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Nearly one-third of Americans have no retirement savings
The Week ^ | 05/27/2015

Posted on 05/28/2015 6:32:55 PM PDT by SeekAndFind

Only 63 percent of Americans have saved any money for retirement within the past year, according to a Federal Reserve survey released Wednesday.

The survey of 5,800 Americans, conducted last fall, found that 31 percent of Americans have no retirement savings or pension plans. And among adults older than 45, almost 25 percent of respondents didn't have retirement savings. Thirty-eight percent of respondents, meanwhile, said they don't plan on retiring and will "keep working as long as possible," USA Today reports.


(Excerpt) Read more at theweek.com ...


TOPICS: Business/Economy; Society
KEYWORDS: retirement; savings
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To: SeekAndFind
"Nearly one-third of Americans have no retirement savings"

And for many that have retirement savings, the savings are worth substantially less now than eight years ago.
21 posted on 05/28/2015 6:55:23 PM PDT by clearcarbon
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To: SeekAndFind

Divorce. Divorce really crushes people’s retirement.


22 posted on 05/28/2015 6:55:37 PM PDT by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: Senator_Blutarski
That depends on the job. Some of us retired to survive.

Me too, between military and blue collar jobs over the last almost 50 years, I can't keep up with the young'uns anymore.

I'm semi-retired, (work 20 hours/week for the exercise), and am living quite comfortably, thank you.

23 posted on 05/28/2015 6:55:57 PM PDT by PROCON (CRUZing into 2016 with Ted.)
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To: SeekAndFind

I could retire now, but I like my job. I will probably work until I die.


24 posted on 05/28/2015 6:56:36 PM PDT by umgud (When under attack, victims want 2 things; God & a gun)
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To: SeekAndFind

We do (a bit), but expect the feds to raid it.


25 posted on 05/28/2015 6:59:08 PM PDT by RushIsMyTeddyBear (The White House is now known as "Casa Blanca".)
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To: Senator_Blutarski

Dittos to that! (It was long way down if ya slipped and ‘went for a walk’).


26 posted on 05/28/2015 7:01:24 PM PDT by bobby.223 (Retired up in the snowy mountains of the American Redoubt and it's a great life!)
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To: SeekAndFind
My Dad,a child of the Depression,taught me frugality and "saving" for a rainy day.Thanks to his teachings I've got a nice nest egg.I fully expect at least part of it to be seized by successors of our Ambulance Chaser-In-Chief long before serious mental or physical sets in...that is,while I'm still young enough to enjoy it.

But I'll be thrilled to know that "it's for the children".(end sarcasm)

27 posted on 05/28/2015 7:02:59 PM PDT by Gay State Conservative (Obama;America's Ambulance Chaser-In-Chief)
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To: SeekAndFind

Sure they do.
Yours and mine.


28 posted on 05/28/2015 7:03:52 PM PDT by Kozak (Walker / Cruz 2016 or Cruz/ Walker 2016 Either one is good...)
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To: SeekAndFind

The ones that worked believed the government would give back the money they took when the time came, so they didn’t bother or didn’t have enough left to save. They had no choice.


29 posted on 05/28/2015 7:07:01 PM PDT by TribalPrincess2U (0bama's agenda—Divide and conquer seems to be working.)
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To: ClearCase_guy

“I expect to die in a re-education camp, so I’m not making long-term plans.”

Congratulations, you are quite possibly correct.

But, I think going out in a hail of gunfire preferable.


30 posted on 05/28/2015 7:12:05 PM PDT by right way right (Disclaimer: Not a prophet but I have a pretty good record.)
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To: GGpaX4DumpedTea
I disagree, I think Walmart shows a pretty good sample of the population at large. It has a smattering of well off people like myself mingling with the vast horde of lower middle class people barely able to waddle down the isle.

