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I agree that being able to save so much is a very privileged position. It also, though, represents a proportion of total dollars that is greater than the propor
by ebg13 7y ago
I agree that being able to save so much is a very privileged position. It also, though, represents a proportion of total dollars that is greater than the proportion of its constituent people. The headline number given isn't X people; it's X dollars.
- jtbayly 7y agoThat just makes it worse. Since your share of retirement savings is proportionally higher on the other side of the equation.
- ebg13 7y agoMakes what worse? Nobody is arguing here that gross inequality is good. The question here is whether "70% of current income" is a reasonable metric for individual retirement.
- jtbayly 7y agoNo, it’s not for every individual. It’s on average. My point was that for people like you where 70% is overly high and you’re already saving a lot, you’re skewing the other side of the equation as well. The big picture question is whether people have enough money saved. High savers such as yourself make the picture look better than it is, even if they are high earners, making the situation seem worse than it is.