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Mainecat

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

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5 minutes ago, Highmark said:

What's the answer MC?   More FICA taxes?   

Well???

Edited by racer254

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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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Anyone who doesn't contribute to a Roth that qualifies is an idiot.  

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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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This will effect even those that saved. 

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Why didn't poor people just buy more money???

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6 minutes ago, Highmark said:

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

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

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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: *40 years of stagnation*

Fuckbois: "If you can't afford to retire maybe you should have cancelled that $10/mo Pandora subscription and not eaten so much avacado toast"

 

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15 minutes ago, motonoggin said:

Why didn't poor people just buy more money???

The a.o.c. plan ??

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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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I guess the ones that did put cash aside every pay check will have to give up some of it for those that didn't...... 

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1 hour ago, Highmark said:

What's the answer MC?   More FICA taxes?   

Yup get rid of the cap.

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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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4 minutes ago, Highmark said:

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

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

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3 minutes ago, Highmark said:

Can we still cheat the system like you did?  

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

He's a Boomer. 

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Institute FICA taxes on all retirement income.  Problem solved!

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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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7 minutes ago, Highmark said:

Can we still cheat the system like you did?  

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

Explain how I cheated the system.

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