782
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 06 Sep 2024
782 points (100.0% liked)
politics
19138 readers
2911 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
This is an astounding level of bullshit even from a country that gives its full throated support to anyone with a net worth in the 7 figures or greater.
A million bucks isn't worth a million bucks anymore. $1,000,000 might net you $75,000 in yearly interest, before taxes. What kind of purchasing power is that going to be at retirement?
A worker earning $36 an hour wouldn't make $75,000 a year.
The millionaires are fine.
You know how much insurance costs on a Ferrari?
…/s. Any Replacements fans out there?
$33/hr. was an unimaginable amount of money to me in 1998. What's that look like when I can't work anymore, say in 2040? How about when a loaf of bread goes from $.50 to $5.50? That's how I know you're a child.
Oh, did I say $33/hr? Oops, I meant $36/hr.
$36 an hour × 40 hours × 52 weeks = $74,880
Please direct me to these ez pz 7.5% returns.
https://www.businessinsider.com/personal-finance/banking/7-percent-interest-savings-accounts#:~:text=See%20how%20we%20rate%20banking,rate%20is%20Landmark%20Credit%20Union
Probably not what you are looking for (with the limits and terms), but you get the idea.
FWIW, retirement studies would suggest a 4% withdrawal rate the first year, and increasing for inflation each year after. There are some other ways to go with this, but it's a good starting place.
It's ok. I'll take that pesky $1,000,000 and earn that paltry $75,000 in annual interest for doing nothing. It's ok. I'll allieviate you from the stress of thinking how worthless it is to you. Yes, I'll allow that.
People with your financial sophistication will be eating cat food out a can at 75. Good luck with those pesky numbers.