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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75781  
Subject: Re: Coming down the pike Date: 2/1/2006 9:58 PM
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What is life going to be like for society when a HUGE number of people over 65 are living on $13,940 in social security and less than $45,000 in savings. How much can they make working part time at Walmart or McDonalds? What happens to the "consumer" economy? Healthcare?

Most retired folks live on two checks from SS, so the actual monthly draw is around $23K. Frankly, if folks aren't responsible enough to save more than $45K over their working live, then I don't really give a hoot what happens to them in retirement. It's not my obligation to worry about them. I don't think it's the government's obligation. If they elected to consume all their working life, then they can stop consuming during their retirement years. I don't know where liberals get these data, but a majority of working Americans will have either a pension or 401k to supplement their SS and savings. Retirement is made up of pension/401k/IRA, SS, and regular savings. Those with no regular savings are going to have less to live on. Those without savings or pension/401k/IRA will have even less. The lession is to get off your ass and take care of your own retirement, because I don't plan to take care of your's for you, at least not if I can help it.

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