A startling new report issued by the non-profit National Institute on Retirement Security found that despite the "recovery" of the last decade leading to all time highs in the stock market, the savings levels of Americans who seek to retire are "deeply inadequate". In fact, the median retirement account balance among working individuals was found to be $0.
The report notes that retirement savings have been, and will likely be, correlated closely with income and wealth. The study found that individuals with retirement accounts generally have more than three times the income than those without accounts.
The report found that more than 100 million Americans that are of working age don’t have any retirement account assets in an employer sponsored 401(k) type plan, individual account, or pension, at all.
To make matters worse, 4 out of 5 working Americans were also found to have less than one year's income in their retirement accounts. Even those that are trying to save for retirement are failing to do so effectively, according to the study. It’s stated that 77% of Americans come up short of even the most conservative retirement savings targets for their age, based on estimates that have them working until age 67.
The analysis also found that "a large majority of working Americans" can’t meet a substantially reduced savings target.
Diane Oakley, who authored the report, stated: “The facts and data are clear. Retirement is in peril for most working-class Americans. When all working individuals are considered — not just the minority with retirement accounts—the typical working American has zero, zilch, nothing saved for retirement.”
She continued, "What this report means is that the American dream of a modest retirement after a lifetime of work now is a middle-class nightmare. Even among workers who have accumulated savings in retirement accounts, the typical worker had a low account balance of $40,000. This is far off-track from the savings levels Americans need if they hope to sustain their standard of living in retirement."
Additional findings of the report:
Account ownership rates are closely correlated with income and wealth. More than 100 million working age individuals (57 percent) do not own any retirement account assets, whether in an employer-sponsored 401(k)-type plan or an IRA nor are they covered by defined benefit (DB) pensions. The typical working age American has no retirement savings. When all working individuals are included—not just individuals with retirement accounts—the median retirement account balance is $0 among all working individuals. Even among workers who have accumulated savings in retirement accounts, the typical worker had a modest account balance of $40,000. Three-fourths (77 percent) of Americans fall short of conservative retirement savings targets for their age and income based on working until age 67 even after counting an individual’s entire net worth—a generous measure of retirement savings. Public policy can play a critical role in putting all Americans on a path toward a secure retirement by strengthening Social Security, expanding access to low-cost, high quality retirement plans, and helping low-income workers and families save.
Jason Cook
The report found that the gap in retirement account ownership has been widened by growing income inequality, which is being fueled our monetary policy, which brutalizes the middle and lower class while rewarding major institutions and the wealthy.
The report's 'warm and fuzzy' conclusion? We are in a "retirement crisis" that may have "grave consequences", including increased demand for public assistance:
The heart of the issue consists of two problems: lack of access to retirement plans in and out of the workplace—particularly among young and low-income workers and families—and low retirement savings even among those who are saving. These twin challenges amount to a severe retirement crisis that, if unaddressed, will result in grave consequences for the U.S. In the coming decades, the continued decline in the share of older workers receiving DB pension income—a factor linked to reduced reliance on public programs—combined with inadequate retirement savings, is likely to generate increasing demand for public assistance, which potentially could strain government budgets at all levels. An increasingly dependent elder population will likely place increased strain on families and social service organizations. The “American Dream” of retiring after a lifetime of work will be long delayed, if not impossible, for many.
Meanwhile, despite having virtually no money saved up, millennials still want to retire early, as we reported in late July. The data presented then showed that "younger Americans are hoping to retire in their early 60s" and that for millennials, "61 is the ideal retirement age."
This is especially surprising given that as we've discussed time and time again, America's millennial generation is burdened by debt, effectively precluded from home ownership and increasingly disgruntled and pessimistic about their future prospects forwealth and happiness. But perhaps they are also a bit delusional or at least less than realistic at times, especially on the topic of personal finances and the future.
Add to this that it's no secret that people are living longer and many are staying in the workforce long past the traditional retirement age of 65, but it appears there's a vast disconnect between millennials' goals and their preparations to reach those goals.
Levi Lopez
Old people should just be exterminated.
Noah Reed
Does this take into account age? Because a 20 something saving for retirement is fucking idiotic if he can barely pay his bills. It repeatedly mentions "working age", and I can't imagine why you would immediately start saving for your retirement.
