Americans struggling to afford retirement | Morning in America

Sdílet
Vložit
  • čas přidán 17. 05. 2024
  • Many retirement-aged Americans either don’t have enough money saved or they’re using their accounts like an ATM and withdrawing funds earlier than planned. NewsNation spoke with Shari Evans Buford, a woman who retired in Florida. She and her husband both worked until retirement and Evans Buford has a 401K as well as Social Security. But life happened and she said her savings disappeared before her eyes.
    #Money #Retirement
    Start your day with "Morning in America," NewsNation's live three-hour national weekend morning newscast hosted by Hena Doba. Saturday and Sunday starting at 7a/6C. #MorningInAmerica
    NewsNation is your source for fact-based, unbiased news for all America.
    More from NewsNation: www.newsnationnow.com/
    Get our app: trib.al/TBXgYpp
    Find us on cable: trib.al/YDOpGyG
    How to watch on TV or streaming: trib.al/Vu0Ikij

Komentáře • 354

  • @shAnn0n1
    @shAnn0n1 Před 29 dny +96

    "RETIREMENT"?...I can't afford my monthly bills, let alone prepare for retirement.

    • @gravity-zero2917
      @gravity-zero2917 Před 29 dny +9

      I'm 40 with $2100 saved in 401k SMH. Dang I screwed myself.

    • @jaimel8219
      @jaimel8219 Před 29 dny +16

      @@gravity-zero2917 keep saving. You still have 20+ yr of compound interest ahead of you.

    • @twashington9983
      @twashington9983 Před 29 dny

      @@gravity-zero2917 You're by no means screwed! Like the other person said, you still have 20+ years of compounding. Just make damn sure you get started TODAY! Contribute to your 401K up to the company match...don't miss that free money! And don't let your 401K be your only retirement vehicle. Invest in individual stocks and ETFs. There are so many companies that will make your money grow 10 times faster than your 401k! Get in there and fight! God be with you!!!

    • @SpicyKimchi-
      @SpicyKimchi- Před 28 dny +11

      @@gravity-zero2917 better late than never, 20 years can flip the picture

    • @andrerodriguez7603
      @andrerodriguez7603 Před 28 dny +4

      I was in the same boat with only 15K in my IRA at the age 55 and living paycheck to paycheck. I got a job with a 401K plan and did the max on it. I planned to work at least 10 more years. I was laid off in 9 years. Now I have 120K in total retirement savings at 64 years of age. Still nothing to retire on. I rolled over that 401K money into my IRA. Picked a good company that had allot of future growth and potential in the stock market, I invested all my retirement money into the company ($120K). In 3 years I am comfortable enough to have a nice retirement to not worry about anything. So it’s possible for anyone to achieve this. Just takes a little time to learn how to invest in the stock market. But it is all a gamble. If you are younger, invest in a S&P 500 index fund in a Roth IRA.

  • @BTrain-is8ch
    @BTrain-is8ch Před 29 dny +48

    The true shame is the number of Americans that think social security is supposed to be their retirement plan, spend four decades working and behaving as though it's taken care of for them, and are going to have to learn the hard way that it isn't. A close second is the number of politicians reinforcing that misconception.

    • @jjones3566
      @jjones3566 Před 28 dny +9

      Social security SHOULD sustain people in their later years. But, no, we are too busy sending all of our money to other countries and giving it to the rich here in the United States.

    • @BTrain-is8ch
      @BTrain-is8ch Před 28 dny

      ​@@jjones3566 Which politician told you that?

    • @g.t.richardson6311
      @g.t.richardson6311 Před 28 dny +5

      @@jjones3566 it was never meant to be your only income in retirement, never. If I remember the 3 leg stool analogy, previously, Pension, SS, your own savings/cds. Then, 401k, SS, your savings/investments.
      Now you can add to that, Roths, HSAs, etc.
      Sending to foreign countries I agree. The giving it “to the rich” is a nonsense baloney talking point of MSNBC and the view types, and Biden, who is part of “the rich”

    • @jjones3566
      @jjones3566 Před 28 dny +5

      @@g.t.richardson6311 I never watch MSNBC. I don't care if it was meant to be onlt part of retirement. The United States is a very expensive place to live and if we have the money to spend on foreign wars, faoreign aide, immigrants, corporate welfre, ect., we have the money to give more to our poor elderly.

    • @pep590
      @pep590 Před 28 dny +1

      @@g.t.richardson6311 You are so right that SS was never intended for your only income as the average SS payment is around $1650 or so for a 65 year old. They are way off on that $1907 figure. You got to have some kind of supplement with it. I have an IRA and military retirement myself. It wasn't until that I was well into my 40's, before I worked at a company in the late 90's who finally offered a 401k. Wish I had an extra 20 years for saving like the young folks do now, but good for them.

  • @cc8751
    @cc8751 Před 29 dny +82

    Inflation kills retirement

    • @Ravi-rl8tt
      @Ravi-rl8tt Před 29 dny +5

      No. Lack of financial literacy kills retirement. Get some real estate properties.

    • @PraveenSriram
      @PraveenSriram Před 29 dny +10

      Inflation and the rising cost of living is definitely a killer

    • @scottankers6690
      @scottankers6690 Před 29 dny +11

      Wrong. Not properly investing over your ENTIRE career kills retirement.

