Skip to comments.80 is the new 65 when it comes to retirement, survey says
Posted on 11/16/2011 7:45:49 PM PST by newzjunkey
When it comes to retirement, many middle class Americans said 80 is the new 65 and plan to delay retirement because of worries over money, according to a new survey.
Wells Fargo bank asked 1,500 Americans who earned between $25,000 and $99,999 and ranged in age from 20 into their 70s questions about retirement, savings and Social Security for its seventh annual retirement survey... On average, Americans have saved only seven percent of their desired retirement nest egg, with a median of $25,000 saved versus a median retirement goal of $350,000...
"We did find a bright spot among middle class Americans - more than three quarters do not want to retire with mortgage debt..."
(Excerpt) Read more at ca.news.yahoo.com ...
let me guess...retired govt worker with a nice fat pension?.....
That’s a great, inspiring post. Thank you.
Well, that is the plan, so far so good. I know plans go astray sometimes but as I said, so far so good.
There's a leap of faith involved, no matter how much money you have. I mulled it over for probably about two years before retiring. It's something that can't usually be undone and that's a bit scary.
Good luck to you. I wish you and your loved ones well.
Me, I'll be here... living on a sailboat (I hope):
“let me guess...retired govt worker with a nice fat pension?.....”
That’s funny. Retired HP engineer who had a stay at home disabled wife. Let me give you a hint... Only bought one new car in my life, and that was before I got married. Funny what saving will do for your net worth.
People from 20 to 70+ earning 25-100K have saved a median amount of $25,000 towards retirement?
That means exactly nothing.
Is that your daughter?
Life expectancy was 60 when Franklin Delano Rat-bastard forced SS upon the nation. That’s why the age of retirement was set at 62. The bastard played no different than Bugsy Siegel.
Wow, very nice! Where is that?
I don;t think there is retirement mentioned in the scriptures....it mentions widows and such but it doesn’t appear God established we should do so. Why don’t you share where God mentions retirement?
My brother has done likewise....though he has no intentions of retiring until he can’t work...he loves his job. But he too buys used vehicles and lives far less than his means could provide him. He enjoys saving his money and his wife is thrifty as well.
BTW I know a gal who has lived below the poverty level most of her life with no outside aid....not only is she surviving but she has no debt. She says she lives within her means and that is the secret to being independant and without debt.
I honestly don’t know how she does it when you hear so many complaining who are on the welfare rolls...here this gal works at her job daily...gets her paycheck at weeks end and somehow makes it work. Really quite amazing.
Hence the reason all these people say they have to work until they are 80.
That is the secret.
Do it, and one day you will wake up realizing you matched your (probably six figure, by then, income) before you got out of bed.
A distinction without a difference.
I`m counting on “The Rapture “ for my retirement.
Yes, I'd be interested in hearing that as well . . .