VIDEO ON MSN MONEY
Cracks me up. "If you are 10 years or more from retirement its best not to plan on Social Security at all."
So the authors are predicting nothing less than the complete economic collapse of the US Treasury in 10 years or less, yet we should keep investing in the market, because the market will be able to ignore the economic collapse of the US Government.
Ms. O'Hara, I can't decide if you are an idiot or a firestarter. I vote the former. Your next article should seal the case.
Retirement??? America, your in for a rude awaking!! I thank my lucky stars, that I was one of a lucky few, to be able to retire, from a good job, with a good pension, benefits, and full S.S.I. I invested wisely, and got out of debt, upon retiring. I worked hard, and worked smart, now enjoying the fruits of it.
The way, things are, now days, and unless there are some drastic changes, I just don't see much of a future, for most Americans. Welfare, isn't a good retirement plan. And, for or some of you wondering? No, I didn't ware a suite and tie, to work. Just a blue color job.
Although there are "many myths"....Many about to be retirees, seem to think you may need a Million dollars in Savings or Investments.....Well investments can be the tricky part...??
If we had waited for that, I probably would still be working; But investments over the years including even the downturn from 2007-2009 were a minor/major set back, that makes you take interest and reconsider every part of your retirement...You have to try and move on, a very good recovery presented itself...But many panicked, and didn't or couldn't take advantage of it...
Those investors or savers lost twice..
Unfortunately the sad part was many were at the doorstep of walking into retirement..
And now we have a fear factor for many, much like what happened in our past Depression..
The one in '29-40s.
It is much cheaper to live in retirement than most seem to think..
Add it all up, without any extravagance and it becomes much clearer..
You might be surprised by what you DON'T need and what you can go without...
Planning ahead would have been the FIRST step..
ANOTHER 35 slides to go through and spend 20 minutes of my life...Hunched over a computer.
Although I really don't want to be STRANDED in the middle of the Pacific on a Catamaran either.
Prepare for retirement, gather all or any money making or collecting ideas that you can...
Be ready for retirement with some sort of plan..
Take control of investments, savings and budgets...
Then sit back and enjoy your life....
And do what you want or can afford to do...
DON'T blame your problems on anyone else.
Myth, there is an account with money in it that has been gathered by the govt for your retirement.
Myth, there is enough money in the fed budget to keep paying Soc Sec payments
Myth, if you like your insurance you can keep it
Myth, if you like your doctors you can keep them
Myth, Democrats really do care, they're not just buying votes with your money
Myth, AARP is not in the hip pocket of the Democrat Party
Yes, almost ALL of us spend less in retirement: no mortgage, no retirement savings, no FICA, no work-related expenses, and if you're married and make $20K in Soc.Sec. and $22K in taxable income, you pay NO taxes on Soc.Sec. because 1/2 Soc.Sec. + taxable income is $32K or less. So you WILL pay less in taxes if your income is comparable to when you worked.
So "myths" 1 and 3 are TRUTHS for most people.
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The Fed's latest statement confirms that it won't be coming to the rescue of depositors soon, but these institutions are worth following anyway.