    • @Chad_Max
      @Chad_Max Před 29 dny +7

      It erodes wealth whether for retirement or not…

    • @SpicyKimchi-
      @SpicyKimchi- Před 28 dny +5

      Bad financial planning and management is the root of all. That’s on each individual to own as much as people love to shift blame on the economy, president, corporate, taxes, someone’s mama.

  • @Janjust1617
    @Janjust1617 Před 29 dny +36

    SS is NOT enough period. We truly need to save for our future.

    • @douglassmith9445
      @douglassmith9445 Před 28 dny

      The term social security really needs to stop. That money needs to go towards our national deficit instead of being used up by boomers who then won’t allow future generations to have any left.

    • @daveb2280
      @daveb2280 Před 28 dny

      @@douglassmith9445 Boomers worked for companies that had a defined pension plan. Thanks to Congress, laws were passed that allowed companies to rob the pension funds and then declare bankruptcy. Then along came 401K plans that forced employees to fund their own retirement. For Boomers, it was too little too late as it was impossible to catch up for all those missed years. No one with a brain believes social security will be around much longer.

    • @Barbara-jn2gw
      @Barbara-jn2gw Před 27 dny

      douglassmith yes, that makes a lot of sense. End social security, that people have paid into all of their working lives, at no choice of theirs. Put that money towards the deficit that trump, et al added 4.7 trillion to, that went to the top 3 %. riiiighhhttttt

    • @matthewm9261
      @matthewm9261 Před 26 dny

      Save in currency that is devalued every year. It's all a scam

  • @franklin9400
    @franklin9400 Před 29 dny +85

    Imagine saving your whole life. Every year you save. They devalue the currency you saved. It's a scam. Our whole economy is.

    • @Royale_with_Cheeese
      @Royale_with_Cheeese Před 29 dny

      The worst happened to people who retired in 2008. Those poor folks saw their money drop significantly.
      Folks who were invested during that time and continued forward got it all back with plenty more.

    • @gordonallen9095
      @gordonallen9095 Před 29 dny

      It's RIGGED. The average person can't win no matter how you strategize. Between inflation, and a roller coaster market that's impossible to anticipate or time, you can lose it all at worst, or remain stagnant at best. "Vulture capitalism."

    • @franklin9400
      @franklin9400 Před 29 dny +5

      @@Royale_with_Cheeese No they had it made. Their adult lives were defined by unlimited spending of money they didn't have. Our 35 trillion dollar debt they took from their children then haven't repaid (Never will), and the Internet boom. The people who have it worse are the people who will have to deal with the debt burden and build all the things the elderly spent all their wealth on, while not building. (infrastructure and homes).

    • @Royale_with_Cheeese
      @Royale_with_Cheeese Před 29 dny

      @@franklin9400
      Is it fair to blame the president who added the most to the national debt in one term than every president before him?

    • @dantheman6607
      @dantheman6607 Před 29 dny +6

      That’s not the point people just don’t save.

  • @breadwinningbiscuit1086
    @breadwinningbiscuit1086 Před 29 dny +40

    Going into retirement renting not a great plan. Paid off house is nice. Good idea to plan an emergency fund so you don’t need to touch 401k early.

    • @ryanclark6602
      @ryanclark6602 Před 29 dny +9

      Yes, I don’t see what plan she had at all. Rent possibly going to 3000 while not working is not a plan. You should have bought a house thirty yrs ago. That would have been a plan

    • @Chad_Max
      @Chad_Max Před 29 dny +8

      Depends on how much you have in retirement. If you have a few million that’s compounding you can live off the change in value into perpetuity and rent pretty easily. The dark side of home ownership is that while it is a shortcut to building wealth homes cost money as well - property taxes, maintenance, insurance, etc.

    • @MIkeKDBA
      @MIkeKDBA Před 29 dny +3

      My mother lives in a retirement community. You buy into it and get all of the needed support services for older people, but then it's like renting the unit. Her rent went up, her food went up, everything went up, fortunately she can afford it.

    • @ericp1139
      @ericp1139 Před 29 dny +5

      You’ll need to price in skyrocketing insurance and tax increases. A house can be a trap too.

    • @bryantsherman7263
      @bryantsherman7263 Před 29 dny +6

      Increases in property taxes and homeowners insurance is killing a lot of people too.

  • @OddlyAmusedByAll007
    @OddlyAmusedByAll007 Před 29 dny +19

    Retirement?? What Retirement? Just gonna climb into the box on the last day 😂😂😂😂

  • @user-nh4np4oq1t
    @user-nh4np4oq1t Před 29 dny +51

    Nooo really? We live in a world of competition. Have a bigger house, have more expensive vehicles, take lavish vacations. People live beyond their means. Wake up people!

  • @johnd.5601
    @johnd.5601 Před 29 dny +15

    If you think retirement is difficult, see what happens if you become disabled! If you don't look disabled it's even worse! If anything happens no insurance companies will pay for the products you paid for! The American courts will draw things out while the bills and taxes beat you into complete despair!
    You will never recover socially or financially and just forget about your education and experience because that is all worthless! You will be severely punished and the best case scenario is you become cheap labor and forced to watch illegal immigrants get the benefits that you work for and paid for!

  • @Me97202
    @Me97202 Před 29 dny +18

    Of all of my fellow Boomer friends, I was the only one saving money for retirement. My friends were all buying too much stuff and doing it on credit. I never made a high income, but I saved every month. Didn’t have a bunch of kids and retired early.

