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In reply to the discussion: Half of Older Americans Have Nothing in Retirement Savings [View all]at140
(6,110 posts)14. The condo I bought for $159k in 2011 is now going for
$315k. The gall bladder surgery I had in 1990 now costs 300% more. My property tax has climbed much higher than my social security increases. My health insurance went from $89/month in 1998 to $385/month. Milk and gasoline are small expenses for seniors. We do not drive much and do not drink lot of milk. Only reason oil prices are down is because of gains in supply due to fracking. That will come to an end when that supply of oil dwindles. There are finite amounts of oil in the ground.
You are pointing to small expense items and overlooking big expense items.
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I won't ever sink into poverty either, but it bothers me that other senior women will.
llmart
Mar 2019
#30
My husband just retired as a ff at the end of January. He is 62. He also doesn't get anywhere
seaglass
Mar 2019
#83
No sick payout, that was eliminated about 20 years ago I think. The only vacation pay he got was
seaglass
Mar 2019
#89
Well it does depend on the plan, how much you made and how many years you accrued
UniteFightBack
Mar 2019
#88
Your mother in law appears to have lucked out, but with the direction government has been going
pnwmom
Mar 2019
#6
Yep, boomers don't realize how lucky they are and how fucked the younger generation is
ansible
Mar 2019
#7
We can and should fix social security for younger people by a combination of raising the cap
pnwmom
Mar 2019
#11
You bought your condo during the real estate crash of 2008-2012 and millions of foreclosures.
riverine
Mar 2019
#18
Congress gave the Federal Reserve just two mandates - Employment and Price Stability.
riverine
Mar 2019
#24
"those of us who saved our pennies, have seen the value of our savings dwindle at a fast clip"
brooklynite
Mar 2019
#56
I got a little to supplement social security and the house paid for, but it was tough...
PeeJ52
Mar 2019
#23
Many people don't know this but just because a company matches your contribution...
llmart
Mar 2019
#29
That's what I argued against when our union was voting on switching from pension to 401(k)...
PeeJ52
Mar 2019
#42
We've been self-employed much of our working lives, so our retirement plan is keep working.
Vinca
Mar 2019
#37
This has all been known for years. I've said for a long time schools need to teach basic finance....
machoneman
Mar 2019
#41
Got to stay as healthy as possible and plan on working till death do you
democratisphere
Mar 2019
#52
what about traditional savings accounts, equity in homes, savings other than 401K?
Demovictory9
Mar 2019
#92