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A school teacher friend quit his job, sold his house, took his $30,000 in equity with plans to travel until it was gone.
"You're 50!" I said. "What will you do when you spend all you have and then have an emergency?"
He said, "This is the United States of America! Somebody will take care of me."
Welfare, unemployment pay, food stamps, free health care (ERs), Social Security and myriad other social programs are available.
Our citizens don't save because they don't have to. They know this is the United States of America! Somebody will take care of them!
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