Retirement is a word rooted in history. It will fade as quickly into the sunset as the word “pension” has gone.
401k plans were supposed to supplant the pensions our parents generation enjoyed. Once employers started to cut back on contributions, which itself followed the drop in financial market values, workers got the idea that they better stay healthy because Social Security isn’t expected to provide much benefit. And few workers are enjoying salary raises, unless they’re in unions and even those people are seeing cutbacks in head counts.
Certainly, it won’t cover the increases in property taxes being levied across the country to prop up local budgetary shortfalls. So while expenses go up, the gap between income from whatever source and outgo will widen.
I expect that my current non-equity brokerage position is just the current step on my way to a job flipping burgers or making lattes. The intangible aspect is the WHERE part.
I blame Reaganomics. My grandfather is 82, and has to work as a greeter at WalMart to make ends meet. He should be in Florida enjoying his retirement playing shuffleboard with his friends Mr. Feeney and Mr. DeFazio. I cry over his plight every night.
Thanks to Reagonomics, I was soon to retire. Can’t now due to Obamanamics.
Rosie, sounds like you are part of the under-class. With Obamanamics, many more will be there. One day you’ll wake up and realize, those tears are for your own plight in life from your own decisions.
Remember a govt that is big enough to give you everything is also strong enough to take it away. – paraphrase from founding father supporting the role of small govt.
pre-dates both Reagan and Obama. C’mon people.
I have always been thankful to be part of my cynical generation. I have never anticipated a pension nor do I count on Social Security being solvent by the time I retire, so I am already saving. It’s the boomers who got stuck in the transition between defined-benefit and defined-contribution who are suffering.
Social Security is not a reliable way to fund retirement, because the COL adjustments are tied to an index which understates inflation. I suspect the 82 year old Walmart greeters are a victim of this. When you lose 1% a year in buying power of your income, after 20 years of retirement it really adds up.
why did reaganomics cause your grandfather to have to work now? you make idiotic remarks and never back them up. did you grampy make any effort to prepare for retirement or, like you, expect someone else to pay for everything? you will REALLY be crying when the VAT is introduced by your savior Obama as everyone will pay that. have a nice weekend ms. cretin.
Score another one for Rosie!!! Her satire duped you all. SHE’S DOING THIS TO MAKE FUN OF LIBS, PEOPLE!!! “Mr. Feeney and Mr. DeFazio”–you guys never watched LaVerne and Shirley??
why…whatever are you talking about Joe Mama. My poor poor grandpa’s feet are so sore from standing and greeting WalMart shoppers that when he comes home from work at night all he wants to do is sit down in his Barc-O-Lounger and have himself a cold Shotz beer! ;)
Blame it on Reagan, blame it on Bush, blame on Obama all you want, but the reality is if you didn’t do anything with your life for 65+ years to build up your retirement savings, stop putting the blame on other people, grab a mirror and look right at it.
And yes I realize some very hardworking retirees did loose money on this recession, but what everyone fails to mention is that the majority of “intelligent” retirees are still doing just fine.
As a mature worker (42 years in insurance) I find it comical that some young pricks suggest that prior planning would have protected older workers. What do you know kids? Nothing. When intelligent workers rely on the financial “experts” for advise, that’s the best they can do. How would you feel if you did everything right for 42 years then some young jerk-offs destroyed the economy by ingoring the standards that built the financial industry and made risky decisions causing you to lose 40% of your savings? Greed and lack of discipline killed investments…..not older workers.
Retirement is a word rooted in history. It will fade as quickly into the sunset as the word “pension” has gone.
401k plans were supposed to supplant the pensions our parents generation enjoyed. Once employers started to cut back on contributions, which itself followed the drop in financial market values, workers got the idea that they better stay healthy because Social Security isn’t expected to provide much benefit. And few workers are enjoying salary raises, unless they’re in unions and even those people are seeing cutbacks in head counts.
Certainly, it won’t cover the increases in property taxes being levied across the country to prop up local budgetary shortfalls. So while expenses go up, the gap between income from whatever source and outgo will widen.
I expect that my current non-equity brokerage position is just the current step on my way to a job flipping burgers or making lattes. The intangible aspect is the WHERE part.
I blame Reaganomics. My grandfather is 82, and has to work as a greeter at WalMart to make ends meet. He should be in Florida enjoying his retirement playing shuffleboard with his friends Mr. Feeney and Mr. DeFazio. I cry over his plight every night.
Thanks to Reagonomics, I was soon to retire. Can’t now due to Obamanamics.
Rosie, sounds like you are part of the under-class. With Obamanamics, many more will be there. One day you’ll wake up and realize, those tears are for your own plight in life from your own decisions.
Remember a govt that is big enough to give you everything is also strong enough to take it away. – paraphrase from founding father supporting the role of small govt.
pre-dates both Reagan and Obama. C’mon people.
I have always been thankful to be part of my cynical generation. I have never anticipated a pension nor do I count on Social Security being solvent by the time I retire, so I am already saving. It’s the boomers who got stuck in the transition between defined-benefit and defined-contribution who are suffering.
Social Security is not a reliable way to fund retirement, because the COL adjustments are tied to an index which understates inflation. I suspect the 82 year old Walmart greeters are a victim of this. When you lose 1% a year in buying power of your income, after 20 years of retirement it really adds up.
why did reaganomics cause your grandfather to have to work now? you make idiotic remarks and never back them up. did you grampy make any effort to prepare for retirement or, like you, expect someone else to pay for everything? you will REALLY be crying when the VAT is introduced by your savior Obama as everyone will pay that. have a nice weekend ms. cretin.
Score another one for Rosie!!! Her satire duped you all. SHE’S DOING THIS TO MAKE FUN OF LIBS, PEOPLE!!! “Mr. Feeney and Mr. DeFazio”–you guys never watched LaVerne and Shirley??
Keep it up, Rosie! I get you!
why…whatever are you talking about Joe Mama. My poor poor grandpa’s feet are so sore from standing and greeting WalMart shoppers that when he comes home from work at night all he wants to do is sit down in his Barc-O-Lounger and have himself a cold Shotz beer! ;)
So to rephrase:
Old People +
Walmart Employees +
Shuffleboard +
Florida +
Old Sitcom Reference =
Liberals?
I guess you two are just more cleverer than the rest of us.
And I thought it was just good ol’ fashioned trolling.
Hah! Got me!!!
Blame it on Reagan, blame it on Bush, blame on Obama all you want, but the reality is if you didn’t do anything with your life for 65+ years to build up your retirement savings, stop putting the blame on other people, grab a mirror and look right at it.
And yes I realize some very hardworking retirees did loose money on this recession, but what everyone fails to mention is that the majority of “intelligent” retirees are still doing just fine.
As a mature worker (42 years in insurance) I find it comical that some young pricks suggest that prior planning would have protected older workers. What do you know kids? Nothing. When intelligent workers rely on the financial “experts” for advise, that’s the best they can do. How would you feel if you did everything right for 42 years then some young jerk-offs destroyed the economy by ingoring the standards that built the financial industry and made risky decisions causing you to lose 40% of your savings? Greed and lack of discipline killed investments…..not older workers.
Your comments are a bit salty but you are right on the money.