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The Tip Of The Iceberg Of The Coming Retirement Crisis That Will Shake America To The Core
TEC ^ | 07/25/2013 | Michael Snyder

Posted on 07/25/2013 11:14:41 AM PDT by SeekAndFind

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To: Chuzzlewit

RE: Raise the retirement age to 71 to 73... that seems reasonable,

Two questions...

Let’s say you work for a company ( as most Americans do )...

1) Will companies continue to employ you when you’re 65 or older?

2) If (God forbid) you get laid off, is it easy to find a job at 65 or older?


41 posted on 07/25/2013 12:20:04 PM PDT by SeekAndFind
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To: Bernard Marx
I am just one of those stupid guys who started putting into IRAs back in my 30s, jumped on the 401k Band Wagon when it happened.

I have my military reserve retirement, pension from where I worked for 28 years, and now social security. But, I live in fear that they will do to my IRA and 401ks what they did to SSI back in the 60s, and leave all of us that planned ahead destitute.

Logan's Run was precient.

42 posted on 07/25/2013 12:20:46 PM PDT by Redleg Duke ("Madison, Wisconsin is 30 square miles surrounded by reality.", L. S. Dryfus)
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To: Lou L

RE: Won approximately 2.2 million dollars in Scotland over the past two weeks, by winning first the Scottish Open, and then British Open.

I’m sure it was discussed here somewhere on FR, that he will be taxed at 60% — in the UK!

_____________________________

Are you saying his REAL PRICE MONEY after taxes is just $1.3 Mill.?


43 posted on 07/25/2013 12:21:58 PM PDT by SeekAndFind
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To: SeekAndFind

There will probably be plenty of jobs for us Old Farts. The younger generation has bought into the line that the RATS offer free stuff, so why work?


44 posted on 07/25/2013 12:22:40 PM PDT by Redleg Duke ("Madison, Wisconsin is 30 square miles surrounded by reality.", L. S. Dryfus)
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To: Texas Fossil
Government is theft by law. Theft of freedom, liberty, privacy and property. For What?

Mo' gub'mint, of course.

45 posted on 07/25/2013 12:24:58 PM PDT by TADSLOS (The Event Horizon has come and gone. Buckle up and hang on.)
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To: SeekAndFind
"Scranton taxpayers could face a 117 percent increase in taxes next year as the city's finances continue to spiral out of control."

Wiki says Scranton has been home to Joe Biden, both Bob Caseys, Hillary Clinton and Robert Reich.

Overspending? It's no wonder.

46 posted on 07/25/2013 12:31:43 PM PDT by Colonel_Flagg (Army dad. And damned proud.)
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To: SeekAndFind

the raising of the retirement age is not for current retirees... it is for new hires...folks in their 30s..or thereabouts.

I am speaking only to public employee unions... not private industry contracts..

I am 60... if my company forces me to retire at age 66 or I get laid off, I’ll work for Target.. I’ll do whatever I have to do... I’ve done it before and I can do it again. I’ll teach private guitar lessons...there are always options in life.

whatever... I’ll scramble... but I won’t sit around as a retired guy, unless I am completely truly disabled or mentally impaired.


47 posted on 07/25/2013 12:44:19 PM PDT by Chuzzlewit
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To: Texas Fossil

Government is theft by law. Theft of freedom, liberty, privacy and property. For What?

The one and only purpose of government is for safety and peace, order rather than anarchy. That’s it. Our government spends billions that they don’t have, and they can’t even deliver safety and law and order, because they insist on allowing millions of illegals to flood over our borders each day, and allow millions to come in from other 3rd world countries who don’t have our values.

Our government is completely broken.


48 posted on 07/25/2013 12:50:44 PM PDT by boxlunch
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To: Errant

Escape while you can...the coming collapse will be sooner than you think...


49 posted on 07/25/2013 12:52:48 PM PDT by Caliban (Politics is war conducted by other means...)
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To: Redleg Duke

Yes, I’m one of the foolish ones as well. The government has already destroyed most of the investment value of my house, which I’ve been counting on for retirement. Now I’m desperately trying to figure out ways to protect the value of our bank and IRA savings. I never thought America would come to this. The maddening part is that the vast majority of Americans have no idea of what’s just around the corner and keep voting for the demagogues responsible for the train wreck.


50 posted on 07/25/2013 12:55:44 PM PDT by Bernard Marx
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To: AngelesCrestHighway

The government will know which senior citizen to keep alive ( those with money to be taxed away from them) versus the impoverished senior citizen who will receive no care because he is useless...the impoverished will be tossed aide based on healthcare “decisions”...

Soylent green won’t be food...in the future it will be money stolen from seniors to prop up the crumbling economy that in a few years even illegal aliens will come to reject...

Future workers are slaves to the failing government systems....work to pay bills, taxes and inflated prices for Chinese made items...


51 posted on 07/25/2013 1:05:19 PM PDT by Caliban (Politics is war conducted by other means...)
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To: VRWCarea51

Senior citizens will be herded by the government healthcare system...if you are an impoverished senior...don’t ask for help, they will lead you instead to the “showers”...


52 posted on 07/25/2013 1:07:40 PM PDT by Caliban (Politics is war conducted by other means...)
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To: Caliban

I think Obamacare will pretty much fix the Soc Sec and Medicare funding problems. Every year sliced off the lifespan by the Death Panels is a HUGE budget improvement.


53 posted on 07/25/2013 1:15:52 PM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: Jimmy Valentine

I thought lbj (loser baines johnson) was a DIMocRAT.


54 posted on 07/25/2013 1:17:41 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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To: nascarnation

End of life abortions....


55 posted on 07/25/2013 1:20:24 PM PDT by Caliban (Politics is war conducted by other means...)
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To: Chuzzlewit

I really don’t understand why you are annoyed with a government worker who did their end of the bargin. Some of you act like you were forced to go into the occupation you hold. I hardly think it is fair to bash a government worker who made a different choice then you did. I imagine you hate the billionaires too. Actually I believe some o f you do...Zuckerburg and gates make the green with envy folks scream around here.


56 posted on 07/25/2013 1:20:29 PM PDT by napscoordinator (Santorum-Bachmann 2016 for the future of the Country!)
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To: Steely Tom

Ditto that.........


57 posted on 07/25/2013 1:25:32 PM PDT by Osage Orange (Light travels faster than sound. This is why some people appear bright until you hear them speak.)
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To: napscoordinator

“Some of you act like you were forced to go into the occupation you hold.”

We’ve wrestled on this topic before, I think.

You were promised money that neither you, nor the government has.

You expect someone to pay for your retirement who must sacrifice their own retirement to fund yours.

You may feel pretty secure in that bargain. You shouldn’t.

You may think you were pretty smart in choosing to work for the government because they would take everyone elses assets and give them to you.

Don’t count on your retirement being paid as you planned - because while the “bargain” you talk about was being made between you and our big government, someone forgot to ask the folks who’d be paying the bill if they minded. I assure you they do.

So retire early, get whatever money you can, but don’t get too comfy.


58 posted on 07/25/2013 1:29:32 PM PDT by RFEngineer
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59 posted on 07/25/2013 1:36:50 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: Caliban

Thanks, I must say you made it sound nice. I never expected things to last this long. Just today, gave away a carload of food getting close to expiration. Now have to buy and store newer supplies. That’s fine though, the older food went to someone who needed it and I’m in no hurry for the SHTF.


60 posted on 07/25/2013 1:41:46 PM PDT by Errant
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