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re: A quarter of Americans have no retirement savings. Zero.
Posted on 5/27/26 at 4:42 pm to Slippy
Posted on 5/27/26 at 4:42 pm to Slippy
quote:These numbers are based on surveys, which in turn are highly biased based on questioning and targets.
4.7 percent of all Americans have retirement savings of at least $1 million, and that includes people already retired.
E.g., Juxtapose the 4.7% contention with that which, according to the Federal Reserve's 2022 survey, insists nearly 20% of US households are worth at least $1 Million.
3
Posted on 5/27/26 at 4:44 pm to Saintsisit
That's awesome. My company gives free health care to the employee, but once you retire you are own your own.
Posted on 5/27/26 at 4:47 pm to TheHarahanian
quote:
It’s going to be the sole income for most.
It’s a Ponzi scheme that will be insolvent and won’t exist or at best at a significantly reduced amount than in its current form. It’s not sustainable.
Posted on 5/27/26 at 4:51 pm to UptownJoeBrown
It sounds like everyone posting in this thread is financially prudent and saving for later in life. Would anyone financially support a friend or family member who doesn’t save but lives their best life now? I’m talking taking trips, cruising, eating out, driving expensive vehicles and living a life they can’t afford. What happens when they call you up in 25 years around retirement knowing you have money and they don’t?
Posted on 5/27/26 at 4:51 pm to JohnnyKilroy
quote:Yes, but it's always been a part of the deal with IRAs. Stealing is a different proposition.
They already do with RMDs and taxing withdrawals (not just gains) at ordinary income rates.
Posted on 5/27/26 at 4:57 pm to Major Dutch Schaefer
quote:
They think Social Security is their retirement.
To be fair, it should be. Paying in over the course of a lifetime leads you to believe as much. Unfortunately we have to plan for it to not be around when I am retirement age.
Posted on 5/27/26 at 4:58 pm to AUIH1
quote:
You start investing ASAP in your 20”s or earlier. Sure, it’s difficult and there are times that extra 5-12% would look nice
8% of 60k a year isn't painful at all. 8% of low six figures ain't bad either as long as your wife doesn't know about it.
Posted on 5/27/26 at 4:58 pm to JohnnyKilroy
quote:
People say a lot of things. I'd like to see Mamdani try.
It's not the politician that claimed he would do that that worries me... it's the growing number of morons that thinks it's a great idea.
Posted on 5/27/26 at 5:04 pm to Slippy
quote:
retirement savings
Scam perpetrated by “big banking”.
Not today Wall Street, not today!
Posted on 5/27/26 at 5:05 pm to Slippy
My brother is one of them. He’s two years older than I am and staring 60 in the eye. He drives a trunk and makes decent money, six figures in fact.
But not a dime put into a retirement account. Boggles my mind.
But not a dime put into a retirement account. Boggles my mind.
Posted on 5/27/26 at 5:06 pm to Slippy
Tough shite
Posted on 5/27/26 at 5:26 pm to Slippy
Spend less than you earn. Start young. It isn't hard to do.
Posted on 5/27/26 at 6:04 pm to nola tiger lsu
quote:
What is all this conspiracy raiding mentioned in this thread
Just 100 years of watching democrats come for money wherever they can.
Posted on 5/27/26 at 6:09 pm to Slippy
quote:
4.7 percent of all Americans have retirement savings of at least $1 million,
Posted on 5/27/26 at 6:10 pm to WG_Dawg
As long as they can pay their property taxes, they’ll prob be ok.
Posted on 5/27/26 at 6:16 pm to HailHailtoMichigan!
quote:
This board loves to blame boomers
FIFY
My parents are boomers and they will leave quite a hefty sum me and my siblings. They also helped me with my house, but I learned this week that can also be a bad thing. My nest egg is not huge right now, but it’s growing.
Posted on 5/27/26 at 6:19 pm to Slippy
I've always said there should be a Nationally mandated retirement account. Put about $2500 into a broad stock market/bond fund that makes 6-8% a year when kids are born. Put about $60 out their paycheck every month. Can't take the annuity payments until they turn 65.
Posted on 5/27/26 at 6:23 pm to nola tiger lsu
Look at social security. You pay into it, along with Medicare for 45 years. You receive substantially less than you could have in the market. On top of that, you still have to pay Medicare premiums. Shouldn’t that already be covered, you know, because you paid into it for 45 years?
Considering that, maybe the Government raiding retirement plans doesn’t sound like such an extreme hyperbole. Add that the Government is 35+ Trillion in debt, Social Security running dry, and 50% of Americans don’t have adequate retirement savings, I wouldn’t put it past them coming after the “rich” (whatever they define that threshold at). I didn’t even mention that the Democrat ideology seems to trending to socialism.
Considering that, maybe the Government raiding retirement plans doesn’t sound like such an extreme hyperbole. Add that the Government is 35+ Trillion in debt, Social Security running dry, and 50% of Americans don’t have adequate retirement savings, I wouldn’t put it past them coming after the “rich” (whatever they define that threshold at). I didn’t even mention that the Democrat ideology seems to trending to socialism.
Posted on 5/27/26 at 6:23 pm to nola tiger lsu
Look at social security. You pay into it, along with Medicare for 45 years. You receive substantially less than you could have in the market. On top of that, you still have to pay Medicare premiums. Shouldn’t that already be covered, you know, because you paid into it for 45 years?
Considering that, maybe the Government raiding retirement plans doesn’t sound like such an extreme hyperbole. Add that the Government is 35+ Trillion in debt, Social Security running dry, and 50% of Americans don’t have adequate retirement savings, I wouldn’t put it past them coming after the “rich” (whatever they define that threshold at). I didn’t even mention that the Democrat ideology seems to trending to socialism.
Considering that, maybe the Government raiding retirement plans doesn’t sound like such an extreme hyperbole. Add that the Government is 35+ Trillion in debt, Social Security running dry, and 50% of Americans don’t have adequate retirement savings, I wouldn’t put it past them coming after the “rich” (whatever they define that threshold at). I didn’t even mention that the Democrat ideology seems to trending to socialism.
Posted on 5/27/26 at 6:26 pm to Sun God
Is this the thread where a bunch of 45-55 year olds say, “I hope I’m doing well. I’ve been maxing out my retirement accounts since 19 and have $2.7 million.” Yeah, we do this quarterly.
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