Nearly half of middle-class Americans don't plan to retire at 65, study finds

[@sharonwinson-m8g]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?

[@nicolasbenson009]

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

[@TinaJames222]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@Vincent-j8u]

Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.

[@TinaJames222]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Sophia Maurine Lanting’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@IamJonny-o4v]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

[@michaelwiebeck3]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@Olsontim21]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@Rachadrian]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@derrickholfman2]

@@Rachadrian this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@Rachadrian]

I've shuffled through a few advisors in the past, but settled with Annette Christine Conte her service is exemplary. I'd suggest you research her further on your browser, sure you'll find her basic info.

[@derrickholfman2]

very much appreciated, your response suggests a person of benevolence.. just inputted her full name on my browser, and came across her site, top-notch qualifications! she seems well-qualified

[@diane.moore-]

We experienced the pinnacle of our era, but it is now gone. Like what happened to Rome, the corrupt administration will bring this nation to an end. My condolences go out to anyone who is close to retiring and may be worried about whether their pension will be enough to pay the rising cost of living. Insane fiscal policy, poor regulatory policy, poor energy policy, and poor foreign policy

[@ThomasChai05]

50 and early retirement. I'm very worried about the future and where we're all heading, especially in terms of money and how to get by. I'm considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

[@mikegarvey17]

It seems like I used the FIRE movement to manage my finances. Investigate it further by doing some research. With the help of a financial professional, they were then successful when investing in stocks, cryptocurrencies, and real estate.

[@mariaguerrero08]

That's right. I am a wife, mother of four and new grandmother, 28 years in Corporate America, retired recently at 57 after discovering the freedom investing could provide, been contributing to my portfolio since the pandemic in early 2020, and have grown a $250,000 savings account to almost 1 million, credits to my investment advisor.

[@Susanhartman.]

@@mariaguerrero08who is your advisor please, if you don't mind me asking?

[@mariaguerrero08]

'Izella Annette Anderson' maintains an online presence. Just make a simple search for her name online.

[@MattGrimmett]

"Nearly half of middle-class Americans AREN'T ABLE to retire at 65, study finds." There, I fixed it.

[@sherice1730]

Thank you. There’s a difference between not planning and being unable to.

[@TommyTomTompkins]

@@MattGrimmett they probably work till they die

[@masterofnone2705]

And also, thinking health will keep up beyond 65..

[@drewconway7135]

Well, no. If you had actually watched the video, you’d have heard them acknowledge that not all the people in the survey said that they could not afford to retire at 65, and that many people want to continue working past 65 because they want to, not because they have to.

[@Congtrihayankeomut]

Officially life expectancy of American is found to be 74-77. I don’t know where the 90yo come from

[@benjamindavidson22]

I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.

[@phillogan1]

Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.

[@Johnlarry12]

I completely agree; I am 60 years old, recently retired, and have approximately $1,250,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!

[@emiliabucks33]

who is your advisor please, if you don't mind me asking?

[@Johnlarry12]

Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@emiliabucks33]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@phuongha3113]

The middle class is now the working poor. The new middles class is the upper middle class.

[@stache1954]

And even that's rare.

[@goyam2981]

But the rich got exponentially richer...

[@williamMaezawa]

​@@goyam2981that's right it's always the case

[@goyam2981]

@@williamMaezawaIf a future crisis happens and they print money in the trillions again we're doomed. 😝

[@alanwong8307]

You let yourself be fooled by the "Middle Class" tag. There is no such thing as Middle class ever. In the old days, they call you either Peasants (works the land) or Lords (lives off the land). Now it is the working class vs the financially independent. But same meaning. If you want the latter: (1) born rich (2) marry rich (3) create a profitable business (4) live below your means, save and invest on assets with a proven track record, be patient knowing that compound interest will not work overnight, do not get suckered into the next speculative FOMO product, be okay accepting market average returns (because average returns compounded for a few decades is powerful), buying low cost passively managed index funds to diversify your portfolio, always buy (dollar cost average) and not let bad markets scare you, take advantage of tax free growth (ROTH accounts, HSAs, etc), stay away from debt even though it leverage can multiply your gains, but can also multiply your losses and by your late 50's, you should be in good position to retire. Most of this can be automated (401K, IRA, HSA, non-retirement brokerage, high yield savings can be funded every 2 weeks via automatic recurring transfers after you set it up once). Once the money comes out of your account, you won't even miss it, because you learn to adjust your day to day budget.

[@organichemone]

People don’t want to work longer, they have too. The only fix that’s needed is for the government to pay back what they stole from social security.

[@lovable_misanthrope]

The government needs to stop printing money/quantitative easing. Inflation is what's killing Americans. Retirees are, for the most part, much better off than the younger generations tho because they own most of the assets.

[@loganhawkins6486]

the goverment just needs to stop paying, cut spending. If the fund something, the inflation they create makes it worse then what it was

[@esousa486]

SADLY that will NEVER HAPPEN here in the U.S. .... Politicians are WAAAAAAY TOO GREEDY,

[@Noneya-z8j]

Spend less than you make. If you can't, it's no one's fault but yours.

