Posted on 03/19/2014 4:12:09 AM PDT by Red in Blue PA
Good thing all their Social Security contributions have been safely put away in the government "lockbox".
/extreme sarc
Make that 74% or more --assuming the study was worth anything.
This topic (like most money topics) are long on feelings and short on facts --facts like the average American has a $quarter million net worth. Even after correcting for inflation that's more than three times what our grandparents had 50 years ago. While the federal government may be having a debt problem, the American people know full well how to live within their means. FDIC records show that more than 98% of all consumer loans are being paid back in full.
We're fine, it's the USAToday that's worthless.
Ah, but now we have the “progressive revised edition” of the Ant and the Grasshopper,
where the Grasshopper complains about how unfair it is that he doesn’t have food for the winter,
goes to the media and Jesse Jackhopper and accuses the ants of “anti-greenism” and demands that they give up half their stores to “needy” grasshoppers due to past discrimination.
Very True! And applicable to a whole lot more that we see in society today than just savings. There is a group of people who absolutely desire to impose their will on others (and make the others pay for the privilege). We call them liberals, although there are number of so-called conservatives who fall into this mold too. These people gyrate to government jobs
Then there are the anti-gunners: They can't be bargained with. They can't be reasoned with. They don't feel pity, or remorse, or fear (What do they have to fear? They aren't losing anything if they fail to pass their tyrannical laws.) And they absolutely will not stop, ever, until we are disarmed, we are dead - killed by their beloved police "resisting arrest", or they are dead.
To borrow from Captain Jack Spirko -
we need to be fire ants. Build where we want, what we want, regardless of what someone who thinks they own the place thinks or “allows”. When they come to disturb us, we swarm all over them and “LIGHT ‘EM UP”.
“I’ve all but given up on retirement unless I win the lottery.”
Nonsense. At 27 you have plenty of time to save toward retirement. I saw some calculations that if you save $5000/yr for 10 years and then stop contributing but leave it invested you will have over 500,000 when you retire. Obviously if you keep contributing you will have much more. Put away what you can, make it a priority and live frugally and you will do fine.
I speak from experience. I started saving for retirement at 31 putting away 15% of my salary every year. I will be taking early retirement in 2 weeks and should have no problem living comfortably and then some.
“Then there are the anti-gunners: They can’t be bargained with. They can’t be reasoned with. They don’t feel pity, or remorse, or fear..”
Thank you Guinan
I’d love to live so close to the ocean!
Except during hurricane season!
Luck has nothing to do with it. I have money set aside for retirement in both 401k and pension plans. I would have loved to buy more toys with the $ we have contributed over the years, but chose to be responsible instead. I suppose this was stupid and likely the government will find a way to take what I have saved and give it to those who bought toys instead.....
Dear Mr. Spook:
A review of our records indicates that you are a military retiree, with a monthly, gross pension of $$$$. We have also determined that you have $$$$$$ in savings and investments, and will receive a state pension of $$$$ per month upon final retirement.
Because you have obviously planned for your future, it is necessary to reduce your Social Security benefits by $$$ per month at age 66, or $$$$ at the age of 70. This will ensure a more fair distribution of benefits to all eligible recipients.”
You could also help the less fortunate by dying before you reach full retirement age. Check with your Obamacare provider for various euthanasiaoptions. Thank you for paying taxes for the past XX years. Now kindly get out of the way so we can transfer your wealth to someone more diverse and more deserving. Sincerely, Hillary Clinton President" Don't laugh...it's coming.
I’ll be working until I die, most likely. My parents raised me pretty well, & taught me many great things, but missing was the learning of financial responsibility, budgeting, and planning. These topics were not ever really covered - Please understand that I am in NO way blaming them for my lack of planning - I just wish it had been a topic more discussed.
I remember opening my first savings account - but never the lessons on why it was so important to save & how to invest. If I had kids, I would incorporate financial responsibility into their education.
I have planned poorly & had unexpected things happen (husband didn’t work for 4 years due to 2 bad shoulder surgeries) and I’m so far behind it would take a miracle to catch up - But its my fault, no one elses & I’ll do what I can from here on out & hopefully be a little better for it.
I had only a little toward retirement at 48 and had to give it all up.
16 years later after hard work, I can say I am ahead of where I thought I would be by a long shot.
Absolutely true. There are many dichotomous categories that you can apply to people one being "ants and grasshoppers" And, as another poster pointed out earlier, the ant and the grasshopper tale has been around at least since aesop in the 6th century BC.
EEW.
I wish I had somebody that cared that much for my future welfare when I was 24.
You don’t have to work that many more years do you?
It’s not the amount of money I’m worried about; it’s what the government will be doing in those thirty plus years.
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