- Nearly half of Americans have less than $10,000 stashed away for retirement, according to a report by GoBankingRates.
- For them, a serious lack of planning coupled with a longer life expectancy has destroyed any retirement dreams.
At this rate, retirement is more of a fantasy than a reality for many people in this country.
About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday.
That’s $913,332 per year. Literally just under a million dollars.
That’s insane and stupid.
For example, the pension for Mike Bellotti, the University of Oregon’s head football coach from 1995-2008, includes not just his salary but also money from licensing deals and endorsements that the Ducks’ athletic program generated. Bellotti’s pension is more than $46,000 a month.
That’s $552,000 a year, half a million. For a football coach. Literally stupid.
I know a retired librarian in my state who worked for 15 years and got her pension. She’s getting $12,000.
Everyone should have a reasonable pension, so nobody has stupidly large pensions while others go hungry.