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A looming retirement crisis threatens us and future generations. Here's how we can avoid it


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  • Platinum Contributing Member
25 minutes ago, Mainecat said:

I have been warning you younger guys about this.....tent cities.

https://www.cnbc.com/amp/2019/02/10/the-looming-retirement-crisis-in-america.html

What's the answer MC?   More FICA taxes?   

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people should take personal responsibility for their retirement but the vast majority of americans are stupid with money even if they had a good role model never mind those wihtout one..

IMO employee contributing to the 401k at least to the employers match and for those with no match to 5% of their income should be required not optional and withdrawing prior to retirement not allowed.  

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11 minutes ago, Angry ginger said:

people should take personal responsibility for their retirement but the vast majority of americans are stupid with money even if they had a good role model never mind those wihtout one..

IMO employee contributing to the 401k at least to the employers match and for those with no match to 5% of their income should be required not optional and withdrawing prior to retirement not allowed.  

This.  But its always someone else's fault.

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Just now, ArcticCrusher said:

This.  But its always someone else's fault.

No matter what your employer is putting away for you at least 10-15% of take home should be saved.  

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Just now, ArcticCrusher said:

Sure, but I gotta have that boat first.  Priorities.

And Iphone's and Ipads and Netflix, Hulu accounts and etc......

Its amazing what people spend money on these days.   When I was growing up we were upper middle class and it was a treat to go out to eat for pizza and ice cream.   Your monthly bills were home, auto, utilities, cable and newspaper.....that's about it.   Now people pay monthly for dozens and dozens of things.   Sure some might be small like $10 a month but it adds up.  

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Wages are definitely too low for the mass population. I don't really see anyway to force that change. The same people who are screwing the workers and hoarding the cash are the same ones who own the media sources and they have brainwashed the masses to think this is good. Our govt and our currency will default sooner or later, then you can all point fingers. 

Blame Democrats! Blame Republicans! Blame yourselves. 

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7 minutes ago, Anler said:

Wages are definitely too low for the mass population. I don't really see anyway to force that change. The same people who are screwing the workers and hoarding the cash are the same ones who own the media sources and they have brainwashed the masses to think this is good. Our govt and our currency will default sooner or later, then you can all point fingers. 

Blame Democrats! Blame Republicans! Blame yourselves. 

What percentage of employers fall into this category?   Do you?   

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Just now, Mainecat said:

Yup get rid of the cap.

Can we still cheat the system like you did?  

Love people who want change AFTER they've made theirs.   Its inspirational.  

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Just now, Anler said:

I'm not a billionaire so I am going to say no. 

So billionaires don't treat their employee's well?  Is that the distinction?   

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This is not my problem because I am 63. It’s your problem and pointing fingers on people who don’t put money is away is the usual excuse. The facts point to workers are underpaid and will be unemployed down the road because of age or disability when they are 65. Millions will exhaust their equities in their homes and will face evictions and their homes will be foreclosed and sold for cheap lowering everyone’s home values.

doing nothing now is insane. It’s time to eliminate the cap and have a national healthcare program and give all Americans breathing room instead of rewarding the 1% at every turn.

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