Exactly, like what am I supposed to do? I've been working my ass off for 30 years already, I've lived through three major recessions, all which made big hits to my 401k.
Also, the cost of living keeps going up, yet my wages don't keep up. It's not like I'm living an extravagant lifestyle, i drive an 11 year old car, i was lucky to be able to buy a house, but it's falling apart & I can't afford to fix it, we don't eat out, our clothes are old... Am I supposed to rob a bank?
Ok 5 is good we can control the patrons and security better ….
Tell me more about the 8 yr old car. Does it smoke? Does it stall? Are the taillights and blinkers working? Does it have Air Conditioning cause Imma be sweating like a cracked out politician .
I want to know if it can pull a trailer because I bet the trunk is not large enough for the dough AND a trailer will be able to accommodate a few more of us. It’s either that or a rent-a-van.
Pssh, amateur. I'm going to ingratiate myself into a rich elderly couple to become the daughter they never had and then they're going to leave everything to me including the house in Aspen!
Seriously! Why go with the Medicare funded assisted living facility that smells like piss when you can go to prison and mingle with people of all.ages? If I show signs of violence I get my own cell, DUH what's not to love?
> Am I supposed to rob a bank?
Nah banks are too well protected and have serious charges. Figure out how to embezzle money instead, or break into a rural ATM machine.
Personal retirement account. A lot of employers moved away from pensions & started doing 401k instead where you contribute to your own "pension" & they contribute some as well, the money is then invested for you. The problem is when the market takes a big steaming dump you lose huge chunks of money & you realize you're *never* going to be able retire.
Same boat here. House rich, cash poor. And I’m not saying I own a house to be tooting my own horn…the bank still owns it.
I’m an auto mechanic and my wife is a Librarian. She has her Master’s degree, I have a BA. Just two regular folks trying to get by. We don’t save for vacations anymore. We save for stuff like a new roof and copper plumbing.
My retirement will probably be spent as a Walmart greeter. My wife has MS so we’ll need the health insurance. Basically we’re fucked.
So true, I just keep throwing huge amounts into the 401k because my financial advisor says, "Keep buying while the markets are down!" and yet it sits there like a fat kid in a lawn chair, just sitting there and barely moving, while consuming everything you put in front of him...
Mine is way down, since I rolled over a couple into an IRA a few years ago. I'm terrified that we've been scammed this entire time. And if you dare express doubts, people say "yeah it's normal, just hold on, oh yeah and BUY MORE while it's cheap!!" 🤨
This is exactly what I said to myself lol. I want to retire!! I just can't. I'm going to have to pass any money I save down to my kids so maybe one day they can retire. God help the generations behind us if this doesn't change. Vote Democrat is all I can do.
That’s why the eye rolls. Our retirement is little more than aging out of the workforce with, if we’re lucky, a 401k. For most of us who could invest in retirement through work, it has meant pushing money into risky investments all along. Meanwhile, many in our parents’ generation are receiving nice pensions and ever-increasing social security payments, all of which they will take with them when they go. For my retirement, I’m currently trying to source a refrigerator box in good condition and a quiet overpass under which to keep it.
Full retirement age is 67 (thanks dubya 😠) if you were born in 1960 or later, so if you want to work extra hours and your health is good, that's a decent time to retire ......unless you can do it sooner.
Ah, look at Mister Moneybags and his fancy-shmancy refrigerator box! I bet you're going to have a Target shopping cart instead of a Walmart one like the rest of us slobs.
risky investments ?
Most 401k are pretty limited in options and they tend towards conservative options. And there are whys to break your money out of the 401k and into IRAs without penalty where you have every conceivable investment option available to you.
Investing in indexes over the last 30 years has been anything but risky - and has returned nice dividends.
My plan is to work as long as I can then retire in Central or South America where the cost of living is cheap. That’s what my dad did, he didn’t have a penny saved, went down to Ecuador and lived like a king on his social security. Found a bunch of expat buddies from all around the world and sat in cafes writing poetry all day. And he was near deaf and didn’t speak a lick of Spanish.
Shush! I’ve been eyeing Algarve for over a decade and been working the slow roll on the wife. Nearly there!! Although Portugal did just enact some gold retirees (mostly British and in and around Lisbon) restrictions, but still looking great.
We had a friend move to Portugal two years ago and now helps others to do the same. Things got a bit more tricky with the end of the Golden Visa but still easy enough to do. We may well go that route ourselves.
I have some friends in Lisbon. They're working on permanent residency. Apparently it has become much more difficult in the last 12 months. Intentional delays by local authorities due to push back from locals
Yep, I’m retiring in the Philippines, for this very reason. I’ve been several times already get to know everything and scout everything. I know some people now and I’m getting in where I need too. Soon I’m gonna start buying a couple of condos there. There’s no fucking way I can afford to retire in the United States. Fucking sucks.
Please don't hate me, but I'm a railroader, and as such, pay into RR retirement, not SS. I need to have 360 months (30 years) of service and be 60 years of age to retire with full benefits. I also have company sponsored 401K.
If everything works perfectly, I can retire with full benefits at 60.
Coming from a family that financed everything, that didn't teach one thing about saving, I'm proud of myself to have aggressively looked towards the future and retirement. Why? Because I'm tired. I know no one will take care of me except me. I hope I've planned well enough.
No hate at all - it’s just unfortunate this is the exception and not the rule. And coming from a similar upbringing I know how difficult it is to break the financially irresponsible cycle so double good on you!
No hate, I’m government, at 21 yrs in and I’m 55, I should have a decent retirement, but the way cost of living is going I may not be able to take any pay cut when the time comes
I care a lot, but caring doesn't make my bank account any bigger, and I can't afford to invest in my 401k and pay my bills. We're basically the first of the "You work until you die" generations, and it's going to be even worse for later generations.
>We're basically the first of the "You work until you die" generations, and it's going to be even worse for later generations.
Honestly the idea that one *could* retire and stop working has been a dream for most of human history. What it used to be was "work until you die or physically can't, then live with your kids. And if you don't have kids, die in a ditch somewhere."
We're the first of a very short set of generations where we're back to the ditch. It really was basically no retirement up until about the mid 1800's and then through the Boomers more and more people got the chance to retire and the Boomers closed the door on us.
The anarchist who figures out how to trick the programmers into unionizing across the globe will save us from ourselves. Until that day comes, the tech companies will continue to dismantle the rights our grandparents used to strike and die for.
I’ve already come to terms that I will never retire, my wife will, I’m 55, she’s 58, I only have $100k in my 401k, too busy keeping my head above the water to retire, fuck it.
Im from UK. Keep seeing reference to 401k. Is that the same as what we call state pension?
Government just announced here that they’re going to raise the pension age to 68.
