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Started By
Message
re: A quarter of Americans have no retirement savings. Zero.
Posted on 5/27/26 at 9:30 pm to andwesway
Posted on 5/27/26 at 9:30 pm to andwesway
quote:Had a white collar professional who worked for me did exactly this; left his kids with a rental house full of cheap furniture, a pickup truck worth what he still owed on it and no funeral plan.
For some, the retirement plan is to enjoy shite while they're here and able to, and die not too long after actually retiring.
63 years old. Zero plan for tomorrow. Stupefying.
0
Posted on 5/27/26 at 9:46 pm to Slippy
quote:
What are these millions upon millions of people going to do to support themselves when they get old?
1. Get a job
2. Live with family
3. Die in miserable living conditions
We have a society where you can plan your future if you commit to education and hard work. For someone aged 65 to have no savings (or just $200k), they either didn’t plan, didn’t get an education, or didn’t work hard.
Posted on 5/27/26 at 9:59 pm to Deplorableinohio
Home equity doesn’t produce income to pay for living expenses.
Posted on 5/27/26 at 10:52 pm to Sun God
quote:
Must be nice
Honestly, I think the 401(k)/IRA is a better system. With a pension plan you eventually become a "slave" to the company because you can't "afford" to give up the pension to pursue better opportunities.
My first 5 years in the workforce I was legally only allowed to put $2,000 (IRA limits back then) a year towards retirement. My employer, Uncle Sam, was pension only so when I left service there wasn't a 401(K) account with company matching funds that I could take with me to my next job.
Posted on 5/27/26 at 10:56 pm to Hangover Haven
quote:
Well, I'm under that age group and my median retirement is much higher than those numbers, so that's good to know...
Took about three posts before a brag
Posted on 5/27/26 at 10:57 pm to Swamp Frog x
quote:
SS will never go belly up.
True….
But the Dems have already floated the concept of reduced or phase out benefits for the “rich” by means testing based on asset value and/or 401k and investments.
When faced with budgetary headwinds, don’t think for a second that they won’t try something to help their constituents at the expense of those who sacrificed and saved (aka the “rich”)
Posted on 5/27/26 at 11:07 pm to hillrosetiger
quote:
Home equity doesn’t produce income to pay for living expenses.
It can if you do a reverse mortgage. Not saying that's sound financial planning but beggars can't be chosers.
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