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"Why aren't Americans like you saving more for retirement?"
Source: Cagle via The Burning Platform
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The whole thing is bullshit but who really knows ?
Retirement as in Bladerunner.
uhm, debt serfs don't ever really retire...
Obamacare Death Panels to should put an end to the retirement fantasy.
Going forward in the future, being a doctor is going to have a totally different (read evil) twist to it.
The real issue is
The 1% are bleeding away the 99%, sucking every drop of blood
out of every corpuscle in the body politic.
Until they have consumed all of us,
They will NOT be satisfied.
The Squid-Vampire needs its food.
Even 90% of the 1% are now being bled by the 0.1%
You fucking imoktard idiots. Our grandparents never had expectations of :"retirement" ad were thankful to live passed 60 if that!
Where the fuck did this idea of a "promised life" ever come from considering the realities of life?
Do you really believe life is any different than it was 100 years ago??
So , welcome back to the real world and just pray it doesn't get any more real for you !
Absolute truthiness in that statement. Retirement was a anomolous blip of time brought to us by 100 years of cheap energy and cheap debt.
That day and age are DONE....never to return. The pendulum is swinging.....and it will scythe down Millions of people who are under the delusion of that fantasy still.
Amen..retirement was for a few who got lucky when times were good.
Those days are over..tho it woulda been nice.
Its like old times..work til u die..and quit bitchin.
Jeez.like youre owed somethin..
"About 36% of workers have less than $1,000 in savings and investments that could be used for retirement, and 60% of workers have less than $25,000, according to the non-profit Employee Benefit Research Institute and Greenwald and Associates."
Retirement: A third have less than $1,000 put away
Nanci Hellmich, USA TODAY
So 36% have less than a measly $1,000 saved (which is incredible), 60% have less than $25,000 (6 to 8 months of cost of living) saved, and I'd bet that 85% to 90% have less than $100,000 grand saved.
And this study doesn't take into account what current or possible future liabilities these people have, such as mortgages, auto loans, credit card debt, medical bills, etc.
So, what's even worse is that probably a full 75% or greater of the people claiming above that they have $1,000 to $25,000 saved for retirement have NEGATIVE SAVINGS.
These people will live in perpetual poverty in retirement, scraping by on social security and other government benefits.
This country is fuckin' broke and the Federal Reserve wants MOAR inflation.
Bullshit to all 3 of you. I down arrowed you.
More machines doing more work and more people just pushing paper for money. All bullshit just like your party line. Fuck you. Between ebt and union locks on jobs, I won't even bring up the banks, via the "you need this piece of paper to work/certs/degrees for jobs that almost any monkey could do. This means we are producing more with less, which means there is more. Fuck your globel agenda to say everyone should be in the poor house because (insert stupid fox new momo global warming news BS.) If we were working smarter not stupid poor life would be better. It is the system and it was set this way on purpose to fuck the stupids over.
Quit adding to it.
Used to be that retirement was a family experience - family dislocation is now the target along with extraction of rentier payments from private holdings (taxes and fees) & free trade crap (diminshing returns) etc.
All goes to ensure the diminshment of self-sustainable life styles; one has to constantly find $ for govt fees and adjust to new reg's, rules and restictions.
Previously the risk was all our own, now we risk and pay a multitude of fees and taxes that subtly bleed you dry. However this predictament largely applies to those who tried to self-provide with one eye on the future of their grand kids; in my experience folks who don't even consider the impacts of current changes on their kids are those who are the least geared to fund their own old age when labour becomes impossible (others are pretty independant and see doing nothing as a quick route to death).
These debates highlight the growing group of the "expectors" who yearn for a butt in front of the telly or on a crusie ship with naught to do, but I feel for those who have been successively wiped out by stock market routes and the like.
Its not fun watching an elderly relative suddenly realise the value of their wealth in Zim money. Its kinda hard when you're supposed to fix it for them 'cause now their poor and you're apparently rich! (a bit of sarc from feeling like a wallet at times).
Labor is money everything else is a promise.
I see less and less real work going on.
USD = Zim Dollar... ho hum, then you'll really have a big problem.
This drama is going to hit people from all sides; at first it'll be hardest on those who work hard (less whining from the sheeples).
