It’s probably true for a few fortunate souls.
The rest of us will simpy either die before pension age or keep working into old age, again until death.
I hope to be part of the ones that die before it gets to mad max levels of insanity.
Hey maybe we will just suffer from illness in our final decades, instead!
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We’ll see how this year ends
Decades? Who can afford that much time?
or keep working into old age, again until death
If you invest 5% of every paycheck, you will have enough to retire on. This is quite achievable for the vast majority of individuals who want to achieve it. Compounding gains are a huge boon and is why investing in something like an index fund should be started as early as possible.
Nearly 70% of Americans are currently living paycheck to paycheck. How are they supposed to save up or invest? One medical emergency could wipe out all that imaginary savings too.
I know that on-average, those things tend to appreciate, but also yes, if it’s all tied up in stonks you’re still just one 2008 from “Oops, lost it all!”
Why is gambling the only way to secure a decent future? I even made a decent chunk of money during the last crypto peak when it was fun new tech and just before it seemed so supremely evil, but I cashed out and ran never to look back. The stress is insane, the concept is insane. I wouldn’t do it again. I got lucky and that’s it.
Meanwhile my family made all kinds of good retirement investments and practically lost it all when we had to let the house go back to the bank when 2008 hit.
if it’s all tied up in stonks you’re still just one 2008 from “Oops, lost it all!”
There is a reason I mentioned index funds, they don’t just ‘oops’ away as they are highly diversified. For example, the most commonly cited index is the S&P 500, which is up over 250% since 2007. The 2008 crisis didn’t just oops everything. Investing for retirement is all about the long term trends, and those trends are very in your favor if you are holding index funds over the long haul.
2008 from “Oops, lost it all!”
That’s now how it works over decades. Coca Cola Company didn’t magically lose a shitload of value in 2008, even if their stock was down. Sit tight and don’t even look at your funds. IGNORE THEM.
If anything, 2008 was a great time to pour it on with investments. Let the gamblers and stock market fiends try to chisel a few bucks. Sit. Tight.
That’s not correct, the median savings account is $8000
https://www.federalreserve.gov/econres/scfindex.htm
You’re not living paycheck to paycheck if you have $8000 saved, even if you spend your entire paycheck
Yeah, so that’s not 70%
Hmm yes living below the poverty line does indeed leave me with enough money to invest in a retirement for sure uh huh yupperino
Cries into wage garnishment papers from not being able to afford private student loan payments
11.5% are living in poverty
https://www.census.gov/library/publications/2023/demo/p60-280.html
Neat statistic. My dick is 2 inches at its hardest, since we are tossing stats with no context around.
That’s not a statistic, that’s an anecdote, just like people in poverty complaining about financial advice
My dick is now 1 inch, thanks a lot
5% seems achievable, looking from the outside, but we’ve gone through several decades of proving that it does not actually happen enough., when people are trying to afford their immediate lives
In this economy?!
The economy is actually some of the best ever we’ve had. Really good real wage earnings growth
Are you being ironic or just didn’t read the report saying it either decreased or didn’t change?
From February 2023 to February 2024, real average hourly earnings increased 1.4 percent, seasonally adjusted.
It didn’t change much from a month ago, but since 2019 we’ve made progress
https://home.treasury.gov/news/featured-stories/the-purchasing-power-of-american-households
Earnings up 2.8 percent since 2019
How does this purchasing power increase compare with rent increases and price of groceries and gas?
This is real earnings, which means it’s a 2.8% increase above the increase off those costs
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This is actually pretty nice then especially since the figures report the biggest increase occurs in the 25th percentile.
I am curious to see how this stacks up compared to historical periods
Lol inflation up 30%
This is real earnings, inflation could be 1000%
It’s the increase in earnings above inflation
Sure, buying power increased since 2019 and my uncle owns Nintendo
You can believe right wing propaganda on TikTok, or real data by government agencies
The choice is yours
Who did they poll for this? No one I know wants to live past 70 let alone to 100 and absolutely no one I know expects to retire EVER.
I don’t believe in an afterlife. I’ll take as many years as I can, even if they’re shitty years.
But yeah, I don’t expect to retire.
I used to think like that, but the older I get the more I’m starting to think otherwise.
I’m not super old yet but I’ve had a pretty eventful life and was probably a bit too hard on my physical form when I was younger and considered myself indestructible. Now I have back pain, knee issues, pulmonary fibrosis (scarred lungs from dusty environments), messed up right wrist, missing part of two fingers on my left hand, deteriorating eyesight etc etc.
I’m not wishing for death or anything, but there starts to be a point where you really don’t want to keep slowly getting worse to the point you can’t do what you love anymore and you’re just a burden to others. That becomes the time that you just want that last big sleep to finally get here.
Now if we could fix all these common ailments and keep our bodies like we were back in our twenties, that would be a different story…
I am 46 and I have always felt this way. And trust me, I have been through a lot of pain, both physical and mental, and am still in that pain. I have trigeminal neuralgia and I have a separate, almost certainly unrelated, condition that I’m going to the Mayo Clinic for at the end of this month.
I have felt 10 on the 1 to 10 pain scale multiple times. I have been so poor that I almost ended up homeless. And to top it off, I’m type II bipolar!
I’m not saying all of this for pity, I’m just saying that despite all of that, I want to live as long as possible. Why would I want to die when there are always new and amazing things to learn about?
Now, to be fair, I have also been suicidal in my life, but I realized almost too late that it wasn’t what I actually wanted to do. I think it required me to go there to figure out that if I could live as long as I chose to live, even if it was a thousand years, I would do it. Yes, I would want to die one day. But not until I wanted to.
I think (for me anyways) the worst ones are eyesight and mobility. Both my kids are in their thirties and I do as much as I can to help them and work on my oldest’s house and vehicles, but once those things go out on me I’ll be about ready for the end.
I understand that way of thinking. However, I think if that were me, I’d keep holding out hope for medical help for those conditions.
I think I would pass on shitty years seeing what mom went through. Of course seeing my friend die in his mid 50s was a suck fest also.
Who knows what time we have left all I know is spending most of it working feels like a colossal waste.
I don’t disagree with your assessment about it being a colossal waste to spend most of your life working. That’s the worst part.
HAHAHAHAHAHAHHHHHAAAAAAAAAA!!!
wtf is retirement?
Something we won’t get to do in order for boomers to get all the things.
Uh pass. Who the fuck can afford that? If I were going to live to 100, I’d have to work until I was about 90. And with climate change, I seriously doubt I want to be around in 60 years.
What is this, a poll answered by senior citizens??
I’d rather retire at 60 and live to 75 than retire at 70 and live to 100, assuming I’ll have the same amount of money to inherit for the next generation. After the age of 80, I’d be so old that I’d have no energy to do anything.
Man, I’m not even sure I want to live past 60.
Here’s all the data provided on the survey.
And here is Morning Consult. If it’s anything like the surveys I take regularly from a similar company, it’s meaningless junk that doesn’t really tell you much.
