- Some 40 percent of middle-class Americans are at risk of poverty in retirement, due to depressed earnings and asset values and increased health-care costs.
- Nearly three-quarters of workers now plan to work past traditional retirement age.
- Both workers and employers must focus on a fix: the former by saving more, the latter by ensuring that defined benefit plans are efficient and sufficient.
You can read the rest @
https://www.cnbc.com/2018/10/12/40percent-of-american-middle-class-face-poverty-in-retirement-study-says.html
While the basic claim is true, the suggested "fixes" are total BS:
- few workers can afford to save more, and most cannot even make ends meet; and
- the benefit plans WERE efficient and sufficient until Congress changed the rules so that they were NOT and to allow the junk bond raiders to siphon all the money from our previous plans. No company now can afford to make them solvent and stay competitive at the same time.
CNBC either is stupid or acting as a shill for the pigs who have destroyed our nation's economy.
Yes, sharing is the key to our survival:
ReplyDeletehttps://dissidentvoice.org/2018/10/sharing-is-key-to-a-new-economic-and-democratic-order/
However, history has proven that the poor share while the rich do not. And until they do, any "sharing" scheme will be just another way for the rich to plunder the poor.
Guess what? The Germans, some of the most productive workers on the planet, are being fed the same baloney about their retirement:
ReplyDeletehttps://deutsche-wirtschafts-nachrichten.de/2018/10/12/das-neue-dwn-magazin-die-rentenfrage/ [translation required]
News Flash !!! The rich and the globalists stole our retirement. Are we going to let them get away with this? I hope not.
Here is an example of what I mean:
ReplyDeleteReal estate investor Sam Zell ... orchestrated a leveraged-buyout of the Tribune Company, parent of the Los Angeles Times and the Chicago Tribune, investing merely a sliver of his own money, with the bulk of the financing coming from the pension funds of the company he was acquiring. Widely heralded as “the grave dancer” for his shrewd financial investments, Zell publicly boasted that the deal gave him nearly all of the upside potential of the company, while he bore relatively little of the risk. Such an approach proved wise since the complex deal quickly collapsed into bankruptcy, and although Zell emerged almost unscathed, the editors and journalists lost decades of their accumulated pension dollars, while massive layoffs soon devastated the newsrooms of what had been two of the country’s largest and most prestigious newspapers.
Source - http://www.unz.com/