Too Many Americans Will Never Be Able to Retire

[TLR Is Mental Poison]

I feel that, man. I was in the weeds trying to figure out what my retirement was gonna be looking at if I started...but one thing stood out above all:get out of debt first. It would be different if I could drop many 10s of thousands into investments now, but I still just have a car to pay off. No investment can outdo the 6% im paying on the loan, and jts possible for me to pay off t he car this year, so the long term savings will be incredible. Been eating good cooking at home and saving cash, my housing is 1/5th of my pretax income (less than 1/3 after) so my #1 goal is to finish that. All my other debts are paid off and it changed my life. I know too many folks that could use two years of buckling down and they would be good but they aint have the will for it.

IDK breh, my shytty 401Ks have been beating that no problem. And my car loans over the last ~5 years have been in the 2-4% range. I don't think it's all that bad. For example if you don't have like 6 months worth of emergency non-retirement cash on hand, I wouldn't be scrambling to pay down a car loan.

But the point is you're thinking about retirement and doing things to get toward it. The details can make a difference but just living below your means and investing at all is a big step.

 

[TLR Is Mental Poison]

So Free public tuition and Medicare 4 all is not realistic?

A lot of right wingers in this forum. Those 2 things would save tens of thousands per American every year. And people always juelz'ing on why that isnt realistic.

Guess bloodshed gotta happen to the rich before it gets through people's heads.

I agree that free college and healthcare are doable and good things. But you can't save money with policies that don't exist yet. You have to make the most of the situation you have right now.

 

[Thanos]

Y'all funny. when you got no money, you can't save anything. Folks outchea strugglng to survive and y'all talking like the reds. "If you saved more and drop that coffee, you could afford the luxury of retirement." A lot of the population is fukked if no policy is coming for. Y'all better have kids and hope they become successful, so you can leech.

 

[Ya' Cousin Cleon]

but where have I actually argued against saving money tho

Cleon how many times a day can you post smart-dumb shyt on this forum? 5? 10? Genuine question.

Its guys like you who truly and sadly don't get it. No one owes you anything.

How the hell do you argue against saving money for the future? You do realize health insurance is the reason why most people don't get "wiped out" by a single medical expense?

Back to the drawing board ol' cleon.

 

[BlackJesus]

Y'all funny. when you got no money, you can't save anything. Folks outchea strugglng to survive and y'all talking like the reds. "If you saved more and drop that coffee, you could afford the luxury of retirement." A lot of the population is fukked if no policy is coming for. Y'all better have kids and hope they become successful, so you can leech.

No. Your wrong. Some people just dont get it. If you bought one $5 coffee a day 5 days a week thats 25 a week $100 a month or $1200 a year.

What of you invested that same $5 you blew on over-priced coffee? By the end of the year even if you did nothing else you have a portfolio worth $1200.

Its minimal changes you can make to keep from being broke. Its really not that hard.

 

[Wildhundreds]

If you dont have enough money saved for retirement, outside of being wiped out by a medical debt...then it's your fault

Spoiler: .

The majority of Americans are fukking stupid with their money and dont think about retirement until it's right around the corner and it's too late. They buy depreciating items their entire lives and other worthless materialistic shyt that wont help them in order to show off to others, meanwhile saving, investing, and paying off debts is a foreign concept. I see it now with peers in their 20s and 30s. I tell them to save for retirement as opposed to buying dumb shyt, and some of these fools tell me "tomorrow isn't promised ", "I want to enjoy my money when I'm young, not when I am an old decrepit nikka "


If you are born post 1980, you have no excuse not to save for retirement. You have all the knowledge that mankind has created in the palms of your hands, stop keeping up with the joneses and trying to live a fake life and start budgeting and saving.

A 30 year old single breh who makes an average of just $45,000 over the course of his working life, if he puts aside 8-10% of his GROSS income into an index fund at an extremely conservative rate of 9% return over the course of 35 years (age 30-65), he would have a little over $1 million dollars by the time he is 65. If he has an employer who matches 3-5% towards his 401k that could be better since he is getting free money. Or open a roth IRA and max it out every year. If he has a home that is paid off and no other bills then he should be set. This is only if the breh just worked for his entire life and didnt make any other investing moves (real estate, mutual funds, etc.). Don't nut in bytches you arent planning on living with or raising a family with, try to stay as healthy as you possibly can, budget your money, live within your means, save for retirement, all tangible and realistic things that can be done.

