The new retirement model revolves around dying broke and realizing that the 401k model of investing is a sham for most Americans.
mybudget360.com / June 30, 2017
The new retirement model means working until you die. Most Americans are broke and living paycheck to paycheck. Yet the stock market is near a modern day peak. What is going on? Wasn’t the 401k experiment that launched in the early 1980s to replace pensions supposed to be a panacea in terms of building out nest eggs for the masses in their golden years? That was the idea but unfortunately inflation has eaten away at the standard of living and many Americans simply did not have enough to save when it came to retirement. We know the drill – sock away X percent a month and after 30 or 40 years you will have seven figures. Well here we are, nearly 40 years from that experiment and most Americans have little to nothing in their retirement accounts and the pension (a forced 401k in a way) is virtually extinct. So is dying broke the new retirement model?
Americans have very little saved
This might come as a surprise but most Americans have very little saved when it comes to retirement (assuming they even have retirement savings). The numbers don’t even look that great after a massive bull market.
The post The new retirement model revolves around dying broke and realizing that the 401k model of investing is a sham for most Americans. appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/07/01/the-new-retirement-model-revolves-around-dying-broke-and-realizing-that-the-401k-model-of-investing-is-a-sham-for-most-americans/
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Our government takes all of our money and divies up amongst themselves and their special interests..for never ending wars, half a billion for israel each year, money sor sham “green” energy startups…our government does little more than sit around thinking of ways to steal the money from the working class….and they talk about rolling back Medicare, cutting SS and any program that might benefit citizens other than the elites….right now Trump wants a big tax deduction for the 1% and corporations….as for the working class they will get what they ALWAYS get the shaft……until our government is changed we the people will face nothing but ever increasing poverty…..I read it will cost a couple at least a half million in retirement savings just to cover the run of the mill medical expenses…who has that kind of money? Not the working class….