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The New Retirement Normal: The Average American Must Work For Two Extra Years After Death
While Italy is bickering over just how inhumane it is to raise the retirement age by 2 years in a 15 year span (which works out to a whopping 48 days per year) and will likely lead to mass riots and bloodshed in Rome before the idea is ultimately scrapped, things in America's own back yard, the country that now that the EFSF is finished will have no choice but to come to Europe's rescue via the IMF, are looking horrendous to quite horrendous. In fact when it comes to retirement, 80 is, we are sad to say, the new 65, at least according to Wells Fargo. And with average life expectancy in the US peaking at 78.1, it means that the typical American will have to work for an additional 2 years after death to pay for not only not having any retirement savings (thank you Bernanke ZIRP and VIX>30 stock market), but to make sure Europeans have theirs. You think we jest? Nope.
“Eighty is the new 65,” Joseph Ready, executive vice president of Wells Fargo Institutional Retirement & Trust, said in an interview at Bloomberg headquarters in New York before the survey was released today. “It’s a real sea change.”
About 76 percent of respondents said it’s more important to reach a specific dollar amount before retiring, compared with 20 percent who said it’s more important to retire at a given age, regardless of savings, according to the survey of adults with household incomes or assets from about $25,000 to $100,000.
About 74 percent expect to work in retirement, according to the survey, with about 39 percent working because they’ll need to and 35 percent because they want to. And 25 percent of those surveyed said they expect they’ll need to work until at least age 80 because they don’t have sufficient savings.
“People are starting to move toward understanding the different levers of what they’re going to have to do to make it in retirement,” Ready said.
About 68 percent of those surveyed said they’re not confident the stock market is a good place to invest their retirement savings. About 45 percent of respondents said if they were given $5,000 they would buy a certificate of deposit, and 50 percent said they’d invest it in stocks or mutual funds.
It's still not too late to jump on the board the Ponzient Express:
“Even though there’s a lack of confidence, I don’t know that they see there’s a good alternative,” to investing in stocks, said Laurie Nordquist, executive vice president of Wells Fargo Institutional Retirement & Trust.
Obviously prepare to work for at least 20 or so years after death if one wishes to go long Netflix and short GMCR.
As for the math: oops.
Survey respondents had saved a median of $25,000 towards retirement and estimated they’d need a median of $350,000 to support themselves in retirement. About 42 percent expect to receive a pension or already receive one.
“The numbers don’t add up,” Nordquist said. “The gap is probably larger than what they self identified.”
Those surveyed expect to withdraw about 18 percent on average from their savings each year in retirement.
“We would recommend typically 4 percent or less, in terms of withdrawals,” Nordquist said.
About 57 percent of respondents said they’re confident they’ll have saved enough for retirement.
“You used to just save blindly, but I think the blinders are coming off,” Ready said.
And the key one blinder being that if America agrees to fund the IMF's bailout of Europe, which make no mistake is coming any day now, not only will future generations of Americans be China's debt slaves in perpetuity or at least until China makes the fatal mistake it can do whatever insanity it wishes just because its currency has "reserve" status and MMT said so, but the existing one will have to find a way to work efficiently in a rather zombified condition, or else get bitten by Robert Pattinson and live forever, if with a slight bias toward SPF 100,000,000 tanning lotion.
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Tyler ?
PS... Don't Sweat It Too Much, We will have a NEW FIATS in about 2 yrs.
What’s all the uproar?
It seems that most of Americans never bothered themselves to learn living within their means, save some money, plan for the future, get a decent education and avoid credit at all.
The blame must be placed specifically on the so-called Baby Boomers, a failed generation who really enjoyed the prosperity of the 50s and 60s; instead, they focused all of their deprived intellect in experimenting with all types of drugs and having very promiscuous sexual lives. These people have done nothing for this country and now they are so scared of potentially not being able to collect their government entitlements (paradoxically, they are the majority).
Therefore, America as a broken society is now paying the consequences of its own greed, lack of common sense and stupidity.
Someone said that Americans are just a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so the ignorant populace will finally learn NOT to live beyond their means – and stop blaming the government, since they don’t give a crap about people’s grievances.
I think its only a few Bad APPLES that caused 99% of this Crisis Shit Goin Down ...
I've never had a pension, always managed to avoid it and so I find myself with money in gold, no employers contributions and no restrictions on when I can access my money.