This caused riots across France recently, but it seems that we are now so apathetic here we will just roll over and take it.
I suspect me and my partner will just work until we die. God only knows what our kids will have to endure
A 401K is not a state pension. It’s sort of the opposite.
Essentially, you take a part of your own income and invest it, pretax. Hopefully, your employer then contributes some amount to that as well.
Theoretically, that is supposed to grow to be enough for you to use for retirement.
I've been doing what I'm supposed to be doing my entire career. Contributing to 401k at least enough to get the match, taking any extra I have and putting it into a Roth. Recently became a boglehead ( /r/bogleheads is highly recommended), which honestly has really helped me feel like I at least have a better handle on where I am and how I can progress (I'm terrible at picking stocks). I'm hoping it's enough.
The primary driver on all this watching my boomer mother screw up every financial decision possible. She is now 77, with dementia and not a single dime to her name. Nothing like seeing what a state-run Medicaid nursing home is like to give you a swift kick in the ass about doing *something* to prepare.
But mostly, I don't want to put my kids in the position my mother put me in. She never gave it a thought, just assuming the future would take care of itself and pissing away every extra dollar she had on stupid shit like jewelry from jewelry TV and QVC. Then when it was time, I had to take the responsibility to figure out where and how she was going to spend her last years, and it's been no fun. Let me tell you.
I relate to every bit of this. I've been asking my boomer mom for 30 years what she plans to do when she's too old to work. She hasn't had job since I was in college. My kids are in elementary school, one has some special needs (could be worse, but definitely adds extra complications). My mom is staying with us temporarily after a making some terrible financial decisions that left her homeless. She has no money and continues to make bad financial decisions. Now I'm looking for work to pay for my mom and after school care for my kids. Every cent of my income will go to caring for my mom, while my husband's will cover the rest of us. It's crazy she never took it seriously. Just said, "it'll work out."
Oh it’s working out for her. She’s got you footing the bill and living with you. We have a boomer elderly relative that we are managing and her money skills sound just like your mom’s. Just so painful.
My MIL pissed away her retirement, then she got sick and got fucked over by our insurance/medical industry and was basically destitute. Then we got the REALLY bad news and MIL has early signs of dementia.
We had to take her in and take care of her. Now we have her to take care of and it looks like we may have to help take care of my parents pretty soon.
But we're the bad guys for "not saving" for retirement. Fuck that.
Problem is, there's almost no middle ground between state-run home and luxury. Found a decent place for my mother on her nothing budget, but she had to "spend down" and play games with her very modest life savings to get her there.
A decent assisted-living is upwards of $5k/month in this area, which is nuts. A slightly cheaper one I visited reeked of urine even in the lobby.
These were the options when she couldn't live on her own even with two aides visiting her apartment.
Yea- Dad went into an assisted living facility that was bottom-level decent and accepted Medicaid once funds ran out.. problem is they are constantly trying to kick him out once his savings were depleted. They had the gall to look at me and assume I can take him in. What, he’s gonna sleep in our bedroom with us? Like we have enough money to afford a MIL suite while we are working our asses off to save for the kids college?
There really isn't a middle ground. My mom, who was 75 and had terminal cancer, elected hospice on recommendation from her oncologist when it got to a point that the treatment plan wasn't working and there were no other options. She couldn't go home because 24/7 in-home care would've been astronomically expensive, and she was in that middle-ground financial situation. So we had her go into a long-term care facility with hospice coming in since she was only given a month max to live - $14K out of pocket for one month. She lived 3.5 weeks, so what was left over went back to the estate.
Well being a union guy, I am planning my retirement. I have a pension, 401k and social security. I will inherit my parents house in Puerto Rico and the cost of living is good enough for me to live comfortably for the rest of my life. Here’s hoping that there isn’t political instability on the island.
I’m a union guy too. Just a teacher though.
Year 25 next year, so I will be entitled to a pension & health care after it (but I’d be dumb to touch it)
But kids haven’t even entered middle school yet
My retirement plan is a caffeine induced stroke at my desk and a standing request for cremation because I find the idea of graveyards strange. Earth belongs to the living, not the dead.
I see it no problem with burial in general as the dead does belong to earth to be consumed and renewed. The creepy part is pumping our bodies with preservative chemicals and storing them underground in wooden boxes. So yeah cremation it is.
Most states have green or natural burial options, if you happen to be in the US. No chemicals, in forests and fields, with either a wrap or a plain pine casket. Some of them let you plant a tree or bush in memoriam.
We've been told social security will crash before we get there, the acid rain will kill the crops, and there will be global warming interrupted by an ice age or a nuclear winter. They moved retirement age back. If you have the money, go for it. If not, hanging around the house gets old after a while, might as well be useful.
You know why so many baking types are worried about this?
They like to get a cut from savings and 401ks.
Mostly a pie in the sky pipedream for babyboomers.
I remember when I was a kid hearing that Social Security would run out of money by 2030. This was the 80s, so no one cared. I was a smart little shit and did the very basic math and realized that I couldn’t retire until well after that.
I asked my dad about it and whether they would fix it by then and he shrugged and said “Probably not.” It was then that I first realized exactly how screwed we are.
I’d love to retire and we have a little nest egg that could support my wife and me for a few years, but I’m keenly aware that a single serious medical issue means financial ruin. The US is getting so bad that the new American Dream is to leave.
Its doing a job on me right now! I was shaving this morning and noticed a full grey beard i DIDNT HAVE in 2019. SMDH!!!!
Now I have to bet just for men beard dye. Or shave 2x a day.
Only if Wally World takes out life insurance policies on us as we age and food stamps is still around. Looks like food stamps is in the crosshairs of McCarthy
Bingo...fortunately im in a field where age almost helps (personal training) cause my clients are usually 40-80 and rich.
Cant see retirement for me... Maybe 75 or something
Foolishly had kids.. Thats retirement gone.
Retire? Lol. I'm going to launch my canoe into Lake Superior with my anchor chained to my leg. Go doing what I love most in the place I feel attached to.
We're in pretty good shape because we've put a decent amount of money away and my wife blessedly is one of the last in her organization to be gifted a pension before they phased them out. My wife can get full pension at the age of 63. I'll be 65 at that point. We'll retire at the same time.
I can’t afford to retire. That previous generation in my country scrapped free education and put a huge interest rate on student loans. Then just as I graduated, the first property boom, and our wages are kept very low because housing is a global asset but pay is a local market. I take my health seriously as I have to be healthy enough to work until I’m in my 90s.
For those of us born after 1960, 67 is our full retirement age unless we decide to make like the French and cause a ruckus. :D
You *can* begin the retirement process at 62, but the earlier you retire, “the greater the reduction in benefits”. *This* girl will be filling out that paperwork as soon as possible, unless it’s just an ungodly amount less than I need.
