Delaying retirement: Many struggle to save, fail to plan

"Savings? There is no savings! Get real," Stephanie Tucker, 66, said to me last week over breakfast at the Pop 'N Sons Diner on North Dale Mabry in Tampa.
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[@rayhill5767]

Eating out for breakfast but no money for retirement? I just found where all that money went.

[@basicfilmblog]

Idiotic take.

[@July.4.1776]

@@basicfilmblog…. Her behavior over the fifty years from age 20 to 70 determined her fate.

[@basicfilmblog]

@@July.4.1776 you're a clown.

[@July.4.1776]

@rayhill5767 You are 100% correct……………………………………………………………………………………………………………………………………………………………………………………..With fifty years from age 20 to 70 to figure it out most people don’t plan to fail they fail to plan. ==========================================================================================================From the time I was a child I always saved some money from each job. Started out mowing the neighbors lawn with their mower.

[@swanseawales1979]

Whilst people my age are driving to work in their Tesla’s I’m cycling to work and buying Tesla shares on my lunch break.

[@re8746]

The biggest key to retirement is to be out of debt. No auto loans, no mortgage / rent payments and carry no credit card debt. I am 54 and my wife is 50. We will have about $400k saved by the time I am 65. Our monthly estimated ss for the both of us at 65 will be $3600. We will do just fine.

[@chesterwilberforce9832]

You forgot one very important element - no periods of unemployment. All bets are off if there's no money coming in.

[@re8746]

@@chesterwilberforce9832 Unemployment can derail a savings program quickly.

[@KathleenMcNe]

I established IRA and non-IRA accounts in my 20s, contributing to them regularly. I always worked full time, lived frugally, saved and invested. I never made a great salary and never worked for a company that offered a 401(k) or pension. I retired 2.5 years ago. At 66, I'm financially secure and living comfortably. It can be done. But one has to start early and make sacrifices.

[@ButcherBird-FW190D]

Same for me, Kathleen.

[@cskillet2003]

People who say the stock market is gambling when they're young end up here. You HAVE to invest!!!

[@rbear4574]

I thought I had enough money saved to live a on with my SS, but due to health problems The money don't last long. Health ins will only pay so much. Your never told that the cost of living goes up but your SS won't. You can live better on welfare. I would go back to work but try and find a job when there are days you can't even walk more than 10 feet. and need some one to drive you every where you need to go. A financial can't tell you what's going to happen when you ready to retire.

[@charlieb8788]

I'm 75, forced to retire at 59 and have family income of 3,000 per month because: I never subscribed to cable sports packages, ate out only on special occasions, kept our cars for a minimum of 6 years, never drove a cadillac/BMW/Lincoln etc. We never had credit card debt over $500 and never paid interest on it. All these people interviewed have very nice furniture, clothes, homes. The spent their future on good times all along the way.

[@blackworldtraveler3711]

Charlie B Yeah I'm retiring next year I've been watching a lot of these type videos this year trying to see where I'm at compared to other baby boomers and looks like living within means,staying debt free,affordable home,buying used car instead of new,saving,investing etc. really paid off big time....so I'm retiring early. One thing I see in common with the baby boomers that are in financial trouble with retirement is all the "stuff" I see in the background of these videos they have accumulated in the house and garage too big of home,new cars,too many kids they really could not afford,debt,etc... It's their own fault. They never mention it in any of those videos.

[@ktee1403]

Why not work part time instead of retire?

[@karlarevero7811]

k tee because they are old and can’t work anymore and have worked all their life

[@genevieveheater705]

woman said she could never retire, as she at breakfast out. its cheaper to eat at home.

[@windingpath]

genevieve heater exactly. That's 5 bucks right there.

[@ajbee4706]

genevieve heater ...and healthier.

[@davidjames1684]

Who said she paid for that meal?

[@greenAbbot]

For all we know this diner visit could be her one "extravagance" for the week. I'm not willing to say "there's no systemic retirement crisis as long as anyone spends a single penny they don't have to." And loneliness and isolation are just as much of a crisis for seniors as is lack of retirement savings. This could be her only way to be around other people.

