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So You Want To Retire? Five Disturbing Statistics About Retirement: An Infographic
To all Americans in their twenties, thirties, forties, or even fifties, naively looking forward to their retirement, we have two words: "good luck."
One look at the flow chart below and we can't help but wonder: just how many Americans actually follow the "plan" of what they should do to prepare for retirement. A million? Two? Less? And how soon before the government decides it knows what's best for everyone in this particular touchy topic - because since the US welfare system is now hopelessly broken and unsustainable, then the retirement "option" for virtually everyone is a non-starter - and begins imposing behavioral mandates, not to mention taxes, to "steer" the population into the proper "avenues" and "channels"?
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CA lifeguards are great, I remember about 10 years ago getting caught in huge surf at Laguna Niguel. I stumbled out of the ocean sputtering and the lifeguard was right there. He lectured me about how I needed to take big surf a lot more seriously. Struck me as having about an 80 IQ but he was exactly right and if I hadn't made it out by myself I'm sure he would have been there to drag me out.
But $120k??? $60k, maybe. As much as I appreciated that kid being there, let's face it, his job wasn't rocket science and I'm sure there was a line down the beach to take his job if he wasn't there.
Ill pay them 60K to work on the beach in Laguna Niguel
Newport Beach, the 'Wedge' is where I realized I was 'old'. That fuckin' surf jammed thirty pounds of sand up my ass and tied a garland of kelp around my peter. The buddy I crawled out with had a broken vertebra in his neck (found out next day)…he realized he was old, too.
Once we were able to stand we staggered over to beach chairs and drank beer the rest of the day.
Luckily, there were other parents there to monitor the scouts.
how about no lifeguards, you take your own chances about where you swim, and use the money to pay interest on CA debt until there isn't any...jesus H christ
Where is the "Stack Phyzz...as much as you can!" advice slogan that should be under every age catagory?
You mean those non-existant public employees you hate because you don't hate the people that are actually screwing you over?
If it's so damned great, then why the hell don't you join them? Pfftt.
Those public employees get cost of living increases that private industry doesn't do. If you retired two decades ago from private industry inflation has cut that retirement in half.
+1000
The new class warfare
Public employees are in the same class as you if you work for a living.
*checks work history*
Hmmm... No COLA, no retirement, no union. No politicians vying to pay me more.
I believe, sir, you are mistaken. Woefully so! So much, in fact, I believe you are intentionally lying.
And post retirement medial health care benefits, COLA'd alike... and many senior types even double dip by taking on new jobs after retirement in associated governmental agencies, consulting, etc.
It's rampant out here in CA
And viewed by "participants" as an entitlement.
The very same miscreants decrying any sense of similar activities in the private sector as conflicts of interest, fraud, illegal, etc.
But's A-OK for them, the statist masters of the peasantry.
CA will soon be nothing more than a broke, 3rd world nation full of welfare addicts. Bank on it!
Soon? We already are.
the uncola. Then again, they keep changing the cola recipie. No more cocaine
I just threw all my coffee in the commode and flushed it. The DHS is serious!
Should I also throw out the coffee maker to be safe?
@CharlotteAlerts tweeted:
News Alert: U.S. Department of Homeland Security warns computer users: Disable Java now http://t.co/UCYqWgan Story metadata:Crap, too late! My PC just flashed Allahu Akbar and BSOD'd on me.
The EPA will be knocking on your door any minute now for unauthorized toilet flushing.
complete with photoshopped images of you giving SWIRLIES to underage kids...
Naturally, it would be the only way it could possibly be believed.
Kind of like the MSM focusing a microscope on a "flu epidemic" of 34 deaths ;-)
CDC and Big Pharma fear based meme to get you to consume those mercury laden vaccinations that have fuck all nothing to do with any strain of flu (As admitted this year by the CDC themselves, but best to still get the shots, etc.)
Aaaaaaaaarrrraaaaaaghhhhhhhhh!
+1
We hear it every year...YOUR GOING TO DIE A HACKING, FLEM SPEWING HORRIBLE DEATH IF YOU DON'T GET >>>OUR<<< FLU SHOT!!!...or variations of it.
Ummm, no.
I just went through it, it sucked as always...my body dealt with it, I'm fine and the mucus colors weren't nearly as bright & solid as two years ago ;-)
Hear ya guys...
I'd rather have the flu than the vaccine.
CDC = NIDI [Nanotechnology Injection Delivery Iniative]...
