[Market Watch] New research shows that more than four in 10 people who are saving a ton for retirement are slashing this essential expense.
Housing may be the key to bigger savings.
Earlier this week, a Reddit post ‐ from a 48-year-old woman claiming to be a millionaire despite having only low-paying jobs until about age 30 ‐ went viral, and in it she details some extreme frugality. She says she saves tea bags so she can make multiple cups from one bag, only eats out a couple of times a year, dilutes her dish soap with half water so it lasts longer and almost exclusively wears dark clothes as light colors stain too easily.
But she says there are two things on her long list of frugal habits that research shows really are the key to getting rich: Buying a very affordable home (hers, she says, was just $135,000 and in an excellent neighborhood) and driving an old car (hers is a 12-year-old Subaru, she says).
Indeed, research from TD Ameritrade ‐ which looks at people who save 20% or more of their incomes, called "super savers" ‐ shows that the single biggest difference between what super savers spent less on, as compared with the rest of us, was housing. Super savers spent just 14% of their incomes on housing, while regular folks dropped 23%.
What’s more, research released Monday by The Principal found that more than four in 10 people who fully funded or were very close to fully funding their 401(k) accounts said that one of the sacrifices they made to save so much was that they lived in a modest home. This -- along with owning older cars -- was one of the two top answers.
#1
Dining out is a huge ripoff. Paying someone else to clean your house or do your yard likewise. Guys can save a ton by never subsidizing the GFs salon or clothing costs.
Posted by: M. Murcek ||
01/30/2020 4:09 Comments ||
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#2
Guys can save a ton by never subsidizing the GFs salon or clothing costs.
Do men do that? Until reading that I assumed all my expenses were my own until marriage. Granted I did move in with him, but we were engaged with a wedding date a year hence at that point, and he’d been hired by a company halfway across the country.
#4
She only has cats that can hunt for their own mice. They don't return often because she doesn't provide food but she has the fulfillment of knowing her cats are happy out there somewhere.
#5
a major problem with this analysis is that 'saving accounts' are not a good indicator of 'savings'
for that matter if you add 'savings accounts and retirement accounts and actively traded equity accounts' it is still not complete
'equity' in your own home accounts for a huge share of consumer wealth and that amount is dependent on the housing market - a house with a $200k mortgage and a market value of $300k has an equity of $100k but if their is a crash and the market value is only $200k, the equity is 0000. Conversely if their is a boom and the market value is $400k, the equity is $200k.
Posted by: lord garth ||
01/30/2020 12:21 Comments ||
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#6
What good is all that money if you don't have a decent place to live?
Posted by: Abu Uluque ||
01/30/2020 12:21 Comments ||
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#7
...you might ask the residents of SanFran or NYC that.
[Daily Caller] Republican Tennessee State Rep. Micah Van Huss filed a bill Wednesday in the state’s General Assembly that would explicitly label media outlets The Washington Post and CNN as "fake news" and condemn them for "denigrating our citizens."
"A RESOLUTION to recognize CNN and The Washington Post as fake news and condemn them for denigrating our citizens," the bill’s summary reads.
"I’ve filed HJR 779 on behalf of a constituency that’s tired of fake news and Republicans who don’t fight," Van Huss wrote on his Facebook page.
The bill’s text cites several instances where The Washington Post and CNN have drawn a "line between Trump opponents and Trump supporters" by asserting without evidence or definition that Trump’s supporters are "cultists," such as when a CNN guest "suggested that Trump supporters belong to a cult and that our president is using mind control."
3-Dimensional Chess
[Babylon Bee] The impeachment hearings have been thrown into chaos after President Trump announced that he supports impeachment, forcing Democrats to oppose their own impeachment inquiry.
"Impeachment? I'm for it. Great idea. Best idea, maybe ever," he said, adding that he's "getting kinda sick of all this winning anyway."
"Sure, why not. Impeach me. I love it. Whatever. Now I'm gonna go watch Joker again. Great film. What's that guy's name? Phoenix something. Bob Phoenix, that's it. Tremendous actor---absolutely perfect."
Democrats quickly condemned his statements. Pelosi said, "It's clear that Trump wants to be impeached because he's not good at being president. Well, we're going to show him a thing or two by forcing him to stay in the White House and finish out his term."
"And Joker is alt-right propaganda," she said, falling for Trump's ploy to make Dems condemn one of the most successful, beloved films of the year.
One pundit on CNN suggested that Trump is supporting impeachment at the request of Putin or the guy from Ukraine or "whichever conspiracy thing we're pushing this month, I forget."