[@chineseslaves1971]

They said she was a regular. I know plenty of people who don’t save but they always have money for restaurants. To each his or her own. However making your own food and drink is a major element in saving money. Going out to eat is a luxury. It’s become par for the course. I know men were afraid to marry me, so traditional, but it’s that characteristic that made me save and stay out of debt or pay it off early. it’s as if so many are afraid of women unless the have an impressive field concerning salary...they don’t seem to get that those college loans may never be paid off in a lifetime by pricier educations. There’s no such thing as free. You take the upfront gold you get the bill for it later. Today I made my breakfast and coffee like usual. Last night dinner was made in a crockpot. Today I’m making baked doughnuts. Too many people don’t get it or me.

[@ERIN_198]

Don't waste money on an 'expert' It's all common sense

[@ariefraiser140]

No. It really isn't common sense. And it's not something to play around with. My mother was throwing the majority of her savings in some low interest money market account because it was "safe" 10 years ago when she was 50. I had to tell her she was losing money every year because it didn't even keep up with inflation and she wouldn't be able to retire in 15 years even though she was saving over $1000 a month. Finally convinced her to move it to a low cost index fund and today she has more than double what she would have had if she didn't change course. Older people with little financial investment background definitely shouldn't rely on mere common sense to fund the greatest asset they will likely own. Their retirement. At the very least get online and research it.

[@blackworldtraveler3711]

Arie Fraiser I've been using common sense saving and investing since 10th grade not at 50.

[@dufus2273]

until a crisis comes along. and they will.

[@aliciabrowndocken4660]

I've saved $2K a month for decades in my 403B. i have other money's invested and were with a Financial Planner. For me it's a win win. They help manage the Trust we have set up and they work with the CPA who manages our taxes. I'm debt free with the exception of a single car payment. The house is completely paid for and in excellent condition. I have a perpetual income of about $40K annually from a pension and Social Security. The investments and my house have a total value of over $1.5M and I'm grateful for the assistance I receive in managing it. My investment portfolio is well diversified and returns an average return in the 5%-6% range after fees. Weve had big years where we got 22% and some years that we lost. It's all about the long term 75 year picture. Taxes are a big concern and we seem to be doing fine. I can't imagine managing everything i have without expert advice. Just to add a note, since I served in the Military during the Vietnam War I'm entitled to Veterans Administration health benefits as are all Veteran's who served our country. I don't have to worry about Medical Bankruptcy.

[@neilpuckett359]

Wages have been stagnant for 40 years let's put that in the equation.

[@maysommers6360]

exactly Neil. that's so true.

[@cliffkonkle3467]

@Carol Howard It's not REALITY that everyone will have a good paying job.

[@13blackcats33]

If wages were raised accordingly, the price of everything goes up likewise; you want $15 min wage? Then get ready for $11 Big Macs.

[@Kermit46]

Not really, quality of life has greatly improved for everyone across the board. The poor have access to things only the rich had 40 years ago. Everything is substantially cheaper when it comes to technology. If you want to be rich its required to that hard.

[@ziksy6460]

@@Kermit46 I think you need to learn what inflation is. Next, find out what happens when inflation keeps rising while wages don't.

[@garygerard4290]

it's always someone else's fault Man up and deal with it: you pissed your life away

[@aaap3875]

How often was that woman with a nickel left eating out at the diner and talking about not being able to save?

[@dufus2273]

so much expert advice and so many are 3 days away from being homeless. don't believe these armchair experts . the real world is harsh/unpredictable.

[@benden5095]

If you fail to prepare, you are prepared to fail. Saving just $100 every two weeks from your check invested in a index fund at 8% average return for 40 years is over a million dollars for retirement.

[@terryedwards8367]

That patty melt looks good

[@rwg4397]

Complain about not being able to save, but you are a "regular" at a diner? Found your problem lady. Its not society, its you.

[@cherylT321]

Skid Mark. Maybe she goes there for the company!

[@troywalker2833]

Lol 😂 true

[@europeon2wheels89]

(** Note: Used to be snakechrmr above.) I disagree Greene. Everybody needs some consistency to help them stay centered in life. The problem isn't spending a few bucks a few times a week in the local greasy spoon exchanging stories with the locals. The problem is spending $20-$30 a week on cigarettes AND $80-$100/mo on cable AND $50 up/mo on a cell phone AND hundreds/mo on a newer car/insurance AND $20-$50/night a few times/week in bars AND "needing" the newest large flat screen AND etc AND etc AND etc. But the real problem is not putting a higher priority on saving than on all that other stuff.

