Author Topic: Winning the lottery as an element of their retirement strategy  (Read 1838 times)

RecoveringCarClown

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Winning the lottery as an element of their retirement strategy
« on: December 02, 2015, 12:45:57 PM »
This cracked me up...

Quote
Then again, only 29 percent of millennials are actually planning for retirement, the IRI survey found, and 15 percent listed winning the lottery as an element of their retirement strategy.

Full article:
http://www.cnbc.com/2015/12/02/the-retirement-generation-gap.html


Orvell

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Re: Winning the lottery as an element of their retirement strategy
« Reply #1 on: December 02, 2015, 12:56:38 PM »
HMM.
The article is mostly confused....
It also said:

Quote
Millennials also demonstrated a skewed perception of the cost of living in retirement. Some 70 percent thought they would spend less than $36,000 per year, but according to the Bureau of Labor Statistics, annual spending by people aged 65 to 74 in 2013 averaged $46,757.

The millennial generation "is largely not on track to attain financial security in retirement," the IRI researchers concluded.

and,

Quote
Millennials, by contrast, appear to be doing more to prepare for retirement. Some 68 percent are currently saving for retirement, according to a recent study by the Insured Retirement Institute and the Center for Generational Kinetics. That is an improvement on the 64 percent of workers aged 50 or older who told the Transamerica Center surveyors they were doing so.

What I got from it was that young folk don't anticipate spending as much as their boomer parents, are horribly worried, and are trying to save but don't really know how to actually do the thing effectively.