Too Many Americans Will Never Be Able to Retire

[Knowledge]

Another fukked up thing is that the system try to keep you a slave to debt. Credit is power but in order to maintain a high credit score you have to have debt on file. Tell me why I just paid off a vehicle and my shyt dropped 30 points. Their reason is that I "need" to have some type of loan on my credit....

So all these underpaid people need to have debit in order to have good credit to get by in some cases (mortgage and auto loan rates, apartments look at your credit score, good jobs pull a credit check, etc)

 

[Towlie]

Everyone tells me buying a single family home is an L

Never an L to own something, or at least working towards it.

We just got an appraisal because we're refinancing

Bought my house 2 years ago and the appraisal came back 40k higher than what we bought it for. In 2 years

 

[Eastside Get The Money]

Social security all but gone but your president just spent $2 trilli in a dikk measuring military act

 

[Kyle C. Barker]

If You move there, would you have a toilet working? Running clean water in the house? Freedom of speech?

Not to mention good hospitals.

 

[3rdWorld]

In the richest most productive nation on Earth..there is no excuse.

 

[CrimsonTider]

$100 A Month In A Roth 401k Till Retirement Age Will Take Care Of You The Rest Of Your Life But Short Sighted Losers Would Rather Spend That $100 On Take Out, $5 Coffees And Bullshyt, God Forbid They Visually See A Check $100 Short And Know They’re Not Getting Something Out Of It Right Away, If You Cant Retire Blame Yourself

100 month in a Roth IRA from 24 to 65 is will be about $295,000

but this ignores the reality of medical bills bankrupting most of America, layoffs and wages being stagnant

a $5 coffee isn’t preventing anyone from retiring.

Also most Americans need that $100 every month to live

 

[UpAndComing]

Bu bu bu bu gaining Economic power for Black people doesn't matter

 

[Wild self]

If Social Security Is Your Retirement Plan Then YES You My Friend Are fukked

But If You Have Half A Brain And A 401k That You Actually Contribute To You’ll Be Ok

Have A Plan, Own Your Property, Fund Your 401, Invest In Yourself

If You Think You’re Gonna Work Your shytty Little 30k A Year Job Your Whole Life Then Be Taken Care Of By Social Security Then Just Die Now Cause You’re In Trouble

In that case, those people working in those "shytty" jobs might as well overthrow the corporatist government and execute the people in charge?

You never studed the French Revolution

 

[neph27]

That's why I'm a big fan of passive income. Renting out a house, buying & holding stocks, etc. All that saving and 401k is some old school shyt. I ain't trying to depend on some company for retirement

stocks go into a 401k breh

 

[Astroslik]

A 9 to 5 in STEM wont be enough. And even then, someone can kill you or rob you blind if enough people starve to death.

People should have multiple sources of income. And if that’s the case so be it. I have guns also


You may be watching too much tv breh. shyt ain’t going to be like the grudge.

 

[Astroslik]

If Social Security Is Your Retirement Plan Then YES You My Friend Are fukked

But If You Have Half A Brain And A 401k That You Actually Contribute To You’ll Be Ok

Have A Plan, Own Your Property, Fund Your 401, Invest In Yourself

If You Think You’re Gonna Work Your shytty Little 30k A Year Job Your Whole Life Then Be Taken Care Of By Social Security Then Just Die Now Cause You’re In Trouble

I hate to break it to you, but 401k’s may not exist 20-30 years from now.

 

[R.E.N. Spells Ren]

100 month in a Roth IRA from 24 to 65 is will be about $295,000

but this ignores the reality of medical bills bankrupting most of America, layoffs and wages being stagnant

a $5 coffee isn’t preventing anyone from retiring.

Also most Americans need that $100 every month to live

You’re right that $100 a month won’t leave you with enough to retire; that’s because you should be saving more.

Retirement savings shouldn’t be looked at as $x/month, need to look at it as x% of your earnings. Cuz $300k in retirement won’t be enough for me, but it may be enough for someone who’s used to living below the poverty line.

People should target 10%. Most companies match your contribution to some degree, so if they’re matching half of your contributions, that would get you enough in your 401k at 65 (starting from 0 at 24, with an ARR of 7%) to live for another 30 years at 96% of your salary. (Using this calculator: 401k Calculator | Interest.com)


Despite what they tell you or what they believe, most people would survive if they were forced to take a 10% pay cut. They’d have to make some lifestyle changes but their world wouldn’t collapse.

 

[R.E.N. Spells Ren]

I hate to break it to you, but 401k’s may not exist 20-30 years from now.

How you figure?

 

[neph27]

People really need to get up on compound interest and financial literacy. You’re in a 10 year bull run. The stock market has been free money for a decade. What were you doing? What are you going to do about it?

take some initiative

 

[Originalman]

I’ll be fine

union benefits, gov pension

CTA reppin....them chicago unions...


Uncle just retired after being a bus driver for 30 years with the CTA. Pension check so fat dude just takes vacations traveling all around the country....