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I think like always some do and some don't invest in their future. Always been the same but government programs certainly mean more conning themselves. In the past with huge boomer popualtion contributing and not withdrawing the government programs were much more secure than now.
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Globalization is here to stay; the American economy is descending, emerging economies are ascending. American workers are competing with teens for low-wage jobs. The sooner we accept downward mobility, the better off we will be for it.
Unless you want the American working class to be dragged kicking and screaming into the 21st century global economy.
The key there is "unskilled" American workers are competing with teens for low-wage jobs.
The key there is "unskilled" American workers are competing with teens for low-wage jobs.
how is it different? The unskilled normally ARE the teens. They work low wage jobs because even if they are skilled, they are still teens and need to go to school
most people don't count out of teen years after working them as unskilled. Even going to college adds "skills" to someone, they just don't know how to market it because they don't want to work in "uncomfortable" jobs
Truth.
My wife and I meet the employer match on 401k and max our IRAs each year. We do not know anyone else that does this.
Wait a few years and you will. Older people have very high savings rates on average, to make up for low savings rates when young. (I'm a researcher who specializes in retirement issues.)
You can't afford not to - period. Look, I've been there, and I'm telling you it can be done. I don't make a lot of money - less than $70K last year, and my wife only works a few hours a week. We have 4 kids, and yet we still manage to live comfortably and save a decent amount every month. I've been on the other side of the fence, and it was only a matter of making a conscious decision to charge our financial habits that did it for us. If you want to do it, you can, you just have to make it a priority - and no amount of arguing will make me believe otherwise.
I am not talking about households that make almost $70,000 a year. I am talking about households that make $30,000 a year or less, people who really have nothing left after they pay for housing, utilities and transportation (and driving clunkers, not expensive cars). And I am not one of those people but I do know people in that situation.
I also know people who say they have no money but somehow have money to hang out in the bar several times a week. I don't understand that. No wonder they have no money.
So I get what you are saying, that a lot of people can make better choices and would have money to put away for retirement. I was only referring to those who really only have enough money to make ends meet - and maybe not even that.
But you are right, even that is a choice. They could get an education or training so they can make more money and put themselves in a better financial situation.
Some also are content to be on government assistance and figure the government is taking care of them now and will take care of them after retirement too.
Nope. I offer the Ownership Society to ALL working Americans. There is NO ownership in prison, only owneeship.
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