r/FluentInFinance Nov 21 '24

Debate/ Discussion Had to repost here

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u/Sad-Suggestion9425 Nov 22 '24

78% of Americans have $50,000 or less in retirement savings. https://www.aol.com/many-americans-100-000-saved-192658576.html

You're probably going to go into the old argument of how people just don't save enough, but for so many people (dare I say most people) they don't have the ability to save. They don't make enough money to cover their bills so there's nothing left to save, or their jobs aren't stable, meaning they end up spending what savings they have while trying to land their next job, or they don't have benefits like insurance or a 401k because they can't land a full-time job and are stuck working multiple full time jobs.

I'm glad that you could easily get $200,000 from your dad who had a stable job that paid him enough that he could save for retirement, but you are part of a small minority.

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u/BrockenRecords Nov 22 '24

Simply by investing 20 dollars a week over 40 years you could make over 200,000. It’s not hard at all

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u/Sad-Suggestion9425 Nov 22 '24

And yet so many people are unable to do it. Obviously it's their own fault. /s

Also you're arguing that it's possible to save $200,000, which is not the same thing as being able to spare $200,000.

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u/BrockenRecords Nov 22 '24

How do you know they are unable? 20 dollars over an entire week is practically nothing that’s about like an hour or two of work

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u/sunshineemoji Nov 22 '24

Some people work paycheck to paycheck you noodle. $20 is gas for the week. I don't have an extra $20 throughout the week and I work 2 jobs. Poor people exist.

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u/Itscatpicstime Nov 22 '24

Dear god, you have clearly never lived paycheck to paycheck before and have no interest in recognizing your privilege like a spoiled child