It is amazing how delusional younger people are, was reading

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cwtcr hokie
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It is amazing how delusional younger people are, was reading

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an article this morning that stated that 66% of 21 -35 yo have ZERO saved for retirement. They interviewed 4 people and all of them were worried about retirement but thought even tho they are doing nothing to be able to that they would retire in their 50's or 60's no problem. Yes, if you win the lottery or inherit a ton of dough but otherwise they are delusional... sad
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Re: It is amazing how delusional younger people are, was rea

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cwtcr hokie wrote:an article this morning that stated that 66% of 21 -35 yo have ZERO saved for retirement. They interviewed 4 people and all of them were worried about retirement but thought even tho they are doing nothing to be able to that they would retire in their 50's or 60's no problem. Yes, if you win the lottery or inherit a ton of dough but otherwise they are delusional... sad
This is only part of the story though. What's their income level, what's their student loan debt level? How much discretionary income to do they have to put towards retirement? It's irresponsible to not save for retirement if you have the discretionary income, you can't call it that if you don't have the income to save.
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Re: It is amazing how delusional younger people are, was rea

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ElbertoHokie wrote:
cwtcr hokie wrote:an article this morning that stated that 66% of 21 -35 yo have ZERO saved for retirement. They interviewed 4 people and all of them were worried about retirement but thought even tho they are doing nothing to be able to that they would retire in their 50's or 60's no problem. Yes, if you win the lottery or inherit a ton of dough but otherwise they are delusional... sad
This is only part of the story though. What's their income level, what's their student loan debt level? How much discretionary income to do they have to put towards retirement? It's irresponsible to not save for retirement if you have the discretionary income, you can't call it that if you don't have the income to save.
A true socialist was a legit candidate for president in the US-yes. These people want the government to take care of them, they don't think "rich" people pay enough taxes, and they think they are entitled to your wealthy fathers estate when he dies- not you, them. They hate CEOs and they think all whites are "priveleged". Yeah, no shirt they don't have money saved for retirement. they are too busy resenting succesful people and thinking nanny is going to take care of them when they turn 62.
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Re: It is amazing how delusional younger people are, was rea

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ElbertoHokie wrote:
cwtcr hokie wrote:an article this morning that stated that 66% of 21 -35 yo have ZERO saved for retirement. They interviewed 4 people and all of them were worried about retirement but thought even tho they are doing nothing to be able to that they would retire in their 50's or 60's no problem. Yes, if you win the lottery or inherit a ton of dough but otherwise they are delusional... sad
This is only part of the story though. What's their income level, what's their student loan debt level? How much discretionary income to do they have to put towards retirement? It's irresponsible to not save for retirement if you have the discretionary income, you can't call it that if you don't have the income to save.
Yes life choices was part of it, the delusional part is thinking that they can comfortably retire with no prior planning....it does not work that way, now granted some will die and never get to retirement area but if you do and you have no pension or other source of income..... you will still be working
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ElbertoHokie wrote:
cwtcr hokie wrote:an article this morning that stated that 66% of 21 -35 yo have ZERO saved for retirement. They interviewed 4 people and all of them were worried about retirement but thought even tho they are doing nothing to be able to that they would retire in their 50's or 60's no problem. Yes, if you win the lottery or inherit a ton of dough but otherwise they are delusional... sad
This is only part of the story though. What's their income level, what's their student loan debt level? How much discretionary income to do they have to put towards retirement? It's irresponsible to not save for retirement if you have the discretionary income, you can't call it that if you don't have the income to save.
Everyone has discretionary income. That's the fallacy in your thinking, not seeing what's really available. And before I get some herp about the poor not being able to do it, I've seen the Vietnamese boat people do it. They came here with nothing, worked minimum wage jobs, saved, and then used those savings to start their own business or buy rental properties. They're well off now by saving their pennies rather than partying, getting a smart phone, cable, or spending on all the things you apparently see as essentials.
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I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
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ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
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ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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True. Society has lost the concept of delayed gratification. Instead of winning by doing the little things right, we're swinging for the fences all the time and striking out in the process. Life by the yard is hard, but life by the inch is a cinch. Going big time most often produces big failure. We're also spoiled and classify discretionary items as essential. The entitled people are massive losers as they give up the small victories in hopes of that one big hit or to have someone else just give it to them.
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awesome guy wrote:And before I get some herp about the poor not being able to do it, I've seen the Vietnamese boat people do it. They came here with nothing, worked minimum wage jobs, saved, and then used those savings to start their own business or buy rental properties.
Yep - they also brought strong families with them.

