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re: This Is What Life Without Retirement Savings Looks Like
Posted on 2/22/18 at 9:22 pm to OleWarSkuleAlum
Posted on 2/22/18 at 9:22 pm to OleWarSkuleAlum
Honestly, this article is pretty misleading. The baby boomers and the generation before them generally had jobs with pensions to depend on in retirement along with Social Security. Ultimately, the country started shifting towards socialism and pensions became less common...it wasn't until about 1980 that the 401K was even invented. people didn't make much money back then, but their benefits and retirement programs provided security.
4
Posted on 2/22/18 at 9:25 pm to Spankum
quote:
it wasn't until about 1980 that the 401K was even invented.
Ok, and your point?
Posted on 2/22/18 at 9:33 pm to Spankum
quote:Huh?
The baby boomers and the generation before them generally had jobs with pensions to depend on in retirement along with Social Security.
Baby Boomers are ‘46-‘64.
I can tell you from personal experience that jobs with pensions were not nearly as plentiful then for one to be able to say they were “generally” there to depend on.
Moreso than today for sure but not nearly 50% of real full-time employment has pensions in the South.
Maybe in more deeply unionist areas.
Posted on 2/22/18 at 9:45 pm to Spankum
quote:
Ultimately, the country started shifting towards socialism and pensions became less common.
I guess a pension is never going to pay out in socialism due to the government failing before you retire, but I still don't see how a 401k is socialist.
Posted on 2/23/18 at 12:19 am to Spankum
quote:
it wasn't until about 1980 that the 401K was even invented. people didn't make much money back then, but their benefits and retirement programs provided security.
So...
401ks didn't come around till these people were in their late 20's?
My dad is 66. He was 29 in 1980.
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