Tractors and (upcoming) tariffs?

[walhondingMF]

SOCIAL SECURITY was created as a safety net for those that couldn't or wouldn't save for themselves. Sort of an alternative of "tithing" to the church, then relying on the church to take care of the poor.

Unfortunately employer retirement system, in many cases, failed to be what they promised. There is a lot of argument against "social systems" because of the poor or lazy that take advantage of them. These cases are true. But what happens when a man spends his life working for a coal company and pays into retirement his whole working life. When its time to retire and collect, the employer finds a way to go bankrupt and destroy thousands of retirements? This happens far more often than anyone would know. Retired union coal miners in Kentucky, West Virginia, Ohio and Pennsylvania have had to fight for years to get the retirement promised to them.
I am a public employee and pay into a retirement system. 10 years ago, a weasel of a state treasurer invested my retirement into a private stock fund that he benefited from when he was no longer in office. The result, is that thousands of state employees lost hundreds of dollars a month in retirement. The solution to make up this difference? Increase the retirement age and the percentage pay in from the employee.
IMO, blaming the poor or lazy, which to exist, is misplaced. I choose to blame the corporate greed, price gouging and the financial manipulation of elected officials.

 

[Portuguese Farmer]

Yeah, SS isn't retirement... Unless you live in a tent and eat cat food.

Can you imagine living on $2500/mo?

All in our monthly expenses with no debit under 900€

 

[CloverKnollFarms]

Everything we have is paid off. But insurance, property maintenance, etc would eat up $2500/mo pretty quickly. The difference in our budget is that we consider costs like home/property maintenance as a monthly bill. Car repair and replacement is another monthly bill. Gifts for birthdays and holidays, another month bill. I think when most people make monthly budgets, they ignore a lot of those real costs. Even a paid for car, costs me $300/mo for repair/replacement cost. How many people are actually honest about those costs? Home maintenance... How long will HVAC and a roof last? We have a sinking fund, that we contribute to monthly, for an $8000 HVAC and $25k roof. So there is another $100+ per month for expected costs in the future.

Our nest egg "should" produce $100k/yr reliably in retirement... But when costs can double in 5-10 years, that might not seem like a lot.

I think the issue is, people aren't really honest about what they spend, or will need to in the future. They consider debt payments, utilities and groceries... Which is wholly inadequate when doing P&L for your lifestyle

 

[Portuguese Farmer]

Everything we have is paid off. But insurance, property maintenance, etc would eat up $2500/mo pretty quickly. The difference in our budget is that we consider costs like home/property maintenance as a monthly bill. Car repair and replacement is another monthly bill. Gifts for birthdays and holidays, another month bill. I think when most people make monthly budgets, they ignore a lot of those real costs. Even a paid for car, costs me $300/mo for repair/replacement cost. How many people are actually honest about those costs? Home maintenance... How long will HVAC and a roof last? We have a sinking fund, that we contribute to monthly, for an $8000 HVAC and $25k roof. So there is another $100+ per month for expected costs in the future.

Our nest egg "should" produce $100k/yr reliably in retirement... But when costs can double in 5-10 years, that might not seem like a lot.

I think the issue is, people aren't really honest about what they spend, or will need to in the future. They consider debt payments, utilities and groceries... Which is wholly inadequate when doing P&L for your lifestyle

I included everything, my number is an average from 3 years living here, all inclusive.

 

[CloverKnollFarms]

All in our monthly expenses with no debit under 900€

That's fantastic. We are completely debt free, and that is 1/4 of what we need, when you consider everything from groceries, to utilities, to insurance, fuel, car repair, car replacement, home maintenance, gift giving, tithing, internet, phone etc

 

[CloverKnollFarms]

I included everything, my number is an average from 3 years living here, all inclusive.

How much acreage do you maintain? I mean, groceries at Walmart and Aldi here for three are $450/mo alone. Throw in property tax and gas for a car, and I'm at your number. Congratulations on living for basically free.

 

[Portuguese Farmer]

That's fantastic. We are completely debt free, and that is 1/4 of what we need, when you consider everything from groceries, to utilities, to insurance, fuel, car repair, car replacement, home maintenance, gift giving, tithing, internet, phone etc

Insurance in the states is rediciouls.

 

[CloverKnollFarms]

Insurance in the states is rediciouls.

To be fair we pay about $100/mo for three cars and three motorcycles

 

[Portuguese Farmer]

How much acreage do you maintain?

12 hectacres, olive trees, no need to irragate, property tax is nothing, one lot is 3.68€ and the largest lot is right under 13€ annually, or home is 154€

 

[arrow]

We need to train ppl more about entrepreneurship than the safety of wages.
That’s how the industrialists got rich and the poor remained poor.
Does this give anyone a clue as to the purpose and intent of present day politicians ?