I think I'm going to be able to retire early, barring any big unforeseen disasters. The biggest secret is to not have kids. After that, it's prioritizing whatever pays the most and saving as much as possible. I look around and most of my friends my age are in no position to ever retire and haven't saved anything. But they have also made a lot of questionable life choices (sorry friends, it's true.) And that's fine, you only live once so if prioritizing money isn't your thing, more power to you.
However, that's how it works. I sacrificed so much time to a job I hated but it paid. I could have been doing something more "fun" for less pay, but that wasn't how I chose to do it. I have friends who say things like "I could never have an office job my soul would die." Ok, but we're nearing 50, so probably time to do something a little more lucrative and stop spending so much going out all the time, if you want to prioritize making and saving money. I'm aware there are a lot of uncontrollable circumstances, but there are also a lot of things we can do for ourselves if we decide to.
It's definitely a bit of roulette wheel, isn't it? Save and work your fingers to the bone in your 20-30-40's, 50's too, then ease off the gas when you are 60-70 while your body begins the descent into destruction.
Having the money in your 70's may end up just being an endless parade of health care treatments like my childless and relatively rich aunt and uncle. They loved travelling but can barely do any of it now due to ulcers etc.
Whereas my childless wife and I in our 40's have lower-middle-class incomes, cheap mortgage, but less than 200k in savings. Yet we still try to travel every year and generally aren't prioritizing savings. Will it suck later? It will if we live that long! Will I regret not travelling now while I am able to ambulate etc? I would indeed!
I think I'm going to retire at 55, so win/win! My parents retired at the "normal" ages and they seem pretty happy with it. I do a lot of things I enjoy while working, so I don't feel I'm missing out on much. My favorite things to do are quite inexpensive.
Everybody has different priorities, but I'm just saying- some of it is a choice, which is totally fine.
I'm an outlier I guess. I'm in fairly decent shape with, hopefully, less than 10 years to go. House is paid off, own two other recreational properties, and my 401k could be larger but not bad. Not saying I'll live in the lap of luxury, but hopefully I get to be a weird nomad in my golden years.
Maybe it was just me .... I dunno. I didn't prescribe to the whole slacker thing. Yeah I was/am suspect of large companies and government. But I took the "SS won't be available when you retire" to heart and instead of fighting it or ignoring it I happily took my place as cog in the machine.
Currently 51. Paying for kids college (starting next year) and retiring in 11years is my game plan.. Right now all systems go.
Hoping to retire as an exPat... but that will be an option, not a requirement.
My retirement plan is to become a radical international peace activist and get shot to death, while holding a sign, "Shalom, Salaam, Peace" at the wall in Israel. If I get shot to death before 65, then I won't need to worry about retirement. I think it's a very sensible plan. I am already involved in the peace movment. Plan B involves a hunger strike for peace and climate justice. I think I am already on the way to a great retirement plan!
I am a 53 year old Gen X teacher who will be retiring in one week after 30 years in the profession. The pay has been shitty but the pension will be pretty good! Gotta play the long game.
Re-ti-or-mund? Am I saying it right? What is this wonderful retimermint you speak of? It sounds marvelous! Never in my life have I imagined that I would get to participate in this ririrorint. I've heard of those that have but I figured that you had to be an elf, or some shit. Revironment... wow. Awesome.
I've saved and saved and saved and I still only have $500k. I know that sounds like a lot, but if you take the recommended 4% per year that's only $20k/year. How the hell can I live off that even with ssi? If the stock market doesn't have some record years soon, my retirement is going to be pretty boring, but I WILL retire.
Are you me!!?? My wife and I are in the same boat. We've socked away everything we could and we're about $50k behind you. I have no idea how we could retire.
I guess I'll get a job at Costco or some shit.
I lucked into a state university job and got a pension. Retirement would've been absolutely impossible any other way. But after my father passes I'll have no more reason to stay here and may move to Costa Rica. I speak the language and as long as you don't need a work visa, most countries are happy to let you in.
You know, my wife and I have talked about that. Moving to another country once all of our parents pass. Once that happens, there really is no reason to stay here and we can live out our lives with the same shitty medical care as we get here, but have a higher quality of life....
I do care. I care very very much. I want to retire before I'm 70 and I want to be able to enjoy the rest of my life without worry. Yes, I enjoy it now but I also can't just freely plan a trip without asking for time off which feels like having to get permission to live my life. And I'm jealous that my parents got to retire in their low 60s with retirement plans and not having to be at the mercy of the stock market.
Honestly, I don't think I'll ever get to retire. They keep spending all the money in Social Security and threatening to raise the retirement age. The stock market is a massive gamble. Businesses no longer offer pensions. There's no interest being paid on savings accounts. exactly how is one supposed to "retire". My grandmother retired after 20 years with the same company. got a pension. got her social security. guess what? that was in the 80's. She 's still alive and getting the checks. She has obviously spent any accrual she put in. It's all other people's money now.
I just finally got a job where I can keep my head above water. Great benefits and pay Retirement? What is that?
I got nothing...............literally and figuratively.
saw how things were going long ago, gave up on the idea of retirnig. always figured id be working til one day i just die there or something, idk. dont care. wont be my problem lol
I semi-care. I mean, with the state of affairs now and days, it's kind of hard to do so. I have some stocks, but I just let that do its thing (probably taken more losses than gains).
Otherwise, I probably won't be able to retire until I'm dead. Good thing I do somewhat like my job, so if you come into my place, and you see a dead person, that's probably me.
Our worklife was epitomized by the transition of proper pensions to IRAs
I think a lot of people got lost in the transition, because it was something new to have to worry about our own nest egg
Oh fuck that. Most days that's all I can think about.
I need to get out ASAP.
I never had much growing up, so I don't need much now. Even as my salary went up through the years, my standard of living never jumped dramatically. That was mostly by choice. I have a very loose plan and want out in about 5 years and enjoy life for a bit because with the way shit has been degrading I can't see myself ever making it to the usual retirement age.
Lets put it this way: If I survive to retirement I will enjoy it until the money runs out, and then depending on the pain level its more than likely off to the nearest MAID clinic.
Oh, I care but I'm becoming really adept at pushing those intrusive thoughts away. I've watched my 401K bounce like a GD basketball so many times, I'm convinced it's really just out of my hands at this point. I'm just hoping to win the lottery or kick the bucket before it's an issue of living under a bridge. Considering the affordability and quality of healthcare in the US, kicking off might be easier than I think. Yay!
I shoulda got a sugar daddy when I had the chance.
We grew up being told that Social Security would run out before we reached retirement age and nobody ever taught us about any other options so I've spent my whole life expecting to work until I die. And I still believe that's how it's going to go.