[@hollybardoe4075]

You may say you're not going to retire at 65, but your company may have other ideas. I was laid off at 67, along with 12 other people over 55. The company got around the age-discrimination thing by eliminating our jobs from under this. No one is really safe these days.

[@twilde3754]

Yes, I wonder about this too. My plans are to work as long as I can -- that may not be my company's plan...who's going to take a company to court for wrongful "elimination"?

[@nee_belmont]

having 20 years in a company is also a sword i have seen... so you started at 20... at 40 they say good bye... i don't want to pay you... you go to the market and companies say "i don't want old people... i want to pay minimum salary to a 20 year old"... so... at 40 you are unemployed...and 25 years before you are "officially old"

[@gr8macaw1]

I wanted to work until 70 as I enjoyed my work but after 2 hip replacements I had to retire. Now I have a roommate which is OK. But money is tight.

[@johnawara9719]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[@IbrahimIsabella-00]

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.

[@johnawara9719]

@@IbrahimIsabella-00 That's actually quite impressive,....

[@IbrahimIsabella-00]

You can look her up online.

[@IbrahimIsabella-00]

MARGARET MOLLI ALVEY

[@IbrahimIsabella-00]

Nah I Can't say I can relate, MARGARET MOLLI ALVEY charge is one-off and pretty reasonable when compared to what I benefit in returns.

[@tonioyendis4464]

Don't over-think it; retire at 65, because that's when Medicare kicks-in. The key is: pay-off all bad-debts i.e. credit-cards, auto-loans, etc. Also, pay off mortgage. It's much easier to manage retirement when you get these things off your plate.

[@marie2511]

Thing is, you won't get all you're entitled to at 65. The new retirement age in America to receive it all is 72. The French rioted in the streets last summer over their president increasing the country's retirement age.

[@GBU61]

The Boomers lived beyond their means, were given all sorts of opportunities to set themselves up but didn’t. This is what happens when you are not fiscally responsible. I am a Boomer and I retired at 53 due to understanding the basics of finance. If you dig deep into why they are struggling you will see in a majority of cases they were their own worst enemy.

[@snow40741]

I am 58...totally debt free...no mortgage...working mostly for the health insurance...if I can figure how to pay for health Insurance I would retire sooner than later!

[@alanwong8307]

@@snow40741 You could have funded an HSA plan starting in 2003 and have 21 years of compound interest working for you and the investments are triple tax advantaged (meaning you contribute with before tax dollars like a Traditional IRA, but unlike a traditional IRA, both the basis and the earnings are tax free upon withdrawal, which behaves like a ROTH account). With 21 years of compound interest growth, fully tax free, you can use that HSA money to fund private insurance between age 58 to 65, when Medicare kicks in. If you pivot from your plans and want to work longer, then you don't have to use that money for early retirement, but let it to continue compounding for another 20 years and then use it for end of life long-term care instead. It is truly the best investment Congress allows us to have. You will have to use the $ towards medical use though, converting it to IRA money will cause the account to be treated like a traditional IRA and you then will have to pay tax, but it is the perfect healthcare retire early solution.

[@hawaiianmango4556]

I don’t care, I’m risking it and going without Insurance and could care less about the max benefit. I may live on less but gain more by not having to worry about damn deadlines, Ai taking my job and layoffs.

[@tmo7734]

Isn’t that crazy? The wealthiest country on the planet and seniors have to work forever…

[@joseph10704]

yeah but even if u too the richest people on this earth and using there money to fix SSI guess what it wont work.Hear is why america keeps on spending money and printing money. when u do this by raising taxes people have nothing.and by printing money u raise inflation .to fix this u lower taxes u stop spending and giving money away to wars and none legal aliens.U close the border u stop letting drugs into this country its common sense.

[@tmo7734]

@@Anomaly_2024 We are wealthy in many ways: natural resources, the brightest people, strongest economy , the most clout of any nation on the planet, etc. Our problem is misplaced priorities. This nation has plenty of money for military weapons while many American citizens struggle to make ends meet.

[@msheidiho2004]

Income inequality

[@TheRealEdStoner]

@@msheidiho2004it more about money management.

[@manuvns]

The wealthiest country does not mean wealthy citizens .

[@Jeffery-f2e]

So far I'm doing good, approaching retirement with about 800k in savings. Transitioning from building wealth to spending can be scary, especially with soaring inflation. My question is, after maxing out my tax-advantaged retirement accounts, what next?

[@Fred-w7t]

In my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor

[@natureboy1313]

​@SarahBrown-h7nHas she gotten her license back? I heard it was suspended a few months back.

[@rebecarodriguez91]

You could invest your money as well. Staying active and having daily tasks that continue to stimulate your mind will help you retire "healthier" and can make the process more enjoyable. Research shows that if you don't stay active during your retirement, you will not live as long and your health will drastically decline.

[@StephSH]

The trust fund would have been fine if politicians would stop stealing money from it. I’m retiring at 62- I don’t care if I have to live in my travel trailer to do it, I refuse to work until I die of old age.

