Too Many Americans Will Never Be Able to Retire

[Noriega]

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.

Mfs find a way to pay a $200-$500 car note but retirement contributions is too outta budget

Foh

 

[LeVraiPapi]

I am very grateful for my position now. About drop 18k to pay off my debts. Then I will have just my mortgage to pay off and student loans which will be consolidated once my credit shoots to 820+ as predicted. Also my business thriving and adding more products monthly. Then I have the stocks cooking. Goal is to make 1 to 5k daily at least trading.

I talked to my cuz who does retirement plans and I am taking 3 plans. 1 for 5 years, 1 for 10 and 1 for 20 years.

The 5 year plan is 875k, the 10 years is 4 mil and the 20 years is 10 to 16 mil. Thats if all goes as planned. In case of turmoil, we pull out and swallow the penalties.

Republicans and the rich people of this country have made the rules to keep people where they are. The country is moving towards smart money not educated and old money anymore. Find your ways to build wealth or get left behind.

 

[Afro]

AI and robots

They still need an Us vs Them, robotics will take over in a lot of places, but I bet that access to learn will be heavily secured and racial biased.

 

[Ya' Cousin Cleon]

nobody ever said that and you know it

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

 

[Ya' Cousin Cleon]

America isn't built like France

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

 

[⠝⠕⠏⠑]

I’ve got state retirement check coming from working in the k-12 school system for the last 12 years.
At the university, they give pension and retirement, and I have an IRA Roth.

I’m just gon be one of those professors at the university forever.

One of the oldest professors in the department is pushing 83. But these jokers are R I C H. So they don’t even need to work.

Me and the doc students be like so we can get ur jobs.

 

[⠝⠕⠏⠑]

We gotta address cancel culture before anything breh

that's the bigger issue, that income inequality stuff is a distraction

I will never understand how people are mentally bamboozled into supporting shyt that leads to income inequality.

 

[Barnett114]

I been saying this and gotten more negs than you can count

More negs than you can count?

6 negs in 6 months

That's nothing

 

[Barnett114]

landlords

Agree with the post but disagree with this

Most landlords are barely making it and are trying to keep up with property taxes, now realtor owned properties is a different story.

 

[Wild self]

America isn't built like France

You forgot about the Civil Rights,Movement and Workers Rights Movement....

 

[TLR Is Mental Poison]

Everyone tells me buying a single family home is an L

Are those people in the financial position you want to be at their age?

Also you mentioned unions and pensions. Unions are struggling to survive and pensions are having trouble meeting obligations. They are nice to have but it won't hurt you to save and plan like you might not have them.

 

[TLR Is Mental Poison]

You forgot about the Civil Rights,Movement and Workers Rights Movement....

People today aren't about that life. You take somebody's wifi away and they melt.

 

[cleanface coney]

If you still young and still out here getting yo shyt together BRASS KNUCKLES FINANCE should be the way of life

 

[Ya' Cousin Cleon]

and they also were different than France was in the CRM era also

this is France in 2020

https://www.thelocal.fr/20200115/ne...h-pension-strikes-set-to-continue-on-thursday

https://www.washingtonpost.com/worl...f33f34-3644-11ea-a1ff-c48c1d59a4a1_story.html

I would love to one day wake up and see the above be a common occurrence in regards to income inequality

but we're no where near there yet

we can be, but it'll take it time

You forgot about the Civil Rights,Movement and Workers Rights Movement....

 

[MJ Truth]

Sooo, are we going to admit that the way the future is looking like, seems pretty hot damn depressing.

It’s shaping up to be pretty bleak for most Americans. And that’s even when you do everything right, like save.

Every time I read a news article with predictions about the future it’s almost always depressing. I’m starting to see what @Wild self is predicting about an upcoming revolt.

What period of American history has NOT been depressing for Black people though?

Maybe from a CAC perspective this shyt is gonna be ultra depressing though.