[@priceandpride]

stop eating out

[@CaptainQueue]

I'm 67 working full time and plan to continue so I can max out my social security and not draw it until 69 or 70. Life dealt me two layoffs at different employers over the years so I have one very small pension, social security to come, and within a few years from now a paid off mortgage if I can continue working. Even with a small pension and small savings I feel I'm one of the fortunate ones.

[@kimchiba4570]

Hope you are better off now

[@FelixRealty]

Please give us update

[@CaptainQueue]

@@FelixRealty I am still working until I turn 70 this summer. I will be one of the few who do not draw Social Security until age 70 in order to fully maximize it. I am also working to have enough in 401k to pay off my mortgage. I just learned that employees can contribute to 401k until age 70.5 so I may even stay working until end of year. I am in very good health. Thank you for asking.

[@FelixRealty]

@@CaptainQueue 🥳🥳🥳🎊🎊🎊🎊🎊🎊

[@suepearn1323]

Get real.! Life throws many people unexpected tragedies and events. Certainly some when working don't save but that is certainly not true for many who have burdened their share of hardships. Remember.... never judge until you walk in another shoes." And for the majority stay clear of the "financial advisor" they make their money off of you!

[@douglaz74]

My response to all you people that say it was there fault for not saving and using credit cards that is a simplistic answer. Look at the structure of our economy and how it has changed. Until the early the 1980s companies produced goods to sell which is how they made their money. Since 1982 the financial industry took off fuelled by credit card debt and corporate mergers. What happened during the corporate mergers defined pensions that were promised were axed. Yes the same people that brought us the wall street crash in 2008 were responsible for the current state of affairs. I am sure I will get negative responses to my comments but deep in your hearts you know it to be true. No credit card debt no wall street profits to push the Ponzi scheme higher.

[@blackworldtraveler3711]

Doug Characky Saving since 4th grade and buying stocks with Schwab account since 10th grade. I was living in my car two years in the 80s while going to tech school and working. Mortgage rates was around 20%. Had two credit cards and used them like debit cards and invested in the corporations. Always lived within my means. I'm apolitical so not bothered with nonsense. Pension was cut in half and frozen but my 401k tripled to 1.3 million since 2008. Roth IRA is $540k currently. The several thousand shares of of Visa and MasterCard stock I bought at $6 a share is doing well and paying over $700/mo. reinvested dividends tax free. It is their fault. If we could go back in time and watch what they've been doing with their money through the years you will see it. Seen enough of it through the years.

[@douglaz74]

I repeat when companies cut defined pensions that is where the problems started. Image working for a company for 20 years with the promise of the defined pensions. However in the 1980s companies started to axe those defined pensions. As far as the 401 k I worked in the Financial Industry when the collapse hit in 2008. Most of those 401 ks were hit. People lost a lot of money to point they were bankrupt despite the so called promise of the 401 k. By the way 40 1 K was never intended to be for retirement. 401k can never replace the defined pensions. Right now the bubble is on the verge of bursting again because interest rates are going higher. I know what I am talking about I can imagine what will happen when this bubble bursts. The false promises of the 401 K will collapse as well.

[@douglaz74]

By the way he said you had shares in Visa and MasterCard. Where do you think they make their profits-people using credit. Yet you said you had two credit cards but used them like debit cards. Sounds to me that you were not living in your means.

[@douglaz74]

Yawn! It is evident you did well for yourself if this is true. How long this well last one can guess as the financial situation continues to decline in the USA. The us is in 20 Trillion dollars in debt www.usdebtclock.org/. Eventually there will be day of reckoning over that 20 trillion dollars debate. Wall Street has been spooked by the idea of higher interests rates that is had suffered major losses this year. Keep this mind Italy and Cyprus when banking crisis hit their countries the banks forced depositors with certain amount of large deposits to take a haircut. people found out one morning that the amount of money they had in their accounts had been cut to help the banks in crisis. Deustche Bank is going down the drain with several other to big to fail close behind. I have no doubt that 401 ks will be seized in an extreme crisis as well. History always repeats itself. In 1933 the FDR seized gold from people's bank accounts. In any case 401s were never meant to be retirement. Defined pensions is what kept people in the Middle Class. No more defined pensions no more middle class. The false promises of the 401 k is coming to an end as wall street freaks out about higher interests rates. I have not even talked about outsourcing and robots. Enjoy your life today because who knows what tomorrow holds.

