Skip to comments.Seniors Going Back To Work to Salvage Their Retirement Nest Eggs, Says AMAC
Posted on 10/28/2013 6:16:36 AM PDT by smokingfrog
Seniors who went back to work after retirement used to do it to keep busy, but the Obama Recession and the uncertainties of the Affordable Care Act have made it an economic necessity for more and more older Americans, according to Dan Weber, president of the Association of Mature American Citizens.
Two recent Gallup surveys show that there are more post-retirement job seekers out there than ever before, mainly because theyve lost confidence in the economy. The historically destructive recession that started as the president took office and his inability to speed up the recovery have seniors scrambling for ways to salvage whats left of their retirement. Bear in mind that while the net worth of all Americans has declined sharply during this period, seniors have been hardest hit.
(Excerpt) Read more at amac.us ...
Here are some of the reasons why seniors are forced to re-enter the labor force. That is if they can actually find a job as they compete against the wave of freshly minted college graduates, many of whom are also desperately looking for work in a shrinking jobs market.
1) The Federal Reserve has pushed interest rates to effectively zero to try and compensate for the ruinous economic policies coming out of the Obama administration. This has destroyed the ability of senior to generate sufficient interest on their savings to supplement whatever pension or Social Security they receive. This policy by the Fed is NOT expected to change anytime soon, as Janet Yellen is even more dovish than Ben Bernanke.
2) Rather that institute pro-growth economic policies like JFK, Reagan or even Clinton, Obama has intentionally pursued economic policies that are anti-business, anti-job and designed to re-make the countrys economic infrastructure into something much closer to the low-growth, high unemployment, high regulation European socialist democracy model. This has resulted in sub-par, at least for what the United States used to be capable of achieving, economic growth during Obamas entire time in office. Yet even with this incredible performance, Obama managed to win re-election. Thus we can expect NO positive change in economic outlook for the nation until at least 2016, if then.
3) Obamacare and the other long-term transformative measures put in place, that will ensure economic conditions, for both individuals and businesses, dont improve meaningfully the economic environment going forward. Obamacare has created a perverse incentive to NOT grow a business or hire new employees, since once you cross one or more of the thresholds associated with the law, your business is penalized. Thus most small businesses are effectively operating in a bunker mode mentality. They are doing nothing business wise, that will lead themselves to trigger one or more of these ruinous thresholds. Small business is NOT going to change until this threat is removed. People did not risk everything to open up and grow their businesses to simply be wealth transfer mechanisms for the federal government.
4) Public education and mainstream media are doing an excellent job of indoctrination of the young in this country. They have been at it for decades now and they have finally produced sufficient numbers of dumbed-down voters, who know nothing about global history or real economics, that they have openly voted for socialism without even realizing it. Obama is NOT the problem. He is merely the result of an electorate that is sadly too illiterate to understand what he and many other Democrats have been preaching all along. Given the demographics, the left is churning out tens of thousands of new brainwashed youths each year. Yes, they are some young people that are conservative and understand that is going on, but they are out-numbered two or three to one by the indoctrinated.
Finally, I encourage all AMAC members to take a serious look at how the European Union and how many of its member nations operate from an economic perspective. That is the model were being pushed towards. The EU overall is growing at less than 1 percent a year. A 1 percent GDP growth rate is consider a great year for the EU. The member nations to the south, as in France, Spain, Italy, Greece and others all are highly regulated economies, have crushing tax rates, have double-digit unemployment, rising levels of inflation and people trying desperately to hide what little savings they have from their governments. This is the future nirvana or utopia that the Progressives (Socialists) in this country are trying to impose on the United States. If they are allowed to complete our transformation process to this low-growth, hyper-regulated model, there will be NO going back.
What's Your Opinion?
Are you a member?
If so, what is the advantage of subscribing to AMAC?
Bring back American factories.
Far too much, has been sent to Communist China.
Bring back American jobs now.
If you are retired you want high interest rates and low inflation. If you are young a struggling you would want low interest rates and moderate inflation then your mortgage shrinks thru dollar devaluation.
Public education and mainstream media are doing an excellent job of indoctrination of the young in this country.