Nothing in life is free, that I have always known, so when anyone tells me my employer will pay -for free- I just head for the door, and more so if the catch is not immediately apparent. It has become clear for more than a decade now how this ends. I keep my gold and everyone else loses their pension. So who got what for free?
Bad Apples, eh?
So if we just get 'the right people' in there, things will get better, right?
Buy this book ($12 from mises.org): Economics in One Lesson, by Hazlitt. It was written in the 1940s, when people said the same thing (debunked by Hazlitt). When did we ever get the right people in political and bureaucratic offices?
The problem is the incentives in the system. Politicians bankrupt countries because that is how you get elected. Try running for anything on a fiscal responsibility platform, promising handouts to nobody; you'll find it a short and unpleasant experience.
The root problem is credit-based money and all that it implies; all else follows from that. One thing it implies is interest (usury), the evils of which were understood by ancient Hebrews (jubilees), early Christians, ancient Greeks (see Aristotle's Politics), continuing today with Moslems.
Debt with interest is a one-way ratchet -- it has to end the way that it's ending now. The only question will be how much damage is done before the inevitable is accepted.
"Someone said that Americans..."
You say it by cutting/pasting into every one of your lame-ass posts, jackass. You can throw stones all you want, but sooner or later you're going to break a pane in your own glass house. This is not a country-specific problem. The enture world is overleveraged. Your use of infantile rhetoric to separate yourself for the global malaise once again illustrates your ignorance.
Again, please go away. You offer no insight or usefulness to these threads. As far as I'm concerned, you're on mute from now on...
Bingo.
his entire post has been copied and pasted in numerous threads... troll alert.
Yup, just press the mute button and junk him everytime...
Afterlife credit slaves you zombie bitchez!
"troll alert."
http://trololololololololololo.com/
...
This is everyone's problem. If we could lock up the Leader's I am sure that people who are reasonable, and does not need to be better or less than another person, we could do it. If you want to be self sufficient on all counts in the current system you need invisibility and payoff money. Our people need protection from governments, empowerment and the right to self govern, pre-approve liabilities. Without government or other parasite intervention it is simple to set up a group and make them self sufficient. I envision a lot of smaller communities worldwide so that everyone can be involved, care and create communities around the needs of that community.
Big government is always a problem, even for dictators, remember the Rome's year of the four emperors. Taking those positions in Greece and Italy seams like an inevitable death sentence. It's always been difficult for me to understand why anybody would blindly trust any government.
Also. The current Head of the IRS is a felon according to the tax code. And Al Capone in his later years was actually a teatotaler.
You can not possibly make this stuff up.
I like where you're going with this.
>This is not a country-specific problem. The enture world is overleveraged.
So you agree that what he said about Americans is true?
Dr. Acula, I not sure if that question was for me. However, I love the idea of America. My father was certain that I would be able to be self sustainable, be able to learn on my own, protect myself. Like the rugged individualist able to go out and create everything I need from scratch if necessary.
I think that most American's and people around the world have been deceived and betrayed. Most Americans like the hollywood lifestyle that is on television, it is fleeting. I have had to sacrifice and mold my body and mind with my will or my fathers guiding fist. The US has been vetting out people of old American values since I was born and now has put them on the domestic terrorist list. The hardest part about this life is fighting for the right over and over again. In my opinion, this heritage is the right of every American and should be for all people.
What makes you think that America is in any way special in this regard?
Who knows. America is my birthplace, but I can't cook and eat breakfast without risking fines and possible imprisonment from FDA their buddy agencies. Being on this board might be argued felonious under the new laws. US citizens are required to file with the IRS every year, if you do not live in the US this still applies. In order to cut the cord you have to petition a Federal Judge, if you get released (buy your freedom) you have to pay fines, paid all debts in full and prepay taxes for . The process takes 1 - 2 years + and has been known to be a multi million dollar endeavor.
'America is my birthplace, but I can't cook and eat breakfast without risking fines and possible imprisonment from FDA their buddy agencies. '- That's about right, but it isn't an American phenomenon either, there are many places now where you don't even need leave your home to get fined...
There is often - I dare say even usually, real, intelligent discourse on this list (unlike other financial 'news' sites that will remain nameless), but alas, the Lord Wanker lives up to his name most (every) time and adds not a whit - tired old re-cycled ideas that don't particularly connect to what we are talking about.
