Was reading this and stumbled across this fact.
Percentage of Americans near retirement with less than $30,000 in their retirement accounts: 75
Crap, I had no idea it was that bad. I don’t know what they are including in “retirement accounts” here nor do I feel like researching it, but that sounds about right to me. Hard to save money if you don’t make enough to save any.
Also, I didn’t realize I had strayed out of the middle class salary range until I looked at those facts, but one sure sign you probably have is I don’t really know how much I make in a year or my hourly-equivalent rate. I’d have to find a pay stub (which I also really never look at) or ask HR to look it up for me.
And for all that, we still could not afford to buy a house in NYC, Seattle, San Francisco or most other major urban areas.
But 75 percent of people with less than $30,000 to retire on? That is not sustainable, not in any way. That is a disaster waiting to happen, and actually happening for that matter.