Submitted by franticredditperson t3_z6kv9u in nyc
NetQuarterLatte t1_iy45o1d wrote
Reply to comment by mowotlarx in He Says His Landlord Is Harassing Him to Leave a $450-a-Month Apartment by franticredditperson
>By the way, 150k won't get you much unless he moves out of the city entirely. When you realize that someone his age could live more than 10-20 years, that's a pitiable sum.
The median retirement savings for people 75 or older was 83k in 2019. In 2016 it peaked around 126k.
He already has his fixed retirement income. So the cash out sum of 150k would've been on top of that.
I'm still having a hard time feeling a lot of sympathy, if I'm being honest.
mowotlarx t1_iy48g52 wrote
You have no idea what this guy has saved. The average doesn't take into account the majority of elderly people in this country living in poverty on a fixed wage. Many of them lose everything during the Great Recession. You're also neglecting to take into account the kind of rent he'll be seeing from any other apartment in this city. That money would disappear quickly.
This'll be us one day, only we'll likely have even less whole rents will be higher.
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