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That's exactly why such claims are not facts, but mere predictions.
We agree.
That's exactly why such claims are not facts, but mere predictions.
We agree.
Human-Americans hauling in the filthy lucre, because this is Yoni's America
U.S. incomes ‘fell more after than during recession’
US household incomes fell more in the two years following the end of the recession than during the downturn itself, according to a New York Times report published on its website.
A study by two former Census Bureau officials said inflation-adjusted income fell 6.7 percent, to $49,909, between June 2009 — when the recession ended — and June 2011, the newspaper said.
During the recession — from December 2007 to June 2009 — household incomes fell less than half of that, 3.2 percent, according to the report.
http://www.rawstory.com/rs/2011/10/1...e+Raw+Story%29
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And it's all their criminalized, loser faults for not grabbing the numerous, on-the-table-just-dying-to-be-grabbed opportunities to be millionaires. Anybody Can Do It in The Land of Yoni Opportunity!
Cain won't kill everybody's Able-ity to become millionaires.
Pressed About His Plan To Raise Taxes On Food, Herman Cain Says Poor People Should Just Buy Used Goods
In response to sharp questioning from the moderators and his fellow contenders about the effects of his plan, which would raise taxes on common food items to pay for a massive corporate tax cut, Cain seemed to have settled on a simple solution: the poor should just eat used food and buy used goods.
http://thinkprogress.org/economy/201...ain-food-used/
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Cain grovelling for votes
Used food?
Yeah, there's not a steady dose of WTF in every line is there?
lol unelectable
He's actually right tbh. Only problem being that saving for 51+ years means you're retiring at around age 70 (assuming you entered the workforce in the 18-20 range like most do) and an investment that maintains a steady 6% rate over 51 years isn't certain when there are unforeseen events like the 2008 crash that probably ed with your investment.
The 35 years @ 10% thing is wrong tho assuming my math is right.
Last edited by DUNCANownsKOBE; 10-13-2011 at 11:33 PM.
We all produced used food, sometimes multiple times a day. Doesn't look or smell too tasty though.Used food?
And yeah 51 years from now $1,000,000 isn't gonna be worth anything close to what it's worth today. It certainly won't be enough to retire on.
Ya, hence the
Didn't bother to check the math on 35 years though. Probably more
Soylent Brown anyone?
you can watch inside job here http://www.movie2k.to/movie-525565-Inside-Job-film.html
Was there some kind of a mistake made? I can see charging tax of prepared food and maybe ready to cook foods, but not necessities.Used food?
Yeah, there's not a steady dose of WTF in every line is there?
lol unelectable
Now I notice the video starts in the middle of the question. I think some context is missing.
That's how the sales tax works in Texas. Things that are considered life essential (like un-prepared food at the grocery store) are not taxed. Fast food and prepared food in restaurants is taxed.
What do you think of the video starting after the question started, and not hearing the whole question?
Meh...not going to speculate without any info.
I'm willing to entertain that possibility. I wonder if the entire clip is available somewhere?
It's only a matter of time.......
rofl Herman.
http://www.cbsnews.com/8301-503544_1...69-503544.html
Seemed quite serious to me tbh.Presidential contender Herman Cain was joking when he promised his administration would build a 20 foot electrified fence on the border with Mexico to keep out illegal immigrants.
At a pair of campaign stops in Tennessee on Saturday, Cain said the United States has an immigration crisis and he would be willing to put U.S. troops on the border in addition to the barbed-wire fence with a sign that says "it will kill you -- warning," the New York Times reported.
Basic equation. Do that for each cash chunk, slowly reducing the number of periods of compounding.
http://en.wikipedia.org/wiki/Compound_interest
A more advanced equation, that shows how to calculate a series of cash flows and their compounding:
It gets wickedly more complex, but that should do it. (reasonably sure about the underlying equations, I usually let excel handle it)1.FV(A) is the value of the annuity at time = n
2.A is the value of the individual payments in each compounding period
3.i is the interest rate that would be compounded for each period of time
4.n is the number of payment periods
(edit)
Best to make the periods into months, and break the interest rate out into a monthly rate as well, to be a bit more reflective of reality.-RG
(end edit)
To get to $1,000,000 in forty years at 6% return (over inflation) would require a constant saving of about $500 per month, or about $1100/month at 3% return.
My best guess is that your average 18 year old will need somewhere on the order of about $2M by the time they hit 65 to retire at a minimal level.
Health care costs are going to royally a lot of people, who planned on being somewhat healthy when they get to that point, but who are ending up in reality being much sicker than they had saved for.
Last edited by RandomGuy; 10-17-2011 at 11:46 AM.
I would buy that a lot more if the components of the DJIA were held constant over that period of time.I know I'm going to regret re-engaging you.
The fact that they adjust the components, dropping laggards, adding strong/large companies, tends to skew it, to my understanding.
The principle does hold though: The longer the time period the easier it is to get an overall consitant return, and the US stock markets have been remarkably consistant over the last decades that people have been paying attention.
Still, the only thing certain is change, and I am not entirely sure the next 40 years are going to see the DJIA returns anywhere near 10%. Unless of course they re-jigger the index, a LOT.
Basic equation. Do that for each cash chunk, slowly reducing the number of periods of compounding.
http://en.wikipedia.org/wiki/Compound_interest
A more advanced equation, that shows how to calculate a series of cash flows and their compounding:
This is a pretty generous estimate tbh, 45-50 years from now I think you might need a lot more than $2M to retire.
(edit)
A good rough sketch can be had for anyone using a nifty little online calculator at Yahoo personal finance:
http://finance.yahoo.com/calculator/retirement/ret02
No, actually it isn't.
Remember that when you start drawing on the money, the first few years gets you drawing down mostly interest, making the pile of cash seem a lot larger.
If you try out the calculator, they do a rather good little graph that shows this effect.
If you want to see what effect that interest has, then set the "post-retirement return" to zero.
If my post-retirement return is the same 8% that I got before, then I only need about 2.5M. If that is zero, then the required figure jumps to $6M
(both assume no social security, an unlikely assumption)
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