The Debunking of the Previous Coming Retirement Revolution Optimism: More Americans expecting to retire in their 80s (If they are still alive)

For Your Entertainment (FYE)

“One of the striking results of the survey released Wednesday is that 25 percent of the respondents said they’ll need to work until at least age 80 because they will not have enough money to retire comfortably. Even those who plan on retiring expect they may continue working in some capacity and for various reasons: About 75 percent said they expect to work in their retirement years; About 39 percent said they will need to work to afford things they want or to maintain their lifestyle; and Another 35 percent say they’ll work because they want to. It seems the old expectations of working until one’s 60s and then taking it easy have been cast aside. In the survey, 76 percent of the workers interviewed said it’s more important to have a specific amount saved before retirement, regardless of age. Only 20 percent said it is more important to retire at a specific age, regardless of savings.”   “The median saving goal for retirement among survey respondents was $350,000, while their median savings was just $25,000, about 7 percent of the goal.”   “Retirement planning is still something that most workers haven’t focused on. The survey shows 69 percent of respondents do not have a written financial plan. A majority — 60 percent — said they were overwhelmed or that it was pointless because they’re too far behind to catch up.”   ” Where do these 80 year olds think they’re going to work? I’m in my 50’s and have been unemployed for a long, long time and really have little hope of working again despite degrees and lengthy experience. There are no jobs for people in their teens, 20’s, or 50’s and above. This is the new reality and things are only getting worse.”   ” “Retirement Planning”: now there’s a laugh. Between the scoundrels and thieves on Wall St., and the ineptitude and corruption of government, you’re lucky if you still have your underwear at retirement age. With disasters like Enron and Worldcom, aunt Edna and uncle Zach are now back in the job market, working the night shift at Piggly-Wiggly, while the perps are living in style somewhere in Thailand, or relaxing at our expense in some white-collar, minimum-security resort. Unless you have near-perfect health, expect to be bent over by the healthcare system, sodomized by Big Pharma, and drained by the vampires of “supplemental plans”. Check, please!”   “According to Dr. Dan Ritschel of the Center for History Education at the University of Maryland: “The great Malthusian dread was that “indiscriminate charity” would lead to exponential growth in the population in poverty, increased charges to the public purse to support this growing army of the dependent, and, eventually, the catastrophe of national bankruptcy. Though Malthusianism has since come to be identified with the issue of general over-population, the original Malthusian concern was more specifically with the fear of over-population by the dependent poor!”   “Malthus clarified his view that if society relied on human misery to limit population growth, then sources of misery (e.g., hunger, disease, and war, termed by Malthus “positive checks on population”) would inevitably afflict society, as would volatile economic cycles.”   How are you retiring, living homeless in tent cities, eating from food banks?   Cheers! Enjoy! The Future “New Worldwide Austerity Resistance and Senior Citizens Revolution” is Coming!  ;+)   We will follow the example of David against Goliath and we will NOT go begging, we will go stoning (as in cobblestone slinging)!  ;+)


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