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View Diary: $6.6 Trillion Retirement Savings Deficit Shows 401(k)'s No Replacement for Pensions (47 comments)

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  •  look forward to your next post (5+ / 0-)

    now that you've scared us with this one...

    •  Ditto, I also look forward to your future posts. (2+ / 0-)
      Recommended by:
      Kenneth Thomas, whenwego

      Regarding the fact that "And they aren't saving. At least, they're aren't saving nearly enough to maintain their of living after retirement."

      Please consider this AP headline:  'Dismal' Prospects: 1 in 2 Americans Are Now Poor Or Low Income.'  

      I can't imagine that this will be changing anytime soon.

      Either Social Security benefits need to be raised substantially for the lower three quintiles, or the US government is going to need to provide a heavily subsidized defined benefit plan for this same cohort of American citizens.

      Here's the link to the article.

      That is assuming that we as a nation will not be content to see tens of millions of retirees living under bridges over the next several decades.

      Please consider this problem (depressed wages and poverty in the US) in a future diary.  It is mind-boggling that politicians are calling for austerity at a time that the American populace has never been poorer (at least not in my lifetime).

      And thank you for discussing this very important topic!

      Mollie

      “If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson

      by musiccitymollie on Sat Jan 26, 2013 at 10:35:24 AM PST

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      •  Kenneth, I'm not particularly "keen on" the (0+ / 0-)

        USA Retirement Funds because of a couple of features, but here's a one-minute plus video 'clip' of Senator Harkin discussing his proposed legislature on C-Span's Washington Journal, in case you'd be interested in seeing it.  [Since you referenced it above.]

        Mollie

        “If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson

        by musiccitymollie on Sat Jan 26, 2013 at 06:59:00 PM PST

        [ Parent ]

        •  I apologize about this video clip. It worked (0+ / 0-)

          playing it directly from my video clip library at C-Span.

          But, in this diary, I first got no video, but some audio.  Then I got video, but no audio.  Go figure, LOL!

          I'll check out and re-post it IF it works correctly.  Again, my apologies.

          Mollie

          “If a dog won’t come to you after having looked you in the face, you should go home and examine your conscience.” -- Woodrow Wilson

          by musiccitymollie on Sat Jan 26, 2013 at 07:06:33 PM PST

          [ Parent ]

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