06-28-2007, 04:46 PM | #1 |
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Bankruptcies dont worry me... what worries me is
the fact that so many young mormon families are not saving for retirement. With social security going to be less (if at all) and hardly any companies holding on to pensions there is a generation of people who will be working till they die. Lets say you take a family of 6. The wife stays at home with the kids while the father works and makes 60k a year take home 48k after taxes and tax refund. That works out to be 4k a month. Where does that 4k go
400 tithing 50 Fast offering and other offerings 1,700 for Housing (250k house) 75 Cable, Phone Internet 75 Cell phones 110 Electricity and Gas 400 Car Payment and Insurance 100 Student Loans 100 Credit Card 200 Health Insurance That leaves $790 for clothes, gas, braces, car repairs, food etc... Where is the young mormon family saving for retirement?
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06-28-2007, 04:50 PM | #2 | |
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Quote:
2005 was the first negative savings rate (average US family spending more than they make) since the 1930s. http://www.cbsnews.com/stories/2006/...n1293943.shtml |
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06-28-2007, 04:54 PM | #3 | |
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06-28-2007, 04:55 PM | #4 |
I must not tell lies
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06-28-2007, 04:55 PM | #5 |
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Dang, your carbon footprint is huge. For shaaaaaaaame.
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06-28-2007, 04:56 PM | #6 | |
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06-28-2007, 05:01 PM | #7 |
AKA SeattleNewt
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06-28-2007, 05:02 PM | #8 |
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not with the size of Mormon families... 250k spilt up 8 ways isn't going to fund a retirement
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06-28-2007, 05:02 PM | #9 |
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06-28-2007, 05:13 PM | #10 |
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Barbara, didn't I read that the stuidy to which you refer did not include 401k and IRA savings?
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