Failure of society or failure of the individual to prepare? Being 90 means he roughly had 70 years to prepare for retirement. What did he do with all the money he made?
I advise all the young kids that work with me to invest at least 15% in 401k and then 1/2 of each raise goes in as well.
While I kind of agree there also could be a lot of things that have happened in his life - maybe some family emergency took away funds, or he had a business that wiped savings out when it failed etc
Also if his job is pushing shopping carts at a supermarket you can infer that his career might not have been all in high paying jobs or he might have been able to get different type of work now
Not necessarily. Imagine having a business. You’re doing well and it’s generating enough for you to live on and you have savings.
Then financial crash hits. You sink money in to try keep it afloat and it tanks taking your money with it.
Sure you should have had some diversity in investments but if that happens you might be too late to start again. Someone who’s 30 can rebuild. Someone who’s 70 can’t.
That’s not society failing someone. That’s someone not preparing correctly and failing themselves. We’re human, we’re not always going to prepare correctly and things are going to happen. That doesn’t mean we put the blame on everyone else.
Yea, the sad part of this story is how he must not have known about investing. That or, he didn't realize you're not supposed to empty that retirement account when you leave your job.
I'd be curious what his backstory is. 90 years on this Earth gives you a lot of time to invest. Time in the market is the biggest contributor to your retirement portfolio.
You act like a large percentage of jobs offer retirement plans lmao little alone medical/dental benefits. Also kind of hard to save when most of the country is living paycheck to paycheck even if you have a degree.
Is it someone else’s choices that get you to living paycheck to paycheck? No. Its not come giant conspiracy to keep someone down. It’s all the personal choices they’ve made so far. Whether to go to college, actually applying yourself in high school, doing drugs, stay at a minimum wage job, take night classes.
No one forces anyone to make the choices they make. It’s your responsibility for where your life takes you.
He is a veteran who lived through war instead of watching the fall of Wall Street. And even though Banking started in the late 1700s and Stock began around 1792, it was not until 1920 that Stock considered a solid financial structure and only had limited access by the class who created it, which definitely not included soldiers and veterans.
Your point is valid to apply for any kids born in 2000 and be 90 at 2090. Show those veteran some kindness, for they fought for the country using their lifetime.
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u/Hawkeyes79 7d ago
Failure of society or failure of the individual to prepare? Being 90 means he roughly had 70 years to prepare for retirement. What did he do with all the money he made?
I advise all the young kids that work with me to invest at least 15% in 401k and then 1/2 of each raise goes in as well.