1018
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 23 Oct 2023
1018 points (97.0% liked)
Work Reform
9857 readers
2 users here now
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
- All workers must be paid a living wage for their labor.
- Income inequality is the main cause of lower living standards.
- Workers must join together and fight back for what is rightfully theirs.
- We must not be divided and conquered. Workers gain the most when they focus on unifying issues.
Our Goals
- Higher wages for underpaid workers.
- Better worker representation, including but not limited to unions.
- Better and fewer working hours.
- Stimulating a massive wave of worker organizing in the United States and beyond.
- Organizing and supporting political causes and campaigns that put workers first.
founded 1 year ago
MODERATORS
There is no magic number you need. $3m will get you some lifestyle. You could retire at 40 with only $300k if you want to live the lifestyle that means (move to very low cost of living area where you walk to groceries). And there is a good chance social security will continue to provide a minimal income once you reach whatever age.
Not enough income to live indoors, but income nonetheless
I know places in the us where it is enough. Towns with populations of 500 are generally cheap. Not much to do in them.
You’re right. In a 1 bedroom in a rural city in a low cost of living state living as a freegan who never needs anything like medications you might be able to live off that.
I for one think that the situation with social security is that my parents and grandparents took one of the best things my country ever did, robbed it blind, and pissed all over it. Fuck. That. Shit.
And yeah I’m prepared to work the rest of my life until I get too old to work and then die homeless. That’s not what people should live like. We had something beautiful and let it fall into disrepair
I said you could. That you wouldn't want to is my point.
Let's say optimistically that you die at 70. That's 30 years living on 300k, so 30k per year on rent, food, utilities and medical. You could live indoors for that amount in some parts of America in 2023. But what about in 2053? Inflation could have a huge impact on your cost of living and if you're already living close to the bread line it's hard to find savings anywhere. You could put your money in stocks but likewise you're at the mercy of the market. It might be fine but if the market tanks when you're 65 you could be in big trouble.
$300k ÷ 30yr = $10k/yr
To put it in perspective, working minimum wage ($7.25/hr) full time would earn around $15,000 in a year.