Posted on 07/09/2024 3:40:08 PM PDT by Libloather
Very good...there is hope for many.
In my case I lost near everything when the government shut down my industry for the flu. I lost lots when the real estate market crashed and took down the rental market with it. I lost my first property when the city took my beautiful property through eminent domain at about 10% of what it was valued at.
Those are hard hits. How many others have been hit like that in that age group?
“55-year-old Americans have typically saved less than $50,000 for their pension”
What? I had more than that in my 401k when I was 30...
That’s exactly it. I max out my 401k contributions. The newest vehicle I own is over 10 years old and the most I’ve ever spent on one is $26k.
How much is the Jeep Wrangler that so popular with this demographic?
I retired recently. Actually I was laid off, but get two years severance, keep benefits until severance ends, and get unemployment. There is also job search assistance if I want it. But my job, which enabled me to save for retirement and do things I never thought possible, was never my passion. I enjoyed it, found it challenging, learned a lot and made a lot of friends though. I am thoroughly enjoying my retirement, doing volunteer work, traveling a lot, having my bathrooms remodeled, and anything else I want!
I understand they look at savings and 401K’s. My savings has 20K. I don’t have a 401K. But I have a lot of individual stocks and 5 mutual funds. I am 55 and will be fine in ten years. Problem is what they look at to judge a person’s retirement portfolio. I think Gen X’ers will mostly be fine.
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