At publishing time, Democrats had also withdrawn from the 2020 race to teach Trump a lesson.
Posted by: Frank G ||
01/30/2020 05:45 ||
Comments ||
Link ||
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#1
Just because it hasn't happened yet, doesn't mean it isn't true. Because you know if he did, they certainly would.
America's Newspaper of Record - bringing you news and satire from all the possible timelines
[PJ] Trump campaign surrogates are being accused of violating their 501(c)3 tax status by holding cash giveaways in black communities across the country.
Politico reports that the first event, held in Cleveland last month, featured Trump supporters giving speeches praising the president while handing out cash to recipients whose tickets were drawn from a bin. The Urban Revitalization Coalition (URC), a cadre of black Trump supporters who are active in business, political and faith communities, sponsored the event where up to $25,000 was handed out.
In most big cities around America, it's called "street money." In Baltimore, it's "walking around money." In Chicago, it's part of the "Chicago Way." New York, Boston, Philadelphia, Los Angeles -- it's just a continuation of the time-honored American custom of buying votes.
But when a Republican does it, it's a no-no.
The tour comes as Trump’s campaign has been investing its own money to make inroads with black voters and erode Democrats’ overwhelming advantage with them. But the cash giveaways are organized under the auspices of an outside charity, the Urban Revitalization Coalition, permitting donors to remain anonymous and make tax-deductible contributions.
The organizers say the events are run by the book and intended to promote economic development in inner cities. But the group behind the cash giveaways is registered as a 501(c)3 charitable organization. One leading legal expert on nonprofit law said the arrangement raises questions about the group’s tax-exempt status, because it does not appear to be vetting the recipients of its money for legitimate charitable need.
Democrats have a ready-made political infrastructure that handles the vote-buying. The alderman or committeeman hands out gobs of cash to precinct captains whose job is to make sure the cash gets spread around into the right hands. Today, that means that drug gangs get their cut, as well as friendly pastors and prominent business leaders. Anyone who can help get out the vote is a target.
Republicans have no such infrastructure, so the Trump campaign had to invent a means to challenge Democrats in the contest of vote-buying. The cash giveaway scheme won't reach as many people as "street money," but it's a start.
#7
Dated a Corsican exchange student back in the day.
Extra hair didn't bother me too much.
Posted by: Mullah Richard ||
01/30/2020 11:08 Comments ||
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#8
Back after WW II some US advertisers decided to use some European models since they would be "exotic" and I suspect would work cheaper than US Models who had agents. Anyway things were goin fine until one of the photographers had the model raise her arm up for a pose. That is when the arm pit hair fanned out.
#12
As natural as one might say it is, even well into the 1990's, there were still western European women who didn't shave their legs. I guess life/the universe truly does go in cycles.
[The Federalist] In his new book, "Human Diversity: The Biology of Gender, Race, and Class," Dr. Charles Murray uses authoritative scientific findings to disprove woke dogmas like "gender is a social construct." On this episode of the Federalist Radio Hour, Host Ben Domenech and Murray discuss why we can’t ignore genetic differences between race and gender.
"The fact is that such genetic differences between populations are not scary. They do not lend themselves to superior or inferior rankings of different human groups," Murray said. "They’re the kinds of things we already recognize."
Later in the episode, they discuss issues in education, achievement tests, and the Democratic party’s disdain for ordinary Americans.
The following from the Amazon review:
The thesis of Human Diversity is that advances in genetics and neuroscience are overthrowing an intellectual orthodoxy that has ruled the social sciences for decades. The core of the orthodoxy consists of three dogmas:
- Gender is a social construct.
- Race is a social construct.
- Class is a function of privilege.
The problem is that all three dogmas are half-truths. They have stifled progress in understanding the rich texture that biology adds to our understanding of the social, political, and economic worlds we live in.
It is not a story to be feared. "There are no monsters in the closet," Murray writes, "no dread doors we must fear opening." But it is a story that needs telling. Human Diversity does so without sensationalism, drawing on the most authoritative scientific findings, celebrating both our many differences and our common humanity.
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
[Daily Caller] Republican Tennessee State Rep. Micah Van Huss filed a bill Wednesday in the state’s General Assembly that would explicitly label media outlets The Washington Post and CNN as "fake news" and condemn them for "denigrating our citizens."
[The Federalist] In his new book, "Human Diversity: The Biology of Gender, Race, and Class," Dr. Charles Murray uses authoritative scientific findings to disprove woke dogmas like "gender is a social construct." On this episode of the Federalist Radio Hour, Host Ben Domenech and Murray discuss why we can’t ignore genetic differences between race and gender.
