Posted on 06/02/2022 12:43:59 PM PDT by knighthawk
Forget about holidays!
Millions of Americans are putting off retirement as inflation continues to soar and President Joe Biden takes the brunt of the blame.
A new survey, conducted by BMO, shows that 25 percent of Americans are considering putting off retirement as the US experiences seemingly runaway inflation that is devaluing savings accounts.
(Excerpt) Read more at dailymail.co.uk ...
Fortunately I’ve got about 6 more years before I can consider retiring.
I’ve got enough that I could retire today but it would be really tight. Super tight with Biden in charge.
Imagine where our country will be in three years. A new president, Pelosi and Schumer out of the picture and drill baby drill being the operative words. Fuel cost will be circling downward and the economy will be pulling like a freight train.
Socialism will be bookended by strength and prosperity on both sides and will be in it’s death rattle.
Hey I can dream can’t I?
wonder how many are living off credit?
because it’s reported use of credit cards is going up. unlike the government, when the people hit the limits, they run out of credit.
Retired (forced) a few years ago at 62. Looked good until now; may go get a job (still seem to be plenty here, though not in my old field or pay level.)
But let's be honest. Much of the blame goes to people not doing any much financial planning and budgeting and paying off debts and investing for their future. Bidenflation should be learning experience both to do some financial belt tightening and in 2024 to vote early and often for Trump.
Only 60%, amazing how many brainwashed delusionals are out there.
It’s more than 60%. The samples are cooked. I think the number is 68-75%. Judging by some things leaking out I’d say Biden’s internals show the same thing. So Biden is going on TV to talk about gun control.
Its Biden AND the dimocraps fault. They are in charge. Stolen elections matter.
Note to DM commenter Stella, in Dallas who wrote...
“Inflation is global. Do some research, FFS.”
Deep States are global, too, sweetie.
SSDDS.
i bet most young Americans were not saving anyhow ( and what’s “young”)
I’m in a similar situation. In most careers, you age out at a certain point.
Depending on the job, the social interaction can be good for you. (but not the stress)
Plus people our age show up every day and do honest work all day so there’s that.
My usual breakfast at McDonalds went up 25% today, after several earlier hikes.
I was in Walmart Grocery earlier this week and noticed a lady checker who used to work at the Walmart Supercenter on the other side of town.
Once, we had a brief chat as she was checking me out. She said she had to work, even though she was 85 years old. That was at least 5 years ago.
No question there. I listen to Dave Ramsey occasionally. it’s amazing how many people with decent incomes have nothing to their name but debt.
I don’t follow the Ramsey plan, mainly because besides our mortgage, we don’t have any debt. Never have except a couple times we had a modest car payment.
The neat thing is how that mentality spans generations. We have four grown kids, all out on their own. One owes us a few thousand dollars. One ran up $30,000 in student debt. He went into a lucrative career and paid it off in one year. He still lives frugally, except for all the guns he buys.
One of my daughters doesn’t earn much and lives well within her means. The two of them are skydiving this weekend so she does have some disposable income.
I’m joining them as we jump out of perfectly good airplanes on Saturday.
My retirement is tied up in my business.
We had plans to retire when the wife turned 67. We had projections showing that we would have enough to retire just about then.
That is out the window. Good thing we like what we are doing...we will be doing it until we die.
Joe Biden could not be trusted to operate a lemonade stand in his own front yard.
I was going to retire in about a year. The economy crashing could not have come at a worse time for us. F#@k Joe Biden.
Which way does everyone think taxes are headed?
Work more for less - and be happy…
The only debt my wife and I have is our mortgage, and the HELOC I took out a year ago to buy the solar system. I'm in the middle of increasing the HELOC debt to expand the solar system, now that I have a year's worth of power data to examine and see how efficient it is in various scenarios. I also ordered a new EV which we'll make car payments on, with the help of the HELOC and with the help of a car savings account my wife and I put into every month. For years the car savings was for repairing old cars and replacing old used cars with another old used car with never making a car payment. Now that EV's have come down some and increased in efficiency, and with the solar working out well enough the first year, I'm doing solar + EV to give my budget a hedge against energy inflation as I soon go into retirement. Ramsey would accuse me of being too much of what he calls a "math nerd with too many spreadsheets". LOL
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