02-24-2023, 07:09 PM
(02-23-2023, 10:06 PM)samhain Wrote: It's really going to be some shit in this country in about 20 years.
People my dad's age (baby boomers) largely retired with health care coverage and an actual retirement.
My dad passed 9 years ago, but despite probably not saving quite enough, my mom is well taken care of by the railroad both pension-wise and healthcare-wise.
People like that are going to be a thing of the past. We will soon have an entire country full of retirees that either saved enough through a 401K (if they had a decent one), or will live off of social security. Regardless of their savings, they'll likely be on medicare.
That's going to be an entire elderly populace either working until death or incapacitation, or living off of the government to some extent. Yikes.
Hard to say what will happen in 20 years. Seems like people have been saying Social Security will be gone by the time people get old enough to use it for decades (just an example of it being hard to predict so far out)
I personally think as long as pensions/retirements make up a good chunk of the market assets, then people will be fine in retirement. A quick google has pensions (not sure if this includes 401ks or IRAs) around 25% of total market assets....and as long as it's that high (because old people like to vote) then I think our government (BOTH PARTIES) will continue to protect it.
