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Saving for retirement isn't an all of a sudden thing, it's a lifelong habit. To have nothing saved for themselves means they have neglected saving for decades - 40+ years!
My wife and I always meet with our Financial Planner together. Often her questions are better than mine because I am making assumptions regarding what ISN'T said. Most times my assumptions are correct, but sometimes not; hence, tbe value of her questions.
Well ... we all live and die with our choices. Are you a victim of those choices? or a benefactor. If your on top of the dirt, you can still change things.
most americans have little or no savings all their lives , so why should no retirement savings be a surprise
Many fast food and retail employers offer 401Ks with match. It's not that there aren't plenty of super easy ways to invest and save for retirement, you do not have to be some sort of genius or financial whiz to participate in those plans.
It's like never going to the dentist for years and years and then complaining that your teeth are falling out. Nobody LIKES to do it but they realize that they have to do it or suffer the consequences of their own neglect.
Many fast food and retail employers offer 401Ks with match. It's not that there aren't plenty of super easy ways to invest and save for retirement, you do not have to be some sort of genius or financial whiz to participate in those plans.
It's like never going to the dentist for years and years and then complaining that your teeth are falling out. Nobody LIKES to do it but they realize that they have to do it or suffer the consequences of their own neglect.
but you need the money to put in one .
especially here , lower level jobs are barely letting people live hand to mouth in the tri state area as it’s called.
especially here , lower level jobs are barely letting people live hand to mouth in the tri state area as it’s called.
i was on the 401k committee at work at one time .
almost no low level jobs participated
I lived in a high cost of living area when I was first starting out. I had a job that paid diddly squat and I was lucky enough to have older coworkers who convinced me that I had to start participating in my 401K at least up to the match. I'd say "But I can't afford it!" and they would say "You can not afford NOT to!".
And they were right. I am glad now that I listened to them.
I lived in a high cost of living area when I was first starting out. I had a job that paid diddly squat and I was lucky enough to have older coworkers who convinced me that I had to start participating in my 401K at least up to the match. I'd say "But I can't afford it!" and they would say "You can not afford NOT to!".
And they were right. I am glad now that I listened to them.
same . in my early years i had 3 gigs going on to make sure i always had something to invest .
I do appreciate the challenges faced by those with limited incomes. I was very fortunate. Started with nothing, worked my way through college, made some very good choices, etc. My complaint is not with those with financial challenges.
My complaint is with relatively high earners who live beyond their means, bigger and bigger houses, huge mortgages, etc. and then complain they can't retire. We all make choices, some better than others.
Starting now until 2030, 30.4 million Americans are expected to turn 65. Many are financially unprepared for retirement and will be relying solely upon SS.
As predicted by some years ago largest cohort of these "peak boomers" will be women, and they in good number (about 52%) lack sufficient financial resources for retirement.
It is all about personal perception.
A working class individual is accustomed to a lifestyle that their full-time career has allowed. They are commonly intimidated by the idea of living on 1/4 of that income.
But the 'problem' is entirely a matter of perception.
Once your home is paid for [no debt], and you quit working many of your expenses drop way down. Commuting is less, wardrobe expenses are less, and eating a meal while in mid-workshift stops completely.
I have been retired 23 years, it is not as difficult as people will imagine.
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