No one can afford to retire and the squeeze will just get worse with inflation. You’ll just work till you die and be happy.
https://finance.yahoo.com/news/average-401-k-balance-age-130059880.html
Discussion
Scary and also very sad
I've been thinking that is the plan of the parasite class in the US for a while. They'll enjoy a life of lesure, everyone else will work until they die.
A year or so ago Powell made a comment about getting older people back in the work force.
I think about this every time I see a 70 year old working at Walmart or McDonald’s. I’m sure they have worked their entire lives and will continue to. These are the people who need bitcoin.
Pensions were dumped in exchange for 401k. The companies saved money and saw their stock price bloated by people’s life savings held hostage to the whims of the stock market
I don’t even pay into retirement because I don’t trust it. Bitcoin is my retirement.
At 53, this is now my plan too… been DCAing into BTC the last year. Also bought 31 acres and built a new and efficient house on it and used my 401k funds to do so last year. Pigs, cows and chickens and planning to keep driving a semi until it’s paid off, hopefully in the next year or two.
We are looking for some acreage too. Right now we only have 1 acre, and that’s not enough for our 50+ chickens
The failures of 401k plan performance has been a bell tolled repeatedly over the last couple decades.
Yes, it will get worse, but in part, because people have up the responsibility to manage their own retirement savings.
*have given up
Of course they followed up with this banger after they showed the average 65 year old only has $250k saved. Can you retire on $5M? Their answer is maybe if you cut your expenses.
Now how much in sats we actually need 😅
