17 Nov 2023 2:19 pm
Well yes, something is better than nothing. A net worth of $200k is more than likely spread out over multiple assets, not always easy to convert to cash. Ten years is a stretch and hope like hell life doesn't bite you in the ***.Skans » 17 Nov 2023, 1:18 pm » wrote: ↑ If you have a net worth of 200k, at least you are not in the hole. 200K can buy you about 10 years of getting by.
IF people were as rich as some believe across the board, social security checks would be much larger but they are pretty darn small. The average at 62 is $1250/mo., average at 70 is $1970/ mo.. I have never seen a median number to go along with the average on SS.
It may look different from your point of view point but I see 80% of households are not in a very good financial position.