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A comment on 62% of Americans Have Under $1,000 in Savings, Survey Finds. Parent comment

Re:62% of Americans Have Under $1,000 in Savings, Survey Finds by sleazebreeze on Thursday October 08, 2015 @01:55PM (#10354588)
My partner's family lives in government subsidized housing and they get the full array of benefits including disability and food stamps. His mother buys new luxury items like purses from Coach regularly with cash from under the table jobs. They have more TVs, newer smartphones and iPads and lots of other expensive goods, and yet they have zero savings. I don't understand the thinking there.

I just hope their retirement plan isn't to live with my partner and I.

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Re:62% of Americans Have Under $1,000 in Savings, Survey Finds by exhilaration on Thursday October 08, 2015 @02:39PM (#10355009)
At least in the U.S., putting that cash into savings would make it visible, putting their government benefits at risk. They probably don't make enough to survive -- those TV's and smartphones might only add up to a month or two of rent alone -- so they're trapped.
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Re:62% of Americans Have Under $1,000 in Savings, Survey Finds by cfontes on Thursday October 08, 2015 @02:06PM (#10354695)
You can bet your ass that the line of thinking is "They will support us"
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Re:62% of Americans Have Under $1,000 in Savings, Survey Finds by eimai134 on Thursday October 08, 2015 @03:27PM (#10355420)
I've known three women in the past year who receive benefits and do work under the table for cash. One told me a story about how bad it was when she started making more money and lost the benefits and how it "wasn't worth it." Another has two kids, is unmarried to get more benefits, and even though she job training said that she is never going to get a job that pays a lot because she wants to remain on food stamps. The other has an unreported side business that brings in about $1500 cash that she doesn't report.

Might be worth it for you to have a small place so there is literally "no room" for your partner's family...

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