Gabriel Lopez
And their white privilege wealth redistributed to new immigrants or used as reparations..
Just wait!
Christopher Price
In theory you do it since entering the workforce, but due to scale of embezzelment in (((social security))) system there's not though tax revenue for current pensioners and you (assuming you're 25) will get absolutely nothing because there won't be any wageslaves to work for your pension. No kids, because you need to spend money on a fat obese manchild who works hard to embezzle your money.
Jose Ramirez
I hate jews.
Thomas Morales
That's just it, if you aren't putting 10% away now for life you're fucked.
Landon Cruz
When you have no income other than social security yeah that's pretty low
Brody Evans
Don't worry kiddos, mexicans will pay for everyone's retirement.
Yeah, old people should be shot on site. Fuck old people.
Adrian Morales
Except you generally have more income (and thus disposable income) as you age.
Jaxon Smith
This is cruel and not human.
Proper option would be stripping old people from right to posses property and income. This would fix economic problem of non productive people hoarding wealth and consuming GPD producing nothing but at the same time leaves place for compassion and care. If old people had rose families who loves them they could get voluntary based care from them (gifts should not be income by such law). But any sort of economic entanglement put on the children would be impossible (as benefits of entanglement are income and would be confiscated )
Aiden King
GAS THE OLD FUCKS AGE WAR NOW
Lucas Reyes
How about we cure aging?
Thomas Jackson
Why invest in savings when the baby boomer generation proved social security is a ponzi scheme? May as well enjoy life, life young, and work to death because there's nothing but shit health care that barely keeps you alive in the future.
William Rivera
And by savings I mean the retirement plans sponsored by banks.
Carter Sanders
Let me just take the philosopher's stone out of my ass real quick.
Leo Martin
I figured that out when I was 17, I am an hairs breath from 40 now. Not amazed at all that retirement is a fucking ponzi wet dream coming home to roost now. I knew better than to buy into that shit, and even way back then the anti-white male shit was massive, kept me out of college. Worked out for me, learning how to effectively kill subhumans seems to have prepped my mind for what is coming.
That said, I am far more aware now and utterly condemn boomers over this shit. I well and truly hope this economy vaporizes so they can look upon eating cat food as an luxury far out of reach. They sold my generation down the river, fucked by their utterly massive hedonistic numbers, their refusal to breed more white children and their continuing support of this corrupt system while talking down to the youngest kids just coming into their own for being 'less' than they somehow were. At least the younger generations have become self aware of the jew problem, you should have seen the totalitarian control over our minds when they controlled all avenues of media and social thought. I never even knew what an actual jew was until my thirties, much less been able to pick one out of a crowd or known why they are so vile and evil. Now middle school kids joke about them and point them out while mimicking the chan's old memes.
Retirement is the grave. And ass cancer is too damned good for the fuckers getting into retirement age now. Only reason SS and the vaunted stock market are not utterly wiped out is because the feds are the only major buyer of stocks and continue to backstop that shit. So the end is close for this shitshow thankfully.
Start there, this is going to get nasty when it hits. And will last for decades, assuming we win.
Everyone should buy BUY, cash down, no loan or any of that shit as many small properties as physically possible and rent em out. It's automatically inflation adjusted income and at most you would need to hire a single handy man whenever shit fucks up and a grounds keeper to make the rounds once a month. There are hoops you can jump through to insure your property isn't section 8 eligible, otherwise you would be setting yourself up to hemorrhage money on property repairs and value loss.
Andrew Edwards
Wage slave here. I work a shit job make 9 bucks a hour 40 hours a week. I make a game of saving every possible penny within reason. I drive a 1988 chevy and plan to keep it forever. I have the cheapest cellphone plan. The biggest thing is I don't pay rent. I live on a family owned lot. I save over 70% of the money I make easy.
why would you put money into a retirement fund? it just gets the jewbbqnkers fatter. these people arn't concerned with a retirement crisis, they're concerned about their profit margin from using other people's money for their investment games.
I will not be participating in this fiat scheme. 100% of the money i make that i can't keep from the federal tax thieves goes into making me self sufficient. my retirement will be paid for by the fruits of my farm/ranch/crafts and not by some arbitrary numbers in a rigged game.
