Americans are not saving for retirements

[Anonymous No.8979158]

https://web.archive.org/web/20180419001117/http://philadelphia.cbslocal.com/2018/04/18/americans-retiring-broke-survey/

Are you saving for retirement? Are your friends? I'm 19 and I'm trying to convince my friends that if your aren't saving for college, save up for college anyways. I've convinced one, I've been helping her get her taxes, a written budget done. My girlfriend argued that she's too young for that. I genuinely consider this a red flag since I grew up poor and she didnt, even now, her parents are about to be bankrupt at 70.

[Anonymous No.8979169]

>An annual survey of how well Americans are preparing for retirement has found that a large number of people are at risk of leaving the workforce with barely anything saved up.

>According to personal finance websiteGoBankingRates.com, 42 percent of Americans polled said they have less than $10,000 saved for their eventual retirement. The 2018 poll of 1,000 people, ranging from millennials to baby boomers, found that nearly 14 percent of Americans have absolutely nothing saved for the future. Over 28 percent of the respondents claimed that they have under $10,000 put away for retirement.

>The future for millennials was particularly bleak, with nearly 60 percent of young Americans saying they have almost nothing set aside for their old age. The most common reasons people gave for the lack of savings included, “I don’t make enough money to save” and “I’m struggling to pay bills.”

[Anonymous No.8979195]

My parents are both in their mid 40s and routinely borrow from their parents just to get through the week.

[Anonymous No.8979209]

according to many economists saving in your 20s and 30s is dumb because you really need the money and it will be much easier to save later on when you have a higher/dual income

[Anonymous No.8979210]

>saving for retirement
>not living it up till you die in the great chinese-american war of 2027

[Anonymous No.8979225]

>>8979158

America is due to be rocked into a 2nd world nation in the next 20 years, 100% unsustainable geopolitical nightmare overdosed on steroids. while the populous riots over irrelevant social issues such as skin color.

[Anonymous No.8979256]

>>8979209
I figure that's extremely naive, since it primarily doesn't matter the income, what matters is the priority. You can save up 5 or 1,000 a month. The point is that you SAVE. People would rather have a "car" broke people speak for 'I think I can afford a car payment, if I don't lose my job.'

Maybe I'm being autistic and caring too much or too meddling, but I've had events be cancelled because friends couldn't afford it. But they can 'afford' a 2018 Ford explorer 450 lease making a little bit more than minimum wage.

People just don't want to face the truth I guess.

[Anonymous No.8979275]

>>8979158
nobody wants to live that long fag

[Anonymous No.8979278]

>>8979256

from a utilitarian perspective the $5 or $1000 is worth way, way more to a 19 year old than a 45 year old. the theory works as long as you actually follow through with it and do genuinely start saving when you're in your peak earning years.

[Anonymous No.8979325]

>>8979278
I'm sure you don't mean to argue, but if life was all theory, we'd have a perfect economy.

People don't do it because they don't *want* to. It's why they will stay broke. People need to condition themselves to save up.

>>8979195
What's up with that?

[Anonymous No.8979359]

>>8979195
Trickle down economics

[Anonymous No.8979371]

You might as well throw me on the same pile of bodies both my mother and father will end up in at this point.

[Anonymous No.8979423]

i guess there are perks to being a loser afterall

>live with parents so no rent
>no car, rides bus and the occasional uber
>saves 2k out of 2.2k per month working part time

[Anonymous No.8979424]

>>8979158
>I'm 19 and I'm trying to convince my friends that if your aren't saving for college, save up for college anyways
Lol. They don't save but they sure do vote.
They will just vote for you to pay for their retirement. We'll see a wealth tax in America within two decades.

[Anonymous No.8979444]

>>8979209
I've been saving 20% of my gross income for years and just turned 30, but I also make over 100k a year and have no debt, so there's that. Ive pretty much forgotten what it's like to live poor at this point.

[Anonymous No.8979471]

>>8979209
this is such kike logic

[Anonymous No.8979486]

>>8979195
So you can routinely borrow from your parents, when you are 40!

Reagan was right!

[Anonymous No.8979494]

>>8979158
The dollar will collapse before any millenial can retire, jews at the fed fucked up with their ponzi scheme and crushed people with debts.

