The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Don't Show This To A Baby Boomer||Date: 1/19/2013 9:53 AM|
|Author: 2828||Number: 667211 of 778280|
10. Right now, there are somewhere around 40 million senior citizens in the United States. By 2050 that number is projected to skyrocket to 89 million.
9. 25 percent of all Americans in the 46 to 64-year-old age bracket have no retirement savings at all.
8. 46 percent of them have less than $10,000 saved for retirement.
7. Elderly Americans tend to carry much higher balances on their credit cards than younger Americans do.
6. Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States.
5. In 1945, there were 42 workers for every retiree receiving Social Security benefits. Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.
4. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
3. Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
2. State and local government bodies in the state of California have 325 billion dollars in combined unfunded pension liabilities.
1. The total amount of unfunded pension and healthcare obligations for retirees that state and local governments across the United States have accumulated is 4.4 trillion dollars.
Number 5 was the big one for me, besides the unfunded liabilities. Ponzi isn't just a character from Happy Days people.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|