Reply to Retiring on $60k/year

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[quote=Anonymous][quote=Anonymous]OP's situation is a reminder that we do have a retirement crisis in this country. The media loves talking about 401k averages, the government rather not talk about her people, and wealthy people pretend they don't exist.

The reality is with the rise of grey divorce and the fact that a lot of people don't really make enough, a lot of people are not going to be able to retire. It sucks.[/quote]

There will always be people who don't save. That's we have Social Security as a safety net. But when the "retirement age" was set at 62, there weren't nearly so many people living into their upper 80's and into their 90's. Saving enough money for an 8-10 year retirement is completely different from saving enough for 30 years during a 40 year working career, especially if it's a family with a SAHM. One person has 40 years to make enough for two people to retire for 25-30 years each, so basically a total of 50-60 years. Especially considering that older people are healthier these days, it is reasonable for the retirement age to be higher. People were never promised that they'd have a 30 year retirement, it just happened that it worked out that way for some people. [/quote]

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