ShOuLd HaVE saVeD sOmE DAmn mOnEyyy…
Comment on Keep in mind that social security is set to run out in 10 years time.
Smokeydope@lemmy.world 10 months ago
Many of the elderly retirees are already forced to choose between living in a vehicle or paying rent and starving. If SS is still a thing by the time im old enough to retire that monthly check wouldnt be enough to even afford a hyperinflated big mac let alone rent.
ToeNailClippings@lemmy.world 10 months ago
Smokeydope@lemmy.world 10 months ago
NGL im kind of halfways on that. Yes obviously thinking about investment and ways to make up passive income or even start your own buisness are the best ways to plan for a healthy retirement fund. But people who come from poverty, poorly educated to begin with, poor financial mindset, and just scrapes each week are going to have a much harder time of it and if they try they usually fall for an MLM scheme. Its easy to judge these people and go ‘well your financial failure to save up is your own fault you idiot’ but Ive had enough poverty stricken friends to know that the deeper the hole you are born into the harder it is to climb out of even with honest work and doing your research.
ToeNailClippings@lemmy.world 10 months ago
Exactly. You have to earn enough in the first place to save enough.
Smokeydope@lemmy.world 10 months ago
Either earn enough or become super frugal and cut down on the expenses to the point you can actually save with what you make The biggest thing a single person can do to reduce their expenses is cut out the rent payments by living in a vehicle for a bit while working and use that money to pay it off. But obviously not everyone has the mental fortitude to live such a radically different lifestyle or freedom from responsibility to do so even if they wanted to.
Blackmist@feddit.uk 10 months ago
If you don’t own your own property by the time you retire, then you’re fucked.
Asafum@feddit.nl 10 months ago
Even then, my landlord needs my income too or she can’t afford the house… It’s so disgusting.
Part of me wishes we could all move out and once and force the wealthy to reap what they sow. Everything is too expensive and we’re not paid enough, social security isn’t enough, well when they’re the only ones left for miles and miles then who will do everything for them?