    • @richardgomez5008
      @richardgomez5008 Před 29 dny +4

      My mother's advice to buy an old house within my annual income was a tremendous help.
      As a Baby Boomer the property valves were low compared to the high skyrocking property valves now. I lived the American Dream, beginning at dirt poor.
      ❤❤USA❤❤

  • @AZITHEMLGPRO
    @AZITHEMLGPRO Před 29 dny +19

    Just wanna put something in perspective for the millennials, getting ready to put in another 35 years: $100,000 in 1994 is worth $211,570.85 today

    • @douglassmith9445
      @douglassmith9445 Před 28 dny +1

      Definitely gotta save and invest that much more as a result

    • @davidcarp5935
      @davidcarp5935 Před 28 dny +3

      the other way around, 211 1994 = 100 today from inflation ;-o

    • @nemoretime7466
      @nemoretime7466 Před 28 dny +2

      The usual comment to make would be that it would take $211k today to buy what $100k bought in 1994.

    • @DeanBKK
      @DeanBKK Před 26 dny

      Well if you invested $100k in the S&P in 1994 without contributing anything further, you would have over $600k in the market. From 1994 to 2024, the average return adjusted for inflation was 7.74%

  • @happyappy19931
    @happyappy19931 Před 29 dny +16

    SS will not sustain retirement. It wasn’t meant to.

    • @davidcarp5935
      @davidcarp5935 Před 28 dny +2

      make it meant to then

    • @jjones3566
      @jjones3566 Před 28 dny

      @@davidcarp5935 Absolutely! I agree with you! We have money to take care of everyone else in the world but our own people. F*cking b*llsh*t!

    • @rongendron8705
      @rongendron8705 Před 28 dny +1

      It's even in the original name, i.e Supplemental Social Security! It was never meant to be your only income!

    • @bigvalley4987
      @bigvalley4987 Před 27 dny

      @@rongendron8705,
      Yes it was meant to carry you. If you die within the first seven years of receiving the benefits.💯

  • @mycharles3340
    @mycharles3340 Před 29 dny +23

    People are living too close to the wind. Not having kids is a major financial stress relief.

    • @happyappy19931
      @happyappy19931 Před 28 dny

      Until there’s no future generation to run the country

  • @AKAAAK
    @AKAAAK Před 28 dny +9

    Damn, I'm retiring at 55/wife will be 59.5.... buy the key is, we'll be leaving the country to more affordable pastures with money in tow.

  • @jenniejones9714
    @jenniejones9714 Před 29 dny +35

    But we got billions for war

    • @MMK86
      @MMK86 Před 28 dny +2

      correction...trillions

    • @Dre2Dee2
      @Dre2Dee2 Před 9 dny

      Because THEY get something out of wars
      They get NOTHING from helping you. Get it? You're getting 0, today tomorrow, forever

  • @amandad6104
    @amandad6104 Před 29 dny +11

    Inflation is killing us all 😔😩💔

  • @laurenb6160
    @laurenb6160 Před 28 dny +10

    I’ve already excepted the fact I’ll never retire or own a home despite being a nurse making 110k a year. It’s never enough especially in California. I’d like to have one child but even that seems far fetched sometimes.

    • @jjones3566
      @jjones3566 Před 28 dny +3

      Isn't it great to be an American?

    • @happyappy19931
      @happyappy19931 Před 28 dny

      California is your problem

    • @FreeAgent797
      @FreeAgent797 Před 27 dny +3

      Why are you still living in a high cost of living state like California? Is it possible for you to move to a cheaper place?

    • @gregoryvierra6114
      @gregoryvierra6114 Před 25 dny +1

      Accepted?

    • @hrobbins
      @hrobbins Před 2 dny

      umm leave Cali. I did and it was the best decision ever. Its insane the cost of living there. You deserve better.

  • @UncleDavesKitchen
    @UncleDavesKitchen Před 29 dny +31

    if she pays rent she DIDN'T prepare for retirement. Social Security is approximately 1/3 of your working income, it's to SUPPLEMENT your retirement, not be the sole source of retirement income.

    • @colleenpeck6347
      @colleenpeck6347 Před 28 dny +1

      Her mother collects social security also and lives paycheck to paycheck. You can work while collecting SSI. My brother collects SSI and works 16 hours /week, so they don't use their saved income.

    • @SpicyKimchi-
      @SpicyKimchi- Před 28 dny +1

      Isn’t the amount an average of your 35 highest years? If you don’t work 10 years, any gap will average a 0, pulling down your amount.

    • @colleenpeck6347
      @colleenpeck6347 Před 28 dny +1

      @SpicyKimchi- SSI is based on a 40-year work history and SSI payments. You don't get FULL payment until then. I had a year off due to health reasons at age 20, and they asked me about it.

    • @SpicyKimchi-
      @SpicyKimchi- Před 28 dny +3

      @@colleenpeck6347 I meant to say average of 35 highest earning years, not 10. Gaps in the year pulls your average down earning you less.

    • @jjones3566
      @jjones3566 Před 28 dny +3

      Oh you must be a kind conservative.🙄🙄 Social security SHOULD sustain us. The United States has enough money to spend on it's own people, but all that money is going to the rich and to other countries. The problem is the United States and it's cruel ass system. Stop blaming people, most Americans could NEVER save all that they need for retirement.

