Here here. When you empty your 401k to build your business, and don't contribute to it for 15 years while you are building, as you simply don't have the cash, and cannot afford it ...
Yeah. The implicit assumptions of the "live in poverty" of the OP, are wrong.
I'm 54, and I was financially wiped out at 51. I will not ever recover from this. No family wealth to fall back on. I do not believe I will ever be able to retire. And noting that there is a bit of ageism in this space, makes the threat of potential long term unemployment even worse for folks like me.
Sort of an inverse Ozymandias. Gaze upon my flaming cratered company, and beware. Here be demons. That you cannot control.
Yeah. The implicit assumptions of the "live in poverty" of the OP, are wrong.
I'm 54, and I was financially wiped out at 51. I will not ever recover from this. No family wealth to fall back on. I do not believe I will ever be able to retire. And noting that there is a bit of ageism in this space, makes the threat of potential long term unemployment even worse for folks like me.
Sort of an inverse Ozymandias. Gaze upon my flaming cratered company, and beware. Here be demons. That you cannot control.
I had skin in the game. And I lost it.