One question I will throw out there, because I don't like the 'give-it-ups' , is whether there is any possibility of finding someone left in Congress willing to haul Uncle Ben up and suggest (cough) to him that the taxpayers are not keen on bailing out Europe. If enough light can get shone on this dark Fed game, the fed-up taxpayers just might start hanging ropes on the Wall Street lightposts...and adding weights to keep the ropes from flopping around...
Yup.. super easy to subdue. So much so that we tread wherever we choose..
Its Not like we don't have tons of bases, boots on the ground, flag on the moon, probes on Mars, or satellites outside the solar system..
You're just fucking stupid.. every time you post..
Agreed. I might be pissed about shit in my country right now, but I'd rather be here than anywhere else. This is where I was born. This is where I was raised. This is where my family has been for generations.
I'm not going anywhere and this is equally as much MY country as it is that fuck face's and THAT pisses me off.
You need to get out more. It will give you a different perspective on the world...
Ah okay.
Guy on internet website comments on my internet website comment:
Now I get it.
Fuck off.
I'm pretty sure he wrote that while sitting in his room (in his Mom's basement) eating Cheeto's, wearing only his tighty whiteys and his favorite Yngvie Malmstein concert tee shirt.
So you're pretty sure eh? - Er no, it was written from an office in a house where I have lived for more than ten years which is half way round the world from where I was born.
and he/she and you really should get out more, you will understand why tossers like this have a very insular and over rated opinion of themselves...and being 'pretty sure' without any knowledge whatsoever just makes your opinion utter fucking drivel.
Get a life, I thoroughly recommend it.
Wow! A real office? With a desk and bookcases and shit? That sounds ultra-badass.
Hey tekhneek, let me say the same thing in a completely different way: I agree with you 100% that this is my country, and I ain't going anywhere. I did 6 years and change in the Infantry once, left honorably, and have lived (off the grid) in the country for 40 years now. When I get really pissed about this stuff - too much time watching the trading screen and reading ZH on the other monitor, I take a reasonably short drive to my local airport and fire up my Piper Cub - it's an antique, like me.- and go fly low and slow over the hills and Pacific Coast of northern California. It does sooth the mind - and provides a different perspective and a reminder of just how beautiful this country can be.
This does not change the fact that Corazine is a rotten fuck that should be in jail, or any of the rest of the crud going down at the moment; but it does allow one to breath and enjoy life.
Maybe that's what Harlyquin (sp?) meant....
Well nobody, I thank you for a great attempt at diplomacy but I am referring to the simple fact that most Americans never leave the State they were born in, and when you do, and especially if you travel abroad for any length of time then you will very quickly realise that the crud you are spoon-fed from birth by your patriotic media is in many ways bullshit.
And none more so than that most frequently espoused on these pages that Americans have some special or god given right or entitlement to freedom or that by some strange miracle the politicians that wrote your Constitution were in any way more virtuous than the snakes and vipers that you have currently in power. They were not.
Your Constitution was written by slavers and smugglers in an attempt to protect themselves from a British noose. It has nothing whatsoever to do with freedom as you are now discovering to your cost. That's why it is so easy for these people in the same positions of power to steal from you. Any suggestion that you have any particular rights to freedom just demonstrates a naivety seen rarely outside the US. If people like this 'got out more' they would see this...
But jolly nice try all the same...
Who cares what Harlequin meant. Everybody's a loser on the internet to a person like that.
Thank you for your service NFP. I'm jealous of the plane! I'm taking the classes but I'm not quite there yet.
It does help to get out and turn off the computer for awhile. Go out in the garden, take a week off, whatever and I do frequently. I was non-existent on ZH for about a week or two earlier this month. Just had it with the news and the market. Cashed out and felt better.
Still got my FAZ though :)
hey tekhneek,
It still doesn't change the fact that you need to get out more...
I've been a technology consultant for a decade and some change... it allows me to travel and travel frequently for extended periods of time...
I've been to Bulgaria, Russia, the Czech Republic, Bolivia, Colombia, Mexico, Argentina, Canada, Alaska, Michigan, Texas, Carolinas, California and the list fuckign goes on. Not all of those are work related obviously, but the $ ain't bad so whatever.
Again, I was just expressing how much; even though I've traveled the world, I still love to be in MY country.
As I said already: Get bent. I didn't ask for your unwarranted opinion of my personal life as I'm just sooo jealous of yours. With all due respect man: fuck off.