Meanwhile you have fools in here hoping there will be a french revolution

Anything to prevent you from using common sense

Real talk in that spoiler breh.

But some nikkas will read all that and say youre victim shaming..

 

[Deflatedhoopdreams]

I would go even further and say the basics of just saving money to invest in the first place eludes a lot of people. shyt like budgeting and investing should be taught in high school.

That said, the information and options are out there, and if you have a long term investment timeline all the short term bumps and bruises are irrelevant. But that takes a change in mentality that a lot of people who have to live paycheck to paycheck might not have the luxury to adopt. shyt's complicated

Yup and if you ever read a how to start investing book or whatever. THE FIRST THING that it tells people is that they need to get their finances in order to even think about having money to start investing.

The problem begins with people not having money to invest in the first place. Usually that is because of low paying job to where they can barely make rent or normal expenses. Or they have too many kids and need to provide for them with the little extra money they have. Or they just do dumb shyt with the little extra money they have.

I’m saying all this to say that people that would have enough money to invest need to cut the bullshyt expenses and see where they do have the extra money to invest and then learn how to invest.

 

[BaldingSoHard]

My boy 35 and has 0 savings and 0 401k

He has 2 kids and is about to divorce his whore wife, who he gave free reign over his debit card and is the reason they live check to check. Dude is fukked

 

[sfgiants]

My Job has 401k matching and a pension
Assuming I don’t get bored and leave I’m gona be set

edit: my friend works for the city and says there’s some old fukks in there refusing to retire, trying to get promoted to a higher rank/pay rate for 2 years because their retirement is they take home 75% of their highest pay in their last 2 years of employment
Old fukks getting 185-200+ Could walk away with like 140k a year

 

[WesCrook]

Mfs find a way to pay a $200-$500 car note but retirement contributions is too outta budget

Foh

A depreciating asset to boot.

 

[Noriega]

Is it bad that I don’t invest or 401k and rely solely on my pension for retirement

@HaitianPattyFromNYC

 

[Thanos]

No. Your wrong. Some people just dont get it. If you bought one $5 coffee a day 5 days a week thats 25 a week $100 a month or $1200 a year.

What of you invested that same $5 you blew on over-priced coffee? By the end of the year even if you did nothing else you have a portfolio worth $1200.

Its minimal changes you can make to keep from being broke. Its really not that hard.

lol, how do you keep yourself being broke if you already broke. People weren't suffering earlier mid-late 1900s because jobs were coming up with along with wages. Some folks don't budget, that's irrelevant. It's the most folks who don't have money to budget well, that's the issue. Bootstrapism ain't work on that group at all. If you want them to do better, they need increase in income or opportunity , not just "put away 5$, and it will all be okay".

Instead of talking about budgeting (Many resources are available for this) , Let's focus creating and hooking people with opportunities.

 

[neph27]

lol, how do you keep yourself being broke if you already broke. People weren't suffering earlier mid-late 1900s because jobs were coming up with along with wages. Some folks don't budget, that's irrelevant. It's the most folks who don't have money to budget well, that's the issue. Bootstrapism ain't work on that group at all. If you want them to do better, they need increase in income or opportunity , not just "put away 5$, and it will all be okay".

Instead of talking about budgeting (Many resources are available for this) , Let's focus creating and hooking people with opportunities.

its two sides of the same coin, both need to be focuses if you’re going to set yourself up for retirement

you can be in a good situation and still spending frivolously. I know dudes 100k+ easy just blowing it because they don’t have the other skill set.

it all adds up

 

[BlackJesus]

lol, how do you keep yourself being broke if you already broke. People weren't suffering earlier mid-late 1900s because jobs were coming up with along with wages. Some folks don't budget, that's irrelevant. It's the most folks who don't have money to budget well, that's the issue. Bootstrapism ain't work on that group at all. If you want them to do better, they need increase in income or opportunity , not just "put away 5$, and it will all be okay".

Instead of talking about budgeting (Many resources are available for this) , Let's focus creating and hooking people with opportunities.

Bro. There's plenty of opportunities for side-hustles already. Uber, postmates whatever. Working just a couple extra hours a day.

What now? Those opportunities don't pay enough too?

 

[Tom Foolery]

The only way out of this is to allow people a fair opportunity to enterprise.

People need protection from the wealthy, not handouts. It's not sustainable.