Good ex-Navy friend of mine came over in '72. They came with nothing, and have achieved a lot. He voted for Trump and hates commies more than me. His daughter started at VT last fall.
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USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
I think there's something to that. Not just the broken psyche, but discipline is typically taught by the father. When he's gone, only the emotional impulses of the mother are taught, usually with her crying and screaming as she's also broken and mad at the father.
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USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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ip_law-hokie wrote:
USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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Why is he FOS? You don't think divorce crushes children or the parents? All research refutes that.
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awesome guy wrote:
USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
I think there's something to that. Not just the broken psyche, but discipline is typically taught by the father. When he's gone, only the emotional impulses of the mother are taught, usually with her crying and screaming as she's also broken and mad at the father.
Yep, and it works in ways we still don't completely understand.

Something I learned in the last year is that girls in single-mom households have onset of puberty, on average, a year earlier than those in intact households. No one knows exactly why, but it's thought that pheromones from dad suppress puberty in girls.
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USN_Hokie wrote:
awesome guy wrote:
USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
I think there's something to that. Not just the broken psyche, but discipline is typically taught by the father. When he's gone, only the emotional impulses of the mother are taught, usually with her crying and screaming as she's also broken and mad at the father.
Yep, and it works in ways we still don't completely understand.

Something I learned in the last year is that girls in single-mom households have onset of puberty, on average, a year earlier than those in intact households. No one knows exactly why, but it's thought that pheromones from dad suppress puberty in girls.
We understand it. The brain creates neuro pathways, especially around trauma. So then when current events are processed, they flow through these same pathways. When they're constructed in misery and failure, everything is tainted with that memory. Conversely, pathways built on success also influence the event processing. That's why failure and success build on each other, the underlying pathways influence how reality is perceived, interpreted, and processed. The more success pathways you have, the more likely you are to succeed as the past is leveraged or deleveraged with failure. Divorce establishes failure pathways.
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Re: It is amazing how delusional younger people are, was rea

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awesome guy wrote:
USN_Hokie wrote:
awesome guy wrote:
USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
I think there's something to that. Not just the broken psyche, but discipline is typically taught by the father. When he's gone, only the emotional impulses of the mother are taught, usually with her crying and screaming as she's also broken and mad at the father.
Yep, and it works in ways we still don't completely understand.

Something I learned in the last year is that girls in single-mom households have onset of puberty, on average, a year earlier than those in intact households. No one knows exactly why, but it's thought that pheromones from dad suppress puberty in girls.
We understand it. The brain creates neuro pathways, especially around trauma. So then when current events are processed, they flow through these same pathways. When they're constructed in misery and failure, everything is tainted with that memory. Conversely, pathways built on success also influence the event processing. That's why failure and success build on each other, the underlying pathways influence how reality is perceived, interpreted, and processed. The more success pathways you have, the more likely you are to succeed as the past is leveraged or deleveraged with failure. Divorce establishes failure pathways.
This is also why winning small creates success. Doing something trivial like making your bed creates or reinforces success pathways. The smaller pathways eventually create larger ones so that pathway becomes the default, a habit, or intuitive path. Subsequent events will follow that same pathway. Neural networks are logarithmic or compounding in the outcomes they produce. Old school had it right with stuff like 1+1+1=4 being correct. That's to say success in mind, body, and soul produces more than the sum of the parts. Success and failure are compounded.
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awesome guy wrote:
awesome guy wrote:
USN_Hokie wrote:
awesome guy wrote:
USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.
I think there's something to that. Not just the broken psyche, but discipline is typically taught by the father. When he's gone, only the emotional impulses of the mother are taught, usually with her crying and screaming as she's also broken and mad at the father.
Yep, and it works in ways we still don't completely understand.

