It reads like prep for Obama to seize these piddly 401’s and give everybody a union retirement at say 30% of their income. You won’t need heat, housing or anything else to be in the gulag. That 80-85% is what the teachers get before they double dip. Many make far more in retirement than they did while in the system. I won’t say teachers and working when unions are involved.
Watch your back closely.
You’ve got to start saving in your 20s, it makes a huge difference.
They must be talking about gov’t union employees. We are getty for early retirement with about 65% providing BO does snatch our 401Ks and they don’t tank again.
You know, this keeping the same standard of living is a big fantasy.How can anyone think that they could keep spending like they were working and be ok? There is no way to tell 20 years from now what the cost of living will be so thinking one can keep living like they always did to me is a complete dream.When you rtire you pay your bills,buy food, nd save the rest for emergencies anythng more and you risk needing a part time job when you are 83.
I've been working since I started delivering newspapers at age 13 and I intend to work until I die. If I had nothing to do but sit around the house all day, I'd die of boredom anyways. And I don't say that because I'm a workaholic. I have plenty of hobbies outside of work and my work helps to fund them.
Not that I intend to stay in the rat race my whole life. When I get into my 60s (I'm almost 50 now) and my mortgage is fully paid off, I'll likely switch careers to something that does not involve as many hours and travel (I think that's called semi-retirement). Maybe I'll do an internet-based business out of the house or become an online columnist (blogger). But I'll do something to bring in an income so that I can pay the bills and anything I get from 401(k) or my other investments will be gravy.
I know people who are "retired" and they all say the same thing, retirement is overrated!