Study: 83% of Americans will have to work into their 70s in order to afford to retire

Comments

• Fredselfish@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Retire? We going have to work until we die because we won’t be getting any social security.

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  • huginn@feddit.it ⁨4⁩ ⁨months⁩ ago

    Don’t believe that horseshit “we don’t have money for Social Security” conservative talking point.

    1. We have money just not the way it’s currently funded
    2. Cutting social security is political suicide

    The only way social security goes away is if conservatives think they can win an election without old people. Fat chance.

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    • GoddessNoAi@lemmynsfw.com ⁨4⁩ ⁨months⁩ ago

      Republicans will take away social security, blame Democrats, and their voters will believe them.

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    • givesomefucks@lemmy.world ⁨4⁩ ⁨months⁩ ago

      The contribution limit was set decades ago when wealth inequality wasn’t as bad of an issue

      If we got rid of the cap, we’d have no problem finding it. And the people above the cap, just don’t need the money anyways.

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    • jettrscga@lemmy.world ⁨4⁩ ⁨months⁩ ago

      All they have to do is take it away from future generations while allowing the current elderly generation keep it.

      The old voters stay happy and the politicians who screw everyone over are long gone by the time the implications hit.

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    • shalafi@lemmy.world ⁨4⁩ ⁨months⁩ ago

      No lie. I asked a financial advisor when I was in my late 20s, almost 30-years ago.

      “You’re getting your Social Security or there will be riots in the streets. Plan accordingly.”

      In 1989 we high school seniors said we wouldn’t get Social Security. We will, no matter what.

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  • Maggoty@lemmy.world ⁨4⁩ ⁨months⁩ ago

    That’s basically what this headline means. Everyone thinks they’re going to make the long haul but half of an age cohort dies before 70.

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• Maggoty@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Alternate headline, “Half Of All Americans Will Die Without Retiring”

  Second line they use for the follow up punch, " A Quarter Will Die Within 7 Years Of Retirement."

  Seriously, go look at an age demographic pyramid. Half of a cohort dies in the 60-65 area. And it drops precipitously from there until you’re looking at about 2 percent making it to 100.

  Capitalists don’t want you retiring. If you’re not making them a widget then they see no use for you. The economically minded might point out that retirees are some of our biggest spenders. But the wealthy elite don’t care. They only see a pool of money they want in their hands. Dying at work is the end they want for their workers. Especially if there’s a pension.

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  • Krauerking@lemy.lol ⁨4⁩ ⁨months⁩ ago

    Dying at work is the end they want for their workers. Especially if there’s a pension.

    I see you have also read Boeing’s retirement study and plan.

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    • Maggoty@lemmy.world ⁨4⁩ ⁨months⁩ ago

      In released news the DOJ might actually criminally charge the company for MCAS. But only because the company couldn’t keep to the deferred prosecution agreement. All they had to do was institute an Ethics program.

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• protist@mander.xyz ⁨4⁩ ⁨months⁩ ago

  Sure, times are hard, but so is science journalism, apparently. Where could medium.com possibly get that this study says that headline. This study asked people of all ages what they predict is going to happen. There is no scientific basis for that headline, this is entirely based on a public opinion poll.

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  • Maggoty@lemmy.world ⁨4⁩ ⁨months⁩ ago

    SSA is moving to 67 so that’s going to figure in a big way for most Americans.

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  • newthrowaway20@lemmy.world ⁨4⁩ ⁨months⁩ ago

    It is medium, after all.

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  • ProbablyBaysean@lemmy.ca ⁨3⁩ ⁨months⁩ ago

    have you heard of the “wisdom of crowds”? en.wikipedia.org/wiki/The_Wisdom_of_Crowds

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  • half_built_pyramids@lemmy.world ⁨4⁩ ⁨months⁩ ago

    I don’t have many authors blocked on medium, and I didn’t remember why I blocked this one, but… There’s no but I guess.

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• Ticklemytip@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Well thankfully I expect to die before I retire. As Homer Simpson once said “You tried, and failed miserably. The lesson is, never try.” Unless I hit the lottery which I almost never play. Retirement would be miserable for me. Basically just waiting to die already. My grandparents could barely afford to survive. My parents are almost there and are the same.

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• Drusas@kbin.run ⁨4⁩ ⁨months⁩ ago

  My disability insurance (private, not public) specifically ends when I'm 60 (or before, if they can find a reason to disqualify me), so it's basically built in that I won't be able to retire.

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• givesomefucks@lemmy.world ⁨4⁩ ⁨months⁩ ago

  If you’re less than 62 this year, you have to wait till 67 to get full Social Security

  faq.ssa.gov/en-US/Topic/article/KA-01885

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  • ohlaph@lemmy.world ⁨4⁩ ⁨months⁩ ago

    When did this change?

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    • givesomefucks@lemmy.world ⁨4⁩ ⁨months⁩ ago

      2022, it wasn’t publicized much, so most still haven’t heard of it.

      Would be a great rallying cry for young voters if Dems were trying to fight it and lower it back down after removing the cap.

      But donors dont want that

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• rez_doggie@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Thanks boomers

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• InternetUser2012@midwest.social ⁨4⁩ ⁨months⁩ ago

  I’ll work until I’m dead, I’ll never be able to retire. Woohoo…

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• baldingpudenda@lemmy.world ⁨4⁩ ⁨months⁩ ago

  I’m pretty sure that means that most Americans will die working

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  • Maggoty@lemmy.world ⁨4⁩ ⁨months⁩ ago

    Yup. People need to stand up and demand better work life balance and early retirement options. Half of an age cohort dies by 70. SSA is moving to 67 which means there’s a large percentage of people who will get Social Security, and immediately die. We’re living in the dystopia.

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• 3volver@lemmy.world ⁨4⁩ ⁨months⁩ ago

  This is very, very bad for the future outlook of our country. It’s real, we’re in it. Something significant is going to have to change soon.

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• HubertManne@moist.catsweat.com ⁨4⁩ ⁨months⁩ ago

  My math says I will work till I can't and then will have to accept a lower quality of life for whats left and my wife and I end up on medicaid in a nursing home.

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  • Drusas@kbin.run ⁨4⁩ ⁨months⁩ ago

    Medicare, probably.

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    • protist@mander.xyz ⁨4⁩ ⁨months⁩ ago

      Medicare only pays for short-term skilled nursing rehabilitation meaning you need something like physical therapy after a major surgery. For long-term care because you’re just unable to take care of yourself, you’d need Medicaid or to pay several thousand/month out of pocket.

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  • Krauerking@lemy.lol ⁨4⁩ ⁨months⁩ ago

    Damn… Lucky.

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• doingthestuff@lemmy.world ⁨4⁩ ⁨months⁩ ago

  80s probably. They’ll put us in Tokyo style bunk rooms and one meal a day if we aren’t the elite.

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• cyberpunk007@lemmy.ca ⁨4⁩ ⁨months⁩ ago

  I kind of assumed it was till we all died at this point. Whether that’s before or after 70…

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• Yawweee877h444@lemmy.world ⁨4⁩ ⁨months⁩ ago

  F all this nonsense. I plan to die of cancer or something way before that lol. WTF would I want to be 70 in this capitalist hellscape

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• Jumpingspiderman@lemmy.world ⁨4⁩ ⁨months⁩ ago

  Well, I worked until i was 69, so I wasn’t far off

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