#1 America’s future: too frail to work, too poor to retire will become the “new normal”03-27-2013, 11:15 PM
Now why does she care???
Wed Mar 27, 2013, 09:48 PM
America’s future: too frail to work, too poor to retire will become the “new normal”
We are on the precipice of the greatest retirement crisis in the history of the world. In the decades to come, we will witness millions of elderly Americans, the Baby Boomers and others, slipping into poverty. Too frail to work, too poor to retire will become the “new normal” for many elderly Americans.
That dire prediction, which I wrote two years ago, is already coming true. Our national demographics, coupled with indisputable glaringly insufficient retirement savings and human physiology, suggest that a catastrophic outcome for at least a significant percentage of our elderly population is inevitable. With the average 401(k) balance for 65 year olds estimated at $25,000 by independent experts—$100,000 if you believe the retirement planning industry—the decades many elders will spend in forced or elected “retirement” will be grim.
According to the author, the impending crisis will happen in ‘waves’ to a majority of elderly Americans:
Wave 1: Retirees Come Back To Work
Wave 2: Workers Delay Full Retirement
Wave 3: Full Retirement Is Unachievable
Wave 4: Drowning
one of the "little" people but she wouldn't want the average DUer anywhere
near her.May the FORCE be with you!
03-28-2013, 02:36 AM
- Join Date
- Jun 2008
Where were you when I was going through my own economic meltdown a couple of years ago? I'd love to live in your neighborhood. Call me!
03-28-2013, 03:07 AM
There are more people out on disability today than there are people on welfare. What does that tell you?Deplorably Proud To Be An American
03-28-2013, 06:26 AMWe have no government armed with power capable of contending with human passions unbridled by morality and religion. Avarice, ambition, revenge or gallantry would break the strongest cords of our Constitution as a whale goes through a net. Our Constitution is designed only for a moral and religious people. It is wholly inadequate for any other.In my many years I have come to a conclusion that one useless man is a shame, two is a law firm, and three or more is a congress.
- Join Date
- Apr 2005
03-28-2013, 09:23 AM
- Join Date
- May 2008
- Northern Virginia
I started saving for retirement the day I started working - even though, at 21, I didn't really see the point. You can bet I do now. :)"Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
03-28-2013, 11:19 AM
The rich bitch C&P artist, a classic case of marrying into money with no marketable skills of her own, worrying about the proles out of a sense of noblesse oblige, from her lofty morally-superior perch. Aren't we in an 'Information age,' where physical frailty isn't a barrier to working ('Cause there sure aren't the percentage of heavy manufacturing, resource extraction, or materials handling jobs there used to be)?
I retired according to plan last year. I ain't going back, I'll be making more than I did working thanks to planning for multiple income streams, as well as having an extra 50+ hours a week for homesteading and some hobbies that produce a small additional positive cash flow.
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