Thread: 43% of Americans have saved less than $10K for retirement

Wow, It's like deja-vu!
Newbies to investing

If you vote for BHO next time around you'll be promised an easy retirement so not to worry.

Originally Posted by Birchtree

If you vote for BHO next time around you'll be promised an easy retirement so not to worry.

Is that when we go to the "single payer" system where each person who has an income contributes the entire amount to the government who in turn equally disseminates it out to everybody in the country?

http://www.youtube.com/watch?v=P36x8rTb3jI

Originally Posted by James48843

Most Americans still unprepared for retirement - survey

The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.

The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute's annual Retirement Confidence Survey. That excludes the value of primary homes and defined-benefit pension plans.

Workers who said they had less than $1,000 jumped to 27%, from 20% in 2009.

54% of Americans have less than $25K stored away.

http://finance.yahoo.com/news/Most-A...6&asset=&ccode=

Why should they save when the government has promised to fix social security? You can try to tell people that social security is not enough, but they will not listen until it's too late and they are at the grocery store buying cat food for themselves!

What ever happened to self discipline, or common sense.

Originally Posted by mayday

What ever happened to self discipline, or common sense.

It died as Socialism and entitlements became stronger. Why work when Uncle Sugar will just give ya money stolen from the productive Americans in this country.

Lets not forget that these savings rates falling are also the affect of being out of a job for an extended period of time but it is not news that alot of Americans do not save enough.

Originally Posted by CountryBoy

It died as Socialism and entitlements became stronger. Why work when Uncle Sugar will just give ya money stolen from the productive Americans in this country.

There are some people who think $10K is a lot of money. They will be working until they drop dead.

This statistic just tells me that the majority of Americans are living in la-la land.

It's nice to be retired at 52.

Shocking stuff... I got out of school 2 years ago, got my first real job 1.5 years ago, and have just under 10k in my TSP....

Originally Posted by peterson82

Shocking stuff... I got out of school 2 years ago, got my first real job 1.5 years ago, and have just under 10k in my TSP....

You are in the minority......go to your designated Xtra tax center and donate to the healthcare bill....do not pass go, do not collect $200.

Actually, before the illusion lifted in 2008, there was no reason for most people to save because it was more advantageous to borrow. This was especially true in the 80's and 90's, inflation ate all of your interest away and then some.

You could play the stock market with your retirement dollars, but some people got their shirts handed to them in 2000 and weren't looking for a repeat.

There was no safe place to store your money. And don't say government bonds, they really don't get you much of anywhere when inflation hits.

We get matching. We are the elite, the few, who get this privledge.