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Thanks for that retirement savings link; been looking for that data. Yeah, forget the saving account. Retirement is going to be the real issue. Lot of people

by madengr 10y ago

Thanks for that retirement savings link; been looking for that data. Yeah, forget the saving account. Retirement is going to be the real issue. Lot of people going to be eating dog food in the future. Pensions for anyone under 45 are pretty much non existent, with a few exceptions. Even if they are, the companies tend to screw with them. Our company just froze the salary for pension calculations (not that I have one), so somebody could work another 20 years and retire at a percentage of today's pay. At least I get a crappy annuity and 401k matching. New hires now get neither.

jwatte 10y ago
You get at least something from social security, which every worker pays to sustain, and society then promises to keep going. (Worker/retiree ratio changes are going to be a problem.) Thus, retirement savings is not the top problem. However, the truth is that a majority of Americans worry about how to pay food and rent every month. This is not because they are all irresponsible human beings, but because American society makes it really freaking terrible to be in the bottom half. Retirement is out of reach; saving for an emergency has to fight with rent has to fight with prescription medications has to fight with clothes for your kids.
pcardh0 10y ago
Millions of government workers have pensions. Most of them are quite generous.