42% of Americans at Risk of Retiring Broke (raise, college, taxes)
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I guess squirrels have more sense then 42% of Americans. Squirrels know to save for lean times. Our brains are bigger than squirrels, we should know better.
Yes I know it is just a marketing effort to get money out of people. However it is for some a entertaining one. I love it. Saw it when it first played at Super bowl and when the game was over watched it over and over for awhile.
I guess squirrels have more sense then 42% of Americans. Squirrels know to save for lean times. Our brains are bigger than squirrels, we should know better.
Unless they live in a neighborhood with lots of well stocked year round squirrel/bird feeders which can perhaps over time short circuit their self preservation circuitry for long term savings and have them just hide enough for the short term.
I read the article early today as part of my daily CNBC read. I found it very good and very insightful for its targeted audience which isn't many people in this forum. It would be better received in other forums. It is intended for people with investments who read about investments and who have a very different perspective on financing retirement for themselves. The author is very accomplished and personal finance is her beat as you can see from her bio.
Again wealth and what is needed for retirement is in the eyes of the individual and their family. Many times we see articles linked intended for one audience trashed in here by folks it was not intended for. I suspect those of us who routinely read the personal finance section on CNBC and other financial publications find articles like this to our liking.
Jessica Dickler
Jessica Dickler CNBC
Personal Finance Writer
Jessica Dickler is a contributing writer and editor covering personal finance for CNBC.com.
As an award-winning financial journalist, Dickler has covered national news, the economy, real estate, retail, personal finance and consumer spending. Prior to joining CNBC, she worked for CNNMoney.com, SmartMoney.com and WSJ.com. She is also a regular contributor and columnist for HGTV Magazine.
Dickler holds a bachelor's degree in Political Science and Art History from Johns Hopkins University and a master's degree from the School of International and Public Affairs at Columbia University
Typical northeast elite living in the proverbial bubble for all of her life. Couldn't survive a night in a Motel 6 if her life depended on it.
These articles are written for upper middle class spendthrifts, in an effort to convince them to change their ways.
The bulk of the population doesn't have the resources to accumulate the wealth required to fund a retirement 100%. A modest SS check, and the ability not to have to work anymore, suits many just fine.
I keep hearing about “those folks†but I can honestly say I have never met a single one. I guess I just never hung with the “right crowd.â€
The people I know who have struggled to make ends meet never had that opportunity.
Yes, that seems to be the common stereotypes on retirement forums. Everybody makes the same amount of money, has the same life path, but one group saves and the other group doesn't. I don't see how anyone can view the issue with such simplicity.
More useless statistics. Of course, if you consider how many are on welfare, SSI, disability, or just living hand to mouth. Then theres all the people who have been financially by a divorce or bankrupted by medical expenses. We live in an Rv park in a retirement area. We've met lots of folks who have found out ways to get by. We know one land that is 85, and works at Walmart.
I've been saying forever on these boards and to people I know that the "work until 65" model broke a long time ago. Most people lose good paying employment or get burned out or have health problems the preclude them working in high pay/high stress jobs by the time they hit their 50s. They don't have as much time to save for retirement as they think they do.
I feel like no one listens.
Most people are still operating on an outdated script in their heads about how they think life is supposed to go and the things they think they are supposed to have.
One change I think, is that employers used to "carry" people to retirement age, even if their productivity had fallen off. Now they just fire them.
Typical northeast elite living in the proverbial bubble for all of her life. Couldn't survive a night in a Motel 6 if her life depended on it.
These articles are written for upper middle class spendthrifts, in an effort to convince them to change their ways.
The bulk of the population doesn't have the resources to accumulate the wealth required to fund a retirement 100%. A modest SS check, and the ability not to have to work anymore, suits many just fine.
Bada Bing! Yup, exactly a targeted audience CNBC audience.
I will be almost 35 when I graduate college. Since I will be starting so late in the workforce I won't ever have enough to retire. Will just work until I am 65-70 then I plan on dying of a heart attack or something from stress and poverty :shrug:
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