Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
1/3 of Americans don't save for retirement because they don't think it's important or they live paycheck to paycheck. Those who do save aren't saving that much.
Are you saving for retirement and if you are, what percent of your income do you save?
Are you one of the third of US adults who would like to save but can't, or someone who doesn't think it's important right now?
No but Im pretty sure the Terms of service mention not posting the same things over and over...
The article linked was created today so it's fair to say that it's current and that this article probably wasn't posted before. Perhaps the same topic but that happens all over the entire forum daily
I started a job when I was young that had a mandatory 5% deducted for retirement. And that was on top of taxes and Social Security. I hated that--I was low level clerical and couldn't afford to pay rent in a decent area, and more than once I had to take a additional part-time job to pay for car repair or something, but still the money was deducted. It's not like I was going to get old and need it, right?
I got old. And an amazing amount of people have told me to my face that "it isn't fair" that I have a retirement pension and they don't.
There will always be a huge percentage of people who no matter their salary will always claim they can't afford to pay into a retirement account.
I started a job when I was young that had a mandatory 5% deducted for retirement. And that was on top of taxes and Social Security. I hated that--I was low level clerical and couldn't afford to pay rent in a decent area, and more than once I had to take a additional part-time job to pay for car repair or something, but still the money was deducted. It's not like I was going to get old and need it, right?
I got old. And an amazing amount of people have told me to my face that "it isn't fair" that I have a retirement pension and they don't.
There will always be a huge percentage of people who no matter their salary will always claim they can't afford to pay into a retirement account.
Thanks for sharing - a lot of my peers probably need ice water splashed on their face to wake up to the reality that Gen Y simply cannot expect to get the fat pension and SS checks of the previous generation.
Yes, those of us who had mandatory withholdings from salary had no choice in the matter, so we can't claim special virtue. For 34 years I had 8% of my salary withheld as my contribution toward my pension. But in addition I always lived below my means - it just seemed like the sensible thing to do. Result: now at age 70 I have a pension plus some pretty nice savings, all from a career job with a minimal salary.
If people don't plan for the future, then who do they expect to take care of them when they retire?
The large number of baby boomers will have darn near depleted social security. There is a decline in the working population. Many unemployed have given up trying to find work and gone on disability, which also drains social security. Since there are fewer and fewer people paying into the mandated entitlement programs, then what will happen when it's time to retire if adequate money hasn't been saved? Where is the money going to come from? What ever happened to self-respect and responsibility?
This could turn into a national crisis
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
