Women and future retirement issues

[The Duke]

I believe there will be a future problem that we have never faced before as a society. It involves women and retirement. One common theme I see with women I have dated is they spend most of their paycheck and have little savings. They are spending most of what they make.

-Many will be over 65yrs old before their 30yr home loan is paid off. How can you retire when you still have big bills to pay?
-Most don't own homes and live in apartments with rent that keeps going up every year.
-They have little to no investments that they can cash out for retirement.
-Many have expensive rent to pay plus a car payment to make monthly.

I've dated some girls that made close to $100,000/yr. Even these girls were stupid with their money. Its not like they came from wealthy family's and can rely on inheritance.

So at some point these women will figure out that they don't have the funds to retire at 65. They won't exactly have much SMV. I mean who the hell wants the average looking woman over 50? Very few can hold onto much beauty past 50 and I'm being lenient here.

Will these women try and latch onto men for financial reasons? Women have always done this to an extent, but they had beauty in their youth to entice men. What will entice a man to take on some 55-60yo woman that brings nothing of value to the table?

Will a new welfare program for old, broke, and wrinkled women who thought they could have it all but really couldn't be started?

 

[ubercat]

It's an interesting Point. Another problem is that the crazy divorce laws are encouraging men to assess women on a much more economic basis basically mirroring how they have always treated us. I can't afford to marry a poor woman it amps the already high risks.

I think it's very wise as a man to have some money stashed which is hard to trace back to you. Woman live a long time so they will have the numbers when it comes to the votes for the politicians. And women are always happy to reach into other people's pockets to support their life choices.

 

[Who Dares Win]

Im not that concerned about those women as much Im not concerned at all about those illegal immigrants breaching into europe, what concerns me the most is that politicians believe their vote are worth more than my right to keep my own money.

Women make more than 50% of the voting power, in the old range it even gets more and given their non existent sense of justice, the same moment they need extra money they will join forces to get it no matter from who.

I trust cripto currencies to hide money from wifes and governements...no explanation necessary you get a place and wherever you land, you have full uncontrolled access to your assets.

 

[user43770]

You need only look at Argentina, Poland and Cypress, who confiscated private monies in order to fund government debt.

 

[Desdinova]

One common theme I see with women I have dated is they spend most of their paycheck and have little savings. They are spending most of what they make.

That's my ex-wife to a tee.

Her mother was very smart with her money. I last spoke with her shortly after me and the ex split up. She told me, "I have to figure out what I'm going to do with (ex-wife)'s inheritance so she doesn't just blow it all". I told her that she should set it up so my ex gets it for retirement. I don't think her mother is following my advice.

My ex-wife had some retirement savings, but when it got to a nice amount, she pulled it all out and spent it. She also got some of my retirement savings through the divorce. She spent it on new tattoos.

She's going to be royally fvcked once her mother dies and she blows her inheritance money on crap. She's constantly relying on her mother to help bail her out of the financial messes she creates for herself.

 

[playa99]

In the UK, the average age of a first time home buyer is 38. That is frightening considering how long a mortgage takes to pay off.

People live in their youth a lot longer now. They get into their 30's & think 'Sh!t I'd better do something with my life.' As a homeowner in my early-mid 20's, I'm a rarity in my generation, which isn't good.

I am convinced that most of my generation will work into their 70's to pay off debt & retire with failing health.

 

[sazc]

I was surprised and horrified to learn that my ex was exactly this.

He had zero retirement savings. Instead he believed that the equity in his house ($200k) and social security would be enough. We chatted about this. I laid down the coast of retirement numbers on paper for him ( only to give him concrete information) and he got angry with me for trying to control him.

I've been harrassed on OLD because, in my profile, I state that I am looking for a fiscally responsible man, someone who has planned for the future. In this day and age, one pain earning a normal salary simply cannot support two people in retirement well. Some OLD men have seen this in my profile and equate it to me being a gold digger, and looking for a free ride . I get that this is what it looks like, so I just realize we are not a good match and move on from them trying to argue they point. I'm actually well set for retirement one, but I'm not in a position to carry someone.

