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fingfool writes:

My observations of people over my many years are that poor judgement and discipline are not directly correlated to income or education. I have known of many people with high education levels and incomes who did not prepare well for their retirements and, on the other hand, those with low formal education and income levels exhibit the judgements and discipline that allowed them to do quite well in retirement.

Whether or not poor judgement and discipline correlate to income or education, there are people who have problems with voluntary savings. Look at the current records of savings vs debt today. Consider that credit card debt is $7000 per cardholder. What is the average savings figure? How much is in the savings accounts of the people we are concerned about?

In your observations, how many people do you estimate will never put money in the market because they do not trust it? How many are there that have only a glimmer of what the market is and how it functions?

Why not separate the problem into the issue of retirement investment (where I favor a transition to voluntarism) and the issue of charitable response to those who can't or will not contribute to investments/insurance? Why is their no push from the politicians in Washington to educate people on the needs (and exhilaration of the independence it brings) of people saving for their own retirements and contributing to insurance programs?

A charitable response to the issue is not a reasonable response.
Charity stinks - no one likes it if they are on the receiving end and IMHO, the administrators of the charitable program will create a really inefficient dole.
Talk to the guy on the line every day about the exhilaration of saving for retirement and you will find the edge of where the gap between the haves and have nots begins.
I think you have a really big educational problem on your hands.

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