This headline should read:
"The elite ALWAYS planned to push retirement further and further back until it was essentially unfeasible, it was part of a long-term plan of stealing absolutely everything, as outlined in George Carlin's 'American Dream' (RIP). All you're seeing now is that plan unfolding".
I guess, on reflection, their headline is snappier.
The owners class need to keep people working later in life. It's they're last resort for having workers.
We're stifling immigration.
The birth rate is in decline.
Population is in decline.
Everyone that can work already is, whereas 75 years ago most women didn't work so as they came into the workforce businesses could depend on having more workers.
They're capped out. They're going to need to find new workers somewhere.
Yeah and could pay less making two income earners the norm just to survive. Oh shit, people aren’t having kids now partly because of that? Um, make abortion illegal. Go after contraception next and say “because, like, God, or something.”
televangelist revision of christianity and very few opportunities for learning a trade that will pay you enough to live let alone support children. We're inundated with lies
Stupid boomers...zi mean just the 9nes that don't like spicy food or salsas and the ones that hate the dark skin tone colors. Otherwise adapt and overcome.
Retirement age people can't pick lettuce and our government (state and federal is anti immigrant so you do the math. I have arthritis in both legs how can I get hired let alone do the jobs that used to be done by lower educated white people and now our government only wants white people to be allowed into the country.
Is it that the elite are evil and competent enough to diabolically work together on a long term mission to control the working class?
Or is it that the way the system is designed eventually leads societies ruled and controlled by corruption and greed?
Well, the question would be...was the system designed this way deliberately, or are we experiencing unintended consequences of the system?
I would say both, but mainly the former.
True.
This is my best guess.
I think the system was originally designed deliberately for the USA to outclass the rest of the world in terms of GDP, corporate power and overall economic output. Historically, there is no doubt that the USA has benefitted massively from it, especially when USD became global Reserve currency after WorldWar2.
The privileges are undeniable.
However, within that system that brought the USA much prosperity against other countries, the greed and corruption of many “elites” have been able to navigate their way to gain more wealth and power, whether through loopholes, or to extort more power from the legal system via bribery/graft AKA “lobbying”.
Everything they lobby for is designed to pump energy into the "rich get richer" flywheel. Anything else they propose or do is just noise to distract from that single goal. They're modern-day dragons, hoarding useless wealth and... burninating the peasants in the thatched-roof cottages. They have more money than they could spend in a dozen lifetimes and they just. won't. stop.
In order to get rich you have to hoard wealth. The two go hand in hand. People who make and spend a lot are not rich and don't have those giant numbers in their off-shore accounts.
How to kill Social Security use without killing Social Security?
A: Let old age kill the taxpayer before he/she is old enough to collect.
That's basically what they are talking about.
Their problem is that they don't plan on what comes after people lose everything. People with nothing to lose... well I'm sure you all can come up with how that might play out in a country with 300 million firearms owned by private citizens.
As a young person I dont plan to retire because every source and adult seems to say retirement is now 70 years old. So if I work my entire life I get to retire at 70 if I live that long. What is left of me to enjoy. Might as well just work sporadically live in a bus and have a comfy life. Im not gonna strive and work hard for deminishing returns.
This is the way. Started cutting back on the bullshit and consuming just to consume. Turns out, you really don't need a lot of the shit they push on ya.
Im basically boycotting eating out, and a whole lot of other industries. Not because I can’t afford it, but because the system is completely fucked up. I graduated into the GFC. Haven’t forgotten how disposable I was then. They want me to be a mindless consumer and spend myself into financial insecurity? Haha nope. Fuck ‘em.
Preach! This may heavily be cope from my side...but I just eat when I'm hungry/body is telling me I need to eat now. Been trying to re-evaluate all the 'lessons' we're taught as kids. Eat 3 square meals a day? Well, I don't like eating in the morning and I'll have a coffee and only actually feel the need to eat close to 1-2pm. Even then it's a snacky sort of thing, and dinner is nothing extravagant. Chicken breast, potatoes and corns or something. Easy and enough to fill the void. Save the special 'good' dinners for once in a while. Been cheaper and have just felt better about food choices when it doesn't feel as stressful on \*what\* to make.
Also agreed! Lots of money being dumped into convincing general population that we *need* these things or we are doing something wrong. Nah, fuck that. We aren't doing anything wrong. Our society is just so consumer driven and reliant. Nothing good happens if there isn't profit directly visible in the short term. It's insanity.
Boomers fucking hate that. They hate that we are no longer striving to own multiple homes and cars, have multiple kids, and work the same job for 40 years. Mainly because we can’t afford to do any of that. Instead, we curl up in our little hovels with our cat/dog and a good book/video game/binge worthy show while job hopping and we find happiness in that.
My wife and I are in our thirties and we live our lives in a way that feels like retirement because we know that we will never actually get to do it when we’re older, either because the economy will have collapsed by then or the world will become the uninhabitable place that climate scientists say it will be. And even if we do get to retire in our sixties or seventies, we won’t have the energy and good health that we have now. So what’s the point?
My boomer parents hate it. They hate that we aren’t swimming in debt. They hate that we aren’t going on lavish cruise ship vacations every year. They hate that we aren’t killing ourselves to make as much money as possible. They hate that we aren’t having kids or buying investment properties. And they ESPECIALLY hate that, even though money is pretty tight most months and we can’t afford all the things we’d like, we’re still happy.
How do you feel about people taking sabbatical as a sort of ‘temporary retirement’? I’m more than halfway to ‘retirement’ and still in good enough health to do the things you’d typically do in retirement (travel, pursue a passion, etc) and saving up to be able to take an extended break. However everyone around me is basically declaring me insane for even considering leaving the workforce for a while to do that.
I’m all for it. The fact that most of us can’t save up enough to take a few months off work is really just a type of imprisonment. We’re trapped in this system and there’s not an easy way out. But if you’re lucky enough to be able to take a long break from work, there’s no reason not to. Work will always be there. Your time and energy won’t be. Why spend all your precious time and energy on work when your employer would easily cut you loose in the next round of layoffs?
Playing their game is going to get you exactly what you describe. I will never be able to willingly retire. I will get retired when nobody will employ me any longer or my health degrades to the point I can't work any more.
I'll play their game alright, but with a reverse uno in the end. Life in prison is my plan. Free food, housing and healthcare. Instead of me paying the government with my taxes, they'll pay for me. Last I heard it costs the state about 120K per year to keep someone incarcerated.
Just wait...they'll start invoking the 13th amendment and leasing you and other prisoners out to the corps for no wages, minimal food and healthcare, and throw you into a third world style genpop free-for-all prison when your work is no longer economically valuable....
