rainman + 263 April 15, 2019 A safe retirement will be a "dream" for many . 40 years ago, 84% of all private-sector American workers had a corporate pension plan. Today less than 28% do. "Hedge fund titan Ray Dalio published a sobering essay last Friday about the state of capitalism in the U.S....(..) Dalio then went on to present myriad data showing that many Americans make too little money to live on, let alone save, with harmful consequences. He counts among them diminished health, education and economic mobility, high rates of incarceration, and widening wealth and income disparity that raise the risk of social unrest. In an interview with 60 Minutes on Sunday, he called it “a national emergency.” The problems Dalio identified can already be observed in much of his data, but another one is coming, and soon. Many Americans can’t afford to save for their future, and with baby boomers leaving the work force in big numbers, millions will spend their retirement in or near poverty. Unlike many of the thorny problems cited by Dalio, however, this one has a simple solution and it doesn’t involve exorbitant expense. The Government Accountability Office recently updated its sweeping 2015 report on retirement security in America. The new numbers are no more comforting than the old ones, and the most worrisome among them is stubbornly consistent: 29 percent of households aged 55 and older have no retirement savings and no pension. It’s a bigger number than it seems. The 65-and-older population is projected to be roughly 74 million in 2030, according to the Census Bureau. If nothing changes, more than 21 million of those retirees will have to rely on Social Security, a meager income. ..." https://www.bloomberg.com/opinion/articles/2019-04-10/employers-can-buy-retirement-security-for-2-64-an-hour?utm_medium=social&cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter 1 1 Quote Share this post Link to post Share on other sites
francoba + 93 fb April 15, 2019 Does Wall Street have anything to do with it? Quote Share this post Link to post Share on other sites
pinto + 293 PZ April 15, 2019 That's an inversion... Quote Share this post Link to post Share on other sites
Pavel + 384 PP April 15, 2019 1 minute ago, pinto said: That's an inversion... ... Or, it's an invasion of the budget Quote Share this post Link to post Share on other sites
50 shades of black + 254 April 15, 2019 Definitely, the data is not optimistic.... We have $1.5 trillion in student loan debt, 1 and 5 Americans with "crippling" medical debt, 29% of U.S households aged 55 and older having no retirement savings or pension, and the world’s largest military budget.... Quote Share this post Link to post Share on other sites
Pavel + 384 PP April 15, 2019 Generally, things are not pinky... U.S. public sector pension situation could trigger a big financial gap... 1 Quote Share this post Link to post Share on other sites
damirUSBiH + 327 DD April 15, 2019 10 most-asked retirement questions, past year U.S. The list starts with - 1. How much do I need to retire? and ends with 10. Where to retire? https://www.marketwatch.com/story/the-no-1-question-americans-ask-most-about-retirement-2019-04-08 Quote Share this post Link to post Share on other sites
Enthalpic + 1,496 April 15, 2019 Tax breaks for corporations and the rich must be the answer. It never trickles down... Quote Share this post Link to post Share on other sites
Ouallan + 2 October 15, 2021 (edited) I am retiring soon, and I have to tell you that I'm pretty afraid of what will be on during my retirement. I mean, the dream of a "safe" retirement has been destroyed by all the events going on during the last two years. I keep thinking about the fact the retirement plan our country has might ruin the economy. I've been saving money my entire life. However, I'm still afraid of the future. During the last couple of months, I've been browsing https://seekingretirement.com/can-i-retire, looking for answers about retirement. A good retirement plan and many other things. I'm that paranoid. Edited October 18, 2021 by Ouallan 1 Quote Share this post Link to post Share on other sites
