Overview

This essay sheds light on why you will never be able to retire, the true cost of retirement, and the issues associated with reaching the retirement age that older workers face. Moreover, how how to make money to start financing your retirement goals. Much to the dismay of the average person, older worker, and even the ever aging Millennial, the illusion of retirement, even years after reaching the retirement age, is relegated to being an unblossomed pipe dream and is anything but a viable reality for most. The crux of the issue as to why you will never be able to retire in this simulated reality is that you simply have not earned the wealth nor income streams needed to sustain yourself without working amid the retirement years. The average ever rising retirement costs is no less than $5,000 per month or $60,000 per year. The costs to live in a shoe box assisted living apartment is at least $4,000 per month without factoring in all the other expenses the retiree has to pay to sustain themself. Moreover, the costs to live in a small private room in a nursing home for a retiree is at least $7,000 per month without factoring in all the other expenses that he has to pay just to sustain himself. Being eligible to even receive an infinitesimal amount of the money back that you paid into social security over the years is arduous and conditional. Furthermore, not everyone meets the requirements to be able to receive social security benefits, even if they contributed tens of thousands of dollars into the program over the years they worked. As you can only earn a maximum of four credits per year, it takes a minimum of 10 working years to be able to qualify for Social Security benefits. As this credit limit applies to all, regardless of income, those who have very large incomes are not able to take advantage of benefits any earlier than those with more-meager earnings ( What are social, 2019). Not all workers have accrued the requisite 40 credits throughout their working years that are necessary to quality for social security benefits. In order to comfortably sustain yourself past the retirement age, the more conservative financial adviser would recommend that you need close to 20 million dollars saved up before you reach the retirement age due to the exorbitant cost of living and infinitesimal annual percentage yield that money markets offer. Even less conservative financial advisers would advise that you need at least $10,000 per month or $120,000 per year from passive income streams during retirement age to somewhat comfortably sustain yourself when you account for the exorbitant costs of taxation and living. In other words, the costs of living during retirement age, especially with an ailing vessel, is eminently unaffordable for most and retirees are almost always subsidized by their younger counterparts who pay into medicare and social security while receiving no benefit in return for subsidizing the expenses of their elders at the cost of their own wealth, time, happiness, and futures. If retirees did not receive all these subsidizes from the youth subsidizing their expenses, mainly in the forms of medicare benefits, irrespective of how neglectful they have been over the years towards taking care of their health, then their out of pocket cost of living expenses and medical expenses could easily be at least $20,000 per month or $240,000 per year. Due to the exorbitant ever increasing cost of living, enormous tax rates, and abysmal job prospects that do not even pay a sustenance wage, the cost of retirement is eminently cost prohibitive for almost all Millennials, even those who work multiple jobs. Moreover, it is highly unlikely that Millennials will ever have the opportunity to even semi-retire, even past one hundred years of age. In others words, Millennials will need to work in perpetuity in this simulated reality just to be able to possibly afford to lease a small room from a subtenant and buy some low quality, inorganic food.

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