~~~
Thanks for playing ~ We're happy if we cured your snivvlez for a day...
ever since I started eating a lot of garden greens, I don't get sick. THe news on this site makes me sick, but that's different
Frightened people are more....um...pliable.
74). "A mind that is positive cannot be controlled. For the purpose of occult dominion, minds must therefore be rendered passive and negative in order that control may be achieved. Minds consciously working to a definite end are a power for good or for evil." (Occult Theocracy, p. 581)
At my age I'm sorta looking forward to a good, purgiing shit. Could stand to lose some weight, too. I'll take the flu for $500 Alex.
I would give the typically 20 year old in the world today about a 50-50 chance of not starving to death in 2063 let alone retire in the conventional sense...
I'd give the typical 20 year old a 50-50 chance to make it old enough to rent a car....
I'd give them 1-5 that they CRASH the same rent a car...
Loss Damage Waiver....bytchez!
in should read by
Always with the negative waves, Flakmeister, always with the negative waves. Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change?
Yeah, I enjoy sipping some wine, eating cheese and catching a few rays...
Do you want to hear my other dog impression?
One of my favorite movies of all time. Awesome ending when the scarred SS guy joins Kelly in stealing the gold. "But you are the American army". "No, we're not baby"
I'm 53 and I expect to be a dried up corpse on the side of a desert dirt road in the next ten years. 50/50 are generous odds, but you narrowed it to starving to death. I'd give a 20 year old odds of 75/25 that they are killed by gunshot.
My five year old nephew and his four year old sister...90% starving to death versus 10% thown bleeding and close to death on the steet by a transient pedophile.
Gee, I left Govt Service because I wanted to work until I drop ... retirement is over-rated.
gonna be lots of openings for guerilla fighters in us. it's comin'.
And even more openings (for replacements) on the government side if they're successful. Sure hope the control freaks chill the fuck out before this goes down, but it doesn't seem likely.
I'll just counterfeit me up some fiat paper to pay taxes (they love fake money apparently) and barter some shine for food (in honest exchange with the normal people) just like ole Grandpappy nmewn did.
Its all good ;-)
just listening to an irish gal talk about her permaculture holding. She makes a lot of wine. The interviewer asked her for her favorite and she said I don't drink. He then asked her to explain and she said that's none of your business.
What the heck is with this advice? Enroll in a 401(k) in your 20's? Why? So it can be forcibly re-invested in "safe" government securities?
Same in regards to Roth Vader IRA.
Go metals, possession is 9/10ths of the law.
401k's and IRAs can be nationalized a la Argentina. I dumped my IRA in late 2008 when I saw who won the election, and yes, I had to pay a lot of taxes and penaties. But the money is MINE now, and I sleep better.
I did the same, but my decision was due to math rather than election results, once it was clear around October 2008 that printing was the eternal answer, I liquidated. Second best financial decision I've ever made.
What was the "best financial decision"? A boat with holes in it?
I got in AU in a big way in 1998-99. The dollar-cost-average price of what I lost in the boat accident is so low as to be unfit to print. Obviously boating was the worst financial decision I made.
Roth's are the worst of all because the government will double-tax them (going in and going out) at some point.
It is all about consumption vs. savings... people bitch about not making ends meet but have no problem dishing out $500/month on a car note, $150/month cell phone bill, and $100/month for cable TV.
I'm sure theres a government program that will make all those nuisance payments go away.
the foreign legion?
Btfd!
Cashed in my 401k and bought phyzz & .223. Barter now with one and save the shiny for later.
The % return is unbelieveable.
One glaring thing that is absent........
Stay as healthy as possible!!! Your health is more valuable than anything else, & can be the most costly in financial terms when you lose it.
This.
"Stay as healthy as possible!!!"
Often proclaimed, seldom acted upon.
Ignore most everything government health 'experts' say, remember that you dig your own grave with your teeth, and adhere to Liebig's law of the minimum when it comes to supplementation.
http://en.wikipedia.org/wiki/Liebig%27s_law_of_the_minimum
Liebig's Law of the Minimum, often simply called Liebig's Law or the Law of the Minimum, is a principle developed in agricultural science by Carl Sprengel (1828) and later popularized by Justus von Liebig. It states that growth is controlled not by the total amount of resources available, but by the scarcest resource (limiting factor).
You said it. And local organic food production does this and a hundred other things. It lowers more cost, gets you out of the system, hurts Monsanto, hurts the bankers, hurts BP, lowers government in your life.....
