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Millions of Americans nearing retirement without savings

CBS Evening News 566 views

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I made career out of first job, 335 an hour in 1976 Dropped out of college but blessed with knowledge I worked my way up the ladder, one step at a time Put money in 401K and retired 36 years comfortably
Comment from : @judyhowell7075

If O'Connor adopted and raised three children as a single mom, one would assume that these children (out of gratitude for a good life with love) would take care of their mother This does not seem to be the case, or?
Comment from : @Jan-m5c2r

You gotta start young as soon as you start working The younger you had to take care of the older you
Comment from : @donaldmcgee6334

Well, the last third of boomers are retiring and the first third and second third haven't hit bottom so maybe it is not as bad as everyone thinks I'll keep watching though
Comment from : @slydogger

I won’t be rich but I’ll have enough for two checks a month and a large vacation every two years
Comment from : @Djd271

401k's are a scam Put your money in a CD
Comment from : @july77773

At some point, everyone has an unexpected set back That is life Number one goal is to take your lifestyle and health more seriously Becoming fat or inactive puts you into a downward spiral that is difficult to recover from Additionally, a failure to have a basic understanding of the value of money over time and the discipline to avoid the American consumption disease and live within your means, results in failure when it matters most, later in life If you don't save something, albeit small, every year of your working life, you'll not make it to the finish line with enough money to live a comfortable retirement
Comment from : @jayf6525

If your company doesn’t offer a 401k or pension, you weren’t “helpless” all those years of your career Open an IRA and invest on your own! Don’t play the victim and expect the government to come fix it for you
Comment from : @SkyroofNova72

And your government put $500,000,000,000 into Ukraine Hope you're happy
Comment from : @startracksha

I anticipate positive growth in the markets for 2025, and I'm considering investing $220k in stocks for my retirement plan due to recent rate cuts Could you provide guidance on executing this investment safely? Additionally, are there any crucial tips or changes I should be mindful of in the current financial landscape?
Comment from : @SophiaSchmidt-w4w

BOOMERS - When I was 19, I had my own house, kids and a car NOW I WILL GO TO CHURCH
Comment from : @johnarthur620

If these boomers had invested just a small amount per month in their youth they would have over a million right now While I do feel bad for some and their circumstances, most simply did not save and it’s their own fault
Comment from : @BrandonB99999

I have a live for now philosophybrbrit shows it really does show
Comment from : @DarkDelta-cw8xd

maybe if she took care of a husband, loke she took care of 3 kids she would have something saved up
Comment from : @DarkDelta-cw8xd

I want a detailed breakdown of these people's spending habits over the last 40 years
Comment from : @harrisonwintergreen1147

The cost of goods and services tends to rise over time Inflation can erode the purchasing power of your retirement savings, making it harder to maintain your lifestyle
Comment from : @ElizabethW-g9p

No they arent near retirement they still need to keep working poor planning has consequences
Comment from : @jasondeaver2117

Retirement is now more difficult than it was in the past I've been saving for a long time instead of investing, and right now I only have about $400K considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies
Comment from : @KimberlyVerville

You’re absolutely right—it feels like the traditional idea of retirement is slipping away for many people in the US I actually had this discussion with friends yesterday, and we all agreed that the days when pensions provided security and people could comfortably retire in their hometowns are largely behind us The rising cost of living, stagnant wages, and a lack of affordable housing have made it increasingly difficult to save enough for retirement For those living in high-cost areas like Washington, DC, retiring there is out of reach without significant financial resources
Comment from : @viviancarolgioao

Im terrified and don't know what im gonna do
Comment from : @tomsimpson5317

What the heck will she do when it is nursing home time?
Comment from : @Happinessisachoice2023

Hello, 11 years ago my grandmother inherited apartments that I rent today, I live a very quiet life and decided not to have children
Comment from : @irvingalasraki9208

She’s fortunate and blessed to have employment and to have sold, downsized her house and rented to a tenant…very wise Best bet is to educate and plan for your future self 🌟
Comment from : @mmp495

