Nothing adds up‼️
Holiday spending hit record highs, many people save their stimulus checks, the stock market ran with the bulls in 2021.
True, many people were hurt and are hurting badly in 2021, but many more are not.
Not saving and planning for retirement is not a 2020 pandemic phenomenon, that’s merely a convenient excuse. It has more to do with ongoing spending and related lifestyles.
Planning for retirement is a forty-year process involving good times and bad.
But in all seriousness, it’s not hard to see why there’s so much “darkness” out there. The percentage of workers living paycheck to paycheck stands at 37%, according to a recent survey from Willis Towers Watson. Nearly a quarter of respondents said their finances have worsened over the prior six months, and 37% admit not being able to pay bills.
It’s not just the youngers who are stressing about all the uncertainty that lies ahead. Among workers ages 50 and older, 25% said they now expect to retire later than planned, with 35% expecting to retire at 70 or older. No wonder the likes of salamdereere are thinking outside the box. “My saving strategy: ‘If I buy this item, will it hold enough value to barter during the water wars, fallout, economic collapse, solar flair…etc?’” he wrote.