‘I plan on dying [in] my cubicle’: 41-year-old woman owes nearly $125,000 in debt and doesn’t know how she’s going to retire. Here’s what you can do if you’re in the same situation

https://www.msn.com perosnal finance ^ | 4/30/24 | Sabina Wex

[RomanSoldier19]

Fidelity’s 2024 State of Retirement Planning shows that TikToker @my_secrets_untold is part of the “new retirement,” wherein 57% of Americans plan to keep working after retirement — at least part-time.

Of those planning to delay retirement, two-thirds are in the same boat as @my_secrets_untold: they’re doing it out of financial necessity.

Working past 65 will give you a greater safety net because you’ll still have income coming in. You can’t just rely on Social Security, which currently doesn’t offer most retirees enough money to live on — particularly when paying for health care (a major concern for many Fidelity respondents).

Although working past retirement may not sound ideal, 68% of people surveyed by Fidelity said they’re looking forward to it. Many retirees end up feeling aimless and bored after they’ve left the workforce behind.

[Hulka]

Especially with an expensive do-nothing degree.

[RomanSoldier19]

More than 20% of Japanese men and women older than 65 still work, and this trend is expected to grow

[Nervous Tick]

>> Boy, I hope I am wrong.

I hope you are wrong as well. Not to discount the danger of the course we’re on...

[dfwgator]

You better believe cancelling consumer debt is on the Rats’ “To Do List”.

[SaveFerris]

John Ankerberg referenced it in another video; balance of power shifting to Europe. America is reduced to a second-rate power.

I assume that's because, like me, he expects the Antichrist to arise from there.

Can't prove it Biblically - I'll admit - it seems possible, IMHO.

The EU already has their own "new" Tower of Babel in Strausburg, France. It's already been up for some time (for the thread)

Speaking of the Tower of Babel (Globalism)............painting on the left was done 400+ years ago by Pieter Brueghel



European Union poster for promoting membership in the EU



The 2014 Global Citizen Festival in New York City

[CurlyDave]

Articles like this are pablum to scare the hell out of people and boost deposits of managed money. It really isn’t rocket science and you don’t need an advisor. You need to start with discipline to the tune of at least 25% of your gross any way possible and whatever it takes. If you can’t start there you are doomed to poverty and living hand to mouth. Put it in dividend bearing ETF stocks or an S&P ETF and leave it the hell alone! Just keep doing it on and on and on. One day you could be able to retire comfortably. Start early and never give up.

Exactly how it is done. Just one thing to add. A side gig you can take with you when you "retire". DW and I put about 15% into stocks and 10% into rental real estate. I didn't retire, I fired my boss. I am the boss of the side gig. It makes part time work quite a bit easier when we make all decisions and get all the profits.

Send your financial advisor's kids to community college. Learn to manage your own investments.

[SaveFerris]

John Ankerberg referenced it in another video; balance of power shifting to Europe. America is reduced to a second-rate power.

I assume that's because, like me, he expects the Antichrist to arise from there.

Can't prove it Biblically - I'll admit - it seems possible, IMHO.

The EU already has their own "new" Tower of Babel in Strausburg, France. It's already been up for some time (for the thread)

Speaking of the Tower of Babel (Globalism)............painting on the left was done 400+ years ago by Pieter Brueghel



European Union poster for promoting membership in the EU



The 2014 Global Citizen Festival in New York City

[roving]

I used a 401 calculator. It was free from my bank. I just put in my information, and it made the picks for me. It did a pretty good job, a better job than when I did it myself.

[SaveFerris]

Oh, a “cubicle” - I remember those

Back when there were office jobs

[SaveFerris]

oops

[Political Junkie Too]

I’ll bet you that she did not spend $110,000 on education. She’s squandered the money on trips cars, etc..

The article also said "Most of the current debt comes from people who are lower-income, like @my_secrets_untold."

Notice how they passively snuck in "like @my_secrets_untold" to indicate that she ran up $110,000 in student debt and then left college for a low-income job?

It makes one wonder what she got her degree in, if she even finished college.

-PJ

[GrumpyOldGuy]

I’m unimpressed. This idea of retiring at 62 or whatever, and spending the next twenty years or so doing whatever you want is a profyct of the 20th century. Historically people worked all their lives if possible.

[Theophilus]

She could still have a baby of she gets busy.

[Psalm 73]

"Oh please. She’s 41."

Although not in debt, I didn't start saving for retirement until I was 40 - I'm 65 and have put together a nice nest egg in 25 years.

She just needs to stop doing stupid stuff.

[3RIVRS]

Only 125k? Must not own a house.

[napscoordinator]

Most mortgage debt is way over that. Thankfully I’m down to 57K left on my mortgage.

[Machavelli]

Politicians give hundreds of billions to the Ukraine dictatorship but cannot shore up Social Security.

[napscoordinator]

It’s going to be a tough time for future retirees. They are no pensions, politicians want to take away social security. Not sure workers are putting enough in their 401K and even if they are one good turn to the negative will lower the balance. It’s definitely going to be a dismal future for most.

[AppyPappy]

I bet she will always have a car payment.

[maddog55]

At 41 I had far more debt with a mortgage, car payments, credit cards, two kids etc.

We retired 7 years ago, do what we want and enjoy life. We’re debt free although we have a car payment which can be paid off anytime but it’s low interest so don’t care