“Nearly half of Americans think they’ll retire in debt: Here are the 5 top reasons why”
January 5, 2022
“…Nearly half, 46%, of the 2,050 people polled in a new MagnifyMoney survey think their current financial situation will force them to retire in debt. The survey included workers of all generations, from ages 18 to 75, not just those approaching retirement.
Those worried about their financial prospects for retirement offered five main reasons why. (Respondents could pick multiple answers.)
- “An unexpected health issue could impede my plans”
- “Social Security could run out”
- “I started saving too late to catch up”
- “I’ll never be able to afford to stop working”
- “A stock market crash could cause me to lose my savings”…”
https://grow.acorns.com/why-americans-think-theyll-retire-in-debt/
- That’s what insurance is for.
- Don’t count on social security. It’s not going to be there. I don’t think 401k will be there either. If your 45 or younger I would consider withdrawing all your money and investing elsewhere if I were you.
- Maybe so. In that case start investing in your children if it’s to late for you. They have no debt. Its much faster to make them rich which will help you.
- Find a job you love and that’s not a problem. Many people die after they stop working. Especially men. Men need purpose to live.
- A stock market crash is the time to invest. Everything will be pennies on the dollar. Its a gamble yes but any big company that doesn’t go under with super cheap stock will make you rich.