57% of US workers have less than $25 in investments

[beauanderos]

At the upper end I also constantly see people with huge incomes squandering their money just as illogically - buying ridiculously expensive homes and cars then trading them out for the next newest model while the paint is still drying, wasting money on clothes and spas and expensive vacations.

Nicholas Cage, anyone? Professional athletes? Rap stars?

[barrytrot]

At the upper end I also constantly see people with huge incomes squandering their money just as illogically - buying ridiculously expensive homes and cars then trading them out for the next newest model while the paint is still drying, wasting money on clothes and spas and expensive vacations.

Nicholas Cage, anyone? Professional athletes? Rap stars?

Because those guys are famous they get the bad rap for it. But I bet that it would be shocking to know the millionaire earners that have a net worth less than a couple CTU.

[beauanderos]

this seems like it might have been the source of this thread... a good read in it's entirety

http://www.peakprosperity.com/blog/81190/lets-stop-fooling-ourselves-americans-cant-afford-future

[silvor]

ON ANOTHER SUBJECT:

It is my understanding that if someone is in a 401k, don't they have the choice to go to money market funds or short term bond funds? If you think the market is too high, you can move to cash or short term bonds?

Today, most 401k's by an decent company will allow you to move in and out daily.

In my mother's 403b YEARS ago, you could only change out quarterly. But that was a 403b and 15 ormore years ago.

[barrytrot]

Speaking of people that made a lot of money and now have none, Dionne Warwick now has only $35,000 in TOTAL ASSETS and a debt of over ten million!

That is some very non-smooth handling of money!

[silvor]

Speaking of people that made a lot of money and now have none, Dionne Warwick now has only $35,000 in TOTAL ASSETS and a debt of over ten million!

That is some very non-smooth handling of money!

Her problem is she pays a personal assistant $5k a month and a housekeeper $4k a month. Right there she'd be fine if she'd fire them.

[barrytrot]

Speaking of people that made a lot of money and now have none, Dionne Warwick now has only $35,000 in TOTAL ASSETS and a debt of over ten million!

That is some very non-smooth handling of money!

Her problem is she pays a personal assistant $5k a month and a housekeeper $4k a month. Right there she'd be fine if she'd fire them.

9,000 per month takes 92.6 YEARS to equal 10 million.

She has a LOT more problems than that!

[Mossy]

according to one of the Elizabeth Ann Warren books I read sometime in the past, the most likely candidate to declare bankruptcy are single mothers...

The fake Cherokee? Also proven to have plagiarized part of her cookbook.

I'd be cautious of anything written by her.