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Study: Almost Half Of Americans Die With Less Than $10,000 In Assets « CBS: Do you save for retirement?

Daryl 2012/08/09 00:59:00
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CONNECTICUT.CBSLOCAL.COM reports:
Close to half of Americans die owning very little in financial assets, with senior citizens relying heavily on Social Security to help get them through their retirement years.

More than 46 percent of Americans find themselves with under $10,000 in financial assets by the time they die, according to a new study examining financial status among senior citizens.

die poor

Read More: http://connecticut.cbslocal.com/2012/08/08/study-a...

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Top Opinion

  • Daryl 2012/08/09 01:00:43
    Yes
    Daryl
    +5
    I live well within my means and I spend my own money. I am not a Democrat.

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  • Proggy 2012/08/10 06:56:52
    Yes
    Proggy
    I have an IRA, and if we can keep republicans out of power and control I'll have Social Security as well. But it's not that simple for everyone.

    vulture chart

    As long as this trend keeps up this will only get much worse.
  • Yo'Adrienne..AFCL 2012/08/09 23:28:38
    Yes
    Yo'Adrienne..AFCL
    +1
    It's difficlut for alot of people to just get thru the month.....on what they have to work with.....nevermind to have a 401k in the shadows.....But hopefully come Nov. we will change all that.!! Great post!
  • jackolantyrn356 2012/08/09 18:14:14
    Yes
    jackolantyrn356
    It is the MArxist System we have lived under these past 8o plus years. We have been forced to do this. The Democrats have always hated The older generation and have Death Paneled them off the Earth. just like thy will us. Make them pay. Elect some one else.
  • Proggy jackola... 2012/08/10 06:58:09
    Proggy
    +1
    You haven't been put back in your cage yet? Your handlers are just being downright negligent!
  • Atlas 2012/08/09 16:14:53
    Yes
    Atlas
    Live within means, debt free, aid free, in an area with absurdly high cost of living when compared to average earnings. But what is mine is mine.

    Would still be satisfied with croaking 10k in the green, though. Would suggest that my final days were well spent if I hadn't any need to tap into those assets.
  • Odinsown 2012/08/09 14:06:29
    Yes
    Odinsown
    I have a 401k with 1500 in it so far.
  • S. Gompers 2012/08/09 11:58:07
    Yes
    S. Gompers
    +1
    I was right on track until the Financial scandals of the first decade of this century. Fraud and theft are inherent in the U.S. financial system, and it's going to end in a disaster that relegates 2008 to footnotes.

    Consider pensions and 401(k) plans. They were massive buyers of mortgage-backed securities. So far, we've learned of 3 distinct crimes involving MBS sellers:

    1. They sold AAA-rated MBS knowing that the paper in the trusts was worthless (and, in the case of Goldman and Citi, actually shorted their own products);

    2. They sold packages of MBS that didn't have any promissory notes in them, that is, they sold mortgage-backed securities that weren't backed by any mortgages; and

    3. They sold the same promissory notes to multiple MBS trusts.

    No wonder the pension funds are underfunded--and that's by the funds' own admission. The reality is likely far worse than what they are reporting. Meanwhile the Financial sector is working on their next series of schemes and greasing both parties to remain unmolested in their ambitions.