Obviously you wouldn't have written this looong list of countries unless you were trying to impress me so I will reply. It doesn't.
Far too many places in far too short a time and the fact that the list just 'fuckin' goes on' means that you're a bit part business traveller with a heavy schedule. A 'round robin' trip to a load of different countries means that you see airports and hotels, maybe a few girly bars and restaurants and little else. It's good that you've travelled the world and that you still love to be in YOUR country but personally I fail to see why you keep fucking whining about it and especially on these pages if you don't want anyone to comment on it. If you don't want an unwarranrted opinion then don't post; easy.
Like I said, you need to get out more and when you do you might just look at what you're complaining about in a different light, but well done for travelling so far and so fast, if nothing else it wins you a middle finger and if that isn't enough you can have an index as well, if only for knowing what parts of my life you're so jealous about; Tosser.
You don't really believe you've got a flag on the moon do you?
Transformers 2 was probably more factually accurate than that old chestnut...
god i wish i was a baby boomer, it sounds like i really missed out
poof...you are now in Viet Nam
You will call it by its proper name. "french indo china", you stupid tax paying american.
TIIIIIIIIIMJMMMMMMMMMMMAAAAAAAAY! (proper respect to rainman)
I despise people who junk on this board who do not comment with the rationale. Also, when mr. timmay went to europe this summer, they made him call vietnam by its proper name "French Indo China" and they also told him he is a lousy central banker because he broke the one rule of central fractional reserve banking ......
Although my birth date also categorizes me as a baby boomer I agree with what you say. The post WW2 generation had it too easy and has become the 'entitlement generation'. It reminds me of the saying: "Blessed are the young, for they shall inherit the debt. It is understandable that the younger generation is protesting in the streets.
I want to punch my dad and father-in-law every time they say "just need to work 2 more years"...like they are owed something. Their houses and cars are paid off, six figue salaries and they STILL WANT MORE?!?! WTF? The social safety net is too big.
looks like someone overdosed on bitter pills today.
Dude you must not have gotten that memo. Food stamps and unemployment benefits for everyone. Courtesy of China. Early retirement for all!
If you actually count up the Xrs and Millenials, they outnumber the Boomers in the US by 96 million.
Put up or shut up, dudes. Get your act together and quit the bitching.
Weren't Xrs called slackers? Maybe they are the problem with getting a movement going.
Never heard of such a generation of whiners.
I'm part of Gen Y.
as in Y don't boomers go and shove their entitlements up their asses. I'm not going to pay debts that they racked up when they had the run of the place. The boomers encouraged such a reckless economy with their lifestyles lived off of illusory credit and living off of the backs of the lower classes and third world.
Now the ride's coming to an end, and they expect the rest of us to just say, "Aw, shucks! I guess we gotta 'cuz we hafto!" And carry them along in their retirement?
As far as I'm concerned, let it all fall to pieces.
Divide and conquer.
generational division
racial division
class division
ad nauseum
There are a small group of people perpetuating this crime against society and we bicker and argue over 'oo killed 'oo.
We know who fucked all this up and it is time they face the consequences of their actions.
bravo.
There are a small group of people perpetuating this crime against society and we bicker and argue over 'oo killed 'oo.
Er no, you're actually arguing over who's paying for who...
Incubus, you have no idea what "generation" I belong to, but I feel compelled to suggest a few words of (sincerely) friendly advice.
If you could fast-forward a decade or two or three...
You'll most likely understand that you and your peers are no different than 90% of your audience here, and age means nothing.
Human Nature has not changed, will not change, and the personality is generally set in stone by age six +/-.
Rather than shout at and implicate those who were born between XXXX and YYYY, concentrate on the Outliers -- they haven't changed either.
It's normal (for all of us) to want to clamp down on a convenient explanation, a neatly packaged enemy -- but that's more convenience than truth.
Exactly. Fuck those guys. I don't buy stupid bullshit and I haven't used the things I own as an Apple Subsidy Fund. I have made the right decisions and I'll be goddamned if I pay for a bunch of coddled, self-important pussies to enjoy the twilight of their vacation-lives. I drive a VW, not a Benz, because that's what I can fucking afford. Boomers all thought they had (have) the god-given right to live like gods. Well, okay, it's not my place to tell you what you can buy, but don't expect me to feel sorry for you when you lose your 750k house at age 70. Your fault, bros. Your fucking fault. Like so many boomers have said their whole lives, it's not my responsibility.
