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Old 03-22-2012, 02:23 AM
 
1,081 posts, read 1,683,378 times
Reputation: 1490

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I was just watching a trailer of that film the end of the roadhttp://www.endoftheroadfilm.com/. Although its a bit doom and gloom - there is a grain of truth in it - Western Economies are running out of money, and unless something changes dramatically there is going a huge amount of people living longer - and much less pension - the majority are going to have to work until there into there 70s(thats if they can find a job)

Being mid 30s, no kids - Supposed to the peak of my Career from now until 50 - I am supposed to be well off and comfortable, this is as good as it gets - Although all in all I don't feel any richer than I was a student - Most jobs pay OK, but there so much stress and insecurity all for enough to pay the bills.

Its getting me worried - I can see when you hit 55 then employers will start pushing you out in favour of younger employees -

Other the standard advice of save for a pension, what can we do to prepare for later middle age, and old age.
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Old 03-22-2012, 02:41 AM
 
Location: Metro Detroit, Michigan
11,786 posts, read 13,107,368 times
Reputation: 12500
It's very difficult to plan. The ones on the very top of the pyramid will do spectacular, and they are the few who will never have to worry, unlike you and me. The business class figured out than in the short term, cutting expenses such as pensions, 401K contributions, health insurance, and so forth was great for the bottom line... In the long term though, this is going to simply create a much more competitive business environment, with fewer customers in a position to purchase their goods and services. This new ultracompetitive environment will lead to an uneven distribution of wealth and power. We have already seen that. A small majority will conquer the masses. Political processes are simply controlled with money. Think about the obvious stuff... Campaign contributions, which I believe are now unlimited? Not sure, I will have to check.

Anyways, last time I checked, COL keeps going up, while people's wages have stagnated, or even dropped. This has been 30 years in the making, and still too few are waking up to it. When people start to grumble, the corperate controlled media will chastise them and make them appear foolish in their pursuit. Divided, we fall, and people have been trained to hate unions by their masters. Big surprise, union wages on average are better, but good luck getting representation. I don't begrudge a union worker doing my job making more money... The more people actually paying taxes, the better. We simply don't have enough tax payers these days, and corporations have found every excuse to dodge them while profiting in our country. Much more greedy than those darned ol TAX PAYING union workers if you ask me

Just a thought... How many here have a pension to look forward to? If your pensions were eliminated, did they do the same for the guy on the top??? In more stable economies, it's the CEO that suffers the most financially when his company is not doing well.

Anyways... How do you honestly plan with such a rigged game? When anyone finds out, do let me know
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Old 03-22-2012, 01:01 PM
 
1,081 posts, read 1,683,378 times
Reputation: 1490
Quote:
Originally Posted by andywire View Post
It's very difficult to plan. The ones on the very top of the pyramid will do spectacular, and they are the few who will never have to worry, unlike you and me. The business class figured out than in the short term, cutting expenses such as pensions, 401K contributions, health insurance, and so forth was great for the bottom line... In the long term though, this is going to simply create a much more competitive business environment, with fewer customers in a position to purchase their goods and services. This new ultracompetitive environment will lead to an uneven distribution of wealth and power. We have already seen that. A small majority will conquer the masses. Political processes are simply controlled with money. Think about the obvious stuff... Campaign contributions, which I believe are now unlimited? Not sure, I will have to check.

Anyways, last time I checked, COL keeps going up, while people's wages have stagnated, or even dropped. This has been 30 years in the making, and still too few are waking up to it. When people start to grumble, the corperate controlled media will chastise them and make them appear foolish in their pursuit. Divided, we fall, and people have been trained to hate unions by their masters. Big surprise, union wages on average are better, but good luck getting representation. I don't begrudge a union worker doing my job making more money... The more people actually paying taxes, the better. We simply don't have enough tax payers these days, and corporations have found every excuse to dodge them while profiting in our country. Much more greedy than those darned ol TAX PAYING union workers if you ask me

Just a thought... How many here have a pension to look forward to? If your pensions were eliminated, did they do the same for the guy on the top??? In more stable economies, it's the CEO that suffers the most financially when his company is not doing well.