[@blackworldtraveler3711]

Doug Characky Enjoy your life today because who knows what tomorrow holds??? You kidding me? That's something parents and grandparents should have said to you as a child. Ok I think I get it now. All of that you talk about must be new to you. Even posting a link to something I knew about since the 80s. You must be scared and worried. You should be enjoying life. The history lesson was nice but unnecessary. Everything you said is nothing new but I guess it is for you. You haven't figured out yet that life goes on. Been enjoying my life today and since on my own after high school. That's the whole idea behind everything I've said and have done. My dream career,investing,travels,learning to sail and other languages ,friends,memories,etc.. Everything you have been saying I've been hearing since over 35 years ago it's just tweaked and updated that's all. Heck I haven't even gotten married because of divorce,one sided court system,weaponized kids,starting over at 50 financially,etc.. Women have too much power with the courts. I've always avoided single mothers as well. Even had a vasectomy after high school.....Happy knife,Happy life! 😎👍 Met a lovely Italian woman over ten years ago on a Dubai/Paris flight and we've been together ever since. Not getting married and no kids. She has her own career,wealth,home etc. in Italy and don't need me financially. No drama,bastard kids,etc.. We both speak four languages. Already traveled together to about 35 countries and we can even single hand a 45 ft. ketch. You can worry about all of this not me. Like my 95 year old mom says whatever happens will happen. After the Bay of Pigs nothing bothers her or my dad. So bring on the high interest rates,alien invasion,or whatever. I'll take that over marriage,divorce, and weaponized kids any day. Heck I've bought 5k shares of robotics/artificial intelligence ETF and already more than 100% return so no big deal. I'm in aerospace and very much aware of outsourcing. Also a shareholder of companies that outsource so I benefit as well.....I'm not stupid. So in the meantime you get in fetal position and do all the worrying. I will keep enjoying my life. Retiring in 2020.

[@ngdavid755]

they spent like a lord while they were young...now they pay the price

[@farangdee]

Financial consultant ,good for the rich ,who can diversify ,for poor people you can get into debt trough risky investments or credit card debt,don´t use credit cards ever . Should have a house ,however small at that age ,frugal living ,don´t compare yourself with others who have more.

[@pinkrose5796]

If you're eating out on a regular basis INSTEAD of once per month, that could be why you're not saving money!!!! Shop the sales at your grocery store, TJMax, Marshalls, Ross for clothes, also some thrifty stores. JCP with coupons for items also, Take walks to exercise and stay healthy, less meds and longer life.

[@mkite715]

It’s sad to think all people in America don’t retire a millionaire. $100 a month invested in good mutual funds from age 25 to 65 grows to more than $1.1 million. But instead it goes to beer, cigarettes, and car loans.

[@Sandlin22]

Don't smoke, don't drink, stay in school, don't prematurely have children you can't afford, save 2% of your annual income for retirement and you can work a fast food job your whole life and be baller status.

[@callumsmith338]

Save 2%? Inflation is around 4%, you’d be losing money yearly

[@carlkpsplucky5554]

Why stop at 2%? If you get an employer match up to 5-7%

[@ChrisMFlorida]

Try 20%.. there are no balls with 2% lmao.

[@DrSchor]

dont smoke dont drink what do you do?

[@dallasryder8125]

Damn... this video aged well after 5+ years. Writing this on 3/11/2022

[@steelcastle5616]

I had to laugh when they brought up getting help from professional financial planners. Tens of thousands (perhaps millions) of people have had their retirement savings stolen by these supposed "experts". Better educate yourself and make your own plan and decisions. Those people are worse than used car salesmen.

[@dufus2273]

brokerage firms are scams.

[@cherylT321]

Steel Castle. I was thinking the same thing when that woman said that!

[@snakechrmr6398]

Add me to Cheryl T's list. when I retired 6 years ago at 62 I consolidated and took total control of all my investments. Since then I've not lost a penny. Every month i invest in one bottle of Jack Daniels and Harley parts.

[@markwhittaker6866]

@@snakechrmr6398 Fantastic stuff. Keep on keeping on.

[@rillawhat8142]

I agree. Financial planners are business people that benefit whether you make money or not

[@debbieframpton3857]

In the end you are responsible for your own retirement very few companies offer pensions

[@chesterwilberforce9832]

What is never talked about in these discussions about retirement is periods of unemployment. You can't plan for them, to be certain, and you certainly can't contribute to your retirement during them. In 2001 when the Nasdaq bubble burst 440,000 IT jobs vanished, Just as they were beginning to rebound, 2008 happened. Almost all IT work went to short term no benefits contracts. It is virtually impossible to jump from one contract to the next without a pay gap. I'm 70 years old , I work as a maintenance man at a church for 15/hour and I will have to ask for a half day off to go to my own funeral.