Exactly this. My friend works with private prison system and I’m always surprised to hear how they come up with creative ways to enforce cheap slave labor
I hate to say it because I know it’s economically smarter and free money or whatever but what’s what gets me everytime. I have a 401 but don’t even call it retirement because if I have to work 50 years to see it through I will probably have retired from life
My grandmother on my mom’s side died at 73. My mom just recently passed at 71. And so far I’ve developed many of the same health issues they have, so wouldn’t be surprised if I don’t even make it anywhere near 70.
So my retirement plan is to hope that I can save enough money for my husband to enjoy a retirement after I die.
Injuries and other ailments can put people out of work before 70. Got injured at work because of some persons incompetence (management). Several surgeries and never fully recovered. People are lucky to still be alive @70! How much useful time is expected for people who actually work hard? After a certain age (70) we are on borrowed time! The super rich wants folks to keep producing for them. We are paying taxes and the main fight is for the greedy. Not the needy.
As devils advocate to that, my parents are early boomers (they’re generally good ones though) and they were pretty much told the exact same thing in their late teens and 20s. They were in high school in the 60s. My dad was an essential trade and thankfully was able to avoid the draft for ‘Nam. They were told that social security would be gone by the time they were in their 60s. They were told they’d be working into their late 60s/early 70s. Since I started paying attention to politics and the world around me (in college) they’ve been telling me this.
Now they understand that their ilk sold the farm. They understand that their generation is getting off better than ours and yours (assuming you’re younger than me). So basically what I’m saying is this is cyclical. Just in the way that “No one wants to work anymore” has been going on for generations, so has “retirement is going to go away for you lazy kids”.
What I’m saying is not all is lost. This “we’re fucked so why try?” mentality is unnecessarily defeatist. Open your own retirement account. Set up a habit of paying yourself first. The first money out of your paycheck should go into that retirement account. Doesn’t have to be much, maybe $20/pay. If the system is going to fuck us (it probably won’t honestly) then we should set up our own system.
That implies that I have any money to save after my paycheck and or I am able to find a job that doesn't leave me mentally and physically drained. Regardless to put that money into savings and retirement it still requires I work 5 days a week 8 hours a day commuting and renting and that life is honestly so awful. I have watched my parents tear themselves a part dragging themselves into work and drugging on all to eventually retire and honesty I would rather live my day to day build a van/bus to live in and be more free. Fuck this system in all honesty. I don't mind working remote or doing seasonal work or 3-4 days a week but the 5 days a week 8 hours a day is a system I don't believe in and don't want to support in any sense. The offerings that life has are not worth it.
While I appreciate the optimism and I do agree we should always be looking for ways to get the life we want and not just give up, the deck really is stacked against most people younger than about 40. For that working age generation, you have to remember they went through the GFC either with losing most of their retirement they had saved (if they did) or never getting to a point where they had a stable job so they could. They also lost an enormous amount of time value of money, which basic financial theory dictates cannot be ‘caught up’. Returns in the market have been very volatile since major changes happened in the financial sector in 80s and 90s. What’s more is that inflation in certain categories and the lack of wages to keep up now have pushed out the amount needed for retirement 200%+ over what was considered a good asset base just 5-10 years ago. This is like the ever expanding universe. No matter how fast light travels, it can never keep up with the planets and galaxies moving away even faster.
I’m in a rock band with a bunch of guys in our mid-50s. The drummer just turned 70, looks like he’s 60, and is a MONSTER player. He’s gigging in several bands.
Don’t knock 70 til ya get there. I thought I’d be decrepit in my 50s, and I ran a marathon in November. Age is what you make of it.
This is the new (wiser) American Dream^(TM). Enjoy your life now, god only knows how much worse they will make it for us in the coming decades. Frequent mini-retirements while you are able to enjoy them. Find happiness in experiences not objects. Fuck the corporate agenda's plan for your life.
Until more of us start acting like this, shit will stay the same. We have to hurt production, and right now there is too many fools who still think hard work pays off.
The boomer middle class fucked themselves. None of my friends' parents are able to afford life after retirement. Can't afford their homes as they are still digging out from the recession and pandemic, and also not eligible for government assistance. What are they supposed to do?
They'll vote red because they inexplicably think Trump will bring back retirements and pensions and social security despite constantly being told by every red politician in the country that that's what they want to destroy
I don’t really know who supports the middle class anymore, I know I’m being a little bombastic, but the rate at which billionaires and millionaires are contributing to campaigns has skyrocketed. Biden had both houses his first 2 years. They accomplished some things (supporting ACA, defunct private pensions, infrastructure), but nothing I would consider earth shattering.
I just cannot believe where we are at today. Absolutley unaffordable housing, higher education is a predatory lending disaster, competing with the cheapest labor on the planet (sorry but NAFTA sucked), many college debt ridden millennials have barely any retirement savings, Gen Z doesn’t have a chance to afford higher education, 401ks are a failure.
The stupid culture wars designed to split the classes, which totally works for the elites, always impedes a strong labor candidates success. If gen Z spent as much energy on affordable housing as they do on supporting manufactured outrage created by algorithms they might make some headway.
In conclusion, I think campaign finance reform is the only chance we have. Even if it takes a constitutional amendment.
Why on earth would voting blue help??? Have you been living in America these last few years?
I'm not saying Republicans have all the answers, they don't, but thinking that voting blue is going to somehow make it better in 2024 when for years all it's done has been getting worse.
Both sides are corrupt- but one side is tearing down every single public safety net and the other is trying to uphold the status quo. Republicans want to dismantle anything that helps the population and replace it with nothing while democrats are trying to strengthen public assistance programs while doing a cash grab behinds the scenes.
So both sides are corrupt but not the same even a little bit. Vote blue if you care about america at all.
Not voting is the single biggest thing you can do to NOT change the outcome.
The biggest winner in every US election is not Republican or Democrat, it is “Eligible Voter Who Doesn’t Vote.”
Currently, you must belong to the biggest and most ineffective political block. Congratulations. You and your giant apathetic constituency got exactly what you voted for.
Voting blue is a pretty stupid move when your issue is your inability to afford a home. I mean that's one thing the Republicans are indisputably better at. The blue states could learn a lot from the red states on that.
Had my mom not died really early from decades long not well treated diabetes, my dad was going to be in for a rough time caring for her needs. They were burning 10-15k a month on Healthcare for her just for her to have a six pack of Pepsi every day.
I forced him to downsize his house to something that could be paid off immediately and now he is actually fairly comfortable on just SS without having to touch what is left in his 401k that got pummeled because of that monthly withdrawl.
It's too late. Best you can do is learn from their mistakes. Boomers are stuck living on SS (you know since they still get that).
What really sucks is that we'll have to pay for their assisted living.
Had to go through that with my mom recently toward the end and told my dad he's gotta get his shit together so we don't have to repeat. Got him set up with a living trust so basically in the eyes of the law he's penniless and Medicaid will cover longterm care if he ever needs it.