Retirement, is the point where a person stops working completely. Emeritus exclusions are granted on occasion. \
{ Professor, Bishop, ect...} emeritus Latin/retirement plans= Dead languages<>
In the New Normal death will be the point where a person stops working completely.
+1 Tango
Death is nature's way of telling you to slow down.
I'll work until I'm dead, but not a minute longer.
At $50k a year $250 is taken out each month to fund current SS benefits. Another $250 gets paid by the employer. My grandmother gets paid $1200 per month.
It takes 2.5 workers at $50k a year to pay for my grandmother's benefits. There aren't 2.5 working people for every person living on SS. Especially with 100 million people on welfare.
Add it all together and we'd probably need everyone in China to kick in $500 a month to fund the coming SS and welfare shortfall.
It's actually worse than that. The median salary of a full-time private sector worker isn't $50k... its only $39k and change. If we include part-timers, the median falls to $27k. How many workers does it take to support granny at those levels?
($50k in salary puts one at somewhere around the 70th percentile, btw)
Can't agree with 'delay social security benefits'. Get them while you can. Delay means dilution, confiscation or denial.
Consider them as your way around ZIRP at age 62 ( which I'll be in 10 months). If Bernanke and Obama insist on taking my interest income I can at least get some of it back via an early social security claim.
Totall agree. Get 'em while you can. If you don't need them to live on right away, pile them up in an account (purchasing gold??) and leave them there until you hit the next "step" in the benefits payout staircase. Take a look around then and assess the situation. You can always hand back what you got and start over at the higher monthly benefit level if that looks like a better idea at the time. If not, keep the money and keep on going. At least gives you some options.
Actually, they closed that loophole a couple years ago:
http://www.cbsnews.com/8301-505123_162-37841858/the-end-of-social-securitys-interest-free-loan/
Still better to take the benefits at the earliest possible opportunity.
Almost daily I see jets flying high overhead spraying aerosols into the atmosphere. The government says it is about weather modification. Well for sure the weather is screwed up big time. Yesterday a friend of mine from Little Elm, Texas sent me a photo he took where his yard was covered with marble size hail. Hail on January 13. If weather modification is the goal of the spraying then "mission accomplished." I can't prove it but I think the spraying could be of a much more sinister nature. Our government has been working for years on gender, race and age specific biological weaponry. Has this government discovered a way to nip the explosion of baby boomers entering retirement age in the bud? Anyone that still believes our government is here to serve us is going through life with blinders on. The fact that our government lied to us about WMDs and turned Bin Laden into a boogy man that was never placed on the FBI's ten most wanted for lack of evidence should make every American suspect of this government's goals.
you're paying attention, as few do.
I've found zeolite to be an effective "antidote"
best wishes.
Why worry about big student loans when it's fixed interest and USD denominated? If anything, take out the max, live frugal, and put extra away in something that will have value over the next ten years.
I'm banking on a full scholarship courtesy of the Fed.
I guess this was intended as the Friday humor post. Saving is for suckers! Be assured that the government will confiscate or inflate away any money that you try to save long before you reach retirement age. (For your own good, of course.)
It sure looks like Friday humor. Recommendations in your 50's: Cut off your grown kids.....lock up long-term care. Could those be related? Multi-generational household's aren't just for 3rd world countries and recent immigrants anymore, as much as the NAR wished to the contrary.
In your 20's: Be smart about debt....establish good credit. Translation: max your credit cards but keep paying the interest. The TBTF banks thank you.
Enroll in a 401k, convert to Roth IRA, dial back investment risk, arrange for lifetime income. Only possible with a time machine.
To sum up: do the same old shit that isn't working now. This message paid for by Fidelity.
I dont want to retire. I like what I do. I do what I want. Ill be doing it in my grave aswell .
Do you choke the chicken and post it on the Internet for ad money?
Laying around doing nothing?
You rot motionless covered in dirt?
he's clearly an entomologist
Innvesting in a 401(K) or IRA is probably a horrific idea >>> how much do you lose in fees to the big boys? Quite a bit, which was the intent when they got these things rammed thru Congress......and then there's the problem with the USD......
what happens when Bernanke needs it all? And says that to "help" you save, you are required to invest all of it in US Treasuries......as they sink into the abyss.....I mean, I think we pretty much all know that they see the peasants' "savings" as theirs to tap when necessary.
I wouldn't put a dime in these things. Buy gold coins, buy silver. start now.
Yep. A glorified capital control scheme.
