General Discussion
In reply to the discussion: Bernie Sanders: Do you know why millions of our people are stressed out? [View all]RationalMan
(96 posts)There are millions in our country who struggle to make ends meet even with SNAP and other government and private assistance.
But let's not kid ourselves. There are many who have decent paying jobs who are engulfed in our consumer-driven economy who consume, consume and consume more without giving a thought to tomorrow.
They need to be held accountable for their consumerism but at the same time they are somewhat victims of a pervasive consumer-driven culture.
I started saving when I was about 25. It wasn't much but about $75 a month. As my income increased, my savings rate grew. I don't feel I denied myself things but I was prudent. I economized where necessary but still ate well, travelled, etc. As a result as I am within 10 years of retirement I have about $750K saved. Short of a total economic disaster I should be okay.
But when I read that most retirees today have less than $30K saved and with private pension plans all but gone, I wonder how they are going to survive on Social Security.