Painting a concerning picture, the median retirement savings for Americans stands at a mere $87,000, a figure far lower than what is needed for a comfortable nest egg.This savings gap—the amount people have actually saved versus what they believe is needed for retirement—is significantly rising. In fact, a recent survey from Northwestern Mutual reveals that $1.46 million is the ideal savings target for retirement, up from $1.27 million last year.This graphic shows the retirement savings that Americans currently hold, based on data from the Federal Reserve’s 2022 Survey of Consumer Finances.
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95 sats \ 1 reply \ @grayruby 15 May
Looks like a chart of people who need bitcoin to me.
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50 sats \ 0 replies \ @0xbitcoiner OP 15 May
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94 sats \ 3 replies \ @Undisciplined 15 May
I'd recommend cutting costs, including moving to more affordable areas. You can get by on a lot less in the middle part of the country.
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26 sats \ 2 replies \ @Satosora 15 May
Not only that, people need to stop wasting money.
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10 sats \ 1 reply \ @Undisciplined 15 May
That’s where I’d start my cost cutting.
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21 sats \ 0 replies \ @Satosora 15 May
Moving helps, too.
Especially in the midwest, you can buy a lot for pretty cheap.
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21 sats \ 0 replies \ @TheBTCManual 17 May
That is some bleak reading, I guess some people could sell up and move to a anoterh country to extend that runway, but sadly it looks like a lot of people primed to require government assistance to stay afloat because theyll continue to ignore bitcoin
Oh gubbermint please save me
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16 sats \ 5 replies \ @kingzing131 15 May
Networth is a much better figure imo.
There's always been figures about the low savings and high credit card debt in the US, for the past few decades.
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0 sats \ 4 replies \ @Satosora 15 May
Is there net worth that much better compared to the debt they hold?
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10 sats \ 3 replies \ @_stacktoshi 15 May
net worth is assets minus liabilities, so it will always be better (assuming they have assets)
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0 sats \ 2 replies \ @Satosora 15 May
This is based on savings though.
Not net worth.
Most boomers have assets.
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10 sats \ 1 reply \ @kilianbuhn 16 May
Homes are not only significant money on the asset side. They also lower the cost of living in the long run. An investment you literally live in
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0 sats \ 0 replies \ @Satosora 16 May
yes, something this generation cant afford
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11 sats \ 0 replies \ @BitcoinAbhi 16 May
When we do a job, the government takes around 50% of it as tax, so how will a person be able to save?
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11 sats \ 0 replies \ @Satosora 15 May
I know, its really bad.
And to know that this is the generation that was able to make lots of money...
Seems irresponsible.
But what can you say, most of these people are our parents..
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8 sats \ 0 replies \ @Coinsreporter 16 May
That's very low considering the high living cost at many places on US!
How can old people cope with their medical bills because that's only worth to maintain their livelihood.
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