So sad that so much truth is so mixed up with so much stupidity. Mr. Wanker - you just lumped yourself in with the same ignorant masses. Congrats. It takes something special to pull that off!
Is a wanklord like lord of the wankers?
no
I say, Good Show, Ol'Boy, posting so much agitprop while at the same time just wanking away under such lordosis as has you grovelling on-all-fours as bottomboy to, who knows, but, a hush-hush sort of business, as long as you do
Today, HR people have to deal with pregnancies, illnesses, family leave, and sexual harassment. In ten years they'll have to deal with coronaries, senility, incontinence, extreme senescence, deafness, and nap times.
(Sounds like pre-school)
Hope & Change. We have a bunch of morons who watch TV and are manipulated sheep. TV is for morons who enable the facist leadership. Oh and by the way - F Baby Boomers - particularly the ones who voted for the Muslim.
Not to be bragging on the boomers, but it was the youths and the hyphenated-voters who elected Barack Obama.
Young voters preferred Obama over John McCain by 68 percent to 30 percent — the highest share of the youth vote obtained by any candidate since exit polls began reporting results by age in 1976, according to CIRCLE, a non-partisan organization that promotes research on the political engagement of Americans between ages 15 and 25.
Who cares who they voted for. You think the results would be different with McCain? They would be EXACTLY the same. Voting is IRRELEVANT in this bought and paid for 1 party system.
divide et regere . . .
don't go for the bait, now here smeared everywhere, and, in unknown numbers, still #1 and #2, cooly calculating just who's pissedoff enough to shiton who, and then viewing all the many peons,pistons&pissants going at it while behind-the-scene, obscene, laughing
all feces theses, filthy, like running-for-government, their very own cesspool, so thoroughly polluted and disgusting that finally no even fairly-decent individual would ever think of doing it
. . . never wrestle with a pig
My response to Wanklord - Shut the Fuck UP!
A few years ago you were complaining the boomers were working too hard, holding onto all the good jobs too long, not retiring and letting your generation have a chance.
Now it is time to throw Granny under the bus. Take away her savings, her pension, everything she saved and worked for and give it to Goldman Sachs.
Piss off you little twerp. Old people are a lot smarter, and a lot meaner than you imagine. They all vote and they all vote together.
In other words, once again you are toast for reasons your tiny brain can't even imagine.
Good points. On the other hand, my penis still works without any pharmaceutical enhancements, and you'll almost certainly die before me. Suck on that, you narcissistic pampered fucking geezer bitches.
Boomers have been gaming the system for decades. This shit should be declared unconstitutional. In India they have a constitutional "intergenerational equity" clause which basically means one generation cannot run up the debt and dump it on the following generations. That's what we need. Boomers created this mess, Boomers better clean it up. (and we're now in the 4th quarter so hurry the f--k up!)
Look on the bright side. 90% of the baby boomers will be dead in 20 years.
And completey deranged, web surfing idiots believing in everything that crosses their corneas, will comprise 100% of those who will take our place.
Good luck with that ;-)
Personally I take exception to one part of this post--I killed it shorting gmcr....
Speaking of sweating, does anyone know where Corzine is? Anyone know his address? We should pass it along to all the "occupy" protesters around the country who get turfed from their turf and need a place to crash. I'm sure he's got some nice digs in the Caribbean somewhere, and for sure Hawaii......
bunker in patagonia.
WH guest wing ?
Treasury Secretary prep school.
Nevis. Next door to that guy that absconded in the 80s.
...here let me help...Bernie Cornfeld (sp?)....
+ Jacob Alexander inter alia
. . . who, 2006, was charged in the US with multiple counts of conspiracy, fraud, money laundering and making false filings, though easily fleeing the country to Namibia where he has long since been fighting. . . butterflies. unicorns. Rainbows, for his own pottagold and/or 72 virgins
And don't forget Medicare financial problems. You will have to survive to 80 without much of medicine.
I'll pay my tax bill with Devil Dollars
Americans would be healthier if they actually decided to take care of themselves and ate right. Easier said than done though.
libertarian86.blogspot.com
Healthy eating will kill fitness industry (I think it should die, of course), creating more unemployment.
If you knew what you were talking about it might be cool but you obviously don't...
I've been in the fitness industry for 30 years now... Wanna know something"? Statistics have NEVER changed in 30 years...
Bottom line?
