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.
dezmdSeveral 401k providers I had before going the self employment route offerred loans secured by the 401k blanace for home purchasing and other uses, and at the end of the day, if you end up in an emergency financial crunch can always cash out the 401k, counts as income that you pay on that years income tax plus 10% irs early withdrawal penalty (amounts may have changed since I last looked).