Summary
Faced with inflation, taxes and concerns over the size of Social Security benefits, most Americans are more afraid of going broke in retirement than they are of death.
In total, 64% of respondents across generations said they are more stressed about running out of funds in their golden years than the prospect of death.
Americans say they need $1.26 million to finance a comfortable retirement, yet the median amount saved is $87,000. “Certainly for boomers…inflation is a big deal.”
I never expected to retire, I’ll work the rest of my life.
In college, I worked part-time at a convenience store. There were a handful of middle-aged regulars that were clearly spending money they didn’t have to spare on lotto tickets. Always wondered why they wasted that money.
I get it now.
When i was weeknight bartending and making $20 a night on a “good” night, i would buy a lotto ticket once a week. I never won shit, but it’s not like there was anything else i could do with that money.
There used to be communities where single people would live together and communally care for the housing complex and healthcare for each other.
Those were Beguines and Beghards and had a religious connotation, but it could be realized without.