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Very true and we know about these . . . but how many younger folks know about them and how to go about getting them? And how many of us at 60 plus knew about these things at 22? I knew about mutual funds and muni bonds, but only b/c my family taught me about them! I sure didn't learn about them in college or at my workplace!
So when we look at stats . . . we can easily come to the conclusion that there is a huge % of the population "out there" who hasn't made enough preparation . . . but that still doesn't tell the whole story. Some of it may be a willful dependency on Uncle Sam to "take care of them," but some of it may simply be folks were never aware that they needed to seek out financial instruments or financial advice. Plus, many are/have been living hand to mouth so the last thing they were thinking about was spending money they didn't have on financial planning and/or an IRA that they didn't have the discretionary income to even set up.
Some folks living hand to mouth decide to do something about it. If you drop out of school or don't pay attention in school a lot gets missed.
TWO THIRDS of all U.S. households between the ages of 30 and 59 believe they WILL have enough money for retirement. (Source: Employee Benefit Research Institute)
When the EBRI got that stat they no doubt caught the repondents giddy and absolutely besides themselves after depositing their parent's check in the bank after selling the 'Manoir'....;-)...
Well one things I'll say as noted by others, context is important when one does so-called financial research or really any kind of research for that matter.
They are a fascinating resource to read however as you know they are a trade organization.
jghorton is correct that TheEconomicCollapseBlog is not a credible source of anything. It was a favorite source for poster GranpaPipes in the Economics Forum, and after I clicked on his links two or three times I swore I would never click on TheEconomicCollapseBlog again. They have an ideological point of view (that we are headed for ecomomic collapse) so all of their choices of data are skewed to that end. And guess what? Look what they're selling! Gold! Sure they want to scare you; that's how they make a profit!
They didn't feel the need to run out to Best Buy to get the latest electronics equipment every other day.
Yeah but that would mean a lower social status and i'd much rather have that now and worry about retirement later. Might get hit by a truck and then I'd have totally lost out.
TWO THIRDS of all U.S. households between the ages of 30 and 59 believe they WILL have enough money for retirement. (Source: Employee Benefit Research Institute)
When the EBRI got that stat they no doubt caught the repondents giddy and absolutely besides themselves after depositing their parent's check in the bank after selling the 'Manoir'....;-)...
Well one things I'll say as noted by others, context is important when one does so-called financial research or really any kind of research for that matter.
The original "SCARY FACT" (post #1) was:
One-third of U.S. households between the ages of 30 and 59 won’t have enough money for retirement, even if they work until they’re 70. (Source: Employee Benefit Research Institute)
My reverse-spin fact using the same data (post #13) was:
TWO THIRDS of all U.S. households between the ages of 30 and 59 believe they WILL have enough money for retirement. (Source: Employee Benefit Research Institute)
... I didn't know if folks caught that, since my 'replacement fact' has been picked-up a couple of times.
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I thought you meant my first car. Oh I missed that 
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