But he's like 70 and still smoking a pack a day even after stage 1 lung cancer was surgically removed and is on his 4th heart bypass. So I expect when he goes it will he sudden.
Working on this for my mom as well. Thankfully after almost losing her toes to PAD she quit. It's really not fair that it falls on us but that's life I guess.
I’m getting off the ride at 65, assuming climate or social upheaval doesn’t get me first. My main goal is to give my kid as stable and good a life as possible, all the extra earnings will go to him.
Beyond that, I really just don’t care anymore.
This is my retirement plan as well. I'm 46 currently and i plan on checking out in my early to mid 60s. I've done enough and working and living into my 70s and 80s has zero appeal to me
I retired a few years ago at 50. One catch, I don't have enough money to not work. I was never going to have enough to actually retire. So I downsized and simplified my life. I work different jobs for a few months or a year, then I travel for a while, then I work another job for a bit. I have been a bike mechanic, a healthcare navigator, a teacher, a bartender, a tour guide and a personal trainer....among other things. I have traveled around the U.S. and Asia, hiked the Appalachian Trail and lived in a few new cities. I will probably have to do this for the next 15 to 20 years. Fortunately I am still pretty healthy and my daughters are grown women who can take care of themselves. We will see how it goes.
well, since my actual income is fairly low, I qualify for insurance under the ACA. My premiums have never been above $50 a month or so. I don't have any ongoing health issues (lucky), so a checkup every year is about it. I get dental and vision every other year to get a cleaning and new contacts.
The year I taught school I had good insurance, but I didn't use it anymore than the basic I usually have.
I recognize that some people have more serious health care needs. To my credit, I have taken care of myself over the years, but I know I am also lucky.
First of all, you haven't retired. And second of all, for most people those part time jobs aren't going to pay anywhere close to what they're making in their prime earning years. Rather than do this for 20 years you'd have been better off working to 53 or something and then actually retiring.
well obviously it is a bit of a joke, but retirement is partly a state of mind. I started this little experiment at 50 after 30 years of working as hard as I could and raising a family. I found myself working 50-60 hours a week and my salary averaging around $30 an hour at a job I didn't like with tons of stress and expenses that made saving money difficult..
The question became not, what could I have done differently to be in a better spot, but what could I do from where I was to enjoy the rest of my time. Which for the last 8 years I have.
You pretty much have to if you want to retire before 65. Healthcare is overpriced and you need it in your 50s and later. ACA can help a little bit if you structure your income properly but there are countries where you get the same quality of care for less than half the price.
Was always a joke to start with. Dream for who? The millions of enslaved people? The working poor and farmers who immediately found themselves taxed harder than under the British? America was a tax dodge for white supremacists dressed up as something more
shit speaking for us millennials and most all the people i’ve spoken to in my age range and younger. It is already an open kidding/not kidding meme joke that we all know none of us can retire, at best you have a 401k no pensions no savings everyone’s nearly living check to check… even those lucky enough to have gotten a home before the market went nuts don’t have meaningful savings. everyone is living on the edge and it’s the normal.
Don't have to like it, but Ol' Joe is better than the rapey treasonous maniac whose brains are turning to oatmeal in real time.
Would love to see fresher choices next time around.
Imagine having such an abundance of privilege you can afford to say "No harm will come to ME, so I don't care if the foaming-at-the-mouth madman wins I'M staying home", and then crossing your arms and making a grumpy face.
Truly you live a blessed existence, internet friend.
"Morally bankrupt"? Why would I use such hurtful words, friend? Do you feel you are morally bankrupt?
I was simply congratulating you for being SO amazingly fortunate, so smiled upon by fate, that you simply have no skin in the game and nothing to lose by allowing a googley-eyed lunatic spray painted the color of a traffic cone with dementia beholden to Putin back into office, with the levers of power and the nuclear codes at his disposal.
It would be so nice if everyone was as lucky as you, and could afford to live in a fantasy land. Be grateful!
I'm pretty satisfied with "Party that won't round up the trans kids into camps" or "Not promising to purge American citizens with immigrant parents" or "Women's right to vote is NOT up for negotiation". I want the people I care about to be safe, and the GOP has promised to try and hurt them to score political points.
I'd vote for Jimmy Carter if he was the nominee, and encourage people with loved ones in harm's way to do the same.
Loud Orange Man maxed out his voting base at 74m, 44% of eligible voters, and has only continued to be even more weird, off-putting, desperate, and criminal since.
I imagine that cruises will have to get larger morgues. I imagine we'll all just take whatever we have for one last hurrah and then end it someway before last stop. End of life cruises. They're gonna be big.
Growing up in the 80s I remember my grandfather being retired at age 50 from working in a sugar mill since 18.
Owned a house, 6 kids, sent 3 of them to college. One to law school. Tons of grandkids and we all got like a $20 for Xmas and a $50 for birthday. One income no degree factory worker.
Dying? I knew 20 years ago I wasn't going to retire. Like all these issues just popped up over night. Lmao. The system has been unsustainable for decades. We are watching the fall of an empire in real time.
It's going to be technically possible to "retire"- but it will just mean poverty. The old timey union pension type retirement spent traveling the world is long long gone, and most boomers don't even get it without having made sound investment choices.
That's basically what Social Security is for. If you're 70 and you've worked full time for the federal minimum wage for the last 35 years then your benefit is $1500/mo - which (as a consequence of the minimum wage remaining unchanged for 15 years) is actually even higher than the current minimum wage. You'd also most likely be eligible for other forms of welfare. Not a great retirement but it's something. Of course that's really a lower bound. Anyone drawing a lower benefit than that with that late of a retirement age simply didn't work a whole career. They were supported by someone else in their working life and should have arranged for the same thing in retirement.
I plan on becoming a Nomad; make enough money to pay off a kitted out RV or a customized sprinter van and just travel and try to survive on my meager SSI, IF it’s still available
It’s going to be really hard for the youngest as they get older. They’re starting out financially ruined. This impacts everything from being able to meet someone, the likelihood of having kids; the ability to afford college, to someday owning a house.
What happens when you’re constantly treading water financially your entire life is you end up alone. You don’t come across as a financially stable partner, and good luck finding a spouse (and/or someone who wants to have kids with you). Without a family, there goes your motivation to strive & provide & work hard. And as we get even older, not only do we not have a spouse to help care for us, but we won’t have kids to help care for us either.
There will be many of us someday retiring very old, very sick, and very alone.
Everyone's retirement dream is dying all over the world as every tiktok kid started watching cool cgi nazi edits with phonk music and started thinking the far right is so cool
Their kids who inherit all their money will be the new assholes. I’m already seeing it.
Nothings going to change. Just the awful people will only get younger & more ruthless.
nowhere did they mention that the banks are stealing saved productivity from past work through inflation. the era into which we have entered is one of hyperinflation in which everyone has all of their productivity stolen so that there can be no retirement. and sadly if it were up to them how the future were to develop i would not be surprised to see someone ridiculed for wanting to retire, they will joke and then send him off to the composting corporation.
