Americans face retirement savings crisis | NewsNation Now
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- čas přidán 13. 05. 2024
- Many retirement-aged Americans don’t have enough money saved or are withdrawing funds earlier than planned. Retirement security expert Teresa Ghilarducci joins “NewsNation Now” to discuss how the pandemic impacted early retirements and why the crisis hasn't been a large discussion during the 2024 presidential campaign season.
#Retirement #Finances #Pandemic
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One of the other things somewhat ignored here is that many seniors not only unwillingly get forced out of work, but when they try to find some other type of work, they are discriminated against due to ageism and cannot find anything. In fact, the most rampart type of discrimination out there these days is age discrimination. And then you have many who physically cannot work anymore.
I've been reading a lot about the challenges older Americans face as they approach retirement. It's concerning how many are underprepared financially.
That's a good point. With the global economy being so unpredictable, especially after the recent downturns, those without a solid retirement plan could see their portfolios severely affected. It's essential to diversify and include safer investments.
My parents are in a weird boat. They've mostly invested in stocks, and the volatility has been hard on them. I'm considering helping them reallocate their assets to include more stable investments like bonds or annuities.
Yes, my financial advisor helped me shift part of my portfolio into less volatile assets. It's not just about having enough money but also ensuring it's protected from market swings. This has been especially important given the global economic uncertainties.
His name is Eric Paul Elmer
It's great to hear you're also working with Eric Paul Elmer, you know its hard to find someone who knows what they are doing nowadays
When you turn 50 or 60 years of age Don’t give anyone your money
Don’t give family or friends or even people in need
You are in need too
You need your money
My parents and grandparents are givers that’s good
Except when they turn 50 -60 - 70 all kinds of family friends and business partners took advantage financially of my parents and grandparents
This is a lesson
Don’t give people money ever
Financial literacy should be mandated in high school.
And teach them how inflation happens and why...and that presidents can't snap a finger to fix it.
If you don't own your property freehold when you retire, you're in big trouble.
You don’t actually own it then. Don’t pay your property taxes and see what happens.
Absolutely true. My insurance and tax is less than $200. a month and my home is paid for.
@@thadlm2698 Ha! True! Unsure of US law, but here in NZ if you don't pay (about $2000 p/a depending on where you live) there's a lengthy process to sell it, and then the owner gets whatever's left. So you own it, but you are forced to pay the rates (taxes) and their last resort is to sell your property.
@@UncleDavesKitchen Yeah, I'm in a similar position. Plus I have a freehold rental, and that makes a huge difference.
I sold my property and made a decent profit. Great decision for me.
Roth 401Ks should have been legislatively mandated 30 yrs ago for every working American
True!!!
I think they do that in Australia
Why is this woman thinking of buying a house after retirement? We had great opportunity for decades to buy an affordable house that was easy to qualify for. Young people don't have that benefit we had.
About $1,500 is the average that people get in Social Security.
Per month?
@@pauls-finds Really? I do love the socialism of New Zealand. Come on in, the water's fine... 🙂
This guy is a jerk. Let the guest speak.
It's hard to save with an engineered inflation going on.
but seniors today had plenty of opportunity to buy an affordable home when we were younger.
Savings I'm having a hard time sleeping on a couch paying car and credit card debt just to live to fight another day.
Ditch the car and credit card, life will get better
If AI is engineered with ONE BYTE of compassion then if I was a billionaire/trillionaire I would be scared too!
I live in New Zealand, and I can't fathom why so many Americans fail to make the most of the financial opportunities in the US. To be fair, most countries in the West are struggling with its citizens not saving enough for retirement. But when I look at the US's retirement savings schemes and the purchasing power of what consumers can buy there based on each dollar, you guys are spoilt.
The government should provide senior public housing for retired people. Also, medical professional assisted suicide for those who cannot afford to live anymore.
I asked that woman's husband what you should do...He said Kick her out!!!😂
I'm sorry but why is this lady paying 3k a month for rent? Move to a cheaper place. Apartments are 2k
But people stopped saving for retirement many years ago. Boomers spent a LOT and Gen Xers have faced more recessions and crashes than Millennials can imagine. Although, those that have jobs that exploit others, are still doing fine.
Remember when people had job security and these things called pensions?
Having grown up in the 80s ... no. My Dad has a pension, that's the closest I ever got to seeing one.
"Um, um, it's definitely not what everyone knows it is. It's all these other obscure little things that cause inflation." (gulp)
More money solves everything.
Older people with property: consider helping younger people in their own homes. It will be the best thing you can do with your equity, and you won't lose money on the investment.
Trumps not going to save us lol
If you are looking to any politician or political party to solve your personal financial issues...you are in trouble.
Sucks to be u ☕️
People should stop spending their money on booze and cigarettes 😅
this dudes hair, the way he raises his eyebrow. Peak newsman right there.... oh, yeah! americans are struggling. yup, def a problem!
Sounds like the lady retired too early without alternative sources of income; she'll need to get a job.
I'm thinking... Bidenomics hasn't helped.