Retirement? I'd like to introduce you to Reality.
The median amount in American IRA's (Individual Retirement Accounts) according to the BLS (see chart) is $2,000.
- No big surprise since half of Americans earn $25,000 per year (or less). Many look at Social Security as their 'retirement account.' BIG mistake, but that's an economic rant for another time (the one about how Congress spent all the Soc.Sec. cash and left a pile of IOU's to itself instead. [Hint: don't try this at home!]).
REALITY? Even more dismal than the above: 1 in 3 have ZERO savings.
Gee, it's sure a good thing there is NO inflation (well, according to the Government...the rest of us that need energy and food HAVE TO PAY FOR SAME unlike the tax-spenders who have us to pay their way)!!!!!
Thursday, 20 January 2011
Retirement? Meet Reality...................from Rico
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2 comments:
One year is not the long run.
The 1 in 3 with no savings? I'll bet they have a mortgage they can't afford, flat screen tv, a car less than 10 years old and go out to dinner more than twice a year. Me, not so much, but I have enough to retire right now and I am only 55. The problem is the grasshoppers will expect us ants to support them.
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