Interesting factoid: Here is the percentage of retirees with $1 Million dollars in savings.

[Ringo]

 

[Woodznutz]

Welfare bailouts of Wall Street always gets a lot of votes and makes stocks a lot more valuable. Of course if there were really 'free markets n stuff' they would have been worthless a long time ago and their bank deposits gone. Meanwhile probably 90% of them snivel over some homeless guy getting $50 a month in food stamps.

The problem with food stamps (SNAP) is that the poor are generally overfed and overweight which leads to yet more problems for them. Cutting back on SNAP allotment could mean more money for other needed programs for the poor.

 

[Woodznutz]

"Pull yourself up by your bootstraps"--what an utterly Republican thing for you to say

That's the best way to do it (been there, done that).

 

[Anomalism]

If you haven't saved a million by the time it's time to put your coat up you fucked something up.

 

[Woodznutz]

It's harder to save when the government takes 12.4% of your salary for SocSec.

SS is a great deal if you collect long enough. Take care of your health.

 

[DudleySmith]

Better build it in a state that has good forest management practices or it will burn. I'd suggest a big pond too.

I have to drill wells. Problem with those is you can't be sure when they're going to run dry. So far I've been lucky for many years. I do have 'city water' to the houses, though. Drinking and cooking water is either bought from the stores or treated by ourselves, depending on costs and laziness.

 

[DudleySmith]

The problem with food stamps (SNAP) is that the poor are generally overfed and overweight which leads to yet more problems for them. Cutting back on SNAP allotment could mean more money for other needed programs for the poor.

Ah, so the kids should be starved until you feel better about them, then. Why not just do that to all fat people? why discriminate against kids living on SNAP?

 

[Woodznutz]

If you haven't saved a million by the time it's time to put your coat up you fucked something up.

You don't need a million to retire, but it's nice.

 

[DudleySmith]

If you haven't saved a million by the time it's time to put your coat up you fucked something up.

lol if it weren't for bailouts and corporate welfare you wouldn't have squat for savings, unless you buried it in the back yard and kept it out of banks and Wall Street schemes.

 

[Woodznutz]

Ah, so the kids should be starved until you feel better about them, then. Why not just do that to all fat people? why discriminate against kids living on SNAP?

Children of fat parents are often overweight as well. All fat people are encouraged to make better food choices.

 

[DudleySmith]

You don't need a million to retire, but it's nice.

most of it will go to doctors, drug companies, and hospitals. People used to die a lot younger and lot quicker.

 

[Anomalism]

lol if it weren't for bailouts and corporate welfare you wouldn't have squat for savings, unless you buried it in the back yard and kept it out of banks and Wall Street schemes.

The house and property I'll inherit is worth more than that. Lol

 

[Orangecat]

Ten percent. That surprised me, I thought it would be lower. Here is an excerpt from the article:

Rebecca Lake
Wed, September 6, 2023 at 8:39 AM MST

what percentage of retirees have a million dolllars
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not a huge percentage of retirees end up having that much money. In fact, statistically, around 10% of retirees have $1 million or more in savings. The majority of retirees, however, have far less saved. If you’re looking to be in the minority but aren’t sure how to get started on that savings goal, consider working with a financial advisor.

A million dollars is about what $100,000 was when I was growing up: a nice chunk, but not enough to alter your life.
Massive overspending and the subsequent printing of fiat currency has decimated the value of the dollar.

 

[DudleySmith]

The house and property I'll inherit is worth more than that. Lol

Cardboard boxes and garbage bags aren't worth 'millions of dollars', except maybe to those ranting schizos wandering the streets with you.

 

[Anomalism]

Cardboard boxes and garbage bags aren't worth 'millions of dollars', except maybe to those ranting schizos wandering the streets with you.

I'm sorry that in the cousin fucking backwater you grew up in a million dollar home is something hard to believe.

 

[MarathonMike]

A million dollars is about what $100,000 was when I was growing up: a nice chunk, but not enough to alter your life.
Massive overspending and the subsequent printing of fiat currency has decimated the value of the dollar.

I'm not sure it is only a tenth of what a million used to be, but it certainly isn't a guarantee of security in retirement.

 

[Toddsterpatriot]

You see the line under our bottom half?

That's the commie shithole wealth.

 

[Toddsterpatriot]

SS is a great deal if you collect long enough. Take care of your health.

How long do you have to live for it to be as good a deal as the S&P 500?

 

[Orangecat]

I'm not sure it is only a tenth of what a million used to be, but it certainly isn't a guarantee of security in retirement.

True, probably closer to 1/2, but declining every year.

 

[DudleySmith]

I'm sorry that in the cousin fucking backwater you grew up in a million dollar home is something hard to believe.

You wish you could pull off being somebody who doesn't live in their Mom's basement.