cross-posted from: https://lemmy.world/post/52502297
Unfortunately, the gap between what people make, what people need to survive on ramen noodles and a closet for living in, and what people need to be able to save up for retirement, not just now, but when they are ready for retirement when inflation has vastly devalued their savings, is a very big gap. Only the most successful and lucky individuals get to retire at a reasonable age. The rest are work until they die poor. This was not true for many of the oldest generation, who had more buying power out of the money they made, but true for almost everyone that's first entered the workforce after the 1990s is facing this problem.