This is an insult!

[aolwien]

To those of us who can't afford financial planners, who don't have 401Ks and those of us who can't pay the full balance of their credit cards every month. The Washington Post (once again!) carries water for those in the population who are much, much, more well off than the majority of the nation. So glad to know that the parasites that live off of government contracts in and around the beltway are doing so f-ing great, ie. your readership. GFYWARC Washington Post!




http://www.washingtonpost.com/blogs/wonkblog/wp/2013/09/16/this-4x6-index-card-has-all-the-financial-advice-youll-ever-need/

[Scuba]

1. The last one I like. The rest are only for those doing reasonably well.

[aikoaiko]

2. It is good advice and the last line is important.

[aolwien]

4. I'm sure he put the last one in there

so as to not come off as a rich, 1% spoilt asshole.

[prefunk]

7. One would need to be what most consider "rich" to follow ANY of that advice.

[prefunk]

6. It's good advice for the small percentage of people who can afford to take it.

Most if us simply don't earn enough to even save 20% of income.

A majority of people simply do not earn enough to follow this advice.

[aikoaiko]

9. Of course many people can't do it all.

But there is a middle class that would benefit from some of the items.

[prefunk]

13. Financial advice we should all be using: "Stop buying crap that is not needed."

The main problem is our need to consume. Things are made to be thrown away and replaced. Things are made to break in short order so that a replacement gets purchased. Ours is a disposable economy fueled by calls for "more growth, more profits".

Until we change the basic way we approach the economy and start focusing on sustainability instead of growth, fewer and fewer people will be able to afford to follow even the most benign items on that list.

[aikoaiko]

15. Agreed.

I look back on my life while in college and grad school and I could have lived on fewer loans and credit cards. Some of it was necessary or at least a reasonable investment.

Had I had less debt from stupid consumerism stuff, I could have lived on less when I got my first salaried position. saved more and contributed to a retirement fund more.

[Brainstormy]

3. MacDonald's should print it up and

pass out copies to employees. Sheesh.

[prefunk]

5. I would think that anyone who has their "Financial Adviser commit to a ..."

"...fiduciary standard" is not in danger of becoming destitute anytime soon.

In fact, most of the items on that list are unattainable by 40-50% of the population.

Save 20% of your money? Sounds great! But one needs to have 20% left over to save after paying basic necessities first, which most simply do not have.

[badtoworse]

10. You need to put something into savings first, not save whatever is left over

20% might be tough, but at least 10% should go into some kind of automatic deduction plan so that you don't have it to spend. If you make your savings deposits last, you'll never save anything.

[prefunk]

14. Explain that to the vast majority that don't even have enough to pay for what they need now

Yes, it's good advice, if one can afford it. Most cannot.

[badtoworse]

8. This is great advice that everyone should follow to the extent they can

If you can't do all of those things, that is no reason why advice shouldn't be given to those who can. Sorry, your post smacks of envy.

[aolwien]

16. and your post

sounds an awful lot like a rightwing meme.

[badtoworse]

18. What's so progressive about not prudently managing your money...

...or not saving for retirement?

[aolwien]

19. No

It is a right-wing meme to say that non wealthy people envy those with wealth.

[badtoworse]

20. So what's your explanation for being insulted by good financial advice?

Envy is about all I could come up with. BTW, my comment was directed at the OP only.

[PowerToThePeople]

11. That is all Capitalist thinking.

I think we should move away from things which only empower the 1%. You are just playing their form of 'Monopoly" still. There is no way to defeat capitalism from within capitalism.

[tblue37]

12. They forgot to add:

"Borrow $20,000 from your parents to start a business," which is the advice Romney offered once during his campaign.

[aolwien]

17. A mother working three jobs?

Isn't that uniquely American -W. Asshat Bush

[Blue_Tires]

21. I can at least agree with #4, #5, and #9

[ananda]

22. This is probably good advice for people making enough money to do that.

But what about the other 80%?