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- #101
Just remember guys, back when my parents worked, they were paid enough to save enough to retire. A lot of boomers got pensions too. Us liberals have been warning you since the early 80's that the Republicans were waging war on the middle class. Hiring illegals instead of Americans, tax breaks to the rich, breaking unions. Exec pay goes up 1322% in those years and our pay only went up 18% because we lost our seat at the table.If you 'bell curve' the numbers/data, you see that a minority of the 65+ hold the majority of the wealth.
In these years, union membership went from 35% of our workforce to about 5% today. I thought workers would do better without unions? Seems we're not.
According to the Fed data, the median net worth for Americans in their late 60s and early 70s is $266,400.
While $266,400 may seem like a lot of money at first, people in their 60s usually start tapping into their net worth to cover living expenses in retirement.