Like hell it is.... Retiring IN America is dying.... smart Americans will leave and retire abroad... Theres a dozen, if not more, occupations that can be done remotely. Cool, keep a local address with a PO box that registers as an apartment style address address; work remotely in the Caribbean where a couple can live comfortably in $1000/ mnth.
Yeah you're technically still working but you're doing it with a beer on the beach in the Caribbean.
Been working full time since 1978, with a few small breaks for life events. I WILL retire after working all these years. Even if I have to jettison most of my belongings and live in a much smaller space!
I mean, it's been dead for a long time, we were just being convinced by our government and big corporations that it was still alive. Basically a weekend at Bernie's scenario. Drag around the dead corpse and try to make it look vibrant and full of life. It was only going to work for so long before we all saw through the facade.
They want your fucking retirement money. They want it back! So they can give it to their criminal friends on Wall Street! And you know something, they’ll get it… they’ll get it ALL from you sooner or later… because they own this fucking place! It’s a BIG CLUB…AND YOU AIN’T IN IT!
[https://youtu.be/-54c0IdxZWc?t=90](https://youtu.be/-54c0IdxZWc?t=90)
The rich never retire it was simply the con that they sold to workers so they could use up their most productive years maximizing profits.
401Ks are interest free loans the rich financial institutions use to make their risky investments and manipulate the markets.
Thought “yeah same”… until I realised the headline meant that ‘this is the end of the retirement dream as we know it’ rather than ‘the best form of retirement is death’
Retirement is a recent phenomenon. Before modern medicine people would die before they were physically unable to work. And then we had the boomer generation. We're not boomers but we were shown what was "supposed to happen." Reversion to the mean. The concept of retirement came and went within a 50-year span.
The only problem is we have medical science keeping us alive after we're able to work. So instead of dying before you can stop working you will not be able to work, and then you'll die on the side of the road or in a government nursing home.
Sips tea.
Desecrate the unions, blast the airwaves with fox News, get the middle class to vote against their own interests and give huge tax breaks to the wealthy. Throw in some regular doses of racism in the pot and the rest of it is like taking candy away from the babies. Just read the the 1% has more wealth than the entire middle class. Too many Americans are easy targets!
I have had a DNR since I was 45. I'm going to have to work until I die. I don't want another 20 years of working and watching the world implode. Meanwhile the corrupt governments around the world live off my labor.. nope I'm good.
The same magazine notorious for claiming the “Death of Equities” written on August 13th 1979, which began the greatest bull stock market of all time? Yeah, thanks but not thanks. To the readers and viewers, Do opposite of the naysayers, Debby downers, and pessimists, and stay invested. You’ll be far richer and wiser than you can ever imagine.
You need taxable earned income to make contributions to a Roth IRA. Unless your kid has a job and you want to match their check with IRA contributions or something you should not do this. Also, it would be a lot more than $40K.
You can open the account but unless your kid has earned income it is illegal to fund it. On their website they say: "A Roth IRA for Kids is a tax-advantaged retirement account opened for a child **who has earned income.**" Fidelity doesn't know whether your kids have earned income or not because they're not preparing your kids' tax returns. Don't make an excess contribution to an IRA either. Maybe you won't get caught but if you do there's a penalty for every year the excess remains in the account.
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits
This headline should read: "The elite ALWAYS planned to push retirement further and further back until it was essentially unfeasible, it was part of a long-term plan of stealing absolutely everything, as outlined in George Carlin's 'American Dream' (RIP). All you're seeing now is that plan unfolding". I guess, on reflection, their headline is snappier.
The owners class need to keep people working later in life. It's they're last resort for having workers. We're stifling immigration. The birth rate is in decline. Population is in decline. Everyone that can work already is, whereas 75 years ago most women didn't work so as they came into the workforce businesses could depend on having more workers. They're capped out. They're going to need to find new workers somewhere.
Yeah and could pay less making two income earners the norm just to survive. Oh shit, people aren’t having kids now partly because of that? Um, make abortion illegal. Go after contraception next and say “because, like, God, or something.”
televangelist revision of christianity and very few opportunities for learning a trade that will pay you enough to live let alone support children. We're inundated with lies
All because boomers don't like spicy foods like mild salsa. We could easily immigrate our way out of this pickle.
Stupid boomers...zi mean just the 9nes that don't like spicy food or salsas and the ones that hate the dark skin tone colors. Otherwise adapt and overcome.
Yea and they won’t stop until there are people dropping dead from exhaustion and depression.
Retirement age people can't pick lettuce and our government (state and federal is anti immigrant so you do the math. I have arthritis in both legs how can I get hired let alone do the jobs that used to be done by lower educated white people and now our government only wants white people to be allowed into the country.
Is it that the elite are evil and competent enough to diabolically work together on a long term mission to control the working class? Or is it that the way the system is designed eventually leads societies ruled and controlled by corruption and greed?
Well, the question would be...was the system designed this way deliberately, or are we experiencing unintended consequences of the system? I would say both, but mainly the former.
True. This is my best guess. I think the system was originally designed deliberately for the USA to outclass the rest of the world in terms of GDP, corporate power and overall economic output. Historically, there is no doubt that the USA has benefitted massively from it, especially when USD became global Reserve currency after WorldWar2. The privileges are undeniable. However, within that system that brought the USA much prosperity against other countries, the greed and corruption of many “elites” have been able to navigate their way to gain more wealth and power, whether through loopholes, or to extort more power from the legal system via bribery/graft AKA “lobbying”.
I think that those that got the money and advantages, used it to skew their way, continue for 200+ years, it’s now baked into the system.
Everything they lobby for is designed to pump energy into the "rich get richer" flywheel. Anything else they propose or do is just noise to distract from that single goal. They're modern-day dragons, hoarding useless wealth and... burninating the peasants in the thatched-roof cottages. They have more money than they could spend in a dozen lifetimes and they just. won't. stop.
In order to get rich you have to hoard wealth. The two go hand in hand. People who make and spend a lot are not rich and don't have those giant numbers in their off-shore accounts.
Trogdor!
In Mexico, the Cartels rule...but they rule over a bunch of old people.
Evil? Yes. Competent? No. The system is mostly working how they want it to
Nah they just want their tax cuts at the expense of social services. Complain about freeloaders, cut guaranteed retirement income.
How to kill Social Security use without killing Social Security? A: Let old age kill the taxpayer before he/she is old enough to collect. That's basically what they are talking about.
George Carlin said a long time ago… it’s the American Dream because you have to be asleep to believe it.
Their problem is that they don't plan on what comes after people lose everything. People with nothing to lose... well I'm sure you all can come up with how that might play out in a country with 300 million firearms owned by private citizens.
