Webster666 saidHa ! Thanks to the George W. Bush Great Depression, I'm LIVING off my retirement fund, right now. Luckily, I saved a lot when I was working. And, I'm living in my nest egg. If necessary, I could sell my condo and make a very tidy profit.
No wonder you are so angry and bitter. But the Obama "summer of recovery" is in full swing, so rejoice!
For everyone else, and to the OP on here (you didn't indicate whether you have been saving or not and I see you are already 46), this is what you should do to save for retirement. It's simple, but it works.In your 20s
, go to Fidelity.com or Schwab.com and setup a Roth IRA.
Then start putting away a minimum of $100 each month (do it as soon as you get your paycheck, before you spend it on anything else!) and buy shares of an S&P 500 Index mutual fund. And, make sure dividends are reinvested
Once you get near age 50, start selling shares of the mutual fund and put the proceeds into a safe investment, like a CD.
And that's it.
Of course, you won't retire a billionaire, but you will have a sizable amount of money come age 59 1/2 (or beyond if you choose to retire later).
Do NOT rely on Social Security being there for you, especially if you are under age 40.