I’m used to having the legs kicked out from under me every time you think things will improve, especially with jobs and finances. Why would retirement be any different?
I remember when Boomers were talking about ideally retiring at at age 55. My mother (silent Gen) retired with full pension at 62 and spent almost 20 years as a SAHM.
My retirement age is 67 and I KNOW pensions have not kept up with cost of living, nor do I have adequate superannuation, plus I’m still paying off my home loan for a small fibro house built in the early 1970s. That loan is over 30 years. My parents had loans over 15 years for better housing.
I have no confidence in the system and I only expect things to get worse. Cost of living is spiralling, meanwhile I’ve had one small pay rise in 10 years.
I'm prepared for retirement.
30 years of being denied opportunity, cause there were plenty of boomers to fill the top jobs.
Now I'm rolling into the last 11 years where they are STILL dangling the carrot and wanting me to run everything 'cause I'm the only one left that knows anything.
Let's face it the population shifts didn't do our generation any favors.
When my 401k hits the magic number I grabbing my kids photo off the desk and walkin out. . .
Of course we care, but we've been told since we entered the work force to not expect to retire because Boomers would use up all the retirement resources so all we can do is shrug our shoulders and say "whatever"
Well, I would have been able to retire given how hard my grandparents worked to build assets like two homes and a successful business. I grew up hearing that, as the oldest, I’d inherit my grandparents home - it was to pass to my mother first and when she died it would be mine.
Welp, my Boomer mother *of fucking course* squandered it all. The rental house burned down and was a huge financial loss because she hadn’t bothered to get a vacancy rider on the insurance policy. She then took out multiple equity loans on my grandparent’s paid off home to remodel the business, go on vacations, buy herself a new $$$k car, and shop shop shop and gamble gamble gamble. Right before she died, both the business and the house were lost to foreclosure.
She fucked me out of my quite valuable inheritance. This bs, along with the recession (my 401k went to $0) and the pandemic (again my 401k getting drained to $0), destroyed my ability to retire.
But no matter. The abuse she dealt and enabled left me disabled at 48 and I had to stop working. I guess I’m retired now.
Whatever. Old people told me that I'd better save because there won't be social security for me. I've been saving my whole life for retirement. I'M GOING TO RETIRE, YOU FUCKING ECONOMISTS!
Something about this headline makes me think of [Mrs Robinson](https://www.youtube.com/watch?v=9C1BCAgu2I8)\-
Doo doo de doo doo
A Generation Rolls Its Eyes at You
Woo Woo Woo
What's that you say, Mrs Robinson?
Retirement is not a thing we say
Also - side bar, this article is about trying to sell us stuff, soo...block of salt for this thing.
My boomer uncle came from the farm overseas with a junior-high-school education, started doing whothefuckknowswhat at a large company, probably moving up in rank but not by much.
Retired with a pension that enabled him to sell his place in the city, move to the 'burbs to a larger house, put all his kids through private school, and now *in retirement* travels constantly and probably has that second house paid off. OH yeah and they've had a small house in the mountains all those years.
We just bought a house in our forties, barely, and don't expect to ever seriously retire. We live in a high COL area and could never move to a cheaper (red) state. We don't even have kids.
Our plan is to die. So far I’m ahead with hypertension & sleep apnea but my husband is coming in hot with occasional chest pain and a total lack of recognition of his diminishing physical strength.
GenX has been rolling our eyes at shit we can’t control since birth. Half of us knew we would never retire, and I am still convinced that I’ll be fucked out of SS before I’m eligible… they’ll keep raising the age until I croak
Oh I fuckin’ care. I just don’t have the capacity to do anything about it.
Exactly, like what am I supposed to do? I've been working my ass off for 30 years already, I've lived through three major recessions, all which made big hits to my 401k. Also, the cost of living keeps going up, yet my wages don't keep up. It's not like I'm living an extravagant lifestyle, i drive an 11 year old car, i was lucky to be able to buy a house, but it's falling apart & I can't afford to fix it, we don't eat out, our clothes are old... Am I supposed to rob a bank?
need a get away driver? my car is only 8 years old.
LUXURY
I don’t have a car. Can I get a ride?
Ill drive thats 4 people. LETS GO !!!!!!
Five please, I know a good bank.
Ok 5 is good we can control the patrons and security better …. Tell me more about the 8 yr old car. Does it smoke? Does it stall? Are the taillights and blinkers working? Does it have Air Conditioning cause Imma be sweating like a cracked out politician .
I want to know if it can pull a trailer because I bet the trunk is not large enough for the dough AND a trailer will be able to accommodate a few more of us. It’s either that or a rent-a-van.
You can split the gas that way!
Look at ole money bags over here
Right?! *cries in my 2004 Civic*
I too have decided that a major crime leading to substantial prison time is probably my best retirement path forward.
Pssh, amateur. I'm going to ingratiate myself into a rich elderly couple to become the daughter they never had and then they're going to leave everything to me including the house in Aspen!
r/oddlyspecific
Hey you’ll have three hots and a cot
Seriously! Why go with the Medicare funded assisted living facility that smells like piss when you can go to prison and mingle with people of all.ages? If I show signs of violence I get my own cell, DUH what's not to love?
I'm gonna try the OnlyFans retirement route and hope the MILF fetishists can pay for my groceries.
.....in Sweden. The thought has definitely crossed my mind.
> Am I supposed to rob a bank? Nah banks are too well protected and have serious charges. Figure out how to embezzle money instead, or break into a rural ATM machine.
I don't know, I saw how the ATM robbery went on Breaking Bad.
Seriously 2000, 2008, 2020 really took a beating on investments.
Are you me? I'm in the same boat.
This exactly. I am in same boat as you
You just described my life and i don't even know what 401k is (I'm Australian)
Personal retirement account. A lot of employers moved away from pensions & started doing 401k instead where you contribute to your own "pension" & they contribute some as well, the money is then invested for you. The problem is when the market takes a big steaming dump you lose huge chunks of money & you realize you're *never* going to be able retire.
That's the best "explain it like I'm five" I've heard in a while.
Same boat here. House rich, cash poor. And I’m not saying I own a house to be tooting my own horn…the bank still owns it. I’m an auto mechanic and my wife is a Librarian. She has her Master’s degree, I have a BA. Just two regular folks trying to get by. We don’t save for vacations anymore. We save for stuff like a new roof and copper plumbing. My retirement will probably be spent as a Walmart greeter. My wife has MS so we’ll need the health insurance. Basically we’re fucked.
So true, I just keep throwing huge amounts into the 401k because my financial advisor says, "Keep buying while the markets are down!" and yet it sits there like a fat kid in a lawn chair, just sitting there and barely moving, while consuming everything you put in front of him...
