Congratulations to everyone out there who got to exist in the brief period of history when humanity had a thriving middle class!
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American workers say it will take $1.1 million on average to retire comfortably — but less than one in four figure they'll be able to save that much.
Just 22% of people approaching retirement age said they'll have enough money to maintain a comfortable standard of living, according to the 2022 Schroders US Retirement Survey, down from 26% a year ago. The survey of 1,000 workers was conducted in mid-February, when the S&P 500 Index was higher than it is now.
Yikes.
If you haven't been paying attention, here's what happened in the economy this week alone:
To be fair, this isn't entirely the fault of Joe Biden. There's also the totally incompetent Fed, Treasury Sec. Janet Yellen, the corrupt Swamp that keeps demanding more kickbacks and bailouts to their puppetmasters, and the massive financial institutions that overwhelmingly support leftists who will pretend to be for the union folks while actually making it easy to absorb the wealth of the middle class.
And on the other hand, you have a culture addicted to instant gratification and credit card debt.
That being said, Biden has done a bang up job of making our deepest fears come true.
"The list of concerns that retirees have, and that Americans in general have, are longer and they are more serious today," said Joel Schiffman, who oversees defined contribution products in North America for Schroders. "Inflation, the stock market, the cost of healthcare, taxes — there is this compounding effect."
For those already in retirement, a good chunk of people said they are comfortable, or described their situation as "not great, not bad." But 18% said they are struggling, and 5% said retirement is a nightmare.
Yeah, most retirees can't even afford gas right now, let alone anything else.
Biden's policies have directly accelerated inflation, caused market downturn with soaring interest rates, driven health costs through the roof (he was the VP during Obamacare, folks), and he wants to increase taxes.
Now look at what retirees are concerned about:
In true Orwellian fashion, our worst nightmare is titled "Build Back Better."
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