50% Americans, <$10k retirement

[Potemkin]

Half of Americans have less than 10K saved for retirement. Those who have more will no doubt be asked to share their pie. (From Fark)

When I am old I am going to remind my peers who are eating dog food about their McMansion, their trips to the islands and Disney World, and their sports cars.

http://money.cnn.com/2010/03/09/pf/retirement_confidence/index.htm

[Ought Six]

I know my retirement account is seriously deficient. I am looking at ways to earn more income, because it is clear to me that if ever want to retire, savings alone from my present job is just not going to do it.

[flourbug]

When I am old I am going to remind my peers who are eating dog food about their McMansion, their trips to the islands and Disney World, and their sports cars.

When inflation makes your savings worthless, when the government taxes the gold and assets out of your hands, when your 401k and pension plans are 'owned' by the government and doled out instead of and before social security, your peers who are getting the SAME amount may be reminding YOU about their McMansion, their trips to the islands and Disney World, and their sports cars - and laughing at what a fool you were to give up all the goodies and save, when in the end, you're all in the same boat.

[BirdGuano]

This is also going to create a HUGE spike in wage deflation down the road, as everybody scrambles for under-the-table jobs to escape hyper taxation and to eat.

[Bri2301]

27% have less than $1,000.00.

That number is frightening, re-enforcing what has been said about, "sharing" and massive numbers of folks (starting with the currently unemployed and soon to be unemployed) who refuse to accept living on the dole as their future. New skills will be learned, old skills will be put to new use. All to avoid the drag and drain of the tax man. If/when retirement accounts bite the big one, it'll be interesting to see the number of "disgruntled" citizens who vent their frustrations in various ways on any number of government agencies.

$1,000.00? One could easily have that much silver bullion on hand simply by purchasing 5 or 6 ounces here and there... the figure just boggles my mind. Like 06, I feel significantly underfunded, but when I read about the supposed majority of the population, I feel like I'm a bit extreme (Nah...). Still, when do these folks feel like it is time to begin to start their retirement savings?

Jeff B.