[@a.e.7988]

Amen!! Why make the government richer??!!

[@jamieberry1813]

Same here 62 and I am done.

[@wolfe5047]

I am 61 and the government isn't stealing your money. They are borrowing it and repaying it with tax money at rates equal to the interest that T-bills pay. Unfortunately, T-bills don't keep up with inflation. Just like the COLA increases on Social Security don't. And Social Security is a pay as you go system you paid for your parents and your kids will pay for you. And it used to be more people paying in than collecting, that is slowly changing. And no-one wants to discuss that we have known for Decades that it would run out of money. But they wouldn't do anything to change it because whatever they do it is going to impact someone and so they lose votes.

[@dennistyler9852]

62.5 is enough for me. PT job will work.

[@JosePerez-ml1zl]

how about health issues stress not only that dont forget the old workers silent descrimination

[@Hotspur62]

I started to aggressively save when I turned 45 and was able to retire at 59 and am now spend my time traveling (while my body is still in excellent shape). Off to Asia in two weeks and returning to NYC in late December. Retirement life is good.

[@masterchinese28]

Good on you. It's heartening to see success stories.

[@100chippypark]

Great. What did you do for work?

[@HughJass-313]

I started to aggressively save 3 years ago (thanks to a new job). I'm hoping to hang on for another 3.5 years... And then go parttime for another 3 years. Then can move overseas at age 52 ❤❤

[@gimmeshelter1969]

@@HughJass-313Common theme here (meme) is that the United States is no longer perceived as a great or even a good place to retire but instead has become a liability for millions of Americans who have been left behind by the political power structure. So, so different a country than the one I grew up in.

[@HughJass-313]

@@gimmeshelter1969 Gotta roll with the punches 😜

[@Vikturneer]

I remember having a consultation with a fiduciary last August, and it was incredibly insightful. Looking back I'm glad I made the decision to invest. Can’t stress enough how helpful experts in this field are!

[@CamilaBadde]

How are you able to do it? Not everyone is as lucky as you know.

[@Vikturneer]

Luck is way off the picture. Jonas Herman, a licensed fiduciary is the brain behind my success. I've gotten into a plethora of assets with $19k spread across stocks (options and futures) for the short term and Roth IRA, index funds, cryptocurrency and ETFs, for the long term. Now with over 91k in roi, I sit back and just reinvest at intervals while I handle my other businesses.

[@Sammytammy192]

To me, investing is not worth it and I know that's the same mindset holding me back from taking a step forward in my finances. It’s all gambling.

[@Vikturneer]

Sure Hermanw jonas that’s his gmail okay

[@floydchusset3143]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@majidcoper]

Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.

[@ryanthompson8256]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 64. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@ashwinaditi1039]

pls how can I reach this expert, I need someone to give me a guide on how to manage my portfolio

[@ryanthompson8256]

Laura Grace Abels is the licensed advisor I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@floydchusset3143]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@josephschmidt2183]

I’ve known so many people who claimed boldly “I’m never gonna retire “ and they didn’t prepare so when Father Time caught up to them they were in a jam. Get yourself debt free and save as much as you can starting as early as you can.

[@7SideWays]

Dollars are seeds. If you don't plant any while you're working, there will be none to harvest.

[@natureboy1313]

Hey great analogy.

[@nicksideris2600]

awesomely said

[@josephsumpter3870]

trying to get people to work until they’re in the grave 😢

[@CJMcDonald-xn7mn]

Live below your means. Stop spending on things you don’t need. #1 - STOP buying fancy cars that sit in a driveway 20 hours per day.

[@Richard-i6m4m]

The middle class gets no help or benefits unlike the super rich or super poor in America

[@morriselee]

If may be difficult to become super rich, but it can be quite easy to become super poor. Were super poor get so much help or benefits, do you want to become one of them?😅 I know I don’t.

[@user-fr3hy9uh6y]

Someone should remind this channel that the SSA full retirement age is nor 65. It hasn't been for years.

[@dennistyler9852]

Medicare is 65.

[@pacitaallen722]

I would like to see Medicare to pay 100 percent instead we have to get supplementary insurance and still have to pay deductible n co pay

[@Karen-tr8jo]

Stop keeping up with the Jones’s, buy a used car with low mileage , pay off mortgage a.s.a.p , cook your own meals, buy clothes and shoes at thrift shops when needed, live below your means and put money into things that go up in value .

[@DechessPlayurrr]

Your the only Karen I like, a darn smart one too.

[@Lemariecooper]

I plan to retire or reduce my work hours in five years, and I'm interested in how others allocate their income between savings, spending, and investments. I currently earn about $175K annually but haven't built up much in savings so far.

[@jessicasquire]

There are numerous strategies to achieve high yields during a financial crisis, but it is crucial to undertake such trades with the guidance and supervision of a professional financial advisor to ensure informed decision-making and risk management.

