Laju Lee🇺🇸

@Chinkenshu 4

he world you see depends on what you choose to ignore

Most conflicts come from misunderstanding, not malice.

@Therese99999 Yeah misinformation definitely makes things worseFurthermore, there are personal reasons: due to a lack of sufficient skills and capital, he will be unable to establish a stable livelihood for himself in the long run.what you think

@LajuLeep I worked on the retirement plans for 40 years. Too many workers have no idea that they even need to save. They are then surprised that social security is not enough to live on. The job of educating people about this is endless, and there is a lot of misinformation out there.

Have a buddy who is 42 years old Spends 100% of his income Literally has $0 saved or invested When I asked him about his plan This is what he told me…. His parents own a $2 million house When they die he’s selling the house And that’s his retirement fund 😳

@joshritchie I agree with your point of view. Throughout our lives, we encounter countless events both big and small many of which are completely beyond our control. What do you think?

@LajuLeep I don't think many people had this as a plan, but their circumstances / decisions landed them here

@Vanalich77 Young people these days aren't willing to work hard anymore they just eat whatever happens to be available. How old is your child?

@LajuLeep Yeah exactly what I said

@Ramfam2024 lolI think we need to be more open minded. We can't take anything with us.

@LajuLeep They'll find out. Haha.

@minithoughtsz Congratulations on successfully choosing the right one!

When I was young my dad said. "Everything I own will be yours someday." My uncle said this as well. My dad died with over $1,000,000 in medical and housing debt. I let the houses foreclose and got nothing and owed nothing. My uncle never had a will and his stuff went to my Grandfather as next of kin. Never plan for something you might get someday.

@Ramfam2024 Yes, but many young people these days don't work hard anymore. They just take whatever they can get.

@LajuLeep I think it's a foolish and self-limiting way to live. If you're expecting a handout, it kills motivation to get out and earn.

@dickens1298 $10k a month do you think young people today can prepare for this kind of expense?

@BarbellFi My father passed away. My mother is in a beautiful senior care facility. Slightly over $10k a month. Thank goodness her passive revenue slightly exceeds that. But yeah - senior care is expensive.

@AgWxMan1 What do you think is the safest next step

@BarbellFi why not?

@Therese99999 rue, times have changed relying on parents isn’t realistic. Do you think people today are aware enough to save in advance?

@BarbellFi I'm glad I didn't think that way. My parents' money went to a nursing home, including the money from the sale of their home.

@Graycatent what did that $20k even cover back then? Do you think kids today still rely on luck like that?

@BarbellFi When I was in my 20s and 30s, I never once thought my parents were my “retirement fund”. They died when is was 23 and 33, respectively. I think I received $20K. Times have changed where people thinks it’s the expectation, I guess. Thankfully, I built my own nest egg.

@ByronByrontt Selling the house to invest definitely creates cash flow do you think this approach is more stable than relying on a reverse mortgage?

@BarbellFi They'll have to sell the house to pay for the care home. That gets expensive in a hurry, especially with full nursing care. In my case, my parents sold the house, lived in independent living for a bit, and now they're living with me. The money's currently being invested 😄

@Kevin_Levi72 What happens if my parents do not have any property or pension?

@BarbellFi Why slave away for chump pay when you can enjoy your life waiting for someone to die? I am also in this boat. Why slave if you can wait? Why? I have so much coming, should I feel like I should work for it? Why? Ethics? Is it honor, or personal integrity? What?

@Karenshea Given his current finances, how long could he really rely on his parents’ property do you think he’s considered the cash flow issues?

@BarbellFi Wow, how risky and insufficient. So if his parents take a reverse mortgage, let it run down, and have leans against the house he is screwed. Has he seen closing costs. He better be willing to be a live in caretaker but without cash that may not work.

@TruthHunter1234 Haha, do you think he ll realize how serious this is

@BarbellFi He’ll he broke in 2 years tops - unless his parents sell the house and spend it. Then he’LL be broke in 0 years.

@GolfTilDeath so his financial lifespan is shorter than his actual one?

@BarbellFi ironically i know him also. no worries, given his problems, he'll be dead by 60.

@MrAmerica2025 that loss could pay for his lunches for years do you think he learned his lesson?

@BarbellFi Yeah after he loses 1.9 million in taxes 🤣 🤣 🤣

@PStinebiz how are you planning to test it out?

@BarbellFi Could work

@Zafaron11 If we actually had to live in a bunker, do you think the long-term costs and supplies would be enough?

@BarbellFi It's all good, we'll probably all be living in fallout shelters by then anyway.