LogFAQs > #977100313

This worries me a lot. My mom got lucky that she was allowed residence in a federal housing place for elderly, but it was a lottery getting in. But now she can make do with SS alone. If you dont have retirement savings then gotta try to have a paid residence...which is also becoming next to impossible.

Then theres us. Pensions wont exist. Fully reliant on SS and 401ks+ investments, but thats only for the people with good income and low liabilities. My dad had a good job while we were growing up, but never put money aside for 401k cause "he needed every last cent" since we were 3 kids, private schools, stay at home mom..etc. He probably wouldve had millions in 401k since were talking late 80's to current.

So the average person will more than likely have to keep working. Also, SS cuts are expected at some point due to fund running out.