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

They won’t retire broke. They will die broke

quote:

---

Having to work into your 60's

---

Color me confused, but most people do this.

quote:

---

to cover basics due to necessity

---

If you bought a house in your 30's, this is totally possible. Hopefully most people are able to pay off their mortgage early, but it's not the norm.

quote:

---

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

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

---

People don't save. I told the wife before we got married, "You will not get everything you want right away." We are taking incremental steps to save for retirement. We max 1 and will probably start maxing 2 by summer. Some of you might be true ballers but we are confident if we do that on top of our pensions, we will have everything we want/need 30 years from now at retirement.

The retirement age has also broadened. It's no longer 58. I find it'd pushing 70 for many people.

quote:

---

I'm literally planning on being dead by then. party hardy

---

Said like a single person with no kids.

I get it. I said the same thing.

I'll still probably be dead but you need to prepare for your spouse and children. You may not have generational wealth by the point your're dead, but you can start with having building blocks for your family.

I know a few people I suspect are millionaires and most had a decent start from their parents being fairly successful or saving well to provide them with extended opportunities others may not have.

As a friend of mine told me some people are comfortable with debt. I am not. House note and no car notes -- we own five.

Now business debt -- in for nearly a million but the loan is always paid after harvest. Husband is a farmer and I work part time.

I'm so not worried about appearances as far as whatnhe have/don't have. Seriously.

My dtr asked me something about buying myself an expensive purse -- I told her I could pay cash for several of that ones I liked at that moment but that I didn't care about those things. I told her I could buy for her everything that her friends have and
more but that's not how we operate.

We have everything we need -- some of what we want -- and reminded her she will never have everything not because we can't but we choose not to -- and we save for other things like retirement and college. It's all about priorities and everyone's can be different.

(no message)

Somewhere, some lame politician is dreaming up an entitlement to give to people too lazy and ignorant to save up for their old age. Many votes will come to this politician, much like millennials want the taxpayer to absorb their school loans.

How could you retire if you are broke?

Also, this doesn't surprise me at all.

quote:

---

I assume they're pulling in ~$6500/month after taxes and insurance.

---

nah, prob more like $5300ish if they are saving/investing 10%