Thank the Liberals who ruined the economy via their Muslim God.
Could be because 28+ years of dem/RINO rule have left them flat, from high taxes, low-paying jobs, unemployment, and regulations.
What they are saying is that many more Americans totally depended on government handouts to survive, that have nothing but government handouts going into the future. Some of us actually supported ourselves and saved for the future. My wife and I will be fine.
“-——— and are dipping into savings to care for aging parents.”
I don’t believe this.
Of course it happens,but most elderly parents are doing just fine.
We were a lucky generation,and most of us have pensions——and accrued great equity in our homes.
I am a senior,and know many seniors,and we are all doing very well-——not rich but able to care for ourselves.
We were a very fortunate generation.
.
8 years of an Obama economy and my 401k only maintained its value because I contributed to it.
I’d be more than on my way under any normal economy.
The time to start planning for retirement is when you get your first job. Yeah, I know, not much income. But you plan for retirement by creating good financial habits (such as a budget, and savings)and paying off credit cards each month.
It is not always possible (especially when you first start out in life but with good habits it will get easier).
As a friend once said, the only thing
golden about my golden years is my urine.
High average debt, and are paying off their children’s educations..
Well.. we’ve sort of ID’d the problem, haven’t we? Pay off your debts and let Junior handle his own damned college costs.
The biggest drag on me is ObamaCare at $1000 a month.
And I think I will file for the Ponzi scheme when I reach 62, although I understand the arguments to wait until 70.
No matter - Uncle Sugar will pay the bills.
It would have helped if the Social Security “Trust Fund” had been invested in real investments instead of in IOUs written by the government to itself - a meaningless “transaction” which is actually nothing more than a record of money which was taken in “payroll taxes” under the pretense of being invested to fund future retirement benefits but actually was spent on current expenses. In order to use the bonds in the trust “fund,” a demand would have to be made on the US Treasury to redeem those “safe government bonds.”But, no problem, right? The Treasury has a huge surplus to easily cover that expense. </sarcasm>
Some patriots advocate declining to collect Social Security if you can afford to do that - but considering the alternatives, anyone who can should pass that money down to their children to finance their retirement, since they are the ones from whom the money is taken to pay your benefits.
I’m 59, self employed and if I’m not working at 70 then I’m dead. I was never expecting Social Security and I doubt my Teamsters money will still be there.
I wonder if the 15 million number includes those who expect an Illinois pension?
We know that.
Of course the extremely low rates of return on CDs, bonds, and similar less volatile investments have radically changed the amount of money needed for a comfortable retirement. For that we can thank the Federal Reserve.
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Is that a realistic goal? The older I get the less materialistic I am getting. All I want is a decent car, golf clubs, a PC and a iphone.
I live on around $800/month now so should have no real problem maintaining my standard of living.
It’s because they were told that social security was going to take care of everything.