I am not in the US but will be in the same boat except no family so for me there will be one way out of the situation.
Comment on [deleted]
taanegl@lemmy.world 6 months ago
Oh wow, it’s like the pension system in the US is broken and now, instead of remedying this issue, the finance sector, who btw gamed politicians to “diversify” the pension money, are now saying that what they did isn’t enough, that it isn’t capable of withstanding recession, rent hikes and that old, infirm people will be relying on family to take care of them.
SOUNDS LIKE THE LONG CON TO ME.
ryathal@sh.itjust.works 5 months ago
It’s more nobody wants to actually save money. Pension funds were massively underfunded, people didn’t self fund with ira/401k.
Chapelgentry@lemmynsfw.com 5 months ago
Yeah, I don’t think it’s that. I agree people don’t save, and I’m sure there are a myriad of reasons for that, from bills to bad financial planning, but largely saving for retirement is a lost cause. I’ve put 15% in my retirement account since I was 19 and am projected to be short in retirement because the market average return is so close to inflation that my money won’t appreciate significantly enough to retire. Additionally, if I wanted the returns needed to make money on my retirement account I would need to invest in a disproportionate amount in high risk stocks, which isn’t sustainable.
I’ve resigned myself to working until I die with my retirement going to fund my childrens’ 401ks.
Patches@sh.itjust.works 6 months ago
Except the family can’t afford to help their infirm parents. Where tf do you think we’re going to come up with the money for that? We are already paycheck to paycheck
Asafum@feddit.nl 5 months ago
And where are they going to live when I can’t even afford to buy my own home let alone one large enough for all of us?
Oh that’s right, that’s a me problem and we live in a society of “I got mine (and yours) fuck you.”
:/
Facebones@reddthat.com 5 months ago
Democrats out here even IRL claiming they aren’t right wing then calling me a communist for thinking a 40 hour work week should be enough to guarantee a basic/entry level of housing like an efficiency or a roomie situation.