At Work

Saving for retirement; not a top priority for many 

imageWhat are Americans thinking? How are Americans setting their financial priorities? Do we need a better way to assure reasonable retirement ala expanded Social Security or more “forced” savings in some manner?

Employers have largely abandoned pensions, a short-sighted move in my view. We can rely on personal responsibility all we want, but as that appears not to be working, then what?

How will society cope with generations who cannot afford to retire, who have inadequate income, who must rely more on public assistance? What are the implications for our economy (everything from consumer spending to paying for health care)?

So, other than ignore it, what the hell are we going to do about it?


Source: gobankingrates.com

Advertisements

2 replies »

  1. Expanded Social Security is an idea that will benefit all employees. 10% for employee and employer. Since many employers have dumped pensions. Also, more new jobs are coming from lower paying retail positions it would provide a more secure retirement for many. I would give some kind of tax break for the self employed person that is having to pay 20%. You could do a phase in over several years to get to the 20%.

    Like

    • Not ideal, but given the reality of the situation it may be necessity. They key though is where does the money go to be invested.

      Like

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s