Aiden Cruz
And when the banks crash again, you'll lose everything you saved.
Asher Hughes
Stopping work and mooching off of others or consuming the inheritance of your offspring until you die; a completely jewish invention The men and women who founded Europe and America would be horrified seeing millions of white people laying on their fat asses and expecting the children of strangers to feed them.
Old people who actually worked for a living should not be able to live? Why? So the State can steal their money and DEFINITELY NOT hand it to no ones like you? Or do you think you'll actually get a piece of the stolen pie?
Ian Smith
The State just wants to steal from the haves… the State has no intention to give it to the have nots. Be warned because it could happen in your lifetime.
Isaiah Jones
Is that the reasoning why you don't save? because that's pretty stupid.
Leo Cruz
Thats the way to do it user. Good work.
Caleb Phillips
You should save, just don't put it into a ponzi scheme and minimize your bank holdings.
Charles Nelson
In other words, COMMUNISM.
Jacob Flores
I have a unionized job with a pension. I had more money saved in one year than you probably have all together in your bank account. Doesn't change the fact that Jews run our finance system and can fuck us all over at will.
David Kelly
Fuck off Marx.
Gabriel Sanchez
well eh I don't know. Your gonna 87 years old trying to get by selling a basket of fruit on the side of the road?
Yes when it comes to your money (((diversity))) actually is good
Not without fucking themselves over. I'm sick of all this jew shit. Kikes belong in the oven no one denies that but today no kike is to blame for a American no having money. It's your own lack of foresight and self control.
Why save when it seems inevitable some kike will get elected on UBI and drive inflation through the roof? Government won't let boomers starve as long as they can vote. Delay the collapse by 20 years and they'll never need to deal with it.
I plan to just commit suicide when I get to old. Fuck retirement, who wants to be all fucked up and broke with your half nigger grand-kids shitting up the place.
Xavier Foster
Why not go full commie at that point since there will be enough latino voters?
Daniel Sanders
If you're an aging boomer with an uncosted pension you're fucked.
Jordan Jenkins
GenX is well on their way as well.
Michael Evans
I'm shocked!
Joseph Miller
My parents each earn over 6 figures on their private retirement benefits. Neither has ever earned more than $90k a year in earnings. This is not average, nor is it typical. It's like the "over half of American homes are on welfare!!!" but they call welfare as shit like having a child and getting the tax benefit from that as welfare.
Elijah Gonzalez
fuck off kike
Zachary Barnes
I have a boomer parent still left that pulls in 3 different pensions because she married a guy that hopped between federal, state, military, and ss. Not to mention having the same benefits the senators have when it comes to health care because she was grandfathered in on an older policy. That's the abuse that needs to stop. That's the kind of abuse "the greatest generation" got rolling that many boomers took advantage of before corporations etc. got a bit wiser and nixed those abusive pensions. Of course in many places like commirfornia, State retirement benefits pass on to the grown ass adult fucking kids. Nothing like having a permanent drain on the coffers for life and with each new employee you add yet another hole. It's fucked.
Asher Cox
I would like to see you working when your 80 years old.
Wyatt Wood
*you're. Jesus Christ.
Evan Turner
Walmart greeter? kek
Jackson Torres
Kinda like how they call business subsidies "welfare".
I heard a liberal say that the government buys votes by promising to steal less money from business when I claimed that UBI is vote bribery.
Caleb Fisher
thoughts on the idea of living in a van?
Jack Walker
I have no fucking clue what your post has to do with mine. Your even admit in yours that it's abused and unearned public retirment. I very clearly state my parents PRIVATE retirement is over $100k/year each. They each averaged something like $50k - $75k a years. Nothing spectacular.
No. Like 15% of white families are and like 95% of blacks are.
Kayden Gonzalez
Universal income is kikey shit.
Lucas Campbell
Leaf here, we factor this in which is why we like our single-payer plan. (Of course we spend money normally used on medical on the HVAC jew.)
Julian Hughes
Day of the pillow soon
Justin Stewart
It's wonderful if you know how to (((game))) it.
Eg: City X has a universal income. You rent a small apartment there, collect it, sublet to a Chinese student, then take that money while you live in your paid-off house elsewhere. This is how kikes explained why they love it.