I've worked in the 401k/403b industry for years. And my "big picture" concerns are the same as yours. I'm afraid that the government is just going to scoop them all up someday, force you into a government-run mandatory retirements savings account and switch all your investments over to Treasuries. You'll be given investment choices, obviously- whether you want 1,3, 5, 7,10 or 30 year!! No lump-sum payouts allowed. Just a calculated lifetime annuity payout based on what you've accumulated the day you retire. And legally-mandated minimum deposit percentages from you paycheck if you're working, too. Yes, IN ADDITION TO the 12.4% you and your employer and putting into SS from your paycheck, not in replacement of.
I would NEVER tell anyone to put all their savings into a 401k. Having all your savings locked up in "retirement accounts" is foolish, even if you assume zero risk of government confiscation. You need savings outside that world. Even today, getting at that money requires pulling it through the "tax filter" as I call it. People love their 401k while they're working but hate it when they're retired.
Roth is an interesting option (whether it be a Roth 401k or Roth IRA) but the chance of the government living up to it's promise to never tax a dime of those proceeds later (gains or original contributions) does seem to strain credibility. That has "gotcha" written all over it 10 years from now.
If your employer offers a "match" on your contributions, invest enough to get them all. It'll probably be worth it if somehow we get through all this without the government just taking everything and telling us all to get bent. If not, it won't matter where you put your money- they'll find it and take it. Even physical gold won't work- they've already got a good idea how to track you down if you've bought recently and they'll be tightening that tracking mechanism just like they're about to tighten down tracking of weapons sales. There won't be much "off the grid" left 10 years from now.
Last thing- watch when you see pundits talking about taking away the tax advantages of retirement accounts. There are precious few tax advantages already- pay it going in or pay it coming out. All you get "free" is any gains you make along the way (if there are any). Employers HATE 401k/403b plans- too much adminsitration (cost). If the modest tax advantages go away they'll quickly drop them anyway because employees won't care if one is offered or not. Mostly they exist today because it's an employee attraction/retention tool. In very small companies they have other reasons to exist, but in big companies it's just another employee "benefit" they hate to deal with and really wish would jus go away. In short, most employers would LOVE if the government took over retirement plans completely.
However, in most states IRA/401K money is immune to lawsuit. If all your wealth is in them, you are judgement proof.
You mean like in a divorce? Fraid not. "Quadro" orders (Qualified Domestic Relations Order) are commonplace. Other legal actions, it depends, but in general (like REALLY general) you are correct.
And with the statutory limitations on how much you can push into a qualified account from your income every year (plus matching, which is usually modest), it's difficult to put enough aside to really get lawyers salivating over unless you work and contribute for a freakishly LONG time.
It *seemed* like a good idea when companies were matching your contributions. I figured, even if the market dips, BTFD, right? It's a great way to save.
Then the economy tanked, and the matching stopped.
Then I needed to use "my" "savings" and I discovered how much of it simply evaporated when I tried to grab it.
Like a mirage, or a hologram.
I would have been better off paying down debt or stacking up hard goods.
Cutt off your kids? Who the hell are they to tell me what to do with my kids?
Yeah, starve and alienate those assholes. Not like you'll need young ppl who can do physical work to take care of you later, because the government will always be there for you.
Don't forget to buy a reverse mortgage, don't even think about giving that house - or the equity - to your survivors, what the fuck did they ever do for you anyway? Try to die with absolutely no money left. It should'nt be too hard thanks to Tim, Ben, Barry, Jamie, et al.
Totally agree. Instead of cutting off your kids think of them as dependable renters. I would change it to "if your kids are still living at home, make them get a job (even part time) and contribute to the household expenses".
"Convert to a ROTH IRA."
ROTFLMAO
by the way, "arrange for a lifetime income"????????????????????????? from who? One of the bullshit annuities that the big boys sell? Are you kidding with this? Who says they are going to be solvent enough to pay you off in anything but a pile of corporate tee shirts?
Yeah, it's really sad when an article has to bullshit like this one.
Author should just step the fuck up and say...
Live on cat food.
Work till you die.
Pawn everything.
Steal from your kids.
Move into van down by the river (then under bridge down by rivier).
Etc.
Nothing that the Obamunists can't solve with more spending, printing, taxes and "fairness."
Wealth tax for everyone. I suggest 10% especially for those over 55
This article was directed at Canadians, you can tell from the pictures of the Canadians in the graphics
"Oh, that's your little brother? I thought he was a wastebasket."
HAHAHAHAHAHAHAHA (breathes)HAHAHAHAHAHA!!!!!
Blame Canada!
