Wednesday, March 31, 2010

People Still Haven't Learned to Save for Retirement??

I thought the outlook was bad but holy shit.

1 in 4 US workers have only saved a grand for retirement? I had 4 times that much after my first year of work. I'm not joking.

Do people really not save for retirement? What about 401K? Company match? All those fat union pensions? These numbers were really a shock to me. Truly. I'm freaking loving the Roth option. I put 100% of future 401K contributions toward it. At this point based on my age I'll have about half of my retirement funds that are taxable and half that aren't. My father beat it into my head that you have to save for retirement. Crap with Obamacare people are going to live longer too.

Regarding people's lack of savings though...........

Obama will have to fix this. It isn't fair that some people like me have retirement accounts and others didn't ever start them. I have a sneaking feeling that somehow I'm going to have to share my retirement cash with people who didn't save, right?

Not to worry people. Obama will have a bailout program for all you all. Was it foolish of me to put so much money away all this time? Okay, just tell me many of you am gonna have to cover when we are old?


Anonymous said...

The savior will come and help us all.

Anonymous said...

I have been saving and if the rapture occurs before my retirement,I'm going to be really pissed!
Jy in WI

JOCOeveryman said...

Jayne....that is actually very freaking funny! I agree completely.

Anonymous said...

Hey JE-Happy Maundy Thursday/April Fools Day. I must say,I avoid all forms of housework in hopes that the Rapture will spare me from breaking out the Swiffer.

I Travel for JOOLS said...

Hey JoCo, I've been on this earth a bit longer than you have and I can assure you of several things regarding your retirement. You will definitely pay for the retirement of those who won't or don't save for their own. Paying off your house only means that you will lose the deduction while those who quit paying their mortgage will have their principal reduced and their interest forgiven. And, then they'll claim bankruptcy anyhow and you'll shoulder all their debt while they still keep their house with marble countertops, etc. If you work your ass off, you "might" get to keep 40 or 50 percent of your income and as for the rapture, just look in the eyes of those you have "saved".