ronwagn + 6,290 October 18, 2021 On 4/15/2019 at 8:02 AM, rainman said: A safe retirement will be a "dream" for many . 40 years ago, 84% of all private-sector American workers had a corporate pension plan. Today less than 28% do. "Hedge fund titan Ray Dalio published a sobering essay last Friday about the state of capitalism in the U.S....(..) Dalio then went on to present myriad data showing that many Americans make too little money to live on, let alone save, with harmful consequences. He counts among them diminished health, education and economic mobility, high rates of incarceration, and widening wealth and income disparity that raise the risk of social unrest. In an interview with 60 Minutes on Sunday, he called it “a national emergency.” The problems Dalio identified can already be observed in much of his data, but another one is coming, and soon. Many Americans can’t afford to save for their future, and with baby boomers leaving the work force in big numbers, millions will spend their retirement in or near poverty. Unlike many of the thorny problems cited by Dalio, however, this one has a simple solution and it doesn’t involve exorbitant expense. The Government Accountability Office recently updated its sweeping 2015 report on retirement security in America. The new numbers are no more comforting than the old ones, and the most worrisome among them is stubbornly consistent: 29 percent of households aged 55 and older have no retirement savings and no pension. It’s a bigger number than it seems. The 65-and-older population is projected to be roughly 74 million in 2030, according to the Census Bureau. If nothing changes, more than 21 million of those retirees will have to rely on Social Security, a meager income. ..." https://www.bloomberg.com/opinion/articles/2019-04-10/employers-can-buy-retirement-security-for-2-64-an-hour?utm_medium=social&cmpid=socialflow-twitter-business&utm_content=business&utm_campaign=socialflow-organic&utm_source=twitter Almost all government workers will be in great shape with retirements and benefits. Corporations should be mandated to pay more into social security to keep it solvent also. Quote Share this post Link to post Share on other sites
ronwagn + 6,290 October 18, 2021 On 10/15/2021 at 5:59 PM, Ouallan said: I am retiring soon, and I have to tell you that I'm pretty afraid of what's going to be on during my retirement. I mean, the dream of a "safe" retirement has been destroyed by all the events going on during the last two years. Like the government inflating the money supply and spending more money than it takes in for decades? Those that want to spend the most are the most guilty for inflation. Our country and its poor and middle class will have to learn to pinch dollars tightly. Quote Share this post Link to post Share on other sites
ronwagn + 6,290 October 18, 2021 On 4/15/2019 at 8:20 AM, Pavel said: Generally, things are not pinky... U.S. public sector pension situation could trigger a big financial gap... Especially in blue states and purple ones. Quote Share this post Link to post Share on other sites
ronwagn + 6,290 October 18, 2021 On 4/15/2019 at 8:03 AM, francoba said: Does Wall Street have anything to do with it? Pushing profits over their long term employees, retention, smooth operations. Bean counters have taken over almost all corporations. No retirement systems and paltry or no profit sharing. Quote Share this post Link to post Share on other sites
JaciDivs 0 JD March 21, 2022 (edited) The recent events are even more alarming, hope it doesn't affect the retired people in some ways. I don't feel like going to work again, when I am at my 60s. In the worst case scenario, I have some savings, but I hope that the political situation in the world won't escalate more and we will be able to live in peace and with no additional tariffs. My financial advisor elaborated a plan which I am following, so I should be able to live the rest of my life with no worries about money. Edited March 23, 2022 by JaciDivs Quote Share this post Link to post Share on other sites
Boat + 1,325 RG March 21, 2022 I have been retired for 3 years. I live cheap by giving up my car and have everything delivered. I spent my youth going out. Been there done that. Staying at home dosent bother me. Amazon and grocery get 95% of my business. My big expense is tv. I am a heavy sports fan, Netflix, Disney, HBO and Fubo keep me occupied. I also game/golf maybe 15 hrs a week. It’s a different life but I don’t feel cheated or left out etc. I use my brother for medical checkups and misc trips like a trip to H&R Block. An excuse to eat out. I haven’t had to sell any stock yet and am thinking of adding a few Tesla shares. No fear here yet. 1 Quote Share this post Link to post Share on other sites
Boat + 1,325 RG March 21, 2022 On 10/17/2021 at 10:35 PM, ronwagn said: Pushing profits over their long term employees, retention, smooth operations. Bean counters have taken over almost all corporations. No retirement systems and paltry or no profit sharing. Most companies will match 4-6% of your income in a 401 k plan. Do that for a couple of decades and you will have a decent nest egg. If you worked for 35-40 years your SS should be $1700+. You’ll be rich in Mexico. Lol Quote Share this post Link to post Share on other sites
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