Thanks booboo, needed that.
Hey Tyler......thought you may find this story interesting. Maybe a sign of what the insiders know:
http://www.calgaryherald.com/business/money/Prime+minister+wife+sells+en...
OTTAWA — An ethics disclosure filed by Prime Minister Stephen Harper shows that his wife Laureen liquidated her entire portfolio of stock market investments late last year.
The prime minister last month amended a disclosure of assets and liabilities he had filed with Ethics Commissioner Mary Dawson and removed its reference to his wife’s investments.
Previous versions of Harper’s MP disclosure said his wife held an “investment account with Raymond James Ltd. partly composed of publicly traded securities.”
That line item was not found in an updated December 8 version of the document, which lists no other declarable assets.
“Mrs. Harper’s updated disclosure reflects the fact this account was liquidated,” explained Andrew MacDougall, Harper’s director of communications."
Oh Canada...lol.
Well Done . I'll interject at a later date.. Ref: Carney BoE exchange.
We have postulated the reasons why individuals retire many times on Z/H. Most people retire against their will.
Health,Family,Obsolescense,change of venue(Entrepreneurship) are primary factors.
No matter what anyone says, a brilliant mind never wants to retire unless it's forced to. When an individual spends 30-40 years perfecting his her skills, it's about mortality!
do you mean people stop posting on zero hedge, or they retire more than once from zero hedge..are you more than one person? i have "retired" from 3 employers and once from myself in between and the latest "retirement" is well below "big brother's" definition of what constitutes the cessation of my worth to a worthless society of fat bankers, corrupt governments and (a lot of) blood sucking beneficiaries
i will now decide whether to get a dog or run for the JD party :)
I'm hoping for a student loan to get in an gubermint reeducmacation camp. By then though they'll probably stop the buy voter handouts; and proceed to full on animal farm communism. I'm hoping for a fema trailer that's not a chemical death trap. Like the katrina ones; that buffet's company made.
Maybe you can just "air them out" somehow. Would be nice to get one on the perimeter of the camp with a nice view of the towers and razor wire. Prime real estate my friend. Living large.
Long diapers and bibs.....
Anyone foreigners have a spare couch???
Fuck retirement. I'm going to college until the day I die. Just wondering what kind of Spring chickens coming up in February's classes. Pretty hot batch last semester.
Until the last couple sentences I was thinking Sandra Fluke ;-)
"Buy a House, convert IRA to a Roth."
Better advice would be to take a long walk off a short fucking bridge.
smart money knows to convert is to pay higher taxes in the long run.
Instead buy a multifamily apartment under a business, live in that.
Buy a warehouse full of guns and ammunition, then lobby for a massive gun ban, then sell on the free market at an enormous profit. It's best if you pay off the authorities. It's even better if you don't have to buy the weapons in the first place.
"Buy a House, convert IRA to a Roth."
~~~
No ~ what you should alternatively consider is to stuff a dynamite filled circumcized cock up your ass edifice, light the fuse, & sing Hava Nagila until something happens...
No, get a SBA loan to buy a warehouse full of guns and ammo- have illegals run the warehouse and sell them (the guns, not the people asshole) back to the Mexicans. Oh wait, that business model is already take buy the government.
Calpers and Gov. don't qualify for retirement. Long Guillotines Bitchez /
I've got a strategy, its called "Don't trust the banks"
Every instrument they've crafted seemingly for your benefit has multipliers for their own sordid deeds. (Such as savings fueling prop-trading for one).
Fuck Roth IRA, FUCK 401k, plain old FUCK STICKING YOUR SAVINGS IN A BANK.
Stack what you like, turn your paper into something that matters TO YOU. I don't care if that is metals, land, goats, finely dressed whores, whiskey, or a dock on the side of the river.
Screw these manipulating fucks and their calculating schemes.
Fuck those fucking fuckers!
All the people who aren't saving have the right plan. I used to think I could save and to hell with what anybody else decides to do. The problem is, we have a government that is completely unpredictable with regard to private property and will seize wealth whenever it is deemed necessary to do so. So no matter how hard you save or how much hardship you put up with in order to have a nest egg, tomorrow, poof! I don't advocate free spending, because I guess there's a chance I'm wrong about this, but man, it looks like one way or another they're going to take everything away.
Here's the real truth: There is absolutely nothing you can do to save for the future with any reliability. Not even precious metals--they will surely fuck all the stackers. In fact, they will make especially sure to fuck all the stackers. 401K? Please. Those things have been a complete fucking joke since 2000. Cash is good, until it loses purchasing power.
