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 ...
This is a little deceiving. It includes everyone in the workforce, including 20 year old kids. At 20, I had less than $10,000 saved for retirement. With respect to anyone who is over 50 with less than $10,000 saved, God help them. They should have planned better.
Even since I was a kid in the 1960's, I always knew ideas like this are why they have wanted to take our guns away for 50 years.
Before I let that happen I would cash out, buy the biggest boat I could, and sail away from the US.
On the other hand, maybe we should all start Clinton type not-for-profit ‘charities’, and donate all of our money to ourselves.
I was always a saver, but needed to get in tune with Dave Ramsey in order to win my wife over. We got aggressive in the last 5 years and are on plan to hit retirement comfortably. Am touting this to all my kids and they are at least turning their ship now and not waiting until cold reality is staring them in the face. It's the 60+ workers who didn't plan and can't retire that I feel for...
That applies to a state of sc employee.
It was professional poverty.
I don’t miss it. Private industry has been far better to me.
Prop 13 in California is one of the good things about living here.
I pay about $1,200 a year in property tax.
And confiscation of 401ks and IRAs.
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A statement that mere years ago would have seemed flagrantly radical and obnoxious troll-bait, but if you open your eyes you can see it’s not lunatic fringe. This is the mindset of the wealth bandits. They think they are robin hood. There is always a rationale. Those who were able to save and invest for retirement obviously did it on the backs of the less fortunate.
It doesn’t matter that the 42% who will be broke will get help. It wont be enough. And it doesn’t matter that these people go into it knowing mother government will save them. They will say it’s not enough.
Compassion means taking from the prepared and giving to the unprepared.
Half of the world’s population will never reach that status we call retirement.
My wife and I are the first wave baby boomers. Social Security is still there for us. Not sure about those that follow.
“Half of the world’s population will never reach that status we call retirement.”
I will never retire, but I may at some point start taking longer and more frequent vacations..
“””About 42 percent of Americans have less than $10,000 saved for when they retire”””
I read the article and nowhere did I find which age groups had less than $10,000 saved.
If 42 percent of Americans (ABOVE THE AGE OF 50) have less than $10,000 saved for when they retire, THEN THAT IS A PROBLEM.
On the other hand if most of the 42 ‘percenters’ are age 18 to 40, then not so big a deal.
Sloppy analysis by CNBC. But what is to be expected from a leftie trying to push an agenda.
This fact is something the people of Texas are not seeing coming. Property taxes are going to make their homes worthless.
Texas did a great job of selling "we don't have state income tax". It was a great selling point for the last couple decades but the bloom is off the rose. People are starting to figure out sky high property taxes are FAR worse than a state income tax and very low property taxes. With the state income tax you STOP paying the tax as soon as you don't have the high income. High property taxes never go away even when you can't generate enough income to afford them. It's a killer asteroid that's about to hit here and very few see it coming.
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Social Security has really let down all the low-information voters. They’ve been taking people’s money all their lives and should have invested it into some type of growth fund.
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Let down? Low-info? Tell me, what Ponzi scheme doesn’t eventually implode? It’s *perfect, right?. Aside from it’s unconst/illegal beginnings and already part of the $120T+ in unfunded liabilities and...
Sorry, but you’re also presuming these same people, given their own $$, would have smartly put some under the mattress, X-Mas club, rainy-day fund, etc.?
The bigger question is: Why is that anyone’s problem but THEIRS (aside from some ‘brothers keeper\Socialism’ bull-squeeze)?
Course, it was MUCH easier to live not even 50yrs ago on a single salary/head-of-household, when govt wasn’t picking your pockets for 75% of everything you had to (illegally) give it to another, ‘invest’ it in “national security” (aka foreign aide), on illegals, their next bonus’...
“””One benefit of moving to KY, for us, is that we can live comfortably on SS alone, if it were to come to that.”””
The answer is simple: end the taxation on bank account interest and stock dividends. Once that happens, people can save for “nest eggs” essentially tax free, and you would see so many people go this route that it could even reduce the pressure on Medicare and Social Security down the road.
What’s this “retiring” ?
2nd half of the headline is missing...
“... which is why the Government wants your 401K to redistribute”
Thank a Democrat for being broke
Amen!! My parents are loaded and I’ve told them to enjoy themselves to the hilt and don’t leave us kids a dime. They worked hard and saved and they deserve it.
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