't able to pay their bills. Probably what little they pay on their credit cards goes towards the interest, they aren't paying down any principal and that's a shame. Living paycheck to paycheck these days, couldn't be a truer statement. Btw, thanks for the bridge(s) shot, that was an awesome site, I love bridges!! 🥰
Hello, Michael. I wanted to take the time to write to you. I've been a subscriber to your channel for about 6 months, and in that time, I've come to really like your style. Watching your videos tends to be one of the highlights of my day. I like both of Michelle's ideas about raising taxes so that we can fund things that the country really needs. Like you said, in order for such changes to work, there would have to be a system in place to ensure that those funds are spent as intended and that they don't up in the bank accounts of one-percenters.
The net worth gains have been feeling good! Everyone who have bought property in 2022 and earlier has had a significant increase in wealth. Everyone who sat on the sidelines basically stayed stagnant. Even people with stocks had an increase.
When determining household wealth increase or decrease it is better to use the median instead of the average. That way half of the people are above that number and the other half of the population is below that number.
Don’t worry, just stay home for two weeks and everything will be all right🤣
Thanks for sharing.
Love your videos. I learn so much from the information you gather. Love your walks. Keep it up!!
Uncle Sam’s foreign policy is crushing the greenbacks, ya’ll. 💯
The sad adder to those having to work 2 or 3 jobs to get by, is, they also don't get employer paid health benefits/insurance, so anything even close to being a sever injury is going to be a substantial cost.
Louisville Kentucky 🤩!!! My dad was from there . Went to college there . He passed away at beginning of covid . Go Cardinals !!,
Dont pay hospital bills problem solved
Most folks do not understand that you can tell the hospital what you can pay each month and they have to take it. They cannot charge you interest on that bill.
NEVER use a card to pay it, write them a check and never pay more than that or they will jack it up. Do not use your credit card to pay for it or you are screwed.
Cost of living is off the charts
Work hard, own nothing, eat nothing and be happy! its all by design of the few...
Aren't More and More People Coming OUT of Retirement Because the Standard of Living is Way Higher then they can Live on? and is Still Going Higher?
Great video, MICHAEL🇺🇸🇮🇹
I think your net worth is depending on how you budge it and how you live.
Net worth is the value of all assets, minus the total of all liabilities.
I'm 71. I got 16.55% in the 80's. Today's inflation is worse than then. They altered the calculation factors to make it look better. They never hiked high enough to fight inflation this time.
Well, I feel I'm getting richer because the way I downsized and it was small and alternatively I have more money in my pocket. I'm more disposable cash in my pocket than when I used to pay high rent as I'm about less money. How weird is that?
Based on fidelity retirement calculator set for significantly below average returns and not counting some part time income that I will still have awhile, I am at 135% chance of success. Now granted I already live skimpy minimalist. As long as I don't have to move I will be fine. Then if I have to move I still have a 101% chance calculated and this is to 97yo.
Between the housing wealth along with stock market and generational money.. think it’s going to be a long time before any severe downturn happens
Thanks!
Thank you very much, Scott!!
Love your videos Michael!