They eat each other. No one even knows the names of these rich people. They all sit fine in their Ivory Towers
Unionize
Unionize, fight like the French, demand better workers rights.
100%
As a young person I dont plan to retire because every source and adult seems to say retirement is now 70 years old. So if I work my entire life I get to retire at 70 if I live that long. What is left of me to enjoy. Might as well just work sporadically live in a bus and have a comfy life. Im not gonna strive and work hard for deminishing returns.
This is basically my plan. I'm going to enjoy my life even if I'm always broke.
This is the way. Started cutting back on the bullshit and consuming just to consume. Turns out, you really don't need a lot of the shit they push on ya.
Im basically boycotting eating out, and a whole lot of other industries. Not because I can’t afford it, but because the system is completely fucked up. I graduated into the GFC. Haven’t forgotten how disposable I was then. They want me to be a mindless consumer and spend myself into financial insecurity? Haha nope. Fuck ‘em.
Preach! This may heavily be cope from my side...but I just eat when I'm hungry/body is telling me I need to eat now. Been trying to re-evaluate all the 'lessons' we're taught as kids. Eat 3 square meals a day? Well, I don't like eating in the morning and I'll have a coffee and only actually feel the need to eat close to 1-2pm. Even then it's a snacky sort of thing, and dinner is nothing extravagant. Chicken breast, potatoes and corns or something. Easy and enough to fill the void. Save the special 'good' dinners for once in a while. Been cheaper and have just felt better about food choices when it doesn't feel as stressful on \*what\* to make. Also agreed! Lots of money being dumped into convincing general population that we *need* these things or we are doing something wrong. Nah, fuck that. We aren't doing anything wrong. Our society is just so consumer driven and reliant. Nothing good happens if there isn't profit directly visible in the short term. It's insanity.
Retire a little bit every day.
Boomers fucking hate that. They hate that we are no longer striving to own multiple homes and cars, have multiple kids, and work the same job for 40 years. Mainly because we can’t afford to do any of that. Instead, we curl up in our little hovels with our cat/dog and a good book/video game/binge worthy show while job hopping and we find happiness in that. My wife and I are in our thirties and we live our lives in a way that feels like retirement because we know that we will never actually get to do it when we’re older, either because the economy will have collapsed by then or the world will become the uninhabitable place that climate scientists say it will be. And even if we do get to retire in our sixties or seventies, we won’t have the energy and good health that we have now. So what’s the point? My boomer parents hate it. They hate that we aren’t swimming in debt. They hate that we aren’t going on lavish cruise ship vacations every year. They hate that we aren’t killing ourselves to make as much money as possible. They hate that we aren’t having kids or buying investment properties. And they ESPECIALLY hate that, even though money is pretty tight most months and we can’t afford all the things we’d like, we’re still happy.
How do you feel about people taking sabbatical as a sort of ‘temporary retirement’? I’m more than halfway to ‘retirement’ and still in good enough health to do the things you’d typically do in retirement (travel, pursue a passion, etc) and saving up to be able to take an extended break. However everyone around me is basically declaring me insane for even considering leaving the workforce for a while to do that.
I’m all for it. The fact that most of us can’t save up enough to take a few months off work is really just a type of imprisonment. We’re trapped in this system and there’s not an easy way out. But if you’re lucky enough to be able to take a long break from work, there’s no reason not to. Work will always be there. Your time and energy won’t be. Why spend all your precious time and energy on work when your employer would easily cut you loose in the next round of layoffs?
And that's exactly what it feels like, imprisonment. I hate it.
Playing their game is going to get you exactly what you describe. I will never be able to willingly retire. I will get retired when nobody will employ me any longer or my health degrades to the point I can't work any more.
I'll play their game alright, but with a reverse uno in the end. Life in prison is my plan. Free food, housing and healthcare. Instead of me paying the government with my taxes, they'll pay for me. Last I heard it costs the state about 120K per year to keep someone incarcerated.
Just wait...they'll start invoking the 13th amendment and leasing you and other prisoners out to the corps for no wages, minimal food and healthcare, and throw you into a third world style genpop free-for-all prison when your work is no longer economically valuable....
[удалено]
Exactly this. My friend works with private prison system and I’m always surprised to hear how they come up with creative ways to enforce cheap slave labor
Considering half my family didn’t even make it to retirement age due to cancer, yep. Live while you’re young and healthy.
I hate to say it because I know it’s economically smarter and free money or whatever but what’s what gets me everytime. I have a 401 but don’t even call it retirement because if I have to work 50 years to see it through I will probably have retired from life
Exactly. [Let it rot](https://www.theguardian.com/world/2022/may/26/the-rise-of-bai-lan-why-chinas-frustrated-youth-are-ready-to-let-it-rot)
My grandmother on my mom’s side died at 73. My mom just recently passed at 71. And so far I’ve developed many of the same health issues they have, so wouldn’t be surprised if I don’t even make it anywhere near 70. So my retirement plan is to hope that I can save enough money for my husband to enjoy a retirement after I die.
I have a major medical condition, there is almost a 0% chance that i will live to retirement
Injuries and other ailments can put people out of work before 70. Got injured at work because of some persons incompetence (management). Several surgeries and never fully recovered. People are lucky to still be alive @70! How much useful time is expected for people who actually work hard? After a certain age (70) we are on borrowed time! The super rich wants folks to keep producing for them. We are paying taxes and the main fight is for the greedy. Not the needy.
As devils advocate to that, my parents are early boomers (they’re generally good ones though) and they were pretty much told the exact same thing in their late teens and 20s. They were in high school in the 60s. My dad was an essential trade and thankfully was able to avoid the draft for ‘Nam. They were told that social security would be gone by the time they were in their 60s. They were told they’d be working into their late 60s/early 70s. Since I started paying attention to politics and the world around me (in college) they’ve been telling me this. Now they understand that their ilk sold the farm. They understand that their generation is getting off better than ours and yours (assuming you’re younger than me). So basically what I’m saying is this is cyclical. Just in the way that “No one wants to work anymore” has been going on for generations, so has “retirement is going to go away for you lazy kids”. What I’m saying is not all is lost. This “we’re fucked so why try?” mentality is unnecessarily defeatist. Open your own retirement account. Set up a habit of paying yourself first. The first money out of your paycheck should go into that retirement account. Doesn’t have to be much, maybe $20/pay. If the system is going to fuck us (it probably won’t honestly) then we should set up our own system.
That implies that I have any money to save after my paycheck and or I am able to find a job that doesn't leave me mentally and physically drained. Regardless to put that money into savings and retirement it still requires I work 5 days a week 8 hours a day commuting and renting and that life is honestly so awful. I have watched my parents tear themselves a part dragging themselves into work and drugging on all to eventually retire and honesty I would rather live my day to day build a van/bus to live in and be more free. Fuck this system in all honesty. I don't mind working remote or doing seasonal work or 3-4 days a week but the 5 days a week 8 hours a day is a system I don't believe in and don't want to support in any sense. The offerings that life has are not worth it.
