Why retirement is a myth

  • metta

    Posts: 39118

    Feb 11, 2016 2:43 AM GMT
    Why retirement is a myth

    "It’s easy to feel woefully inadequate when it comes to your retirement savings plan.

    And you’re not alone: Fidelity Investments puts 55% of Americans in “danger of not fully covering even estimated essential expenses like housing, health care, food in retirement.” A Wells Fargo/Gallup survey found that 46% of their participants were either “very” or “somewhat” worried about outliving what they were capable of saving for retirement, with concerns about whether they could rely on Social Security checks alone."


    http://www.marketwatch.com/story/story?guid=be462262-b642-11e5-82b8-23eb33bb6607&storyguid=be462262-b642-11e5-82b8-23eb33bb6607&siteid=nwhpf
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    Feb 11, 2016 3:36 AM GMT
    theantijock%20engage%20stalker%20reducti

    I just skimmed quickly and immediately caught a lie

    article: " But don’t count on a comfortable standard of living if you plan to live off Social Security — the GAO says it provides only about $17,000 a year. The GAO also says this fund will be insolvent by 2034, leaving many of us with nothing at all."

    That's horseshit. at 2034 SS is scheduled (unless fixed before than) to pay out 75% for as far as projections go (so far into the 2080s I think it is) and that's just to get over the hump of retirees. That could change by immigration, bringing in workers, getting rid of pay limit, extended working for the current population, etc., especially as people realize that retirement isn't what they thought. That it was more fun working.

    I imagine a lot of this will be rethought over the next decades as longevity extends even further than where we are. I don't recall the history offhand but wasn't it before the 1900s retirement wasn't really much a concept at all. And then people retired for 10 or 20 years and died. But now 30 or 40 years of doing nothing? Yikes. Never mind funding it. Where's the fun in that?

    And what if humanity starts living past 100? 50 years of doing nothing? Oh that sounds like a good time. I'm gonna have to beef up my escort savings just to pay for a diversion.
  • 24hourguy

    Posts: 364

    Feb 11, 2016 3:29 PM GMT
    Yeah somewhere in the back of my head I secretly hope I'm dead before I need any of my meager retirement $....I'd rather just will it to my niece
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    Feb 11, 2016 3:49 PM GMT
    southbeach1500 said
    metta saidWhy retirement is a myth

    "It’s easy to feel woefully inadequate when it comes to your retirement savings plan.

    And you’re not alone: Fidelity Investments puts 55% of Americans in “danger of not fully covering even estimated essential expenses like housing, health care, food in retirement.” A Wells Fargo/Gallup survey found that 46% of their participants were either “very” or “somewhat” worried about outliving what they were capable of saving for retirement, with concerns about whether they could rely on Social Security checks alone."


    http://www.marketwatch.com/story/story?guid=be462262-b642-11e5-82b8-23eb33bb6607&storyguid=be462262-b642-11e5-82b8-23eb33bb6607&siteid=nwhpf


    Bernie Sanders will give us all "free" retirement income.

    Plus, isn't food a "basic human right" and as such, why should we pay anything for it?

    On a Senator's income for several years, Bernie Sanders in his 70s has a net worth of $300K. From many financial advisor columns, that is not enough to even retire on. And this guy is giving economic advice?

    Ridiculous.
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    Feb 11, 2016 4:42 PM GMT
    Agree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 4:54 PM GMT
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.

    You're very out of touch. Sanders' supporters are not retired lawyers who had careers during the US's heyday. Sanders' supporters have less money than Sanders does, and they don't blame themselves. They blame decades of rigged policies. Working class people are heavily armed and overly burdened, and they can't get out of it. The fat cats are not the libs. They are old men who have disdain for the poor and minorities, who blame the poor for their choices, but the disdain goes both ways. Sanders' supporters blame the rich, and they're going for a political solution. Anyone who wants to remain comfortable better hope it works, because next up is rioting.
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    Feb 11, 2016 5:03 PM GMT
    HottJoe said
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.

