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Old 08-15-2017, 07:31 AM
 
3,268 posts, read 3,303,482 times
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Quote:
Originally Posted by Ninotchka P View Post
We are going to have a retirement crisis in this country and it's gonna be ugly.
Why? Many people are working well past the retirement age and are saving properly. It's the idiots who aren't planning properly and expect the government to take care of them who will be in trouble. People simply can't retire as early as they used to which seems ok as most people are aging better
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Old 08-15-2017, 07:39 AM
 
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The other problem is that many of the people who aren't retiring are making a lot of money in a job that frankly they don't deserve any more. I mostly think of teachers and nurses here. Many nurses are working at hospitals until they are well into their 70s making a LOT. Hospital admins are mad because a much younger person with more energy and motivation are willing to do the job for a lot less. This will only be happening more and more.
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Old 08-15-2017, 07:46 AM
 
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Quote:
Originally Posted by Whatsnext75 View Post
Why? Many people are working well past the retirement age and are saving properly. It's the idiots who aren't planning properly and expect the government to take care of them who will be in trouble. People simply can't retire as early as they used to which seems ok as most people are aging better
No, many people think they can work past retirement age but a few years into their plan they realize they can't for health reasons. Many people aren't saving properly for retirement and think Social Security will be enough to live off of.
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Old 08-15-2017, 07:48 AM
 
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They might have other funds in addition to social security
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Old 08-15-2017, 07:52 AM
 
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Quote:
Originally Posted by Whatsnext75 View Post
They might have other funds in addition to social security
You'd be amazed how many people don't contribute to a 401k or took hardship withdrawals they could never repay. It's a disaster in the making since the oldest boomers can still try to get by in the workforce for another few years if they're lucky. Some of them are seriously delusional and think they can just toil away at work into their 80's.
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Old 08-15-2017, 08:18 AM
 
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Well if you have an easy job where you just sit at a desk...you can maybe make it work.
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Old 08-15-2017, 08:26 AM
 
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Quote:
Originally Posted by Whatsnext75 View Post
Well if you have an easy job where you just sit at a desk...you can maybe make it work.
Maybe. Assuming you don't get fired first.
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Old 08-15-2017, 08:33 AM
 
1,897 posts, read 1,381,072 times
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Quote:
Originally Posted by Dm84 View Post
You'd be amazed how many people don't contribute to a 401k or took hardship withdrawals they could never repay. It's a disaster in the making.
While there is some truth to this, based on what I've seen this is overblown by the media (surprise). Same with Social Security, benefits may get reduced slightly and retirement age pushed back a bit, however it's not going away.

The real ticking time bomb are underfunded public pensions.
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Old 08-15-2017, 08:39 AM
 
Location: The Triad
34,090 posts, read 82,528,650 times
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Quote:
Originally Posted by MrLinderman View Post
Yup.

For every person (like the majority of folks on this board) who manages their CC debt to keep it cleared off, there are 2 or 3 out in the real world who are maxed out making minimum payments in an effort to keep up. For every person here who contributes a decent amount to retirement there are 3 or 4 who will" worry about it later." For everyone one of us who tries to keep their car costs as low as reasonably possible, there are 6 or 7 in the real world who buy cars they can't afford and stretch the loans out to 6 or 7 years.

Just because someone looks like they are doing well doesn't actually mean that they are.

https://www.youtube.com/watch?v=pakejV8HPSM
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Old 08-15-2017, 08:54 AM
 
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Quote:
Originally Posted by Dm84 View Post
Maybe. Assuming you don't get fired first.
I dont know why but this made me laugh. I guess people are just screwed.
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