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Post by ECE Prof on Oct 27, 2022 19:50:31 GMT
‘We are facing a retirement crisis in our country,’ says head of TIAA, as ‘40% of Americans run the risk of running out of money’
Of course, several trillions of market cap have been wiped out. So, her number of 4 trillions gaps could be correct. I am not sure, if she includes or excludes the SS income. In my neighborhood, there are many who live with SS income alone.
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Post by Capital on Oct 27, 2022 20:13:54 GMT
We need the infrastructure bill to pass. We need better bridges for all the future homeless retired folks to live under.
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Post by ECE Prof on Oct 27, 2022 20:36:48 GMT
We need the infrastructure bill to pass. We need better bridges for all the future homeless retired folks to live under. There is a law about this in Cookeville. This was enacted when many homeless folks showed up with signs along our two main roads (Jefferson and Willow) during the pandemic days. There was a backlash from some business people on this law. So, they changed it to just the bridges and roads connecting I40. However, you can see these people in roads leading up to Walmart and hidden from the main roads. Laws simply do not work. |
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Post by ECE Prof on Oct 27, 2022 21:44:11 GMT
"Many of the tradesmen I know work like this. Cash and bartering is the accepted currency." Well and alive in Cookeville. We pay by check, and we have to pay more for lawn mowing. But, some of my neighbors pay cash that save them 20%. Some people specifically ask for cash, and after the first time, they would not come back to work for us.
The OP is about the short fall of retirment benefits.
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Post by habsui on Oct 27, 2022 22:57:46 GMT
We need the infrastructure bill to pass. We need better bridges for all the future homeless retired folks to live under. And blue tarp manufacturers.. |
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Post by richardsok on Oct 27, 2022 23:04:59 GMT
I've been reading about retirement savings crises since I was in high school. Here in Florida there's hardly a supermarket without old guys stocking shelves or a town without its trailer park housing. There are chauffering gigs at auto dealerships. Others house sit for absentee snowbirds or part time odd jobs at condo communities. People manage here. They get by in areas where society is relatively civil.
The oldsters I feel sorry for are the ones in the big dystopian northern cities where they contend with the cold, trash, noise, crowding, and ever-present danger of violence in the streets.
A mobile home lifestyle is no great prize, but I see these people sitting out in shorts and flipflops on their lawnchairs at dusk, chatting amiably and drinking beer. They're not in fear and they're not cold. The poorest get around on big tricycles, often with a little cart attached behind. The Walmart home delivery service for groceries is a big help to many, I hear.
It could be worse.
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Post by bb2 on Oct 28, 2022 1:29:52 GMT
TIAA talking it's book.
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Post by Chahta on Oct 28, 2022 1:39:40 GMT
We need the infrastructure bill to pass. We need better bridges for all the future homeless retired folks to live under. Thanks for the laugh Capital.  "And blue tarp manufacturers.." You too habsui . |
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Post by ECE Prof on Oct 28, 2022 1:47:07 GMT
Somehow, the more I thought about, while this may be true, there is an ulterior motive here, and it is a scare tactic to get annuity business for TIAA.
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Post by retiredat48 on Oct 28, 2022 4:55:07 GMT
I've been reading about retirement savings crises since I was in high school. Here in Florida there's hardly a supermarket without old guys stocking shelves or a town without its trailer park housing. There are chauffering gigs at auto dealerships. Others house sit for absentee snowbirds or part time odd jobs at condo communities. People manage here. They get by in areas where society is relatively civil. The oldsters I feel sorry for are the ones in the big dystopian northern cities where they contend with the cold, trash, noise, crowding, and ever-present danger of violence in the streets. A mobile home lifestyle is no great prize, but I see these people sitting out in shorts and flipflops on their lawnchairs at dusk, chatting amiably and drinking beer. They're not in fear and they're not cold. The poorest get around on big tricycles, often with a little cart attached behind. The Walmart home delivery service for groceries is a big help to many, I hear. It could be worse. +1. R and I live near each other. (I just didn't realize that he has observed me sitting outside in the evenings!)  R48 |
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