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News flash, You are never retiring

FanboyMctroll
Posts: 253
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1/10/2017 4:53:46 PM
Posted: 1 week ago
By the time you retire the baby boomers would have spent all the pension money saved and since the working class is fewer then the people retiring unless you live in China or India you will have to work forever. Even with the money you put away it won't be enough with the current inflation and costs of real estate going up at 20% a year and all other costs like property tax and food prices, you will have to work forever. The current cost of inflation is 4%, nobody makes a 4% raise in their jobs every year, therefore you will have less and less money every year especially with all other expenses. Then you are ready to retire and there is no pension.

I guess I better prepare myself to be a Wal-Mart greeter now.
dc0404
Posts: 33
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1/13/2017 3:02:55 AM
Posted: 1 week ago
At 1/10/2017 4:53:46 PM, FanboyMctroll wrote:
By the time you retire the baby boomers would have spent all the pension money saved and since the working class is fewer then the people retiring unless you live in China or India you will have to work forever. Even with the money you put away it won't be enough with the current inflation and costs of real estate going up at 20% a year and all other costs like property tax and food prices, you will have to work forever. The current cost of inflation is 4%, nobody makes a 4% raise in their jobs every year, therefore you will have less and less money every year especially with all other expenses. Then you are ready to retire and there is no pension.

I guess I better prepare myself to be a Wal-Mart greeter now.

Even if you want to call the low growth of 1-2%, "growth", that the Fed is expecting, Real Growth is negative when you factor in inflation as you say. One option that will never occur is for the Fed to declare BK now, since they already are bankrupt anyway, then restructure under chapter 11. It will be painful for everyone, but if they keep doing what they are doing, it will be far more painful.

If within your means, consider accelerating your plan to depend on yourself during retirement, before it is too late. From a philosophical perspective, if were wrong, you are even better off, and if were right, you might still make do.

DC
ken1122
Posts: 628
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1/15/2017 2:52:47 AM
Posted: 6 days ago
At 1/10/2017 4:53:46 PM, FanboyMctroll wrote:
By the time you retire the baby boomers would have spent all the pension money saved and since the working class is fewer then the people retiring unless you live in China or India you will have to work forever. Even with the money you put away it won't be enough with the current inflation and costs of real estate going up at 20% a year and all other costs like property tax and food prices, you will have to work forever. The current cost of inflation is 4%, nobody makes a 4% raise in their jobs every year, therefore you will have less and less money every year especially with all other expenses. Then you are ready to retire and there is no pension.

I guess I better prepare myself to be a Wal-Mart greeter now.

Many companies are now opting out of the pension system and instead giving their employees better 401-K options which allows them to be responsible for their own retirement. Many blue collar workers investing in the company 401-K for 25-30 years who are retiring today have over a million dollars in their 401-K to live on. A million isn't as big of a deal as it used to be, but invested properly it should be enough to live on.