Sorry to hear this I feel social security has done one bad thing to societyit has caused millions to not save They thought the govt would take care of them And when SSI goes broke it is going to be hell to pay for many of these ppl
Comment from : @mrg1758

absolutely It’s a huge issue I think a lot of people assume Social Security will be enough, but with the way things are going, I’m not sure it’ll cover even the basics I’ve got some savings, but it’s not nearly enough to last 20 or 30 years in retirement
Comment from : @Vstones

What is the whole point of this article? That this woman could have saved but chose not to?
Comment from : @AtomicB-zq2cw

With dumpy in power, don't delay obtaining SSI or you may not see anything
Comment from : @terilow3959

Grumbling and Grumbling are filing bankruptcy 99percent of thy entirely new world 🌎 captain obviously rent and Stimpy cartoons classic
Comment from : @paulsaragosa371

All women's are lucky family members and friends
Comment from : @paulsaragosa371

Sublime cues to frighten people to work until they die or right before they collect their first pension check
Comment from : @1p4142136

Play song pretty little angel eyes 👀 okay 🐼
Comment from : @paulsaragosa371

This is sad and disgusting, I never thought I would grow up in an America like today When we retire we will be moving to another affordable country, and there are a few good ones to choose from out there
Comment from : @sigma_X_infj

Most Americans find it hard to retire comfortably amid economy downtrend Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Comment from : @Peterl4290

If you are In decent health and have a nice size nest egg consider retiring abroad SE Asia is cheap and has a good quality of life
Comment from : @kamfire98

Poor planning
Comment from : @johnp139

This story could run now, 50 years earlier or 80 years in the future There will ALWAYS be broke people, rich people and lots of people just barely getting by People make bad decisions, always have That woman adopts 3 kids as a single parent? Admits to having a "live for now" philosophy? We'll there ya go!
Comment from : @kendallevans4079

The 1ers have half the wealth, THATS why everyone is broke Trickledown economics was a virus that killed the host
Comment from : @FourthWayRanch

Yup and they take young people's jobs when they should be retiredbrGreat system
Comment from : @FourthWayRanch

Single mom still expecting a man to come save her 😂😂😂
Comment from : @battles423

Maybe these women shouldn’t have divorced their husbands and taken half the 401k contributions out of the stock market
Comment from : @battles423

60, retiring in 5ys, I’m slamming as much as I can each month living as a minimalist I started saving at 30y I’m so glad I did!
Comment from : @JaviAlexCortez

Putting half of my Salary into my portfolio at the start of each month has always been my approach since nearing retirement My second approach is to hold off on selling for at least five years, but as of late, my portfolio has seen a significant fall with losses of around $65k, Please what can i do?
Comment from : @MaximilianFischer497

No money Next sentence, "touring the World" People make enough money, they just want to spend it instead of save it bc saving is not fun or exciting The flip side is working until death Self inflicted
Comment from : @Batchpig

She is just like my wife, no savings and travels the world as her number one goal in life, spending it all in jet fuel I can relate, it's an addiction
Comment from : @kriskringle3164

Im 57 and owe roughly $200k on my home thats currently valued @ $850-$900k my interest rate is 275 I could easily pay off my home in 2-3 years but it seem like such cheap money, wouldn't it be better to invest the difference?
Comment from : @ashdobbs

There needs to be more vids like this! ❤❤❤
Comment from : @Teisharocz

Many people are finding retirement more challenging Low incomes, inflation, and expensive rents make saving nearly impossible Even middle-class Americans are having trouble buying homes, leaving them unprepared for retirement
Comment from : @SimonFrers-d9t

It is too bad the government 36T and counting in debt These people are on their own
Comment from : @jeffreylindley845

If ur employer doesn’t have a 401k, u can still set up ur own retirement plan
Comment from : @michellekenney3661

This all started when the gov allowed employers to do away with traditional retirement as part of your benefit package and switch over to 401k It almost cost employers nothing is the reason
Comment from : @scottpieper7888

Sad and pathetic
Comment from : @Anthony-dj4nd

Trump is only going to make things worse Good job America
Comment from : @JB-pl1iu