Build a life/farm.
Give it to your young'ns.
If you raised them right, they would let you stay on -- as long as you didn't drool too much in your old age feebleness, and could still tote a bucket.
Two to five year max.
Go look up what a combine costs, or enough land to make it worth the effort and then talk about farming. The only people leaving farms for their kids have one already that was given by their parents or are already wealthy.
"Go look up what a combine costs, or enough land to make it worth the effort and then talk about farming"
You don't know much about farming, do you? I don't need a combine to harvest grains - there is a group of traveling "threshers" whose sole income is from custom hire machine work. They will be passing through my neck of the woods in the next few weeks to harvest what is left standing of winter wheat and any rye that can be taken. When I grow hay, I don't even need a cutter/conditioner, rake, tedder or baler. The large farmer down the street also does it on halves or per-bale charge. I can save some money by using my two (smaller) tractors cutting the hay with his cutter (he also has a nice haybine too) and pulling a rake after it's been down a few hours.
Farming is only about how much effort you are willing to put into it. My wife's family only had 10 acres in Virginia, but they raised sweet corn and you-pick strawberries. That help pay the bills and fill the freezer. You can easily subsist on 5 to 10 acres if you want to plant vegetables around your fruit trees while they are dormant.
I have raised beds for my vegetable garden, and all of those used 200# protein tubs make excellent tomato and pepper planting pots.
I live in an AG community, so I know a fair bit. Farmers drowning in debt, Amish hijinx - still a decent place. The point is about making a farmstead like of old that can support 3-4 generations of family, not a hobby farm. You won't do that on 10 acres alone I guarentee it. There are HUGE barriers to entry - good land with proper dranage, contigous (or resonably close) acredge, know-how, taxes, regulations and county governmets, dealing with Ag market ups and downs etc. Heck, milk farmers have to work out around here because there are a lot of times where the milk check doesn't cover the loans.
You will not be a farmer (as in sole occupation, not as a hobby) without some SERIOUS capital outlay in addition to the above mentioned tenacity. 1-10 acre Victory gardens? I'm all for that and have one myself, but I'm by no means a farmer that can support multiple generations by any stretch with just the productivity off of my land.
I'm not that knowledgeable about farming, but a wealthy client of mine is a large scale soybean farmer (and grows other high value crops, such as chickpeas and other legumes).
He told me that a Midwest farm on loomy, dark topsoil, of a size that is approximately 600 acres (up to 2200'acres) is the sweet spot, assuming one has labor, equipment and their situation in order, and they ACQUIRED THEIR LAMD 15 YEARS AGO OR MORE.
He retired as an mechanical engineer from an automotive parts OEM, by the way, and now has a net worth of at least 35 million USD just including the value of his farm at a conservative 5,000 per acre, which is growing in value at leaps and bounds (and he has ZERO debt).
Yeah, just roll over and die ya stupid fucks. 'cos there's no way we could do anything about it so it's not worth trying. Why, we shouldn't even believe retirement should be possible becoz it is too hard. Never mind we got machines that let one man do the job of a hundred, we still gotta work our guts out until we die. Well, if that is the case, then you may as well embrace debt and Ponzi finance because you won't have to pay that back when you die and you'll never have to worry about trying to live on a retirement income. Fucking grow a brain and think a bit harder. ( I know that is a big ask ).
The promise was within the family, which has beeen divided and conquered.
Divided and conquered just enough to leave all alone and uneducated to such, in the western world.
Or just plain old rehypothecated Grandma, and her savings.
My folks really want to leave something to us kids - not cause we're lazy or expecting it; we do not! But it gives them a sense of care and makes what savings they made seem like something greater than just money, because they had to earn it 2 or 3 times over (Mugabe lovers of the 1980's be praised- assholes) its a sense of victory and independence for them.
My work is to make sure they can 'leave something behind' - its a victory of they can keep their lifestyle and peace of mind, it also makes me think twice about everything (my decisions are not just about me, myself and I): that is the point of family and that is what the parasitic freaks want to break.
Get back into your annoying, irritating extending family in a big way, its pisses TPTB even more than it pisses us off. Its also a tough nut for outsiders to crack when TSHTF.