  • @sillymadeupusername
    @sillymadeupusername Před 29 dny +11

    Sorry but I don't get it.
    How can you work from @18 years old to @65 years old and be stoney broke??
    This smacks of very poor financial budgeting/common sense?
    Even I who was a spendthrift in in 20s and 30s got my crap together.

    • @jjones3566
      @jjones3566 Před 28 dny +5

      Stop judging people. The United States SHOULD spend money to sustain it's people. Life shouldn't be this hard. It's our cruel hyper-capitalistic system that keeps benefiting the rich and making life too hard for everyone else.

    • @sew_gal7340
      @sew_gal7340 Před 28 dny +3

      @@jjones3566 You SHOULD judge so that you dont end up in that same state. A fool learns from his mistakes, a wise man learns from the mistakes of others.

    • @pinkcrayon1382
      @pinkcrayon1382 Před 28 dny

      ​@@sew_gal7340There is a difference between judging and learning. The article didn't give enough info to learn from this woman. We have no dollar amounts, no idea why she is renting, no reason why she moved, no understanding of the fixed expenses she faces.

  • @EnronnSierra
    @EnronnSierra Před 29 dny +11

    So, say on average, that ladies house hold is collecting $1,500 for each adult in SSA, that means 4,500, plus they all must have worked a good 40 years each and this is including the elderly mother. I just think they are not living within their means and they should have had a house many years ago and paid off. Some of this is bad decisions.

    • @lfkatzke
      @lfkatzke Před 29 dny +3

      Like $3,000 a month in rent?

    • @EnronnSierra
      @EnronnSierra Před 29 dny +1

      @@lfkatzke I can't see myself in my retirement paying that. I understand they have had some bad luck, but there was so bad planning too.

    • @dougfisher1813
      @dougfisher1813 Před 28 dny

      My parents pay $400 a month rent for a 3 bed 1 bath house.

    • @lili2u405
      @lili2u405 Před 27 dny +3

      Throw in all their medical bills & your theory goes out the window.

  • @lynncarrington2744
    @lynncarrington2744 Před 26 dny +2

    How can a society allow seniors that have worked they whole life to live in poverty like this? It's shameful.

  • @9davidlong
    @9davidlong Před 29 dny +6

    If you have been married ten years and spouse dies, you will continue to receive their benefits.

    • @lfkatzke
      @lfkatzke Před 29 dny +8

      Yes, but you lose your spousal benefit.... or have to make a choice between theirs and yours (whichever is higher). You don't get to "double dip".

    • @MusicLover-ui9sm
      @MusicLover-ui9sm Před 27 dny +1

      Only if you are 60 or older
      You can get widows benefits which isn’t nothing
      Or you can draw your SS or your spouse SS
      And that’s isn’t enough in most cases

  • @pgppe9488
    @pgppe9488 Před 28 dny +4

    It is strange how anyone can say that high inflation over 18-24 months could hamper retirement you should have been planned for over a 30-40 year time period.
    This story is titled incorrectly because the First Lady talking didn’t really have a retirement plan. Part of Retirement planning means getting getting out of debt before you retire, have an emergency fund and enough money in 401-K and IRA to supplement your lifestyle if not then keep working.

    • @gregoryvierra6114
      @gregoryvierra6114 Před 25 dny

      Exactly this. Thank you.

    • @chrisschulze8081
      @chrisschulze8081 Před 24 dny

      Correct, that why I’ve been putting money in my Roth IRA since I was 30….25 years now, also have a paid off house and cars, other investments and liquid, still don’t feel great once the money stops and the spending begins…gotta plan, the earlier the better….I have my son maxing out his Roth starting at 24.

    • @Dre2Dee2
      @Dre2Dee2 Před 9 dny

      Her light bill went up and wiped out her 750,000 dollars she had in retirement?
      Or did her light bill go up, and wipe out the 200 dollars she had in checking?
      I think I know which one actually happened

  • @diadora9292
    @diadora9292 Před 28 dny +4

    House and cars have to be paid for….debt free before even considering retirement. Good luck to everyone in this bizaro effing world we live in today.

  • @seventhchild7270
    @seventhchild7270 Před 28 dny +4

    I DOWNSIZED my life since the 2008 Recession,......I LIVE my life nice but simple, healthy, spiritually, and definitely live below my means!...it allows more room to adjust to the coming DEPRESSION AND high cost of food, utilities, various insurances, taxes, etc...still driving my well maintained 2011 Kia Rio..67,900 miles...Even my State retirement is taxed each month,...

  • @ericp1139
    @ericp1139 Před 29 dny +3

    A lot of people underestimate how much money is needed to actually retire. You can’t just plan that everything goes perfect for the rest of your life. Capitalism/neoliberalism will be a rude awakening for the majority of retirees.

  • @sallyprzybil2404
    @sallyprzybil2404 Před 29 dny +6

    Don’t rent! Rents can go up every year, and landlords don’t like to rent to elderly persons. Buy a small house. As a retiree you are not tied to how good the job market is in the area you buy, so that opens up for home purchase many small towns and small cities where the working public is passing over because of their smaller job market. Also, like her, many seniors are taking care of other family members. Millions of seniors have custody, or have had to adopt, grandchildren that have been abandoned by family members. We’re called Grandfamilies or Kinship families, and there are millions of us in the USA. Also, in this tough economy, some of the kids themselves, bringing their families, are moving “back home”. Mine did, so now I’m having to stretch my Social Security and Nest egg to support 4 people. And I’m not alone in this situation.

