HOUSTON, March 12, 2024--More than half (54%) of Americans say it’s their goal to live to 100, according to a new study from Corebridge Financial and The Longevity Project. Family, friends and new experiences are seen as the top benefits of a very long life, with 72% of respondents citing continued meaningful relationships with family and friends and 65% looking for more time to explore and have new experiences.
If you invest 5% of every paycheck, you will have enough to retire on. This is quite achievable for the vast majority of individuals who want to achieve it. Compounding gains are a huge boon and is why investing in something like an index fund should be started as early as possible.
Nearly 70% of Americans are currently living paycheck to paycheck. How are they supposed to save up or invest? One medical emergency could wipe out all that imaginary savings too.
I know that on-average, those things tend to appreciate, but also yes, if it’s all tied up in stonks you’re still just one 2008 from “Oops, lost it all!”
Why is gambling the only way to secure a decent future? I even made a decent chunk of money during the last crypto peak when it was fun new tech and just before it seemed so supremely evil, but I cashed out and ran never to look back. The stress is insane, the concept is insane. I wouldn’t do it again. I got lucky and that’s it.
Meanwhile my family made all kinds of good retirement investments and practically lost it all when we had to let the house go back to the bank when 2008 hit.
There is a reason I mentioned index funds, they don’t just ‘oops’ away as they are highly diversified. For example, the most commonly cited index is the S&P 500, which is up over 250% since 2007. The 2008 crisis didn’t just oops everything. Investing for retirement is all about the long term trends, and those trends are very in your favor if you are holding index funds over the long haul.
That’s now how it works over decades. Coca Cola Company didn’t magically lose a shitload of value in 2008, even if their stock was down. Sit tight and don’t even look at your funds. IGNORE THEM.
If anything, 2008 was a great time to pour it on with investments. Let the gamblers and stock market fiends try to chisel a few bucks. Sit. Tight.
That’s not correct, the median savings account is $8000
https://www.federalreserve.gov/econres/scfindex.htm
You’re not living paycheck to paycheck if you have $8000 saved, even if you spend your entire paycheck
https://www.cbsnews.com/news/paycheck-to-paycheck-6-in-10-americans-lendingclub/
Yeah, so that’s not 70%
Hmm yes living below the poverty line does indeed leave me with enough money to invest in a retirement for sure uh huh yupperino
Cries into wage garnishment papers from not being able to afford private student loan payments
11.5% are living in poverty
https://www.census.gov/library/publications/2023/demo/p60-280.html
Neat statistic. My dick is 2 inches at its hardest, since we are tossing stats with no context around.
That’s not a statistic, that’s an anecdote, just like people in poverty complaining about financial advice
My dick is now 1 inch, thanks a lot
5% seems achievable, looking from the outside, but we’ve gone through several decades of proving that it does not actually happen enough., when people are trying to afford their immediate lives