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Thursday, November 17, 2011
More Americans Expecting To Retire In Their 80s
DES MOINES, Iowa — Workers are growing to accept the idea that they may be working long after they've become eligible for senior discounts. Yet rather than fixate on their target retirement age, they're increasingly focused on how much money they'll need to retire, according to a new national survey by Wells Fargo & Co.
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4 comments:
Paterno makes the case that 80 is too old to still be working.
401(k)'s decimated and destroyed by the same people who say they need taxpayer bailouts, take multi-million dolar "bonuses" and then retire at age 55, set for life. Home equity and housing values also destroyed by the same group of investment bankers and Wall Street CEO's. Senators and Congressmen making themselves rich and allowing this robbery to go unchecked. Cutting Social security, raising Medicare costs, and reducing Medicaid benefits. Companies eliminating jobs, cutting/eliminating benefits, and hoarding cash in the hundreds of BILLIONS. Food and energy costs rising faster EVERY WEEK. Governments at every level raising taxes, fees, fines, surcharges, and coming up with new ones every week. Americans (innocent Americans!) under constant surveillance, being searched without warrant and imprisoned in RECORD NUMBERS. Property being confiscated and given to COPORATIONS. Where's that idiot who said "the system is working"? It might be working if you have 20 million dollars and a few houses scattered around the country. Otherwise, things ain't that great. And now, we need to work until we are EIGHTY? The average life span is what?, 73-74 years? So, the average American, who has worked, paid taxes, and obeyed the law his whole life is now being told he must work for 5 years AFTER he dies in order to be able to retire?!! Maybe voting will help. MUUUUHAHAHAHAAHA.
Those that don't save, have to continue to work. Examine our national savings rate. Is there no correlation with the fact we spend more frivolously then any other society in the world? Quit crying, it's called personal responsibility.
There is a "correlation" you might have missed. That would the one where people have had their retirement savings STRIPPED from them, their home equity destroyed (the two biggest wealth sources for retirees), and their wages reduced or stagnated, that is, if they still have a job. I don't want to bring anyone into the REAL world, but MILLIONS of previously employed, taxpaying Americans no longer HAVE a job, 401(k)'s, mutual funds, or bank savings accounts, although they DID have them. So, for those who are lucky enough to have a job in an industry that is secure, or inherited money, or come from a wealthy family, etc., PLEASE don't assume that people didn't "save" and now they are in trouble. How piously arrogant and pitifully naive. It's an attitude that is supremely insulting to everyone who had (think Enron, or Worldcom, for example) $500,000 in their retirement funds. The next day? $4000. NOW, they are 70 years old and greeting customers at Wal Mart. Dummies! If they had only been as smart as you and "saved".....
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