SL, my response to Tiki...
Posted by: langlui
In reply to: TikiGal who wrote msg# 1212 Date:3/26/2008 8:09:19 PM
Post #of 1213
that's the problem Tiki. Americans are known to have the bad habit of spending more than they can afford. To make it worse, they borrow money from future to spend NOW. People like to spend spend spend, and when the bill comes, they can't pay!
99% of Americans are in debt. What happens to the Roth IRA? 401K plan? People just don't like to start saving for retirement. 30 years later, the social security system is going to go bankrupt and those Americans are still relying on the government to take care of their retirement? Heck no!!!
I don't think that way. I will never spend more than what I can afford. I have 6 months of emergency reserves in my account. I have Roth IRAs and 401K. I pay off my credit card bills every month.
No wonder only 1% of Americans are rich and can enjoy retirement. And 99% of Americans can't retire and will be broke and working at Wal-Mart and McDonalds at age 75.
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