Standard American Retirement plan equates to flying by the seat of your pants: The majority of older Americans rely on Social Security as primary source of retirement income.
Social Security keeps half of elderly Americans out of poverty. You need to recall that many older Americans came of age during the 401k cult worship of Wall Street. Greed is good as portrayed in the movie Wall Street. Stories developed as a sign of caution actually drove many to aspire to become financial mavens […]
Planning for retirement does not happen overnight. You need to diligently plan and sock away savings like a squirrel stocking up for the season. Many Americans have no retirement savings and more troubling, many near retirement face a compressed timeline where they will need to save or face a massive decline in living standards in […]
The thriving cronyism of the stock market: 81 percent of stock market wealth held in the hands by 10 percent of the population. Housing also being snatched from middle class families.
Most Americans are confronting a system where the deck is stacked against their interests. Most Americans saw the true colors of the system during the Great Recession panic when government joined forces with Wall Street to essentially fire the middle class with explicit and hidden bailouts. There is unfortunately a large amount of cronyism embedded […]
A day of reckoning has arrived to retiring Americans: 63 percent of Americans that start working by the age of 25 will be dependent on Social Security, relatives, or charity by the time they hit 65.
The notion of retirement is a fairly new one outside of wealthy circles. For most of civilized history, people worked until they died. Not a glamorous way to go but that is simply the course of human history. Only until recently with the emergence of the middle class was there a general semblance that retirement […]
New definition of retirement = work until you die: Half of Americans have little to no savings for what will likely be a long and drawn out retirement.
The ideal vision of retirement is one of constant leisure supported by a sizable nest egg. Building a nest egg takes decades of discipline and careful planning. Unfortunately, many Americans did not adequately prepare and combined with the casino like financial system, many have been washed out of the system. Many retiring baby boomers are […]
The looming retirement train wreck: Pension issues, lack of retirement savings, and extending the date of retirement all part of the current economic future.
The concept of retirement is a fairly modern one. In fact, we can argue that only one generation actually got to enjoy a long and relatively healthy stay in retirement over a mass population. For most of history, life and work went hand and hand and people retired essentially when they keeled over. The only […]
The new American retirement nightmare: Many Americans find they are completely unprepared for retirement.
Starting in late 2010, we reached a threshold where baby boomers were reaching the age of 65 at a rate of 10,000 per day. This will last into 2030. What was once thought of as a retirement age is no longer the case. The body has not evolved to adapt to financial circumstances but people […]