From California.........
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 ...
Live below your means.
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.
I'm with you. MONEY is NO guarantee of anything.
As my grandmother used to say.. "If you have your HEALTH, you have EVERYTHING!"
“I plan on enjoying my retirement to the fullest with the plan that when I leave this world, there won’t be a dime left to my name.”
Our adult children call that excellent retirement planning and estate planning.
Indeed to much play time has a hell of a price to pay.
Yes, I’ve been thinking about this lately. How do you protect assets from legal plunder?
One would think so with all the Republicans deciding to 'retire' this year.
People feared 'the Clintons' because they were rumored to have FBI files on their political enemies... NOW the fear is the FBI has the FBI files.
It’s harder to plunder land and property than cash sitting in a Mutual Fund...
When 60M people don’t work, why is this a surprise. I think the stat should be celebrated. Three generations ago there was no such thing as retirement. You stopped working because you could not work any longer and shortly thereafter you died. My father was the first in his family to actually retire and live comfortably. He retired at 60 and is still kicking at 86. Mom too. Still in the house they bought in 1960. Their parents, no way could they live for 26 years in retirement.....without having zero left over. My dad was a school teacher. Get a skill. Work hard. Get and stay married. Pay cash for everything except your house. Owe nobody. This formula ALWAYS works in America.
You must live in Texas!
Exactly what I've been saying. Texas has a big problem that's about to hit home. People can't afford their homes once they stop working even if they have no mortgage. Property taxes never end and even a modest home in Texas has some 6k plus per year in property tax.
Retirement is a recent fantasy. Until fairly recently, you worked as long as you could, then family would care for you and you would perform tasks such as supervising and teaching children and cooking and housekeeping.
From California.........
Upstate NYS. 4 to 5 figs on $150,000 to $200,000 homes around 2,000 sq ft. NOT Mcmansions. Many can’t sell them or have to sell at a loss because buyers can’t or don’t want to assume the prop tax burden. Deductible, mostly, but still, that’s money that could be saved for retirement and won’t be.
Just like their country!!
78% of internet statistics are over 90% manufactured
Now, we are in the process of obtaining a Reverse Mortgage
to continue to live the house we love and with great neighbors.
Just an FYI on reverse mortgages. I’m sure you’re doing your due diligence on it, but watch the fine print. Some less than scrupulous companies out there.
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Retirement is becoming, for many, an unreachable, outdated concept.
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Regardless of its inception, when GOVT has, illegally/uncost., created economic SLAVES out of 50% of the populace.
Guess that’s what We get for allowing Socialism to overtake this once great Republic.
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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).
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Don’t be too sure. Those yougin’s know well enough how to read their pay-stubs.
IMO, the real ‘party’ is coming when the young masses meet the economic slavery of the older masses. Just whom do you think would win? The ‘less time on this Earth’ or those w/ many a voting year ahead of ‘em?
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