Quote:
Originally Posted by billethkid
This article paints a not so rosy picture of the situation facing coming of age retirees:
Half of Americans will see their standard of living fall in retirement - MarketWatch
Whenever there is an opportunity to encourage folks still working to save more I do so. I don't even ask how much they have or want. Just point out that the average person facing retirement is not going to have enough egges in their basket to maintain the lifestyle they would like when they retire.
Some very interesting numbers in the article. Especially how many are currently retiring each day....also the precipitous drop in retirement benefits form companies down to almost nothing.
I am glad we came through life during the times that we did. The American dream was alive and doing well. It can still be but more younger folks need to understand they need to be taking actions now to enjoy the lifestyle we do.
They do understand.....they (just like us when we were their age) have other priorities. I feel fortunate that I woke up to the issue at age 50. |
Right on. but need not be so . Most of us have far more than we need and the excess could be the basis for a very comfortable retirement.
Most homes= way too big
Investment in electronics excessive
At least two cars - new every few years, and far bigger than needed.
3,4,5 tvs and unused cable add ons
Cigarettes and alcohol( at $8-10) per glass when eating out for the 4th or 5th time each week.
Rip off Gym memberships.
Giant popcorn and soda at movie ($15-20)
For most( but not all) there are adequate funds for a reasonable retirement.
We can't protect folks from their own excesses.
Give me time to put on my Kevlar!!!