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1 in 3 Americans have less than $5,000 saved for retirement
Posted on 8/27/18 at 12:18 pm
Posted on 8/27/18 at 12:18 pm
How is this even possible?
LINK
quote:
The vast majority of Americans, 78 percent, say they're "extremely" or "somewhat" concerned about not having enough money for retirement, according to Northwestern Mutual's 2018 Planning & Progress Study.
And for good reason: A shocking 21 percent of Americans have nothing at all saved for the future, and another 10 percent have less than $5,000 tucked away, the study finds.
That means about a third of Americans have only a few thousand dollars, or less, put away for their golden years.
LINK
60
Posted on 8/27/18 at 12:19 pm to Darth_Vader
That’s not good
Posted on 8/27/18 at 12:19 pm to Darth_Vader
Because people are stupid
Posted on 8/27/18 at 12:20 pm to Darth_Vader
They can work for me when I retire!
Posted on 8/27/18 at 12:20 pm to Darth_Vader
quote:I guess they won't be retiring then.
That means about a third of Americans have only a few thousand dollars, or less, put away for their golden years.
Posted on 8/27/18 at 12:20 pm to Darth_Vader
I'm not gonna retire for like 20 years, why should I start saving now
Posted on 8/27/18 at 12:20 pm to Darth_Vader
I know people that live month to month.
They have houses, cars, plenty of dining, vacations, etc
They just spend all they make.
They have houses, cars, plenty of dining, vacations, etc
They just spend all they make.
Posted on 8/27/18 at 12:21 pm to Darth_Vader
quote:
A shocking 21 percent of Americans have nothing at all saved for the future, and another 10 percent have less than $5,000 tucked away, the study finds.
This isn't shocking. Dysfunctional people are taking over the country.
Posted on 8/27/18 at 12:21 pm to Darth_Vader
Thats gonna be fun for them
Posted on 8/27/18 at 12:21 pm to Darth_Vader
quote:probably because that statistic includes people in high school and college who really dont have 5k saved because THEY ARE IN COLLEGE.
1 in 3 Americans have less than $5,000 saved for retirement
How is this even possible?
quote:
The vast majority of Americans, 78 percent, say they're "extremely" or "somewhat" concerned about not having enough money for retirement, according to Northwestern Mutual's 2018 Planning & Progress Study.
And for good reason: A shocking 21 percent of Americans have nothing at all saved for the future, and another 10 percent have less than $5,000 tucked away, the study finds.
That means about a third of Americans have only a few thousand dollars, or less, put away for their golden years.
Posted on 8/27/18 at 12:22 pm to Sun God
quote:
I'm not gonna retire for like 20 years, why should I start saving now
If you plan on retiring in 20 years from now you should have started saving 20 years ago.
Posted on 8/27/18 at 12:22 pm to BatonrougeCajun
There’s no excuse for a third of the population to have such minimal savings. We need personal finance taught at the high school level at a minimum.
This post was edited on 8/27/18 at 12:25 pm
Posted on 8/27/18 at 12:23 pm to LuckyTiger
I think so many people would be better off if housing prices in decent neighborhoods were more affordable. The average US home price in 1990 was $79,000, now it’s well over $200,000. Factor in tuition, healthcare costs and other factors, and you have hardworking people making over 100k that are barely scraping by.
Posted on 8/27/18 at 12:23 pm to Darth_Vader
I don’t believe it..... idk why but I don’t. I have TERRRIBLE spending habits and don’t make a shitload and still have a decent sum tucked away at 25. A quarter of the population seems so high.
Posted on 8/27/18 at 12:23 pm to Sun God
quote:
Sun God
I hope this is a joke otherwise you are an idiot. 
Posted on 8/27/18 at 12:23 pm to Darth_Vader
I have $6,000!! saved
in the other 2/3rds
in the other 2/3rds
Posted on 8/27/18 at 12:23 pm to Darth_Vader
Hmm. So that's how all of those averagely paid people live like celebrities on instagram.
Posted on 8/27/18 at 12:23 pm to Darth_Vader
$50+ meals for 2. $100+ meals for family of 4.
A few times a month, that adds up fast.
Disney $5K.
$40K soccer mom crossovers.
A few times a month, that adds up fast.
Disney $5K.
$40K soccer mom crossovers.
Posted on 8/27/18 at 12:23 pm to Darth_Vader
quote:
1 in 3 Americans have less than $5,000 saved for retirement
A lot of them still have pensions. Some are actually too young to have retirement savings yet.
But yeah, generally speaking much of America isn't preparing for retirement. That's especially true of my generation.
This post was edited on 8/27/18 at 12:25 pm
Posted on 8/27/18 at 12:24 pm to Darth_Vader
The question is whether the right thing will happen, these people will get to work and live frivolously until the end of their days, or if the politicians will capitalize on this sizable voting block by pandering to them and making those of us who saved wisely pay for the others. I would tend to believe the latter.
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