sportage
Lifer
- Feb 1, 2008
- 11,493
- 3,159
- 136
Well, now the ball is in their court.
Can they play the game, or just sit on the ball?
But I will clearly predict one thing...
That anyone and everyone under the age of 45 will not know the term or concept of Social Security when they retire.
And damn good luck to you! That luck you will need.
Here is what will happen.
No more security in social security. Period!
Everyone will have a privatized 401K plan solely in the hands of the banks and financial institutions.
The management fees will be staggering, and hearts will skip several beats with every stock market dive.
There will no longer be a set retirement age. Period!
Your financial advisor will tell you when, and if, you are to retire. Ever.
Retirement will solely depend on your 401K plan status.
Any guaranteed security for the senior citizen will be theory long forgotten.
Some will retire at the age of 66. Others at 76. Most at 86 - 96.
And many at 106. Which means, never.
Retirement age and or retirement opportunity in the future will depend on:
#1, your privatized social security i.e. 401K plan.
#2, market rate of return for that plan.
#3, the health of the US stock market.
#4, bank management fees deducted monthly for your plan.
#5, the percentage of profit banks will make off your plan.
#6, and the big question, can a senior citizen of the age 85 re-enter the work force after their 401K i.e. privatized social security plan becomes depleted of all funds?
This will be the reality of retirement for everyone now at the age of 45, and younger.
The debate over a set or fixed retirement age will become moot.
Retirement age will vary from individual to individual, solely dependent on remaining funds and financial health of the economy and the stock market.
The wealthy will retire early, and the middle classed will retire much later in life.
Your financial advisor will set your retirement age, if you are lucky enough to experience retirement at all before your death.
Welcome to your republican controlled government. Enjoy!
Can they play the game, or just sit on the ball?
But I will clearly predict one thing...
That anyone and everyone under the age of 45 will not know the term or concept of Social Security when they retire.
And damn good luck to you! That luck you will need.
Here is what will happen.
No more security in social security. Period!
Everyone will have a privatized 401K plan solely in the hands of the banks and financial institutions.
The management fees will be staggering, and hearts will skip several beats with every stock market dive.
There will no longer be a set retirement age. Period!
Your financial advisor will tell you when, and if, you are to retire. Ever.
Retirement will solely depend on your 401K plan status.
Any guaranteed security for the senior citizen will be theory long forgotten.
Some will retire at the age of 66. Others at 76. Most at 86 - 96.
And many at 106. Which means, never.
Retirement age and or retirement opportunity in the future will depend on:
#1, your privatized social security i.e. 401K plan.
#2, market rate of return for that plan.
#3, the health of the US stock market.
#4, bank management fees deducted monthly for your plan.
#5, the percentage of profit banks will make off your plan.
#6, and the big question, can a senior citizen of the age 85 re-enter the work force after their 401K i.e. privatized social security plan becomes depleted of all funds?
This will be the reality of retirement for everyone now at the age of 45, and younger.
The debate over a set or fixed retirement age will become moot.
Retirement age will vary from individual to individual, solely dependent on remaining funds and financial health of the economy and the stock market.
The wealthy will retire early, and the middle classed will retire much later in life.
Your financial advisor will set your retirement age, if you are lucky enough to experience retirement at all before your death.
Welcome to your republican controlled government. Enjoy!