The disconnect that the public *needs* to understand for survival:

[salin]

The GOP wants to raise retirement age - and more strictly limit pay outs. What isn't said is that if you aren't putting 10K-20K (or more) aside to save and/or invest in retirement - you won't be able to retire.

At the same time the current GOP policies that are being pushed don't create jobs, and suppress salaries. yea

Given that mutual fund earnings have been nearly flat over the past 10 years (i.e. the amounts gained get lost later and the net gains divided by 10 years is more than minimal. The old projections over a decade or more of growth in invested money - no longer hold true.)

The real message that IS NOT EXPLICIT BUT IS REAL is - forget "investing" for retirement. Saving (for the past decade) is safer. But to save for even a very modest retirement - requires HUGE annual savings.

Given the current economic situations - how many of you reading this - earn enough beyond costs of living to "save" for retirement?

If this is to be our new reality - don't we need to have this discussion as a society - so the reality hits home and that spending choices can be made to increase saving at exponentially larger rates? Wouldn't those spending changes have a severe effect (per pulling back on economic spending) on our economy? And without such personal spending cuts (for those earning enough to actually have enough extra earnings to put into savings - at a serious level each year to provide for retirement) what percentage of the population will never be able to retire (per social security being cut severely and lack of ample savings/investments)?

I don't know how to boil these points down to a sound-bite. If you can - please do. Because these are the logical down the road realities being created by the far-right rep policies being pushed at the state and national level.

Any suggestions?

[msongs]

1. save = banks are paying 0.00000000000000001% interest and charging 25% nt

[salin]

5. The discrepency is obscene. But there is no pubic discussion around this

thus no pressure to change it. I can earn somewhere less than 1% on my savings, but it is safe- or I can put it into a very mercurial market (except for those BIG institutions with insider knowledge) and risk losing a big portion of it.

That reality is my point that we have entered an era where we have to SAVE for retirement. Not count on interest on said savings - but hard dollars. How the heck are the parents of a family of four who aren't earning huge salaries going to be able to save enough?

[MichiganVote]

2. it boils down to if you have it they want it

[salin]

9. true, but the general public has not translated that into their own reality

and what it means for their future.

[opihimoimoi]

3. There should be a tax restruction thing....fair for all....

Planning the National Budget w clarity

[salin]

11. love you, ohihimoimoi , have since I first met you at DU

wish that the general public has such clear insight.

[opihimoimoi]

15. I of failing vision thank you...LOL.... :o)

:kick:

[Armstead]

4. Saving requires money. That does not seem to be a social priority.

Therefore any discussion of saving is moot for far too many people.

The disconnect is that those on the losing end of the stick ---which is becoming an ever-growing percentage of the population -- either actively support politicians and policies that are self-destructive or are too tuned-out to care.

It will ultimately require that enough people wake up and start to push for both a change in social values (economic fairness is not a wimpy term) and put in and push for politicians to actually tackle the root causes for the problem of money being funneled upward.

[salin]

8. I agree - and it frightens me per our future.

The idea that many in my generation (and more in the following generations) will have few retirement options - and have no foresight into that reality is deeply concerning. What will that reality look like?

I am greatly fortunate. For the first 15 years out of college I worked low-paying non profit work, and then was in grad school. Next to no savings, but learned to do without and live on a low income. As my income has increased (not to a great amount) I have tried to keep living on the near poverty budgets and save the rest. Am far from saving a nest egg large enough for retirement - but at this rate should be okay - for a very modest retirement. But I know few people who have put themselves on a similar austerity program.

I fear less for myself, than I fear for a large percentage of those my age - who have little saved (while closing in fifty.) Without such an honest discussion - how does one weigh buying the 50' wide screen vs. saving that money? Worse scenario - how do we talk about cutting spending and wages (without spurring employment) - and what that means for social security and retirement - to the tens (hundreds?) of millions barely earning enough to meet the cost of living. Where can one "save" if 20K is to support a family?

[Armstead]

14. I sold a house recently and have money behind me for the first time ever

I think being used to a modest income before the stuff hit the fan is an advantage in adjusting to the new reality.

Most of my life life I've lived on a break even basis.

But we recently sold the family home. I didn't get a huge amount, but more of a nest egg than I had.

My retirement strategy is that I'm trying my best to stay on a break even basis, and live on the ongoing money I earn....I also realize I'll probably have to work to a fairly ripe old age on some basis.

At first the temptation was to spend, but fortunately, I have basically kept to my former spending habits.

It was weird walking Into stores and knowing I could buy anything I wanted. But for the most part I resisted the temptations like buying the big TV or new furniture when used furniture would do just as well.

I did succumb to a few things like a new IPad, a big print for the wall....And I go out to eat more than I should...but mostly have behaved.







At the moment am trying as much as possible to bas

[snot]

6. Meanwhile inflation's getting ready to eviscerate savings.

[salin]

12. ironic, since the reason given for keeping interest rates (per savings at banks)

so low has been to keep inflation low. Sadly ironic.

[Xicano]

7. ...

Oops

[wtbymark]

10. a great descrption of feudalism n/t

[salin]

13. tragic - that my scenario (of reality) could be described as feudalism...

but there we are. And sadly, much of the public has blinders on upon that reality - and no national figure with a big microphone is pushing this reality into the public psyche.

[Armstead]

16. Kickity