The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Well on Less


Subject:  Re: Parents Nearing Retirement Date:  9/15/2006  12:42 AM
Author:  fred04 Number:  991 of 1700

It occurred to me that you or other young people might not realize that your parents probably did plan for retirement. Many old folks planned according to what made sense at the time. However, they did not plan for the government to fail on the commitment to Social Security. They did not plan for the government to lie about CPI numbers in order to reduce SS payments. Neither did they plan for companies to be sold out to competitors,.. or pensions to go to wasteful managements and golden parachute packages. The old folks had good plans at the time, but they could not see the future.

It also occurred to me that although contributing to a 401K or IRA is a noble cause, it is not a