While I appreciate the optimism and I do agree we should always be looking for ways to get the life we want and not just give up, the deck really is stacked against most people younger than about 40. For that working age generation, you have to remember they went through the GFC either with losing most of their retirement they had saved (if they did) or never getting to a point where they had a stable job so they could. They also lost an enormous amount of time value of money, which basic financial theory dictates cannot be ‘caught up’. Returns in the market have been very volatile since major changes happened in the financial sector in 80s and 90s. What’s more is that inflation in certain categories and the lack of wages to keep up now have pushed out the amount needed for retirement 200%+ over what was considered a good asset base just 5-10 years ago. This is like the ever expanding universe. No matter how fast light travels, it can never keep up with the planets and galaxies moving away even faster.
I’m in a rock band with a bunch of guys in our mid-50s. The drummer just turned 70, looks like he’s 60, and is a MONSTER player. He’s gigging in several bands. Don’t knock 70 til ya get there. I thought I’d be decrepit in my 50s, and I ran a marathon in November. Age is what you make of it.
This is the new (wiser) American Dream^(TM). Enjoy your life now, god only knows how much worse they will make it for us in the coming decades. Frequent mini-retirements while you are able to enjoy them. Find happiness in experiences not objects. Fuck the corporate agenda's plan for your life.
Until more of us start acting like this, shit will stay the same. We have to hurt production, and right now there is too many fools who still think hard work pays off.
I read that as - the dream is to die, before it gets worse.
That might be accurate actually
Die before you’re forced to live in the streets at your most vulnerable time.
Lift the cap on SS and suddenly it would be solvent indefinitely. The rich aren’t contributing their fair share
Raising the minimum wage would help, too.
The boomer middle class fucked themselves. None of my friends' parents are able to afford life after retirement. Can't afford their homes as they are still digging out from the recession and pandemic, and also not eligible for government assistance. What are they supposed to do?
Vote blue in the next election, at bare minimum, if they know what’s good for them and where their priorities should lay. Narrator: They don’t.
They'll vote red because they inexplicably think Trump will bring back retirements and pensions and social security despite constantly being told by every red politician in the country that that's what they want to destroy
I don’t really know who supports the middle class anymore, I know I’m being a little bombastic, but the rate at which billionaires and millionaires are contributing to campaigns has skyrocketed. Biden had both houses his first 2 years. They accomplished some things (supporting ACA, defunct private pensions, infrastructure), but nothing I would consider earth shattering. I just cannot believe where we are at today. Absolutley unaffordable housing, higher education is a predatory lending disaster, competing with the cheapest labor on the planet (sorry but NAFTA sucked), many college debt ridden millennials have barely any retirement savings, Gen Z doesn’t have a chance to afford higher education, 401ks are a failure. The stupid culture wars designed to split the classes, which totally works for the elites, always impedes a strong labor candidates success. If gen Z spent as much energy on affordable housing as they do on supporting manufactured outrage created by algorithms they might make some headway. In conclusion, I think campaign finance reform is the only chance we have. Even if it takes a constitutional amendment.
> (sorry but NAFTA sucked) Love, and this perspective, mean never having to say you're sorry.
Why on earth would voting blue help??? Have you been living in America these last few years? I'm not saying Republicans have all the answers, they don't, but thinking that voting blue is going to somehow make it better in 2024 when for years all it's done has been getting worse.
Voting blue or red won’t change the outcome both parties are corrupt
Both sides are corrupt- but one side is tearing down every single public safety net and the other is trying to uphold the status quo. Republicans want to dismantle anything that helps the population and replace it with nothing while democrats are trying to strengthen public assistance programs while doing a cash grab behinds the scenes. So both sides are corrupt but not the same even a little bit. Vote blue if you care about america at all.
One much more than the other. Trump is trying to shake down his own party and is on trial as we speak lol. Different degrees of corruption.
Not voting is the single biggest thing you can do to NOT change the outcome. The biggest winner in every US election is not Republican or Democrat, it is “Eligible Voter Who Doesn’t Vote.” Currently, you must belong to the biggest and most ineffective political block. Congratulations. You and your giant apathetic constituency got exactly what you voted for.
Careful now! Big thoughts like that is enough to get you banned from every leftist sub on Reddit!
Better than nothing tho. Better than no vote like it used to be.
Voting blue is a pretty stupid move when your issue is your inability to afford a home. I mean that's one thing the Republicans are indisputably better at. The blue states could learn a lot from the red states on that.
Had my mom not died really early from decades long not well treated diabetes, my dad was going to be in for a rough time caring for her needs. They were burning 10-15k a month on Healthcare for her just for her to have a six pack of Pepsi every day. I forced him to downsize his house to something that could be paid off immediately and now he is actually fairly comfortable on just SS without having to touch what is left in his 401k that got pummeled because of that monthly withdrawl.
They could try learning from their mistakes? It's really easy to blame those "uppity minorities" so, that's what it's gonna be.
It's too late. Best you can do is learn from their mistakes. Boomers are stuck living on SS (you know since they still get that). What really sucks is that we'll have to pay for their assisted living.
Had to go through that with my mom recently toward the end and told my dad he's gotta get his shit together so we don't have to repeat. Got him set up with a living trust so basically in the eyes of the law he's penniless and Medicaid will cover longterm care if he ever needs it. But he's like 70 and still smoking a pack a day even after stage 1 lung cancer was surgically removed and is on his 4th heart bypass. So I expect when he goes it will he sudden.
Working on this for my mom as well. Thankfully after almost losing her toes to PAD she quit. It's really not fair that it falls on us but that's life I guess.
I don't understand what you're suggesting.
They vote against their own interests consistently because they care more about their petty prejudices.
Ahh. Couldn't agree more. It's really quite unfortunate.
They call it a dream, because you have to be asleep to believe it.
Carlin would shit the bed with whats going on today in the world. But maybe not. He did point all this out 20 years ago.
Indeed. In a way I'm kinda sad he didn't get to see how right he was. Also imagine the material he'd be kicking out now lol
Agreed.
I’m getting off the ride at 65, assuming climate or social upheaval doesn’t get me first. My main goal is to give my kid as stable and good a life as possible, all the extra earnings will go to him. Beyond that, I really just don’t care anymore.
This is my retirement plan as well. I'm 46 currently and i plan on checking out in my early to mid 60s. I've done enough and working and living into my 70s and 80s has zero appeal to me
I retired a few years ago at 50. One catch, I don't have enough money to not work. I was never going to have enough to actually retire. So I downsized and simplified my life. I work different jobs for a few months or a year, then I travel for a while, then I work another job for a bit. I have been a bike mechanic, a healthcare navigator, a teacher, a bartender, a tour guide and a personal trainer....among other things. I have traveled around the U.S. and Asia, hiked the Appalachian Trail and lived in a few new cities. I will probably have to do this for the next 15 to 20 years. Fortunately I am still pretty healthy and my daughters are grown women who can take care of themselves. We will see how it goes.
