Half of Americans Will Struggle With Retirement
Are you going to be one of them? If so, please read through this associated article. It concerns your retirement, your future, and the future health or our economy.
CNBC presented the hard, harsh facts. Emmie Martin lays it all out for us and it is rather shocking. It’s a bit depressing. And it’s a wake-up call for those who will hear it. Read on:
Picture by BankRate/CNBC.
We ran a story about a very similar situation not too long ago. But this one bears repeating. This affects our futures, our future happiness, and maybe even our potential to survive the future. It’s kind of important.
Be mindful that the failure of one group, for whatever reason, to fail to plan or to save, will have consequences for society as a whole. No one exists in a vacuum. And with a problem of this magnitude there is plenty of room for overflow to all segments of the society. Beyond family and personal relationship, things like this run the risk of more government action – and some of that has helped fuel the problem in the first place. More of the same won’t cut it. WE need to fix this. And soon.
Despite all the pomp about an improving economy, some of it real, Americans are not saving. 20% have nothing set aside. Zero. Zilch. And this is trending towards being a retirement issue.
You can’t retire on nothing. And I would not count on Secured Socialism if you’re under 60.
The above graph lists some of the reasons people are not saving. Even those who sock away a little money only sock away a little. Very little.
“In fact, Bankrate estimates that half of the American population won’t be able to maintain their standard of living once they stop working. A report from GoBankingRates found similar results: Over 40 percent of Americans have less than $10,000 saved for when they retire.
“The average American has less than $5,000 in a financial account, a quarter to a fifth of what you should have, and those aged 55 to 64 who have retirement savings only carry $120,000 — which won’t last long in the absence of paychecks,” the survey reports.”
Don’t. Going. To. Make. It.
Even as people save less or nothing at all, prices continue to go up. So, what little you have saved up will buy less of the things you need in the future. This is called inflation. It’s a gift from the government and the central banksters. It’s a gift we should return immediately.
Failure to act on this will have dire consequences for all of us. And, for the individual, landing in a cashless, hopeless “retirement” will be heartbreaking.
What can we do? Individually there are many things. Cut back – somehow. Consider additional sources of income – and save it. Learn to invest better and smarter. And, for God’s sake, please stop supporting the political criminals who hate you. Let’s leave them in the poorhouse and not the other way around.
Some of this is easier said than done. We’ll surely have more and more follow ups on this developing tragedy.
Perrin Lovett writes about freedom, firearms, and cigars (and everything else) at www.perrinlovett.me. He is none too fond of government meddling.