[Anonymous No.8979511]

>>8979158
If im poor at 70 it means i didnt make it and might as well die.

Im not going to be saving a tiny fortune living a slightly shittier life in my prime just to live slightly better when im old and totally useless.
If im poor and getting old, a shotgun will be my retirement failsafe.

[Anonymous No.8979516]

>>8979209
Same logic that led to the 2008 housing crisis

[Anonymous No.8979782]

>>8979209
Holy shit you're retarded.

[Anonymous No.8979947]

>>8979158
>I'm 19 and I'm trying to convince my friends that if your aren't saving

and how many friends you have left Anon?

[Anonymous No.8980041]

>>8979209
Never ever heard any such thing, you're likely trolling
If anything, economics pedagogy tends to encourage people to think of savings and investments as soon as their teenage tears if not childhood, it's about relative quantities rather than absolute, as well as building a mindset and self-reinforcing habits

[Anonymous No.8980067]

>>8979158
eh, nothing wrong with saving/planning for the future but not obsessively. just learn to budget, know exactly how much money goes out every month, where to trim the budget if need be, and most of your worries disappear.

If I live absolutely bare bones, as in no "entertainment budget" for the month, cook all my meals at home, I can live off about $1500/month, that's to live alone in a 1bdrm condo, drive a car, pay insurance, groceries, cell/internet, gym membership, etc. If I really had to I could trim it to ~$1350 or so and if I have a more eventful month (more socializing/entertainment) it can go up towards $1800+

Anyway point is I know if absolutely worse comes to worse I can live off about $18,000/year and it's pretty fucking easy to make $18k per year. I have zero stress about the future, I've lived in hell and know how to survive.

[Anonymous No.8980068]

>>8979158
It's fucking shocking how many baby boomers are getting into their 60s and have no savings to retire off of.

My mom blew out her brains on drugs, got an inheritance when her mom died which she squandered away, now she's 60 years old and she mentioned something about retiring soon. Absolutely fucking delusional when you have no house, no assets, and no savings at FUCKING SIXTY.

When she dies I'm not going to inherit any money, just a fucking funeral bill and a hoarder's house to clean out full of worthless shit

I know she's a special case but not that far off from the average baby boomer fuck

[Anonymous No.8980111]

>>8979423
Thanks mommy and daddy :)

[Anonymous No.8980119]

>>8979209
dumbest post on /biz/

[Anonymous No.8980147]

They seemed surprised in this article for some reason. After crippling student loans, no health care, an economy built on rabid consumerism , and the immortal tax sucking baby boomers what do they expect people to have left?

[Anonymous No.8980152]

>>8979209
I bet you think it's OK to smoke cigarettes during your 20s-30s and quit with no later consequences as well.
>kys slowly

[Anonymous No.8980166]

>>8979169
>The future for millennials was particularly bleak,

32 with $250k saved here

[Anonymous No.8980175]

>>8979210
Have a (You) in 2018, my friend.

[Anonymous No.8980181]

>>8980068

the boomers and their army of brainless shitskins are going to come after our gains

[Anonymous No.8980208]

>>8979209
This might be one of the dumbest things I've read on here, and that's including all the Pajeet shill posts

[Anonymous No.8980292]

>>8979325
OP, if you haven't noticed: people will condition themselves to stay broke
>>8979209
>>8979210
>>8979275
>>8979371
>>8979424
>>8979494
>>8979511

[Anonymous No.8980318]

>>8979158
The best retirement plan is suicide in your mid 70s desu

[Anonymous No.8980408]

>>8980068
Fuck, man.... My boomer father is 56 (final wave of boomers) and is exactly the fucking same, right down to the hoarding useless shit.
He even inherited a brand new truck from his dead mother and has beaten the shit out of it because I'm to old and /fit/ to beat now.
I'm half way sure I'm getting NO house when he dies because the fucker is probably going to panic sell it for a low price when some health emergency FINALLY happens to his boomer ass.

