[SummerChild]

Answers embedded below

Originally posted by AKA_Monet
I guess I want to know from most folks here, do you all seriously invest, given the risks associated?

soror, i invest ...now. i always had the money to do so but spent it on frivolous material things that are all gone now or at least are not appreciating in value so now i know better. stocks are really the riskiest. if one invests in mutual funds, they really are not as risky (unless you fill your mutual fund with stocks I guess)
i also have an ing savings account that pays 3.00 % (yes, 3.00 % - way better than any bank). go to ingdirect.com. they also have great cd rates (you can get a decent rate with only a 1000 cd) and home loans, etc. less over head than the bank on the corner so they can give the consumer more interest, better deals, etc.

Or do you all hope your benefits packages at work will save you when you reach retirement age?

well, i hope that no one is counting "social security" as part of the benefits package. i assume that you are referring to the 401k. i invest in that as well and am maxing it out (14,000 per year) although it is cutting real deep into my discretionary spending.
also, you can put up to 3000 in an ira each year and when you withdraw it (if you make less than 100,000 per year) you get to keep all the interest but at the old tax rate (or soemthing like that). if you make more than 100,000, you get a similar deal but the tax structure is different (sorry, i don't have the terms in front of me for either over or under 100,000 case but any bank can tell you).
little shelters like this are how the rich stay rich - that and real estate and investment in oil stocks. do you know that my boss was just telling me yesterday that he bought exxon stock two years ago and exxon has made *more in the history of the world than any other company ever*????? he informed me that all of this hype about the gas prices going up b/c it's harder for companies to get it is bogus. they do the same process now as in the past, yet an OIL company - exxon - has made more than any other company in history? although it might be kind of hard to invest in exxon *now* seeing as how the price of the stock is now trading at about $65.00 per share


I just don't think a lot of "US" have capital... We just don't have the legal loot to hook it up... And that some of "US" compromise ourselves by becoming capitalists...

soror, i think that *anyone* can save. my grandmother who is on disability and a fixed income has a nice savings even though she has always worked as a laborer.
****it's not what you make, it's what you keep.****
as evidence of how much discretionary $$ we have as a people, we are the biggest CONSUMER bloc in the country i.e. we buy more *stuff* than any other group. so clearly, we've got it. we are just not saving it. and i'm not just referring to people who are legally-challenged. how many of us - middle-income folk- are quick to run out and buy gucci, bmws and everything other name under the sun when we could save some of that money b/c guess what, gucci does not know me, i don't know him, and i ain't (excuse the grammar) making him rich. i ain't thinking about mr. gucci. the same applies to mr. nordstroms (with those high prices), mr. coach (although i'm guilty of buying from the outlet on occasion and need to check myself), ms. kate spade, whatever that woman's name is who makes all the pink and green designs, etc. we are all making them rich and they are laughing straight to the bank. fact is, we would all be ashamed to know how much $$ it truly takes to make some of the clothes ... we are generally only paying a premium over the non-designer clothes - *for the name* (so go non-designer from reputable stores and save money - and put it into an ira or a mutual fund or something).

I think alot of us are consumers... We bling ourselves out... But those are depreciating comodities (sp?)...

exactly!

How many of you all know, you gotta pay to pay?