Something I learned in the last year is that girls in single-mom households have onset of puberty, on average, a year earlier than those in intact households. No one knows exactly why, but it's thought that pheromones from dad suppress puberty in girls.
We understand it. The brain creates neuro pathways, especially around trauma. So then when current events are processed, they flow through these same pathways. When they're constructed in misery and failure, everything is tainted with that memory. Conversely, pathways built on success also influence the event processing. That's why failure and success build on each other, the underlying pathways influence how reality is perceived, interpreted, and processed. The more success pathways you have, the more likely you are to succeed as the past is leveraged or deleveraged with failure. Divorce establishes failure pathways.
This is also why winning small creates success. Doing something trivial like making your bed creates or reinforces success pathways. The smaller pathways eventually create larger ones so that pathway becomes the default, a habit, or intuitive path. Subsequent events will follow that same pathway. Neural networks are logarithmic or compounding in the outcomes they produce. Old school had it right with stuff like 1+1+1=4 being correct. That's to say success in mind, body, and soul produces more than the sum of the parts. Success and failure are compounded.
This also explains why gamers are typically losers. Their neuro-networks are built around a fictional universe and so don't translate to the real world that easily. They can though and other games like sports do translate well. This also highlights why humans use metaphors, we're essentially communicating which neuro-pathway to follow.
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awesome guy wrote:
ip_law-hokie wrote:
USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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Why is he FOS? You don't think divorce crushes children or the parents? All research refutes that.
The part about 20 year olds not saving for retirement because their parents got divorced? Not buying it as a proximate cause.

Didn’t we decide that millennials were silly for sacrificing now for an early retirement?


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A few years ago I created the underwriting software that has now funded tens of billions in loans. When I first developed the software I looked at a lot of the accepts and rejects to make sure it was working. This consumed my life in 2014 and 2015. The software still runs today.

If you look at the credit reports of a few thousand Americans, you will not believe what train wrecks a lot of people are. It is hard for me to say what percent of America are train wrecks because I am only looking at people who specifically applied for a loan, so I am not seeing rich people or people who don’t need money, so the sample is skewed.

However, I have no problem leaving this country and giving up my citizenship if they ever start confiscating non income(ie balance sheet)wealth to pay for all these deadbeats.

A Plan B is a good idea.


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ip_law-hokie wrote:
awesome guy wrote:
ip_law-hokie wrote:
USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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Why is he FOS? You don't think divorce crushes children or the parents? All research refutes that.
The part about 20 year olds not saving for retirement because their parents got divorced? Not buying it as a proximate cause.

Didn’t we decide that millennials were silly for sacrificing now for an early retirement?


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It's not just 20 year olds, it's all millennials. But you can't see how living in depression and anxiety subverts planning for the future? They're thinking about the current pain and not the future, much less a happy one as they assume the future will be just as miserable as the present.
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USN_Hokie wrote:This may seem off the wall, but I think a large part of it is the epidemic of broken families and what that does to the psyche of a kid. When it feels like your life is collapsing around you, you live for today. That means free sex, overpriced apartments, and no savings for a future that's uncertain. Or, maybe I'm just FOS.

I think broken homes are responsible for a lot of today's problems. When women were given the vote, men (and thus, the nuclear family) became competitors of the state.

I agree with the broken homes point.
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ip_law-hokie wrote:
USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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Ahh, so broken and fatherless homes have no ill effect on the children that come from them?
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Post by Major Kong »

I was taught early to not fall into the credit card trap, pay with cash or barter, live within your means (that doesn't mean live like a hermit) and enjoy life.

Even among my friends and family of my age group I'll say 90% have nothing saved up but they have their nice Lexus SUV's (every 2 years), nice 5000 sq. ft. house and every bell and whistle imaginable. Keeping up with the Joneses is a bitch.
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HokieJoe wrote:
ip_law-hokie wrote:
USN_Hokie wrote:
ip_law-hokie wrote:I think we’d all be shocked at the number of people (of any age) that have little to no retirement savings. Not seeing this as a generational thing.


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Yeah, but for the boomers, they think their mcmansion + moving to Florida or Texas is their retirement.
It could be.

I agree with your point, I think it’s your point, that people with money look at housing as a consumption expense as opposed to an investment. People who think they have money look at their (mortgaged) house as their biggest investment.

Respectfully, you are FOS on the broken family point.


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Ahh, so broken and fatherless homes have no ill effect on the children that come from them?
Blind spot.
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