To "retire" nowadays means you quit your corporate job when you simply can't stand it anymore and take on some kind of hobby/fun job to cover your basic living expenses and enjoy running water, a heated home, and simple vacations. That's the most comfortable outcome.
works for me...cept i get a little bored every now and then :) but not often!
Just get a nice, heavy as fuck safe, build a little nook hidden inside your wall or floor, and save your wealth in PMs, hidden from everyone, including your family.
Never got him or his gold.
http://en.wikipedia.org/wiki/Davis_Wolfgang_Hawke
"Greenbaum said the family believes Hawke buried gold in the White Mountains 130 miles north of Boston. She said he once confided to her that he used proceeds from sending Internet spam to buy gold — rather than expensive homes or cars — because it would be more difficult to seize in lawsuits.
"We don't know where is he," she said. "We certainly wouldn't allow him to put any gold on our property."
http://www.cbsnews.com/2100-201_162-1898909.html
AOL believes Hawke may have buried gold and platinum on his grandparents' property and his parents' property in nearby Medfield.
Davis said it's highly unlikely that his grandson buried anything of value on his land. "I think there's one chance in 10 million," he said.
Hawke's mother, Peggy Greenbaum, has maintained she intends to fight AOL's attempts to search her property.
Nicholas Graham, a spokesman for AOL, declined comment yesterday.
Davis said AOL had planned to begin the surveying work on Monday, but had trouble with its equipment. No new date has been set, he said.
He said if AOL detects anything underground and asks to dig up his yard, he may still oppose that. "I don't want them digging," he said.
http://www.dailynewstranscript.com/news/x1817347378#axzz2Hlo6uQZbCheck the lake!
That did not stop Americas from eating to have the fattest asses and spending the last dime for iGadget.
So, conclusion: don't think Americas have the IQ (if I am kind enough not to call them retarded) to know where they are.
To put in another way, there is no chance we cut any entitlement or spending.
Kind of funny thing happened last night - I was waiting to pick up my curbside Chinese food and was parked next to the entrance of a girl's clothing store at the mall. A fat 40-something white mom walked out the door with her daughter. Then another fat 40-something asian mom walked out with her two kids. Then another fat 40-something latina mom walked out the door with her daughter. Three different women, three different ethnicities, all three were 60-100 lbs overweight. Welcome to America......
Too late, I invested well and retired last year at age 54.
Bet ya ate some crackers over that one? I'll bet the leases on your "Kabuki Theatre", deals are coming due. Japan is reverse twisting. JGB yields are about to explode!
me 3!! we are spartacus!
Don't fuck with Caligula. ( the senate migth kill you)
i know....i went anti JPM on another thread and got a very bad feeling!!! i wonder who crassus, pompei and julius ceasar equivalents are these days..i have a a fair idea that a cross on a ballot box is an apt euphemism for what happens to voters!
You know what you should do right now in order to have a nice cushion for retirement? You should take your money and put it in a piggy bank or in a Bernanke 3-year Certificate of Deposit at today’s rate from 0.35% APY – 1.31 APY with a national average of 0.54% APY, according to bankrate.com.
And when you’re ready to retire, that money will buy you a new hat!
The government now has programs that will teach you how to save by putting away a little something each week. It’s called mental torture, i.e., snafuing the citizens mathematically by trying to destroy them, you know as a little DC joke, knowing the Fed is going to inflate their savings to zero.
It’s kinda of Congress’s little joke on Grandma and her little grandson, Bobby. Something for our reps to chuckle about while riding in the limo with the mistress.
And as far as this story and Gallup go, they just really, really hope you’ll work until you die so they don’t have to pay you anything. It’s part of Obamacare Czar Dr. Ezekiel Emanuel’s Reaper Curve.
Read more: http://www.bankrate.com/partners/sem/cd-rates.aspx#ixzz2HicGaFXG
Get the Tumbleweed outta here......
http://www.tumbleweedhouses.com/
Is that Ted Kaczynski's place?
I've been in bigger outhouses.
All very nice suggestions ~ IF you are on the "job-with-company, saved-money, pension-plan" track...
But what about those of us who are normal (Walmart Greeter) types?
Wallmart Greeter> Meet landfill extraordinaire.
Better to throw away your 20% downpayment (In San Diego that 20% is big money, too)? The interest you pay on your mortgage is different than rent?
I WISH I had rented 8 years ago instead of buying...
And I knew better, but the wife wanted to "own" and, you know the rest of the story..