[@Erikkurilla01]

That's true. I've been assisted by a financial advisor for almost a year now. I started with less than $200K, and I'm just $19,000 short of half a million in profit.

[@Erikkurilla01]

Nicole Anastasia Plumlee is the coach that guides, you probably might've come across her before I found her through a Newsweek report, she's quite known in her field, look-her up.

[@Westcoastguy]

SCAMMERS 😂😂😂😂. Here come the names of financial advisors 🤣🤣.

[@natureboy1313]

​@@Erikkurilla01How can that be? I heard she lost her license months ago.

[@StarDust-vm1qs]

America is great for the top 10% - Not so much for the rest of its citizens.

[@Skoda130]

And rightfully so.

[@gimmeshelter1969]

So true, and especially so if you own thousands of shares of Nvidia stock!

[@marcvslicinivscrassvs7536]

Most countries

[@AK-qo6tx]

@@gimmeshelter1969 blame on the FED and their money printing and low interest rates rewarding the rich.

[@goyam2981]

For sure money printing with hopes it would trickle down. It did trickle down in the form of higher rents. 😂

[@eddieg6436]

…..a Social Security check isn’t to live off of in retirement (that’s what you’re Roth, Traditional IRA, investments are for), the S.S. Check should be the cherry on top of the cake!!!

[@HughJass-313]

Fax! I'm collecting at 62.... and just hoping to use it for my medical bills

[@rbfarrell1]

Yup, but you sound smart and disciplined and that is far from the norm in the U.S.

[@72Crabadams]

The life expectancy numbers are actually going in reverse now. We’re eating chemicals, breathing toxins and drinking water laden with plastic. We won’t live to see a retirement due to stress anyway.

[@recoveredconservative]

And Republicans want to raise the retirement age in an era where life expectancy is declining. It's blatant pandering to the super-wealthy.

[@HughJass-313]

Whelp.... I guess *PROBLEM SOLVED!* 😂😂

[@daw7773]

I agree, As a health care provider I noticed most who live past 70 years old have a series of diseases(e.g. hypertension, diabetes,cardiovascular) which will prevent most from living past 80.

[@alanj9978]

Drug addiction and eating primarily processed foods are the biggest drivers of reduced life expectancy.

[@alanj9978]

@@daw7773 Those are all the same disease; metabolic syndrome, caused by bad diet. Eat whole foods. Get rid of the sugar and excess carbs.

[@thegoastofmccain5368]

Um hello! We allowed nearly every corporation in the country to get rid of pensions!

[@marie2511]

Nobody wants to talk about that part. All the old people got the pensions, we got stuck gambling with a 401k. Some bs

[@TheRealEdStoner]

The problem is no one stays at a job long enough to qualify for one.

[@thegoastofmccain5368]

@@TheRealEdStoner can’t qualify for something that doesn’t exist.

[@NomenClature-o8s]

@@marie2511A 401K invested in a secure S&P500 index fund will do far better than a pension.

[@TheRealEdStoner]

@@thegoastofmccain5368 if I was starting my work life now I would rather have a 401 K match of 10% then a pension.

[@franklinb1224]

I'm so tired of so called money managers recommending delaying Social Security. You rarely hear them talk about quality of life at a later age. Money is no good if you aren't able to do anything with it but go to the doctor and pay for medications. It's like you're paying just to exist, not truly live. A break even analysis combined with a quality of life estimate is probably a better approach. Just my 2 cents..

[@Whooshta]

How do the people raised by the parents of the Great Depression not have a culture of saving for retirement and frugality? I was raised by those great grandparents and it is ingrained in me.

[@Hunterhunter-ir9nz]

Yep. I started saving at 17.

[@richiemochi]

Yea... promoting working pass 65 yrs old. I need naps in my 40's. No one wants to work pass 65. Many people start developing health issues after 60 yrs old.

[@alphaomega1351]

No worries. Not many companies are eager to hire senior citizens. 😳

[@spcysos]

You mean people can’t invest for 30 years and become wealthy? Ugh. That sucks. When there’s a will, there’s a way. Also have to be financially responsible for your actions.

[@Bigwilli123]

It’s becoming more common, and it's not necessarily by choice. Between healthcare costs, inflation, and unexpected expenses, I think some people are being forced to rethink retirement. It’s tough to see folks who worked their whole lives feeling like they have no option but to keep going

[@keithss67]

Meh all you hear is about people taking early withdrawals from their retirement accounts to fund their lifestyles. Ditto with their mortgages. When I was growing up everyone’s goal was To pay off your mortgage and retire debt free. Now, people use their homes as an ATM. They don’t save and they live with constant revolving credit card debt.

[@UncleDavesKitchen]

I'm 70 and still work as an RN because I love being a Hospice Nurse.

[@jivefive99]

Employers say they need more workers, but they really dont hire anyone. The signs stay up for months.

[@RowdyLpx]

Corporations create unemployment. They take credit for "creating jobs" when they hire, but when they layoff thousands of workers at the first sign of adversity to fudge "profits" out of thin air, the government gets the blame- very profound phenomenon. The vast majority of corporate jobs are seasonal given the reality that they will fire you in order to continue hoarding wealth without hesitation whenever they experience a gust of wind.

