US retirement confidence at 23-year low

[Phantasmal]

Why do you suggest to your kids to voluntarily join a program you don't like?

It is better than nothing. My children and myself are able to max out our plans, and we understand the idea of the plan, as the article explained other people aren't able to do so or don't understand hw they operate.

It is better than nothing or SS only.

 

[Phantasmal]

I agree 100% with that but she never explained why she was against the program when I asked so I don't know if its for ideological reasons or because she feels better returns could be had elsewhere. I'm not trying to play a game of gotcha I'm just trying to understand her position.

I answered, go back and look.

 

[Bonestorm]

are you sure about that? most small towns I know of (born and raised in one) the older generation worked until their 80s and not because they had to, but because they wanted to.

Am I sure about what?

 

[cawacko]

I don't know Dung's answer but mine is because people fail or are unable to save enough for retirement using 401K's

Ahhh, you did answer. My bad.

Obviously people are allowed to save as much as they want on their own. Now as far as government backed programs such as a 401k if it doesn't allow people to save enough to retire on should the government allow people to save more within the program or should the program be eliminated?

 

[SmarterthanYou]

Am I sure about what?

that a locality couldn't support the cost of the program.

 

[Phantasmal]

Ahhh, you did answer. My bad.

Obviously people are allowed to save as much as they want on their own. Now as far as government backed programs such as a 401k if it doesn't allow people to save enough to retire on should the government allow people to save more within the program or should the program be eliminated?

Cawacko, the majority of people only have enough to meet the bare necessities, it isn't a matter of not being allowed, it is not making enough money to be able to save, even before taxes.

 

[cawacko]

Cawacko, the majority of people only have enough to meet the bare necessities, it isn't a matter of not being allowed, it is not making enough money to be able to save, even before taxes.

So there should be no government back program then to encourage retirement savings? We should eliminate the 401k program?

 

[Cancel 2016.2]

401ks are a miserable failure.

How are all those unfunded pensions doing?

 

[Phantasmal]

So there should be no government back program then to encourage retirement savings? We should eliminate the 401k program?

There is a program, but you want to change it to a 401K., lol

 

[Cancel 2016.2]

Basically, most people don't participate in 401ks and those that do don't contribute enough. In the end, it's a huge tax subsidy for something that doesn't achieve its intended purpose.

Enlighten us mere mortals on the tax subsidy that is received.

 

[Phantasmal]

How are all those unfunded pensions doing?

Start a thread

 

[cawacko]

There is a program, but you want to change it to a 401K., lol

You can barely live on Social Security so if S.S. and 401k aren't enough how do you argue S.S. alone is enough?

 

[Cancel 2016.2]

Start a thread

dear rana... this thread is about peoples concerns about retirement...

If you don't like the comment, you are free to

1) leave at any point and not return to the thread
2) Not respond
3) Allow the person the question was asked to to respond

Whichever you want dear...

 

[Phantasmal]

dear rana... this thread is about peoples concerns about retirement...

If you don't like the comment, you are free to

1) leave at any point and not return to the thread
2) Not respond
3) Allow the person the question was asked to to respond

Whichever you want dear...

Dear Superfreak

Go piss up a rope

 

[Phantasmal]

You can barely live on Social Security so if S.S. and 401k aren't enough how do you argue S.S. alone is enough?

Increase Social Security

 

[cawacko]

Increase Social Security

If the majority of Americans can't afford to save in a 401K today how is taking more money out of their paycheck for social security going to benefit them?

 

[Bonestorm]

Enlighten us mere mortals on the tax subsidy that is received.

Uh, seriously? Or is this the part where you pretend that electing not to tax things that are otherwise taxable doesn't count as a subsidy?

 

[Phantasmal]

If the majority of Americans can't afford to save in a 401K today how is taking more money out of their paycheck for social security going to benefit them?

It is a program that you have to contribute to. Will you make 401k enrollment mandatory?

 

[cawacko]

It is a program that you have to contribute to. Will you make 401k enrollment mandatory?

But the argument before was people couldn't afford to contribute. Why force people to contribute more money to a program they can't afford to?

I don't believe 401K's should be mandatory. I do believe we should educate people about the benefit of them.

 

[Phantasmal]

It is a program that you have to contribute to. Will you make 401k enrollment mandatory?

The problem with 401K's are multi layered, they are optional, they are risky and most people don't take full advantage.

Right now to participate in a 401K, you also must have SS taxes taken from your paycheck, it is a double whammy, so instead just an increase in SS.