Stop coddling the super-rich, Warren Buffett says

[sly_wolf 199]

perhaps you should talk to your state/local governments about that then.

The're broke like much of the country and I dont have any direct communication with God like some members of congress do.

[Obama 2012 1,714]

The're broke like much of the country and I dont have any direct communication with God like some members of congress do.

Andrew Cuomo is God?

[Mr. Big Dog 10,747]

Most boomers can pay for their own damn retirement and healthcare. I'm sure you see them every day - playing golf and frolicking in Florida's azure blue waters and silky white sands.

I'm sure I have. And I'm sure I have seen them in one of the many trailer parks reserved for the 55+ crowd around here. You keep stressing that the 65+ crowd has an average net worth of $250K. That's true. It's an accurate figure. But that's an average. It doesn't tell you how that net worth is distributed. Take 100 people. Say 90 of them have a net worth of $25,000 each. And the other 10 have a net worth of $2,275,000.00 each. Voilà. This group of 100 people has an average net worth of $250,000.00. What does that say about the ability of 90% of that group - the vast majority - to take care of their own retirement, though? Right. Nothing.

Workers Fall Short of Retirement Savings Goals

By Emily Brandon

Posted: December 16, 2010

The typical American estimates that they will need to save a median of $300,000 to retire comfortably. But most retirement investors say their nest egg is currently comprised of a median of just $20,000, or about 6.7 percent of their retirement goal, according to a recent Wells Fargo survey of 1,756 middle class households earning less than $100,000 annually.

Workers in their 50s set the lowest retirement goal for themselves of any age group in the survey: $200,000. They currently have a median of $29,000 saved, or about 14.5 percent of their goal. The typical 50-something expects their retirement to last nearly two decades (19 years). The amount of savings these investors currently have will provide them with a retirement income of about $190 a month over 20 years, assuming a 5 percent rate of return annually.

Individuals in their 60s have a median retirement goal of $300,000, but say they currently have just 10 percent or $30,000 tucked away for retirement. Employees in their 30s set the highest retirement savings goal of any age group: $400,000. They currently have 5 percent of that or $20,000 saved.

...

The survey respondents were also asked to estimate how much they would spend on health care throughout retirement. The median anticipated out-of-pocket health care spending was $32,300, which is significantly more than the typical worker has saved for retirement. All of the age groups queried say health care is likely to cost more than they currently have saved except for 60-somethings, who have saved barely enough to cover their expected health care costs.

Unsurprisingly, most of the employees surveyed (72 percent) plan to continue to work in retirement, either because they need the money (39 percent) or because they want to (33 percent), the survey found. Most middle class Americans (63 percent) also say they are planning to rely on Social Security as a major source of retirement income.

[sly_wolf 199]

Andrew Cuomo is God?

No, but they all like to think they are.

[I AM NOT THAT GUY 5,715]

This nonsense is really becoming as stale as you, old man.

How many times have we heard that before? Well, just before it happens somewhere else.

[mawilson 2,133]

You keep stressing that the 65+ crowd has an average net worth of $250K. That's true. It's an accurate figure. But that's an average. It doesn't tell you how that net worth is distributed. Take 100 people. Say 90 of them have a net worth of $25,000 each. And the other 10 have a net worth of $2,275,000.00 each. Voilà.

Is that the real distribution though? Or are you just throwing out a hypothetical?

[Mr. Big Dog 10,747]

Is that the real distribution though? Or are you just throwing out a hypothetical?

That's a hypothetical but the survey I posted with my comment would appear to suggest that that hypothetical is much closer to reality than your equally hypothetical assertion that most retirees "can pay for their own damn retirement and healthcare".

[I AM NOT THAT GUY 5,715]

That's a hypothetical but the survey I posted with my comment would appear to suggest that that hypothetical is much closer to reality than your equally hypothetical assertion that most retirees "can pay for their own damn retirement and healthcare".

If they can't, they can always move in with family.

[Mr. Big Dog 10,747]

If they can't, they can always move in with family.

Sure, I hear that's what they do in third world countries. Back to the future!

[I AM NOT THAT GUY 5,715]

Sure, I hear that's what they do in third world countries. Back to the future!

They do it here, as well, especially among immigrant families.

[Bad_Daddy 2,209]

FDR was a criminal piece of ####### and tried to be a Tyrant.

We don't need garbage like that anywhere near the White House.

+1

He was a Bolshevik lover and murderer.

[Zero Sum 305]

We need a Bolshevik and toilet reference for the paranoid-inclined.

[Bad_Daddy 2,209]

[

We need a Bolshevik and toilet reference for the paranoid-inclined.

Why do you even bother to post on here seeing how you have nothing to say other than trying to post something humorous that turns out to be moronic.

Better yet try reading up on something like FDR and how he signed the death warrant for hundreds of thousands of innocent people before you post.

Learning isn't such a bad thing...try it for once.

[Zero Sum 305]

[

Why do you even bother to post on here seeing how you have nothing to say other than trying to post something humorous that turns out to be moronic.

Better yet try reading up on something like FDR and how he signed the death warrant for hundreds of thousands of innocent people before you post.

Learning isn't such a bad thing...try it for once.

And there you are replying.

[Trumplestiltskin 5,791]

[

Why do you even bother to post on here seeing how you have nothing to say other than trying to post something humorous that turns out to be moronic.

Better yet try reading up on something like FDR and how he signed the death warrant for hundreds of thousands of innocent people before you post.

Learning isn't such a bad thing...try it for once.

Why do you wonder why people post on here, when the content you post hardly constitutes the epitome of respectful or rational discourse?

Why you do bother to post on here?