Speaking of retirement - as Cockroaches win again in a matchup with Congress - how about retiring Congress? And this poll is for real. .From Gallup’s competitor, Public Policy Polling (The Wall Street Journal ranked PPP as one of the top swing state pollsters in the country during the last Presidential election)…
Congress Somewhere Below Cockroaches, Traffic Jams, and Nickelback in Americans' Esteem
by Tom Jensen |January 8, 2013
Our newest national poll finds that Congress only has a 9% favorability rating with 85% of voters viewing it in a negative light. We've seen poll after poll after poll over the last year talking about how unpopular Congress is but really, what's the difference between an 11% or a 9% or a 7% favorability rating? So we decided to take a different approach and test Congress' popularity against 26 different things. And what we found is that Congress is less popular than cockroaches, traffic jams, and even Nickelback.
Here's what we found:
It's gross to have lice but at least they can be removed in a way that given the recent reelection rates members of Congress evidently can't: Lice 67 Congress 19
Brussel sprouts may have been disgusting as a kid, but evidently they're now a lot less disgusting than Congress: Brussel Sprouts 69 Congress 23
The NFL replacement refs may have screwed everything up, but voters think Congress is screwing everything up even worse: Replacement Refs 56 Congressmen 29 (the breakdown among Packers fans might be a little bit different).
Colonoscopies are not a terribly pleasant experience but at least they have some redeeming value that most voters aren't seeing in Congress: Colonoscopies 58 Congress 31
And you can make the same point about root canals: Root Canals 56 Congress 32
You might get a bad deal from a used car salesmen, but voters evidently think they're getting an even worse deal from Congress: Used Car Salesmen 57 Congress 32
Being stuff in traffic sucks, but voters are even less happy about being stuck with this Congress: Traffic Jams 56 Congress 34.
The rest of the story…
http://www.publicpolicypolling.com/main/2013/01/congress-somewhere-below-cockroaches-traffic-jams-and-nickleback-in-americans-esteem.html
hmmm..if 47% receive taxpayer largesse... and 9% view it favorably...that means 38% are biting the hand that feeds them...or are idjuts..
Retirement will not be the problem, having any money to survive it will be. Take your typical straight white male over 50 years of age. When he becomes unemployed, chances are good he will remain that way unless he becomes self employed. More people will turn to "alternative markets" to survive and or prosper. The mainstream road to retirement is paved with lies and broken promises. Many will discover this inconvenient truth somewhere along the way.
My retirement plan? Bank Robbery. Either I will get away with it, or I will get 3 hots and a cot for life.
Chances are that prison health care will be better than healthcare available outside anyway.
i resemble that profile...i choose to be unemployed and take no benefits and pay no taxes. i have provided for this lifestyle with good luck and (aside from too many wild nights) lived within my means. i may discover the incovenient truth of being a victim of government or personal crime..that is my look out..but..i am not yet losing any sleep over it.
This thing doesn't include 4 major things:
A) Stable health insurance? LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL
B) Investing in Gold/Silver. Because..........
C) ......having money in a 401K or Roth IRA is dangerous due to the fact at any moment......
D) ....the Market crashes for the FINAL time, Wall Street takes the scraps, and the super hyperinflation begins to the soundtrack of "Disco Inferno".
Then EVERY number of age on this graph is FUCKED.
Are you ever going to grow up? I Want to like you!
Why is it that "you" feel inclined to flaunt fiat?" Just be real, and learn. Snoop Dog isn't a good " Representative"!
When, up until the last 200 years, was retirement savings a concern? Back 500 years ago did an aged race mete and dole their pittance from the government? Not until taxation and gov dependence they didn't.
Retirement is a new concept (coming out of the FDR Socialist period and then forwarded by brokerage houses, banks and financial planners... to soak you for money over decades of time). It is unnatural and unhealthy. It is good to be productive and a contributor up until the day one dies. Best to "die in harness" so to speak. Obviously best to own and run your own business, and of course be interested in and enjoy what you do... as well as continue to develop your skills and competence.
Our country would have a lot more productivity and wealth if Americans hadn't fallen for the retirement lie. And those retirees who died early probably would've lived longer if they didn't unwittingly fall for, or volunteer for, the death trap of retirement.
Withdraw from life, lessen your activity and involvement, don't participate, lose your sense of self worth and contribution to your family and society and the world at large, spend all your time at the golf course and the doctor's office. Another formula for death. A part of THE AMERICAN DREAM brought to you by our Fasicst government and their support of their cronies who run FIRE.
i would agree with that (and still be working) were it not for the simple fact that I will not work for a bankers bonus and a corrupt government...I am SPARTACUS!
