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Golfer
LSU Fan
Member since Nov 2005
70648 posts

re: 42% of Americans are at risk of retiring broke
LOL if someone put ~$200 in the S&P in 1980...and didn't do shite with it, or make additional contributions. They'd have that $10,000.

Hell. $5/mo from 1980 to today would be over $25k
This post was edited on 3/6 at 10:30 pm


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crazycubes
Member since Jan 2016
4223 posts

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

Pointed to Bernie and said Bernie is just the beginning. It won't be him. It will be much worse
thank god for the 2nd amendment


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45
Gevans17
LSU Fan
Member since Dec 2007
870 posts

re: 42% of Americans are at risk of retiring broke
They won’t retire broke. They will die broke


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70
Cdawg
Houston Astros Fan
TigerFred's Living Room
Member since Sep 2003
50366 posts
 Online 

re: 42% of Americans are at risk of retiring broke
maybe the article should be about how broke people are at 65 and 42% seems low.


S1C EM
Georgia Fan
Athens, GA
Member since Nov 2007
7335 posts

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


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10
tigers1956
LSU Fan
baton rouge
Member since Oct 2008
2113 posts

re: 42% of Americans are at risk of retiring broke
Most people that don't save just don't look to the future.... I worked for a company out of Texas where 46% of the people didn't even belong to 401K....the company has a pension but it's not the golden egg most people think that it is...people need to look out for themselves and SAVE AND QUIT BUYING SO MUCH STUFF THAT THEY CAN LIVE WITHOUT AND STILL BE HAPPY


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20
YoungManOldMan
George Washington Fan
Member since Dec 2017
1882 posts

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


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64
Tiguar
South Alabama Fan
Alabama
Member since Mar 2012
24704 posts

re: 42% of Americans are at risk of retiring broke
theres no guarantee youll even live to be 70, then your retirement was pointless.

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


YoungManOldMan
George Washington Fan
Member since Dec 2017
1882 posts

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


Tiguar
South Alabama Fan
Alabama
Member since Mar 2012
24704 posts

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

Said like a single person with no kids.


guilty as charged


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11
seawolf06
LSU Fan
Raleigh, NC
Member since Oct 2007
6728 posts

re: 42% of Americans are at risk of retiring broke
It doesn't help that they lose 15-35% of their earnings right out of their paycheck every month.


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40
tiger91
LSU Fan
South of Lafayette
Member since Nov 2005
18827 posts

re: 42% of Americans are at risk of retiring broke
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.
This post was edited on 3/7 at 3:36 pm


mule74
LSU Fan
Houston, TX
Member since Nov 2004
8466 posts

re: 42% of Americans are at risk of retiring broke
Most people have no idea how much money they should be living on. My sister in law and her husband are just prime examples of this. They live in West Virginia, they make over $100,000 combined, and they now have two house payments, two kids, two car payments, a boat, a camper, and are dead arse broke.
This post was edited on 3/8 at 2:55 pm


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40
lnomm34
USA Fan
Louisiana
Member since Oct 2009
10597 posts

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

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. . . .


This post was edited on 3/8 at 3:03 pm


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10
lostzeppelin
USA Fan
Member since Oct 2015
76 posts

re: 42% of Americans are at risk of retiring broke
I would have guessed the % to be a lot higher



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10
MadDoggyStyle
Mississippi St. Fan
Member since Feb 2012
3857 posts

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


lsurapper
Member since Oct 2017
271 posts

re: 42% of Americans are at risk of retiring broke
If children know that you will be giving them lots of money, they will never strive for more!!


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31
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
55049 posts

re: 42% of Americans are at risk of retiring broke
How could you retire if you are broke?

Also, this doesn't surprise me at all.


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21
StringedInstruments
Auburn Fan
Member since Oct 2013
9676 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.


I wonder this as well.

My wife works with a lady who is always complaining about teacher salaries and talking about money issues. She and her husband are teachers and they have two kids in elementary school.

With their degrees and experience, they're making at least a combined $112k/year.

They live in a modest house with some land in a distant suburb of Birmingham. I assume they're pulling in ~$6500/month after taxes and insurance. What the hell could they be struggling with unless they're just spending all of their money on extraneous toys and experiences?
This post was edited on 3/9 at 7:18 am


cuyahoga tiger
LSU Fan
NE Ohio via Tangipahoa
Member since Nov 2011
4021 posts

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

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


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


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