Majority of Americans turning 65 not financially prepared to retire, study finds
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- Опубліковано 7 тра 2024
- This year, a record number of Americans are expected to retire, but a new study reveals that a majority of Americans turning 65 in the coming years are not financially prepared for retirement. CBS News business analyst Jill Schlesinger explains.
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I don't know anyone able to retire even at 70.
Social security is not going broke but it's not going to be enough to retire because the cost of living will continue to rise.
And because when offered tax cuts or improved funding for Social Security and Medicare the Boomers consistently chose tax cuts.
@Matt-fl8uy Amen. 2-1 doesn’t equal 6.
Social security was never supposed to be your retirement. It is one piece of it. Without savings and investment you probably won't be able to retire and this has been known for a very long time.
I wasn't "financially prepared" to retire yet I'm pretty happy, more contented in my 60s than I was raising kids and having a demanding career in my 30s. It's not that hard to make do with less money. I sometimes think people get too caught up with appearing to be prosperous without taking the time to enjoy what they do have.
Take it early while you can.
i thought they were the responsible generation??????????????????????????
People with millions in assetts shouldn't get social security. My parents have $2m in a 401k, pensions totalling $7,000/month, Free healthcare through Massachussetts state govt police pension, They live in Florida with no state income tax. And they get social security. They take in a bout 10k a month and have been retired since 55 for 11 years now.
The second they means test social security is the second I won’t pay another dime into it. Those who work harder and earn more should always have more then those who can’t or won’t. We only get one life. Your parents should enjoy the millions they earned by being worth much to this world by vacationing or buying themselves luxuries-or maybe they can donate to animal rescues.
They also paid to SS.
Life expectation is going down unfortunately
Social security isn’t going away, but it’s on track to not be able to pay its full obligations in the late 2030’s. That’s a big deal.
Social security was never meant to be a sole means of retirement. FDR's administration created the 30 year mortgage so your expense was paid for before age 65. Reagan changed the mortgage laws and now people use their homes for 2nd and 3rd morgages.
We lost over 1 million people due to COVID-19. Were is the money 😅
My husband and I are both 64. We both are still working. We had a pretty good savings and the pandemic hit. Since then we both feel we will have to work at least 10 more years.
How did the pandemic affect you?
Adulthood begins at 21. Your life choices and decisions between 21 and 65 reflect exactly where you will find yourself in retirement. It’s amazing that even as seasoned adults, some will use any excuse to expect taxpayers to comfortably financially support them. Life will never work that way. If you didn’t provide adequate support for yourself during your adulthood, don’t expect others to adequately support you in your senior years.
Please know there are state and/or federal restrictions on how much “extra” money you’re permitted to make in retirement.
Bruh, what is going on with that shirt?
Inflation takes a huge chunk of.
That one woman with the typical line, "Max out your 401K and your IRA" _ I mean DUH, but unless you're a news anchor or something similar, it's awfully hard to do that, esp if you have kids to raise and pay for college, etc. I HATE when wealthy people talk about maxing out like it's so simple and so obvious. People KNOW THAT -- they just have to afford living, too.
If he just took the money he spent on those haircut and bought NVDA, he could have bought an exotic car at retirement.
Retire in Mexico
Don’t worry all the people still working will pay their way.
ss is not a retirement
SS will be bankrupt when I retire
Lol 100
American Capitalism is the cause ...Socialism is the cure!!
Move Putin will give you a potato on your way to the front 😅
Crony capitalism is the problem.
@@Alpharizzchad Medicare is socialized healthcare.
What’s wrong with taxing rich people and what’s wrong with breaking up companies that are too big? When was the last big anti-trust lawsuit
@@Matt-fl8uy ok get rid of the cops, schools, hospitals, parls, road because Socialism..