Singles swing into retirement with little savings

  • metta

    Posts: 39144

    Apr 18, 2013 11:24 PM GMT
    Singles swing into retirement with little savings

    Being that there are a lot of single gay people out there, I think that this will probably apply to many of us as well.

    In his review of the study, Utkus noted that the top 30% of married households had savings of $332,400 or more while the top 30% of single-person households had just $90,000 or more. The bottom 30% of married households, meanwhile, had less than $24,000 saved while the bottom 30% of single-person households had less than $800.

    http://www.marketwatch.com/story/singles-swing-into-retirement-with-little-savings-2013-04-18?siteid=nwhpf
  • metta

    Posts: 39144

    Apr 29, 2013 8:12 AM GMT
    How the Trailer Park Could Save Us All

    "Every day since January 1, 2011, some 10,000 American baby boomers have retired, and that will continue until 2030, when people over 65 will make up 19 percent of the population (up from 13 percent today). Old is the new boom and it is changing the culture and the conversation. (Have you seen all the sexy talk in Betty White’s reality show?) In Washington, D.C., anxiety about the decreasing proportion of workers to retirees underlies the frenzied discussion of entitlement reform.”

    "Baby boomers aren’t going to retire the way their parents did. They are poorer and more likely to live alone. They can’t depend on pensions, and the real-estate bubble destroyed almost 50 percent of their wealth. Today one in six seniors lives in poverty, and that proportion is rising; the generation of Americans now facing retirement is so financially ill prepared that half of them have less than $10,000 in the bank. The coming swell of retirees will strain our current system to its limits—in terms of not only health care, but also incidental things like road signs, which are hard for drivers over 65 to read in a majority of American cities and towns."


    http://www.psmag.com/health/how-the-trailer-park-could-save-us-all-55137/
  • metta

    Posts: 39144

    Sep 02, 2013 4:05 PM GMT
    The Financial Planning Flowchart

    http://www.businessweek.com/articles/2012-12-20/the-financial-planning-flowchart#r=nav-img




    The investing issue:

    http://www.businessweek.com/reports/markets-and-finance/the-2013-investing-issue
  • rnch

    Posts: 11524

    Sep 02, 2013 4:59 PM GMT
    Not This Single!

    One of the many reasons I have stayed with my barely-adequate salaried Fed civil service job was for the excellent retirement benefits.

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  • Posted by a hidden member.
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    Sep 02, 2013 5:21 PM GMT
    Baby boomers (collectively) did this to themselves. Even the couples with $330,000....how far will that go? The fact that boomers are the most educated generation of Americans...makes me question the value of a college education.

    Just two of many self defeating behaviors so popular with boomers...

    1. Love imported made products, from cheap Chinese junk at Walmart to expensive European automobiles. One unintended consequence is that millions of FORMER Westinghouse, GE, Ford, GM, etc. workers can no longer afford your products or services on their new, low wage service jobs. Buying imported goods is a cycle that comes back to bite everybody. Meanwhile, China is minting new billionaires, and German workers enjoy the benefits baby boomer parents used to get.

    We've had 30+ years of record trade deficits. Like Warren Buffet says....every year, this is like selling off a little bit of the farm so we can eat better. Its a very large farm, but one day we're going to realize what we've done to ourselves.

    2. Voted for politicians who lined their pockets, while CEOs shut down US factories and opened up new ones in China. A simple law requiring these companies to retrain workers would have helped, but would have cut into the millions in stock options and bonuses made by C level executives.

    Yeah baby boomers....keeping leasing those new BMWs and Mercedes, shopping at Gucci and Prada...while disparaging several great American designed and manufactured products from US companies like GM and Ford, True Religion Jeans, etc.

  • Posted by a hidden member.
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    Sep 02, 2013 5:34 PM GMT
    metta8 saidthe generation of Americans now facing retirement is so financially ill prepared that half of them have less than $10,000 in the bank. The coming swell of retirees will strain our current system to its limits—in terms of not only health care, but also incidental things like road signs, which are hard for drivers over 65 to read in a majority of American cities and towns."


    And yet whenever one of us mentions the over $100 trillion in unfunded Federal liabilities here, we're insulted, made fun of and called liars.