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I know of people that is in their 60's and have no savings and will have too work the rest of their life.
Short on savings? You're not alone.
Twenty-eight percent of Americans have nothing in their savings accounts and another 21 percent don't even have a savings account, according to a new survey from GOBankingRates. 49% of Americans Have Nothing Saved
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
A lot of people aren't able to work until they die, even if they want to. This is not your grandfather's economy.
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
You're forgetting to account for the fact that people are living much longer now and yet still getting disabilities as they age at virtually the same rate as before. The end result is that much of the population spends many of their elder years unable to work. You should not rely on being active and productive until your last day and then just suddenly keeling over and dropping dead!
You're forgetting to account for the fact that people are living much longer now and yet still getting disabilities as they age at virtually the same rate as before. The end result is that much of the population spends many of their elder years unable to work. You should not rely on being active and productive until your last day and then just suddenly keeling over and dropping dead!
If you do not partake in the effort of prolonging one's life by modern sciences (such as going to the doctor and taking preventative medications), would this not set you for the most part back to the natural course of living out the years one would have had without the modern conveniences?
The comment here about being not able to work is a very true one. It is always a wise investment to set aside something in case society has shut you out of the work force. It is my fear that some people may find themselves learning a hard lesson that society cannot always be depended on for a job. Working is something that can always be done like doing side jobs or operating one's own business, but these things might not (probably wouldn't) be viable sources of income. I personally do not plan on retiring but would like to get out of this rat race on my own money and work for myself--if the money comes in, great. If not I have something to fall back on.
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
Go ahead worker bee, work till you die. When I'm 60, I plan to be on the golf course.
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
I hope you are defined by more than your professional work because at anytime it could be gone. I personally work and save for the option to walk away when/if I want to
I don't make enough to save $10k but I do manage to save over $1k for emergency use. I don't have a savings account anymore because the interest earned is so little, and I keep myself on a strict budget, so the 'savings' remain inone account. The interest rate for a cd for that amount is also very little unless I locked it at a 10 year rate. Nah... what's the point of an emergency fund if you can't use it without penalty during an emergency?
I agree that most Americans don't have anything saved, having a savings account or not. Almost all of my coworkers and friends don't set any money aside to save. They do not live frugally and spend as they please while complaining how they are in debt. Most are also around my age too. Again, not surprised by the results of this survey. As long as the current society trend follows "spend now or you'll regret it later", any money they do manage to save will be gone as quickly as it came. The temptation to buy is just too alluring.
I get financial security, I don't get the obsession with retirement.
My great grand father worked until he died, so did my grandfather, and I hope the same happens with my dad decades from now.
We spend decades building the skills we need to work, and then our work defines us for decades more. Retirement isn't for everyone, some of us enjoy the challenges of work, the feeling of production in excess of consumption, of being part of something greater.
I get what you're saying, but I definitely think people need to be encouraged to save for retirement. Money gives you options: when you're young and working, and when your aging and your health may be declining.
I'm seeing 3 of my 4 parents (steps included) deal with physical aging issues that affect their jobs. They are still working, but their options are limited due to these issues (primarily vision, arthritis and heart problems.) It sounds like it's pretty tough to change careers in your 60s and have some health problems. I'm certain all 3 would retire if they'd planned for it.
In addition, as their children have grown up, moved out of state, and have had children, I know they would also like more time to spend with their grandkids. Unfortunately, I come from a family of terrible planners, financial planning included.
In fact, when my husband and I bought a new house, we bought with the expectation that we will probably be supporting at least one parent in the future.
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