Conquer Club

... I found his fascinating, and more than a little frightening. According to a survey, 40% of Americans have less than $500 in savings.

... As only 1100 were surveyed, the margin of error has to be pretty large, but the final number would still be a shock.

http://philadelphia.cbslocal.com/2012/1 ... n-savings/

...

I wouldn't be surprised.
So I make like $20k annually, roughly.
My current savings is only $2500.
Someone had said that I'm in the lower middle class...
Assuming that's true, I could most definitely believe that 40% of all Americans have less than $500 in savings.

I am the 40%

I'm not surprised.


Lazy fucks!

Timminz wrote:I'm not surprised.


Lazy fucks!

Maybe not...
I'll bet those people who make $20K a year probably work relatively hard for their money. Hence the term working class. Hats off to you guys.

Funkyterrance wrote:

Timminz wrote:I'm not surprised.


Lazy fucks!

Maybe not...
I'll bet those people who make $20K a year probably work relatively hard for their money. Hence the term working class. Hats off to you guys.

What term would you prefer?

Stoopid Fucks?

Unlucky Fucks?

Genetically Inferior Fucks?

Monetarily Challenged Fucks?

Putting in their time and hoping for a better life for their kids Fucks?

... most likely it's some combination of all of these.

You certainly aren't saying that EVERYONE whose income is less than $20K is a hard worker. Right?

jimboston wrote:

Funkyterrance wrote:

Timminz wrote:I'm not surprised.


Lazy fucks!

Maybe not...
I'll bet those people who make $20K a year probably work relatively hard for their money. Hence the term working class. Hats off to you guys.

What term would you prefer?

Stoopid Fucks?

Unlucky Fucks?

Genetically Inferior Fucks?

Monetarily Challenged Fucks?

Putting in their time and hoping for a better life for their kids Fucks?

... most likely it's some combination of all of these.

You certainly aren't saying that EVERYONE whose income is less than $20K is a hard worker. Right?

Nah, certainly not. I would never make a statement like that on these forums unless I enjoyed being tarred and feathered. I'm just saying that the term "working class" doesn't come from nowhere, right?

Funkyterrance wrote:

jimboston wrote:

Funkyterrance wrote:

Timminz wrote:I'm not surprised.


Lazy fucks!

Maybe not...
I'll bet those people who make $20K a year probably work relatively hard for their money. Hence the term working class. Hats off to you guys.

What term would you prefer?

Stoopid Fucks?

Unlucky Fucks?

Genetically Inferior Fucks?

Monetarily Challenged Fucks?

Putting in their time and hoping for a better life for their kids Fucks?

... most likely it's some combination of all of these.

You certainly aren't saying that EVERYONE whose income is less than $20K is a hard worker. Right?

Nah, certainly not. I would never make a statement like that on these forums unless I enjoyed being tarred and feathered. I'm just saying that the term "working class" doesn't come from nowhere, right?

You are right.... at least in the sense that not all of those with income less than $20K are lazy. I am sure a good percentage (maybe the majority) are hard working "working class" people.

At the same time... the percentage of people with income less than $20K also includes all those people who earn NOTHING. So losers like druggies, bums, street whores, etc. There are a ton of reasons why these people are they way they are... but included in that list... laziness is certainly one of the possible reasons. Along with bad luck and a few others.

Also... don't forget that the percentage of people earning less than $20K only factors in legal / "over the counter" or "reported" income. It doesn't include income from people working side jobs for cash or illegal activity. So there's that too.

My only reason for replying to your post is to say that NOT ALL of those who have less than $20K of reported income would be what we would call "working class".

That said... I have high respect for the working class. My wife's mother came here to this country will very little and maybe (at best) broke $20K for a couple years before she couldn't work (and we could support her), However she did it so her daughter (my wife) would have access to the educational and economic opportunities of this country. Instilling that ethic into her daughter... her daughter took advantage of those opportunities. So it's (still) possible to setup your children for success in this country with the right ethic.

jimboston wrote:

Funkyterrance wrote:

jimboston wrote:

Funkyterrance wrote:

Timminz wrote:I'm not surprised.


