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Started By
Message
A quarter of Americans have no retirement savings. Zero.
Posted on 5/27/26 at 1:03 pm
Posted on 5/27/26 at 1:03 pm
The median amount of retirement savings across all age groups is $87,000.
The median for folks aged 65 to 74 is $200,000. Those are your boomers.
4.7 percent of all Americans have retirement savings of at least $1 million, and that includes people already retired.
So I guess the question is.... What are these millions upon millions of people going to do to support themselves when they get old? What happens if social security goes belly up?
I'm more interested in the politics of this than the economics. Seems like we could be fricked on both fronts.
The median for folks aged 65 to 74 is $200,000. Those are your boomers.
4.7 percent of all Americans have retirement savings of at least $1 million, and that includes people already retired.
So I guess the question is.... What are these millions upon millions of people going to do to support themselves when they get old? What happens if social security goes belly up?
I'm more interested in the politics of this than the economics. Seems like we could be fricked on both fronts.
29
Posted on 5/27/26 at 1:04 pm to Slippy
quote:
The median for folks aged 65 to 74 is $200,000.
This is shocking to me. These people have been paying into retirement for 50 years and bought a house for a soda and a pack of envelopes and this is all they have to show for it?
Posted on 5/27/26 at 1:05 pm to Slippy
quote:
The median for folks aged 65 to 74 is $200,000. Those are your boomers.
Well, I'm under that age group and my median retirement is much higher than those numbers, so that's good to know...
Posted on 5/27/26 at 1:06 pm to Slippy
quote:
What are these millions upon millions of people going to do to support themselves when they get old?
They think Social Security is their retirement.
Posted on 5/27/26 at 1:06 pm to Slippy
This board loves to blame the system, but at some point you have to acknowledge that individuals are at least partly at fault, assuming there wasnt a catastrophic event in their life that wiped out all their savings.
It’s not hard to assemble at least a little nest egg.
It’s not hard to assemble at least a little nest egg.
Posted on 5/27/26 at 1:07 pm to Hangover Haven
I wonder how many own a house free and clear.
Posted on 5/27/26 at 1:08 pm to Slippy
That gives me nightmares just to read about it.
I've had inlaws who died penniless and struggled to just eat in old age.
I've had inlaws who died penniless and struggled to just eat in old age.
Posted on 5/27/26 at 1:08 pm to Slippy
Every time I think maybe I'm not doing enough I look at stuff like this and it puts it into perspective that I am doing fine
Posted on 5/27/26 at 1:08 pm to Hangover Haven
quote:
my median retirement
Your median retirement?
Posted on 5/27/26 at 1:09 pm to Fun Bunch
quote:
Every time I think maybe I'm not doing enough I look at stuff like this and it puts it into perspective that I am doing fine
Yeah man, same here...
Posted on 5/27/26 at 1:09 pm to WG_Dawg
quote:
This is shocking to me. These people have been paying into retirement for 50 years and bought a house for a soda and a pack of envelopes and this is all they have to show for it?
Jimmy Buffett tickets and timeshares in Florida aint cheap baw
Posted on 5/27/26 at 1:09 pm to Slippy
quote:
What are these millions upon millions of people going to do to support themselves when they get old?
Not pay their healthcare bills and die in debt
Posted on 5/27/26 at 1:11 pm to Slippy
quote:
So I guess the question is.... What are these millions upon millions of people going to do to support themselves when they get old?
They're going to vote democrat once the liberals get serious about raiding our 401K's and IRS's to redistribute the wealth. Obama and Biden have already floated the idea.
It won't be long.
Posted on 5/27/26 at 1:11 pm to Slippy
quote:
4.7 percent of all Americans have retirement savings of at least $1 million, and that includes people already retired.
I don't think this is right. I think 4.7% is right for folks who have saved anything, but it doesn't count those with $0. For everyone, the number drops to something like 2.5%.
quote:
I'm more interested in the politics of this than the economics. Seems like we could be fricked on both fronts.
Isn't there a fable about a grasshopper and an ant?
Posted on 5/27/26 at 1:12 pm to Slippy
I would assume this includes the population of people that don’t work and get government hand outs? Or they considered retired already??
Posted on 5/27/26 at 1:12 pm to Winston Cup
quote:
A quarter of Americans have no retirement savings. Zero.
Posted on 5/27/26 at 1:03 pm
22% of Americans are under 18 years of age. So, I guess 25% of Americans not having any retirement saved is not that incredible.
Posted on 5/27/26 at 1:12 pm to WG_Dawg
Don’t confuse retirement savings with home equity.
Now do net assets.
Now do net assets.
Posted on 5/27/26 at 1:13 pm to Fun Bunch
quote:
Every time I think maybe I'm not doing enough I look at stuff like this and it puts it into perspective that I am doing fine
Yep
Posted on 5/27/26 at 1:14 pm to Slippy
If I knew what mean, median and average meant, I could understand this better
Posted on 5/27/26 at 1:14 pm to Slippy
quote:
What happens if social security goes belly up?
Being that my money was taken by the government for 45 years of my life, with the promise that I would have it. I think a lot of bad stuff might happen.
Be like BLM riots on Steriods.
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