[@tmusa2002]

A lady sitting at a restaurant claiming she can’t afford to save? Try skipping the luxury of eating out and put the difference in savings. People are crazy!!!!

[@peggyghirardello275]

We r sixty two sixty five we had no education we married three months later we were young dumb but he got lucky he got in aerospace worked there thirty three years we had three kids we have nine grandkids we had lot bumps along way we bought townhouse still not padded off we refinanced twice we didn't save retirement but we r lot more blessed then lot seniors he retired fifty eight we have health insurance we pay bills on time every month we do ok we eat out we know seniors renting rooms living with thier kids working in thier seventies fast food

[@muradshawar]

Mabey if they were investing since they first started working and were thinking about there future instead of spending every dollar they make and more / and racking up credit card debt they would have something meaningful saved. It’s not a hard concept to grasp Spend less than what you make and invest the rest. I also have bills but when I’m done paying them I still have a decent chunk to invest in good ETF or Mutual fund or growth stocks or dividend stocks.

[@ajbee4706]

Murad Shawar It's easy to judge if you're making a living wage. The people in the video are low income, which means they probably never had enough money to save. They probably used credit cards and loans just to keep up with their living expenses every month. Poverty is a tremendous burden to overcome. They did not have the benefits others take for granted.

[@muradshawar]

AJ Bee I sit with people like this for free and do budgeting with them. FOR FREE. I am not judging I am stating facts. I go to the most poverty area in Charlotte nc and help people who always say we don’t have money we are poor invest. The truth is they have 100-200$ a month to invest but chose to spend it on eating out and movies and drinking. Or on electronics I have sat with 100s of people and helped them for free. I am not judging anyone. I dropped out of college at 20 years old I built a stock market portfolio from 19 to 21 and yes while I have a lot more to invest I help people out with making a budget and help them find jobs.

[@blackworldtraveler3711]

AJ Blackwell Very easy to judge since we've all been low income earners. Just come to a point to move on.

[@inkey2]

How do you invest when 1/3 of your take home pay goes to health insurance. Not everyone can find employment in a large company that subsidizes your healthcare

[@blackworldtraveler3711]

inkey2 Where are your numbers coming from? For a family of 4 making about $50k a year would be around $2k/yr. on the silver plan. With deductions and out of pocket varying. That's nowhere near 1/3 of take home pay. Silver- zero Gold-$3400/yr with lower deductibles and plan paying more for care. I would think that 1/3 would go to housing. Are you talking about people that had kids they could not afford,keeping up with the Jones,living beyond means,etc?

[@paulsaragosa371]

Power up gum balls machines

[@judyvaughn761]

How do you save money when you're making $7.25 an hour impossible

[@maxlewis2011]

Anything is possible I work 40 hours ....9 to 5 shift....the first hour of my pay is going to my investment fund. That's $7.25 per day times 5 days a week.....plus..I invest it 52 weeks a year...💰💰💰💰 Imagine adding 8 to 10% interest rate return. 💰💰💰💰

[@rillawhat8142]

It is possible, but many changes would have to be made. No matter how limited your lifestyle is right now, you would have to limit it even more, by giving up virtually every unnecessary expense. Clothing, eating out, subscriptions, cable, etc... and bank and then invest cent!

[@rayhill5767]

Why do you have no skills so you only get paid minimum wage? Develop job skills so you make more money. Not a mystery

[@ChristinaOstil115]

SSI and work, I can never save for retirement because SSI is tested means based program.

[@briannanicole830]

That’s great to have a savings account but But you should put at least some of it in a Roth IRA account for retirement... because honestly having money in your savings is good but at the same time its only (looking pretty) and not really doing anything...or gaining any intrest... the percentage you will get back is only 00.3 percent... you wouldn’t have enough momey to retire just by keeping money in your savings... have at least 2-6 months of a security fund saved so you wouldnt have to save as much and think of your Roth IRA as another savings account accept its basically money you cant touch...which will have a higher return... having 250 a pay check is 6,000 and year x 54 years(my retirement age) is 324,000 by the time you retire... and with all the interest you will gain it will be about 500,000 by the time you reach 54 But that also doesn’t include social security and my employer match.

