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Old Yesterday, 03:03 PM
 
Location: Forests of Maine
30,861 posts, read 49,758,033 times
Reputation: 19376

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Quote:
Originally Posted by Mircea View Post
... The low income people who are at the "national average" or below don't have Big Plans for retirement. In fact, they never had Big Plans their entire lives, which is why they're low income.
In 1980 when I was courting my future bride, we discussed our vision for our future. We formed a pact to strive for that as our mutual goal, for our first 20-years of marriage that was the theme of everything we did, every hobby, every investment.
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Old Yesterday, 03:26 PM
 
Location: USA
143 posts, read 18,501 times
Reputation: 151
Quote:
Originally Posted by Mircea View Post
I don't understand why "no savings" is a problem.

The majority of Americans do barely enough just to get by. They don't have Big Plans for retirement, because they don't care.

So, why would they need savings in the first place?

The low income people who are at the "national average" or below don't have Big Plans for retirement. In fact, they never had Big Plans their entire lives, which is why they're low income.

I hope you don't think they're all sad and upset about it, because they ain't.

They're way too busy worried about what everyone else is doing to even notice they don't have any savings.

If you don't have Big Plans, you really don't need savings, so what's the fuss all about?

All this nonsense about everyone's just gotta have savings is just nonsense, but it does make for good click-bait.

Wow. Just wow.
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Old Yesterday, 03:27 PM
 
Location: USA
143 posts, read 18,501 times
Reputation: 151
Quote:
Originally Posted by GeoffD View Post
The median household income worldwide is a bit under $10K. The poorest of the poor retirees in the United States with nothing but SSI get $9,252 and health care access. Plus, many would get public housing or housing vouchers, food stamps, and the rest. Medicaid would pick up a double occupancy nursing home room.


Do I aspire to that? No. Still, it's a way better deal than more than half the people on the planet.

Very true!
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Old Yesterday, 03:35 PM
 
Location: USA
143 posts, read 18,501 times
Reputation: 151
Quote:
Originally Posted by BBCjunkie View Post
I think I need to take an extended break from this forum, because it's becoming clear that "low(er) income retirees" like myself are very much a fish out of water here.

Please don't go. We're aren't all the same. Sure its fun to read about people taking trips and doing nice things in their retirement. But there is a lot to learn from people who know how to live on less and are making the most of their retirement. I really do hope you'll stay.
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Old Yesterday, 06:23 PM
 
12,352 posts, read 15,318,311 times
Reputation: 8165
Quote:
Originally Posted by NewbieHere View Post
Did you see the thread recently about retiring in Mexico for $1000 a month.
That's right. Use your last paycheck to buy a one-way ticket! Some posted about the advantages of a 401k plan, ignoring the fact that about half of workers don't have access to one.
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Old Yesterday, 07:37 PM
 
Location: Forests of Maine
30,861 posts, read 49,758,033 times
Reputation: 19376
Quote:
Originally Posted by TMSRetired View Post
People are encouraged to live beyond their means. Whether they do or not is their choice....
It is always their choice.
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Old Yesterday, 07:48 PM
 
Location: North East
93 posts, read 22,497 times
Reputation: 241
[quote=pvande55;55984192 ! Some posted about the advantages of a 401k plan, ignoring the fact that about half of workers don't have access to one.[/QUOTE]

Wait, no access? They do have Solo 401's, IRA's, etc. People do have access, sadly this isn't taught. Fortunately places like CD can correct and enlighten.
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Old Yesterday, 07:52 PM
 
479 posts, read 339,044 times
Reputation: 440
I hate to agree but its true my experience is that everyone spent now and the future is distant. But some are truly good and should be helped
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Old Yesterday, 08:32 PM
 
Location: Tennessee
24,107 posts, read 17,928,381 times
Reputation: 28277
Quote:
Originally Posted by Submariner View Post
It is always their choice.
A lot of peer pressure goes into it. A former coworker of mine makes $90k, has $55k in credit card debt as of a few months ago, and a $365k 3700 sq. ft new house. She is single.

It's complete excess to a level I'm not familiar with.
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Old Yesterday, 08:35 PM
 
627 posts, read 183,141 times
Reputation: 1539
BBC, some people don’t realize that bad things can happen to people that change their financial picture. People get a serious illness and go broke despite having health insurance. I have seen a lot as a former social worker.
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