A Boring Dystopia

9789 readers

359 users here now

Pictures, Videos, Articles showing just how boring it is to live in a dystopic society, or with signs of a dystopic society.

Rules (Subject to Change)

--Be a Decent Human Being

--Posting news articles: include the source name and exact title from article in your post title

--If a picture is just a screenshot of an article, link the article

--If a video's content isn't clear from title, write a short summary so people know what it's about.

--Posts must have something to do with the topic

--Zero tolerance for Racism/Sexism/Ableism/etc.

--No NSFW content

--Abide by the rules of lemmy.world

founded 1 year ago

MODERATORS

givesomefucks

Why many American seniors are forced to work in retirement (www.cbsnews.com)

submitted 3 months ago by return2ozma to c/aboringdystopia

1 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] Upsidedownturtle 12 points 3 months ago

If they're still working full time, then it isn't retirement. Retirement is an economic situation, not an age.

It's not that surprising when you look at the numbers. Average retirement savings accounts for those on their 60s is around 600k, but median is around 200k. Meaning some people are doing really well, but most won't have much. Average retirement age is low 60s, and average lifespan for a60 year old is about 20 years. A 4% withdrawal for the average retirement account and roughly 2k per month SS check is about 50k per year before taxes. Not great but you can survive on that, but then look at the median and this drops to a bit over 30k. That would be tough, especially if you don't own your home or have major expenses like Healthcare.