"Our grandparents" joined unions and mass movements and FORCED the oligarchic corporate and capital owners to come to the table with a FAIR deal, otherwise known as the NEW DEAL. They didn't just sit around passively consuming cable, internet and McDonalds while being farmed like sheep.
You are absolutely correct but we've been feminized by substances in plastic packaging and bottles. Full of estrogen we lack the will to fight. You would be amazed at how much of this they are pumping into us. Add to that CNS depressants, flouride, and psychotics. Watch endless cop shows: how many times do you have to see a good guy tied up in a chair by a smirking sociopath. You are being programmed to be docile, girlish, weepy, weak, worried, afraid mostly AFRAID.
Clean up, eat only elemental, hopefully home grown, foods. Avoid packaging and all drugs and plastics. Put in reverse osmosis, be sure it removes flouride. Get in shape.
Logged in just to UP arrow you.
Yup, very well said above.....
When is the cutting edge zerohedge going to start talking about the estrogen mimicers?
Like all the fucking soy? Where I live, fields and fields of the shit.
My old lady is loaded with estrogen and she loves to fight.
I had to institute no chains, knucks, or broken bottle rules.
Instead of that tired old socialist big government crap how about simple to understand and universally applied rule of law with consequences for any who break the agreed upon rules? Perhaps you, yourself, make a go of it without having someone else take from yet another in order that you can be given a piece of the pie?
Dream on cupcake.
My grandparents came here as immigrants from northern Europe.
They were hard working sons of bitches who grubbed in the dirt, saving pennies until they could afford their own land.
They farmed, grew their own food and worked in mills to supplement their lifestyles and to afford running water and toilets.
When I visited my grandparents I was not allowed to use the indoor toilet. It was reserved for guests,
By the way, they really did have Sears catalogs in the outhouse (along with other used media -- aka newspapers). Try wiping your ass now on a google or yahoo screen from your iPhone. Progress? Really?
98% of unions are gov "workers" now
I'm a realist.
One day, I'll be dead, for a long time.
I just don't want to rush things.
"One day, I'll be dead, for a long time."
That sounds logical........
I don't know about your grandparents, but even my great grandparents had retirements. They did it the old fashioned way. They saved for it. Some also lived with their children. That was back when children still followed the 10 Commandments, and didn't toss their parents in a Gov. Sponsored Home.
Have seen THAT work out well - not.
Some people make good parents and do a good job raising their children. Their children are more than willing to help out those parents later in life. But way too many families are dysfunctional - with everyone fighting over everything. Karma comes home to roost - have seen it repeatedly.
Then the SHTF and guess how things work out? the opposite of what one thinks.
If what some think is coming your way, Karma will shift pretty quickly and push the unprepared shite family you want naught to do with, onto your door step - that becomes pretty hard to turn away from for us decent folk. The leeching never ends, but heck until you're in the spot you don't realise what you'll do to help them.
Just a tip, but prepare accordingly. Its bizzare watching it unfold.
p.s. some grand parents & family are total asses.... but most cannot compete with the real arse holes wrecking our lives.
Perspective & focus changes quickly with circumstances.
Yes, the average lifespan was about 47 years old 100 years ago.
But I do agree with you that most have this phony idea of a "promised life."
Thus war begins.
Absolutely nothing to worry about, two can live as cheaply as one…….half as long
Tried to warn some kids going on to college in medical fields to check into what's happening.
Wouldn't listen. Too many years in public 'education' to be able to actually think for themselves.
Hard to blame an 18 year old kid - - - - on the other hand, their parents are complete morons.
I'd rather be the doctor's plumber than the doctor.
Medical training may still work out, thgough I'd suggest keeping your options open re what country you train and practice in.
The USA might still be Mecca in terms of medical research, but pay or lifestyle considerations may well be better ifor a practioner in another locale, specifically Down Under.
"Medical training may still work out, thgough I'd suggest keeping your options open"
If things are really going to be as bad as they say it will get (economic collapse), then I would think that a good trauma level first responder would be very popular and useful in "your tribe". Especially one not opposed to working for barter.
