you get Richer as the Older You’ll Get

[bitsmichel]

The older you get the more of income you should have am I right?

No, the income stream does not depend on age, it depends on the transactions and the amount. Companies will not pay you to take them over financially 

[boumalo]

If you are saving you have accumulated more when you are old than when you are young and you enjoy the compounded interests of your savings

[bryant.coleman]

If you are saving you have accumulated more when you are old than when you are young and you enjoy the compounded interests of your savings

I have seen bankrupt pensioners, who don't have a penny in their savings bank accounts. I have also seen young people (in their 30s) with massive bank balances.. so this is not always the case.

[Swordsoffreedom]

If you are saving you have accumulated more when you are old than when you are young and you enjoy the compounded interests of your savings

I have seen bankrupt pensioners, who don't have a penny in their savings bank accounts. I have also seen young people (in their 30s) with massive bank balances.. so this is not always the case.

Well that is true but one has to wonder what the story is
Chances are those 30 year old massive bank balances could have lost it all just because of the thing called time by the time they reach their senior years
You know gamble it all one night in Vegas lol

[boumalo]

If you are saving you have accumulated more when you are old than when you are young and you enjoy the compounded interests of your savings

I have seen bankrupt pensioners, who don't have a penny in their savings bank accounts. I have also seen young people (in their 30s) with massive bank balances.. so this is not always the case.

Well that is true but one has to wonder what the story is
Chances are those 30 year old massive bank balances could have lost it all just because of the thing called time by the time they reach their senior years
You know gamble it all one night in Vegas lol

I was talking in average obv!

30 years old with a large balance often means it's their parent's money

[bryant.coleman]

30 years old with a large balance often means it's their parent's money

Not always, but quite often it is so. But there are exceptions, such as Mark Zuckerberg who became a billionaire when he was still in his twenties. Also, in Western countries, inheritance reaches the heirs only when they get in to the 50s or 60s, as a result of the growing life expectancy. 

[madken7777]

The older you get the more of income you should have am I right?

Not always true. Slower and dumper as one get older. Productivity goes down and less income.

[nickenburg]

Yeh most people get more $ per hour, so that automaticly makes you more richer the older you get.
But would that be fair is the question because you will proberly do less work and will also the easier work proberly.
And the young people do all the hard work but get payed the least.

[RodeoX]

The OP must be thinking it's 1970 or something. That old American economy is gone. In fact purchasing power is dropping every year and many people are retiring into poverty after a lifetime of middle class work. 

[jbrnt]

It depends on how much you save during the working years, and what you doing the savings. If you spend all you earned, your debt is likely to pile up the older you get. If you save and leave the money in a savings account, the savings will be eaten away by inflation, purchasing power of the savings will drop. Only those who save and invest successfuly will get richer the older he gets, which may be a minority in the population.

[zolace]

The OP must be thinking it's 1970 or something. That old American economy is gone. In fact purchasing power is dropping every year and many people are retiring into poverty after a lifetime of middle class work. 

ya thats kind of true but do yo remember why we got into debt in the first place?  Many people get rich only if they can not buy the fancy cars,  name brand anything and try to save buying your items at a thrift show.  I see many people were rich when the got older because of spending habits alone.

[RodeoX]

The OP must be thinking it's 1970 or something. That old American economy is gone. In fact purchasing power is dropping every year and many people are retiring into poverty after a lifetime of middle class work. 

ya thats kind of true but do yo remember why we got into debt in the first place?  Many people get rich only if they can not buy the fancy cars,  name brand anything and try to save buying your items at a thrift show.  I see many people were rich when the got older because of spending habits alone.

Good point. I think it's funny how many people think being rich is all about spending money. As though they got rich that way. My wealthiest friends are proud cheapskates. They don't even care about money, just wining. They can't stand to see some other guy get a higher score then they have.

[bryant.coleman]

The OP must be thinking it's 1970 or something. That old American economy is gone. In fact purchasing power is dropping every year and many people are retiring into poverty after a lifetime of middle class work. 

And not to mention the large number of people who are laid off and are unable to find alternative employment. The older you get, the chances of re-employment gradually vanishes.

[Swordsoffreedom]

Well I guess we should have added the condition that you get richer the older you get if your income beats the rate of inflation and the devaluation of your dollar.

[zolace]

The OP must be thinking it's 1970 or something. That old American economy is gone. In fact purchasing power is dropping every year and many people are retiring into poverty after a lifetime of middle class work. 

And not to mention the large number of people who are laid off and are unable to find alternative employment. The older you get, the chances of re-employment gradually vanishes.

well this is why you have to save for a rainy day and get more skills, the more skills you have the better it is to keep an income, look at me no job. Still im able to put money away for retirement in a safe not bank, and yeah in a cold wallet some of my btc is stored.  Its all about adapting to changes, which many cant do.

[DVFree]

The older you get the more of income you should have am I right?

As in a sense of determinism, no, why should you have more income by just getting older? Obviously you're more dependent on medical expenses but that is a social issue.

Most people get more income as they grow older because they have invested in themselves either by furthering their educational levels or through work experience.

[bryant.coleman]

well this is why you have to save for a rainy day and get more skills, the more skills you have the better it is to keep an income, look at me no job. Still im able to put money away for retirement in a safe not bank, and yeah in a cold wallet some of my btc is stored.  Its all about adapting to changes, which many cant do.

That was what I was saying. The older you get, that much more difficult it becomes to acquire new skills. For younger people, it is easy. But once you get in to the 40s and 50s, it is very difficult.

[TaunSew]

well this is why you have to save for a rainy day and get more skills, the more skills you have the better it is to keep an income, look at me no job. Still im able to put money away for retirement in a safe not bank, and yeah in a cold wallet some of my btc is stored.  Its all about adapting to changes, which many cant do.

That was what I was saying. The older you get, that much more difficult it becomes to acquire new skills. For younger people, it is easy. But once you get in to the 40s and 50s, it is very difficult.

Sounds like an ageist statement if I have seen one.  There are students over age 40 (even 60) in universities and they seem to be just as capable, as the younger students, in finishing their degree (and learning new things).

Older people don't suck at learning new skills - they just become complacent (apathy) or get tied up with responsibilities which prevents them from learning skills or going back to school.

 

[bryant.coleman]

Sounds like an ageist statement if I have seen one.  There are students over age 40 (even 60) in universities and they seem to be just as capable, as the younger students, in finishing their degree (and learning new things).

Older people don't suck at learning new skills - they just become complacent (apathy) or get tied up with responsibilities which prevents them from learning skills or going back to school.

I don't have any doubts about their conviction or self-belief. But all I am saying is that it takes much greater effort from their side, when compared to the younger population.

[arbitrage001]

Don't forget medical cost will get higher as you get older.

Your income alone may not cover these fee.