Generally when I see something like this I assume that someone is trying to create propaganda to advocate for how their political view (in this case likely for communism of some sort - but the right has their own ways to distort data) is best or the US is really bad (since the rest of the world isn't included).
Just remember that life savings it a zero sum game: in the end everyone ends up at 0 (there are a few religions that claim you can take it with you - I believe they are wrong, but I guess I can't prove it). If you die with a lot of savings or a lot of debt it doesn't matter - either way you are at 0 the moment you die. If you have savings it goes to someone else. If you have debt someone else just lost money. As such savings is only useful in that it can enable your future life in a rainy day.
Thus I'm not convinced this is bad. Figure out how you will handle old age when you may have medical bills and no ability to earn. You may want to save for a retirement. There are people who retire and discover they miss going to the office so they unretire. You may choose to spend more now when you are young and can enjoy it as opposed to when you are old and your body couldn't go on long hikes. I may choose something different, but I can't really judge.
Comments
Generally when I see something like this I assume that someone is trying to create propaganda to advocate for how their political view (in this case likely for communism of some sort - but the right has their own ways to distort data) is best or the US is really bad (since the rest of the world isn't included).
Just remember that life savings it a zero sum game: in the end everyone ends up at 0 (there are a few religions that claim you can take it with you - I believe they are wrong, but I guess I can't prove it). If you die with a lot of savings or a lot of debt it doesn't matter - either way you are at 0 the moment you die. If you have savings it goes to someone else. If you have debt someone else just lost money. As such savings is only useful in that it can enable your future life in a rainy day.
Thus I'm not convinced this is bad. Figure out how you will handle old age when you may have medical bills and no ability to earn. You may want to save for a retirement. There are people who retire and discover they miss going to the office so they unretire. You may choose to spend more now when you are young and can enjoy it as opposed to when you are old and your body couldn't go on long hikes. I may choose something different, but I can't really judge.