[@leonardell-bon7104]

Insurances won't work. In most countries in Europe, we have government pensions even though we never worked with the government. It's enough to live a decent life.

[@williamjones1623]

You could be a janitor for a career and retire if you live within your means. Come on people this is common sense. Or you can be a doctor or some other high end profession and never retire because you live above your means. It is really simple. Most people don't get it though. At the casino there are so many people of all ages just pressing away money they had to work for. Then on weekends and week days there are people out paying $4-8 per beer/mixed drink when you can get a case for that much, then they wonder why they are working when they are 60? I am going to retire before 40. Is this a joke? No one wants to be responsible for their actions and that is fine. The news will talk about how 80 year olds are working at Mc.Donalds because the economy is bad, meanwhile the people who put their extra money into Mc.Donalds stocks are retiring early as fuck. It is a really funny joke if you aren't the one working to make up for time you wasted. And of course this is an over simplification. There are other compounded poor choices that make a person need to keep on going to work. IE if you marry and subsequently divorce and pay 18% of your income for a child for 18 years and go through an asset division/alimony payments. If you don't have medical insurance then have an illness. If you crash and don't have insurance. If you take out loans on loans and have to pay them back etc..

[@edercortes1960]

William Jones I’m a janitor I may be 35 and have some debt but if I put my mind into it I can pay it off and live with a good job that pays well and can get a good pension when I retire

[@garygerard4290]

William Jones = excellent! The best thing we can do for these losers is cut them loose and let them drown, The younger ones will learn that if they don't live below their means and save/save/save they too will be Tossed Out

[@cherylmitchell37]

@@edercortes1960 Any updates? 🙂

[@edercortes1960]

@@cherylmitchell37 just working and paying debts …it will take me time but at least I’m trying to be disciplined in what I can and can’t afford

[@louisc.gasper7588]

Save early, save consistently, invest savings in the broad equities market, reinvest dividends, and don't touch that account. The result will be that you will not be poverty-stricken in retirement, even if you saved as little as ten bucks a week on average. Granted, some people are going to be hit with bad luck, adversity not of their own choosing or making. There's no way around that happening to some of us. But for most of us, we can save enough to be secure and minimally comfortable in retirement. The numbers tell us, however, that most people don't do it. The most widespread bad idea is that because I can't save enough therefore there's no point in saving at all. That's deadly.

[@brianjackson5565]

Louis C. Gasper .

[@briannanicole830]

250 a pay check is 6,000 and year x 54 years(my retirement age) is 324,000 by the time you retire... and with all the interest you will gain it will be about 500,000 by the time I'm 54

[@inspiradorupees3029]

Invest in bitcoin...it’s all that matters

[@tmusa2002]

And to help with those bad luck things, you need health and disability insurance. If you can’t afford great health insurance, catastrophic plans are cheap.

[@KevLovesCrypto]

First rule of money is, No less than 10% of what you earn is yours to keep. Then must be used to earn more money, compounded over time it will turn into a nice nest egg. Everyone should be required to read the Richest Man in Babylon in schools.

[@joslu80eight5]

Everybody should watch graham stephan

[@thinkmackay8954]

Only free advice you can trust.

[@maysommers6360]

most people won't give a damn until the s*** hits the fan. ONLY THEN DO THEY REALIZE what we've been telling them.

[@richardbowers3647]

Brain wash & mind control works!!! Schools & movie houses had been in on it too!!! Says Lived-thru-it man!!!

[@warrenpeece1726]

It's sad when people wake up at age 65 and realize they don't have any (or enough) savings to retire on. Then their knee jerk reaction is to blame someone else - their job, their employer, the government.

[@landlord5552]

Good for her that she never asked "professional" advice!!!

[@LeapingRat]

watching videos like this makes me feel so much better about myself. ive been saving 40% of my income since my early 20's and plan to retire early.

[@hellooutthere8956]

Living at home with parents paying no bills yeah it is doable.

[@kitsiewr]

And die young of terminal smugness?

[@rillawhat8142]

You're definitely on your way👍🏾

[@paulsaragosa371]

I'm not sure if im am a little tiny bit of a tiny little brain storming

[@dvelop4975]

I bet the financial planner is living paycheck to paycheck ahha

[@swanseawales1979]

95% of them

[@stephaniehargraves6137]

How ridiculous these folks work all their life and people think they don't deserve Breakfast. That lady's still working I think she can buy breakfast if she wants. But our society would rather give to people who haven't worked a lick.