    • @lfkatzke
      @lfkatzke Před 29 dny +2

      So, when you go broke - who's going to pick up the ball for you? Your kids? They already proved they can't make a go of it on their own.

    • @Dos-dh9ul
      @Dos-dh9ul Před 29 dny +1

      Moved to Tijuana mexico 5 years ago ride my motorcycle to work 3 days a week to San diego, best decision I ever made

    • @sallyprzybil2404
      @sallyprzybil2404 Před 27 dny

      @@lfkatzke I’m hoping that doesn’t happen. I’m hanging on to my ‘nest egg’ with a tight fist, only using some of the interest it generates for expenses. Budgeting carefully, or trying to. Moving to a smaller town, where the economy is a bit more reasonable than where we’re at now. But, yes, that is a worry, and many older people are in danger of that. 30% of the homeless, unhoused, are Seniors. And seniors are the fastest growing group in the homeless population. So it is a worry. I’m making a plan to avoid that.

  • @greekbarrios
    @greekbarrios Před 27 dny +5

    It's great you prioritise your retirement. The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.

    • @AntagonisticAsian
      @AntagonisticAsian Před 27 dny +2

      Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.

  • @JessT-vg7ib
    @JessT-vg7ib Před 26 dny +2

    Maybe if the average American stopped eating for a week they'd lose weight and save money.

  • @Gone_huntingg
    @Gone_huntingg Před 24 dny

    have you ever heard a politician complaining about not having money or trouble retiring. a civil war is brewing.

  • @chrisschulze8081
    @chrisschulze8081 Před 24 dny +1

    You must own your home outright…rent will continue to go up even during normal times…..

  • @TH-1988
    @TH-1988 Před 27 dny +1

    People will start living in their vehicles in the next 10 years, even with a $50k + salary.💯

  • @pinkcrayon1382
    @pinkcrayon1382 Před 28 dny +1

    I take issue with the final comment of the reporter that inflation is eating away at ASSETS. It is not. The value of assets has continued to go UP. Real estate, equities, etc., are all thru the roof. Inflation eats away at INCOME. A savings account/car/paying rent is not an asset. And if one is taking $100 here and there out of a 401k, that is poor planning. I think this woman honestly saved and planned...just not enough or for the right things. I would love to know more about her situation.

  • @MrAlexanderTheG8
    @MrAlexanderTheG8 Před 28 dny +1

    And you know who competes for the same jobs? Older folks and teenagers! Go to your local Walmart, it’s seniors and young adults! 😢

  • @EZPZ7
    @EZPZ7 Před 28 dny +3

    really? 😮 We have enough money for forever wars ...and billions of $$$$$$

    • @jjones3566
      @jjones3566 Před 28 dny

      Absoutely agree with you! We have enough money to take care of everyone else in the world but we can't take care of our own senior citizens????

    • @rowdybush1
      @rowdybush1 Před 28 dny

      @@jjones3566 These people chose not to take care of themselves, for starters. On top of that we give 100x more to Americans via all the welfare programs from food stamps to section 8.

  • @mariahsmom9457
    @mariahsmom9457 Před 23 dny

    SS was NEVER meant to fund your entire retirement. Why are people still needing to learn this lesson? Plus, people are wanting to spend four decades in retirement- and not save for it. Unrealistic expectations.

  • @pubmeatman
    @pubmeatman Před 28 dny +5

    $3000 for rent, I bet everyone in the household has an expensive cell phone, they drive nice cars. They are financial irresponsible.

    • @millabasset1710
      @millabasset1710 Před 12 dny

      Everyone needs a phone in this economy
      Quit being an idiot! I own my own house, but the rent prices in northeast are downright extortion. My uncle is a slumlord and I see how he scams people on a yearly basis in regards to rent on properties that are 40 years old.

  • @vickybiagini8623
    @vickybiagini8623 Před 28 dny +1

    The problem is we kive too long into our sixties and seventies. Its a very hard struggling life for alot of people.

  • @leondonald
    @leondonald Před 9 dny +3

    For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

    • @donna_martins
      @donna_martins Před 9 dny +2

      Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.

    • @Walter_hill_
      @Walter_hill_ Před 9 dny +1

      Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.

    • @berkrix4312
      @berkrix4312 Před 9 dny +1

      Mind if I ask you to recommend this particular advisor you using their service?

    • @Walter_hill_
      @Walter_hill_ Před 9 dny +1

      Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

    • @berkrix4312
      @berkrix4312 Před 9 dny

      Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

  • @agoogleuser9218
    @agoogleuser9218 Před 23 dny

    this is why I plan to convert my 401k account into an annuity - no worries about running out of money then.

  • @Lauren-vd4qe
    @Lauren-vd4qe Před 29 dny +5

    Live with a friend or a relative, rent a room in a house with shared kitchen/bathroom/laundry. Get an older smaller RV trailer and get a full service hookup in a smaller community for $300/mo or less.

  • @aaap3875
    @aaap3875 Před 12 dny

    rent is 3000????? Where the hell is she living? Even in California youre not paying 3000 for a reasonable 2 bedroom house... she needs to cut her expenses and stop living waaaaaay beyond her means

  • @MS-ty8eq
    @MS-ty8eq Před 28 dny +1

    Too many people want to retire early 60s but they live another 30 years. Thats too long

  • @tmi4507
    @tmi4507 Před 23 dny

    So essentially people are only saving for the bare minimum for retirement? I feel like telling people whatever you think you’re gonna need at 65. Go ahead and double that amount at a minimum.

