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Started By
Message
re: The typical U.S. worker has $955 saved for retirement, report finds
Posted on 2/6/26 at 6:37 pm to soccerfüt
Posted on 2/6/26 at 6:37 pm to soccerfüt
quote:
I’m coming up on that but it ain’t worth bustin’ a rib over.
It’s just a round number and in reality, nobody cares.
Not flaming you Darth, just throwing it out there for your consideration: time is the finite resource AFTER you retire.
If you go at 39 years, you get that BEST first year of YOUR OWN life.
(My dad died at age 63 from Cancer after working in management for Fortune 500 Corporations for his whole career. Non-smoker, didn’t drink, not a fatty. I learned then that no retirement plans are guaranteed)
Oh, you’re very right. 40 is simply a goal I’ve set for myself. An I’ll keep working toward it as long as I have the health and desire to do so. I really do enjoy my job. But if that changes, I’ll have no problem riding off into the sunset.
0
Posted on 2/6/26 at 6:41 pm to nealnan8
quote:
The crisis that most people don't talk about is the elderly crisis. The average American has very little savings yet is living longer. Added to this problem is that Social Security will be insolvent anywhere between 10-15 years, and you have a coming storm.
Take money away from able bodied welfare recipients and put it in the social security pool.
Posted on 2/6/26 at 6:55 pm to RLDSC FAN
Hey, i'm above average at something!
Also, that is actually sad.
Also, that is actually sad.
Posted on 2/6/26 at 7:05 pm to RLDSC FAN
I’m not the best at saving, but do what I can. Dude that sits beside me is literally saving nothing. He’s mid forties and has ZERO in a 401k or savings account. Not sure how he sleeps at night.
Posted on 2/6/26 at 7:15 pm to RLDSC FAN
What if you are land rich but cash poor?
Posted on 2/6/26 at 7:35 pm to RLDSC FAN
quote:
The average American worker has less than $1,000 saved for retirement
False. Elon Musk has enough saved for retirement to make the average almost $4,000, and that is if every other American worker has saved $0.
Posted on 2/6/26 at 7:38 pm to RLDSC FAN
quote:
How much does the OT have in their bank accounts?
Half of what I used to have.
She had a better lawyer.
Posted on 2/6/26 at 7:42 pm to RLDSC FAN
Don''t forget that many of us will end up in assisted living. That can be 100K a year in a decent one. So yeah, save your money and make a plan.
Posted on 2/6/26 at 10:17 pm to KLSU
“What happens to all the money the government forced me to contribute ?”
The money that workers pay into S.S. goes to pay benefits to those receiving SS.
When it first started there was about 40 paying in to 1 drawing benefits.That ratio has been dropping over the years,now approx 2.8:1.For a longtime there was more coming in than what was paid out.Excess money the government spent and issued IOU’s(so called trust fund)..
There is no “lock box”.
The IOU’s will be depleted approx. 2033,if nothing is done they’re saying benefits will have to be cut.I’ll be surprised if the whole frickin thing doesn’t collapse.
It’s just a big Ponzi scheme.
The money that workers pay into S.S. goes to pay benefits to those receiving SS.
When it first started there was about 40 paying in to 1 drawing benefits.That ratio has been dropping over the years,now approx 2.8:1.For a longtime there was more coming in than what was paid out.Excess money the government spent and issued IOU’s(so called trust fund)..
There is no “lock box”.
The IOU’s will be depleted approx. 2033,if nothing is done they’re saying benefits will have to be cut.I’ll be surprised if the whole frickin thing doesn’t collapse.
It’s just a big Ponzi scheme.
Posted on 2/6/26 at 10:41 pm to SulphursFinest
quote:
Plant baws get that in a week
And they spend it in a day.
Posted on 2/6/26 at 10:43 pm to SpaceCamp
How old were they when they retired?
Whats amazing is mofos were retiring at like 50-55 or if military damn near retired at like 39 lol
Whats amazing is mofos were retiring at like 50-55 or if military damn near retired at like 39 lol
Posted on 2/6/26 at 10:45 pm to Aubie Spr96
He sleeps great bc your accounts are his safety net. Anyone who does the right thing in this country gets taxed and penalized to death for it
Posted on 2/6/26 at 10:48 pm to RLDSC FAN
while we both have 401(k) plans, our real retirement plan is the sale of our pharmacies, later on...
we have about another 9-10 years of paying off the note for buying the pharmacies, then i hope to get a good 5-10 years off straight profit (no note), then sell them when we decide to retire....
only thing is, we may end up selling our percentage stake to my daughter, who is, as of right now, saying she wants to be a pharmacist... but she's 13, so quite a few years before/if that happens...
we have about another 9-10 years of paying off the note for buying the pharmacies, then i hope to get a good 5-10 years off straight profit (no note), then sell them when we decide to retire....
only thing is, we may end up selling our percentage stake to my daughter, who is, as of right now, saying she wants to be a pharmacist... but she's 13, so quite a few years before/if that happens...
Posted on 2/6/26 at 11:08 pm to LemmyLives
Damn boomers just get thousands of dollars in social security a month to do whatever they want and still they bitch.
Posted on 2/6/26 at 11:08 pm to RLDSC FAN
quote:
The paltry level of retirement savings may also help explain rising poverty among older Americans. The share of seniors living in poverty climbed to 15% in 2024, up from 14% a year earlier and the highest rate among all age groups, Census data shows.
More outstanding work from the boomers…
Posted on 2/6/26 at 11:18 pm to Dadren
quote:
quote:
Median savings for all employed adults between the ages of 21 and 64 amounted to $955, the nonpartisan think tank found, tapping data from the U.S. Census Bureau's Survey of Income and Program Participation.
For workers who do have retirement savings, the median balance stands at $40,000, the group found
Most important point. The fact that this includes everyone 21 and up including 23 year old door dashers and uber drivers makes this article irrelevant rage bait
Posted on 2/6/26 at 11:26 pm to Clint Torres
quote:
That’s just about the max allowable for 401k on bi-weekly pay
The key is maxing a Roth IRA until you earn yourself out of it.
Posted on 2/6/26 at 11:27 pm to T1gerNate
“still they bitch”
I’m not bitching.
I’m not bitching.
Posted on 2/6/26 at 11:28 pm to weagle1999
quote:
A person also should not wait until he is 65 to finally start doing things he wants to do because he wouldn’t spend any money when he was younger.
A huge part of the problem is this line of thinking that you can either save or enjoy your youth.
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