Just change their title to "sandman" and implant glowing LEDs on everyone's hands. Red LED = death.
Carousel, à la Logan's Run.
"Obamacare Death Panels to should put an end to the retirement fantasy."
Bill gates was all giddy about death panels years ago.
Notice how many hospital hospice centers are popping up. Maybe they'll have lottos like in the previous wars where they will send the old people to be put to death. The government can grab all the proceeds afterwards to pay the bills to support the people on entitlements.
No....retirement as in Logan's Run
Retirement as in Logan's Run.
7 nails to the forehead retirement
How would people retiring and living on their savings in anyway make us more dependent on our overlords? Have we failed to comprehend the agenda?
how many Americans even have savings?
Savings as in Bernake/yellen ZIRP savings? ( Oh, and save for food, fuel, med care, pharmaceuticals, local state taxes, there's no inflation. Right?)
We, our lives, our days and labor are the crop, and we are to be consumed.
American Dream is a very success full campaign commercial.
... that Americans even pay for viewing.
not me PAL
+1000 NTSC's for you
I think he does not SeeCams ;-)
American Dream is about Freedom, not things
Don't let the theft and perversion of language and history continue
Just like some people take 'working' vacations, the new normal today is to take a 'working' retirement.
OT but these guys really will perpetuate the tax free pension scam due to disability any way possible.
Huh, just looks to me like the NYPD perfecting their new "Stop and Frisk " technique on their buddies..
Good post Fonz, more swinging than Rodney King at a LAPD convention..
OOOOOhhhhh Fuck, Is the NYFD looking for a Crazy Canuck to play some pick-up...
Fuck....I would give my left.....I would would give a pile of USD to play in that game.
Could you imagine ....wow...put a legal beat'n on a COP...NYPD is just a bonus....wow!
I can bring the Hanson Bros...we will fix the corrupt NYPD..
Don't fuck with Canucks on ice!
Is that Bubbles the new blow-up doll?
I heard you could find them under all the desks at the SEC and under the desk of our illustrious Sec. of State.
"and under the desk of our illustrious Sec. of State."
Well, I would have thought that ol' Horse-Face was more into "My Little Pony" dolls.
Retirement, for me is not an option.
I've mostly made my living doing stuff I'd do for free if I could afford it.
Why would I want to stop?
@logicalman...nice. I call it Unwork :-)
"I've mostly made my living doing stuff I'd do for free if I could afford it."
Well, some of us just aren't attractive enough to be a gigolo.
"the new normal today is to take a 'working' retirement."
Knew a few people who retired, my dad was one of them. They retired and in less then 5 years they were all dead. I know three guys who keep on keeping on, going in to the office, even for free or commission only, just keep moving, and all three of them are in their nineties. They need and absorb the human contact and it makes them whole and the personal belief that they are still part of this world keeps them alive. I will never really retire.
The only thing more depressing than that is the guy who gets forced out and commits suicide. The job should not be a man's 'End All'. It's only a means to an end.
daveO you're right, its about staying involved and purposeful - if retiring means spending 20 hours a week in your garden taking it as a serious hobby with thoughts of breeding orchids etc, thats great the mind and body has a drive to get up and do and make each day.
If retirement is simply a way to make Sunday every day then the mind and body wilts. Discipline seems to serves the retirees I know but what they do each day is their pleasure because the moments of effort give them rewards.
I'm lazy to a degree by nature but I'm not a "consumer" I'm a human who has to make a bit of effort to enjoy some fruits and fortunately I have parents who agree that a menas to an end wasn't the sole reason for putting in a bit of labour each day to make a life. Now as the SHTF they're alert, aware and pro-active.
If Catherin Austin-Fitts idea of a slow-burn is correct then even more diligence is required - its easier to amp up to a clear and present danger. Personally I worry most folks even on ZH are not yet ready to encounter the current situation let alone whats coming - there are old folks arm chairs and then there are younger folks laptop chairs, same thing if you are not moving. Putting PMs in a cupboard is only one action, prepping for doomsday mentally corrupts dexerity if not seen as a 1% finale because TPTB always prolong decay, rot and ruin over years.
Yeah, I'll retire when I am dead.
Your retirement could start now. Just think of the bankers, who started their "retirement" recently.