Lazy fucks!

Maybe not...
I'll bet those people who make $20K a year probably work relatively hard for their money. Hence the term working class. Hats off to you guys.

What term would you prefer?

Stoopid Fucks?

Unlucky Fucks?

Genetically Inferior Fucks?

Monetarily Challenged Fucks?

Putting in their time and hoping for a better life for their kids Fucks?

... most likely it's some combination of all of these.

You certainly aren't saying that EVERYONE whose income is less than $20K is a hard worker. Right?

Nah, certainly not. I would never make a statement like that on these forums unless I enjoyed being tarred and feathered. I'm just saying that the term "working class" doesn't come from nowhere, right?

You are right.... at least in the sense that not all of those with income less than $20K are lazy. I am sure a good percentage (maybe the majority) are hard working "working class" people.

At the same time... the percentage of people with income less than $20K also includes all those people who earn NOTHING. So losers like druggies, bums, street whores, etc. There are a ton of reasons why these people are they way they are... but included in that list... laziness is certainly one of the possible reasons. Along with bad luck and a few others.

Also... don't forget that the percentage of people earning less than $20K only factors in legal / "over the counter" or "reported" income. It doesn't include income from people working side jobs for cash or illegal activity. So there's that too.

My only reason for replying to your post is to say that NOT ALL of those who have less than $20K of reported income would be what we would call "working class".

That said... I have high respect for the working class. My wife's mother came here to this country will very little and maybe (at best) broke $20K for a couple years before she couldn't work (and we could support her), However she did it so her daughter (my wife) would have access to the educational and economic opportunities of this country. Instilling that ethic into her daughter... her daughter took advantage of those opportunities. So it's (still) possible to setup your children for success in this country with the right ethic.

Yeah, I suppose I consider the working class those people who are "on the books" since I am assuming that's where the figure that generated this thread came from: the books. I also don't consider someone who doesn't work working class lol, call me old fashioned. However easy someone's job is though I really don't envy someone who makes 20K on the books because whatever it is they are doing it still must be hard to make ends meet.
I always figured that the working class is the backbone of our economy and even if they are doing something "lazy", at least its not me doing it for less than I feel I should make and I am appreciative of this fact.

Funkyterrance wrote:Yeah, I suppose I consider the working class those people who are "on the books" since I am assuming that's where the figure that generated this thread came from: the books. I also don't consider someone who doesn't work working class lol, call me old fashioned. However easy someone's job is though I really don't envy someone who makes 20K on the books because whatever it is they are doing it still must be hard to make ends meet.
I always figured that the working class is the backbone of our economy and even if they are doing something "lazy", at least its not me doing it for less than I feel I should make and I am appreciative of this fact.

... though not always.

I know a family down the street... father retired teacher, his wife works hard... maybe earns $45K or so as nurse at retirement home.

Their lazy ass son (now 30yo) however does next to nothing. He basically freeloads off them and maybe does some part time crap.

He'd be one of those people earning under $20K who I would classify as "lazy ass".

The point being that there are few absolutes. Though again... i agree that for most who work and earn $20K or less. yeah it's gotta suck.

That said for those who freeload or suck off the system... no sympathy.

Of that percentage of people earning less than $20K... what percent are the hard working "working class"... versus the "other" group of freeloaders or people with unreported income. I have no idea... but no it's not all, or even close to all. Likely a majority.... maybe even a large majority.

I like the exchange here.

it's a busted system,

i know some lazy ass folks making more than 20k.
i work with a bunch of them, maybe i live in some weird reality where i am actually the lazy one and they are hard workers... it doesn't matter, still the point is the same.

i think lazy fits the whole spectrum. so luck may be a bit more of a factor than lazy.
regardlless, i guess so long as laws are put into place to protect workers, and non-workers( federal aid ). then there will be those that use them to their advantage and without shame no matter how much they need it or not.