[@jivefive99]

@ewoksalot There are theories about why companies say they are hiring .. and say they are hiring .. and say they are hiring .... but thats for a different conversation. I do worry about people like you tho. So dependent on 2-4 jobs at once that it never occurs to people that bad things happen and work stops. Dad fell 2 weeks ago, hit his head and may not talk again. Stuff happens. I hope you have a plan for your family if something happens to you ... cause it likely will.

[@Fitlessblog]

I don't mean this in a morbid way, but I'd rather retire on time, live comfortably for 10 to 15 years, and then unalive myself. Seems the most practical.

[@drblitz3092]

Or just live in your car at the end

[@qatarworldcupwinnermessi]

Don't give up, don't ever give up.

[@ToniTruthArt]

Just move to cost rica or Philippines.

[@HughJass-313]

​​@@ToniTruthArt Yep!! I started planning my *EXIT STRATEGY* 3 years ago (thanks to a new job). I'm hoping to hang on for another 3.5 years. And then go parttime for another 3 years.... or I'll just pack & move overseas. ❤❤

[@TrollinOn22s]

I would like to retire early, but I don't have enough invested and have to work at least 35 years to get my full benefits.

[@grantaugustyniak6667]

Most folks are not prepared for retirement. You haf to have your house,car,credit cards, everything paid off. You need a saving of some sort as well. Most people cannot live within their means during their work years - not alone in retirement.

[@edhcb9359]

You could give every American family $20k more per year in income and 90%+ wouldn’t save one dime of it for retirement. They would use it on new cars and dining out.

[@markalexander832]

Very true. My dad used to say that if you're going to redistribute income, you're going to have to do it every Friday, because the same people will be ahead and behind by the end of the week.

[@rbfarrell1]

Yup, I am a landlord worked and saved for years to have investment property. Many times my tenants have brand new cars, my truck is 12 years old. And I can easily buy a new truck with cash.

[@rbfarrell1]

Yup, people will say if they just had $1000 a month more they would be fine. Give them the $1000 a month more and a few months later they are saying if I just had $1000 a month more. lol

[@dtaylor939]

A great economy is one where people can retire comfortably when they reach retirement age.

[@stache1954]

With free health care.

[@Dashriprock4]

So in other words: the Nordic model

[@gimmeshelter1969]

Definitely not the Biden model.

[@RowdyLpx]

Republiecans raised the retirement age to 85.

[@dtaylor939]

@@RowdyLpx no they didn't

[@alphaomega1351]

They won't have a choice. Not many companies are interested in hiring anyone 45 years or older. 😳

[@asterisk911]

Good point. Which raises the question: if you spend 8 hours each day rummaging through trash cans for unspoiled food to eat, scrap metal or cardboard to recycle, etc., does that count as "retired"?

[@timtebowfan628]

So true and ageism will get worse than it is today.

[@AlohaChips]

@@timtebowfan628 Seems a bad bet on these companies' part. The birth rate in the US is below replacement rates. So unless immigration of able workers completely compensates in coming decades, companies may have few alternatives regardless of how much they don't want to keep older workers.

[@alphaomega1351]

@AlohaChips Quality over Quantity There are too many people as it is now. Not enough quality jobs, housing, and other resources to go around. Unlimited growth in a finite world 🌎 is impossible. Less is Best. 😳

[@a.e.7988]

Speak for yourself 😮

[@larskaminskidk]

America's biggest problem is insanely high health care costs. If we compare with Australia. Then Americans each pay $4,000 more for health than in Australia per year. Imagine if that money was used for retirement savings

[@patricedixon2634]

Truly pathetic that the 🇺🇸 is the ONLY industrialized country without universal/ national healthcare. Truly a disgrace!

[@jaivillanueva3483]

People are unable to retire due to corporate greed and the government's failure to address illegal corporate practices, such as "restructuring." This often means pushing out experienced, higher-paid workers to replace them with less experienced, lower-paid employees. Additionally, the rising cost of living and increased tax burdens make it even harder for people to retire comfortably - PERIOD

[@barrymickelson1184]

I am 71 handicapped and I wish I could still work. Working is better than sitting around!

[@tonylevine2716]

Nope, respectfully disagree! There is A LOT you can do in retirement and it doesn’t involve working till you die.

[@brianbieron4733]

Regardless of when most Americans "plan" to retire, the majority are forced out of the workforce before they wanted to. The big culprits are health problems, rampant corporate age discrimination, and the need to care for a loved one. So odds are you will "retire" before you planned. You've been warned.

[@irwinsaltzman979]

Very true .

[@tmo7734]

Waiting until workers, even those with experience and high levels of education experience the effects of AI.

[@BlackandBlessed100]

At the age of 50… Don’t give anyone money No kids no charities Save All your money For retirement $$$

[@kevinhays2142]

Yes, but may want to change the age from 50 to 16

[@HughJass-313]

​@@kevinhays2142😂😂

[@kevinhays2142]

Young people will not work until they retire, they will work until they expire.