>mfw I've had juvenile diabetes since 14 and been saving since first job at 21
>mfw 30 now with both BTC and fiat saved while boomer father gallavants around with military retirement checks and nothing else
>mfw I got no free military ride because of my chronic health condition
>mfw

[Anonymous No.8980416]

>>8979225
but where to move to before that happens?

[Anonymous No.8980445]

>>8980147
>immortal tax sucking baby boomers
I'm stealing this phrase

[Anonymous No.8980486]

>>8980416
There's nowhere to run pal. If America goes down, we're taking the entire world down with us.

[Anonymous No.8980535]

>>8980147

This...
Social security is actually a good idea and would have worked had the boomers not turned it into a fucking grab bag for their various governments. They fucked it up to the point where even 1m USD isn't enough to make it, think about that.

Seriously the beginning of the millennials didn't have it easy. 9/11, afghanistan rough, Iraq, and the War on Terror right out of high school. The dotcom bubble bursting around the same time. Massive tuition inflation. The economy damn near going nuclear right when many are getting out of college. We've basically been kicked around all our 20s fighting wars, fending off economic meltdown, and propping up the student loan industry because our parents told us it was a good idea. It hasn't been roses.

[Anonymous No.8980557]

>>8980486
I'm living in America, but I can tell you now that China and (possibly) Russia will be taking your place.

[Anonymous No.8980573]

>>8980486
Iceland is the actual answer

[Anonymous No.8980580]

>>8979158

sounds about right considering the average intelligence of whites

[Anonymous No.8980588]

>>8980535
I'm guessing the analysis and article was written by ignorant boomers?
What happens when an entire generation of medicated children snaps and the blood of the elderly runs in the streets?

[Anonymous No.8980680]

my parents live above their means and my dad routinely gambles money away

they will never retire

[Anonymous No.8980700]

>>8980557
>and (possibly) Russia

Holy shit

You must be deluded by memes to think that slavistan hellhole is going to take America or China's place

[Anonymous No.8980768]

>>8979225
>irrelevant social issues such as skin color.
If you think that race is just skin color then you are fucking retarded. Africa never had a written language, the wheel, or a two story building. They were less developed than civilizations that existed thousands of years before them.

[Anonymous No.8980799]

>>8980486
No not really, you realize there are 2 spot prices for gold now? America never even had such a privelege, but I see the population is still deluded (and fat). If you go down, China is going to make your wageslaves. Better hoard that gold/silver boy, you're in for a wild one.

[Anonymous No.8980811]

No shit.

What do you think happens when central banks control the money supply?

[Anonymous No.8980848]

>>8980680
He might get lucky and stike gold one day and make everybody rich!

[Anonymous No.8981154]

>>8980848
Well when you've got a hot hand like that, you gotta press your luck. Double or nothing!

[Anonymous No.8981213]

>>8979225
>2nd world
Dont use terms that you dont know the meanings of pajeet.

[Anonymous No.8981319]

>>8979209
solid troll or contender for dumbest post ever

[Anonymous No.8981338]

>>8980811
conspiratards who suck dick at making posters happen lol

[Anonymous No.8981395]

>>8981338
>conspiratards
What conspiracy?
This is what actually happened.

Do you know how central banking works?

[Anonymous No.8981401]

>be my parents
>have jobs that pay more than 90% of jobs in the country
>while living in an area with a very low cost of living
>have no retirement or savings to speak of
>blame everyone but themselves
>while spending $500+ a month on scratch off lottery tickets
>and another $250+ on weed and Mary Kay makeup
>have 3 mortgages for some reason

[Anonymous No.8981652]

>>8981338
what do you mean 'conspiracy' you kike? its happened, its happening. its documented

[Anonymous No.8982584]

>>8980147

The eternal boomer

[Anonymous No.8982811]

>>8980147
Cigarettes and alcohol are still legal and virtually guarantee that you won't need to save for retirement.


So there's always that.

[Anonymous No.8982948]

>>8980535
this sounds like an arkanine post creating every single excuse on why you didnt make it.

