Retirement Crisis: Impoverished Seniors on the Horizon

[editec]

More DIVIDE TO CONQUER poltics.

This time the division is designed to pit the generations of workers one against the other.

And plenty of people fall for it, too.

The boomer generation worked its collective ass off.

It saved social security, and invested mostly into housing as their retirement plan.

And it did that all during the time that REAL WAGES were falling.

Now the propagandists want to convince the youngr generations that they deserve to be starved because they were reckless with their money.

Poppycock!

The boomers were a very conservative generation of workers and savers.

They were better educated, worked more hours for less purchasing power than the WWII or Korean generations.

What has happened to that generation financially was entirely beyond their control.

 

[Truthmatters]

there is a big differance to what age you retire compared to what work you did.

Coal Miners dont live to 90

 

[SteadyMercury]

Higher taxes, obamacare, lower wages, are all a direct result of Obama policies.

Maybe, maybe not.

Either way though people who are statistics in articles about retirees not having saved enough cannot be blamed on policies of the last few years, as opposed to what they did in the previous 30-40 years.

Either way the trend of private companies no longer offering defined plans has been happening for decades, so couldn't possibly be attributed to policies enacted in the last 4-5 years.

Again I'm not addressing whether Obama's policies are good or bad, just saying you blaming things that have been happening as long as I can remember on his policies is foolish.

 

[EdwardBaiamonte]

yeap Im right you would jsut laugh at starving old people and call them names for starving.

if there are no consequences for bad behavior you are encouraging bad behavior so sadly there is no way to keep human behavior on track without often severe consequences. Look at how many people still get AIDS from unprotected sex. Do you want to lock everyone up so they cant have sex, for their protection, and to sooth you're bleeding liberal heart??

 

[martybegan]

so how will you treat these seniors with policy when we have millions of starving seniors?

you will say Too Bad.


You seek an America most Americans will hate living in

So I guess Im supposed to pay to help people who could have helped themselves, but didnt. Also the government is supposed to FORCE me to pay for this.

So why should I plan for, save for, and monitor my retirement if everyone else will get taken care of, even though they didnt plan for, save for, or monitor thier retirement?

yeap Im right you would jsut laugh at starving old people and call them names for starving.


Good thing the vast majority of Americans are not sociopaths like you are

No i take care of my OWN old people, i cook dinner every sunday at my grandparents house and take care of other things for them, the same thing I anticipate doing for my own parents when they get older.

I take care of my own house.

 

[martybegan]

We are living decades longer than our ancestors. We should not be retiring at the same age they did.

I'm not against people retiring early, as long as it is thier own money supporting said early retirement.

Right now the software I use to run my 401k says I am on pace for 2 times the yearly withdrawl income required to maintain a good standard of living in retirement, assumeing I retire around 70.

I am talking about the Social Security and Medicare eligibility ages. Our ancestors set those to 65 years of age.

We should not be eligible for those at the same age our ancestor were since we are living decades longer.

Yes, those programs were only meant for a portion of the population, not a majority of the population like we see now. Or at least the majority were only supposed to use them for less than 10 years.

 

[Nova78]

We are living decades longer than our ancestors. We should not be retiring at the same age they did.

I'm not against people retiring early, as long as it is thier own money supporting said early retirement.

Right now the software I use to run my 401k says I am on pace for 2 times the yearly withdrawl income required to maintain a good standard of living in retirement, assumeing I retire around 70.

I am talking about the Social Security and Medicare eligibility ages. Our ancestors set those to 65 years of age.

We should not be eligible for those at the same age our ancestor were since we are living decades longer.

Decades longer ? your full of poop, nothing more than paying in to SS your whole life then the government betting your dead soon after benefits began....

 

[lynn63]

There has been many studies on seniors and the studies clearly indicate that the more wealth you have, you will have a much higher chance of living longer lives. Many people lost a high percentage on their retirement investments, do you think it was done on purpose to reduce the number of lives for upcoming seniors?

 

[editec]

There has been many studies on seniors and the studies clearly indicate that the more wealth you have, you will have a much higher chance of living longer lives. Many people lost a high percentage on their retirement investments, do you think it was done on purpose to reduce the number of lives for upcoming seniors?

No.

It was done by a rather small cabal of BanKsters with the help of the government they own.

They don't hate Americans, they just think of us about the same way a butcher thinks about the sheep he's about to slaughter.

the problem we're facing now is that their self interest bankrupted their own banks.

That WHY the FED and TREASURY (starting under Bush II and continuing under Obama) had to bail them out.

 

[g5000]

More DIVIDE TO CONQUER poltics.

This time the division is designed to pit the generations of workers one against the other.

And plenty of people fall for it, too.

The boomer generation worked its collective ass off.

It saved social security, and invested mostly into housing as their retirement plan.

And it did that all during the time that REAL WAGES were falling.

Now the propagandists want to convince the youngr generations that they deserve to be starved because they were reckless with their money.

Poppycock!

The boomers were a very conservative generation of workers and savers.

They were better educated, worked more hours for less purchasing power than the WWII or Korean generations.

What has happened to that generation financially was entirely beyond their control.