[@TheRealEdStoner]

@@kevinhays2142well said.

[@TheSnerggly]

Great advice, I stopped giving to charity when the pandemic started, except for a little bit here and there. NO more. I don't have kids so can't speak to that one.

[@dennistyler9852]

If I was middle class, I could afford to retire early. Things changed, Company closed, health declined but still aiming for 62.5. That’s enough, maybe work PT.

[@SharonLeduc]

What middle class? There is no middle class. This is total gibberish .

[@elviscobb5922]

There is a Middle Class. They are what was known as the former Upper Middle Class. The former Middle Class is now the working class.Each State has wage information that identifies who are considered Middle Class.

[@somedude2420]

Start working at 15, work 55 years to 70, to hopefully get 7 years to enjoy.....silly rabbits.

[@MyJeffrey1970]

“ Silly rabbit “ Tricks are for kids

[@nickfoleie2074]

Idiotic statement. No one has to work 70 years to retire comfortable. Maybe decades of car payments to keep up with the Jones have them AND the Jones broke. Never putting money 401k, or Roth, credit card after credit card maxed out. Your financial future is solely your responsibility. My wife and I were never high earners. The opposite really. We've done extremely well just making some basic sacrifices. Now we're retired and relatively well off. No inheritances or government help.

[@spcysos]

@@nickfoleie2074agreed, most do not understand that they are in control of their retirement and think that someone else will help them!

[@ibmtpx24]

Started my full time job and saving at age 37. 10 yrs later my net worth reached $1.4m this year. Still remember my 65% pretax saving rate and driving a 96 Accrod that had to let go when it's repair cost exceeded double amount of its value. Now I travel for vacation 4 times a year and eat much better ( so many bad memory of Raman noodles and home made burritos). Will give it 15 more years to save towards $4m goal before thinking about retirement or doing things I like.

[@pledg44]

@@nickfoleie2074 Must be nice. But not everyone has had your lucky life. Count your blessings and be more compassionate. You don't know their life.

[@ddavidson5]

If you plan to work beyond 65 you may find that your employer has a different idea about how long you will be working there. Everyone I know was "downsized" in their mid-50s and most never found work again. Age discrimination is alive and well.

[@TL-s1b]

If people can work in the medical field there are a lot of nurses over 65 years old quite a few by choice too. I only know one who retired at 65. The rest were 68-74.

[@ddavidson5]

@@TL-s1b I suppose that's good news for those already working in the medical field but I can't image a mid-50s man with decades working in, for example, an IT department (where I spent my career) then transitioning to working as a nurse for the last few years of his career. Would someone even hire a man approaching 60 as a trainee nurse? Maybe but it's hard to imagine. This is the problem I saw people run into when they were downsized out of a job in their mid-50s. It wasn't that they wouldn't work or try something new it's that no one would hire them, either in their previous field or in something new altogether. No employer wanted to go to the trouble and expense of hiring and training a new employee that they believe will only hang around for a few years until they qualify for Social Security (or run into health problems?). It's not impossible but extremely difficult to restart a career at that age.

[@HughJass-313]

Yep!!! I'm hoping to retire by 52.... Then moving overseas❤❤

[@ThomasSchwalb-d9n]

The painful result of decades of consumerism, debt and no savings and unhealthy lifestyles.

[@bradbradshaw-i4n]

they had 50 years to plan for it and did nothing.

[@dennistyler9852]

Not everyone

[@hubertvecht7255]

BS no one wants to work past sixty five! Corporate greed has kept wage growth nonexistent 😢

[@geoffoakland]

Raise the taxable income threshold for social security contributions,currently at $168000, it should be at least $100,000 more, that would bolster the SSI trust fund.

[@coolben854]

Recession is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire..

[@face2lune]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..

[@izagdlife]

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

[@coolben854]

@@izagdlife Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...

[@izagdlife]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@coolben854]

@@izagdlife *Mr Gary Mason Brooks* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@casienwhey]

There is no positive spin to this. It just reflects the decreasing wealth. Most people would rather not work in their golden years.

[@easy288]

Enjoying your trickle down now? How bout them tax cuts?

[@johnhender]

How can you save for the future when you are trying to survive the present ?

[@anthonypanneton923]

Many people can't tell the difference between what they need and what they want.

[@ddellwo]

No doubt that is part of it…….👍

[@kevinhays2142]

You are right. Like do people really "need" to eat every day. Or "need" to heat thir homes.

[@rr5837]

I said this all the time. What you want is deferent than what you need. Example when people buying houses. They buy what they want not what they need.

[@jefforceone]

From my experience my company doesn't want me to work To 65 Because I make too much money. I got 39 plus years I'll be 60 in October.

[@ToniTruthArt]

Retirement plan should be to move to a more affordable country.

[@DanielHBuchmann]

That’s my plan.

