No Retirement in Sight?

[@tomj528]

"There was never any money for retirement savings"...as she sits in front of a hutch loaded with collectible plastic cars. I love cars but don't have a single one of those...instead I have retirement savings.

[@link2442]

Those toys won't be enough to help her on her retirement

[@TheCoolcatcleo]

@@link2442 maybe not now. But if she invested that money 40 years ago...

[@bruced.370]

It's the point....can afford junk but not retirement savings???

[@tomj528]

@@bruced.370 My favorite part was the not thinking about retirement planning until their 60's. I started in my early 20's when it's easy to begin.

[@KathleenMcNe]

I established IRA and non-IRA accounts in my 20s, contributing to them regularly. I'm now 66, have no debt, and am financially secure and living comfortably. It can be done, but one has to start early and make sacrifices.

[@Janet_scribbles]

I must have done something right. My kids who are in 30’s are already putting away money for retirement.

[@wildboysmama]

Sell everything and live in a modest apartment

[@tiffanyhall1944]

Rebeca Lee tiny home, expanded shed, rv

[@leschurchill804]

As a former co-worker of mine used to say, Failure to Plan, results in Planning to Fail. It works every time. Ms. L. Churchill

[@stevengreen7100]

In order to save for retirement you have to be prepared to do without now.

[@rogerfreeberg4661]

You just said the most important advise for young people that could ever be said , unfortunately no one wants to listen to your advise. I did and retired at 55 and am a multi-millionaire because I saved and invested the money while most of my friends were living the good life , or so they thought. This doesn't mean that I lived like a pauper but I saved and invested the money rather than blow it. I am so happy that I did . I have everything that I want. Very comfortable ,...............I am married, only once and have 2 daughters,2 grandkids give them a nice allowance every month...................

[@pascalxavier3367]

@@rogerfreeberg4661 You can't become a multi-millionaire when you have a low-wage job, even if you save.

[@IndianOutlaw1870]

She never learned about "pay yourself first." :(

[@thetreekeeper143]

What a great retirement plan this woman has.....just simply not thinking about it! Why didn't I think of that.

[@boogiemcsploogie]

The luckiest generation in human history...and possibly the most short-sighted.

[@markwhittaker6866]

🤣🤣🤣🤣🤣

[@TheCamberwell]

Boomers were given the most lucrative economy in history and blew it in a single generation.

[@cathybrown7559]

I am 65 years old. I started working at 16. When I got married and had kids the husband was suppose to take care of me. Alas, husband went to his girlfriend and I got a job. The first thing I did was enroll in a 401 K after many jobs I just always rolled over my 401K. I can’t retire yet but ..... I have always lived like a poor person. When I was a single parent to 2 sons for their birthday I would take them to McDonald’s so they could play on the indoor stuff. That was a big night for us. My parents drilled into me save. Always save, never stop saving. In 2018 I hope I can retire at 66, but I only have several thousand dollars. It is all a mind set. Save...buy shoes...save...buy junk...save...buy a new car...save...buy crap. Save.

[@rwg4397]

I don't know what kind of 401k you have but you may want to look at possibly opt out for alternative savings accounts. I'm not saying your investment is bad! Just saying that most 401k are not really the ideal retirement vehicles

[@4chukwuebuka]

Cathy Brown so, did you retire?

[@warrenpeece1726]

"It never happened. Life gets in the way." If you don't save and have no savings when you want to retire, then don't complain!

[@cherylT321]

Warren Peece. Even now, she has her head in the sand! Sad to say, she and her husband will probably end up homeless!

[@lothean2099]

Save till it hurts, then save more. That way you can have a comfortable retirement. A you tuber said these words and these words hit home.

[@michaelbelt8768]

I just turned 62 and now newly retired. I get a military pension and will soon receive S/S each month. However I had adopted a plan (10 years ago ) of 25% of my net income would be for my housing, 10% would be for my transportation the remaining 35% are my savings and other options. The biggest unplanned expense are the medical ones. But being retired with 20 years of service, it's kept lower in general. The problem that people have is, they don't realize that not having a plan is really planning to fail. I'll never be rich but I'll never be broke either. The last but MOST important part , is prevent blackmail from a former spouse.

[@mariorta5017]

I wish I could say, I feel sorry for her situation, but I don't. She decided that way. Perfect example for new generations.

[@casper-z9rkls6gl]

Everyone just lives for the moment and assumes that Social Security/pension fund will see them through retirement.

[@markwhittaker6866]

I don't know why.

[@bruced.370]

@@markwhittaker6866 it usually is enough if you look at expenses and reduce that where you can. You really only need a little more than your expense.....

[@debbieframpton3857]

I don't know I quit working full-time 2 years ago then went part-time for one year and I haven't worked since May of 2020 with no mortgage or car payment I am able to live on just Social Security no pension from previous job but I do have a small 401k and Roth IRA and about a year-and-a-half income in savings out of my 1069 social security check I am able to save 200 each month.

