Posted on 04/18/2013 1:32:55 PM PDT by Hojczyk
If you think it’s hard saving for retirement as a couple, trying doing it as a single. According to a study—described by one expert as the most intriguing of 2012—the amount of money singles in their late 60s have saved up for retirement is dramatically less than that of married-couple households.
In fact, the median married household had in 2008 nearly 10 times more saved up for retirement than the median single-person household, $111,600 vs. $12,500. (Savings, for the record, included 401(k)s and IRAs and all taxable savings and investment accounts, but it did not include Social Security, pensions, or housing wealth. And single, at least for the purpose of this research could mean divorced, widowed or unmarried for most/all of their life.)
So what lessons can be drawn from the findings? In general, if you’re single you’ll need to accumulate much more in your nest egg than your married counterparts, according to Utkus.
Plus, you need to make sure you have the right kinds of insurance in place. “You need also to protect against large, unexpected claims,” he wrote. And that means, having disability, life, and health insurance. “The new health care act may help when you lose workplace coverage—but of course you’ll still need to buy a policy,” he wrote.
(Excerpt) Read more at marketwatch.com ...
“So what lessons can be drawn from the findings? In general, if you’re single you’ll need to accumulate much more in your nest egg than your married counterparts...”
Or, just vote for a Democrat.
a study—described by one expert as the most intriguing
A fool could figure this out... TWO People working
If a couple has only saved 125K by their late 60’s they must have been living way above their means for a long time
Voting democrat is short-term thinking but results in long-term misery.
WHAT GOOD IS A NEST EGHG THAT EARNS LESS THAN 1% INTEREST.
You will eat up the principle in 3 years and be on welfare after you sell your house to a reverse mortgager.
Duke Power stock pays a 4.5% dividend as does AT&T and AEP.
If you are single, what do you need a life insurance policy for? To settle any outstanding debts? AD&D (dismemberment without death)?
Who cares? If you scream loud enough, the government will give you more subsidies — food stamps, free medical, free transportation. And they’ll pressure your bank to let you stay in your house without paying the mortgage if you still have one. And how will Uncle Sam pay for it? By confiscating the 401Ks of those poor suckers who actually did save for retirement. “Ant and Grasshopper” in reverse.
You may be able to settle your debt to the government if you have organs healthy enough to be harvested.
In addition, why save - say - a half million dollars if that will only last you a year or two in the future economic collapse.
And don’t think that Obama and the libs weren’t paying attention to the money grab in Cyprus.
Its called redistribution. And thats been a part of Obama’s agenda since forever.
or they put all their savings into their home which was excluded from this.
The low, low interest rates have not helped savings accounts.
15 years ago a money market account was earning a ‘low-moderate’ 8%.
8 years ago I put some of my savings into CD’s. They were only earning 5%. On renewal, 4%. Next renewal 3%. Next renewal was 1%, which was less than my money market was earning, so I returned the funds to the money market.
Currently, that money market is earning 0.75%.
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I have noticed recently that my weekly grocery bill is running between $50 and $60. About 4 years ago, it was between $30 and $45. And 4 years before than, it was running about $25 to $30.
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Right now, the government is benefitting greatly from the low interest due to the size of the National Debt.
Those low rates are unsustainable. SuperInflation and rising interest rates will happen. When they do, prices will skyrocket.
And that considers fairly substantial salary increases because I had the luxury of working jobs which didn't pay very well but were fun when I was single.
And that considers fairly substantial salary increases because I had the luxury of working jobs which didn't pay very well but were fun when I was single.
Depends. One person supporting 2-5 people and then saving for retirement to support two people in retirement is harder than one single saving for retirement.
I tell my kids all the time God created the concept of family for a reason - it is the best social, medical, old-age, welfare and retirement insurance that exists, or will ever exist.
Depends. One person supporting 2-5 people and then saving for retirement to support two people in retirement is harder than one single saving for retirement.
Is this why queers want to marry? Will it instantaneously make them financially responsible? Inquiring minds want to know.
Who has money for retirement? The govt and Obama has taken it all. They find out you have an extra $10.00 laying around they pass another stupid bill or law to take it away from you.
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