It's shocking tho, like it is shocking for you, to meet a man who earns a good living, and who is living it up by living paycheck to paycheck.

But I have already accepted that my dating choices will be limited by my "standard" of needing a fiscally responsible man. I'm willing to wait.

It's always about standards. If you are looking for something long term, and this is a standard for you, keep spinning them as plates of they don't meet this standard. And don't forget, it's difficult to change anyone. Dunt ever go into a female,/relationship thinking you are going to change anyone.

 

[sazc]

@Desdinova ur ex spent the retirement $ she got from you on tats.

That makes me laugh. I don't have tats so I have no comparison base but I imagine she got a healthy chunk of $ and this makes me think she must be tatted head to toe. Lol

 

[Desdinova]

@Desdinova ur ex spent the retirement $ she got from you on tats.

That makes me laugh. I don't have tats so I have no comparison base but I imagine she got a healthy chunk of $ and this makes me think she must be tatted head to toe. Lol

She didn't get a huge chunk of money out of me, but something significant enough to make her happy. She got this huge colored tattoo on her leg which looks ridiculous. She has others on her arms and god knows where else.

 

[sazc]

She didn't get a huge chunk of money out of me, but something significant enough to make her happy. She got this huge colored tattoo on her leg which looks ridiculous. She has others on her arms and god knows where else.

And little did she know, factoring in compounded interest, she could have grown a nest egg, instead of eventually having a faded and blurry tattoo

 

[taiyuu_otoko]

Very few people, men or women, have any clue how little they are prepared for retirement. All pensions are broke, in max ten years, everybody will be told:

"Sorry, all that stuff we said about retirement (social security, pension, etc) was a lie. You're on your own."

Bottom Line

When YOU retire (whoever YOU are reading this), there is only the money YOU have, and nothing else.

To expect anything (even healthcare) is foolish.

Even expecting equity is foolish, as governments will likely jack up property tax values to destroy any existing property values.

Even 401(k)'s will be stolen.

Unless your cash is liquid and available, the broke governments of the world will find a way to steal it.

Any female who doesn't "get" this isn't worth your time, at least not in any "committed" way.

Financial catastrophe is unavoidable.

 

[exhausted]

She didn't get a huge chunk of money out of me, but something significant enough to make her happy. She got this huge colored tattoo on her leg which looks ridiculous. She has others on her arms and god knows where else.

Women are dumb as fuch except a few.

My ex got a tattoo then 10 days later was complaining of not having money for gas.

What a fool..

And is a mom.
And lived w her parents for free.

Makes 27$ an hour.

Was suppose to be paying off debt the last year so we could buy land tog..
and has no money..

Yet i got bitched at for having my own home and savings..

Unreal.

Whats worse these beta men accept them.

I bailed

 

[BeExcellent]

Failure to plan = Planning to fail.

I watched my father earn millions and squander millions. I also watched my mom mismanage money from a very young age.

In my youth I too mismanaged money. And after a year of bailing me out of expensive jams my father refused to further fund my irresponsibility.

Best thing he ever did for me. I was left to twist in the wind with my financial fiascos. My credit was ruined, I lost all my credit card accounts, I had to get a job in addition to full time university, and I struggled. I never again allowed myself to be financially irresponsible. And the skills that built have made me who I am now.

Coddling people simply enables them. I do not coddle my children for example. If they want a special (expensive) school trip or something, I demand stellar grades or they don't go. If they want something expensive I ask them "Are you paying for it?" If they mess up they sometimes have to pay me money, much like they would be penalized for bad behavior in real life.

Lie? $20 dollars. Back talk your mother? $5 dollars. Cheating in school or disciplinary action? All your cash on hand PLUS other consequences. Gobble up something you are not supposed to eat all in one sitting? They buy the replacement item with their funds.

