There is a point where discussions and being able to talk about budgeting and finances when it comes to "saving" for retirement, is a luxury.
IE:
Dad: working 2-3 blue collar jobs, trades and labor. 12-16 hour days. Sleeps in the truck between shifts. Employment week to week and month to month is not assured.
Mom: working 1-2 blue collar to labor jobs, waitress, hotel housekeeping, CCRC and care home aid, etc.
Children: "new" school clothes and "toys" from the Goodwill Thrift Store and Savers. Low income qualifies for the "free school lunch program".
Meals: Pasta and melted butter, turkey helper, tofu scrambler, etc.
Sometimes there is enough money left over in a week, after paying rent, to fix the truck.
The refrigerator is empty.
There is a large demograph in the "greater part of the bell curve" (most/many people) that are; at, below, or not much better financially than this example. For them, there is often no "employee match", salary vs hourly, nor guaranteed 40 hour 5 day workweek with 2 days off and 2 weeks paid vacation per year, sick leave, et al.
They are "surviving" as "klangfool" put it.
Saving for "retirement" in any amount...is moot.
This is one perspective that's changes the context of "saving for retirement".
j
dis laimer: zillions of ways to things and experiences and onions. This is only one to be helpful.
IE:
Dad: working 2-3 blue collar jobs, trades and labor. 12-16 hour days. Sleeps in the truck between shifts. Employment week to week and month to month is not assured.
Mom: working 1-2 blue collar to labor jobs, waitress, hotel housekeeping, CCRC and care home aid, etc.
Children: "new" school clothes and "toys" from the Goodwill Thrift Store and Savers. Low income qualifies for the "free school lunch program".
Meals: Pasta and melted butter, turkey helper, tofu scrambler, etc.
Sometimes there is enough money left over in a week, after paying rent, to fix the truck.
The refrigerator is empty.
There is a large demograph in the "greater part of the bell curve" (most/many people) that are; at, below, or not much better financially than this example. For them, there is often no "employee match", salary vs hourly, nor guaranteed 40 hour 5 day workweek with 2 days off and 2 weeks paid vacation per year, sick leave, et al.
They are "surviving" as "klangfool" put it.
Saving for "retirement" in any amount...is moot.
This is one perspective that's changes the context of "saving for retirement".
j
dis laimer: zillions of ways to things and experiences and onions. This is only one to be helpful.
Statistics: Posted by Sandtrap — Tue Jul 23, 2024 10:57 am — Replies 11 — Views 648