‘More than half of all working-age households are expected to be at risk of having to cut back their standard of living, often making painful adjustments, when they retire’
Didn’t we all realize we would have to scale back our lifestyles in retirement?? The false promise of a lifestyle of grandeur in retirement is manipulating naive people into believing the Government will give you everything you have ever wanted. Just keep electing them and they will even the playing field.....never mind that you may have spent your money unwisely during your working life. These Socialists don’t want equality of opportunity, they want equality of outcome. What they refuse to acknowledge is the SOME PEOPLE WILL WORK HARDER TO HAVE WHAT THEY WANT. Punishing the producers in this country will have an adverse effect on their production. We are spiraling down the plughole and the top of our Government is providing the water.
I blame the ‘never pay off your mortgage’ crowd in some part. That idea was pushed so much during the good times and many thought they could make more money than what they saved by paying off their mortgage. While true in some cases, you can control your expenses, but cannot always do the same with income, especially investment returns.