17 Apr 2023, 1:40 am
17 Apr 2023, 5:14 am
17 Apr 2023, 5:15 am
nick007
Veteran
Joined: 4 May 2010
Age: 41
Gender: Male
Posts: 27,129
Location: was Louisiana but now Vermont in the police state called USA
17 Apr 2023, 7:01 am
17 Apr 2023, 9:57 pm
nick007 wrote:
colliegrace wrote:
I have addictive tendencies with spending and am beginning to think I need someone to manage my money for me because I can't trust myself not to blow it all on dumb stuff.
My girlfriend is like that. She's dealing with various mental things & spending is kinda like her way of coping. She tends to be more finachialy responsible when her mental & physical health is better. I'm not sure if that's the case with you or not but if it is pethaps working on your mental health in various ways would help but of corse that is alot easier said than done. Cass is trying various things but tings don't help enough.I did the same when some malicious bastards destroyed a valued relationship of mine.
I embraced "spend therapy"...
And it actually helped along with my manic joking spree.
"Laughter is the best medicine", after all.
12 May 2023, 6:44 pm
Texasmoneyman300 wrote:
Kitty4670 wrote:
Does NT keep their money in two or more banks cuz people shouldn’t leave all their money in one bank? If if true, I wish people on SSI could do this too. I guess it smart for NTs to do this, cuz I read that people should only keep like around 200K, I think. There another thing I don’t understand, I know on SSI, you should only have up to 2,000, SSI want people to use only their money & want people poor, that just very stupid, some people on SSI work. I wish SSI allows people to deposit Life Insurance from a parent or trust fund, with trust funds, it may not last forever, with Life Insurance, what if it under $200. I think SSI should have higher pay, there are ALOT of people that have medical issues, what if they need to buy stuff that their insurance won’t cover. I never did understand all the social security paperwork, they give out like 4-7 pages or more, they use to put your social security number on every page that was soooo stupid! People can steal your mail. It happens here in my city, people always steal packages more & the owner of the house has a video camera, but the person that stole packages don’t care. Having SSI can be great & can be bad.
The FDIC limit for a insured bank account at a single bank is 250 grand so some wealthy people with lots of cash will have 250,000 each in different bank accounts.But generally its not a good idea to have a lot of money in savings for no reason due to inflation.Also middle class and upper-middle class and working class NTs who are not on social security disablity will have lots of different accounts sometimes like a household making 100,000 a year may have 401ks, IRAs, Roth IRAs and HSAs and different bank accounts and brokerage accounts.Also people have bank accounts for their businesses separate from their personal accounts.
I was on social security disablity but not anymore so now I have no income but I do have a big trust fund that I will live off of in the future.A trust fund would have to have a lot of money in it to sustain a disabled person after their mom and dad dies so it extremely uncommon to have a huge trust fund like that 2,000 dollars is nowhere close to the amount to sustain you for a lifetime that a trust fund could give you.But disabled people can have trust funds set up by their parents.
Also some parents set up able accounts for their children which have a 100,000 dollar limit but again thats nowhere close to sustaining someone for the rest of their life in this country.Its not a good idea to have 250,000 in the bank making 1 percent with inflation.NT peple need to take that money and invest in the stock market and real estate to keep up with the pace of inflation.Because that 250,000 would be worth a lot less after working for decades if it was just in cash in the bank .Its a good idea for people to just have enough cash to cover emergencies for 3 months to 1 year and invest the difference.Many rich people lost money because they had too much money in their accounts at a bank recently and they had more than the 250,000 limit.Sorry for the novel lol.
I don’t understand why it not good saving money, I didn’t understand what you mean ‘Its not a good idea to have 250,000 in the bank making 1 percent with inflation.’
I have a very very hard time understanding percent, when people talk about 1 out of 10 percent of people, I don’t understand that, is that mean 1 person out of 10?
I know there a limit on money in banks, but what about people supposed to save for retirement, they cannot save money anymore. Can’t people have money in more than one bank?
How can parents make a trust fund for their disabled children if they only allowed $250,000? My mom made a trust fund for me, my sister & my nephew, she made it 10 years ago, she didn’t put it in my name, my sister is in charge of it
I have an ABLE account too. It’s bad enough worrying soooo much about money for my future.
12 May 2023, 8:13 pm
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