The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
Poor people can cope.
Sometimes.
Rich people are soft for the most part time.
That's why the poor fight wars and the rich profit from them
260 at 60? Most people live pay check to pay check. If you have 260 your set! Not just to sit around all day, but get a very small part time job or invest some of that money and live of that and use the rest to live off of. I know you think most people have millions, but a LOT of people don't get social security and can live off that fine.
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
Not well and not long. There is no health determinant quite up there with poverty.
Ignorance is bliss. Poor people are dumb. Dumb people don't know that living in poverty should make them feel bad.
Is a goldfish sad that it lives in a little bowl of water? Nope. It's too dumb to even comprehend its own situation. Same idea apples to poors. Dude can sit in a drafty shack watching TV all day without it bothering him because all that's going on inside his head is white noise anyway.
Ignorance is bliss. Poor people are dumb. Dumb people don't know that living in poverty should make them feel bad.
Is a goldfish sad that it lives in a little bowl of water? Nope. It's too dumb to even comprehend its own situation. Same idea apples to poors. Dude can sit in a drafty shack watching TV all day without it bothering him because all that's going on inside his head is white noise anyway.
If you can share the enlightenment revealed to you under the bodhi tree, please do. But if your wealthy Intelligence involves little more than ferrying your ego around in a Tesla from point A to point B, then you might as well be in a drafty shack. Or perhaps you’d be even better off like that.
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
A married couple TODAY who has $260,000 and is 65 years old and getting Social Security can absolutely make it and even comfortably on that.
Today, the average SS annual payout for a 65-year-old is $29,808. If you're married and one of you never earned a dime, the spouse gets half again that, so $44,712 total for both.
That doesn't make you rich, but if you paid your house off before age 65, and you don't have any debt as you shouldn't in retirement, then you can live just fine on that in the vast majority of the country.
Now, if you take 4% of the $260,000, that's another $10,400 per year, so we're up to $55,112.
That couple would pay next to nothing in taxes, they have no debt and no dependents living with them. Not a problem.
Yes, there are LOTS of people much less well off than that.
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
A married couple TODAY who has $260,000 and is 65 years old and getting Social Security can absolutely make it and even comfortably on that.
Today, the average SS annual payout for a 65-year-old is $29,808. If you're married and one of you never earned a dime, the spouse gets half again that, so $44,712 total for both.
That doesn't make you rich, but if you paid your house off before age 65, and you don't have any debt as you shouldn't in retirement, then you can live just fine on that in the vast majority of the country.
Now, if you take 4% of the $260,000, that's another $10,400 per year, so we're up to $55,112.
That couple would pay next to nothing in taxes, they have no debt and no dependents living with them. Not a problem.
Yes, there are LOTS of people much less well off than that.
I didn't realize social security paid out that much. I'm assuming in the 260k figure that the house is included. I don't know if the median couple owns 260k in equities, I'll have to do more research. That does sound reasonable though to live off of 55k/yr without mortgage payment and taxes.
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
Quite a few don't retire. I have several friends in their 70s who are plugging along just like they were doing all their lives because they can't afford not to work. Even if they retire from their main job they'll get something else that doesn't pay as much and combine that income with their Social Security. Some will move in with their kids. And at the end of the road there's the county home where Medicare pays the bill.
A married couple TODAY who has $260,000 and is 65 years old and getting Social Security can absolutely make it and even comfortably on that.
Today, the average SS annual payout for a 65-year-old is $29,808. If you're married and one of you never earned a dime, the spouse gets half again that, so $44,712 total for both.
That doesn't make you rich, but if you paid your house off before age 65, and you don't have any debt as you shouldn't in retirement, then you can live just fine on that in the vast majority of the country.
Now, if you take 4% of the $260,000, that's another $10,400 per year, so we're up to $55,112.
That couple would pay next to nothing in taxes, they have no debt and no dependents living with them. Not a problem.
Yes, there are LOTS of people much less well off than that.
I didn't realize social security paid out that much. I'm assuming in the 260k figure that the house is included. I don't know if the median couple owns 260k in equities, I'll have to do more research. That does sound reasonable though to live off of 55k/yr without mortgage payment and taxes.
Remember that $29,808 is an average so lots of people aren't getting that much, some not by a long shot. I know people not getting even half that much.
The POOR people are really going to have it rough after 4 years of dEmOcRat control. $6 gas and 9% inflation and supply chain issues so you can't get your DEPENDS and Protein Shakes.
Thank God they will most likely have all of their loans paid off, so they won't have to grovel for "free stuff" like today's grifting progressives.
It's part of the plan to get old, poor people to die quickly so the government no longer has to pay their benefits and get to pocket it. That's why they (Social Security) always advises to hold off taking your benefit until you're 70, knowing damn well most people die within 5 to 10 years after that age.
If you take it at 62, while the benefit is less per month the extra years you receive and thus accrue money will take 12+ years to reach the break even point of waiting until you're 70 for the maximum payout...if it even exists by then.
Important to have any long term debt cleared off and take SS early. You can still work part time (work from home is ideal) and not get penalized if you don't exceed your yearly benefit total and after 66 you could work all you wanted if so desired.
The median net worth of a couple in their 60s in America is like 260k. That is not enough to live off of. What do the 50% of folks in this bucket do to survive? Is it just living off of social security checks?
Almost everyone needs medicare, and a huge number need SS checks. These same (conservative) people proclaim that anything that smacks of "socialism" is evil. What a bunch of hypocrites. We need public programs if we are going to have capitalism. Its ironic. But the the system guarantees losers and winners regardless of how "hard you work". With more wealth accumulating in the hands of few, its getting worse. Everyone becomes pro public programs when they hit 65. They just claim they are not.
The POOR people are really going to have it rough after 4 years of dEmOcRat control. $6 gas and 9% inflation and supply chain issues so you can't get your DEPENDS and Protein Shakes.
Thank God they will most likely have all of their loans paid off, so they won't have to grovel for "free stuff" like today's grifting progressives.
??? rPUBElickers want to cut medicare and social security!!! Inflation comes and goes people can ride it out.