The boomers ran up a $16 trillion debt. I don't consider that "a very conservative generation of workers and savers".

 

[jwoodie]

Yup.

EXcept blaming ALL of this on Obama is rather silly.

The problems facing my generation as they come into retirement have a loooooooooooooooooooog history involving bad policy decisions of both parties over the last 60+ years.

You have to be willfully ignorant to miss that obvious fact.

The Republicans have been marching towards the retirement cliff, but the Democrats have been running towards it. Realistically, our only solution is to increase the number of tax paying immigrants in this country in order to finance Social Security and Medicare.

 

[EdwardBaiamonte]

Yup.

EXcept blaming ALL of this on Obama is rather silly.

The problems facing my generation as they come into retirement have a loooooooooooooooooooog history involving bad policy decisions of both parties over the last 60+ years.

You have to be willfully ignorant to miss that obvious fact.

The Republicans have been marching towards the retirement cliff, but the Democrats have been running towards it. Realistically, our only solution is to increase the number of tax paying immigrants in this country in order to finance Social Security and Medicare.

solution is Republican private accounts so an average American can retire rich (after saved 15% of life time income) rather than with liberal dog food money. Capitalsim made us all rich, then libturds stole the money through scams like SS!!

 

[SteadyMercury]

solution is Republican private accounts so an average American can retire rich (after saved 15% of life time income) rather than with liberal dog food money.

This is a solution for someone who thinks puddle deep, like Special Ed.

What happen to people who invested too conservatively over the span of their life and end up with far too little in retirement? What would have happened to people who had most of their money in the stock market right and reached retirement age in 2008?

I'm not saying social security is always the better deal for people who know how to manage their finances but lets face it there are a lot of really stupid people out there and anyone who believes the availability of private accounts would make most people retire rich is naive.

 

[martybegan]

solution is Republican private accounts so an average American can retire rich (after saved 15% of life time income) rather than with liberal dog food money.

This is a solution for someone who thinks puddle deep, like Special Ed.

What happen to people who invested too conservatively over the span of their life and end up with far too little in retirement? What would have happened to people who had most of their money in the stock market right and reached retirement age in 2008?

I'm not saying social security is always the better deal for people who know how to manage their finances but lets face it there are a lot of really stupid people out there and anyone who believes the availability of private accounts would make most people retire rich is naive.

Im at double my projected retirement income, with retirement slated for 70 years old. I put about 10% of my income into my retirement, my company matches with 3% and I have $150k in the account at 38 years old. Once I hit around 50 when the market is peaking I will start moving some of the money to more stable bond funds from the high risk stocks.

It really isnt that hard, there are simple tools you can use. it just requires a bit of "GASP" responsibity.

 

[Truthmatters]

Retirement Crisis: Impoverished Seniors on the Horizon

The Employee Benefit Research Institute (EBRI) has published its annual Retirement Confidence Survey which confirms what virtually all such surveys have concluded: 1) that Americans are living longer; and 2) that they do not have anywhere near enough saved for retirement.

The sad truth is, Americans do almost no thinking about what kind of retirement they want. They mistakenly assume that Social Security is a retirement program, when in fact it is a supplemental retirement program. The three legs of the retirement "stool"—Social Security, a pension, and private savings—have all seen some shrinkage in the past few years.

For Social Security, all baby boomers know the truth: We are going to be working longer, into our 70s, paying more and getting less. Pensions are going away: International Business Machines stopped providing pensions to new employees a couple years ago, and many are facing reductions in their benefits.


And private savings? Let me quote from the EBRI survey: 57 report having less than $25,000 in household savings and investments (excluding their home and pension benefits). This is for all workers, so older workers would have more money, but other surveys show the results are equally paltry.

Welcome to Obama World

yeah switching all those retirement plans to 401 ks tied to the market was a great idea huh?


and all that stripping of peoples equity in their homes helped too huh?

 

[Truthmatters]

what the right is refusing to see was this was done to the American people on purpose by the wealthy with the help of the republican party

 

[EdwardBaiamonte]

.

What happen to people who invested too conservatively over the span of their life and end up with far too little in retirement?

they'd still have far more than the dog food money the get from liberal SS!!

.
What would have happened to people who had most of their money in the stock market right and reached retirement age in 2008?

too stupid!! they'd wait a couple of years until the market hit new highs and retire richer than expected plus leave a $2 millon estaste to their kids!!

.
I'm not saying social security is always the better deal for people who know how to manage their finances

it not always better its about 90% worse!!!! $1.4 million is better than 1200 a month!!!!! Are you stupid?????

.
but lets face it there are a lot of really stupid people out there and anyone who believes the availability of private accounts would make most people retire rich is naive.

too stupid!! investments would be restricted to A rated investments and no more than 20% in one place

 

[Truthmatters]

Your own wealthy Ayn Rand ended up on SS because of her bad economic decisions.

 

[Truthmatters]

The right screamed to privatize all retirement.

Imagine what would have happened if they suceeded ?


No one would have money fro retirement but the top teir

 

[Truthmatters]

It was planned and the republican party wanted it this way ONLY worse