Is that including pensions and retirment savings plans? 401K I think in 'merica.

2dimes wrote:Is that including pensions and retirment savings plans? 401K I think in 'merica.

It doesn't include those things.

What's amazing though is how people pay into a retirement plan through their work and then forget about it when their work situation changes. People forget to keep track of their information and lose access to their retirement accounts.

i have about 3 k in savings, but i also have about 12k in misc. debt.

does that count?

Well that changes everything. What kind of loser has more than $8 savings when they're under 30?

Why is their savings so low?


Whatever could be affecting interest rates and low-cost forms of saving, which would entice more people to save more?

Keeping money in a savings account is a fools errand. You're losing money.

Woodruff wrote:Keeping money in a savings account is a fools errand. You're losing money.

This is how Bernie Madoff started Woodruff. Careful.

It is only a fool errand because you don't get shit back because interest rates are so low. Instead of the U.S. govment bailing out the bank, they could have increased interest rates on savings accounts and CDs, which would increase people to save money and place in saving account, which, in turn, GIVES BANKS MORE FUCKING MONEY(and us lil people too).

Nobunaga wrote:... I found his fascinating, and more than a little frightening. According to a survey, 40% of Americans have less than $500 in savings.

... As only 1100 were surveyed, the margin of error has to be pretty large, but the final number would still be a shock.

http://philadelphia.cbslocal.com/2012/1 ... n-savings/

...

It really wouldn't surprise me if most Americans had less than $500 in savings. It's nothing I can prove, of course, but I believe personal responsibility has taken a back seat to the "Me Now" and "It's Not My Fault" culture, which leads to an interest in instant gratification without work. That, in turn, leads to no savings. Why save for two years when you can have the flat screen TV now?

Woodruff wrote:Keeping money in a savings account is a fools errand. You're losing money.

If you put your money under a mattress you'll lose even more money than if you put it in a savings account.

nola_lifer wrote: Instead of the U.S. govment bailing out the bank, they could have increased interest rates on savings accounts and CDs, which would increase people to save money and place in saving account, which, in turn, GIVES BANKS MORE FUCKING MONEY(and us lil people too).

Saving is an economic sin, don't ya know. In our economy at least.

BBS wrote:Whatever could be affecting interest rates and low-cost forms of saving, which would entice more people to save more?

The extreme fear of deflation. That is what is motivating The Fed and the Central Government to discourage saving.

Personally, a nice good bout of deflation would serve me very well. I have no debts. I work for myself and have no fear of losing my job, my job is recession/depression and anything less than Act of God/nuclear war proof. Deflation would serve to, in effect, pay me a dividend on the cash I have without me having to do a thing.

Prices and assets bottom out, I (and people in my position, that is debt free with savings) can sweep in and grab up real assets with fiat paper from desperate fools who find themselves in severe debt and limited options. God forbid prices go through a true price discovery and then maybe the "Lil People" could actually afford a home and property.

But, alas, inflation is the name of the game for TPTB. The lil people will just have to struggle to keep up. For the Good of The State after all.

Nola_Lifer wrote:It is only a fool errand because you don't get shit back because interest rates are so low. Instead of the U.S. govment bailing out the bank, they could have increased interest rates on savings accounts and CDs, which would increase people to save money and place in saving account, which, in turn, GIVES BANKS MORE FUCKING MONEY(and us lil people too).

Please explain how the gov't actually would increased the interest rates paid to Savings Accounts.

thegreekdog wrote:

Woodruff wrote:Keeping money in a savings account is a fools errand. You're losing money.

This is how Bernie Madoff started Woodruff. Careful.

HAVE I GOT A DEAL FOR YOU!!!!!

Nola_Lifer wrote:It is only a fool errand because you don't get shit back because interest rates are so low. Instead of the U.S. govment bailing out the bank, they could have increased interest rates on savings accounts and CDs, which would increase people to save money and place in saving account, which, in turn, GIVES BANKS MORE FUCKING MONEY(and us lil people too).

Yes, you have summed it up reasonably nicely. And?