Skip to main content

Jar full of coins labeled
Twenty percent of all Americans near retirement age don't have any money saved for retirement. None at all.
The study offered a stark reminder that as more Americans are made responsible for their own retirement, most are not saving nearly enough. Overall, 31 percent of people said they have zero money saved for retirement and do not have a pension. That included 19 percent of people between the ages of 55 and 64, or those closest to retirement age.
Not to put too fine a point on it, but duh. The economy tanked, replaced with a conspicuously "jobless recovery." The ranks of the middle class have been dwindling. Wages haven't been keeping up with living expenses. Pensions have been going away, either discontinued by companies, intentionally underfunded by companies, and/or attacked as the root of all evil by companies and government figures alike. And we suppose these Americans will be "saving" for retirement how, exactly?
A lot of people said they would just keep working: About one-third of the people surveyed said they delayed their retirement date after the financial crisis. Among the people closest to retirement, those ages 45 and over, that number increases to 41 percent. [...]

Only 18 percent of people said they envisioned having a traditional retirement where they would work full time until a particular date and then stop working completely.

Yup. And as long as we're fine with that, we're fine with that. If your grandpa needs to keep working the Walmart checkout lines until he drops dead and his other co-workers have to carry him out back and stack him with the pallets, well, that's just America, baby. But let's not kid ourselves and suppose that it's happening because all the minimum wage employees and ex-factory workers out there have insufficient character to set aside money for their elder days.

Originally posted to Hunter on Fri Aug 08, 2014 at 12:16 PM PDT.

Also republished by Daily Kos and Aging In Community.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Mary, Alumbrados, paradox, Ed in Montana, Angie in WA State, Joe Bob, Mimikatz, Sylv, vicki, Val, Geenius at Wrok, Gooserock, TrueBlueMajority, AdmiralNaismith, alicia, tacet, akeitz, eeff, gjohnsit, Creosote, geordie, raines, susakinovember, whenwego, CoolOnion, boadicea, roses, qphilo, Terre, Iberian, kcc, wader, revsue, jdmorg, psnyder, annan, TexDem, Kentucky DeanDemocrat, brainwave, cosette, LucyTooners, riverlover, Diana in NoVa, zerelda, ScienceMom, solesse413, eztempo, sb, 3goldens, LakeSuperior, chimene, Alice Venturi, one of 8, Bad Cog, ajsuited, ChemBob, reflectionsv37, eru, where4art, Overseas, blue jersey mom, Hastur, bjedward, Shotput8, FindingMyVoice, sodalis, bunsk, Ekaterin, begone, third Party please, vigilant meerkat, emeraldmaiden, Arabiflora, cookseytalbott, Dvalkure, technomage, arlene, kck, Lefty Coaster, blueoasis, NBBooks, MJ via Chicago, gpoutney, NearlyNormal, ER Doc, Joshua Bloxom, SingerInTheChoir, BlueMississippi, nother lurker, CA Nana, kurt, bartcopfan, markthshark, cpresley, The Knute, One Pissed Off Liberal, camlbacker, weneedahero, ColoTim, beth meacham, Matt Z, joedemocrat, Librarianmom, TDDVandy, keyscritter, on the cusp, JDWolverton, Youffraita, skohayes, VA gentlewoman, monkeybrainpolitics, Greyhound, mayim, Cassandra Waites, dewley notid, glendaw271, shigeru, lenzy1000, rodentrancher, ragged but right, Bule Betawi, MufsMom, zmom, maryabein, janmtairy, Cuseology, bfitzinAR, Leslie in KY, Words In Action, Polly Syllabic, Simple, leftist vegetarian patriot, pixxer, Puddytat, cai, Betty Pinson, kenwards, avamontez, fiercefilms, kerflooey, annominous, Miniaussiefan, matercarol, Bob Duck, implicate order, jardin32, vahana, hooktool, FarWestGirl, asterkitty, TwoSolitudes, marleycat, laurnj, Santa Susanna Kid, Ojibwa, BarackStarObama, abbotkinney, Prinny Squad, MRA NY, worldlotus, peregrine kate, ratcityreprobate, SteelerGrrl, imlpdx, CoyoteMarti, Lucy2009, Laurel in CA, James Allen, Flying Goat, oldcrow, barkingcat, Joieau, a2nite, 420 forever, chicagobleu, peachcreek, Syoho, willrob, lunachickie, brae70, bigrivergal, dotdash2u, mumtaznepal, peptabysmal, Sue B, nomandates, Illinois IRV, wozzlecat, bogieshadow, Yo Bubba, Aunt Pat, Ree Zen, librarisingnsf, notevenclosetoonepercent, CyberLady1, oslyn7, FeldMP, eagleray, RightHeaded, jbsoul, Penny GC, SueZbell, Shaylors Provence, hbk, CindyV, eyeRollz, coyote66, Schneewolfe, AnacharsisClootz, NoBlueSkies

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site