If the younger generation ever wakes up to the fact that they’ve been brainwashed and taken to the cleaners, it will be all over for the Democrats. And all it would take would be for a few people that the young idolize to start asking hard questions about the national debt and the consequences of out-of-control spending. Despite decades of indoctrination, the political winds could shift quickly.
Once that hard reality sets in, it could mark the sudden end of the era of liberalism. Democrats must be very nervous about this potential awakening.
Abolish corporate income taxes (which are double-taxation) and your wish will be granted.
Otherwise, you're just a union thug in disguise.
Extremely low interest rates have caused many retirees to jump into higher yielding investments that may not be suitable for them given their age. While no one is forcing them to take on this extra risk, a lot of seniors feel compelled to chase high yields to meet expenses and keep up with rising costs. But chasing yields in retirement can have disastrous results.
I haven’t joined yet, but was thinking about it.
A 5 year membership is only $12 yr., so doesn’t cost too much to try it out. Too many seniors have joined AARP and believe all their propaganda.
I have (never) belonged to a union.
Bring back United States factories. Now.
How will bringing them back to have them go bankrupt help anything, Jethro?
I never joined AARP but I am interested in alternatives that would provide discounts and information beneficial to seniors.
There are 27 Right-To-Work states to re-build the USA manufacturing base. Removing all regulations and taxes won't turn the off shoring(off whoring) herd. They want to import slave made products and with it their standard of living. Tariffs and a NRST and eliminating the income tax would bring America back.
Lucky for the Democrats, that's not likely to happen.
Well obviously we need to do something to change the America-last business climate we currently have.
That goes without saying.
Just didn’t want to open that discussion too quickly. Because that one can involve a lot of controversial details.
All I know is America has sent overseas during the entire last generation, millions and millions of formerly American jobs.
I say it is time to bring them back.
He calls you a union thug then he must be a Communist Sympathizer. LOL.
So what happens when the foreign companies who employ American workers, decide to act in kind?
Why shouldn’t people continue working as they are able? From an employers perspective they work both better and harder than the kids. From an elders perspective, lots of healthy people get sick & die shortly after retirement - due to lack of ‘meaning’for living? Best might be phased retirement - go from 40 to 30 to 20 hours per week over a several year period.
Biggest downside to working elders is they plug up the jobs pipeline for the kids. Hey kids - do the jobs others won’t, do them well, and maybe companies will hire you instead of us old farts.
Admittedly it gets complicated real quick.
But America needs jobs.
All our current problems, can be traced directly to sending American jobs to other countries.
Including our looming huge military budget problem.
Bring back American jobs.
They already slap tariffs on our products THEY ARE ALREADY RETALIATING. We're the only low/no tariff country INT THE ENTIRE WORLD.
What you are saying is they are losers that have no intellectual, political or spiritual pursuits to work on in retirement, so work 'till you die.
Enslaved again. No escape.
Excellent post! I agree. The root problem are dumned down brainwashed voters. Elections involve basic math. You have to win the most votes. We need better candidates but that is not enough. We have to find ways to reach the lost young people.
Simple enough....change the tax code.
If you are able to work when you’re older and want to, then more power to you! Some people would still like to have the time to volunteer to help their church or community, visit grandkids and check-off some items from the bucket list, though.
Think of it this way, if someone uses “union” as a worn out excuse to shut down an argument about outsourcing, then more than likely that individual has a vested interest in outsourcing jobs, and importing foreign workers, which means they’re making profit from slave labor in communist countries, and are probably a card carrying RINO or democrat troll. Private sector union membership is at the lowest it has ever been since WWII. Government unions on the other hand are booming.
These are the same people who are backing the D and R bipartisan amnesty bill now.
Information is free for the price of some surfing time.
AAA offers real services and the exact same discounts. Most motels, hotels,movies, some public transport and many eateries have Senior pricing with no need for any membership.
AARP just wants 1) your dues and 2) the ability to count you as leverage for their lobbying.
Thanks for posting. Very interesting and all too true.
Also, I’m interested in AMAC. I hear their ads on Bill Bennett’s Morning in America.
Are you an AMAC member? I know I want nothing to do with the 0bamaRobertscare-loving, insurance-pushing, liberal AARP.