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Author Topic: Money  (Read 8065 times)

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Re: Money
« Reply #540 on: December 29, 2018, 04:41:04 pm »
Do Most Americans Have a Retirement Plan?

In 2013, Wells Fargo surveyed 1,000 middle-income Americans earning between $25,000 USD and $100,000 USD a year, and asked if anyone planned to work until they died, or until they were too sick to work. They found that an astounding 37 percent of respondents were resigned to the fact that they would not be able to save enough to ever stop working. And an additional 34 percent figured that they would have to work until they were at least 80 years old.

A not-so-sunny future:

Fifty-nine percent 😨 of respondents said that their top financial concern was paying day-to-day bills. About 42 percent admitted that they weren't able to pay their bills and save for retirement at the same time.

Only 30 percent of those surveyed said they had a retirement plan. Forty-five percent said they didn't have enough assets to warrant having a plan, while another 25 percent said they didn't know how to set one up.

Around 75 percent of respondents said they were not confident that their savings would be safe if invested in the stock market. About a third said they would be relying on Social Security as their primary income during retirement.


Agelbert NOTE: What needs to be done (but probably will not be done ) to stop the oligarchic, family impoverishing, Capitalist Madness in the USA:

֍ To begin with, all those now indebted due to health care costs or college loans whould have their entire debt written off by the U.S. Government. That amount would be a pittance compared with all the Zombie Capitalist Bank debt that was, for all practical purposes, written off by the U.S. Government in 2008 through ex nihilo money printing by the Fed.

Take the cap off the maximum income for Social Security withholding,

Begin to Social Security Tax "unearned" income (i.e. Capital Gains),

Use the CPI-E cost of living formula AFTER DOUBLING all current Social Security pensions (in order bring them to the purchasing power they have LOST in the last 35 years, since the Alan Greenspan CROOK adjusted the formula to severely understate inflation) to reflect reality and finally,

Fund the whole deal with a transaction tax of $0.001 on each and every stock purchase.

After that,

💐 The age for eligibility for Social Security needs to be dropped one year,

💐 each year, until it gets to age 1.  💫

💐 Obviously, the Social Security eligibillity requirement of a certain number of "working quarters" needs to be eliminated along the way.

🎍 As part of the above morphed Social Security Pension system (i.e. Transformation to a Universal Basic Income system), health care would no longer be a cost item. IOW, people, from the cradle to the grave, would go to a doctor, dentist or hospital when in need and never see a bill. The U.S. government would be billed. The government would pay health care professionals directly.

🕯️ All education, from pre-kindergarden child care to college and graduate education, would also become a no cost item.

It could EASILY be done.

BUT, the crooks and liars running the system 😈 👹 💵 🎩 🍌☠️🚩 (into the ground) just don't want to do it because they insist on irrationallly clinging to their failed CAPITALIST ideology. 👎👎👎

Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12


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