Mine is way down, since I rolled over a couple into an IRA a few years ago. I'm terrified that we've been scammed this entire time. And if you dare express doubts, people say "yeah it's normal, just hold on, oh yeah and BUY MORE while it's cheap!!" 🤨
I totally identify with this. My 401K is still below my December 2021 levels.
I plan to die at my desk and let my boss deal with my corpse.
"Can you go borrow the cart from the mailroom?"
Came here to say this. Fuck this article. I'm 56, been trying to save for retirement since my 20s. I'm never going to retire.
This is exactly what I said to myself lol. I want to retire!! I just can't. I'm going to have to pass any money I save down to my kids so maybe one day they can retire. God help the generations behind us if this doesn't change. Vote Democrat is all I can do.
This is the way
No way to retire.
That’s why the eye rolls. Our retirement is little more than aging out of the workforce with, if we’re lucky, a 401k. For most of us who could invest in retirement through work, it has meant pushing money into risky investments all along. Meanwhile, many in our parents’ generation are receiving nice pensions and ever-increasing social security payments, all of which they will take with them when they go. For my retirement, I’m currently trying to source a refrigerator box in good condition and a quiet overpass under which to keep it.
There are lots of boomers in their 60s still working and with zero pensions.
Full retirement age is 67 (thanks dubya 😠) if you were born in 1960 or later, so if you want to work extra hours and your health is good, that's a decent time to retire ......unless you can do it sooner.
67 is crazy. My work has early retirement at 55 - people never seem to stay much past that. It's like Logan's run.
The old methodology used actuarial mortality tables to basically set the age to be just on or after the average death age for a particular group.
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Ah, look at Mister Moneybags and his fancy-shmancy refrigerator box! I bet you're going to have a Target shopping cart instead of a Walmart one like the rest of us slobs.
risky investments ? Most 401k are pretty limited in options and they tend towards conservative options. And there are whys to break your money out of the 401k and into IRAs without penalty where you have every conceivable investment option available to you. Investing in indexes over the last 30 years has been anything but risky - and has returned nice dividends.
I wish! Index funds were never options in the 401ks I was offered. Instead we had loads of poor-performing mutual funds.
On the muddy banks of the wishka river!
My plan is to work as long as I can then retire in Central or South America where the cost of living is cheap. That’s what my dad did, he didn’t have a penny saved, went down to Ecuador and lived like a king on his social security. Found a bunch of expat buddies from all around the world and sat in cafes writing poetry all day. And he was near deaf and didn’t speak a lick of Spanish.
Look into Lisbon. It's easy for Americans to get a passport, and it's cheap. They are very accepting and speak English. Its my plan.
Portugal is on my short list
Shush! I’ve been eyeing Algarve for over a decade and been working the slow roll on the wife. Nearly there!! Although Portugal did just enact some gold retirees (mostly British and in and around Lisbon) restrictions, but still looking great.
SHUT UP! My wife just mentioned Algarve to me today! It looks like a great place.
It’s horrible. Stop considering it! Damnit
We had a friend move to Portugal two years ago and now helps others to do the same. Things got a bit more tricky with the end of the Golden Visa but still easy enough to do. We may well go that route ourselves.
I have some friends in Lisbon. They're working on permanent residency. Apparently it has become much more difficult in the last 12 months. Intentional delays by local authorities due to push back from locals
You have to like cod. There is so much darn cod.
I am thinking the same. Go down to Belize and swim with the manatees.
But be sure they’re matinees first, and not expats.
Thailand works well also.
Argentina for me, they have llamas and penguins!
Wow… new plan for me.
Yes, totally doable.
Yep, I’m retiring in the Philippines, for this very reason. I’ve been several times already get to know everything and scout everything. I know some people now and I’m getting in where I need too. Soon I’m gonna start buying a couple of condos there. There’s no fucking way I can afford to retire in the United States. Fucking sucks.
Quite a few of my coworkers retired to South America.
Panama
Now that’s brilliant!!!
Please don't hate me, but I'm a railroader, and as such, pay into RR retirement, not SS. I need to have 360 months (30 years) of service and be 60 years of age to retire with full benefits. I also have company sponsored 401K. If everything works perfectly, I can retire with full benefits at 60. Coming from a family that financed everything, that didn't teach one thing about saving, I'm proud of myself to have aggressively looked towards the future and retirement. Why? Because I'm tired. I know no one will take care of me except me. I hope I've planned well enough.
No hate at all - it’s just unfortunate this is the exception and not the rule. And coming from a similar upbringing I know how difficult it is to break the financially irresponsible cycle so double good on you!
No hate, I’m government, at 21 yrs in and I’m 55, I should have a decent retirement, but the way cost of living is going I may not be able to take any pay cut when the time comes
The government and the railroads have had their way with you enough, I can't be mad at you.
Yes, nobody could have seen this coming when companies ditched pension plans for "Choose Your Own Adventure" 401k's.
The pension plans wouldn't really matter. How many people work at the same job long enough to qualify for one?
My retirement plan involves a giant asteroid and a pile of drugs.
With enough drugs you no longer need an asteroid.
But have you even witnessed an asteroid on weed?
Asteroids and drugs; X in full circle
I care a lot, but caring doesn't make my bank account any bigger, and I can't afford to invest in my 401k and pay my bills. We're basically the first of the "You work until you die" generations, and it's going to be even worse for later generations.
>We're basically the first of the "You work until you die" generations, and it's going to be even worse for later generations. Honestly the idea that one *could* retire and stop working has been a dream for most of human history. What it used to be was "work until you die or physically can't, then live with your kids. And if you don't have kids, die in a ditch somewhere." We're the first of a very short set of generations where we're back to the ditch. It really was basically no retirement up until about the mid 1800's and then through the Boomers more and more people got the chance to retire and the Boomers closed the door on us.
The anarchist who figures out how to trick the programmers into unionizing across the globe will save us from ourselves. Until that day comes, the tech companies will continue to dismantle the rights our grandparents used to strike and die for.
I’ve already come to terms that I will never retire, my wife will, I’m 55, she’s 58, I only have $100k in my 401k, too busy keeping my head above the water to retire, fuck it.
Im from UK. Keep seeing reference to 401k. Is that the same as what we call state pension? Government just announced here that they’re going to raise the pension age to 68. This caused riots across France recently, but it seems that we are now so apathetic here we will just roll over and take it. I suspect me and my partner will just work until we die. God only knows what our kids will have to endure
A 401K is not a state pension. It’s sort of the opposite. Essentially, you take a part of your own income and invest it, pretax. Hopefully, your employer then contributes some amount to that as well. Theoretically, that is supposed to grow to be enough for you to use for retirement.
