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Many Middle-Class Americans Plan to Work Until They Die


Business  (tags: theillusion of retirement, savings rate, americans, consumers, ethics, labor, society )

Cal
- 364 days ago - money.cnn.com
A growing percentage of middle-class Americans say they have saved so little for retirement that they expect to work into their 80s or even until they either get too sick or die,



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Comments

Pat B. (354)
Wednesday October 23, 2013, 3:23 pm
Thanks, Cal for this. Good article, and passing on also.
 

Sue H. (7)
Wednesday October 23, 2013, 4:05 pm
I'm thankful that my parents were depression era and taught me to save. The importance of putting a little away and pretending it doesn't exist should be a part of every youngsters education.
 

Roseann D. (178)
Wednesday October 23, 2013, 4:13 pm
Just the way the GOP wants it. Not sure what these corporations are going to do with a Physically Incapacitated or Senile Workforce though. The more likely scenario will be these people will become homeless. A cruel, unjust society.
 

Elle B. (82)
Wednesday October 23, 2013, 5:34 pm
Ty Cal ...

"When a man tells you that he got rich through hard work, ask him, 'whose?" — Don Marquis

"For it is an absurdity to call a country civilized in which a decent and industrious man, laboriously mastering a trade which is valuble and necessary to the common weal, has no assurance that it will sustain him while he stands ready to practice it, or keep him out of the poorhouse when illness or age makes him idle." —H.L. Mencken

"No business which depends for existence on paying less than living wages to its workers has any right to continue in this country. By living wages I mean more than a bare subsistence level --I mean the wages of decent living." —Franklin D. Roosevelt, U.S. President

"It is time that all Americans realized that the place of labor is side by side with the businessman and with the farmer, and not one-degree lower." —Harry S Truman, U.S. President

“Should any political party attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs, you would not hear of that party again in our political history. There is a tiny splinter group, of course, that believes that you can do these things. Among them are a few Texas oil millionaires, and an occasional politician or businessman from other areas. Their number is negligible and they are stupid.”
—Dwight Eisenhower, U.S. Pres., REPUBLICAN

"We must make our choice. We may have democracy, or we may have wealth concentrated in the hands of a few, but we can't have both." ―Louis Dembitz Brandeis, US Supreme Court Justice

“Stupidity has a knack of getting its way.” ― Albert Camus
 

Lois Jordan (56)
Wednesday October 23, 2013, 6:10 pm
Noted. Thanks, Cal. Yes, our retirement has also been "postponed."
 

Carmen S. (612)
Wednesday October 23, 2013, 6:33 pm
Thanks Cal, seems like very few people these days think they will ever be able to retire.
 

Katie D. (86)
Wednesday October 23, 2013, 7:32 pm
Thank You
 

Joanne M. (22)
Wednesday October 23, 2013, 7:45 pm
There is also a segment that chooses to work rather than retire even when they can afford to.
 

cecily w. (0)
Wednesday October 23, 2013, 8:35 pm
People may plan to work until they're 80 or until they die--if they can get the jobs. Good for them! But it also helps to realize that things could change--for the better, or for the worse, or just different. That can be true for retirement investment vehicles, for Social Security, for government programs, or even for where you live. Lots of things could result in a detour from the path you've plotted.

 

Veronica C. (43)
Wednesday October 23, 2013, 9:46 pm
At this point, I don't see myself able to afford retirement when the time comes. My health isn't great either. Really scary.
 

Marcia Singer (1)
Wednesday October 23, 2013, 9:47 pm
Note to Eisenhower: Yes, they're still stupid; however, unfortunately their number is no longer negligible. :(
 

Dogan Ozkan (5)
Thursday October 24, 2013, 12:33 am
noted
 

Alfred Donovan (46)
Thursday October 24, 2013, 12:36 am
If this is true it means you are going to have millions of young people who will never gain employment.
 

Christeen Anderson (513)
Thursday October 24, 2013, 4:40 am
Most of them don't have a choice.
 

. (0)
Thursday October 24, 2013, 6:14 am
A lot of people don't have much of a choice. Thanks for sharing, Cal.
 

Daniel Partlow (189)
Thursday October 24, 2013, 6:25 am
Same boat I'm in. But who knows if you can keep a job or find new ones? I'm having trouble getting a new one! Got laid off June 2012!
 

Ellen G. (343)
Thursday October 24, 2013, 6:53 am
Many more will die before even finding a job.
 

pam w. (191)
Thursday October 24, 2013, 9:19 am
But--but---but.....what about the famous Reagan "'trickle down'' theory?

 

Carol D. (109)
Thursday October 24, 2013, 11:20 am
Noted thanks
 

Joanne Dixon (40)
Thursday October 24, 2013, 1:18 pm
I have news for these workers. You may not be able to choose to keep working. My last full time job left town in 2010. In two years I was only able to find one three-month temporary job paying little more than half what I had been making previously. I had no choice but to apply for Social Security. My advice to people who think thay can't save is to drastically cut back their lifestyle until they can save. Or else their lifestyle will be drastically cut back for them.
 

Roger Garin-michaud (68)
Thursday October 24, 2013, 2:21 pm
very sad !
noted, thanks
 

Birgit W. (147)
Thursday October 24, 2013, 2:41 pm
Most of them have no choice. But it can only work if they are healthy.
 

Allan Yorkowita (445)
Thursday October 24, 2013, 3:06 pm
In my case Social Security benefits have been pushed back to 65 yrs old. With a dwindling teacher's pension, I I have no idea when I can retire.
 

Inge Bjorkman (143)
Friday October 25, 2013, 1:27 am
Stop working, start living, you have only this life, money can not be eaten. Grow your food, there is always a small patch of land to all. That is life.

Love
 

Janet R. (34)
Friday October 25, 2013, 5:49 am
I'm one of those. Even though I saved for my retirement, being laid off several times in the last decade combined with stagnant wages has put me further and further behind. I just hope that I can stay healthy until I can retire. What fun to look forward to.
 
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