XPost: talk.politics.misc, alt.retirement, alt.politics.usa
XPost: alt.elections

https://www.newsnationnow.com/us-news/heres-how-much-the-average-american-has-in-retirement-savings-by-age/

By age 30: Save 1x your income
By age 35: Save 2x your income
By age 40: Save 3x your income
By age 45: Save 4x your income
By age 50: Save 6x your income
By age 55: Save 7x your income
By age 60: Save 8x your income
By age 67: Save 10x your income

. . .

Ummmmmm ... you CAN'T SAVE more than 1x your
income. Even with CDs and such - just AIN'T
HAPPENING. If you ain't GOT it, you can't SAVE
it. Doesn't this make any sense ??? Do the
numbers.

The article goes on to list "median" and "average"
total life savings/value by age brackets. "Median"
and "average" are NOT really the same thing.

The BEST figure, "average", shows that those on
the brink of retirement age have maybe 600K in
ultimate value. This is NOT enough anymore.
Something like 1M or better is suggested by
most experts. And no, SS ain't gonna pay SHIT.
You'll be lucky to see 2.5K/month and that's
only if you put off retirement until you're
too old to walk.

This is just BAD BAD BAD.

A few eastern countries still respect age/wisdom,
but western countries are totally dedicated to
trapping and ripping-off the youngest gen and
don't give a shit about retirement-age people.
The plan is to basically dump you in some kind
of minimalist govt old-age Death Camp so you
can die quickly in agony and not bother anyone
anymore.

Is THIS what you worked for ???

And no, neither 'liberals' or 'conservatives' in
their current incarnations GIVE A SHIT.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.retirement, alt.politics.usa
XPost: alt.elections

On 5/5/2024 10:29 PM, 68hx.1807 wrote:

https://www.newsnationnow.com/us-news/heres-how-much-the-average-american-has-in-retirement-savings-by-age/

    By age 30: Save 1x your income
    By age 35: Save 2x your income
    By age 40: Save 3x your income
    By age 45: Save 4x your income
    By age 50: Save 6x your income
    By age 55: Save 7x your income
    By age 60: Save 8x your income
    By age 67: Save 10x your income

. . .

  Ummmmmm ... you CAN'T SAVE more than 1x your
  income. Even with CDs and such - just AIN'T
  HAPPENING. If you ain't GOT it, you can't SAVE
  it. Doesn't this make any sense ??? Do the
  numbers.

I'm guessing they mean that by saving 5% to 8% of one's one's income
each year until age 30 and adding in modest compound interest one should
have one year's salary in the bank by age 30.

  The article goes on to list "median" and "average"
  total life savings/value by age brackets. "Median"
  and "average" are NOT really the same thing.

  The BEST figure, "average", shows that those on
  the brink of retirement age have maybe 600K in
  ultimate value. This is NOT enough anymore.
  Something like 1M or better is suggested by
  most experts. And no, SS ain't gonna pay SHIT.
  You'll be lucky to see 2.5K/month and that's
  only if you put off retirement until you're
  too old to walk.

  This is just BAD BAD BAD.

  A few eastern countries still respect age/wisdom,
  but western countries are totally dedicated to
  trapping and ripping-off the youngest gen and
  don't give a shit about retirement-age people.
  The plan is to basically dump you in some kind
  of minimalist govt old-age Death Camp so you
  can die quickly in agony and not bother anyone
  anymore.

  Is THIS what you worked for ???

  And no, neither 'liberals' or 'conservatives' in
  their current incarnations GIVE A SHIT.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.retirement, alt.politics.usa
XPost: alt.elections

On 5/5/2024 9:29 PM, 68hx.1807 wrote:

https://www.newsnationnow.com/us-news/heres-how-much-the-average-american-has-in-retirement-savings-by-age/

    By age 30: Save 1x your income
    By age 35: Save 2x your income
    By age 40: Save 3x your income
    By age 45: Save 4x your income
    By age 50: Save 6x your income
    By age 55: Save 7x your income
    By age 60: Save 8x your income
    By age 67: Save 10x your income

. . .

  Ummmmmm ... you CAN'T SAVE more than 1x your
  income. Even with CDs and such - just AIN'T
  HAPPENING. If you ain't GOT it, you can't SAVE
  it. Doesn't this make any sense ??? Do the
  numbers.

Actually, you subliterate innumerate moron, that's not what
the article states.

The table plainly shows that one should have 10x one's income
saved by age 67. If one is earning $100k / annum, one should
have accumulated $1MM in retirement savings.

Have you already been this stupid? Wait, don't answer. You
obviously have.

Fuck off, idiot.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)

XPost: talk.politics.misc, alt.retirement, alt.politics.usa
XPost: alt.elections

On 6/12/2024 1:42 PM, Cune I. Form wrote:

On 5/5/2024 9:29 PM, 68hx.1807 wrote:

https://www.newsnationnow.com/us-news/heres-how-much-the-average-american-has-in-retirement-savings-by-age/

     By age 30: Save 1x your income
     By age 35: Save 2x your income
     By age 40: Save 3x your income
     By age 45: Save 4x your income
     By age 50: Save 6x your income
     By age 55: Save 7x your income
     By age 60: Save 8x your income
     By age 67: Save 10x your income

. . .

   Ummmmmm ... you CAN'T SAVE more than 1x your
   income. Even with CDs and such - just AIN'T
   HAPPENING. If you ain't GOT it, you can't SAVE
   it. Doesn't this make any sense ??? Do the
   numbers.

Actually, you subliterate innumerate moron, that's not what
the article states.

The table plainly shows that one should have 10x one's income
saved by age 67. If one is earning $100k / annum, one should
have accumulated $1MM in retirement savings.

Have you already been this stupid? Wait, don't answer. You
obviously have.

I think the same guys who can't figure this out are the ones who
complain that a public servant at age 70 can't possibly be a millionaire.

Regular savings and the magic of compound interest are powerful things.

--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)