U.S.Workers and retirement?

[Swimmer]

Saw nbc last night too. Really a shame so many people have so little, and so little to look forward too during retirement. There is more to consider here though as well. What did people do with thier earnings during thier careers. Many people have tendencies toward unwise spending patterns; borrowing to go on vacations they can't afford, lottery, Foxwoods, and so on. Unfortunately many people in the 36% bracket just never earn much money. I would be broke if it wasn' for my wife. Corvette here, corvette there, here a corvette, there a corvette, well you know the rest. I did leave out the boat purchases.

[Fly Rod]

Originally Posted by Swimmer

Saw nbc last night too. Really a shame so many people have so little, and so little to look forward too during retirement. There is more to consider here though as well. What did people do with thier earnings during thier careers. Many people have tendencies toward unwise spending patterns; borrowing to go on vacations they can't afford, lottery, Foxwoods, and so on. Unfortunately many people in the 36% bracket just never earn much money. I would be broke if it wasn' for my wife. Corvette here, corvette there, here a corvette, there a corvette, well you know the rest. I did leave out the boat purchases.

U R so rite...people do not plan for retirement....they want to keep up with the Joneses....buy what they can not afford...boats...new cars....300 dollar cell phones...skiing whether single or married.....parents want to mortgage their home to send kids to college etc:...they love being in debt

Should have invested their money....stock market paid 17-20 percent last year....banks maybe a 1/4 to 1/2 percent...banks R terrible.....and do not be a day trader...and get a financial adviser...rule of thumb was save at least 10% of pay check