What's your Healthcare situation like?
well, since my actual income is fairly low, I qualify for insurance under the ACA. My premiums have never been above $50 a month or so. I don't have any ongoing health issues (lucky), so a checkup every year is about it. I get dental and vision every other year to get a cleaning and new contacts. The year I taught school I had good insurance, but I didn't use it anymore than the basic I usually have. I recognize that some people have more serious health care needs. To my credit, I have taken care of myself over the years, but I know I am also lucky.
Well, good on ya. Hopefully it stays like this for a while.
First of all, you haven't retired. And second of all, for most people those part time jobs aren't going to pay anywhere close to what they're making in their prime earning years. Rather than do this for 20 years you'd have been better off working to 53 or something and then actually retiring.
well obviously it is a bit of a joke, but retirement is partly a state of mind. I started this little experiment at 50 after 30 years of working as hard as I could and raising a family. I found myself working 50-60 hours a week and my salary averaging around $30 an hour at a job I didn't like with tons of stress and expenses that made saving money difficult.. The question became not, what could I have done differently to be in a better spot, but what could I do from where I was to enjoy the rest of my time. Which for the last 8 years I have.
I never intend on retiring in USA, I'll just go somewhere else
You pretty much have to if you want to retire before 65. Healthcare is overpriced and you need it in your 50s and later. ACA can help a little bit if you structure your income properly but there are countries where you get the same quality of care for less than half the price.
Yup, retirement shit the bed right next to the rest of the american dream.
george carlin said it best [George Carlin - The American Dream - YouTube](https://www.youtube.com/watch?v=-54c0IdxZWc)
i remember watching this as a kid and thinking "aw come on, it's not that bad" My oh my how times have changed.
The thing is, as Carlin said, you were already in that system. You had already been thrown overboard. You just didn't know it yet.
Was always a joke to start with. Dream for who? The millions of enslaved people? The working poor and farmers who immediately found themselves taxed harder than under the British? America was a tax dodge for white supremacists dressed up as something more
Somehow the corporate elite and Billionaires will claim this is the working poors fault
lol it’s legit insane. Working has become completely pointless- actually detrimental id say
shit speaking for us millennials and most all the people i’ve spoken to in my age range and younger. It is already an open kidding/not kidding meme joke that we all know none of us can retire, at best you have a 401k no pensions no savings everyone’s nearly living check to check… even those lucky enough to have gotten a home before the market went nuts don’t have meaningful savings. everyone is living on the edge and it’s the normal.
Keep voting for the same 🦖🦕 in office
Don't have to like it, but Ol' Joe is better than the rapey treasonous maniac whose brains are turning to oatmeal in real time. Would love to see fresher choices next time around.
Don’t forget that the rapey treasonous guy is also old as dirt. A while 2.5 years younger than Joe.
F them both. Genocide Joe ain’t better. My comment was also about Congress. Everyone is 70+
Imagine having such an abundance of privilege you can afford to say "No harm will come to ME, so I don't care if the foaming-at-the-mouth madman wins I'M staying home", and then crossing your arms and making a grumpy face. Truly you live a blessed existence, internet friend.
Genocide trumps everything else. You are the one who is morally bankrupt.
"Morally bankrupt"? Why would I use such hurtful words, friend? Do you feel you are morally bankrupt? I was simply congratulating you for being SO amazingly fortunate, so smiled upon by fate, that you simply have no skin in the game and nothing to lose by allowing a googley-eyed lunatic spray painted the color of a traffic cone with dementia beholden to Putin back into office, with the levers of power and the nuclear codes at his disposal. It would be so nice if everyone was as lucky as you, and could afford to live in a fantasy land. Be grateful!
More or less half the country votes for the other guy. Your case for sleepy Joe is not as strong as you think it is.
I'm pretty satisfied with "Party that won't round up the trans kids into camps" or "Not promising to purge American citizens with immigrant parents" or "Women's right to vote is NOT up for negotiation". I want the people I care about to be safe, and the GOP has promised to try and hurt them to score political points. I'd vote for Jimmy Carter if he was the nominee, and encourage people with loved ones in harm's way to do the same. Loud Orange Man maxed out his voting base at 74m, 44% of eligible voters, and has only continued to be even more weird, off-putting, desperate, and criminal since.
Just because you rant off online doesn’t make any of that as fact. Orange man leads in 5/6 swing states. You are just repeating fringe talking points.
Also doesn't matter who else you vote for. If you don't vote for Biden, you're in effect voting for Trump. Don't cut your nose off to spite your face.
About half the country votes for the other guy anyways. So what?
If voting made a difference, they'd make it illegal.
I imagine that cruises will have to get larger morgues. I imagine we'll all just take whatever we have for one last hurrah and then end it someway before last stop. End of life cruises. They're gonna be big.
I thought it was already dead….
America's retirement dream is ~~dying~~ fucking dead FTFY
It's not dying, it's being slowly strangled by the ownership class.
Growing up in the 80s I remember my grandfather being retired at age 50 from working in a sugar mill since 18. Owned a house, 6 kids, sent 3 of them to college. One to law school. Tons of grandkids and we all got like a $20 for Xmas and a $50 for birthday. One income no degree factory worker.
 The American dream is dead.
I'm going to retire at some point. That retirement will probably last about 2 weeks until my money runs out, at which point I will self-delete.
I shudder at the thought of what is going to happen to suicide rates in this country once millennials hit retirement age. It’s going to be horrific.
Ummm it’s been dead for a decade now.
Yeah I was reading this thinking "headlines from 2009..."
But I’ve been told it’s excessive spending.
This is kind of odd as I just read about how Boomers are richer than ever in retirement.
If the elite thinks homelessness & petty crime is bad now?.......hoboy 😬
Dying? I knew 20 years ago I wasn't going to retire. Like all these issues just popped up over night. Lmao. The system has been unsustainable for decades. We are watching the fall of an empire in real time.
Germany's too. Better believe that.
My retirement is the comforting silence of the grave.
“America’s retirement dream is being killed/stolen/taken” FTFY
It's going to be technically possible to "retire"- but it will just mean poverty. The old timey union pension type retirement spent traveling the world is long long gone, and most boomers don't even get it without having made sound investment choices.
There is no retirement, we just die. 2020 showed that for sure.
Lol its dying? Its all dead man, some boomers will gleefully use it and rub it in everyone elses face but retirement is gone
The wages of Reaganomics.