Chase Brooks
Fuck off. Reported for being a fucking kike.
Kevin Walker
Move to Thailand, Laos, Vietnam or some other place with a very low cost of living.
Matthew Bell
Fuck off with your autism.
Jordan Walker
you have it made then rent and mortgage are the biggest jew rips in the monthly expense having no debt and being able to survive for 2 months on savings puts you ahead of 90 percent of working americans, as depressing as that is
Brody Wright
YOUTH-WING DEATH SQUADS
Evan Butler
That's the Smith and Wesson retirement plan, I'm signed up too.
Andrew Mitchell
I don't understand why old people crotchet around hanging onto life, if you didn't live it 30 years ago it's not happening. Those 40 pills you take everyday to keep you alive costing you your whole SS check? Take double and end it.
Aiden Robinson
40% of the population is not employed, it's not exactly unbelievable half of homes get welfare.
Bentley Williams
The point was the abuse happened everywhere. I read your "private" as that of a private company, or do you mean they invested in stocks/401k etc.? A lot of private companies back in the day offered actual retirement pensions.
Landon Jones
Grow the fuck up little girl.
Austin Anderson
KILL EVERYBODY UNDER 40
Matthew Allen
Only way you can cure aging is by drinking babies blood and leeching off the younger generation like a vampire.
Robert Peterson
Of course they would never put in the protections required to make a UBI anything more than another hole to bleed the host from.
I don't want to sound like an intergenerational D&C shill, but fuck boomers.
They rode out the good times, some thought these would last forever and they didn't save shit.
Millennials and the next generation are much more marginalized. I'm 30 and I wouldn't be able to rent my own shoebox apartment in major cities in Europe where all the jobs are. That's how kiked the world is right now.
Bentley Howard
We are learning to reverse aging through white science. The jews are terrified we will become immortal before they do.
David Morris
Fuck them as in have sex with them or fuck them as in kill everyone who is over 40?
Hudson Kelly
No one has the willpower to fix anything, without religion there's no conviction- we're headed toward some unholy combination of open borders, basic income and a federal jobs guarantee. We'll print ourselves into oblivion - demographics is destiny.
in Europe I wouldn't park outside cause you never know what kind of savage will break in and murder you or throw in some fireworks if they see condensation on the window for the lulz
renting a garage is a must
if you factor in all the inconveniences in comparison to renting a room with strangers I'd go for the room as the cost is roughly the same factoring in the costs of ownership of a car as well as the garage rent
Connor Garcia
Imo…there should be mandatory loss of rank within a company to make way for the younger worker. I mean if there is some boomer sitting on the board or VP of a company that makes 6 digit after 30 years - Make it mandatory for him to step aside to allow the up and coming employee move up. Just like in the military where you are retired no matter what at 65. Old people are stagnating business by sticking around. 80+ people should be put in an assisted living place (not nursing home), but a place that gets them out of the way.
It's the old people that are constantly living in the doctor's office sucking off medicare that need to be euthanized. A total burden on their kids and grandkids. Imagine being 50 years old and having to change your mother's diaper all day.
Chase Davis
You won't cheat God. The financial system that allows white science is a kike invention brought to Europe by the Knights Templar from the Temple mount. You might extend life, but only by Lucifer system which has its own costs.
Let everyone homestead again so they don't have to pay a kike to have a roof over their head and it would help a bit.
Brayden Taylor
It’ll work in the post-FedRes world, but it can’t work to help us NOW, is the problem.
Owen Martinez
We will need pedal powered pillow smothering machines, like those used at Auschwitz to kill at least 6 million Jews.
Hunter Campbell
"as many as physically possible" When I bought my first condo I was still living paycheck to paycheck in a studio apartment for another 3 years saving literally every penny I got my hands on to buy myself my own. Currently I own 6 houses/condos I am renting out to 8 families and I'm living comfortably in my own home after decades of scraping by. It's certainly not a get rich quick scheme or "just stop being poor" thing, it's genuine advice for securing your retirement over a long life of effort.
Josiah Rogers
We most certainly will and have already.
Example 1, they made a work live 3x's longer. So god was cheated twice right there. We will figure out how to do it in humans sooner or later.