I can retire now and live comfortably for the rest of my life ... just have die sooner than I had planned.
Then why not? Then you can do all your retirement stuff while you are younger!
You can still retire. Here's a small sample of folks who have retired or have announced their retirement:
Brett FavreMichael JordanWayne GretzkyGeorge W BushGarth BrooksRoger ClemensKen Griffey Jr David Letterman
God dammit, an entire generation pumping gas, waiting tables...slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We got no Great War, no Great Depression. Our Great War is a spiritual war. Our Great Depression is our lives. We've all been raised on television to believe that one day we will be millionaires, movie gods, and rock stars. But we won't. We're slowly learning that fact and we are very, very pissed off. - Tyler Durden
Speak for yourself.
That cartoon said it all, and it's getting worse.
The unfunded one.
Please wake me when the revolution finally begins.
After the American Idol season?
The New American Revolution will be brought to you as a Reality TV show on CBS.
With ads for viagra and Monsanto GMO.
Although, its quite possible we already have a TV show which resembles retirement in future America, its called The Walking Dead on AMC.
Future? Fuck, I see the walking dead every time I go into town.
No because then National Felons League Football will begin.
Long line bro. 340 million needs to wake up before you.
I'd be happy with 15-20%. Right now I fear it's only 1-2%. Not enough to push the paradigm change.
ALL SYMPTOMS, NO CAUSE.
SUMMED UP: WHAT ABOUT ALL THE FUCKING MONEY PRINTING???
They stole over 97% of the purchasing power of the dollar ( in which people were paid wages & earnings & saved) over the last century. They take over half of this paltry sum in taxes & 'fees'. This long term inflationary destruction forced families to require two wage earners in the home & would later lead to off shoring good jobs to slave labor nations overseas.
Now they are further stealing through O 'health care' and they have their sights on retirement funds and pensions. (In the meantime, they are stealing the savings of older people through QE zero interest rates designed to only benefit banks.)
The predatory money system is at the heart of this nightmare and it inevitably leads to ruin. They are instituting a police state at home and wars overseas so that the oligarchs may continue to live off the people as parasites. Their 'education' and media systems have dumbed down enough of the population to go along with (and actually cheer) their own enslavement.
"To not know, is bad enough. To not know, that you don't know . . is tragic."
And, even more is still to come.
Once they ram the Trans-Pacific Partnership treat through the Senate the American people can watch as even more jobs are offshored to the Asian Pacific Rim.
Well said, HA. It doesn't get more concise than that.
The seeds of retirement destruction are already sown: taxes are rising. So everyone who put money into "tax deferred" plans like 401k, IRAs, annuities will be in for a big surprise.
And biflation is taking care of the rest: rising costs, falling incomes (in real terms). Wealth effect of rising stocks and ResRE is just a mirage: too many fees, taxes, slippage
Some people will leave or have left.
Let them do so in peace, it not in their power to change this destruction. More will leave.
SHANGHAI (Reuters) - Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time.
what's a "deadbeat shipyard"?
I thinks that called "stranded capital" actually. I mean you didn't actually expect a product with all that money? Besides...the taxpayer has it covered.
Tax payer lost his shorts there Einstien, and is now about to lose his shirt, and that was after he lost his hair.
that guy is too skinny.
he's too happy.
sunday night funny
"Forbes also highlighted Goldman Sachs CEO Lloyd Blankfein with a special three-page spread, arguing that the 59-year-old capitalist is practically begging to be held down on the ground and have his face rubbed in a pile of dog shit while he frantically flails his arms and screams.
“We’ve been seeing a continuing trend over the last decade of younger and younger CEOs whom you’d love to just pin down with a knee to the chest, grab by the wrists, and force to hit themselves in their own face,” said Lane, noting that 29-year-old Facebook CEO Mark Zuckerberg jumped seven spots from last year’s list after Forbes editors imagined tying his hands behind his back, holding him up by that dumb fucking sweatshirt he always wears, and mercilessly pummeling him for 20 minutes straight."
What disappoints me most is that this is a fictional article on The Onion. Seems to be entierly plausibile if we just poll ZHeaders constituant base.
