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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (21462)7/19/2002 9:56:19 PM
From: Moominoid  Read Replies (1) | Respond to of 74559
 
My impression was that Social Security benefits were pretty good compared to those on offer in Australia (means tested and max of about US100 per week - half the minimum wage) or UK (not means tested and about the same in purchasing power). And given that 3/4 or more of people will end their working life owning a house it doesn't sound too bad to me for the majority of US workers.

From 1 Sep I will start paying into the US Social Security. Maybe if I'm lucky I'll one day be able to claim some benefit.... I hope never to get an Australian government pension though....

David



To: Snowshoe who wrote (21462)7/19/2002 10:01:59 PM
From: TobagoJack  Read Replies (3) | Respond to of 74559
 
Hi Snowshoe,
The folks featured in this article ought to seriously consider retiring overseas. Say, Argentina, Belize, Chile, Dominican Republic, Ecuador, ... Philippines, Thailand, or Zimbabwe.
Chugs, Jay



To: Snowshoe who wrote (21462)7/20/2002 1:41:18 PM
From: LLCF  Read Replies (1) | Respond to of 74559
 
<Retirement looms as many come up short>

How can that be??? I've heard from no less authority than folks on THIS BOARD that savings is WAY understated because it doesn't count stocks... seems that those touting the 'demographic' case for stocks DID have it wrong [also predicted on this board].... demographics are now dictating "SELL BEFORE YOU LOSE YOUR CHANCE TO RETIRE AT ALL".

DAK



To: Snowshoe who wrote (21462)7/21/2002 12:10:15 PM
From: AC Flyer  Read Replies (4) | Respond to of 74559
 
>>Retirement looms as many come up short<<

It's interesting to note that "retirement" did not exist prior to the Great Depression. Social Security was created in 1935 as a way to open up jobs for younger workers. ssa.gov. Since then, the average age of "retirement" in the US has declined from 70 to 62.

The so-called "retirement crisis" is just another media-manufactured non-problem.


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