Millions of Americans are approaching retirement age with no savings

[bnew]

I dont think you know how financially illiterate the average American is

Most Americans are a paycheck or two away from the streets

 

[Breh Obama]

fukk them boomers. This is all their fault anyway

 

[dr. pill biden]

euthanasia is the next frontier. society will start encouraging old people to kill themselves voluntarily…..or involuntarily

the non demonic option that i hope happens, capitalism will inevitably come up with a solution for this. as the population gets older, broker, singler, with fewer kids, there will be more old folks not homes but closer to prisons. two, three, four to a room. slop food, basically whatever a measly social security check from a bunch of people can cover

people gon be aight without a retirement at the end of the day. god’s eye is on the sparrow

 

[beenz]

And they are the generation that could buy homes for $50k and shyt…

shyt was real sweet when the average home cost less than people grossed in a year as a blue collar worker.

 

[beenz]

what about medical expenses, utility bills, car insurance, car maintenance costs, food, entertainment, home repairs etc?

property taxes too. still gotta pay them shyts after paying off the mortgage.

 

[Gloxina]

I got so many aunts and uncles in the same situation .

I'm just thankful moms was able to retire before 70 even though I gotta supplement her income.

Yea I think that’s where my mom is headed. I’ll have to supplement. But everyone else in my family was on top of things so some retired by 50, some are just consulting because why not run up a bag for a few days worth of work , etc.

 

[Conan]

You'd be surprised how many people bought into that and lost money over the years, investing in the wrong things.

Tangible resources is the best way to invest.....land/farmland (in the right areas), gold/silver, natural resources.

No, shut up.

Who invested into 401ks and lost money?

 

[BigMoneyGrip]

I got so many aunts and uncles in the same situation .

I'm just thankful moms was able to retire before 70 even though I gotta supplement her income.

Just be glad you are in a position to take care of moms... we only have one bro

 

[LebronsHairline]

what about medical expenses, utility bills, car insurance, car maintenance costs, food, entertainment, home repairs etc?

property taxes too. still gotta pay them shyts after paying off the mortgage.

That boy gone off that dogfood $1000 aint shyt

 

[Cloutius Maximus]

fukk them boomers. This is all their fault anyway

how is this black boomers fault?

 

[Mirin4rmfar]

lol not retiring in the U.S

 

[FishNGrits]

Yea our government is just failing us and I accepted most of my peers will be working till they die. Saving in this economic climate literally means going to work and going home. It’s a fcking boring life but I gotta do it to put some money away. Would love to go to concerts and travel but it’s just not an option atm

 

[desjardins]

At least a significant portion of that generation had pensions from government or union jobs
It's going to be even worse for our generation, might not even have social security by then and much fewer % of us held jobs with pensions
I hope yall taking the 401ks and other retirement options seriously

 

[Chrishaune]

Most of the world never had retirement savings

Exactly, this modern generation bought the lie they were told by financial leaders so that they could get their hands on their money and use it to retire themselves. Keeps people working at dead end jobs as well. They figure somebody has to do the work so they might as well lie.


It's best to find some type of way to be self employed. Find some service people need and fill it. That way you can always support your family and have something for them to get into as well later on.

 

[chineebai]

was looking at the social security website and calculating how much i would get when I retire and it's gonna be the maximum amount considering my contributions. And honestly I don't see how I can support myself with that shyt by the time I'm retired, not to mention the inflation.