    You're very out of touch. Sanders' supporters are not retired lawyers who had careers during the US's heyday. Sanders' supporters have less money than Sanders does, and they don't blame themselves. They blame decades of rigged policies. Working class people are heavily armed and overly burdened, and they can't get out of it. The fat cats are not the libs. They are old men who have disdain for the poor and minorities, who blame the poor for their choices, but the disdain goes both ways. Sanders' supporters blame the rich, and they're going for a political solution. Anyone who wants to remain comfortable better hope it works, because next up is rioting.

    Those who want to do the best they can for retirement, whatever that is, would be better off listening to someone other than a politician who has demonstrated total recklessness and incompetence at his own personal finance.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 5:16 PM GMT
    socalfitness said
    HottJoe said
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.

    You're very out of touch. Sanders' supporters are not retired lawyers who had careers during the US's heyday. Sanders' supporters have less money than Sanders does, and they don't blame themselves. They blame decades of rigged policies. Working class people are heavily armed and overly burdened, and they can't get out of it. The fat cats are not the libs. They are old men who have disdain for the poor and minorities, who blame the poor for their choices, but the disdain goes both ways. Sanders' supporters blame the rich, and they're going for a political solution. Anyone who wants to remain comfortable better hope it works, because next up is rioting.

    Those who want to do the best they can for retirement, whatever that is, would be better off listening to someone other than a politician who has demonstrated total recklessness and incompetence at his own personal finance.

    After decades of listening, the money has not trickled down. All that's grown is a desire to lash out against the system and take what they want by force.
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    Feb 11, 2016 5:31 PM GMT
    HottJoe said
    socalfitness said
    HottJoe said
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.

    You're very out of touch. Sanders' supporters are not retired lawyers who had careers during the US's heyday. Sanders' supporters have less money than Sanders does, and they don't blame themselves. They blame decades of rigged policies. Working class people are heavily armed and overly burdened, and they can't get out of it. The fat cats are not the libs. They are old men who have disdain for the poor and minorities, who blame the poor for their choices, but the disdain goes both ways. Sanders' supporters blame the rich, and they're going for a political solution. Anyone who wants to remain comfortable better hope it works, because next up is rioting.

    Those who want to do the best they can for retirement, whatever that is, would be better off listening to someone other than a politician who has demonstrated total recklessness and incompetence at his own personal finance.

    After decades of listening, the money has not trickled down. All that's grown is a desire to lash out against the system and take what they want by force.

    Fact is they weren't listening. They weren't saving. Some lived beyond their means. Some abused debt. Not their fault of course, socialism to the rescue so everyone can be equally miserable. LOL
  • HottJoe

    Posts: 21366

    Feb 11, 2016 5:34 PM GMT
    socalfitness said
    HottJoe said
    socalfitness said
    HottJoe said
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.

    You're very out of touch. Sanders' supporters are not retired lawyers who had careers during the US's heyday. Sanders' supporters have less money than Sanders does, and they don't blame themselves. They blame decades of rigged policies. Working class people are heavily armed and overly burdened, and they can't get out of it. The fat cats are not the libs. They are old men who have disdain for the poor and minorities, who blame the poor for their choices, but the disdain goes both ways. Sanders' supporters blame the rich, and they're going for a political solution. Anyone who wants to remain comfortable better hope it works, because next up is rioting.

    Those who want to do the best they can for retirement, whatever that is, would be better off listening to someone other than a politician who has demonstrated total recklessness and incompetence at his own personal finance.

    After decades of listening, the money has not trickled down. All that's grown is a desire to lash out against the system and take what they want by force.

    Fact is they weren't listening. They weren't saving. Some lived beyond their means. Some abused debt. Not their fault of course, socialism to the rescue so everyone can be equally miserable. LOL

    If socialism doesn't save them, then it's war.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 5:36 PM GMT
    Poor people won't care if rich people think they're irresponsible miserable and lazy. They'll just blow them up. Happens all the time.
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    Feb 11, 2016 5:46 PM GMT
    HottJoe saidPoor people won't care if rich people think they're irresponsible miserable and lazy. They'll just blow them up. Happens all the time.

