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hegemony

Retirement? Four in 10 Americans Don't See It Ever Happening

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Posted (edited)

It's the same story. With pensions almost non-existent, low average salaries, high average living expenses, saving for retirement becomes impossible. Many people near retirement will be looking at an "active retirement" of collecting bottles and cans.

 

Then there's health insurance. I was reading a financial column who was answering an approximately 60+ year old person who lacked health insurance. The writer told them to work at Starbucks for their health insurance benefits. I'm unsure of the costs and how good, or bad, their health benefits are, but just go to a Starbucks. The job is a young person's job. You're on your feet all day working away taking orders, preparing coffee, cleaning, stocking, and so on. Not exactly a job for an older individual.

Edited by Burgerwars

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I used to think like that in my 20s and early 30s, but now the concept is completely foreign to me. I don't spend very much I don't need to, and don't increase my spending to correspond to income increases. I don't see anything wrong even with that $17.6k number, unless I still had to pay a mortgage by the time I'm ready to retire.

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So 6 in 10 have their sh1t together, or at least think they do.  That's higher than I would expect.  

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13 hours ago, cv91915 said:

So 6 in 10 have their sh1t together, or at least think they do.  That's higher than I would expect.  

Good point.

 

It's only the tiniest fraction of human existence that lifespans averaged over 35 years.

 

And retirement is a rather new concept in human existence.

 

Seems to me that those are really encouraging numbers. Perhaps not enough, but not bad either.

 

The good old days were never that good.

 

 

 

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What still amazes me is when you have people who are eligible for a 401(k) match from their employer and fail to take advantage of it.  I mean if you asked these same people if they would pick up a $100 bill on the ground if they saw it they would in a heartbeat, yet their employers are giving them potentially thousands of dollars and they are walking right by it.

 

 

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23 minutes ago, CTSoxFan said:

What still amazes me is when you have people who are eligible for a 401(k) match from their employer and fail to take advantage of it.  I mean if you asked these same people if they would pick up a $100 bill on the ground if they saw it they would in a heartbeat, yet their employers are giving them potentially thousands of dollars and they are walking right by it.

 

 

A friend of mine told me recently that she contributes to her 401(k) up to her company match.  

 

When I asked her why she didn't contribute to the pretax max, I just got a blank stare.

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22 minutes ago, cv91915 said:

A friend of mine told me recently that she contributes to her 401(k) up to her company match.  

 

When I asked her why she didn't contribute to the pretax max, I just got a blank stare.

Is it because she didn't know she could put in more, or because she can't afford to?  I mean putting away $19k if you're only making $40k/year can be a stretch for most.  Not doing it because you don't know the rules is another issue altogether. 

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Just out of curiosity, those 4 in 10 wouldn't be over there on myFUCO, would they?

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Rich getting richer with more opportunities while working class living by paychecks and are left out of prosperity. Some say poor are lazy and some say they are entitled. Take your pick but this is not getting any better...

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40 minutes ago, Krish said:

Rich getting richer with more opportunities while working class living by paychecks and are left out of prosperity. Some say poor are lazy and some say they are entitled. Take your pick but this is not getting any better...

 

Been this way for a million years.  No big deal.

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I am not aware of any economic system (current, past or proposed) where everyone ends up wealthy.

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Posted (edited)

I'm not rich, but I'm not struggling either. Even if I don't have as much as some, I realize the privilege of making more than 99.9% of the people in the world. I can do without the equal outcome of living on less than $5 per day like most people. That said, a rising tide lifts all boats. Over a billion people have been lifted out of extreme poverty in the past few decades. Never before have so many seen so much opportunity to improve their standing.

Edited by Shane1

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