Think about these charts for a minute and realize the implications.
The median (50th percentile) U.S. household held only $1,100 in its retirement account. Even the 70th percentile of households had only about $40,000.
Among these three age groups, households with heads who were ages 56 to 61 had the most savings, but underparticipation continued to be a problem: The median of this group held only $25,000.
Since the late 70’s / early 80’s it has been a policy of the American Government to undermine the bulk of average citizenry’s abilities to produce income in sufficient levels to meet the ever increasing pressure placed from the corporate structure that paid the wage and benefit packages that now has pushed that on to the wage earner at an ever decreasing income level and an ever increasing tax burden coupled with cost of living and you question why people don’t or can’t save sufficient funds ? The crony capatilist system in place controlled by the circle jerk that is Wall Street to K-Street to Capitol Street blessed by the Creature from Jekyll Island the federal reserve is still firmly in control for now . Trump realized this when he woke early one morning with a tight grip on his balls and discovered it was not Melania but the Federal Reserve Group Prepared to castrate him or worse like JFK style …!
Plus one thousand Boat Guy. Hope all will check out USA Watchdog’s latest interview on You Tube.
Former CIA officer Kevin Shipp explains what’s currently goin’ down in the DC swamp. It’s an active coup. If we don’t stop it retirement funds are going to be the least of our worries. And if you think it doesn’t affect you, bear in mind attorney/client privilege has just been rendered null and void.
My husband has been in the same profession for 38 years. We had been counting on his “excellent” pension benefits…however, as of the last few years I have come to the realization that we would be foolish to count on all of that money and health benefits being there in seven years when he retires (I am 13 years younger). I do have a successful home based business and have for 19 years. I plan on continuing that once we move back to the old family homestead in West Texas. We are now focused on saving and cutting back on consumption of crap we do not need. I am hanging on to my record album collection though. Just cannot let those go, and they still sound excellent on my vintage stereo system.
What’s to worry about? The Gummint will take care of everyone with the Fed’s magic printing press…
Me thinks the government will take care of the Tribe and minorities but “eat” the rest.
This chart tells the real story. Inflation, created by the Federal Reserve, of 926% since 1955 may have had an impact on how much the average person has left to save for retirement.
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This is sad.
How the fuck did I end up in the 90th percentile?
It’s especially sad when an uneducated idiot like myself who has worked a dozen different jobs in a dozen different fields over 33 years can out perform all these college educated idiots.
IS – it is not what you make that matters, but what you spend. And most folks spend more than they make. Obviously that does not apply to you.