[@debbieframpton3857]

Did she not work during her entire marriage? There's always a way to save you just have to make it top priority over buying more stuff. I still save every month and I'm just living on Social Security and no pension and have been single for 20 years

[@jacobrocks7]

Hope they own their home. If so, they can sell and rent. Be frugal and they should be fine.

[@geoffdearth8575]

"Saving for one's retirement" seems to me to be a recent idea. I'm 65 (just retired) and I don't remember all this harping on retirement until relatively recently. I believe it's because there used to be more pensions.

[@BrittMFH]

Geoff Dearth I'm hitting 60 and living frugally and saving have been grilled into me since I can remember.

[@AuroraBoarder1]

Geoff Dearth - I knew a woman who was eligible for a large pension, so even though she earned a huge paycheck, she never saved a dime. She was still working at age 70. She demanded a raise, and was fired. As a result, she lost her pension. She sued, and they settled out of court for a year's salary. Even if companies still offered pensions, it would be foolish to rely strictly on them.

[@ariefraiser140]

@@AuroraBoarder1 here in the U.S. there were more than a few companies that went bankrupted and either wiped out people's pensions or came out of bankruptcy with their pension. Obligations slashed 70%. The only one you can depend on to bankroll your retirement really is yourself. Save until it hurts and then save some more. Stop buying so much crap. Save some more.

[@helenaville5939]

Here in Europe life is very different for older people. I live in Ireland and at 66 everyone is automatically entitled to the State Pension which is currently 238 Euros a week (357 Canadian Dollars). Other automatic benefits at 66 include subsidised electricity/gas (47 dollars a month), subsidised phone (10 dollars a month), totally free healthcare including free prescriptions/medications + hospital stays + optician/spectacles + dentist/dentures - everything that's health-related is covered by the State. Other freebies include winter fuel grant (1,049 dollars paid over 6 months Oct-April), double pension payment at Christmas, and some others I can't recall. No-one over 66 works due to necessity. However there are some (like my father) who like to work part-time in retirement and they are allowed earn up to 225 dollars a week without being taxed and without losing any of their State pension. Anything they earn over this amount is taxed. Even when the financial crash happened in 2008 and many austerity measures had to be implemented by the government, it was decided that the only change for people over 66 was that they would lose their double payment at Christmas until the country's finances improved. This has since been reinstated. It is very strange reading the experiences of elderly people in Canada and the US. We always assumed these countries were richer and more comfortable and even luxurious for their citizens. It's heart-breaking to watch some of these videos. I can't help wonder if senior citizens in Canada and the US organise themselves into lobbying groups. Here in Ireland the country's strongest lobbying group by far is the Senior Citizens' Parliament.... run by the senior citizens themselves They are very vocal and very disruptive if their State benefits are ever threatened in any way. They are also the population's social group that is most likely to vote in elections, so politicians fear them as they tend to vote en-masse and this often sways the outcome of elections.

[@Guitar157]

I get a union pension when I retire but I have my own Roth IRA I put money in it every month the way I see it nothing is guaranteed in life always have a back up plan you never know

[@Luis-xr6ec]

Use a credit card for an emergency? No! That’s why you have an emergency savings fund for.

[@joanfield234]

I am 83 yrs old...have towork...trying to get a reverse mortgage....but no good credit...(which is why I need one..) I've worked since age 17

[@bruced.370]

And saved nothing? 60 yrs of saving and you should be multimillionaire!

[@evelynpelkey1393]

I would love to see how they are doing today. 🙏

[@mrbill21]

Many are assuming much on those collectables on her shelf, anyone ever consider it was passed on from a Father passing? Or, perhaps she had started collecting years ago and now receives them as gifts for Xmas from Family? Walk a mile folks…

[@ddellwo]

Geez Lady - denial much....???

[@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 have no debt and am financially secure and living comfortably. It can be done. But one has to start early and make sacrifices.

[@MegaBuyer]

Consider Mexico or Thailand or something. I understand that you can live comfortably on social security (I assume Canada has a similar - probably better - program).

[@Iamthenextmultimillionaire4400]

They can’t get their pension if they live outside Canada.

[@minoozolala]

@@Iamthenextmultimillionaire4400 Yes you can.

[@acajudi100]

Live in a cheaper state or country. I retired at age 58-61, and returned to a different career at 61.4-69,7.SS and 4 pensions, that i supported family and non beggars all my life. I smell the stench of scammers

[@tiffanyhall1944]

I don’t think she was ever employed.

[@jorgeaparicio3965]

Most of us fail to plan. Saving is planning for a rainy day. I have a small pension to enjoy the rest of my life. Working part time to have extra money. Considering working at Stater Bros. or Ralph's just to get a 2nd pension....

[@joycegonzales4994]

I’d sell half that collections in the house and save that

[@dinofalcone6645]

Not one word on investing at school,were taught to fail

[@Iamthenextmultimillionaire4400]

Save for a year worth of emergency fund so you don’t use credit cards or take out loans.