[@coltsgood99]

They’ll wake up if & when any sort of illness or hardship hits them/their friends & family

[@coltsgood99]

America tends to forget that if all of your neighbors aren’t doing well, it’s only a matter of time before you yourself probably won’t be doing well

[@srirachahero4679]

Old people are the biggest whiners ever - while they complain about the "younger generation", they've never saved and plan on "working forever"? How? Some 89 year old is gonna be serving coffee? They failed to plan and now they're getting desperate. When they find out social security won't pay for most of the things they need, welp. Good luck. Thoughts and prayers are with y'all. Don't expect the younger generation you love to badmouth so much to come bail you out.

[@blackworldtraveler3711]

Sriracha Hero Always lived within means,saved ,and invested. But been around baby boomers all my life and see why many don't have anything at retirement. I'm retiring early. Zero debt and home paid off long ago. My pension was cut in half and frozen 10 years ago but it will be $2800 a month which is fine because even though I live in an upper middle class secure gated condo community my living expenses are currently under $1500/mo.. Social security will be between $2k and $3k a month when I start it at 65 when I get Medicare. And I have 1.4 million in my 401k with $900k of that in Roth 401k. Over $800k in Roth IRA. Other taxable savings,investments,passive income,etc.. I can blend my retirement income anyway I want so I will lower my MAGI to qualify for big discount and pay zero premium (instead of $1200/mo.)for healthcare until Medicare begins in a few years. So can't complain.

[@jeffreyrichardson]

I think Eller's has a 401 K.

[@JohnAlvarado-th7tt]

There ain't no jobs here😵‍💫

[@donaldgaff2271]

Retirement is not an end, but a new beginning.Your dedication today will pave the way for a future filled with financial security and the freedom to pursue your passions.Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 50 and my wife 44 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income.

[@Alexedmartin.]

Congrats on your early retirement, Interesting indeed! Currently, I am in dire need of investment advice or tips. Last year, I hesitated and failed to take any action until the year concluded. However, this year, I am determined to try something new, as I am very receptive to various investment ideas.

[@donaldgaff2271]

@@Alexedmartin.

[@Alexedmartin.]

​@@donaldgaff2271 I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.

[@donaldgaff2271]

@@Alexedmartin. By looking for her name online, you can quickly uncover her information. She recently appeared on CNN and she is really simple to deal with no matter where you're located

[@emeldcentor1474]

@@donaldgaff2271 I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me

[@farhanpatwary9345]

Move to thailand

[@nomadictravelerfromTx]

Looking for a financial planner at the age of 66? Oh well.......

[@ButcherBird-FW190D]

At the 1:15-point, the 66-year old lady states "There is no retirement, get real". Uhm, well, hate to tell you there little lady.... There are loads of us at/near your age (to the 66-year old) who are just fine. Granted, the bottom 25% are pretty much SOL, and the next quartile (next 25%) are looking at limited options. But, the top two quartiles are doing just fine. Have been all along. So sit there belly-aching and complaining, see where it gets you. Right where she is, some old lady sitting around complaining and blaming the system, the government, etc. All she really needs to do is look in the mirror. Then she'll see why she is where she is.

[@hymanbjorn6768]

Women have to make better choices! R.I.P. young lady!

[@seymourbutts9085]

"Tryna make ends meet, you're a slave to money then you die."

[@CatTalesCrafts]

Stephanie Tucker was correct. For many of us, life's tragedy's can wipe you out. Having a family member or yourself facing a devastating illness turn your financial world upside down. Most people don't see that one coming, and with people living longer it's becoming more of a certainty.

[@Sandlin22]

CatTailz medical bills are irrelevant small monthly payment negotiated with hospital people do it all the time

[@BigRed2]

Sandlin22 A small % get screwed from medical issues but liberals will use it as if it’s a lot just like abortion being a women’s health issue when in reality it’s used as birth control 99% of the time, people just don’t save and spend and then when they get old they fool young naive americans into thinking they have been old and helpless their whole lives

[@93pljohnson]

Agreed...........so simplistic to be critical and judgmental.

[@cherylT321]

Sandlin22. I hadn’t thought of that! You’re right, as long as you’re sending them something regularly, they’ll leave you alone!

[@benden5095]

Dave Ramsey has a proven plan that works more people need to get with the program. When you are prepared a tragedy or an emergency becomes a mere inconvenience.

