Retirement plans attacked for ‘savings inequality’ ???

[Simonpie]

I think there's a bad assumption in this number. Nobody stays in one job anymore. I have 3 IRA's. That makes my average IRA 1/3 of my actual savings. Sure, I can roll them over, but there's no incentive to do so. I'll probably have 6 (and a small pension) by the time I retire. I'm not denying there are a lot of people unprepared for retirement, just saying the $12,000 number may be skewed from reality.

Back to the original post, I read somewhere a couple of months ago that the median amount saved in 401k/IRA is $12,000. That means that a LOT of people have nothing saved for retirement.


Peter

 

[clearconscience]

Heard that if you signed up for obamacare and you die they steal all your estate. One of the shady ways they intend of paying for that burden.

 

[Oregonhunter5]

Heard that if you signed up for obamacare and you die they steal all your estate. One of the shady ways they intend of paying for that burden.

Say what?! Is this true?

 

[clearconscience]

They were talking on Lars about it. Not sure of it was only for medicare or medicaid.

 

[Sodbuster]

Say what?! Is this true?

(Regarding Obamacare and them taking your estate after you die)

Yup -- it's true. It's been true with Medicaid for decades. Government wants to get "its" money back. You are the closest one since they spent all that "money" on you and your final illness.

Gotcha

 

[Oregonhunter5]

I knew this about Medicaid, but not just cause you have Obama care. There's many people looking to sign up for idiot care, that aren't Medicaid status as far as finances.

 

[Blitzkrieg]

All those programs are communism, even SS now that the SS trust funds were raided back as far as Reagan

 

[Sodbuster]

All those programs are communism, even SS now that the SS trust funds were raided back as far as Reagan

Only problem is, the social security "fund" was nothing more than numbers. There never was any money in the "fund". From the beginning, FDR's administration knew that the monies collected would only pay for those currently collecting social security. So the so called raid was nothing more than a transfer from one portion of the budget to another.

 

[erudne]

so pay checks are nothing more than what? Because that's where that money comes from, the impoverished paychecks of working Americans

Anyway, to get a historical grasp on what is happening to Americans read the Wikipedia synopsis of Atlas Shrugged or Gulag Archipelago

 

[Blitzkrieg]

Only problem is, the social security "fund" was nothing more than numbers. There never was any money in the "fund". From the beginning, FDR's administration knew that the monies collected would only pay for those currently collecting social security. So the so called raid was nothing more than a transfer from one portion of the budget to another.

As I understood it, there were "funds" until the raids began. Are you saying it was all electronic hocus pocus? (That would make sense)

 

[Sodbuster]

As I understood it, there were "funds" until the raids began. Are you saying it was all electronic hocus pocus? (That would make sense)

Another artifice. The "funds" were only that, numbers in a ledger. That's why FDR sold it as a retirement "insurance" or old age insurance. Similar to the Obamacare fiasco. That's why they had to have 4 years of taxes to make it work without costing the budget anything. But as with social security it's all smoke and mirrors.

Sodbuster

 

[Burt Gummer]

8 Events That Prove Your Money Is Not Safe In Europe, Or Anywhere | The Daily Sheeple

 

[3MTA3]

It's all illusion anyway since none of its backed by anything and we can print all we want. Hope you put some of it in silver or other real currency.

 

[deen_ad]

I think there's a bad assumption in this number. Nobody stays in one job anymore. I have 3 IRA's. That makes my average IRA 1/3 of my actual savings. Sure, I can roll them over, but there's no incentive to do so. I'll probably have 6 (and a small pension) by the time I retire. I'm not denying there are a lot of people unprepared for retirement, just saying the $12,000 number may be skewed from reality.

My wife and I did, 33 years for her and 30 years for me, even so we met with our broker last week, his comment was that to have our retirement income we would need over 3½ million in the market to get that much income. Some of ours is SS, some is retirement plans, some annuities and other savings. It's not all in one "basket".


Deen
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