All Things Career & Education

You are a very caring person Heather.

I know girls who don't even speak, or visit their parents, over nothing.

As dysfunctional as my mom is with me, we at least verbalize and text when possible.

I would never, ever walk out, never.

You may be in for some elder caring in your family Heather.

I think you are up for it.

Some people end up homeless... some people can't retire.. some just live with their children (if they have any). There is subsidized senior housing at least... but you still need some form of income.

I don't know if there are free places for seniors or not.. I'd have to look into it.

There's a reason why they say prison is better than retirement for people without a pension and such...

The GOP has been unraveling SS here for years my dad says.

If you have to rely on that alone for retirement, you are not in good shape here.

Recently they denied any SS increases due to inflation.

So the average retiree lost some money there.

The US is a confusing nation. Financial independence remains unavailable to more than people think.

For those that work and have a company that provides a 401K plan, I would strongly advise them to take it because it will provide a buffer for them when they retire.

Especially if the employer is a contributor. 

Some companies will match up to 6%.

That is huge, especially in an economy where interest rates are sooo low.

So you but in $1,000; it becomes $2,000 in less than 12 months usually; a 100% increase.

It would actually make sense, if you could; to borrow money at 5.6%, stash it into your
wonderful 401, and make that 100% (minus 5.6%) profit for doing nothing other than being wiser than others.

A Roth IRA is actually tax free. 

I think what hurts US retirees most is the artificially low interest rates maintained here by the Federal Reserve policy. Most retirees have some savings but get little to no interest needed to supplement their incomes. Instead they must risk their savings in the stock market.

Should we also avoid the under-performing funds too?

He also said:

Failure = Do the same, expect different results.

The problem in funds is using history to guess future.
I mean you have little else?

Knowing the fund manager is very useful.

Understanding your personal risk (what can I afford to lose) is also key.

Age is another major factor. Retirees need to play it closer than a 35 YO.

My bro is a stock broker. My mom uses him for her personal finances, so he must know something.

You get taxed on losses? 

How does that work?

I have a bit of money in stocks and was told to diversify. So, I have some "safe" stocks that will garner a little and some that aren't as safe, but will gain more. It's all risk and reward.

It seem to be a different system in America.

Over here if you invest £100,000 you will only pay interest on the figure above £100,000. So if your stock is worth £100,001 you will pay tax on the £1 only.

There can never be a taxation system that allows for inflation, it would be a disaster, because with inflation everything rises.

I like your system.

I mis quoted that Mup.

My bro pointed you are only taxed on profits.

The point he makes is during inflation, if your monetary gain is say 2%, but due to inflation of 3%,
you are fully taxed resulting on an even larger loss, since the tax is not indexed with inflation.
However, there are now some instruments that are actually tax deferred,
and a few are actually tax free, (Roth IRA, etc.).

His point is he can do far more for a wealthy client, and in some cases avoid all taxes,
which is impossible for the average person in the US,

My bro with his teeny tiny MBA of which so many people have is nonetheless Wall Street savvy,
which has worked very well for him.
He is a great example of how experience trumps education.

His favorite example is when Apple computer ousted Steve Jobs who I'm not even sure
if he finished college, and replaced him with some Italian PhD.
In two years he led Apple within 3 months of insolvency, and brought Jobs back who rescued the company.

Carly Fiorina nearly destroyed HP; another example of education only. 
Her Ready Shoot Aim policies resulted in one of the worst examples of lacking
both foresight and hindsight is already being taught in every business class in the US.

For her to even think she is a viable presidential candidate indicates her naivete
in anything unrelated to a home kitchen.