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submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

About one-quarter of U.S. adults age 50 and older who are not yet retired say they expect to never retire and 70% are concerned about prices rising faster than their income, an AARP survey finds.

About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how a graying America is worrying more and more about how to make ends meet even as economists and policymakers say the U.S. economy has all but achieved a soft landing after two years of record inflation. 

Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.

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[-] joneskind@lemmy.world 3 points 7 months ago
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[-] Sam_Bass@lemmy.world 1 points 7 months ago

We all be on that cruise

[-] RBWells@lemmy.world 1 points 7 months ago

Yeah, I took some years off to raise my kids, went to college while they were little, and overall I think it paid off but not to the point I plan to retire on purpose. Always saved what I could because employer matched, but some years that was $50 a month. Now finally at mid 50s with a husband who actually works (but had the same trajectory as a functionally single parent then actually single parent). We are sorta raking it in now but paying off the past still.

It's not a terrible feeling, honestly, if doing again I might actually have chosen more years on the front end with the little kids, rather than time off when old. When I'm old, why not work? I have more time each year as some of the kids move out, once they are all grown maybe I will have enough time to work without feeling so rushed.

Of course the problem with this is that most people don't choose to retire, it's forced on them. Even as a clear minded fit and in shape 50 something I am one medical event or layoff away from "retirement", right? That is what sucks.

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this post was submitted on 26 Apr 2024
399 points (98.3% liked)

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