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1. Embed this notice
   Mark :verified: (mhjohnson@noagendasocial.com)'s status on Friday, 08-Dec-2023 11:12:50 JST Mark :verified:

   Only 2% have saved at least $1M for retirement
   https://www.newtraderu.com/2023/12/07/only-2-of-people-have-hit-this-money-goal-why-it-matters/
   I'm in that group - mainly because I had a great salary & saved for years. I don't spend a lot (yet) in retirement so it will continue to go up a while.

   BUT - if you are in your 20s - don't believe the claim in this story that saving $210 a month is enough for your retirement. You will need $5-10M to be the equivalent in the 2060s. I would start at $100 a week or so if you can make it happen.

   • Sir Funk ?? repeated this.
   • Embed this notice
     Sir Funk ?? (sophistifunk@noagendasocial.com)'s status on Friday, 08-Dec-2023 11:12:49 JST Sir Funk ??

     in reply to

     @mhjohnson big brother takes (beyond taxes) 9-10% of my income at gunpoint *my whole life* and gives it to banks to manage "for my retirement". It won't be anywhere close to 1M when my widow is old enough to retire.

   • Embed this notice
     Trav (tot3mcarv3r@noagendasocial.com)'s status on Friday, 08-Dec-2023 11:13:01 JST Trav

     in reply to

     @mhjohnson know who doesn't have to save for retirement? amish

   • Embed this notice
     Dirty Tree (malarkey33@noagendasocial.com)'s status on Friday, 08-Dec-2023 11:15:57 JST Dirty Tree

     in reply to

     • Sir Funk ??

     @Sophistifunk @mhjohnson I’m sure it’s invested in high growth mutual funds covering world class compan…. Aaaaaand it’s being borrowed against to pay for migrants!

   • Embed this notice
     Sir Funk ?? (sophistifunk@noagendasocial.com)'s status on Friday, 08-Dec-2023 11:19:26 JST Sir Funk ??

     in reply to

     • Dirty Tree

     @Malarkey33 @mhjohnson given that gen-x are the last cohort for whom competence was a selecting factor, society is going to do all it can to keep us at the office, so expect legal retirement age to start creeping up *very* soon anyway.

     And here's the thing: when the government forces you to "save for retirement" they set the rules for when you can access it, so they determine when you can stop working (hint: never)