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This is scary

May 4th, 2007 at 02:14 pm

I was looking up a stock price and saw a question on that same cnn page. It was asking my age and my income.
Then I compared myself with the average american.
The average person my age only has a net worth of slightly over $200,000.
The average person with my income (really my husband's) only has a net worth of slightly over $100,000.
That means that most people entering their retirement years do not have nearly enough money to live on. I wonder what they will do? I sure could not live on $500 a month social security.

Posted in Uncategorized | 4 Comments »

4 Responses to “This is scary”

  1. Nic Says:
    May 4th, 2007 at 03:06 pm 1178291167
    1178291167

    Here in SW Utah, many of the retirees have jobs at the supermarkets,Walmart and fast food restaurants. You're right, living on $500.00 is no picnic.Frown

  2. Aleta Says:
    May 4th, 2007 at 03:50 pm 1178293826
    1178293826

    Better yet, the net worth includes the equity in their real estate.

  3. fairy74 Says:
    May 4th, 2007 at 05:00 pm 1178298036
    1178298036

    they wind up on food stamps, in section 8 or housing project housing and on medicare/medical. It is not a pretty picture...

  4. Broken Arrow Says:
    May 4th, 2007 at 06:08 pm 1178302135
    1178302135

    Scary indeed. I can't imagine, and I have no intentions of ending up like that.

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