I enforce it too. Bad behavior is costly at my house. I don't get much bad behavior. Furthermore, my kids look for stuff to do to earn money. They understand how many hours it took doing yard work or mowing or cleaning etc. to earn what they got paid. They are learning to respect the value of a dollar and this in turn teaches them self respect indirectly.

When my father cut me off from frivolous spending all those years ago he taught me a very valuable lesson. I'm instilling those values in my kids.

If you don't value a dollar (and many people don't) it suggests that you don't value yourself on some level. This can be said of financial habits, personal hygiene habits, cleanliness habits...bad habits say bad things about a person. I'd prefer NOT to associate with people who have bad personal habits. There exist other people with good habits.

Choose them and be like them.

 

[Von]

I believe its a problem also touching men in general... women and men are in the same boat.

Working in finance and seeing how the world is changing in our financial industry, just look how we are paid... its changing in a crazy rate. MER at 0,25 to 1%, honorary fees per year etc..

My feeling is we going back to the Old System... 1) when interest rates were high 2) the wealth was limited in the hands of few.

With new pay system... I need to get a client with 100 000$ assets invest/manage to match the income of having 50 000$ investment commission.... You have 100 000$ that's basically 1 000$ a year for the Financial Advisor (or broker) if he ain't sharing it with the company/associates etc....

I see it every day... and every day we are pushed to hunt/fish for clients with 100 000 to 500 000 at start to put in with us... old money (already sitting somewhere or in a competitor account) or new money (new investments)

In United-Kingdom and Australia, they imposed the honorary fee based wealth management.... 60% of the financial advisor where forced out of business, account under 100 000$ were abandonned or robotize etc..... Banks (UBS for example... the biggest bank in UK) requires a minimun of 500 000$ POUNDS if you wanna have access to a financial planner.

In the USA, with 0.25 MER... if an advisor wanna make 100 000$ a year.... he basically needs 100 000 000 in assets under management!

Myself, I am now putting ''conditions'' to do business with me... I accept everyone who meets some basic investment criteria: How much annually they put, have multiple products and services with me (investment/mortgage/insurance/income tax report), certain salary conditions (have to be over 75 000$ in annual salary) etc. etc.. I am young... wanna have people who are serious and in the long run but who can also increase in wealth fast with a good coach (me)... I have a clear career path and I want clients who follows me in it... like I will follow them in their life.

In Canada, its said 3% of the population owns 77% of the wealth

Being rich is easier than ever.... but being in debt is also easier

Being rich is fairly simple but requires alot of work

Few people are ready for that commitment and even fewer people can imagine their life in 3 months... 1 year... imagine now 15years 20 years...

You just have to smart, dedicated and you'll manage... people like me are there to help

But yes... with the interest rate going up... less and less ''normal'' people will have potential in assets gathering (investing) and also pension funds are changing, millenials don't stay more than 2 year at a place (so they dont have a pension fund etc. etc..)

And yes... let's say you wanna live on 40 000$ a year and never touch your capital ... just live on the returns (gain).... well you need 1 000 000$ at 4% annually.

If you have 500 000$ you need 8% returns....

Now, imagine people who live with 100 000$, 200 000, 500 000 annually in salaries.... how much they need to put money in investments.

I remember an article about how much money you need to retire... the guy was making 800 000$ a year... at 65 years old, he only had 1.2 millions in investments.... his advisor said: He can't afford to retire even if he makes 800 000$ a year.

Someone said to me once: Put 50% of your paycheque in investment... and you'll never look twice. (It became a personal goal for me... to reach 50% paycheque in investments... right now at 15%... I'll increase my revenu and work my budget to reach it)

Every day, I am glad I see clients who will live RICHER at RETIREMENT than when they were working because they had a good financial coach... and its people making annually in salary 40 000, 60 000, 100 000, 200 000... and most of them will be to keep that annual income during retirement and even have more (5% to 10% more!) until they die (without working).

If you guys have friend in Quebec province of Canada who wanna be rich, I'll be their man