Summary
Faced with inflation, taxes and concerns over the size of Social Security benefits, most Americans are more afraid of going broke in retirement than they are of death.
In total, 64% of respondents across generations said they are more stressed about running out of funds in their golden years than the prospect of death.
Americans say they need $1.26 million to finance a comfortable retirement, yet the median amount saved is $87,000. “Certainly for boomers…inflation is a big deal.”
That’s the thing that scares them—they don’t want to suffer before they die. Being poor is suffering to them and they know most don’t help the poor because they are part of the “most”.
In this country, being poor is or leads to suffering. That is a hard rule that applies to all, not just “them”. It is how the system keeps us rats on the treadmill.
You’re correct, but I am addressing those that are American and not yet poor and why they are afraid of losing their retirement wealth over dying. I’m not talking about being poor itself and what it means.