[@GBU61]

I did 10 years ago. I live in Latin America and where I live (Colombia) I can pay my rent and food for $800/month. $1500 allows me to live very well. But if you are going to come to this region, Spanish is mandatory! Here is the catch. Half of all Americans who actually try it, don’t even last two years.

[@esqu1re]

Consumerism and lack of financial education and planning are what cause the inability to retire for those who make median income and up.

[@TheRealEdStoner]

If you’re in a situation where retirement is going to be tuff or nonexistent make sure you at least let your kids learn from your mistakes. Get them started ASAP.

[@meatgravylard]

Good point. The vast majority of Americans that are in a hole dug it.

[@GBU61]

My daughter is 22. I plan to leave her about $150k in cash plus I am setting up a long term index fund that will pay dividends when she retires. If we both contribute it will grow really well over 30 or 40 years and she will not have to face the problems most Americans are now. If Americans would think like wealthy people and understand that money should be generational, we would not be in the mess we are now.

[@TheRealEdStoner]

@@GBU61 my oldest daughter who is 32 managed to save monthly when she was in the Peace Corp 10 years ago on what little spending money that it gave them each month and now with her better paying job she’s well on her way to early retirement if that what she chooses.

[@DiegoVelasquez-r3x]

The average US citizen doesn't plan to retire early because they often struggle with financial insecurity, inadequate retirement savings, and a lack of confidence in their ability to maintain a comfortable standard of living in retirement.

[@Congtrihayankeomut]

😮

[@frankfurgess7946]

Modern day slavery

[@StewDanko]

This isn't new. I'm 75 and still working part time and are afraid to retire still. This isn't a government problem; it's a social problem. People refuse to to live within their means.

[@tyleryoung1683]

She really said a POSITIVE sIde to this SMH..... Talking bout volunteering, im not doing none of that crap when im old, im tryna be in the house chillin or on vacation. Who in the hell wants to work there whole life. GTFOH

[@jiminibops]

I'll have 30 years at 57 and I'm done working. Time to play!

[@julies3223]

@@jiminibops good for you!!

[@gregorywilson2124]

Very funny. She’s giddy. These are serious issues.

[@aquicktake]

Retire at 65? You generally have 8-10 years left to live. If you're thinking you're going to live until 90+..... think again.

[@DondiniMontefusco]

90 years old?? Delusional!

[@hawaiianmango4556]

They stole from Main Street to Pay Wall Street! How about bailing the working class out?! I don’t care if I go without food. I will be retiring, I’m sick of the long hours and being burnt out!

[@mdmarko]

Some of us retired at 59, ten years ago. It's all in the choices people make.

[@kimmayer9007]

I need a Golden Girls situation

[@Healthwithleo]

I don't even- know where the stock market is hea-ded to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .

[@adelineChulack]

i'd advise you redistribute assets in your port;folio with the help of a pro so you don't get burnt in the market

[@RosadorcasSladeWiggins]

I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $1.2M portfolio surged, yielding an annualized gain of 28%.

[@McKnightCutkosky]

Your advisor must be really good, how can I get in touch with them as my portfolio isn’t doing well.

[@RosadorcasSladeWiggins]

She's Dianne Sarah Olson by name. please do your own research to see if she is suitable with your goals

[@iuordanmatkov261]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get

[@lynnepopash2292]

The biggest issue is healthcare and insurance until you turn 65.

[@patricedixon2634]

Medicare is expensive and so many rules but at least this current administration helped with Medicare being able to negotiate lower prices with pharmaceutical companies set to begin in 2026.

[@recabitejehonadab2654]

Illegals don’t seem concerned about health care.

[@AdmiralBison]

There is *DON'T* and *CANNOT*

[@fischook1238]

MOST PEOPLE HATE THEIR JOBS. THEY NEED THE MONEY THAT IS WHY THEY WORK💰

[@CarolLustgarten]

I had a job I really enjoyed. Changed my career in my early 40s. Went back to school. Moved from Boston to California and worked for the city of San Francisco for 10 years. Best job ever. And a 3 hour commute per day. 1 and a half hour each day. Worth it. Really liked my job. 😊😊😊😊

[@Internet_Hobo]

Life expectancy in 1950 was about 46 years old; it's 73 in 2024. Less than 15% of Americans were obese in 1960/62; today it's over 40%. Ever see anyone old, overweight...healthy, happy, and retired?

[@jeffreyjackson5229]

I saw this 20-25 years ago that the majority of us wouldn't be able to do so. All I did was watched the cost of things and surmised where we would be at present and going forward. The most that you can do is try to keep yourself in good health for work or pool your resources and share housing and etc if you can to retire.

[@CarolLustgarten]

I am one of the lucky 🍀 ones. Worked hard. Started to invest in my 30s. Got a good education. Good jobs. Retired at 58. Bought my condo cash. Never married. Not interested. No kids. No thanks. Travel. Got social security at 62 and have a pension too. How cool 😎 is that.😊😊😊

[@FriendofMineralTown]

I don’t plan on it either. I plan to pass away from old age at 45

[@MBT372]

Lol

[@Lex1uth3r]

Retirement? I hope to stroke out in my late 50's with how much the cost of living and garbage pay are.

