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Philosopher_King t1_ja69fdm wrote

What does "comfortable" mean? They say 700k for US, yet the actual median retirement is, what, ~100k? (from what I could find with some quick searching). That's a lot of "uncomfortable" people.

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Whalesongsblow t1_ja69yen wrote

Most Americans retire in a pretty bad position. Almost half of the US middle class will be in poverty at some point during their retirement. Go to your local Walmart and take note of the 70 and 80 year olds working there.

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NotMyPrerogative t1_ja76eqi wrote

It makes me so dang sad everytime I see an elder working at walmart.

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kungpaocheese t1_ja7i0uw wrote

You're paying their social security.

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TaliesinMerlin t1_ja87iu4 wrote

By the same logic, they paid someone else's social security. I'm not sure why that point is relevant here.

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[deleted] t1_ja7lg5w wrote

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[deleted] t1_ja7tia3 wrote

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lucky_ducker t1_ja80zi5 wrote

Social Security has been taxing wages, and paying out benefits, since 1937. I entered the workforce in 1977 and have been paying into SS my entire work life.

Pretty much anyone born after 1919 has been paying SS taxes their whole work life.

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appendixgallop t1_ja6ds8z wrote

That's explained in the Methodology section. This is a decent article and it's important financial planning for everyone. Note that he's talking about retiring fairly early, and as a single person - there are financial consequences for both factors.

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