02-08-2022, 06:09 AM
Just read an article today and supposedly 50% of boomers have next to no investment savings. Net worth under $200K, and a SS pension. Only about 1/3rd have employer pensions. Scary stuff.
Any time I read something like that the spread between median and mean numbers are really bad. And if you have reasonable income, so unnecessary these days. A lot of tools out there. A lot of folks make different choices than planning for retirement during their working years.
There are people who had a devastating life event they couldn't get past, particularly medical with poor health insurance. I give those folks a pass. But for those with a decent middle-class income and no extreme events? No reason for it. Well, there's always a REASON; they tend not to be good ones.
Any time I read something like that the spread between median and mean numbers are really bad. And if you have reasonable income, so unnecessary these days. A lot of tools out there. A lot of folks make different choices than planning for retirement during their working years.
There are people who had a devastating life event they couldn't get past, particularly medical with poor health insurance. I give those folks a pass. But for those with a decent middle-class income and no extreme events? No reason for it. Well, there's always a REASON; they tend not to be good ones.