Nearly half of Americans are at risk of retiring broke… states and cities are going broke too

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42% of Americans are at risk of retiring broke

  • 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.

His pension is $76,000 – a month. Why states and cities are going broke.

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.

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I know a retired librarian in my state who worked for 15 years and got her pension. She’s getting $12,000.

A year.

That’s it.

Everyone should have a reasonable pension, so nobody has stupidly large pensions while others go hungry.

 

AC

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