- About a third of the people don't give a rats ass about health or fitness and wouldn't lift a finger if you put a gun to their head
- About a third are dutiful enough that it's become a part of their life
- About a third meander in back and forth
It never changes & has more to do with the psychology of humans & has nothing to do with healthy eating (as there is really no such thing as healthy eating anyway with most foods processed [unless you can give me an accurate breakdown of the chemical analysis of the fruit granola bar you're eating or the salad bar you just bellied up to thinking you were eating healthy])...
Frankly... the real pros in the business stopped a long time ago trying to reach out to the people who they know, historically, would not ever listen (a phenomenon not unlike the people who have their faith in Republicans, Democrats, & Central Bankers that everyone on this blog rightfully complains about)... The metaphorical "goldbugs" in this scenario (people who try to attend to their healt & physical fitness needs), NEED NO HELP... They're self motivated...
The Battleground is for the rest...
I hope that lays that argument to rest... (because it's a statistic that has existed for 30 years, or as long as I've been in the industry)...
Food is food, Mochelle lover.
Eat your own peas.
If you want to choose healthy lifestyle you don't need any "fitness industry". Just pair of good shoes and some weights is enough to keep you fit. As far as eating healthy - I don't consider granola bars healthy - I choose to eat food that has under 5 ingredients (ideally one), fruit and vegetables. I find it hard to understand that people think it's harder than stuffing yourself with junk food. It's not a rocket science.
The Fitness Industry can roll over and die. It is an artificial environment that is created for people with too much time and money (easy debt money) on their hands.
People have lost contact with their food supply. Sedentary desk jobs and an abundance of processed, nutritionally poor food, have led to an unfit and unhealthy generation of people.
The more enlightened amongst these people realise that this situation is not sustainable for their health and longevity so they join a gym (Only about 16% of the population belongs to a gym) and they make healthier choices from the abundance of crap choices that inundate them each day.
In a future situation where people are no longer sitting on the asses doing jobs in the equity, real estate or banking industry we will see a shift. As supply chains start to breakdown people will be forced to start providing some of the essentials of life for themselves.
Providing the basics of heating, food, water and shelter is actually hard work, no need to blast the guns in the gym after that sort of work. As people eat more food that is grown and produced both locally and by themselves they will move away from the processed crap that has made the nation a population of sick prescription drug takers.
Also food will be scarce so over indulging won't be an issue. These conditions will lead to a fitter and healthier person physiologically and will also kill off the fitness industry. Food shortages and rationing in WWII in the UK actually lead to the decade where general population health was at its peak.
What of the burgeoning evolutionary branch of homojunkfoodian-morlocks? We interbreed with them?
I srsly think we'd have some kind of evolutionary divergence over thousands of years of post-industrial civilization--if we monitored for it. No way the human species can be evolutionarily as one group when a majority of the [post]industrial world consumes garbage food and tend to their bloated waistlines.
Most people act like it's some kind of magic formula to being "healthy." They think they're "sick" because they have to be sick. Most of the health problems of the [post]industrial world resides in dietary habits. We didn't survive for millions of years by eating high fructose corn syrup and modified e.coli sweetener and the tons of other shit in processed foods of modern society.
But I'd imagine telling a person to change their eating habits is akin to telling someone to quit smoking--they know what they're doing, but they'll do it anyway. (credit to the guy below me who said it first)
I'm sure if they can procreate with enough capacity, these junk food eaters may become progressively--over generations--more capable of handling their diets. But really, if you look at it, how long have we been removed from an unprocessed food lifestyle? Not even a century, at that. We're just not biologically equipped to eat this kind of shit we're shoving down our throats.
A voice of reason - thank you
Fitness industry? Thats nothing!
What about the healthcare industry that sucks down 17% of US GDP every year? If everybody lost 10 pounds none of the healthcare CEOs would get new yachts next year!
That's probably somewhat true, but obviously somewhat unquantifiable (unless put to the test - which it would never be)...
Let's put it another way... People have known the cancer risk of cigarettes for years now... What of it?
Drugs?
A fitness lifestyle ain't like getting yourself into the habit of showering once a day or shitting in a toilet people... Get that through your heads and you'll start learning more about human nature than you probably care to know...
"People have known the cancer risk of cigarettes for years now... What of it?"
Are you fucking joking? I see people smoking so rarely nowadays that I, well, see'em. Try watching any movie from the 40's...EVERYONE fucking smokes.
been to Vegas lately ?? It's full of non-smokers. Teetotalers too.
