tst123Millions of older workers are nearing retirement with nothing saved
evatronicThis is the same demographic that overwhelmingly votes for Republicans. I am finding it very hard to empathize.
That said, perhaps this train wreck will serve as an object lesson for the next generation about creating and maintaining social safety nets.
Agreed, the boomers are finally suffering after all the cruelty they inflicted on us.
Let me find my champagne.
This isnt just boomers, it call into Gen X too.
Boomers: 1946 to 1964: 59 - 77
Gen X: 1966 and 1980: 43 - 57
"Only 1 in 10 low-income workers between the ages of 51 and 64 had any funds put away for retirement "
I’m young genx, I hope we’re not that stupid, we should have learned something what with Boomers trying to scam us literally every fucking day of our lives.
But if they haven’t, whoops, another point to Darwin.
What gets me riled up is I work w/ a bunch of GenX and some don’t even contribute to the 401k that is matched 6% (aka FREE MONEY). I just don’t get it, my leave money on the table. Go low risk if your not sure…
Do you know if they have the economy to actually “loose” 6% of their salary?
It might be “free money” in their retirement fund but they still have to afford to actually add anything to it.
He owns 2 houses and a plane, plus gets disability from the military (I have no issue w/ tat but an additional revenue stream)
Ah yes, I see your point. They really seem to be able to make different choices with their economy.
Its found money, it makes no sense. Even if I was struggling w/ my pay I would try to throw in 1-2% to get the matching.
Okey, so now we’re back in the hypothetical. So you’re saying that even if you were living paycheck to paycheck and and had to choose between saving and giving your kids food at the end of the month you would still choose to save?
Don’t have kids if you can’t afford them.
Whilst I agree with that sentiment, situations change and a person who was once well off can find themselves in a position where they have to make tough decisions between providing and saving.
Say that to the person living in a state without a functional sex-ed in school and/or abortion is banned.
Or as someone else commented, situations change. Believing that someone can make a plan that is guaranteed to not go awry at any point during the, at least, 18 years they have responsibility for a child is borderline delusional.
But you still didn’t answer the question: Would you save for your pension or feed your kids?