many Americans are the worst with money...this is a crisis in the US

Social security was never meant as a primary income source.

When the Social Security program was kicked off in 1935, the average life span was 61 years. Very few people were ever meant to collect.

The average lifespan in the U.S. is now 78 -- and can be extended further through the use of amazingly expensive medical technology.

Now, certain people expect this "social security" program to be a "retirement program." It's a pipe dream.

To return the social security program to its original charter, we would have to raise the "retirement" age to 82.

 

Think higher.

http://www.capmag.com/article.asp?id=754

http://www.capmag.com/article.asp?ID=4158

Gotta love Walter Williams.

 

I have my own Walter Williams page.

 

no matter in which country one lives, thumb rule is:- save more and spend less

but todays life and extensive materialism and commercialisation drives many people to over spend and they repent after that

 

Property taxes are too high in the US. In the New York metro taxes are around $10,000 a year. If you don't pay, the government takes your house.

 

Check your math on two levels:

1. Young people tend to be killed in wars -- before they pay a significant amount into social security.

2. The U.S. hasn't been involved in a war where we experienced casualty numbers large enough to change our demographics since 1865. In WWII, we suffered 418,500 casualties -- a mere 0.32% of our population.

 

The US was actually suffering more training deaths in the late 70s and early 80s due to poor equipment.

 

$10k! better to rent than own a property

 

If you think that by renting you aren't paying property tax you're a fool, that cost is going to be passed to you.

 

brethart, don't think so I think it's min rent in New Yourk, hey it's just $800/month - probably very low number to rent anything decent in NYC. In Moscow it's the same, I visit it often.

 

Manhattan is going to be super expensive. Outlying areas like Bronx, Brooklyn, Queens and across the river in Jersey City all acessible to Manhattan by subway will run $800/$900 for a studio or small one bedroom with no heat included.

 

in india you pay tax only if you are the owner of the property. if you are staying in a rented house then its the landlord's burden not the tenants

 

LOL
The landlord sums all costs (mortgage, repairs, taxes etc) for his property adds some profit and than calls it "rent". Of course you pay the property tax if you rent something. You don't see that you pay it, but you do!

 

I have rented an Office space in India... Its about 600 Sq. Ft. in one of the expensive areas of the city. And the Annual Property Tax is like 200$ a year. My Annual Rent is about 5000$.

 

$1500 a month in New York metro but in the expensive areas of Manhattan more $$$$

 

i meant residential properties not commercial

 

Wow. some cheap rates here.

mythbuster is right as well, they just call it rent but YOU pay everything!

 

but a lot of those areas are shady...a decent studio in NY is 1.5-2K

 

lol, fatty needs to sell some of the knick knacks her house is full of on ebay

I'll bet she has a new car and ton of expensive stuff laying around her house