Before interest-only and option ARMs, before thirty-year mortgages, before subprime credit card companies like Providian and Aspire, even before Social Security, Americans had different ideas about saving, thrift, debt and credit.
Myvesta.org presents for our viewing pleasure
Also, from Get Rich Slowly see a link to CNN Money's Prioritizer tool. My five money priorities:
1. Save 10% of income for retirement, as Social Security's supposed to be wiped out at 2042.
2. Save for new windows for house.
3. Save $3600 for summer vacation.
4. Save for new roof for house.
5. Save 30% for replacement car downpayment.
I recorded two spreadsheets, one for what I could expect if social security were still around for me (HAHAHAHAHAHA) and one if it weren't. I'm slightly behind in the second scenario, expecting to live on 52% of our current income (no daycare, no mortgage, that combination is 48% of our expenses).
March 10th, 2007 at 04:32 am 1173501124
http://www.washingtonpost.com/wp-dyn/content/article/2007/03...