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Aren't most retired people's money locked up in gov pension and social programs as opposed to the USA where you're expected to mostly self-fund retirement with
by itake 3y ago
Aren't most retired people's money locked up in gov pension and social programs as opposed to the USA where you're expected to mostly self-fund retirement with 401k, IRA, and savings?
So older US people have more control of their retirement funds than Europeans?
- madsbuch 3y agoI don't know how this related to robocall, but I like the question! I can only answer for Denmark, but there we have a thing called "ratepension" which I think is similar to a 401k. Retirement age in Denmark is 73 and the public pensions do only cover the bare minimums – you also need at private pension.
- itake 3y agoIn the US, the robocalls typically target seniors that aren't able to identify the scam. In the US, we have 3 "pillars" of retirement income that we are told to keep roughly the same size: Gov plans (Social Security), personal savings, employer sponsor plans (401k). I had always assumed in Europe, most people expected the gov to fund most of their retirement (70%?). Whereas the expectation in the US is social security only covers ~33% (although for many people its 100%).
- madsbuch 3y agoAt least for Denmark, the expectation are more or less the same as for the US.
- deleted 3y ago[deleted]