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OleWarSkuleAlum
Texas A&M Fan
Member since Dec 2013
5287 posts

42% of Americans are at risk of retiring broke
quote:

About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday.

The No. 1 reason most people cited for not stashing more away was because they didn't earn enough to save, followed by the fact that they were already struggling to pay bills, GoBankRates said.


LINK

They really need that F250 though...
This post was edited on 3/6 at 2:04 pm


tiggerthetooth
Houston Astros Fan
Big Momma's House
Member since Oct 2010
34917 posts

re: 42% of Americans are at risk of retiring broke
People care about appearances too much and they'll do whatever it takes to gain that image they want.


Shepherd88
Member since Dec 2013
2326 posts

re: 42% of Americans are at risk of retiring broke
quote:

The No. 1 reason most people cited for not stashing more away was because they didn't earn enough to save


If you ever read “The Millionaire Next Door” you will know that is absolutely a false statement.


ATLdawg25
Georgia Fan
Atlanta, GA
Member since Oct 2014
4368 posts
 Online 

re: 42% of Americans are at risk of retiring broke
quote:

The No. 1 reason most people cited for not stashing more away was because they didn't earn enough to save


Image: https://media.giphy.com/media/jeXiz1RAvzX44/giphy.gif


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191
dawg4lyfe
Atlanta Falcons Fan
Member since May 2012
11662 posts

re: 42% of Americans are at risk of retiring broke
Not me. I'll be a crypto millionaire






Hopefully


OleWarSkuleAlum
Texas A&M Fan
Member since Dec 2013
5287 posts

re: 42% of Americans are at risk of retiring broke
quote:

Not me. I'll be a crypto millionaire


Stack that VET!


dawg4lyfe
Atlanta Falcons Fan
Member since May 2012
11662 posts

re: 42% of Americans are at risk of retiring broke
I have some. Also have NEBL, LINK, ICX, and EVX. Looking to add some NAV and OMG with my next paycheck


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07
EA6B
Navy Fan
TX
Member since Dec 2012
8344 posts

re: 42% of Americans are at risk of retiring broke
quote:

People care about appearances too much and they'll do whatever it takes to gain that image they want.


I once worked a summer in a small town bank in the 70s. Most people then invested in bank CDs, and financed their houses and cars through the local bank so it was easy to get a pretty clear picture of someone's finances. I learned that a lot of the people in the town that were assumed to be well off because of where they lived and the cars they drove didn't really have any money. .


tiger perry
New Orleans Saints Fan
Member since Dec 2009
21310 posts
 Online 

re: 42% of Americans are at risk of retiring broke
People need to invest in their 401k or start a Roth IRA and keep up with that. Even putting away $100.00 a paycheck can add up


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220
leoj
Texas A&M Fan
Member since Nov 2010
2794 posts

re: 42% of Americans are at risk of retiring broke
People don’t want to hurt their heads and take an hour to come up with a budget and money/life goals.


tigeraddict
LSU Fan
Baton Rouge
Member since Mar 2007
6651 posts

re: 42% of Americans are at risk of retiring broke
The American Dream..... Spend it as fast (and some faster) then they make it.....

I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

Then i wonder if they are saving anything for retirement...

This article is just more proof that most must not be...


Brummy
LSU Fan
Baton Rouge, LA
Member since Oct 2009
2446 posts
 Online 

re: 42% of Americans are at risk of retiring broke
quote:

I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.

Then i wonder if they are saving anything for retirement


Same, and social media makes it worse, putting all those new shiny things out there for all to see and spurring the need for people to keep up with the Joneses.

What bothers me is that with the retirement crisis looming and the government's past history of bailing out people/corporations from their poor decisions, am I going to look back and think that I was the sucker for saving responsibly and not opting for instant gratification?


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410
PhiTiger1764
LSU Fan
Lurker since Aug 2003
Member since Oct 2009
11260 posts
 Online 

re: 42% of Americans are at risk of retiring broke
These articles are getting more frequent. One thing I never understand is why would they retire if they are broke? Wouldn’t they just keep working?

If the alternative is you lose your home, you need to keep working, right? You don’t just still retire because you are at retirement age.
This post was edited on 3/6 at 4:10 pm


EA6B
Navy Fan
TX
Member since Dec 2012
8344 posts

re: 42% of Americans are at risk of retiring broke
quote:

These articles are getting more frequent. One thing I never understand is why would they retire if they are broke? Wouldn’t they just keep working?


Often it is not your choice, a lot of the people I know that are retired from corporations would have preferred to keep working, but they were shown the door due to downsizing. Some had valuable skills that enable them to do consulting, but most did not, and it is very hard to find a job similar in pay when in your 60s. Also, your health can fail you leave you unable to do the job you have been doing for most of your life.


anc
Member since Nov 2012
10855 posts

re: 42% of Americans are at risk of retiring broke
quote:

I constantly ask myself how other people around me are always taking vacations, getting new vehicles, and have a bigger house, and always the newest tech device.


A friend of mine that confided in me that he had to put Christmas on credit cards told me last week he was taking off spring break and taking his family to Breckenridge.

I have no idea how they are doing it.


cave canem
Mississippi St. Fan
land o sand
Member since Oct 2012
8162 posts

re: 42% of Americans are at risk of retiring broke
quote:

Often it is not your choice, a lot of the people I know that are retired from corporations would have preferred to keep working, but they were shown the door due to downsizing. Some had valuable skills that enable them to do consulting, but most did not, and it is very hard to find a job similar in pay when in your 60s. Also, your health can fail you leave you unable to do the job you have been doing for most of your life.



Having to work into your 60's to cover basics due to necessity is the payment required for a lifetime of bad choices, nothing in life is free.


TigerDeBaiter
LSU Fan
Member since Dec 2010
7329 posts

re: 42% of Americans are at risk of retiring broke
quote:

42% of Americans are at risk of retiring broke

by OleWarSkuleAlum


Not me. I have 10,000 VEN


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13
anc
Member since Nov 2012
10855 posts

re: 42% of Americans are at risk of retiring broke
quote:

These articles are getting more frequent. One thing I never understand is why would they retire if they are broke? Wouldn’t they just keep working?

If the alternative is you lose your home, you need to keep working, right? You don’t just still retire because you are at retirement age.


A professor colleague of mine - him and I make up 2/3 of the conservatives at my school - opined that the crisis of the Baby Boomers not having the resources to retire + the Millennials not having the skillset needed due to extended adolescence will be what brings about socialism in the USA.

Pointed to Bernie and said Bernie is just the beginning. It won't be him. It will be much worse.


OU812
LSU Fan
Cheser, Virginia via West Monroe
Member since Apr 2004
9924 posts

re: 42% of Americans are at risk of retiring broke
quote:

A professor colleague of mine - him and I make up 2/3 of the conservatives at my school - opined that the crisis of the Baby Boomers not having the resources to retire + the Millennials not having the skillset needed due to extended adolescence will be what brings about socialism in the USA.


Us Gen Xers will keep it going for a couple of more decades, but after we are done?


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30
Chuker
Tennessee Tech Fan
Cum & Joke Mines of Mars
Member since Nov 2015
5312 posts

re: 42% of Americans are at risk of retiring broke
quote:

take an hour to come up with a budget and money/life goals.





yeah that usually takes a bit more than an hour



But I get what you're saying


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