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Investing/Strategies / Retirement Investing
|Subject: Re: Don't worry about boomers killing the market||Date: 8/3/2006 8:39 AM|
|Author: Goofyhoofy||Number: 52921 of 76615|
The vast majority of Americans have ignored the government advice on this, and now want to blame the government. This is crazy.
Actually it isn't "the vast majority". It's about half. Studies show that "about half" of future retirees will rely on Social Security for all, or nearly all of the post-retirement income.
That contrasts with people in the 1920's and 1930's, when "about half" of all people were without any income at all, post retirement.
My conclusion, therefore, is that "about half" of the adult population are idiots, and no matter what you tell them or don't tell them, are not going to prepare for the day when jobs are no longer available to them. And that is why a program like Social Security serves a purpose, to withdraw money during their productive years and return it (in aggregate, not personally) later, so we don't have hoardes of starving people littering the sidewalks.
Once upon a time that was taken care of by "family" (and poorhouses), but that ended with the acceleration of the industrial revolution and the migration of people from the farm to the city, which broke the traditional "3 generations under one roof" model which was commonplace in early American life.
If the government tells you not to play in the street, but you do it anyway and get hit by a car, is it their fault or yours?
Actually, legally speaking, it is likely a shared fault under the concept of "attractive nuisance." If you put a ladder against your store and put a sign on it that says "Don't climb on this ladder" and a 12 year old does anyway, you are partially at fault for having left it in a place where injury or damage was a foreseeable outcome. Likewise if you leave your bongo board on the sidewalk, or if you advertise "FREE STUFF INSIDE. DOORS OPEN AT 8AM" and someone is hurt during the trample as you open the doors.
Of course government tends to exempt itself from such things as "injuries in the street", so it's a moot point for this example, but simply providing a warning does not absolve someone from responsibility for foreseeable problems which later cause injury.
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