{"id":20538,"date":"2026-03-08T18:39:51","date_gmt":"2026-03-09T02:39:51","guid":{"rendered":"https:\/\/coldstreams.com\/social\/?p=20538"},"modified":"2026-03-08T18:39:51","modified_gmt":"2026-03-09T02:39:51","slug":"media-more-fake-news-on-retirement","status":"publish","type":"post","link":"https:\/\/coldstreams.com\/social\/2026\/03\/08\/media-more-fake-news-on-retirement\/","title":{"rendered":"Media: More fake news on retirement"},"content":{"rendered":"\n

The Surprising Number of People Who Reach $1 Million in Retirement Savings<\/a><\/a><\/p>\n\n\n\n

“According to the most recent figures from the U.S. Federal Reserve’s Survey of Consumer Finances, only about 2.5% of all Americans actually have $1 million or more saved in their retirement accounts.”<\/p>\n\n\n\n

Horrible.<\/p>\n\n\n\n

But how does the Survey define “retirement accounts”?<\/p>\n\n\n\n

“The U.S. Federal Reserve’s Survey of Consumer Finances (SCF)<\/strong> defines a “retirement account” as a type of savings account specifically set up for retirement purposes. This includes various types of accounts that individuals may use to save for their retirement years.”<\/p>\n\n\n\n

This means IRA and 401(k) accounts and accounts specifically marked as “retirement.” <\/p>\n\n\n\n

\n

Accounts not typically included in the retirement account category are standard savings accounts, checking accounts, or other general investment accounts not specifically designated for retirement.<\/p>\n<\/blockquote>\n\n\n\n

All other assets including bank savings, bonds, stock market investments, real estate owned, pension income, life insurance policies – are ignored in this survey. When those assets are included, the actual total is about 12%. Then, to the assets must be added Social Security and pension income – which leads to the surprising finding that about 85% of retirees say they are living “okay financially” (see Personal Finance: Most American retirees doing \u201cokay financially\u201d \u2013 Coldstreams<\/a>)<\/p>\n\n\n\n

The above story was written by Peter Gratton, Ph.D. in philosophy. A global elite, he has lectured all over the world and teaches “critical thinking”.<\/a> Yet his story demonstrates a lack of critical thinking.<\/p>\n\n\n\n

Leaving out the definition of “retirement account” is journalistic malpractice – but it helps to up the doomerism quotient of the story, which is good for click bait.<\/p>\n","protected":false},"excerpt":{"rendered":"

More fake news about retirements savings – which excludes most all of the assets many people have for retirement. Typical.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[357,26,29,30,352,39,40,49],"tags":[],"class_list":["post-20538","post","type-post","status-publish","format-standard","hentry","category-daily-doomer","category-lies","category-media","category-media-propaganda","category-misinformation","category-fake-news","category-fictional-news","category-truth"],"_links":{"self":[{"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/posts\/20538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/comments?post=20538"}],"version-history":[{"count":1,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/posts\/20538\/revisions"}],"predecessor-version":[{"id":20539,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/posts\/20538\/revisions\/20539"}],"wp:attachment":[{"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/media?parent=20538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/categories?post=20538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coldstreams.com\/social\/wp-json\/wp\/v2\/tags?post=20538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}