After Jim Fix died while running, I rethought this whole physical fitness deal....
Same thing for Grace Kelly's brother in Philly in the 60's. Super dude was only in his early 40s, as I recall. I only remember it because my Philly grandfather was snickering about it as he indulged in a tall one of Ballantine beer, a Phillies cigar, a shot of Schenley's and a dip of Beech Nut simultaneously. Old son of a gun died in his sleep in his 80s. Helluva guy !
Jim Fixx had genetic issues and had been a heavy smoker. Physical fitness has a lot of positive attributes like not letting your muscles turn to shit and also as a way to reduce stress. I am not advocating being a gym rat but there is nothing wrong with physical fitness.
Sure beats being brainwashed in front of a TV or gambling in Vegas with other "degenerate gamblers."
Mick Jagger has it made, baby!
And Keith Richards, holy shiite!
Oh, Amerikans have to work after death. Darn.
Hmm...I thought u were an American troll.
Am. It's just that those 2 died 40 yrs ago, but still give concerts.
And nobody noticed.
Gary Busey also has it made. He's just an enraged zombie at this point.
Only in your dreams will you live as much as those 2 have.....and don't forget, Jagger had a few years at the London School Of Economics before leaving to do sex, drugs and Rock & Roll full time.
Theres a lot to be said for a proper state of mind and your bodys physical health.
I'm goin the Keith Richards route too...he's like a swami or sumpin ;-)
The Rolling Stones have not done anything new since Keith and Mick had their builder drown band founder Brian Jones.
On a positive note - Black Sabbath are reuniting for an album and a tour.
Oh Freddie, Freddie, Freddie. You are such a comedian.
I guess you don't care for the SOME GIRLS album. If you don't usnderstand the importance of that work, don't bother talking Rock w/me. It might jus Start Me Up.
Black Sabbath...what a library of seminal work they will leave for us. I do hope you enjoy their tour, though. Tell Ozzie I said high.
Oh, and I want to see employer who will employ 80 year old firefighter or construction worker.
Or police/other physical worker.
As long as they're black or female, they're in like Flint.
If only I'd been born an African-American lesbian Jew with Tourette's and low-grade narcopepsy, man, I'd have it made.
I suspect you are, and are just market making.
....so you are inferring that I am malingering????
If only I'd been born an African-American lesbian Jew with Tourette's and low-grade narcopepsy, man, I'd have it made.
What would change, though? You'd still piss and moan all the time about how good those other folks have it.
Raising the retirement age busts the budget. Here's why. Workers experiencing health problems, or getting injured, and going on workers copmp, medical leave, extended health benefits due to mishaps etc. increases dramatically after age 65. A "worker" collects more on medical compensation than that same person retired. It's simple, more you save in Social Security the more you lose in other compensations.
Why are we bothering talking about the retirement age in some mistical far off time, this shits getting real now, in 2 years about 80% of the population will be dead anyway .
The commute from hell will be hellish
boom boom
It can't be any worse than San Diego to LA!
Yes, it's much better. Less Spanglish speakers.
Fewer. Or is your grammar is good as the smartest president ever?
I'm sure vampire boy has enough Transylvanian consols to see him through eternity
My son Robot has a huge crush on Robert Pattinson.
Survey respondents had saved a median of $25,000 towards retirement and estimated they’d need a median of $350,000 to support themselves in retirement.
When was this survey taken? In 1952?
Average life expectancy after retirement is about 5 years. The sell side automatic withdraw retirement savings plan pitchmen get you dreaming of champagne breakfast in the Caymens so you keep the dumb money flowing into the rigged frontrun market. Of course, this is so the people in the know can get out of Dodge before the coming $h!tstorm.
If I would've known I'd be working in the afterlife I would have quit working a long time ago...
Did you catch this bit:
About 45 percent of respondents said if they were given $5,000 they would buy a certificate of deposit, and 50 percent said they’d invest it in stocks or mutual funds.
They missed the fact that 95% of respondents were still fucking idiots who'd be shanked in the markets anyway. Can I hope that the remaining 5% said they'd stash the 5K in gold or silver?
Fortunately for me, in my 60s now, I saw this coming as far back as '91 when I discovered the Markets were rigged. Unlike so many of my contemporaries, I never suffered the illusion of "being retired". It was simply another myth put forth by the oligarchy. Can you say......vanishing pensions?
