Does Gen X only have 10% of retirement savings?

[Over70irregs]

You can do a lot of stuff on there once you figure out how to navigate it

And yes the short-term looks very tempting but we all know the interest rates are going to come down so you can lock in 4.5 or so for the the next 2 to 7 years you might be happy in a year or two from now


Just remember a little bit over 4 years ago the 10 year treasury was paying a half a percent and people was flocking to buy them.

Yeah The guy was recommending doing laddering with your money. So that you don’t have it all tied up at one time and have access to it.

 

[IVE GOTTA PACKAGE 4U]

Yeah The guy was recommending doing laddering with your money. So that you don’t have it all tied up at one time and have access to it.

That's exactly what I'm doing.

 

[rickyb]

Gen Xers are on the cusp of retirement—but most have only saved 10% of what they’ll need

Those in the 10-year countdown to retirement reported a median savings of $47,950.

finance.yahoo.com

Swiss ppl get 7000 cad per month

 

[Over70irregs]

Swiss ppl get 7000 cad per month

They have socialized medicine

 

[Thebrownblob]

Gen Xers are on the cusp of retirement—but most have only saved 10% of what they’ll need

Those in the 10-year countdown to retirement reported a median savings of $47,950.

finance.yahoo.com

“A new survey from Prudential of Americans 55 and older finds that Gen X is falling far short of recommended savings amounts. This is particularly true for the pre-retiree group around age 55, according to the company, which has a median savings of $47,950—only about 10% of the $446,565 Prudential recommends having by that age. (The firm's rule of thumb is having eight times one's annual salary stashed away by 55.)”

This Gen X’er right here is way ahead, but then again, I see a lot of people my age constantly buying new cars to keep up with the Joneses.

 

[Over70irregs]

“A new survey from Prudential of Americans 55 and older finds that Gen X is falling far short of recommended savings amounts. This is particularly true for the pre-retiree group around age 55, according to the company, which has a median savings of $47,950—only about 10% of the $446,565 Prudential recommends having by that age. (The firm's rule of thumb is having eight times one's annual salary stashed away by 55.)”

This Gen X’er right here is way ahead, but then again, I see a lot of people my age constantly buying new cars to keep up with the Joneses.

People are stuck.

 

[Thebrownblob]

People are stuck. View attachment 489960

Most of them are stuck because of their own bad money decisions.

 

[rickyb]

They have socialized medicine

yea that too

 

[IVE GOTTA PACKAGE 4U]

People are stuck. View attachment 489960

But they have money to get Uber eats a doordash everyday...

Priorities...

 

[rod]

Most of them are stuck because of their own bad money decisions.

Just HAD to have 2 new vehicles and a new $750,000 home the wife wanted. Don't forget the RV and the boat.

 

[Thebrownblob]

Just HAD to have 2 new vehicles and a new $750,000 home the wife wanted. Don't forget the RV and the boat.

Yeah, but you can afford it now.

 

[rod]

Yeah, but you can afford it now.

IF you can afford it no problem---trouble is now newly weds think they HAVE to have ALL the goodies right away ----on top of their student loans. They also think someone else is going to pay off their debts.

 

[rickyb]

Just HAD to have 2 new vehicles and a new $750,000 home the wife wanted. Don't forget the RV and the boat.

why are homes 10x more expensive now vs 40 years ago?

 

[rickyb]

IF you can afford it no problem---trouble is now newly weds think they HAVE to have ALL the goodies right away ----on top of their student loans. They also think someone else is going to pay off their debts.

https://www.reddit.com/media?url=https%3A%2F%2Fpreview.redd.it%2Fxcdto6rnan951.jpg%3Fauto%3Dwebp%26s%3D4811fab2dc5478f1bae1d4e1c8daa98ee0d5d700

 

[IVE GOTTA PACKAGE 4U]

why are homes 10x more expensive now vs 40 years ago?

Inflation

 

[Over70irregs]

But they have money to get Uber eats a doordash everyday...

Priorities...

Ohh You went there…..

 

[rickyb]

Inflation

my calculation is correct. it should only be 120,000 in todays dollars but the cost is actually probably 800,000 if not 1,000,000

 

[IVE GOTTA PACKAGE 4U]

Ohh You went there…..

It's the truth
They got money for convenience and for pleasure but nothing for the future

 

[IVE GOTTA PACKAGE 4U]

my calculation is correct. it should only be 120,000 in todays dollars but the cost is actually probably 800,000 if not 1,000,000

Buy it now because it's not going to get any cheaper

 

[Over70irregs]

It's the truth
They got money for convenience and for pleasure but nothing for the future

I try to talk to different people but they are “doing them”…. One guy takes trips or dines loves interests and keeps getting shot down. But people are grown.