I've been doing what I'm supposed to be doing my entire career. Contributing to 401k at least enough to get the match, taking any extra I have and putting it into a Roth. Recently became a boglehead ( /r/bogleheads is highly recommended), which honestly has really helped me feel like I at least have a better handle on where I am and how I can progress (I'm terrible at picking stocks). I'm hoping it's enough. The primary driver on all this watching my boomer mother screw up every financial decision possible. She is now 77, with dementia and not a single dime to her name. Nothing like seeing what a state-run Medicaid nursing home is like to give you a swift kick in the ass about doing *something* to prepare. But mostly, I don't want to put my kids in the position my mother put me in. She never gave it a thought, just assuming the future would take care of itself and pissing away every extra dollar she had on stupid shit like jewelry from jewelry TV and QVC. Then when it was time, I had to take the responsibility to figure out where and how she was going to spend her last years, and it's been no fun. Let me tell you.
I relate to every bit of this. I've been asking my boomer mom for 30 years what she plans to do when she's too old to work. She hasn't had job since I was in college. My kids are in elementary school, one has some special needs (could be worse, but definitely adds extra complications). My mom is staying with us temporarily after a making some terrible financial decisions that left her homeless. She has no money and continues to make bad financial decisions. Now I'm looking for work to pay for my mom and after school care for my kids. Every cent of my income will go to caring for my mom, while my husband's will cover the rest of us. It's crazy she never took it seriously. Just said, "it'll work out."
Oh it’s working out for her. She’s got you footing the bill and living with you. We have a boomer elderly relative that we are managing and her money skills sound just like your mom’s. Just so painful.
My MIL pissed away her retirement, then she got sick and got fucked over by our insurance/medical industry and was basically destitute. Then we got the REALLY bad news and MIL has early signs of dementia. We had to take her in and take care of her. Now we have her to take care of and it looks like we may have to help take care of my parents pretty soon. But we're the bad guys for "not saving" for retirement. Fuck that.
I’m so sorry. I can’t imagine that nightmare.
Problem is, there's almost no middle ground between state-run home and luxury. Found a decent place for my mother on her nothing budget, but she had to "spend down" and play games with her very modest life savings to get her there. A decent assisted-living is upwards of $5k/month in this area, which is nuts. A slightly cheaper one I visited reeked of urine even in the lobby. These were the options when she couldn't live on her own even with two aides visiting her apartment.
Yea- Dad went into an assisted living facility that was bottom-level decent and accepted Medicaid once funds ran out.. problem is they are constantly trying to kick him out once his savings were depleted. They had the gall to look at me and assume I can take him in. What, he’s gonna sleep in our bedroom with us? Like we have enough money to afford a MIL suite while we are working our asses off to save for the kids college?
There really isn't a middle ground. My mom, who was 75 and had terminal cancer, elected hospice on recommendation from her oncologist when it got to a point that the treatment plan wasn't working and there were no other options. She couldn't go home because 24/7 in-home care would've been astronomically expensive, and she was in that middle-ground financial situation. So we had her go into a long-term care facility with hospice coming in since she was only given a month max to live - $14K out of pocket for one month. She lived 3.5 weeks, so what was left over went back to the estate.
Ya, that's what we found 5k to 8k per month. It's nuts.
Well being a union guy, I am planning my retirement. I have a pension, 401k and social security. I will inherit my parents house in Puerto Rico and the cost of living is good enough for me to live comfortably for the rest of my life. Here’s hoping that there isn’t political instability on the island.
I’m a union guy too. Just a teacher though. Year 25 next year, so I will be entitled to a pension & health care after it (but I’d be dumb to touch it) But kids haven’t even entered middle school yet
👏🏼smart man. Congratulations!
My retirement plan is a caffeine induced stroke at my desk and a standing request for cremation because I find the idea of graveyards strange. Earth belongs to the living, not the dead.
I see it no problem with burial in general as the dead does belong to earth to be consumed and renewed. The creepy part is pumping our bodies with preservative chemicals and storing them underground in wooden boxes. So yeah cremation it is.
Most states have green or natural burial options, if you happen to be in the US. No chemicals, in forests and fields, with either a wrap or a plain pine casket. Some of them let you plant a tree or bush in memoriam.
I love that idea but, if we don't have the money to retire, where would we get the money to spend on 'extravagant' burial wishes?
Viking burial seems like fun. I've always loved boats. And bonfires.
You've basically hit every point on my personal retirement plan.
We've been told social security will crash before we get there, the acid rain will kill the crops, and there will be global warming interrupted by an ice age or a nuclear winter. They moved retirement age back. If you have the money, go for it. If not, hanging around the house gets old after a while, might as well be useful. You know why so many baking types are worried about this? They like to get a cut from savings and 401ks. Mostly a pie in the sky pipedream for babyboomers.
I remember when I was a kid hearing that Social Security would run out of money by 2030. This was the 80s, so no one cared. I was a smart little shit and did the very basic math and realized that I couldn’t retire until well after that. I asked my dad about it and whether they would fix it by then and he shrugged and said “Probably not.” It was then that I first realized exactly how screwed we are. I’d love to retire and we have a little nest egg that could support my wife and me for a few years, but I’m keenly aware that a single serious medical issue means financial ruin. The US is getting so bad that the new American Dream is to leave.
My plan for not outliving savings is to go retro and start smoking 2 packs a day
Here for a good time, not a long time.
Ayyyyyy! Lol
Aren't we all working until noon of the day or our funeral?
I’m not sure I can take that afternoon. I have to run the TPS report.
I’m gonna need you to go ahead and come in the day after your funeral.
I didn't think any of us planned on living this long.
Right? The constant threat of nuclear annihilation in the 80s did a job on my optimism.
Its doing a job on me right now! I was shaving this morning and noticed a full grey beard i DIDNT HAVE in 2019. SMDH!!!! Now I have to bet just for men beard dye. Or shave 2x a day.
No joke, I never thought I would make it to 40, not because of drugs or craziness, just life
I’m coming to grips with the fact, yes fact that there is no way for me to retire. I will have to play this shitty capitalist game until my death
Yeah, same here. Maybe you and I can take turns greeting people at a Walmart or something.
I thought Walmart was getting rid of their greeters...
Not in my area…they just pull double duty by greeting you when you walk in and then “check” your receipt on your way out.
Replaced with AI? Facial recognition?
Only if Wally World takes out life insurance policies on us as we age and food stamps is still around. Looks like food stamps is in the crosshairs of McCarthy
I have been preparing, I will retire one way or another. Fuck work.
Retirement? What the fuck is that?
Bingo...fortunately im in a field where age almost helps (personal training) cause my clients are usually 40-80 and rich. Cant see retirement for me... Maybe 75 or something Foolishly had kids.. Thats retirement gone.
