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42% of Americans are at risk of retiring broke
CNBC ^ | March 6, 2018 | Jessica Dicker

Posted on 03/06/2018 8:30:09 AM PST by C19fan

At this rate, retirement is more of a fantasy than a reality for many people in this country.

About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday.

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


TOPICS: Culture/Society; Politics/Elections
KEYWORDS: poverty; retirement; seniors
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Unlike the Aesop fable the grasshoppers can vote to take from the ants.
1 posted on 03/06/2018 8:30:09 AM PST by C19fan
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To: C19fan

Well, I wan’t broke when I retired but now......................


2 posted on 03/06/2018 8:31:06 AM PST by rktman (Enlisted in the Navy in '67 to protect folks rights to strip my rights. WTH?)
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To: C19fan

More ground prep for Universal Basic Income.


3 posted on 03/06/2018 8:31:59 AM PST by Buckeye McFrog
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To: C19fan

Meaningless statistic.


4 posted on 03/06/2018 8:33:33 AM PST by sickoflibs (Vote Trump for Gun safety!)
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To: Buckeye McFrog

and the flip side of the universal income argument which is never spoken is: the money has to come from someone! Hence, when more than half of the population pays no income tax and even gets money over and above what they may have paid in, the producers get socked.

When I heard 50% of those surveyed thought the tax cut was a good thing (as opposed to more than 50% which seemed more likely), one has to consider that half of those surveyed don’t pay taxes to begin with. In fact, they look at it as less money in means less bennies for them. F em I say.


5 posted on 03/06/2018 8:36:46 AM PST by Mouton (The MSM is a clear and present danger to the republic.)
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To: C19fan

Why wait until retirement? I’m broke now.


6 posted on 03/06/2018 8:37:35 AM PST by Yo-Yo (Is the /sarc tag really necessary?)
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To: Buckeye McFrog
"More ground prep for Universal Basic Income."

And confiscation of 401ks and IRAs.

7 posted on 03/06/2018 8:38:25 AM PST by Tench_Coxe
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To: C19fan

How does one retire if one is “broke”?

If you want to eat and have a roof over your head, you don’t retire.

Retirement is becoming, for many, an unreachable, outdated concept.


8 posted on 03/06/2018 8:38:52 AM PST by bkopto
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To: C19fan

One benefit of moving to KY, for us, is that we can live comfortably on SS alone, if it were to come to that. We’re both 64...


9 posted on 03/06/2018 8:39:10 AM PST by robroys woman (So you're not confused, I'm male.)
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To: C19fan

I’m 85 and I Wanna Go Home!
https://m.youtube.com/watch?v=H2zkZgZYEng


10 posted on 03/06/2018 8:40:19 AM PST by silverleaf (A man who kneels for the national anthem doesn't stand for much of anything)
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To: C19fan

and 44% get food stamps.

https://www.npr.org/sections/thesalt/2017/05/24/529831472/trump-wants-families-on-food-stamps-to-get-jobs-the-majority-already-work


11 posted on 03/06/2018 8:41:05 AM PST by Brown Deer (America First!)
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To: bkopto

the whole concept of retirement was created during the great depression to get older workers to step aside to open up jobs for younger ones.

It’s all bs


12 posted on 03/06/2018 8:41:50 AM PST by TexasFreeper2009
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To: robroys woman

Same here. We put money into real estate as well.


13 posted on 03/06/2018 8:45:38 AM PST by MarMema
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To: C19fan

We could retire in a couple of years and live comfortably if we didn’t have to worry about affording health insurance. Thanks to Jughead, insurance would cost about half of our monthly expenses...


14 posted on 03/06/2018 8:46:27 AM PST by Smittie (Just like an alien I'm a stranger in a strange land)
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To: Tench_Coxe
And confiscation of 401ks and IRAs.

I firmly believe this was on Hillary's agenda. If the democrats ever regain power, look for this to be rammed through just like Obamacare was. The media will paint it as "saving Social Security" and concoct a new "right" to retire. The public schools have done irreparable damage to the youngest generations, and many of them will applaud the easy answer (stealing from the rest of us).
15 posted on 03/06/2018 8:47:07 AM PST by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: C19fan

Hard to save for retirement if you’re paying four to five figures in property taxes....


16 posted on 03/06/2018 8:47:56 AM PST by mewzilla (Has the FBI been spying on members of Congress?)
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To: MarMema

Yep. Get the house paid off and it makes it even sweeter. It’s what we’re working towards.


17 posted on 03/06/2018 8:48:51 AM PST by robroys woman (So you're not confused, I'm male.)
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To: C19fan

Retirement is fairly new concept in the history of man.

People began working as children and continued until disabled or died. This explains why large families were a necessity. Children were the social security in the past.

Retirement is still possible, but it takes planning and sacrifice when you are young. You can not wake up at 60 and realize you don’t have a plan.


18 posted on 03/06/2018 8:49:27 AM PST by CIB-173RDABN (US out of the UN, UN out of the US)
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To: Buckeye McFrog
More ground prep for Universal Basic Income.

My first thought.

It would appear that Millenials are the first true generation that is inclined towards Socialism. Sure, in the past there have been pockets of fringe groups wanting Socialism, but Millenials, who went all in for Bernie, seem the most eager to see Socialism implemented as evidenced by the universal basic income appeal.

It's always in the best interest of the least industrious of society to demand Socialism. Bernie promised a lot of free... stuff.

The Boomer generation were a very selfish lot, but Millenials truly believe they are deserving of all and should be rewarded for just showing up. Guaranteed basic income rewards Millenials and the least industrious with the wealth created by others and rewards their self-esteem because they showed up, therefore they should certainly be given "something"!

19 posted on 03/06/2018 8:49:35 AM PST by Obadiah
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To: Tench_Coxe

However, instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be your deposit accounts. Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.

https://sandiegofreepress.org/2015/01/the-bail-in-how-you-and-your-money-will-be-parted-during-the-next-banking-crisis/


20 posted on 03/06/2018 8:49:43 AM PST by eyeamok (Tolerance: The virtue of having a belief in Nothing!)
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