    Meanwhile we must continue to blame the victims...
  • S* S. Gompers 2012/08/10 23:16:25
    S*
    +1
    nicely put.
  • S. Gompers S* 2012/08/11 03:43:30
    S. Gompers
    The system is ripe with fraud, and just last night the Department of Just-us decided to give Goldman Sachs a pass.
  • S* 2012/08/09 07:14:59
    Yes
    S*
    +1
    It is nice to feel smug here, but the stats say, if there is another person in the room with you, right now, one of you will die broke. That is why healthcare is so important, it is asset protection for your family and loved ones, the first to get sick depletes the coffers, and your family suffers. Keep fighting healthcare and it will only get worse.
  • Matt M 2012/08/09 04:40:49
    Yes
    Matt  M
    +1
    Doing fine.
  • JayLynx 2012/08/09 04:22:57
    Yes
    JayLynx
    +1
    I did. Now I'm retired.
  • mikeeonly 2012/08/09 04:13:38
    Yes
    mikeeonly
    try to anyway, it's a little tough right now
  • Any 2012/08/09 04:07:46
    Yes
    Any
    However, if I'm dying... I might as well spend it all. I plan to die with $0 left.
  • Any Any 2012/08/09 04:08:12
    Any
    If I avoid an untimely death, that is. In that case I might just die with millions in the bank -_-
  • Scott C 2012/08/09 03:39:38
    Yes
    Scott C
    +1
    I have a little nest egg set aside - not enough to get me through for ten years but enough for a little while anyway...thank you Guidestone Financial.
  • Linnster 2012/08/09 02:53:22
    Yes
    Linnster
    +1
    Yes, I've spent the better part of the past 20+ years saving towards retirement.
  • ruru 2012/08/09 02:37:48
    No
    ruru
    +1
    There is nothing to save. Actually I go in the hole $400.00 - $500.00 a month since my husband is in a nursing home. It pays to buy long term care insurance when you are young.
  • betz 2012/08/09 02:16:24
    Yes
    betz
    +1
    $10,000.00?? I believe you but find that very hard to believe. Wow! My husband and I have invested and saved since day one. Why the heck are some people so irresponsible? Oh yeah they're just banking on that great big fat Social Security to check.
  • S* betz 2012/08/10 22:43:09
    S*
    It does not say they did not save more, it says they died with 10K. Just do not get sick.
  • betz S* 2012/08/11 10:31:07
    betz
    Things should improve with this new inane health care bill. Yeah right.
  • sammanilla 2012/08/09 02:09:02
    Yes
    sammanilla
    +1
    It's damn near impossible to keep ahead of all the legislated robberies.
  • Kat ♪.BTO-t-BCRA-F~PWCM~ 2012/08/09 01:43:46
    Yes
    Kat ♪.BTO-t-BCRA-F~PWCM~
    +1
    For what good it'll be with the rate of inflation.
  • zlazyks 2012/08/09 01:32:24
    Yes
    zlazyks
    +2
    I save for my daughters college, our retirement, and slow winter months at the shop.

    I find this statistic interesting considering I have seen another CBS stat that said 40% of Americans take government handouts.
  • S* zlazyks 2012/08/10 22:37:26
    S*
    hope you do not get sick then.
  • zlazyks S* 2012/08/10 22:44:45
    zlazyks
    why?
  • S* zlazyks 2012/08/10 22:53:20 (edited)
    S*
    that is what wipes families out, paying hospital bills.

    http://www.foxbusiness.com/pe...
  • zlazyks S* 2012/08/11 00:13:23
    zlazyks
    We are fully insured. I have insurance on top of insurance. I make sure that if (god forbid) something should ever happen to one of us we will be covered. Yes it costs more annually but I think worth every penny. Wouldn't you agree?
  • Nam Era Vet #1 DNA TLC 2012/08/09 01:30:19
    No
    Nam Era Vet #1 DNA TLC
    +3
    Nope it all went down the tubes when I got sick for doctors, hospitals, etc..
    Then the wife got leukemia. And even with insurance we are way behind.
  • Kat ♪.B... Nam Era... 2012/08/09 01:44:39
  • Nam Era... Kat ♪.B... 2012/08/09 02:02:59 (edited)
    Nam Era Vet #1 DNA TLC
    +2
    I am humbly grateful. All prayers are accepted.
    humbly grateful prayers accepted
  • Jackie G - Poker Playing Pa... 2012/08/09 01:20:49
    Yes
    Jackie G - Poker Playing Patriot
    +3
    Yes I do
  • Raithere 2012/08/09 01:20:27
    Yes
    Raithere
    +2
    As if I would rely on Social Security... not a chance.
  • Nilam 2012/08/09 01:06:53
    No
    Nilam
    +1
    there is no retirement for the future of my generation.
  • James 2012/08/09 01:04:32
    Yes
    James
    +2
    However I wouldn't if I didn't have adequate employment.
  • Ken 2012/08/09 01:03:41
    Yes
    Ken
    +2
    The statement is not surprising.
  • Daryl 2012/08/09 01:00:43
    Yes
    Daryl
    +5
    I live well within my means and I spend my own money. I am not a Democrat.
  • Matt M Daryl 2012/08/09 04:40:17
    Matt  M
    +1
    Yeah, the second sentence wasn't really necessary, was it?
  • S* Matt M 2012/08/10 22:36:41
    S*
    thank you.

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