Welcome to the age of executive extremism, in which the executives take the largest share of company profits to themselves, and throw survival crumbs to the employees
Comment from : @craigenputtock

A Live For Now "strategy" is not a valid retirement plansorry but she has nobody to blame butherself
Comment from : @bobmcmahon1920

We have now come to realize that human survival does require TWO things: health and money Back in the mid-1900's, people used to worry about making it to a certain age being healthy Advances in medicine has increased our longevity chances of surviving into our 80's and 90's Our ability to fund our survival into this age group unfortunately has not kept pace It really is very difficult to imagine this let alone financially plan for it Shoot, we have a difficult time imagining just five years into our future
Comment from : @thejils1669

Women fought for equality Well, this is what it looks like Congratulations, you played yourself!!
Comment from : @CedSaidIt

What is wrong with people? If you fail to plan, you are planning to fail I don't feel sorry for these people at all 😐
Comment from : @greggornduff2769

That is an oxymoron, one cannot be nearing Retirment without savings Retirment is a number, not an age Some can retire at 40, others 85, some never
Comment from : @t206kid

Terrifying
Comment from : @user-rs2zh8gy4x

New title idea: "Millions of Americans are Irresponsible"
Comment from : @joshuaperry4112

America is brokenbrDeath is my retirement It's a scam
Comment from : @rodneyadderton1077

My father died four years ago, and I've taken over 3 of yrs off to care for my mother, and I'm just now starting social security? My savings and 401 are gone!!
Comment from : @davidbradley3735

The person to blame is the person in the mirror She admits she lives for now and raised kids that could care less of her sunset years If only she raised kids that would help her when she got older
Comment from : @fialee8ca132

Lol Having an employer offer a 401k plan is nothing Anyone can go open up a 401k account with a click of a mouse It's whether or not they contribute to the retirement plan
Comment from : @mikedevo363

a disgrace employers should give her a pension
Comment from : @echoecho5244

Part of her problem is she thinks and acts like an old person
Comment from : @Breezeyogi

I live in Thailand I live in an older condo in Pattaya (a 5-minute scooter ride to the beach) It is all concrete, so the rooms are quiet (I have a video of the condo) I am on the ninth floor, so the sunsets are great, and I do not have much trouble with mosquitoes or road noise We have a large pool with a slide There is a restaurant by the pool; most meals are 3-7 dollars My rent is $207/month I have a new wall unit A/C, that I run 24/7 and my electric bill is $30/month My room is 270 square feet or 30 square meters It has plenty of room for a single guy I have no plans to move back to the States
Comment from : @thailandmalcolm

Voting for Trump just made the situation much worse Bye bye social security
Comment from : @theviking2877

Vote biden
Comment from : @richardpancham7556

5$-8$ cereal boxes chips preserved junk
Comment from : @Demonstrait

Bidenflation is a large yet unreported component of these stories, for people who actually had saved adequately for retirement I wonder why
Comment from : @willelliott5052

Another person that explains the importance of owning bitcoin is Andreas Antonopoulos Do not trust the US Government !!!! They do not give a sh!t about you If you want to live and survive you need to have bitcoin and in self custody!
Comment from : @fazotakeiteasy

I was a young and dumb kinda party guy and at 19 got a factory job just to make money, Well I stayed there 36 and retired early (55) all because they had a Profit Sharing Plan that was unreal, I owe everything to that company
Comment from : @tara607

in Italy its the same
Comment from : @micheladerry5681

Karma 😂
Comment from : @DolfSmitler

You wanted capitalism and neoliberal economics ?? This is nothing in comparison with what is going to come
Comment from : @Max88-xl2si

What a shock , the White House has been telling me it’s a great economy The stock market is through the ceiling
Comment from : @thomasmacon6661

Why she adopt 3 kids??
Comment from : @culis8844

Think the amount of homeless is bad now? Just imagine what it will be in 10/20 years
Comment from : @deirdre108

The concept of mini-retirement changed my life I'm no longer waiting for some retirement paradise when I'm 65 It helps to know how to fund the lifestyle You know, making money while you sip that piña colada by the beach does help I wouldn't have been able to do it otherwise
Comment from : @CliveBirse