Anyways... How do you honestly plan with such a rigged game? When anyone finds out, do let me know
Yep - and its going to get worse - aging parents to support, kids to raise - and each employee/business being squeezed more and more for less rewards.

There is a lot of denial out there about retirement, job insecurity, and state of the economy - I think people in their 20s - early 30s are actually going to have lower standard of living than their parents.

You can't have a sane conversation with most people - just denial - oh well time to watch TV and forget about all the problems.
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Old 03-23-2012, 01:19 AM
 
Location: Metro Detroit, Michigan
11,786 posts, read 13,107,368 times
Reputation: 12500
Quote:
Originally Posted by mikeyking View Post
Yep - and its going to get worse - aging parents to support, kids to raise - and each employee/business being squeezed more and more for less rewards.

There is a lot of denial out there about retirement, job insecurity, and state of the economy - I think people in their 20s - early 30s are actually going to have lower standard of living than their parents.

You can't have a sane conversation with most people - just denial - oh well time to watch TV and forget about all the problems.
Well, I'm 25, and have actually done a lot of planning fortunately. Unfortunately, I just don't feel I will ever be able to have children. It's sad, because the people who I feel should be reproducing, are avoiding it due to expenses, job security, the ability to actually see what's going on, etc... The ones who lack the foresight, or depend on the state have no problem filling in the gaps Evolution is actually working backwards in this country, and that cannot be sustainable for the long term
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Old 03-23-2012, 01:22 AM
 
Location: where people are either too stupid to leave or too stuck to move
3,998 posts, read 5,443,722 times
Reputation: 3618
Most western money is a fiat. Why dont they erase the debt and set to equilibrium or have ive been watching to much Fight Club? Probably the latter
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Old 03-23-2012, 05:33 AM
 
12,761 posts, read 24,269,380 times
Reputation: 18617
All you can do is try to stay informed, stay nimble job-wise if you can, look into jobs that might have more stability or an old-fashioned pension.
I got an RN at age 28 with the plan of being very mobile and I remember thinking, "If there's another Great Depression, I can always work nights in a nursing home." Having done that a bit through an agency, I am glad to say I don't need to do that to be employed. I came and went four times from a fat, rich, old-fashioned healthcare system that has an old-fashioned pension plan in good financial condition. I wouldn't trust it for us grunts, but the doctors and researchers and other elite-university affiliates are in the same plan, and I know they won't go under.
It took me a long time to start paying attention to such and digging in and taking care of business. I didn't really start seriously until age 48 (when returning to Old Fat Place for the fourth time).
I don't know much about "business" environments, except for two years as a software tech writer. That seemed very chaotic, especially since the job itself kept changing due to technology.
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Old 03-23-2012, 06:23 AM
 
2,138 posts, read 4,585,420 times
Reputation: 3146
Erasing the debt? I think in the next ten years you will see that. China will implode, gold prices will go through the floor, and America and Canada have the land, resources, and wherewithal to make to happen again.
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Old 03-23-2012, 06:30 AM
 
24,511 posts, read 33,871,947 times
Reputation: 12760
Quote:
Originally Posted by mikeyking View Post
Yep - and its going to get worse - aging parents to support, kids to raise - and each employee/business being squeezed more and more for less rewards.

There is a lot of denial out there about retirement, job insecurity, and state of the economy - I think people in their 20s - early 30s are actually going to have lower standard of living than their parents.

You can't have a sane conversation with most people - just denial - oh well time to watch TV and forget about all the problems.
I'm in my mid 20s and I can say for certain that I have a higher standard of living than my parents did at this age. I did cheat and live with my parents until I was 21... and that certainly help solidify my savings. But I'm feeling confident and do not share the pessimistic view that you describe. But I suppose that you just think I'm in denial.
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