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"One out of three working Americans does not have retirement savings beyond Social Security, and about 35% of those over 65 rely almost totally on Social Security alone,"
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The population of the United States is approximately 307 million people. I can see a problem with this.
No worries. The new supposed Republican Majority in 2010 will raise the Retirement Age to 70. After struggling with fear and worry about staying employed with health benefits until your 70 years old you'll be dead by age 75.
The reality is if most people save 5-10% of their incomes throughtout their career, they will not be in the dire position they are in. Neither Republicans nor Democrats can do anything about this. Granted, not everyone is in a position to save all the time, but most can save in most years. It is called personal responsibility.
The reality is if most people save 5-10% of their incomes throughtout their career, they will not be in the dire position they are in. Neither Republicans nor Democrats can do anything about this. Granted, not everyone is in a position to save all the time, but most can save in most years. It is called personal responsibility.
It is personal responsibility. The problem is, there are fewer and fewer people who have the ability to do that.
It is personal responsibility. The problem is, there are fewer and fewer people who have the ability to do that.
In bad economic times like now, I agree. I also understand that things will get tighter for the US since others are coming up. But there were many years when we had better economic climate but people went out and overspent. Over a 30 year period, there will be many sunny days when you prepare for the rainy days.
No worries. The new supposed Republican Majority in 2010 will raise the Retirement Age to 70. After struggling with fear and worry about staying employed with health benefits until your 70 years old you'll be dead by age 75.
Problem solved.
No worries, with obama's healthcare package they won't receive much healthcare, so will probably be dead before 70. Then with obama's increased estate or DEATH tax, there will be lots to go around if you happen to make it past 70.
No worries, with obama's healthcare package they won't receive much healthcare, so will probably be dead before 70. Then with obama's increased estate or DEATH tax, there will be lots to go around if you happen to make it past 70.
"One out of three working Americans does not have retirement savings beyond Social Security, and about 35% of those over 65 rely almost totally on Social Security alone,"
**************************
The population of the United States is approximately 307 million people. I can see a problem with this.
The reality is if most people save 5-10% of their incomes throughtout their career, they will not be in the dire position they are in. Neither Republicans nor Democrats can do anything about this. Granted, not everyone is in a position to save all the time, but most can save in most years. It is called personal responsibility.
I agree in principle, but you're over simplifying.
With few pensions in the workforce, even those of us who diligently put money away for a comfortable retirement are at risk. A financial hardship due to health or lost employment can siphon your nest egg pretty quickly. You can plan and be prudent your entire career, but if you're unfortunate enough to run in to a financial sink hole at some point over your tears earning, for many it's tough to recover.
Secondly, we subsidize everything with our taxes. What we get to bring home after Uncle Sam wets his beak gets taxed again every time you turn on the light switch, fill up your tank or buy a cup of coffee. For most there's just not much left over
It is personal responsibility. The problem is, there are fewer and fewer people who have the ability to do that.
Probably going to be even more difficult now that our health care will cost us a huge amount and the fact that we have been taxed to death and will be taxed even more now. What a shame. Oh well, they can just gas us.
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