  • @johnstallings4049
    @johnstallings4049 Před 28 dny +2

    Im saving up to be poor & have lived on a fixed income of $19,000 a year for over a decade! 😶

  • @lifestooshort6801
    @lifestooshort6801 Před 28 dny +2

    People are struggling to just survive 🤔 In between you're hopping to have enough to retire 😒

    • @jjones3566
      @jjones3566 Před 28 dny +1

      Cruel, isn't it? But, wait, how do we have money for everyone else in the world but our own citizens?

  • @Lp-ze1tg
    @Lp-ze1tg Před 28 dny +1

    I don't think it is limited to American anymore.

  • @jaygold4467
    @jaygold4467 Před 22 dny

    Lift The Wealthy Tax Cap on Social Security completely. Increase Social Security payments to Senior Citizens!

  • @irwinsaltzman979
    @irwinsaltzman979 Před 26 dny +1

    1. Spend less than one makes. 2. SS is a portion of ones retirement income. 3. Wealth inequality is an issue as the wealthy pay less taxes % , then lower income people pay. Also wealth can be passed on to their children, with very little if any taxes paid. See owners of many NFL teams.

  • @troyyang3703
    @troyyang3703 Před 24 dny

    Not investing in stock market kills retirement.

  • @cyclops9125
    @cyclops9125 Před 28 dny +3

    More money for ukraine

  • @garycheng901
    @garycheng901 Před 26 dny

    Retire overseas is an option. Thailand, Malasia, or any contries that provide visa for retirees. The cost of living is way lower and you can have low medical bills.

  • @aaap3875
    @aaap3875 Před 12 dny

    Barely getting by and paying 3000 for rent... the numbers dont add up

  • @scottankers6690
    @scottankers6690 Před 29 dny +4

    Because they are afraid to truly invest their money over the long term. CDs are not gonna cut it.

  • @burkhardproksch637
    @burkhardproksch637 Před 27 dny

    Let me get straight to the point: what good is all that money a month if you have to pay a lot more out of your own pocket elsewhere? You lose more than you can earn in this country. And the spiral goes on and on and never stops. Does it still make sense to live in this country?
    Other countries also have their problems, but it's still better than in this country. People somehow feel happier.

  • @masterofnone2705
    @masterofnone2705 Před 28 dny

    Easy math. You get to decide when you retire at whatever age you want. How much do you want per year times 25. You desire 50k? 50k x 25 is 1.25mil. 75k? 1.875mil. 100k? 2.5mil. I didn’t make this up. It’s called 4% withdraw rule to sustain 30 years with very high success rate. It’s too low? Go make your own whatever % rule but higher the number, shorter years that pool of your money can support you. SS is not going to be enough to support my desired found to support retirement. I knew that when I was teenager and that was long time ago.

  • @richardgomez5008
    @richardgomez5008 Před 26 dny

    The American Dream is out of reach for many Americans.
    I lived the American Dream.
    ❤❤USA❤❤

  • @fernandogallardo3458
    @fernandogallardo3458 Před 29 dny +2

    If you want the solution to inflation: LOVE ONE ANOTHER
    If you want the solution to poverty: LOVE ONE ANOTHER
    If you want the solution to homelessness: LOVE ONE ANOTHER
    If you want the solution to crime: LOVE ONE ANOTHER
    If you want the solution to violence: LOVE ONE ANOTHER
    If you want the solution to greed: LOVE ONE ANOTHER
    If you want the solution to warfare: LOVE ONE ANOTHER
    If you want the solution to hate: LOVE ONE ANOTHER
    If you want the solution to the economy: LOVE ONE ANOTHER
    If you want the solution to peace: LOVE ONE ANOTHER
    If you want the solution to all evil: LOVE ONE ANOTHER
    If you want to make America great: LOVE ONE ANOTHER
    If you want to make the economy strong: LOVE ONE ANOTHER
    If you want to love God: LOVE ONE ANOTHER
    If you want to do good: LOVE ONE ANOTHER

  • @ButcherBird-FW190D
    @ButcherBird-FW190D Před 27 dny

    She says they are relying on SS ? SS was never meant to sustain even a middle class lifestyle. It's a bare minimum safety net, that's the way it was designed. Past this; she's referencing rent ? Uhm, we're roughly her age and we own two homes free and clear... That's the point.... Going through life as a Renter is not going to end well for most people. That's not to say that owning a home is a panacea, but it's likely going to help a huge chunk as you get older.

  • @PraveenSriram
    @PraveenSriram Před 29 dny +1

    I have a wealthy family fortunately to fall back on if I am a good honest person who continues to help others even when my elder parents pass away hopefully much later than sooner and I will be turning 41 years old this year.

  • @matt7684
    @matt7684 Před 26 dny

    I'm definitely not in a hurry nor looking forward to age 65.

  • @bobbywright4087
    @bobbywright4087 Před 29 dny +1

    This is America inflation is a very real thing mass number of people struggling...thanks biden thanks trump ..really I blame my self

  • @millabasset1710
    @millabasset1710 Před 12 dny

    I'm not a math expert and finance authority, how much do you need to retire? I'm going to assume bare minimum $5 million. What's to say the worst happens in the future? Dollar devalues to the point you need $30 million or $50 million to retire as a single person.

