Not a very good average 401k balance of 178k and a yearly income of $7100 . No wonder they want to save SS. If the markets go back to fair value they can kiss their 401k goodbye. I read that 78% of Americans are living pay check to pay check. Also 59% of those don't even save more than $100 month.
RE: A MUST read regarding Baby Boomers and Social Security.
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A MUST read regarding Baby Boomers and Social Security.
You said, "No wonder they want to save SS." I agree. I just addressed this in my livestream:
Lots of folks offended. Sad.
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you could say that the homeless beggar I pass on the way to work is an entrepeneur
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Im the last of the boomers. Not sure why they are offended. SS is not a retirement plan. Any person can create their own wealth. The one thing most people lack is self discipline. The pensions are so underfunded that one day they will crash. We need to be responsible for our own financial destiny.
Spend less than you make, and work towards passive income.
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