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Five paragraphs in, the root of many of her problems: "Her savings long gone, and having never done much long-term financial planning" Six paragraphs in, the
by rabbite 9y ago
Five paragraphs in, the root of many of her problems:
"Her savings long gone, and having never done much long-term financial planning"
Six paragraphs in, the root of elderly problems nation-wide:
"Nearly one-third of U.S. heads of households ages 55 and older have no pension or retirement savings and a median annual income of about $19,000"
Is it possible that the lack of long term financial planning, aka saving money, is the crux of many of these tragic situations?
- mattnewton 9y agoA lot of the sources of savings were in houses, which burst in 2008.
- notacoward 9y ago> Is it possible that the lack of long term financial planning, aka saving money, is the crux of many of these tragic situations? What if it is? Even if that were the case 100% of the time, which you and I both know it isn't, the results are still something we have to deal with.
- noonespecial 9y agoIf the cost of health care isn't fixed soon, no amount of savings will be enough. At todays prices, as soon as the normal ailments of aging set in, nearly everyone will be drained of savings sooner rather than later.
- falcolas 9y agoWell, even good financial planning focuses on taking you to 80 in most cases. It also assumes a lot about the future value of your investments - a crash will knock you out for good. It also assumes that the rate of inflation doesn't change, or that your costs of living don't change drastically, or that you don't get a disease which destroys your (and frequently your partner's) savings, whether you survive it or not.
- sharemywin 9y agokids, lack of decent income to start with.