    Are you speaking for all the poor, or just the ones on pot all the time at home on the web not working? Saying it's not their fault they are not saving for retirement, and listening to a mouthpiece politician who also hasn't saved for his own retirement, even on a Senator's pay?
  • HottJoe

    Posts: 21366

    Feb 11, 2016 5:48 PM GMT
    I think people who are conformable and using their money to get laid by people who are physically out of their league are very naive for not realizing that the growing legions of angry poor lead-poisoned people will be gunning for them first.... The money just can't trickle down fast enough to stop it.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 5:50 PM GMT
    socalfitness said
    HottJoe saidPoor people won't care if rich people think they're irresponsible miserable and lazy. They'll just blow them up. Happens all the time.

    Are you speaking for all the poor, or just the ones on pot all the time at home on the web not working? Saying it's not their fault they are not saving for retirement, and listening to a mouthpiece politician who also hasn't saved for his own retirement, even on a Senator's pay?

    That reminds me, Sanders would decriminalize pot. That would soothe the tensions between the rich and poor, but the establishment is too stupid to do anything to quell the coming riots.
  • Fireworkz

    Posts: 606

    Feb 11, 2016 5:59 PM GMT
    MGINSD saidAgree, socal; he simply doesn't know what he's talking about. I like watching him and his fellow limo-libs making fools of themselves every time they address economic issues - and then quickly retreat into their very comfy lifestyles.

    As for the "myth" of retirement, it's the dangdest most concrete myth I've ever lived. But then, I worked, did without when I could, and saved for it, and am holding off on taking SS bennies for another year at least, if not longer. I'm not jetting around in a Gulfstream, but retirement's pretty good for me. I hope it goes as well for others, but if it doesn't you have only yourselves to blame.


    I don't think you read the article. You sound a bit out of touch. We are in a new era which is not only a US problem but is also common to Europe.

    Global interest rates are low. Real incomes are stagnant and the cost of living has gone up for the poor and the middle class.
    While the young generation are saddled with debt.

    Bond yields and equity returns are nowhere needed for pension plans to pay out. There is a pension deficit with most companies. And the older demographic is growing.

    So this is a structural problem not an individual problem. If only the 'sensible few' make any returns to fund their pensions then whichever political parties are in power will need to come up with a more radical solution. Especially as those impacted will be a large voting block.

    So the answer will likely be increased taxation or more immigration, or maybe a system reset or correction.

    Now it doesn't matter who is in power liberal or conservative they will need to come up with a solution as this will impact the majority of the population.

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    Feb 11, 2016 6:05 PM GMT
    One of the architects of Obamacare already stated the Liberal solution to this problem.

    Die by 75 since you will be a useless burden to society. An argument that society and families—and you—will be better off if nature takes its course swiftly and promptly:

    http://www.theatlantic.com/magazine/archive/2014/10/why-i-hope-to-die-at-75/379329/

    So Bernie has about 6 months remaining.

    111314b.jpg
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    Feb 11, 2016 7:33 PM GMT
    dosnt matter how much money you have saved as the first hospital stay will have it all.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 8:11 PM GMT
    Justme99 saidIt's NOT a myth.

    People STILL retire.

    It's just people are morons and invest poorly, if @ all.

    You can still retire if you have good investment strategies.

    Negative people are NEVER successful people.

    That's what separates the rich from everyone else.

    The rich know how to grow $ and the masses simply don't.

    That's my take on it.


    The vast majority of rich people are born rich and privileged and the world is just an endless playground for them. Sure they have unhappiness/baldness/no hope at humanity, but their problems are petty, and the world would breathe a sigh of relief if they vanished.
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    Feb 11, 2016 8:41 PM GMT
    Justme99 saidthe worldwide economy as it is now is going down faster than the Titanic and Madonna's top can fly off singing Erotica.

    people need to start learning better and more effective ways of investing their money.

