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.
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.
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
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.
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%
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
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
HAHAHAHAHAHAHHHHHAAAAAAAAAA!!!
wtf is retirement?
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.
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.