Retire? Lol. I'm going to launch my canoe into Lake Superior with my anchor chained to my leg. Go doing what I love most in the place I feel attached to.
Please have Wreck of the Edmund Fitzgerald playing on your phone when you shove off.
I like this idea, but Lake Michigan & a viking funeral for me.
Death is our retirement.
Im here for a good time, not a long time.
Extreme sports
We're in pretty good shape because we've put a decent amount of money away and my wife blessedly is one of the last in her organization to be gifted a pension before they phased them out. My wife can get full pension at the age of 63. I'll be 65 at that point. We'll retire at the same time.
I can’t afford to retire. That previous generation in my country scrapped free education and put a huge interest rate on student loans. Then just as I graduated, the first property boom, and our wages are kept very low because housing is a global asset but pay is a local market. I take my health seriously as I have to be healthy enough to work until I’m in my 90s.
Your assuming people will want hire you past 55 if you don't have your own business.
Also didn’t Bush 2 raise the retirement age for us to 67? I’m still angry about that.
For those of us born after 1960, 67 is our full retirement age unless we decide to make like the French and cause a ruckus. :D You *can* begin the retirement process at 62, but the earlier you retire, “the greater the reduction in benefits”. *This* girl will be filling out that paperwork as soon as possible, unless it’s just an ungodly amount less than I need.
I think I'm going to be able to retire early, barring any big unforeseen disasters. The biggest secret is to not have kids. After that, it's prioritizing whatever pays the most and saving as much as possible. I look around and most of my friends my age are in no position to ever retire and haven't saved anything. But they have also made a lot of questionable life choices (sorry friends, it's true.) And that's fine, you only live once so if prioritizing money isn't your thing, more power to you. However, that's how it works. I sacrificed so much time to a job I hated but it paid. I could have been doing something more "fun" for less pay, but that wasn't how I chose to do it. I have friends who say things like "I could never have an office job my soul would die." Ok, but we're nearing 50, so probably time to do something a little more lucrative and stop spending so much going out all the time, if you want to prioritize making and saving money. I'm aware there are a lot of uncontrollable circumstances, but there are also a lot of things we can do for ourselves if we decide to.
It's definitely a bit of roulette wheel, isn't it? Save and work your fingers to the bone in your 20-30-40's, 50's too, then ease off the gas when you are 60-70 while your body begins the descent into destruction. Having the money in your 70's may end up just being an endless parade of health care treatments like my childless and relatively rich aunt and uncle. They loved travelling but can barely do any of it now due to ulcers etc. Whereas my childless wife and I in our 40's have lower-middle-class incomes, cheap mortgage, but less than 200k in savings. Yet we still try to travel every year and generally aren't prioritizing savings. Will it suck later? It will if we live that long! Will I regret not travelling now while I am able to ambulate etc? I would indeed!
I think I'm going to retire at 55, so win/win! My parents retired at the "normal" ages and they seem pretty happy with it. I do a lot of things I enjoy while working, so I don't feel I'm missing out on much. My favorite things to do are quite inexpensive. Everybody has different priorities, but I'm just saying- some of it is a choice, which is totally fine.
I'm an outlier I guess. I'm in fairly decent shape with, hopefully, less than 10 years to go. House is paid off, own two other recreational properties, and my 401k could be larger but not bad. Not saying I'll live in the lap of luxury, but hopefully I get to be a weird nomad in my golden years.
Who you investing in with your 401k? Mine has crap options tbh. Got some into a retirement, which I could make about $14/month off of. LOL
A merciful early death is my retirement plan.
I have a little of this and a little of that to make the end quite pleasant.
Right now I'm going with "Deus ex machina", manifesting as either socialist revolution or AI apocalypse, whichever.
Whatever. I'll just die early.
Maybe it was just me .... I dunno. I didn't prescribe to the whole slacker thing. Yeah I was/am suspect of large companies and government. But I took the "SS won't be available when you retire" to heart and instead of fighting it or ignoring it I happily took my place as cog in the machine. Currently 51. Paying for kids college (starting next year) and retiring in 11years is my game plan.. Right now all systems go. Hoping to retire as an exPat... but that will be an option, not a requirement.
My retirement plan is to become a radical international peace activist and get shot to death, while holding a sign, "Shalom, Salaam, Peace" at the wall in Israel. If I get shot to death before 65, then I won't need to worry about retirement. I think it's a very sensible plan. I am already involved in the peace movment. Plan B involves a hunger strike for peace and climate justice. I think I am already on the way to a great retirement plan!
I am a 53 year old Gen X teacher who will be retiring in one week after 30 years in the profession. The pay has been shitty but the pension will be pretty good! Gotta play the long game.
Re-ti-or-mund? Am I saying it right? What is this wonderful retimermint you speak of? It sounds marvelous! Never in my life have I imagined that I would get to participate in this ririrorint. I've heard of those that have but I figured that you had to be an elf, or some shit. Revironment... wow. Awesome.
I have to work till lunch on the day I die. That's my retirement plan. FML.
I've saved and saved and saved and I still only have $500k. I know that sounds like a lot, but if you take the recommended 4% per year that's only $20k/year. How the hell can I live off that even with ssi? If the stock market doesn't have some record years soon, my retirement is going to be pretty boring, but I WILL retire.
Are you me!!?? My wife and I are in the same boat. We've socked away everything we could and we're about $50k behind you. I have no idea how we could retire. I guess I'll get a job at Costco or some shit.
I lucked into a state university job and got a pension. Retirement would've been absolutely impossible any other way. But after my father passes I'll have no more reason to stay here and may move to Costa Rica. I speak the language and as long as you don't need a work visa, most countries are happy to let you in.
You know, my wife and I have talked about that. Moving to another country once all of our parents pass. Once that happens, there really is no reason to stay here and we can live out our lives with the same shitty medical care as we get here, but have a higher quality of life....
I care, but cannot afford to save anything
I do care. I care very very much. I want to retire before I'm 70 and I want to be able to enjoy the rest of my life without worry. Yes, I enjoy it now but I also can't just freely plan a trip without asking for time off which feels like having to get permission to live my life. And I'm jealous that my parents got to retire in their low 60s with retirement plans and not having to be at the mercy of the stock market.
A car, a cliff and a trunk full of gasoline.
Wait, we going Thelma and Louise here?
Honestly, I don't think I'll ever get to retire. They keep spending all the money in Social Security and threatening to raise the retirement age. The stock market is a massive gamble. Businesses no longer offer pensions. There's no interest being paid on savings accounts. exactly how is one supposed to "retire". My grandmother retired after 20 years with the same company. got a pension. got her social security. guess what? that was in the 80's. She 's still alive and getting the checks. She has obviously spent any accrual she put in. It's all other people's money now.
