How are your savings?

[Tinytim]

Dying or staying home with you must suck as his only options.

Lmao

 

[Shinneryfarmer]

Just wondering how savings going up for 65% here with the prices of gas and just about everything else going up, bidenomics working?

Well when you have no debt and a decent income, still live within reason you can absorb the 20, 30, 50 or 100% inflation. Still able to increase savings, just not at the rate before Bidenomics. I can live on less than half of wages I recieve after taxes. I assume being alot here are older they are in similar situations.

 

[foghorn918]

Our take home is more in retirement than it was working and our living expenses are well below that income

 

[SlugSlinger]

Just wondering how savings going up for 65% here with the prices of gas and just about everything else going up, bidenomics working?

I think that split may represent those who either manage to live well within their income and those who were already living paycheck to paycheck.

 

[Pstmstr]

Just wondering how savings going up for 65% here with the prices of gas and just about everything else going up, bidenomics working?

A lot of people here tend to be those who work or have worked and now retired. Inflation has decreased the ability of some to save and increased expenses. Also, as with any Internet forum, people tend to talk about what they have done right versus mistakes they might have made. I think back on what I could have in the bank versus what I do and it is sickening but I am better off versus where I would have been if I hadn’t stopped making stupid choices. I’m sure the poll would be different if it was on TikTok or taken among those with a defeated attitude like a couple of members here have.

 

[crrcboatz]

Just went back into debt with a new vehicle, could have bought it outright but CD is paying 5.25% and loan was 3.99% so just left the savings alone.

Could drive new vehicles for the last 15 yrs but buy and drive good used upper end suvs. Rolling stock makes no sense to me.

 

[crrcboatz]

Im debt free and retired on a fixed income so I have to be somewhat reserved but I do pretty well with my Pension and investment returns.
Not worried.

Retired, have everything I want or need. Give to my church cheerfully, and save money in my 70s. Why? Because I’m blessed and cash is king with the future looking the way it does

 

[BlackRifle]

Our take home is more in retirement than it was working and our living expenses are well below that income

Exactly my situation.

 

[John6185]

Could drive new vehicles for the last 15 yrs but buy and drive good used upper end suvs. Rolling stock makes no sense to me.

But people are keeping their vehicles longer now and the mileage is pretty high by the time they are ready to trade for a new car. Things aren't like they used to be, some people are trying to stretch the dollar.

 

[Dorkus]

Our take home is more in retirement than it was working and our living expenses are well below that income

One thing people seem to miss is that when you are retired, you no longer have savings contributions. So if you made $100k a years and put $20k in savings, in theory you would only need $80k to stay current. Pending other expenses remain similar.