[@masterchinese28]

Retire at 65? If I could retire at 70, I would consider it to be a success.

[@tonylevine2716]

Why?

[@bobbullethalf]

You must work yourself literally to death on the job like that lady in her cubicle that sat there for four days and no one noticed. The hell with that!

[@TNFVLOGS]

Moving out the country is my plan its cheaper so my money will last longer

[@masterchinese28]

Belize? Costa Rica? Thailand?

[@TNFVLOGS]

​@masterchinese28 thailand , phillipines, DR, Costa Rica is my choices so far

[@masterchinese28]

@@TNFVLOGS I hadn't considered DR, but I will look into it. If you go to the Phils, we might run across each other one day! (I have family and property there). Cheers.

[@tikilanichols8023]

Same here...wife and I are both combat veterans... moving abroad 😢

[@natashatomlinson4548]

This is your country on Republicans. This is a direct result of electing Reagan in 1980.

[@markmurrell1894]

Big part of that is because people don’t save for retirement like they should. It’s their own fault. Sign up for car payments and then wonder why you’re broke.

[@jbmoney357]

I have to drive to work 5 days a week. There's no public transportation where I live. What's YOUR brilliant suggestion?

[@markmurrell1894]

@@jbmoney357 pay cash for your car. Really not hard just takes some sacrifice and letting yourself say no to the latest tech they shove into cars. You do this enough, you’ll have some money saved to buy a 30k car in cash. Ask me how I know. Took my wife and I 5 years to get to that. Learn to pay yourself a car payment every month.

[@tmo7734]

The discussion did not reflect the title of this video. It’s wonderful if those who are 65 still want to work, however, the issue is many seniors must work. This discussion did not spend enough time on that part of the topic.

[@HungerSTR1KE]

My financial advisor said 1 in 3 Americans dies before age 65, and that's making it REALLY hard to convince anyone to save for retirement. Everyone thinks they will die young.

[@FoOtFoOt542]

It’s the ultimate gamble

[@cameroncunningham204]

That literally cannot be truth mathematically if it were our population would be far less than the 330 million and we would have more younger people than older people in fact the older end of the population period will be the largest cohort in the nation in a decade Your financial advisor must’ve been asleep during statistics class

[@mr-jon]

sounds like you need a financial advisor that is better at numbers 😂

[@HughJass-313]

​@@mr-jon How so? Average lifespan is 78 in the u.s. His advisor said "1 in 3" kick the bucket Earlier. *BOTH* statements can be true❤❤

[@mr-jon]

@@HughJass-313 even if taken at face value, 1 in 3 people dying means that most people still will live to 65. people should also be taking into consideration that their current age significantly impacts their odds of living to 65 too. e.g. for a 30 year old person there is only a 14% chance that you won't live to 65

[@workmenstudioinc1880]

Because jobs nowadays are so unstable, many of us are working longer than ever. It's difficult to find a job that lasts more than a few months, unlike our parents' generation. This is the new reality for many workers today. The recent wave of mass layoffs, coupled with soaring inflation rates, has made it nearly impossible for many people to maintain a stable financial situation. As a result, many are feeling the pressure to work longer or delay retirement just to survive.

[@Zero11_ss]

I cant even get a job forget retiring. I was ahead on savings vs others my age and spent my 20s paying off all debt, now even my irresponsible friends with good jobs are way ahead just from having a good job.

[@Earl_Richter]

Wondering if that $66k that most Americans supposedly have saved means it's what we have in our 401Ks and not our actual bank accounts.

[@ChiRusNkFUSA]

We don’t need Nikki Haley to raise the retirement age. Because the inflation will do it for you.

[@camd6102]

Remove the wage base limitation on annual earned income and apply the FICA tax to all earned income. That way, high income earners pay the same flat rate as everyone else. Use the wage base as a margin above which all Schedule D net income is FICA taxed. That includes carried interest.

[@Yobinski4900]

I’m retiring at 64, just to balance things out a bit. 🎉

[@dg8676]

You mean the gov won’t let us retire with all the taxes we pay

[@TommyWrenn]

Nope, I’ll be retiring at 54.

[@TommyTomTompkins]

Mr McDonald's is going to mad if you don't show up for work

[@TommyWrenn]

@@TommyTomTompkins I own a startup company tool bag.

[@TommyTomTompkins]

@@TommyWrenn start-up early in the morning and work at McDonald's nice. 🙂

[@dantheman6607]

Congrats on your early retirement!! I’m right there with you.

[@mhermit]

I'm 54 & was able to retire last September. Welcome, friend!

[@sierravista9013]

Some of us have to work longer because Social Security has raised the full retirement age, so you have to work longer to get your full benefits. Its not some happy thing to stay working

[@alanj9978]

Social Security is easy to fix, just drop the income cap. Medicare, not so much.

[@manoftomorrow5987]

Well I do plan to work past 65…but not because I have to, but because I want to. As a consultant in my industry, a teacher and a mentor.