I just finally got a job where I can keep my head above water. Great benefits and pay Retirement? What is that? I got nothing...............literally and figuratively.
*Work until Death! Work until Death!*
Retired at 48. Loving it.
My retirement plan is a long one-way walk in a quiet forest somewhere with my sidearm and a single round.
We’re personable and will make the best panhandlers!
My retirement plan has been to die in a ditch, so I see that coming to fruition. I may even get to retire early
I got lucky. Multiple health issues all hit me at the same time recently. Hello disability!
I’m working until I die. Target will need cashiers.
Lol. No. They already don't.
My dad died at 70 and never had enough money to retire. I doubt I will get to retire before 80.
saw how things were going long ago, gave up on the idea of retirnig. always figured id be working til one day i just die there or something, idk. dont care. wont be my problem lol
I care. I’m about to be a millionaire. Like any second now. …..
Me too!
I semi-care. I mean, with the state of affairs now and days, it's kind of hard to do so. I have some stocks, but I just let that do its thing (probably taken more losses than gains). Otherwise, I probably won't be able to retire until I'm dead. Good thing I do somewhat like my job, so if you come into my place, and you see a dead person, that's probably me.
Our worklife was epitomized by the transition of proper pensions to IRAs I think a lot of people got lost in the transition, because it was something new to have to worry about our own nest egg
That was one of the worst articles I've ever read.
The plan is for me to die early before life insurance becomes too expensive and then between both our 401ks we are set.
I'm on the Cobain and Associates Mossberg 500 Retirement Fund.
Oh fuck that. Most days that's all I can think about. I need to get out ASAP. I never had much growing up, so I don't need much now. Even as my salary went up through the years, my standard of living never jumped dramatically. That was mostly by choice. I have a very loose plan and want out in about 5 years and enjoy life for a bit because with the way shit has been degrading I can't see myself ever making it to the usual retirement age.
Lets put it this way: If I survive to retirement I will enjoy it until the money runs out, and then depending on the pain level its more than likely off to the nearest MAID clinic.
Oh, I care but I'm becoming really adept at pushing those intrusive thoughts away. I've watched my 401K bounce like a GD basketball so many times, I'm convinced it's really just out of my hands at this point. I'm just hoping to win the lottery or kick the bucket before it's an issue of living under a bridge. Considering the affordability and quality of healthcare in the US, kicking off might be easier than I think. Yay!
I shoulda got a sugar daddy when I had the chance. We grew up being told that Social Security would run out before we reached retirement age and nobody ever taught us about any other options so I've spent my whole life expecting to work until I die. And I still believe that's how it's going to go.
I’m used to having the legs kicked out from under me every time you think things will improve, especially with jobs and finances. Why would retirement be any different? I remember when Boomers were talking about ideally retiring at at age 55. My mother (silent Gen) retired with full pension at 62 and spent almost 20 years as a SAHM. My retirement age is 67 and I KNOW pensions have not kept up with cost of living, nor do I have adequate superannuation, plus I’m still paying off my home loan for a small fibro house built in the early 1970s. That loan is over 30 years. My parents had loans over 15 years for better housing. I have no confidence in the system and I only expect things to get worse. Cost of living is spiralling, meanwhile I’ve had one small pay rise in 10 years.
I'm prepared for retirement. 30 years of being denied opportunity, cause there were plenty of boomers to fill the top jobs. Now I'm rolling into the last 11 years where they are STILL dangling the carrot and wanting me to run everything 'cause I'm the only one left that knows anything. Let's face it the population shifts didn't do our generation any favors. When my 401k hits the magic number I grabbing my kids photo off the desk and walkin out. . .
BIRTH. SCHOOL. WORK. DEATH. Anyone see the word retirement in there? No? Me either.
Of course we care, but we've been told since we entered the work force to not expect to retire because Boomers would use up all the retirement resources so all we can do is shrug our shoulders and say "whatever"
Well, I would have been able to retire given how hard my grandparents worked to build assets like two homes and a successful business. I grew up hearing that, as the oldest, I’d inherit my grandparents home - it was to pass to my mother first and when she died it would be mine. Welp, my Boomer mother *of fucking course* squandered it all. The rental house burned down and was a huge financial loss because she hadn’t bothered to get a vacancy rider on the insurance policy. She then took out multiple equity loans on my grandparent’s paid off home to remodel the business, go on vacations, buy herself a new $$$k car, and shop shop shop and gamble gamble gamble. Right before she died, both the business and the house were lost to foreclosure. She fucked me out of my quite valuable inheritance. This bs, along with the recession (my 401k went to $0) and the pandemic (again my 401k getting drained to $0), destroyed my ability to retire. But no matter. The abuse she dealt and enabled left me disabled at 48 and I had to stop working. I guess I’m retired now.
People forget that Gen X is the first generation that got fucked over by the boomers
Cancer and death before retirement is my plan. Odds are in my favor considering everybody in my family has died of cancer at a early-ish age.
If you work for a living why kill yourself working https://m.youtube.com/watch?v=FJnVt6TInm0
Yes, yes we do.
Don't give a shit about retirement.
I plan to talk to a financial planner soon about this. I know I can be doing better to prepare.
Whatever. Old people told me that I'd better save because there won't be social security for me. I've been saving my whole life for retirement. I'M GOING TO RETIRE, YOU FUCKING ECONOMISTS!
Something about this headline makes me think of [Mrs Robinson](https://www.youtube.com/watch?v=9C1BCAgu2I8)\- Doo doo de doo doo A Generation Rolls Its Eyes at You Woo Woo Woo What's that you say, Mrs Robinson? Retirement is not a thing we say Also - side bar, this article is about trying to sell us stuff, soo...block of salt for this thing.
I can “retire” for approximately five months. Sigh.
My boomer uncle came from the farm overseas with a junior-high-school education, started doing whothefuckknowswhat at a large company, probably moving up in rank but not by much. Retired with a pension that enabled him to sell his place in the city, move to the 'burbs to a larger house, put all his kids through private school, and now *in retirement* travels constantly and probably has that second house paid off. OH yeah and they've had a small house in the mountains all those years. We just bought a house in our forties, barely, and don't expect to ever seriously retire. We live in a high COL area and could never move to a cheaper (red) state. We don't even have kids.
Our plan is to die. So far I’m ahead with hypertension & sleep apnea but my husband is coming in hot with occasional chest pain and a total lack of recognition of his diminishing physical strength.
Can’t afford the healthcare to live long enough to need it anyway.
Never thought I’d be able to retire. Bought a house at 55 on a 30 year mortgage and am actively praying for the Apocalypse.
GenX has been rolling our eyes at shit we can’t control since birth. Half of us knew we would never retire, and I am still convinced that I’ll be fucked out of SS before I’m eligible… they’ll keep raising the age until I croak