Nearly Half of Retired Americans Pass Away with Minimal Savings: Analyzing the Financial State of the Elderly

TrendyDigests ^ | March 3, 2024 | Noah smith

[AppyPappy]

Or they just spend themselves silly and give money to relatives.

[1Old Pro]

a significant portion of Americans – 46% to be exact – exit life with a sobering financial snapshot: $10,000 or less in their savings accounts.

Medicaid planning or other maneuvers to avoid unnecessary death taxes.

[AppyPappy]

I’m not sure there are any death taxes unless you own a lot of real estate. The key is to not draw down your retirement account in the 1st 5 years. If it grows at 8%, spend that 8% but no more. You want to properly work that spending muscle.

[13foxtrot]

That’s plan for us.

All of our assets will be transferred to our children long before we die.

[AuntB]

Please. Stop

[steve86]

Don’t ever be bitter toward God, no matter how bad things are, if that’s what you’re doing.

[AuntB]

It’s none of your business.

Wow

I’m done. You phony christians have destroyed this country as badly as the invaders.

Myob

[combat_boots]

I asked for my post of 5 March to be removed.

I had hoped by means of developing a formal treatment that your story could be funneled via connections to people who could broadcast it and correct the situation.

I’d have done it for free, but my clearance might interfere with my own situation. I’ve done nothing, nor will I. It’s your story, and the telling will need to be yours.

Please, at least try to get to Hoft. On your own.

I’ve only come out from under my rock on FR one other time. Never again.

My sincere apologies, AuntB.

[steve86]

I got a good dose of her vitriol also:

"From AuntB | 03/24/2024 2:26:12 PM PDT new

You are disgusting. Your God sucks

Get lost"

[DouglasKC]

well then they played their cards right. Died before they ran out of money and didn’t leave much for the grubby tax man to go after.

[af_vet_1981]

I understand.

Jude 1:

21. Keep yourselves in the love of God, looking for the mercy of our Lord Jesus Christ unto eternal life.
22. And of some have compassion, making a difference:

[where's_the_Outrage?]

There is a mix of retirements:

Pensions: Social Security, Military, RR, etc.

IRA/401K: Money saved where you draw and principal declines

Investments: Money that pays dividends, but you need to avoid decreasing the principal

Rental Income: Money from properties owned.

Annuities: Money paid every month for a given length of time, but unlikely to account for inflation.

Other: Inheritance, savings, other.

Pensions appear to be the best, until they run out of money and you lose it. Government pensions appear safe, but what the government gives, the government can take away.

Best to have a mix of all for when you don’t get what you expect.

[af_vet_1981]

All that and yet there is one investment for retirement that never runs out nor fades away. It is available to anyone who asks without price (no money), yet its value is incalculable.

John 4:

9. Then saith the woman of Samaria unto him, How is it that thou, being a Jew, askest drink of me, which am a woman of Samaria? for the Jews have no dealings with the Samaritans.
10. Jesus answered and said unto her, If thou knewest the gift of God, and who it is that saith to thee, Give me to drink; thou wouldest have asked of him, and he would have given thee living water.

Our Father in heaven, holy is Your Name. May Your kingdom come and Your will be done, on earth as it is in heaven. Give us this day our daily bread, and forgive us our sins, as we also have forgiven those who sinned against us. And lead us not into testing, but deliver us from the evil one. For Yours is the kingdom, and the power, and the glory, forever and ever. Amen.

(Matt. 6:9-13)