Bingo. I converted all my "savings" to PMs beginning in '06, and I was WAAAAAAAAAAAAAAAY behind the curve.
Good luck.
very good..........you reasoned it out and acted accordingly.............
We need to lower the life expectency of the 99% so retirement isn't an issue
In progress.
:-(
its called obama care....already being wired in as we speak...
as they say in brooklyn..............forgettaboutit
http://www.youtube.com/watch?v=Zf0ZyoUn7Vk
Don't even need that. The ponzi already fried the retirement funds. Just has to work it's way through global cash flow from accounting fraud to the ultimate realization that retirement, overall, is cooked. Good luck to the elderly trying to get back into the workforce. The competition is going to be fierce and the jobs you are used to will be gone.
As long as our kids grow up thinking pizza is a vegetable, life expectency will fall. Unfortunately, diabetes and heart disease are expensive to treat. Maybe we could also teach them to run with scissors. Much cheaper.
Francis Sawyer clearly SPAMMING here, but if you've had enough with markets for today and are on to your bread & circuses:
NFL PICKS
Denver Broncos vs. New York Jets (tonight)
http://fantasy-sports-nation.blogspot.com/
Sorry for the spam :-(
Broncos.
I'm rootin for the quaterback wearing the superman underwear...I mean really...who wants to live till their 80 anyways...lol.
About 45 percent of respondents said if they were given $5,000 they would buy a certificate of deposit, and 50 percent said they’d invest it in stocks or mutual funds.
And the remaining 5 percent said they would just spend the $5k on hookers and blow, because at 80, do you really care that much?
WooooooooooooooooHooooooooooooo!
That, or pre-1965 silver dimes.
Fuk that. When I'm dead I'm outa here.
The Devil is always in the details. In the US, women live about eight years longer than men. So, the average woman will enjoy six years of retirement, while the average male..., WTF?
Because married men WANT to die after they retire. I waited tables in Boca, I know.
LOL!
Wow... just figuring that out... kudo's to your wife... takes real skill to keep 'em in the dark so long...
No problem--when you hit 80 just use a credit card. Won't matter at that point what balance you die with.
This is actually an interesting point you raise. The great leveraging is a recent phenomenon. What will happen when elderly people leveraged to the hilt begin to die? No previous generation has been leveraged to the degree people are today, so I don’t believe there’s a historical example…
Government bailout for the lenders, paid by You. (Isn't that clearly the trend now?)
Funny as hell! To make the math work, however, the deceased taxpayer would need to remove himself from SS payments, Food Stamps, Unemployment Insurance, Medicaid & Medicare.
So this is what they want, your WHOLE paycheck, yeah. Fuck them.
SEE? Anybody with a spreadsheet can see for themselves that everybody else is LYING TO THEM.
Great picture, I needed a laugh at the end of the day. The postmodern vampire has come so far. What a difference a century makes:
http://www.imdb.com/title/tt0013442/
I didn't know Serfs could retire.
DAMN! How am I going to deal with my Silver when it will be deadly to me after I'm dead? Wait..... I think this Vampire thing has some problems.
You're a werewolf?
Sad to say, many of the readers here at Zerohedge would never survive a vampire or werewolf apocalypse. We'd be seeing people shoot silver bullets at vampires but even more entertaining would be watching them try to drive a stake through a werewolf’s heart...
But we all know to go for the head with Zombies.
Silver works against all sorts of unholy fiends-vampires, werewolves, bacteria, fungi, intestinal parasites, lawyers, bankers, gangrene, politicians, the NSA, keepers of the Evil Eye, etc. Just depends on which tradition you follow. Anyone remember Blade or Dungeons and Dragons?
We'd be trying to recover all that silver. Sorry - didn't mean to get in your way!
OOps! I thought you were dead!
Ever see the documentary True Blood? Silver is lethal to vampires.
Work to 80? People over 45 that get laid off cannot get a job, let alone work one!
And what about all the recent college grads? 70 to 80 year olds still in the work force over them?
It'a all statistical masterbation anyways... It's all over but the crying now...
People over 45 can hardly get laid.
...particularly p u s s y's
I can assure you 45 can get laid!
I can report back from my travels to Upper Hedonism that it is possible to overdose on sex.
Be careful my friends.
Is 'travels to upper hedonism' the new euphemism for hiring ladyboys in Pattaya? Major Thumbs Up!!!
Amen brother!