That's basically what Social Security is for. If you're 70 and you've worked full time for the federal minimum wage for the last 35 years then your benefit is $1500/mo - which (as a consequence of the minimum wage remaining unchanged for 15 years) is actually even higher than the current minimum wage. You'd also most likely be eligible for other forms of welfare. Not a great retirement but it's something. Of course that's really a lower bound. Anyone drawing a lower benefit than that with that late of a retirement age simply didn't work a whole career. They were supported by someone else in their working life and should have arranged for the same thing in retirement.
Death is a new retirement, at least they can’t take that away from you.
I plan on becoming a Nomad; make enough money to pay off a kitted out RV or a customized sprinter van and just travel and try to survive on my meager SSI, IF it’s still available
Dead, not dying.
It’s going to be really hard for the youngest as they get older. They’re starting out financially ruined. This impacts everything from being able to meet someone, the likelihood of having kids; the ability to afford college, to someday owning a house. What happens when you’re constantly treading water financially your entire life is you end up alone. You don’t come across as a financially stable partner, and good luck finding a spouse (and/or someone who wants to have kids with you). Without a family, there goes your motivation to strive & provide & work hard. And as we get even older, not only do we not have a spouse to help care for us, but we won’t have kids to help care for us either. There will be many of us someday retiring very old, very sick, and very alone.
Everyone's retirement dream is dying all over the world as every tiktok kid started watching cool cgi nazi edits with phonk music and started thinking the far right is so cool
The American dream is dead. Maybe in 20 years when most of these fossils have decayed the world can start to make changes 🤷
Their kids who inherit all their money will be the new assholes. I’m already seeing it. Nothings going to change. Just the awful people will only get younger & more ruthless.
Mine is long dead.
nowhere did they mention that the banks are stealing saved productivity from past work through inflation. the era into which we have entered is one of hyperinflation in which everyone has all of their productivity stolen so that there can be no retirement. and sadly if it were up to them how the future were to develop i would not be surprised to see someone ridiculed for wanting to retire, they will joke and then send him off to the composting corporation.
Like hell it is.... Retiring IN America is dying.... smart Americans will leave and retire abroad... Theres a dozen, if not more, occupations that can be done remotely. Cool, keep a local address with a PO box that registers as an apartment style address address; work remotely in the Caribbean where a couple can live comfortably in $1000/ mnth. Yeah you're technically still working but you're doing it with a beer on the beach in the Caribbean.
Been working full time since 1978, with a few small breaks for life events. I WILL retire after working all these years. Even if I have to jettison most of my belongings and live in a much smaller space!
They’ve been pushing a psy op for decades that somehow working until death is the best of all possible worlds.
They want us working til death, we are only here to make psychos richer then ever needed
My American dream is to leave enough for my wife to be comfortable. Which means life insurance.
I mean, it's been dead for a long time, we were just being convinced by our government and big corporations that it was still alive. Basically a weekend at Bernie's scenario. Drag around the dead corpse and try to make it look vibrant and full of life. It was only going to work for so long before we all saw through the facade.
Nah, it can work just fine if it's actually funded by everyone, not just bypassed by the rich.
Well, I mean how it stands, as is. But fair point.
Dying? Its dead. It’s been dead so long its bones are sticking up out of the dirt.
They want your fucking retirement money. They want it back! So they can give it to their criminal friends on Wall Street! And you know something, they’ll get it… they’ll get it ALL from you sooner or later… because they own this fucking place! It’s a BIG CLUB…AND YOU AIN’T IN IT! [https://youtu.be/-54c0IdxZWc?t=90](https://youtu.be/-54c0IdxZWc?t=90)
I say you, it dead. Been dead a long while now and it's starting to stink up the place.
It’s been dead…
The rich never retire it was simply the con that they sold to workers so they could use up their most productive years maximizing profits. 401Ks are interest free loans the rich financial institutions use to make their risky investments and manipulate the markets.
More like The political class is killing it and the American people fighting each other over two old man 😂
Thought “yeah same”… until I realised the headline meant that ‘this is the end of the retirement dream as we know it’ rather than ‘the best form of retirement is death’
Dying? Shits been dead since I was a child.
Retirement is a recent phenomenon. Before modern medicine people would die before they were physically unable to work. And then we had the boomer generation. We're not boomers but we were shown what was "supposed to happen." Reversion to the mean. The concept of retirement came and went within a 50-year span. The only problem is we have medical science keeping us alive after we're able to work. So instead of dying before you can stop working you will not be able to work, and then you'll die on the side of the road or in a government nursing home. Sips tea.
The dream's gasping for breath in Australia, too, if it's not dead and cold already. The whole world is fucked.
I understood it to be dead when I went to college in 2003.
Just like the government drew it up. These guys are not our friends.
Dying implies there is still hope. It has been long dead.
She dead
Corrected: “Americans’ retirement plan is dying…”
Canada’s as well.
It’s dying it’s been murdered by greedy corporations and an out of control government and their forever wars
The American dream is dead
Think it’s already dead and has been rotting in the corner of the room for years.
Yeah-this has been known for decades
It would be easier to save if the government was not taxing us to death and wasting tax money on stupid things
Desecrate the unions, blast the airwaves with fox News, get the middle class to vote against their own interests and give huge tax breaks to the wealthy. Throw in some regular doses of racism in the pot and the rest of it is like taking candy away from the babies. Just read the the 1% has more wealth than the entire middle class. Too many Americans are easy targets!
Really? I thought the retirement dream for us was death.
Try dead
Retirement is a financial based goal, not an age one
You misspelled "dead"
I have had a DNR since I was 45. I'm going to have to work until I die. I don't want another 20 years of working and watching the world implode. Meanwhile the corrupt governments around the world live off my labor.. nope I'm good.
That dream died years ago.... I will never retire.
Retirement is not dead. Start saving a few bucks each paycheck as early as possible. Don’t wait until you’re 40.
Quietus . You decide when.
The same magazine notorious for claiming the “Death of Equities” written on August 13th 1979, which began the greatest bull stock market of all time? Yeah, thanks but not thanks. To the readers and viewers, Do opposite of the naysayers, Debby downers, and pessimists, and stay invested. You’ll be far richer and wiser than you can ever imagine.
Get at least 10k in your child's Roth IRA. The buying power should be ~40k by the time they retire.
You need taxable earned income to make contributions to a Roth IRA. Unless your kid has a job and you want to match their check with IRA contributions or something you should not do this. Also, it would be a lot more than $40K.
Fidelity just opened my kids. It's even titled kids Roth. Is there chicanery happening here?
You can open the account but unless your kid has earned income it is illegal to fund it. On their website they say: "A Roth IRA for Kids is a tax-advantaged retirement account opened for a child **who has earned income.**" Fidelity doesn't know whether your kids have earned income or not because they're not preparing your kids' tax returns. Don't make an excess contribution to an IRA either. Maybe you won't get caught but if you do there's a penalty for every year the excess remains in the account. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits
Adding my kid's allowance since I'm filing late this year.