3 upvotes, 6 direct replies (showing 6)
View submission: Living with no Retirement money
Is this the new welfare queen with Cadillac? How many people do you really know with $1000 car payments who don’t have retirement dollars?
Comment by AnniemaeHRI at 06/02/2025 at 01:23 UTC
12 upvotes, 0 direct replies
I’m 57, husband is 60. We have been vigilant about saving and should be fine as we’ve even sorted out long term care plans for each of us. We did live in a HCOL state but moved and downsized since kids are adults now. We know at least 7-8 couples that are spending everything they make and around our ages. Expensive cars, vacations, campers, one currently building a lake house. They don’t seem very concerned but they’re going to have such a difficult time when retirement comes. I’ll never understand it.
Comment by bernadette1010 at 06/02/2025 at 02:13 UTC
6 upvotes, 0 direct replies
I know two couples right off the bat like this. It’s not as uncommon as you think!
Comment by primalchrome at 06/02/2025 at 02:42 UTC
3 upvotes, 0 direct replies
Is this the new welfare queen with Cadillac?
No...it's the 'keeping up with the Joneses' mentality that has gone hand in hand with stockholders demanding record profits every quarter. It is very common and I'd estimate half of the people I know in my generation are leveraged to an unhealthy degree.
Comment by Aware-Fuel-7031 at 06/02/2025 at 03:25 UTC
2 upvotes, 0 direct replies
Alot of people. More common than not. if people dont learn how to manage money and live within their means when they are young, it is very hard to learn that when they are old. When you get old and you have the time to meet up with friends more regularly, people start to talk more freely and Ive learned stuff! It is shocking how much money people can spend.
Comment by DarthTurnip at 06/02/2025 at 02:49 UTC
1 upvotes, 0 direct replies
I know a farm manager with a new trophy truck and his payments are more than $1000 a month. 36 and not a penny saved anywhere.
Comment by paracelsus53 at 06/02/2025 at 00:27 UTC
1 upvotes, 0 direct replies
These people live in Fairyland.