Tuesday, May 3, 2016

Good News and Bad News for the Typical American

First, the bad news.

May 3, 2016
Bad news: Your retirement's probably not on track

Most Americans are woefully underprepared for retirement, with the typical American reporting retirement account savings balances of under $60,000.

Now, the good news.

In 2010, the typical American was 37.2 years old. In 2014, the typical American was 37.7 years old.

Don't you see what this means? If you are the typical American, then you are barely aging at all! It could be many decades before you reach the age of 40! That should give you plenty of time to save for retirement! Woohoo!

I really should end on that positive note, but there is something else I need to discuss with you. The typical American household has 2.5 people in it. What are you doing with half a body? Where are you hiding it? Do the police know?

You can learn a lot about a person, without really knowing much of anything about that person. Behold the power of statistics!

I have some more bad news for those who read this blog regularly. It could be hours before the financial news has yet another surprising story about how unprepared people are for retirement. Yes, hours. If you're looking for me to heckle, then you'll just have to be patient. Sorry! Here is an article from earlier today to help you pass the time while you wait.

May 3, 2016
Retirement Is Absolutely Terrifying to Every Generation

Why? Because 52% think that their inability to save is going to either forces them to make major sacrifices in their retirement years or will cause them to outlive their money entirely.

Is going to either forces them? What? No, I say! Is going to special forces them! We must not let the terrorists win!

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