Not entirely true. No, many employers have mandatory retirement ages, while others are just too hard on the body to be done beyond the age of 60. As I had mentioned in an earlier post, once you are past 50 or 55, it is VERY difficult to find employment. Why hire a 55 or 60 year old when you can get a 25 yr old Mexican for half the money and work him/her twice as hard? There are some seniors who find work, but for most it is out of necessity, and not just to "contribute to society" {communist term}.
What you say is good for a standard worker bees. Those of us who know how to live a life certainly don't follow anything like what you suggest. Life was meant to be enjoyed and lived to the fullest. I am 59 and have worked all my life on and off and traveled the world by sailboat and otherwise. I have a good marketable skill usable world wide and I take on NO credit. Sure I'll work until I drop but it is a joy and not in any sense like you suggest.
there is a trick to keeping your capital in a safe place until you draw it down..bank accounts, 401k's, gold coins...but...the basic premise is the same...you have to not consume now, store it, and consume later.
always get the best job you can.
used to be you would work 40 years and live ten years in retirement..you needed to defer 25% of your earnings and you would be "safe" in retirement, using any ill-gotten or well-gotten gains for health care and paying household bills with an annual holiday.
now you need to work 50 years and live 15 years in retirement.. you need to defer 30% of your consumption to make yourself "safe" in retirement.
any annuity rate below 5% (nominal) is a complete con. you will live 20 years in retirement. you can take 1/20th a year of your capital and run it down to zero over 20 years..this is 5%..adjust the numbers if you think you will last longer (e.g. last say 25 years = minimum annuity rate of 4%, or 15 years
if you do your own drawdown (annuity) with your retirement capital and elect to avoid the fees, expenses, brokerage and bid offer spreads associated with what goes for investment management in mutual funds and ETF's these days) you can draw down between 6-8% a year of your accumulated retirement capital. Its not income is it? It's you, running down your capital..like taking money from an ATM..
happy hunting...
The average American is destined to become a servant of the state because of a duplicitous Congress that turned over its responsibility to create the nation’s credit to a central bank monopoly. One can only dream of the prosperity an American citizen now would have after the promise and early developments and miraculous technology of the 20th Century.
But, alas, America’s future was stolen by private bankers who formed the Federal Reserve in 1913 to divert the treasure of a great country to their own selfish interests.
“Prior to 1913,” says Sheldon Emry, “America was a prosperous, powerful, and growing nation, at peace with its neighbors and the envy of the world.”’
Now, 100 years later, the choice in America is the same as that in Europe. Either you economize and lower your standard of living to pay back the debts to the international bankers or you surrender your property.
Had the people been vigilant and adhered to their founding Constitution, no private central bank now would exist to rob the people and today America would be “a happier and better world to live in” and the people would be reaping the full benefit of their 20th century progress.
Richard Benson of Specialty Finance Group summed up Americans' apparent “wish to remain slaves of the Bankers and pay the cost of your own slavery” in October of 2012:
“Ah, welcome to 2012 America. The Fed has decreed interest rates at zero for four years, and promised to keep them there for at least another two. The Fed is still printing money out of thin air as well as buying long term treasuries. By locking the yield of the 10-year Treasury at 1.6%, it's well below the rate at which staples like food, energy, utilities, transportation, education, and health care, are rising in cost.
“Today, and as far as the eye can see, real inflation is well above interest rates. Instead of savers being rewarded they are being taxed, mugged, and systematically destroyed by continued low interest rates with no return on capital as the Fed tries to get people to spend and not save to stimulate the economy. Where capitalism in our country as Einstein knew it used to flourish, we're now a land dedicated to eating its seed corn, and encouraging people not to waste their time planting acorns for the future.
“Is it any surprise that pension funds that assume they will earn an 8% return are all headed to insolvency? It is now a simple mathematical fact that with spending encouraged and savings taxed and given a negative return, only the superrich can set aside sufficient resources to take care of themselves as they age. The average American is destined to be a ward of the state.”
http://www.sfgroup.org/articles/Einstein%20General%20Theory%20of%20Investment.htm
JR. that was a winded post. I suppose you proved your point at "Sheldon Emery & Einstein". ;-) Stay Warm.
"Convert to a Roth IRA" - lol!
Damn, Friday nites are a little rowdy around here. Think I'll just keep my mouth shut................