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US: Work till death
  • Vitaliy_KiselevVitaliy_Kiselev

    The Fed's 2014 Survey of Household Economics and Decisionmaking found that about 38 percent of the more than 5,800 respondents have either no intention to retire or plan to keep working for as long as possible.

    "Thirty-one percent of non-retirees have no retirement savings or pension, including nearly a quarter of those older than 45," the Fed said.

    "Even among individuals who are saving, fewer than half of adults with self-directed retirement savings are mostly or very confident in their ability to make the right investment decisions when managing their retirement savings."

    http://www.reuters.com/article/2015/05/27/us-usa-economy-retirement-idUSKBN0OC23O20150527

  • 2 Replies sorted by
  • peternappeternap

    I expect that's true Vitaliy. I expected to retire this year but the stock crash and a serious illness wiped me out. I'm not alone in my age group.

  • matt_gh2matt_gh2

    That rings true, especially when considering US median household income is $51,000. Take away taxes, then its at $31,000. Not a lot for a family of 3-4 and definitely difficult to save for retirement.

    @peternap is correct. A lot of people had the bulk of their retirement in stock market/mutual funds/IRAs and they lost 25-40% in 2008 crash. Very common.

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