This article below for instance says that 73% of Americans are living pay check to pay check.

http://money.cnn.com/2013/06/24/pf/emergency-savings/

31 posted on 05/28/2015 7:14:17 PM PDT by TexasFreeper2009 (You can't spell Hillary without using the letters L, I, A, & R)
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To: SeekAndFind

‘Cause they have no money? ‘Cause the Obama Economy is so very bad that all their money is going to buy expensive food and expensive health insurance? I’m tired of the trope that only lazy people have no retirement income.


32 posted on 05/28/2015 7:15:00 PM PDT by miss marmelstein (Richard the Third: "I should like to drive away not only the Turks (moslims) but all my foes.")
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To: SeekAndFind

“keep working as long as possible,”

I had hoped (not planned) to do that, also. But when the company goes out from under you and you have to deal with the ageism problem those who are over 50 face in hiring, basing your retirement finance on working until you croak is denial at its finest.


33 posted on 05/28/2015 7:16:24 PM PDT by sparklite2
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To: sparklite2

Yes, for many, retirement will come sooner than they want.

That’s why I tell everyone, prepare to work for yourself by the time you’re 40.


34 posted on 05/28/2015 7:18:03 PM PDT by dfwgator
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To: right way right

I will likely be following Solzhenitsyn’s advice on how the Party Organs should have been dealt with.


35 posted on 05/28/2015 7:22:03 PM PDT by Fred Hayek (The Democratic Party is now the operational arm of the CPUSA)
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To: miss marmelstein

Me too.

Sometimes things happen that people who worked all their lives have no control over.

For example, a horrible, long lasting illness or accident...losing a good job and not being able to find another one equally as good because no one will hire a 62 year old except minimum wage businesses.


36 posted on 05/28/2015 7:23:57 PM PDT by bimboeruption ("Occupy till I come" ~ OPORD issued by CIC Jesus Christ)
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To: bimboeruption

My husband had a three figure income for 25 years. There was no pension involved - it was a theatrical position which he did for love. I was the one with the pension but am still to young to collect it. At 62, he was fired at will and now cannot find a job. It’s been a struggle for us but thanks to our own two hands - and some help from family - we’ve pulled through. We’ll probably work until we drop but, hey, they never promised us a rose garden. People shouldn’t judge until they’ve walked in another man’s shoes.


37 posted on 05/28/2015 7:30:38 PM PDT by miss marmelstein (Richard the Third: "I should like to drive away not only the Turks (moslims) but all my foes.")
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To: SeekAndFind

I don’t have a traditional pension for very good reason, almost every single one of my savings schemes invested with professional financial advisers over the past quarter century have tanked. We aren’t talking huge sums but enough to make me very leery of ever trusting traditional banks, pension funds or insurance companies to look after my money.

My “pension” is in my property and tangible assets that I own outright, I have no debt and a liveable income, I intend to make my assets sweat for me when I am too old to work and hopefully will be able to pass them on to my kids.

Anyone who has observed the shenanigans financial services industry over the past decade or more would need to be clinically insane to give them their life savings to look after. Quite apart from the fact that you are merely storing your cash in a convenient location for the government to confiscate when the time comes.


38 posted on 05/28/2015 7:32:19 PM PDT by PotatoHeadMick
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To: TexasFreeper2009

I don’t disagree with the data cited in the link you posted. I do not believe WalMart shoppers are representative of the country as a whole. I do not shop at WalMart. Haven’t since they went primarily a distributor of Chinese goods. I also do not shop at Sam’s. Your identifying yourself as a WalMart shopper makes me wonder...WalMart pricing and quality can be bettered any number of ways to shop.


39 posted on 05/28/2015 7:48:16 PM PDT by GGpaX4DumpedTea (I am a Tea Party descendant...steeped in the Constitutional Republic given to us by the Founders)
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To: Fred Hayek

Now I have a google assignment. Thanks.
I will read on it.


40 posted on 05/28/2015 7:49:52 PM PDT by right way right (Disclaimer: Not a prophet but I have a pretty good record.)
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