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Inflation Beyond the Stars Thread for April 12
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2022 Apr 12, 12:49am 148,200 views 1,541 comments
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869
richwicks
2024 Mar 27, 12:02pm
richwicks
2024 Mar 27, 12:02pm
zzyzzx says
THAT one is silly. It's simply water with CO2 dissolved into it with some flavoring. The product itself is basically just the cost of water and the bottle plus shipping costs.
All these pictures are just garbage food anyhow, except for the gas. We'd all be better off if junk food cost 100x what it does now.
Do you know what the stuffing is in Oreos? It's just Crisco and Sugar. You can make it yourself, just take out a bit of Crisco and mix in sugar until it has about the same consistency as an Oreo filling and taste it. Crisco is made from seed oils. You're not meant to eat that and it's not been in our diet until just recently.
THAT one is silly. It's simply water with CO2 dissolved into it with some flavoring. The product itself is basically just the cost of water and the bottle plus shipping costs.
All these pictures are just garbage food anyhow, except for the gas. We'd all be better off if junk food cost 100x what it does now.
Do you know what the stuffing is in Oreos? It's just Crisco and Sugar. You can make it yourself, just take out a bit of Crisco and mix in sugar until it has about the same consistency as an Oreo filling and taste it. Crisco is made from seed oils. You're not meant to eat that and it's not been in our diet until just recently.
873
HeadSet
2024 Mar 27, 5:50pm
HeadSet
2024 Mar 27, 5:50pm
richwicks says
Makes me miss the "partially hydrogenated beef lard" that was in the old time Twinkies. (Yes, I know that lard is from pigs, but that is what was on the Twinkies label).
Do you know what the stuffing is in Oreos? It's just Crisco and Sugar.
Makes me miss the "partially hydrogenated beef lard" that was in the old time Twinkies. (Yes, I know that lard is from pigs, but that is what was on the Twinkies label).
896
zzyzzx
2024 Apr 3, 10:36am
zzyzzx
2024 Apr 3, 10:36am
https://www.bloomberg.com/news/articles/2024-04-02/saving-for-retirement-americans-say-they-need-1-5-million
Americans Now Say They Need $1.5 Million to Retire
Retirement is becoming an even more distant goal as higher costs cut into American budgets.
A typical person now believes they need $1.5 million to retire comfortably, which is nearly 17 times more than the $88,400 savers have set aside on average, a Northwestern Mutual study shows.
The gap, up 16% from last year, highlights the challenges coming into focus as the over-65 population in the US increases and Americans face the prospect of financing longer life spans and potential cuts to Social Security benefits.
“People’s ‘magic number’ is now 50% higher than it was during the pandemic,” said Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual. “Soaring costs are putting more pressure on consumers to plan and be disciplined savers, and everyone knows they will need more money as they live longer.”
Gen Z and millennials set the bar for a comfortable retirement the highest, at more than $1.6 million. Gen X was close behind. And the generation closest to retirement, the baby boomers, set the bar lowest, at $990,000. “Boomers have a better feel for their numbers and they don’t believe they will live as long as Gen Z, which expects to retire at 60 and live to 100,” said Javeri Gokhale.
Breaking out the size of current retirement accounts by generation reveals the daunting obstacles for savers of all ages. The average amounts saved were $22,800 for Gen Z, $62,600 for millennials, $108,600 for Gen X and $120,300 for boomers.
Tax Planning One way to help bridge that gap is through advanced tax planning to spread assets among accounts that are taxed differently.
“Many people put money in 401(k)s but don’t realize that in retirement that income will likely be taxed at about 20% or 30%,” said Javeri Gokhale. Withdrawals from traditional 401(k)s in retirement count as ordinary income so that can push retirees into a higher tax bracket.
Of the 30% of Americans surveyed who did have a plan to minimize taxes on retirement income, about a third said they would make strategic withdrawals from traditional tax-deferred and after-tax Roth retirement accounts in order to stay in a lower tax bracket.
Americans Now Say They Need $1.5 Million to Retire
Retirement is becoming an even more distant goal as higher costs cut into American budgets.
A typical person now believes they need $1.5 million to retire comfortably, which is nearly 17 times more than the $88,400 savers have set aside on average, a Northwestern Mutual study shows.
The gap, up 16% from last year, highlights the challenges coming into focus as the over-65 population in the US increases and Americans face the prospect of financing longer life spans and potential cuts to Social Security benefits.
“People’s ‘magic number’ is now 50% higher than it was during the pandemic,” said Aditi Javeri Gokhale, chief strategy officer at Northwestern Mutual. “Soaring costs are putting more pressure on consumers to plan and be disciplined savers, and everyone knows they will need more money as they live longer.”
Gen Z and millennials set the bar for a comfortable retirement the highest, at more than $1.6 million. Gen X was close behind. And the generation closest to retirement, the baby boomers, set the bar lowest, at $990,000. “Boomers have a better feel for their numbers and they don’t believe they will live as long as Gen Z, which expects to retire at 60 and live to 100,” said Javeri Gokhale.
Breaking out the size of current retirement accounts by generation reveals the daunting obstacles for savers of all ages. The average amounts saved were $22,800 for Gen Z, $62,600 for millennials, $108,600 for Gen X and $120,300 for boomers.
Tax Planning One way to help bridge that gap is through advanced tax planning to spread assets among accounts that are taxed differently.
“Many people put money in 401(k)s but don’t realize that in retirement that income will likely be taxed at about 20% or 30%,” said Javeri Gokhale. Withdrawals from traditional 401(k)s in retirement count as ordinary income so that can push retirees into a higher tax bracket.
Of the 30% of Americans surveyed who did have a plan to minimize taxes on retirement income, about a third said they would make strategic withdrawals from traditional tax-deferred and after-tax Roth retirement accounts in order to stay in a lower tax bracket.
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https://patrick.net/post/1344548/2022-04-11-putin-s-price-hike-failing-administrati
Frankly, I prefer my spaceship to have big tits and not fake inflated ones.
EDIT - numbers drop:
America goes back to the 80s: Surging gas prices and higher rents push inflation to 41-year high of 8.5% as White House blames it on Putin invading Ukraine
The consumer price index rose 8.5% in March from a year ago, the fastest increase since December 1981
Housing costs, which make up about a third of the index, have escalated and show no signs of cooling
Gasoline prices soared 49% in March from a year ago as the war in Ukraine rocked energy markets
Biden's administration tried to get ahead of the dire inflation news by blaming Russian leader Vladimir Putin
But Republicans place the blame for soaring prices on 'Democrats' reckless spending and failed policies'
https://www.dailymail.co.uk/news/article-10711311/Inflation-soars-new-41-year-high-8-5.html?source=patrick.net