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More than one-third of millennials believe they won’t get a dime of Social Security when they retire, so they’re taking matters into their own hands (creditnews.com)

submitted 1 year ago by RealWarrenBuffett@lemm.ee to c/world@lemmy.world

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Of all generational cohorts, older millennials are most likely to generate enough income to retire comfortably, according to the latest Vanguard Retirement Readiness report.

Specifically, millennials aged 37-41 have the greatest chance of landing a comfortable retirement.

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[-] BirdyBoogleBop@lemmy.dbzer0.com 9 points 1 year ago

Does it count if my retirement plan is a van? Because. It's more than likely going to be a coffin appartment or a van with ways are going and I have one of the good pensions

[-] whoisearth@lemmy.ca 5 points 1 year ago

I have an autistic kid who's 11 and not self sufficient. My retirement plan is to work until I'm dead.

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[-] SuiXi3D@kbin.social 6 points 1 year ago

I had to pull every dime out of my 401k (only about $2.5k) just to afford to move to a cheaper apartment. I’m 36. There’s no way I’m gonna be able to retire.

[-] samus12345@lemmy.world 5 points 1 year ago

This sounds like the solution is to make sure their boomer parents have accidents.

[-] DesertMagma@lemmy.world 5 points 1 year ago* (last edited 1 year ago)

The social security insolvency boogie man gets dragged out to scare everyone at least once a generation. It really is a persistent feature of how our nation is managed.

Remembering The Circle Jerks "Shit hits the fan" from early 1980's.

[-] shectabeni@sh.itjust.works 5 points 1 year ago

Millennial here and I have a few family members that rely on SSDI so I just like that my contributions support them. I'll figure things out myself for retirement. But an estimated 7.8 million people rely on SSDI and taking that away from them could very well be death sentences. We have to do better.

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this post was submitted on 06 Oct 2023

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