But it's all our fault. Anybody who isn't grateful for the chance to work harder for less money than they did 20 years ago is nothing but a mooching parasitic loser.
It says so in every single ZH comment thread. And so does Mitt Romney.
Am I right in thinking there's a real frog in here?
More like a toad sitting on a poisonous mushroom.
Saving what, clownbux? bwa ah ah ah!
Some of us acually are saving for retirement, just not the way you want us to.
Sorry bout that, you didn't get the memo? ;-)
I was doing so well too...until the boating accident.
Never have the rivers and other waterways been so filled with metals so precious.... and so few beacons such as mastheads or keels are seen.
Kinda like MH370 blackbox pings
Must be a big ocean.
So sorry for your loss. They can use the latest drone technology to blow out the candles of a cake at a Yemeni wedding party but I am afraid that the whole malay, ussofa, Chinese and Australian maritime vessels are not so well equipped at locating most other items. DON'T GIVE UP HOPE THOUGH. Our thoughts are with you and your family.
The politicians have millions and some of them just can't fathom what's wrong with these people. Completely out of touch and on another planet.
Not only the politicians....there is a writer on SA who claims that we are on the road to recovery and that Americans have 'hoards' of savings that they are just waiting to spend on pent up demand...in fact savings have never been higher.........maybe for the 1% and the ivory tower/gov. employees......the depth of such delusion is unfathomable......
Why aren't Americans saving?
Because the real interest return is negative 4%,
because Yellen the Felon.
Cartoon is factually wrong -
Rising food and energy prices having noting to do with inflation...
Because we say so.
Your Friendly Treasury Department.
Something I've been wondering about: Does the Fed increase the money supply and prices rise to fill the gap, or is it the other way around? Do (gasp) corporations raise prices for no reason at all, and the Fed accomodate them by printing enough money to paper over the deed?
Savings interest earned 0.05%, or you can play in the Wall Street Casino, if you have anything to save.
That cartoon pretty much spells it out.
spells what out exactly?
Math was the great equilizer, miracle man.
Retirement is something that was foisted on Americans as a way of life. I never plan on retiring, just managing kingdom of two until I drop over with my boots on.
I would shoot myself if I had to go golfing with the old farts with "I'm spending my chidrens inheritance" bumper sticker on their Oldsmobile. Little do they know but they are spending my childrens inheritance too.
Stave now vs starve later
Now you understand Mr. Yellen's dilemma.
The price of an 8 ball has remained relatively fixed for years
Which can only mean the rent is "too damn high."
Remember to thank your faithful public servants at the CIA. They estabished secure suppliers and transport systems for cocaine during the Iran-CONTRA years and now, with the US in Afghanistan for the last decade, have secured reliable supplies of heroin.
Odd how you didn't see any headlines about a 'heroin epidemic' when the Taliban were running things there. But after a dozen years of the US in Afghanistan.......
By the time I'm ready to retire, Federal Reserve Notes will have returned to their intrinsic value. So I'm not really saving them for retirement.
how about the ten trillion in non-monetizable debt backed by said "worthless scrip"?
Ignorance is bliss.
He said saving for retirement...hehehehehehehe...an actuarial windfall for .gov, a six-foot hole for you...and after all that saving you done for them...hehehehehehe...
Missing higer taxes on the middle class!
They forgot about the cost of the divorce!
See the third chart here
Long time under saving & over borrowing!
How come 'they' nearly never show you this?
The Public Be Suckered
B.. b.. but I do sire: phys silver under my mattress and bitcoin on my bip-38 encrypted paper walet.
The way I see it, I have less debt than the statists,
Who saves their unemployment checks?
Because Liz Cheney is a cunt. big time, and she hogs the economy?
Or people are very confused about what success is? Tune in, Turn on, Drop out. As much as possible anyway.
Ah, some still remember Marshall McClunan. Milestones
The media is the bandage,
I guess you mean Marshall McLuhan....but close enough for an up arrow!
You actually mean Ken Kesey...
:-) You should know eh, Clowns on Acid? Wavy Gravy is your friendddd.....runnnn....
Wait, but the FED says their is no inflation ... because the iPhone 5 does so much more than the 4
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