    Precisely. If people wised up and did as you suggest, they might have some basis to complain about things. But as it stands, not investing, abusing debt and following advice of a socialist who on a Senator's salary has only $300K net worth, many are continuing on their dummy path.
  • RaggedyMan

    Posts: 7185

    Feb 11, 2016 8:50 PM GMT
    Ppl with money "retire". Everyone else just gets taken care of
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    Feb 11, 2016 9:17 PM GMT
    RaggedyMan saidPpl with money "retire". Everyone else just gets taken care of


    Taken care of? They've been paying IN for decades! It's not a hand out.
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    Feb 11, 2016 9:52 PM GMT
    Justme99 said
    socalfitness said
    Justme99 saidthe worldwide economy as it is now is going down faster than the Titanic and Madonna's top can fly off singing Erotica.

    people need to start learning better and more effective ways of investing their money.

    Precisely. If people wised up and did as you suggest, they might have some basis to complain about things. But as it stands, not investing, abusing debt and following advice of a socialist who on a Senator's salary has only $300K net worth, many are continuing on their dummy path.

    socalfitness,

    I'm so glad that you agree because there's honestly a plethora of people, who moan, groan, and complain about NOT having financial security once they reach retirement age and if you look @ their history of spending habits, then you can almost always see they could've done so much better.

    Yet, those are the same people who will complain that they have NO MONEY and it's EVERYONE ELSE'S fault that they're poor vs. taking responsibility for their own bad financial decisions.

    Thanks, for your feedback because I'm glad someone else sees what I see too. icon_smile.gif

    You're welcome, and thanks for the note. There are actually many people of all ages who agree with us. Many on RJ don't bother posting. Some of a particular political persuasion are great at fostering grievance. Always someone else's fault when things don't go their way.
  • HottJoe

    Posts: 21366

    Feb 11, 2016 10:16 PM GMT
    Justme99 said
    HottJoe said
    Justme99 saidIt's NOT a myth.

    People STILL retire.

    It's just people are morons and invest poorly, if @ all.

    You can still retire if you have good investment strategies.

    Negative people are NEVER successful people.

    That's what separates the rich from everyone else.

    The rich know how to grow $ and the masses simply don't.

    That's my take on it.


    The vast majority of rich people are born rich and privileged and the world is just an endless playground for them. Sure they have unhappiness/baldness/no hope at humanity, but their problems are petty, and the world would breathe a sigh of relief if they vanished.


    Joe,

    That's actually a myth. MOST of the rich today are actually self-made. Just look it up online. There's an article about it. The more money you have, though, the more problems you really do have--believe it or not.

    I know from my own family how many problems one relative had, so it's NOT always greener on the other side. Being rich doesn't shield you from life's problems. If anything, it creates MORE problems.


    Tell that to the people of Flint, Michigan. Or better yet trade them your water for theirs. They'll gladly accept your problem$.icon_rolleyes.gif
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    Feb 11, 2016 10:21 PM GMT
    HottJoe saidTell that to the people of Flint, Michigan. Or better yet trade them your water for theirs. They'll gladly accept your problem$.icon_rolleyes.gif

    Flint's water situation resulted from their financial situation. Many cities, including Flint, are in financial difficulty because of sweet pension deals arranged between the Democrats and public employee unions.

    Flint’s Lead Crisis Has One Big Overlooked Cause: Pensions
    http://dailycaller.com/2016/01/16/flints-lead-crisis-has-one-big-overlooked-cause-pensions/
  • RaggedyMan

    Posts: 7185

    Feb 11, 2016 10:27 PM GMT
    timmm55 said
    RaggedyMan saidPpl with money "retire". Everyone else just gets taken care of


    Taken care of? They've been paying IN for decades! It's not a hand out.

    Of course it's not. It's also not sustainable.