[@pixie8653]

They didn't have pensions in the old days. My grandparents had a retirement plan--live frugally their entire lives and save money! They stashed cash in a little safe, just in case there was "another run on the bank." They got very little Social Security. They bought a little old fixer upper and fixed it up--in the country. And drove a beater car to work 13 miles away. And had a garden... You get the point. They never counted on anyone to take care of them. Never. And after the 3 kids, Gram quit her job and they lived on his wages that were minimum wage in a factory. For more than forty years. And NO PENSION!

[@millerforester3184]

I had a 40-something cousin tell me "what's the use, government will get it all anyway". Had a real point, there. But I knew he was just making an excuse. Whether it is my own family, or strangers on the dole, I have no sympathy. Seniors DO vote, and they vote their pocketbook.

[@nosiphosobekwa9316]

Retirement is outdated. In UK retirement in Government is 67 now, but nobody is forced to leave, if he/ she can still work. I believe in the private sector in general, there is no strict retirement especially if one owns the business. The business still need experience and expertise. Skilled elders remain in the job until they feel they can’t. This is a good idea instead of government pension that does not serve the purpose because of exorbitant tax. South Africa must benchmark the trends in the world. Nobody must be forced to retire. That is discriminatory. But young people must be prioritised. Encoring jobs must be created for elders in government.

[@ClearOutSamskaras]

Wow! I see this over and over again in these specials about people with low income and low savings or no savings: THEY OFTEN HAVE PETS! I have never felt that I can afford the expense of a pet. I like dogs but I will never own one, not at my income level. It amazes me that others take on such expenses even though they have less than adequate money.

[@WhatsUpWithSheila]

Well... Worst comes to worst... I guess they can sell the house (they do own the house don't they?) and all the crap in it.. at this point I do not believe they can afford a small modest apartment for retirement... I think they need to buy a used camper (NOT travel trailer) and park it somewhere And hopefully they'll have enough money to last them another 10 years

[@CrazyClips876]

So in another words they are ASSED OUT!

[@peggyghirardello275]

When u r young raising kids u r going so fast pace u r living ad th e n all sudden u r old we r seniors now we get by didn't save retirement hubby retired fifty eight early he's been retired little over six years now we pay, all bills we can eat out we took vacation last year thanks to our son daughter law but we r still lot better off lot other seniors we have health insurance roof over our head there r seniors working seventies older many live with family members have o food banks

[@joanfield234]

life is life....make lemonade...I did ...and wow did I have a wonderful soulmate...(made all the difference)

[@siuabc]

Reality.... :(

[@wolfpackflt670]

Your old self needs your young selfs money.

[@jeffreyrichardson]

Jody and Michael enjoy this cycle...

[@jenny-sue7174]

Are we supposed to feel sorry for this lady and people like her who never plan for the future?

[@benden5095]

Hell no, they wasted their time and resources. No sympathy here.

[@tomsimpson5317]

Cant save when you don't make enough

[@VoxBox1]

This is just another shaming video, ignoring systemic economic slavery.

[@randipool]

this was kinda helpful.

[@ktkearns4744]

I would love a follow-up

[@MusicloverX88]

Treat your credit card like cash.

[@angieharris8015]

I wonder if she's still alive 😔

[@EarlGuyton425]

Unexpectable. Any american should be able to retire at age 62 or 65 regardless if they have savings or not. If any american worked for at least 10 full years at any regular' job they would have no problem at all, because they would receive full benefits. Even if they have a house they would still be fine because anyone that financed any house should have done so at an early enough time to where it would be payed off before they were age 65. So it means they screwed around and partied and smoked pot and wasted their youth. It has NOTHING to do with savings. You take that man working at 65 in the video. Guess what? He never worked for a full 10 years in his life, so he had to be a major dead beat

[@s1234pro]

What on Earth are they buying with credit cards? I'm sure they're a lovely couple, but they seem to be behaving like 20 year olds. She could get a part time retail job, babysitting job, house sitting job, dog walking job, etc. Also, why do they have pets?!!

[@jarred333Boss]

yooooo wow

[@DMBall]

Glad to see she's not starving. About 40 lbs. overweight is my guess.

[@lorrainea.285]

😂😂😆

[@amazinglats6020]

I've been saving about 80% of what I make a year for about 3 years, and it's not very much only around 40k I really wish I could've started saving earlier though, but im only 22. imagine working at 10 years old and saving 80% of what you make and having like 300 grand by the time you're 20 lol. You could technically retire at 20 because the stock market would make a higher return then you would be spending to live as long as you don't spend a lot of money.

[@kasession]

You're still ahead of the game. Keep saving, stay out of debt. Educate yourself. If you can do basic math (add,subtract, multiply,divide) you can manage your own money. BTW...Doing all that doesn't mean you can't have fun as well. You just plan for it.

[@harambetidepod1451]

boomers