pensions are gone, the 401k system is not working and will not work
employers are putting less and less into employee retirement, SS is in trouble
will we all have to work till we die?
2006-11-11 04:17:46 · 12 answers · asked by anonacoup 7 in Politics & Government ➔ Other - Politics & Government
some try to say its all OUR responsibility, thats a falsehood
99% of it is out of our control
and as far as saving, I like most, am having a very difficult time making ends meet, and I live very very modestly
2006-11-11 04:25:14 · update #1
Yes a lot of people are helpless and would need to work until they cannot move, and it's pathetic. The world is unfair, let's face it. The only thing which might make you feel better is you're already better than millions of people living in Africa and other 3rd world countries where people are starving. So don't worry too much, there are enough good people in this Country to help those in need.
2006-11-11 04:35:05 · answer #1 · answered by longliveabcdefg 7 · 0⤊ 1⤋
I guess it depends on how old you are. If you are nearing your retirement years, there may not be much you can do beyond taking a second job.
If you are a younger person, you still have plenty of options. Don't get into the mindset that only the government or your employer can take care of you....take charge of your own retirement. Start saving you money NOW. There are a multitude of companies out there that provide retirement investment programs. Or, learn a little about investing and finance and start one of your own. Even a relatively low-risk investment strategy is going to pay out more than a government pension.
I would encourage all young people to do this. Government programs are cut or changed all the time, and they typically don't pay very well. Personally, I plan my life under the assumption that SS will be gone long before I reach retirement, and that the SS taxes I pay are simply a sunk cost. If the system is still around when I reach retirement, then it's like a nice little bonus...but I'll be ready if it's not.
Take control of your own life. Not only will you be more prosperous, you'll have more freedom and confidence as well.
2006-11-11 04:29:18 · answer #2 · answered by timm1776 5 · 0⤊ 1⤋
It'll be tough times. Thanks to "pension reform", employers don't have to pay your pension or other benefits like health benefits you've been promised. Benefits are being taken away AFTER retirement. This is really serious and largely ignored-we just want to believe our company won't do that to us after 20 or 30 years. No matter how solid your company seems, don't count on it! 401ks are still the best option because it's your money. But save early.... saving a small % early is better that a large percentage late!
2006-11-11 04:43:20 · answer #3 · answered by Middleclassandnotquiet 6 · 1⤊ 0⤋
If it's possible, downsize, and put money aside for retirement. check Internet for retirement insurance plans.If worse comes to worse, you could always move to a low cost living area. For example, living costs in Texas are much less than in Mass. If you should have extra cash, then investing in realestate is always good, especially now, since the prices have gone down.
2006-11-11 04:23:46 · answer #4 · answered by bluebyou 4 · 0⤊ 0⤋
You ain't seen nothing yet.
Watch happens when the Democrats put the higher taxes back on dividends and capital gains.
Democrats hate they stock market.
(Even though they own hundreds of millions in stock, themselves.)
Pension Plans & 401ks are going to be hurt.
WE PUT THE DEMOCRATS IN POWER, AND WE DESERVE TO BE RUINED.
2006-11-11 04:25:29 · answer #5 · answered by Anonymous · 1⤊ 0⤋
THERE IS ONLY ONE WAY TO SAVE SOCIAL SECURITY!
The American Voters must FORCE the US Congress and Senate to TERMINATE THEIR LAVISH RETIREMENT PROGRAM, and put THEMSELVES UNDER THE SOCIAL SECURITY RETIREMENT SYSTEM, JUST LIKE THE REST OF US!
Then, and only then, will they stop STEALING the Money that WE are FORCED to pay into Social Security.
2006-11-11 04:50:30 · answer #6 · answered by Sentinel 5 · 0⤊ 0⤋
i have no idea i'm getting up thier where this really worry me a lot . i try to put as much back as possible but know it want be enough when i retire
2006-11-11 04:22:55 · answer #7 · answered by ? 6 · 0⤊ 0⤋
OMG I hope not. I have only stayed at my sucky job for the pension it better be there or I wasted 20yrs
2006-11-11 04:21:18 · answer #8 · answered by uknowme 6 · 2⤊ 0⤋
Don't leave it to someone else to secure YOUR future. Invest in savings bonds, RRSP's, and put money away so that you don't have to work past retirement age. If you don't, then you have no one else to blame but yourself ... the government isn't to blame for your lack of preperation.
2006-11-11 04:21:35 · answer #9 · answered by Jaded 5 · 1⤊ 1⤋
Yes you will, and the politicians will convince many of the ignorant dumbasses who vote that it is for their own good.
2006-11-11 04:20:53 · answer #10 · answered by Anonymous · 1⤊ 0⤋