  • @Barbara-jn2gw
    @Barbara-jn2gw Před 24 dny

    First mistake, move to Florida. Home insurance is outrageous

  • @Spdr1913
    @Spdr1913 Před 29 dny +8

    Too many dollars in circulation

    • @OrdinaryMan1999-tn4hh
      @OrdinaryMan1999-tn4hh Před 29 dny +2

      and yet the vast majority of people don't have those dollars.

    • @dantheman6607
      @dantheman6607 Před 29 dny +1

      That’s not the point or even true the message here is save for retirement

    • @OrdinaryMan1999-tn4hh
      @OrdinaryMan1999-tn4hh Před 29 dny

      @@dantheman6607 Economists will tell you that keeping your money in a bank loses it's value over time.

    • @rowdybush1
      @rowdybush1 Před 28 dny

      @@OrdinaryMan1999-tn4hh You don't put your retirement saving in the bank..lol! You are definitely an ordinary man and that's the crux of the retirement problem,

  • @CalvinMorris-cf8jk
    @CalvinMorris-cf8jk Před 28 dny

    I see a lot of older people running around in giant homes 300 dollar shoes gold chines diamond rings 80,000 dollar cars gold cards 6,000 dollar French dogs and eating out at the nicest placeless in town how on earth can they not save for retirement.

  • @patwilson1257
    @patwilson1257 Před 29 dny

    NO, social security IS NOT ENOUGH…………….i can witness to that……………… EVERYTHING HAS GONE UP………..the essentials eat up your check before you half way through paying your bills…………………

    • @jjones3566
      @jjones3566 Před 28 dny

      But...we have trillions of dollars for migrants and foreign wars!!!!!

  • @mazie7952
    @mazie7952 Před 28 dny

    What's retirement???

  • @y.r.9401
    @y.r.9401 Před 26 dny

    They need to lower the retirement age to 50!

  • @JP-te7kd
    @JP-te7kd Před 29 dny +3

    I can't understand why so many retirees don't own their home. We live in a low-cost area and own our home. We can retire comfortably. If I lived in a high-cost area renting, I would plan on working until I die.

  • @dawolvx3098
    @dawolvx3098 Před 29 dny +1

    You cant retire in the US, take what you have and ex pat out of the US and to another country, at least your taxes anywhere else will provide health care, medications, etc.

    • @dantheman6607
      @dantheman6607 Před 29 dny +1

      Bull plenty do I did and it’s the best feeling. You know what’s not living some place where you don’t speak the language

    • @jjones3566
      @jjones3566 Před 28 dny

      @dawolx3098 I agree with you. We have money to spend on everyone else in the world (foreign wars, migrants, aide to other countries, etc.) but we don't have the money to take care of our own people? F*cked up! I wish I could go back to Germany where my life was so much easier than it is here in the U. S.

  • @davidcarp5935
    @davidcarp5935 Před 28 dny

    Oh you got money, I see it on the table!

  • @robertm8380
    @robertm8380 Před 28 dny

    Americans should be able to tax the government everytime they send foreign countries money without sending back to United States causing huge inflation

  • @eajinabi
    @eajinabi Před 29 dny +1

    So who's fault is this and how does this get fixed?

    • @LarryManiccia
      @LarryManiccia Před 28 dny

      Every American is responsible for their own future. Don't get me wrong the gov't is screwing everyone over with the increase in inflation the last 40 years, especially the last 5, but in order to have a chance you need to start saving early, and live within your means during your working years. If not you won't have a prayer of ever stopping work and retiring. It's not easy, but the sad fact is many Americans just lack the discipline to do it. To answer your second question; no one is going to fix this but each individual. The government is only going to make the situation worse.

    • @jjones3566
      @jjones3566 Před 28 dny

      Who's fault is it? Well, not our hyper-capitalistic system that favors the rich! Not our government who has money for everyone else in the world but it's own people!

    • @jjones3566
      @jjones3566 Před 28 dny

      @@LarryManiccia Yes, it is a sad fact. And Americans sit around while their government gives money to everyone in the world, but can't take care of it's own senior citizens. Americans have an attitude like this is just the way it is. Wake up!

    • @eajinabi
      @eajinabi Před 28 dny

      @@jjones3566 so how do you fix it?

  • @528sunchaser
    @528sunchaser Před 28 dny +3

    Social Security was NEVER meant to be 100% of anybody’s retirement. Legitimately, many people struggle, but a greater percentage of Americans live above their means and always have. This is not news.

  • @vincentnnyc
    @vincentnnyc Před 28 dny

    First world problem. How does older folks in third world countries like vietnam, Thailand, Mexico, Argentina, etc afford retirement if they don’t have 401k in those countries?

  • @itconsgenio
    @itconsgenio Před 27 dny

    Because you guys keep printing money which causes inflation.

  • @angelachanellehuang5663

    Thank God

  • @MMK86
    @MMK86 Před 28 dny

    here in Canada the governments MAID program will be most peoples way of "retirement"

  • @RETUSAF1995
    @RETUSAF1995 Před 21 dnem

    My SS is half that.

  • @rovalwalters4714
    @rovalwalters4714 Před 11 dny

    Anywhere am living an can grow my own food am not living there.

  • @mathew3267
    @mathew3267 Před 28 dny +7

    Its your own fault for spending all of your money like its burning a hole in your pocket and now nothing for retirement.

