You are viewing a single comment's thread from:
RE: Saving $ 10 a day - Can't Retire on that.
Interesting analysis. $10 a day is definitely not enough in the U.S., imo.
The average person should learn how to buy an index like the S&P500 that pays dividends and learn to live off of those dividends. They should also diversify into things like crypto (with tiny amounts of their overall portfolio).
Asking the average person to do this though is like asking a boxer to solve math equations while being in the middle of a championship fight... no available attention
I'm 51 years old, make less than $3000 a year income (havent had a job since 2001) and can live fine in the US. The key is who you know and what skills you have that others want. This has worked for me though I would not recommend it to others.
Wow, so you can survive off $10 a day in the US! That's really good. I think in a rural area if you own a couple of acres of land, it may be possible, especially if you have a well-built house a good wood furnace and some off-grid electricity. The only worry is the lack of insurance or when you need to do big things.
$10 isn't enough unless you have a private pension fund from your company. Usually, in the US this means government, union or fortune 500 company.
Money is so important and everyone definitely needs to discuss it and learn more about it cause it ain't going nowhere. I think crypto is interesting and block chains have a ton of applications for traditional finance and investments.
It is definitely tough to discuss investing and such with average people. It drives me nuts that we have mandatory classes in high school discussing social science, geography, history and civics/politics, but not personal finance.