Re:Dozens of Companies Are Using Facebook to Exclude Older W...
by bluGill on Friday December 22, 2017 @10:43AM
(#15988216)
There are a few people. Not very many. Most people in their 50s have very little savings - http://www.rothira.com/average-retirement-savings-age-2017 has a nice breakdown - baby boomers average could live at most 6 years on their retirement savings - assuming the eat rice and beans...
My dad was in fact laid off at 50. Everybody knew he was very careful to save a lot of money, so they always said "but you must have enough money saved away to retire by now". His response was always "yes, but I don't have enough money to get to retirement". In the 15 years between 50 and 65 his money is expected to double twice which makes a big difference to his retirement income. If he had started drawing at 50 would have much less money to work with. He needed a job to pay bills.
My dad was in fact laid off at 50. Everybody knew he was very careful to save a lot of money, so they always said "but you must have enough money saved away to retire by now". His response was always "yes, but I don't have enough money to get to retirement". In the 15 years between 50 and 65 his money is expected to double twice which makes a big difference to his retirement income. If he had started drawing at 50 would have much less money to work with. He needed a job to pay bills.