  • @codelessunlimited7701
    @codelessunlimited7701 Před 28 dny

    A healthy Americans should leave US with their retirement accounts.

  • @cutehumor
    @cutehumor Před 29 dny

    Her mother should go to a nursing home because she is sacrificing herself just to keep her home. If you say I’m dumb, she shouldn’t complain about not having money in her retirement. She sacrificed herself financially for her mother

    • @jjones3566
      @jjones3566 Před 28 dny +1

      Yes, and she should not have to sacrifice herself financially for her mother to have good care in the richest country in the world, should she?

  • @jesuswasasocialist4349
    @jesuswasasocialist4349 Před 28 dny +4

    Ending inflation starts with you

    • @chrisadams3384
      @chrisadams3384 Před 28 dny +4

      You sound like my boss that makes over 300k a yr.He just can't understand how some one like me making $18 a hr is having such a hard time.SMH!!!

    • @happyappy19931
      @happyappy19931 Před 28 dny +1

      Also Jesus was not a socialist.

  • @ronmexico5908
    @ronmexico5908 Před 28 dny

    Americans have historically been awful savers. Those that couldn’t afford to save are obviously excluded. The time to start saving is when a child is born. Not in their 30’s and 40’s when it’s too late

    • @jjones3566
      @jjones3566 Před 28 dny +2

      Yes, Americans may be awful savers, after all, since birth we are brainwashed into believing that collecting things will make us happy.

  • @faronray5765
    @faronray5765 Před 28 dny +2

    You don't know how they managed their financial situation. Most people live way beyond their means

  • @kealiimaxilom2465
    @kealiimaxilom2465 Před 27 dny

    What is retirement? Does it taste good dipped in custard?

  • @Dre2Dee2
    @Dre2Dee2 Před 9 dny

    Nobody deserves to retire, it was always a delusional idea and only now, WHEN IT'S TOO LATE, are you figuring that out
    STOP being lazy

  • @sandybeach3576
    @sandybeach3576 Před 28 dny

    My retirement home is my car 😮

  • @ANGELCRYPT0
    @ANGELCRYPT0 Před 29 dny +1

    Stack your Sats and XRP folks.

  • @miragexl007
    @miragexl007 Před 28 dny

    many of us live behind or me... And when you have Bidenomic type years.. It's time to reboot and rethink things a little bit and cut back.. and there's probablypeople that Believe biden and the administration that things are great/improving and probably are spending more. Sad

  • @rickdunn3863
    @rickdunn3863 Před 28 dny +1

    You can ONLY complain if you didn't vote for Biden. You deserve to be broke, but the rest of us want TRUMP, and want America to be FIRST, NOT LAST. FJB

    • @fd-to7ex
      @fd-to7ex Před 28 dny +1

      No way 80 million Americans voted for Biden.

  • @bigdogbill8988
    @bigdogbill8988 Před 29 dny +1

    Dave Ramsey gives a great guide on what to do… tough questions will be asked, re-evaluating your whole budget, and even moving to a lower cost of living area.. possibly could happen.. it’s better to start somewhere, than to not even try at all.

    • @longbeach225
      @longbeach225 Před 29 dny

      Its easier to pack your bags and move overseas far cheaper places. I been to Ecuador and I saw US retirees living comfortable on 1k income. America is a ripoff!

  • @_TONY_Az
    @_TONY_Az Před 29 dny

    Try it ssdi good luck.i had no choice i was hit by a drunk driver that bought his way off totally screwing me over the of az helped him his 4th dui i was a young man i dont eat one week every month food banks i dont drive and they delivered one meal i was like your kidding i get no additional help

  • @JPAGH
    @JPAGH Před 29 dny +1

    Econmy is great, and Bidenomics works well, liberal media say.

    • @happyappy19931
      @happyappy19931 Před 29 dny

      Riiight

    • @GreenEnvy.
      @GreenEnvy. Před 28 dny

      Says the guy who thinks Trump was good. How's that wall you were promised?

    • @jjones3566
      @jjones3566 Před 28 dny

      And the cruel Republicans do so well, don't they? Get your facts straight, please. Trumpm added over 8 trillion dollars to the national debt while he was in office.

  • @johnalver
    @johnalver Před 28 dny

    Yeah but if they didn't pày out social security it would have 💀🇺🇲a lot sooner . . . DEPENDENCE IS DEPENDENCE 💀💀

  • @mikeymarriott
    @mikeymarriott Před 28 dny +1

    Ms Buford, sounds like you’re a candidate to move to Mexico.

  • @jersmith1486
    @jersmith1486 Před 27 dny

    give and it shall be given unto you.
    Matthew 6:25-34
    New Living Translation
    25 “That is why I tell you not to worry about everyday life-whether you have enough food and drink, or enough clothes to wear. Isn’t life more than food, and your body more than clothing? 26 Look at the birds. They don’t plant or harvest or store food in barns, for your heavenly Father feeds them. And aren’t you far more valuable to him than they are? 27 Can all your worries add a single moment to your life?

  • @davidcarp5935
    @davidcarp5935 Před 28 dny

    bad luck happens as well as bad decisions

    • @jjones3566
      @jjones3566 Před 28 dny

      It is not bad luck. Don't be deluded. Here in the United States we live in a system that favors the rich and our government has enough money for everyone else in the world but it's own taxpaying citizens.