How would you like it if all employer of federally sponsored retirement programs were done away with? This would mean no employer sponsored retirement programs that match your contributions, no defined benefit programs, no social security, nothing but what you save for your own retirement?
Given that a person, say my age, 45, needs about $2.3 million in the bank to retire, what would the economy look like?
What prompts my question is the issue of the Social Security Trust fund, which is down to a paltry $3 trillion. If none of these accounts existed, what could people afford and still be able to retire?
ONLY alternative to it is having several generation of family live under same roof, the way it was done everywhere 100 years ago.
That is the reality today.
It's not easy or fun.
All it takes is one bad fall from grandpa to ruin everyones work day not to mention days in the hospital.
Or who's turn is it to take the grandkids to school and grandparents to their medical appointments.
It gets worst if dementia kicks in.
I'm willing to bet the time spent away from work to take care of the elderly parents and grandparents is costing us billions in productivity.
I have already begun adjusting my long term outlook. I had planned on living untill 72. Now I'm learning from baby boomers who are caring for their parents who are outliving their retirment funds by a long stretch. I now plan to work longer after my "retirement" from the Corps., and possibly support and house my mother as well.
Euthenasia, oh yes... Work till 65 then its off to the soylent green processing facility
Simply, solved.
"It is every citizen's final duty to go into the tanks and become one with all the people. "
Chairman Sheng-ji Yang, "Ethics for Tomorrow"
Last edited by Tyon; 04-30-2012 at 11:30 AM.
Walmart Greeter for the Win...........