Retirement savings ....Yikes !

[KTurner]

When Work Is Punished: The Tragedy Of America's Welfare State | Zero Hedge

The govt is rewarding dependence on the govt. If a person gets a raise that pushes them past certain points on that graph, their income drops ~$10k due to losing govt benefits. That right there is a major incentive to not work hard, to not try for that raise or promotion, etc. What makes anyone think that people subjected to that type of incentive system are going to look at "retirement" any differently?

Keith

 

[zzvyb6]

All the people who squandered their income instead of saving it, had too many kids, blew off chances to get an education, drank, smoked, injectd or gambled their money will be voting. And they will vote to seize the assets of people who did save for their future. It's happening in Europe TODAY (March 19th, 2013). Any saving over $25,000 is being seized.

This is the price you pay for electing morons, paying people to have children via public assistance, making jail attractive, providing years of unemployment compensation, and worshipping Hollywood 'stars' that urge your kids to be drunk, stoned, lazy, fat and stupid.

 

[LJH]

All the people who squandered their income instead of saving it, had too many kids, blew off chances to get an education, drank, smoked, injectd or gambled their money will be voting. And they will vote to seize the assets of people who did save for their future. It's happening in Europe TODAY (March 19th, 2013). Any saving over $25,000 is being seized.

This is the price you pay for electing morons, paying people to have children via public assistance, making jail attractive, providing years of unemployment compensation, and worshipping Hollywood 'stars' that urge your kids to be drunk, stoned, lazy, fat and stupid.

Harsh. And I agree 100% There are more of 'them' than there are of 'us'. At some point, probably sooner than later, the balance has to tip and there won't be enough producers to support the parasites. It ain't gonna be pretty.

 

[DABSGT]

This is the price you pay for electing morons, paying people to have children via public assistance, making jail attractive, providing years of unemployment compensation, and worshipping Hollywood 'stars' that urge your kids to be drunk, stoned, lazy, fat and stupid.

So Bill how do you really feel?
Only joking, it so true sadly.

Sent from my iPad using TractorByNet

 

[DKCDKC]

A friend of mine refers to recent elections as being between "free stuff" and "responsibility." Unfortunately "free stuff" seems to be on a winning streak. When you have more people who receive from the government - jobs, grants, welfare, etc.- than you have those who contribute, you have nit a slippery slope, with little way back.

There are problems with having retirement funds in the market... But there are few alternatives. Cash loses to inflation. Gold is up and down. Real estate... ? There are no good options. Since none of us can know the future, we just have to diversify and keep flexible ... And hope. (And have a big garden.)

 

[Gator6x4]

The slippery slide into the financial abyss started in the middle eighties. Company retirement plans morphed into matching fund 401(k's). A large percentage of workers failed to utilize or take advantage of a 401(k) account, electing instead to buy a boat, RTV, or a condo at the beach. The high school drop out rate increased. The local burger barn only needs so many minimum wage burger turners. The labor market switched from a "labor" market to a tech market. Companies were looking for employees with some college not high school drop outs. Tax incentives were given and are still being given to out sourcing jobs and manufacturing.

Politician refused to close "Tax" loop holes or stop providing entitlement incentives to large corporations resulting in some making billions, paying no taxes and getting millions back. Jobs were again lost.

America was faced with a dilemma, a large population not making enough money each week to provide housing, food and clothing for themselves and dependents. Social program were and continue to be strained. Reliance on food stamps, rental subsidies, utility subsides increased by leaps and bounds starting in 2001.

In 2008 when the economy tanked the population numbers that were living on the margins really increased, some estimate as much as ten fold. The number of children receiving school meal programs increased. Some school districts had/have ninety percent of elementary school students receiving free meals. Some are provided breakfast and lunch.

Middle class America is disappearing. Salaries for the middle class have remained flat since the middle eighties. The top earners have all fared very well. A middle class worker of today in all likelihood will not receive the monetary incentives his/her parents received for a weeks work. The worker of today will not be able to retire at an age any where near 65 years old. A worker entering the work force today will in all likelihood see SS and Medicare discontinued somewhere in the future.

I personally know workers who cannot retire at age 62-63 because they cannot afford health insurance coverage for themselves and spouse before Medicare starts at age 65. One who has had a couple of bouts with cancer advised he received insurance quotes of 1500-2000 per month for a family plan.

Society has winked/winked/grinned about drug addicts and other retiring in their twenties because they have a dependency problem our are traumatize by some phobia and unable to work. Some body has to provide funds for the dead beats to do nothing.

The next ten years will be testing ones for America. Do we degenerate into a third world country and let people sleep in boxes and starve or continue with some limited social programs to prevent such from happening. Do we stop electing idiots to represent the country or continue as usual electing those that create problems, not solve them?

Seniors watched as CD's stopped paying interest and their nest eggs dwindled because they were now tapping into the capital to maintain anywhere near a comfortable life style. The Federal Government printed money and loaned it to Banks at .25 percent interest rates insuring no returns on individual investments. Zero percent interest became the thing for large purchases.

People have started taking risks with their money in an attempt to stay even. The Stock Market is climbing but I would not hold my breath on that fickle industry making money for anyone except Wall Street when they are bailed out by the American Tax Payer.

 

[grsthegreat]

first off i want to say that Cyprus turned down the stealing of their accounts......there not going to tax savings accounts.

not that it cant happen.

Ive been saving for my retirement for a long time. i knew govt wouldnt be there to help me...and it shouldnt.

Everything i own is paid for in full, and i now have enough to comfortably survive a retirement, even though im not planing on retiring fully for some time. I've been semi retired for about 4 years now.

I work when i want. its real nice and i recommend it to everyone.

I was raised to take care of myself and not to rely on the government to give me anything. I cant stand it that there are so many people out there willing to go into debt for $50,000 so they can have a new truck. A friend of mine just did that last month...i wanted to strangle him. Hes over 50 YO and signed a 6 year loan. Still has nearly 20 years left on his home loan. hes NUTS.

Why cant he see that hes being forced to work into his late 70's before he will be able to retire just to pay off the toys. I just cant understand it.


Well enough of my ranting... i need to go bring in the horses from pasture.

 

[npalen]

It's all about living within one's means. Buy nothing on credit except a home.

 

[BuzzardA91]

All the people who squandered their income instead of saving it, had too many kids, blew off chances to get an education, drank, smoked, injectd or gambled their money will be voting. And they will vote to seize the assets of people who did save for their future. It's happening in Europe TODAY (March 19th, 2013). Any saving over $25,000 is being seized.

This is the price you pay for electing morons, paying people to have children via public assistance, making jail attractive, providing years of unemployment compensation, and worshipping Hollywood 'stars' that urge your kids to be drunk, stoned, lazy, fat and stupid.

Any savings over $25,000 being seized in Europe? Anyone........

 

[TCJatko]

Relax, everyone. Everything's going to be great. Look who's in charge; a great genius with the perfect plan.