Comment on Keep in mind that social security is set to run out in 10 years time.

• Smokeydope@lemmy.world ⁨7⁩ ⁨months⁩ ago

  NGL im kind of halfways on that. Yes obviously thinking about investment and ways to make up passive income or even start your own buisness are the best ways to plan for a healthy retirement fund. But people who come from poverty, poorly educated to begin with, poor financial mindset, and just scrapes each week are going to have a much harder time of it and if they try they usually fall for an MLM scheme. Its easy to judge these people and go ‘well your financial failure to save up is your own fault you idiot’ but Ive had enough poverty stricken friends to know that the deeper the hole you are born into the harder it is to climb out of even with honest work and doing your research.

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  • ToeNailClippings@lemmy.world ⁨7⁩ ⁨months⁩ ago

    Exactly. You have to earn enough in the first place to save enough.

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    • Smokeydope@lemmy.world ⁨7⁩ ⁨months⁩ ago

      Either earn enough or become super frugal and cut down on the expenses to the point you can actually save with what you make The biggest thing a single person can do to reduce their expenses is cut out the rent payments by living in a vehicle for a bit while working and use that money to pay it off. But obviously not everyone has the mental fortitude to live such a radically different lifestyle or freedom from responsibility to do so even if they wanted to.

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      • Bgugi@lemmy.world ⁨7⁩ ⁨months⁩ ago

        “life is too expensive to be sustainable…”

        “HAVE YOU TRIED BEING HOMELESS?”

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      • Asafum@feddit.nl ⁨7⁩ ⁨months⁩ ago

        It doesn’t have to be that extreme, you could just live in circumstances that you don’t prefer that aren’t on the road. I live in a dilapidated garage that is the cheapest thing around. I hate it, I have a playschool size “babys first refrigerator,” no clothes dryer, far from anyone my age, etc… but I can save a few hundred a month that I would have otherwise been throwing away at some corporate landlord.

        The idea was to do this until I made enough to afford a house, but COVID came and said “fuck your future and just about every one else’s too. Also I’ma kill millions of you but somehow make housing prices increase anyway.”

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