[Anonymous No.8983042]

>tfw threw my entire savings into crypto
>tfw even after the post-2017 crash I'm still way up on initial investment because I bought into ETH before the normie boom
>tfw absolutely 100% believe in my holdings
>tfw will live in a life of luxury before 30
>tfw will never have to worry about gay normie shit like student debt or having to pick up an Uber sidejob on-top of 60+ hours a week wagecuckery

[Anonymous No.8983061]

>>8979158
im dumping all my savings into crypto

[Anonymous No.8983103]

>>8980067
>I have zero stress about the future, I've lived in hell and know how to survive.

This, I sometimes get the vibe on this board that a lot of these people actually come from wealth or are just looking to turn the wealth they have into more but if you've ever been truly destitute or truly poor, you are not afraid because you know what it's like to have nothing to lose.

[Anonymous No.8983144]

>>8979209
I saved in my teens and 20's, bought crypto and now im a crypto millionare. Kek.

[Anonymous No.8983172]

>>8979158
>Americans are not saving for retirements

YOLO my dude

[Anonymous No.8983175]

>>8979158
>>8979169
>Millenials aren't saving
They have to pay off their student loans before saving for retirement. This isn't an insult or anything, it's the smart thing to do since the average student loan interest rate is ~8% and when you look at longterm financial checkpoints that's the equivalent of 8% guaranteed returns with no chance of loss. It's the right choice, saving for retirement with compounding debt is a fool's errand.

[Anonymous No.8983196]

>>8979158
Same here but mostly cuz it’s all in LINK

[Anonymous No.8983203]

>>8979209
Financial mathematics disagrees with you. It's better to save small amounts during 30 years, than to wait for the possibility of having a good job to save exponentially larger amounts later on in life

[Anonymous No.8983305]

>>8980535
Social Security is absolutely abhorrent, it's why everyone is broke because YOUR KIDS DO NOT INHERIT IT.
>The average person saves ~15% of their salary after taxes/expenses.
>SS takes 5% before taxes/expenses
>TWENTY FIVE PERCENT OF ALL SAVINGS
>Boomer normie's entire net worth is cut by 1/4 plus compounding interest
>They die
>Their kids don't get that money

Social Security killed generational wealth. Your family's money goes to the government instead of your family. Only the rich people pass their wealth down to their kids because after 123k you don't pay SS anymore.

[Anonymous No.8983331]

>>8979158

>tfw have 200k at age 25
>but it's all in shitcoins

I will either make it or become another broke 70 year old on the street

[Anonymous No.8983335]

>>8979158
dont fucking go to college unless you get in for free or can get it all done for 20k or less. it's the biggest fucking jew scam going.

[Anonymous No.8983498]

>>8979209

[Anonymous No.8983573]

>>8980292
Yeah. Im just recently breaking the conditioning.

[Anonymous No.8983788]

>>8983305
inheritance is abhorrent and indefensible.

[Anonymous No.8984071]

>>8983788
Found the commie

[Anonymous No.8984073]

>>8983788
Disagree strongly, it's absolutely inhuman to suggest something like this. It's like saying having children is "abhorrent and indefensible" because of the effects on the environment. Wealth inequality is a problem but this thought process leads to genocide.

[Anonymous No.8984168]

>>8984073
>>8984071
>meritocracy is bad
if you feel the need to pass money down to your children you basically admit they wouldn't be able to create that wealth by themselves. You're a failure of a parent.

[Anonymous No.8984218]

>>8984168
It's called basic empathy, you're acting like everyone who leaves something for their children is a billionaire. Most people will just leave a house if they aren't completely sociopathic(rather than jack up the price for someone elses's kid) and providing for your children is a big motivating factor for work. You know, because you care about them. You're basically advocating for the destruction of the family unit in favor of a never-ending dystopia of commie blocks and subsidies, perhaps without realizing it

[Anonymous No.8984553]

>>8984168
>>8983788
I work hard so that my children will live a better life than I do. Anyone who gets in the way of that can suck a dick.

[Anonymous No.8984566]

STOP FUCKING PUMPING. COINBASE AND BINANCE MAKE ME WAIT 9 DAYS TO TRANSFER AAAAHHHHHHHHHHHHHHHHHHHHHHHH

[Anonymous No.8984824]

My retirement plan is the downfall of capitalism or dying in the revolution there really is no other way out

[Anonymous No.8984903]

>19 years old
>70k LINK
>10k WAN

i should be ok