[@jon6309]

At this rate, delaying retirement might be the best option people will have in the future. I work in banking and most of my colleagues who were retired and well paid are now realizing that their savings are drying up faster than anticipated. I actually don't mind working pass retirement age if I have to, but I would probably get an easier job such as a clerk, receptionist, or assistant at a library.

[@raytan1661]

Why never say retire? The job must be easy, relax and a way to pass time.

[@dennispatterson4998]

gotta have a plan- without a plan- one plans to fail.

[@debbieframpton3857]

Good for the lady that's doing waitress work she was smart and saved I can't say the same thing for the lady that is setting their eating if she had saved that $5 a week it would be more than she apparently has now. Saving have to come first I quit working my full-time job as 65 I am now 67 as soon as I get my Social Security check I put $200 into savings and live off the rest for the month. I did this one I was working full-time set amount went straight to my savings into a Roth IRA and a 401k that I made my house payment car payment and utilities I was lucky enough to never have carried any charge card debt people can always find a way to save something

[@rillawhat8142]

Not saying anything against financial planners, but if they aren't telling you to save so you can purchase money generating assets, like rental properties, you still won't have enough in retirement. Most people just aren't running the numbers and really thinking about what it will cost to maintain their lifestyle and what it will cost to do a little extra. A little traveling, going out to eat, trying new experiences... in my opinion, PASSIVE INCOME is the only way to retire and enjoy that retirement!!

[@theadvocate1925]

B.S! All excuses. I have only a high school diploma and retired last year at 55 with $1.4 million saved. Again, I saved that amount on only a high school diploma and worked a IT Computer Desktop Support Job for the past 23 years with my last years annual earning only being $68,000. When I started that job I was making only $34k. Plain and simple these people spent more than they saved and invested during their working years and are now winning. To all the current 20-30 aged people, learn to cut back and live below your means and increase your saving and investing. That means you buy a used car and drive it for at minimum 12 years and live in a smaller home to start with.

[@sinebar]

That's probably good advice but not realistic. Most people want to enjoy life while they can. Spending 50 or 60 years of your life not enjoying anything only to end up at 70 years old with maybe 10 years left on the clock, is a dismal plan. Yeah you may have a lot of money saved but you sacrificed a lifetime of enjoying life for a few years of living comfortably. And most likely you'll die before you can spend down your savings which means someone else is going to end up with all your money. That doesn't sound like a good plan to me.

[@theadvocate1925]

@@sinebar Not at all. At 33 we built a brand new 5 bedroom 2,900 sq ft. home. With the kids gone it's now way to much and we are looking to downsize. I have accumulated multiple luxury watches many Rolex's. I own two Porsches, a BMW and my wife drives a Lexus all older models of course. None of these were bought new. Years ago I wanted a Porsche 911 and instead of buying one new for $90K I bought a 20 year old one for $11k. Now I say none of this to brag as none of this crap matters or pertains to happiness. I'm merely point out of if a high school idiot like me who as you can see with my last years salary of $68k can do it, what's everyone else's excuse?

[@movielover850]

I will never retire because I want to travel and that cost money and I will not travel cheap I will live my life to the fullest going on cruises and hikes . Long as I'm alive each dime will be saved for resorts!! And more vacations

[@bernie9728]

As the saying goes "failing to plan is planning to fail. It's never too soon to start. Your future self will thank you.

[@douglaz74]

Another thing: since 2008 interest rates for all savings accounts have been well below inflation. Saving is not as easy just sticking it money market and saving account anymore.

[@iemjay]

I would hope nobody is putting money into a savings account for retirement, where you'l earn at best 1.5% return. If you want to save for retirement, you need to invest. Fortunately, that's really simple.

[@douglaz74]

simple are you serious. wall street is a ponzi fraud. if they do not steal it outright they do it through fees

[@Falcodrin]

Doug Characky wow now you're someone who won't be able to retire without social security....

[@gdobie1west988]

Doug, that's why you use index funds, and invest with a company like Vanguard. Very low fees.

[@dufus2273]

they'll learn

[@unrealr33]

Always plan for retirement invest, own your own home and add to your retirement fund. Having no choice but to work in past 60y is a terrible way to spend your last years.

[@rillawhat8142]

Agree 100%👍🏾

[@dvelop4975]

aha yikes

[@PapaSmurf63B]

Victim mentality

[@cato451]

I think we need a millennial tax. Millennials should pay everyone over 60 to retire.