A Record Low for Retirement Plans

A Record Low for Retirement Plans

There are 38 comments on the abcnews.go.com story from Mar 19, 2013, titled A Record Low for Retirement Plans. In it, abcnews.go.com reports that:

Despite an improving economy and a boost for most 401k plans with the recent rise in the stock market, Americans' confidence in their retirement has fallen to a new low.

Nearly 60 percent of workers have less than $25,000 in total household savings and investments, according to today’s report by the Employee Benefit Research Institute. Only 13 percent of those surveyed said they were very confident about retirement, while 28 percent said they had no confidence they’ll be able to retire comfortably. That’s the highest level in 23 years of annual reports. In the past five years, the percentage of workers saving for retirement fell from 65 percent to 57 percent.

Join the discussion below, or Read more at abcnews.go.com.

First Prev
of 2
Next Last

Since: Mar 09

The Left Coast

#1 Mar 19, 2013
The logical solution is to raise taxes and give senior citizens more money.
Makes sense

Evansville, IN

#2 Mar 19, 2013
The logical solution is to the required collateral of banks so the savings are worth more and those people get some interest on their savings.

Our taxes subsidize the banks with our taxes and the banks refuse to pay interest on our deposits. Moreover they gamble with OUR deposits. After churches that don't pay taxes, banks are this nation's holy cow.

“Open your eyes”

Since: Sep 09

Central Florida

#3 Mar 19, 2013
Why would anyone want to invest in this market? It's a rigged market.

Look, if they can rig the LIBOR rates, the markets themselves is nothing to manipulate.

Now with Cyprus taking 10% of all savings accounts for those making over $25.8k/yr to give to the big European banks.

Why would people have confidence to invest.

Here is a novel idea. I remember it and I am only 37. The idea of putting money away in a savings account and making interest on that savings. Hence the incentitive to to save. That idea? Gone.

How much do you get now?$0.18 per $1000? That's shit. So why save? Why invest in a rigged market that allows big financial firms preferred stocks and micro second trades?

Since: Mar 09

The Left Coast

#4 Mar 19, 2013
But MSNBC says the economy is doing great, the stock market is way up, anybody can make lots of money now.
Makes sense

Evansville, IN

#5 Mar 19, 2013
Kahoki wrote:
Why would anyone want to invest in this market? It's a rigged market.
Look, if they can rig the LIBOR rates, the markets themselves is nothing to manipulate.
Now with Cyprus taking 10% of all savings accounts for those making over $25.8k/yr to give to the big European banks.
Why would people have confidence to invest.
Here is a novel idea. I remember it and I am only 37. The idea of putting money away in a savings account and making interest on that savings. Hence the incentitive to to save. That idea? Gone.
How much do you get now?$0.18 per $1000? That's shit. So why save? Why invest in a rigged market that allows big financial firms preferred stocks and micro second trades?
AMEN. Some banks are giving $0.09% in interest. It's a complete joke, a way to force people to GAMBLE in the RIGGED stock market.

The bankssters, in theory, would have no money to loan, if they didn't have depositors. The depositors should be the OWNERS of the banks. The DEPOSITORS should be making the GREATEST PROFITS.

The system is RIGGED and We the People need to legislate RULES for the banksters.

It won't happen without campaign finance reform. Citizens United sealed our fate. All we can do now is try to spread the word and VOTE for people who care about the common people, not the billionaire banksters that profit with OUR money off-shoring OUR good jobs.

We need GOOD GOVERNMENT. We need to get rid of the do-nothing Congress in 2014!
Makes sense

Evansville, IN

#7 Mar 19, 2013
RustyS wrote:
But MSNBC says the economy is doing great, the stock market is way up, anybody can make lots of money now.
It is doing great, for the haves. We're continuing to rob from the poor to pay the rich.

BTW I'm okay because I know the system is rigged and I'm diversified, but I don't want to live in a Banana Republic surrounded by angry desperate diseased poor people and I don't want my family to live in such a country. The constant chants to deregulate caused the mess. We the People need to start REGULATING again.

“Open your eyes”

Since: Sep 09

Central Florida

#8 Mar 19, 2013
RustyS wrote:
But MSNBC says the economy is doing great, the stock market is way up, anybody can make lots of money now.
I personally expect the market to hit 16k. Then, it will completely collapse under it's own weight.

The reason for this increase to 16k is the debasing of the currency on a global scale. With the Fed pumping in billions per month to the big financial firms, the rigged market, IMO, will hit 16k.

But, the economy will not grow more than maybe 2% at best. It is all based on debasing the currency. Even though that causes hyper inflation, we will not really notice it because it is on a global scale. Japan, China, EU, Russia, India, etc.. are all doing the exact same thing.

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#9 Mar 19, 2013
Kahoki wrote:
Why would anyone want to invest in this market? It's a rigged market.
Look, if they can rig the LIBOR rates, the markets themselves is nothing to manipulate.
Now with Cyprus taking 10% of all savings accounts for those making over $25.8k/yr to give to the big European banks.
Why would people have confidence to invest.
Here is a novel idea. I remember it and I am only 37. The idea of putting money away in a savings account and making interest on that savings. Hence the incentitive to to save. That idea? Gone.
How much do you get now?$0.18 per $1000? That's shit. So why save? Why invest in a rigged market that allows big financial firms preferred stocks and micro second trades?
You must admit that the Federal Reserve caring about unemployment above inflation is an improvement?

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#10 Mar 19, 2013
Kahoki wrote:
<quoted text>
I personally expect the market to hit 16k. Then, it will completely collapse under it's own weight.
The reason for this increase to 16k is the debasing of the currency on a global scale. With the Fed pumping in billions per month to the big financial firms, the rigged market, IMO, will hit 16k.
But, the economy will not grow more than maybe 2% at best. It is all based on debasing the currency. Even though that causes hyper inflation, we will not really notice it because it is on a global scale. Japan, China, EU, Russia, India, etc.. are all doing the exact same thing.
Don't know about 16K; but it will go higher, because of the German push for European austerity uber alles.
Makes sense

Evansville, IN

#11 Mar 19, 2013
Kahoki wrote:
<quoted text>
I personally expect the market to hit 16k. Then, it will completely collapse under it's own weight.
The reason for this increase to 16k is the debasing of the currency on a global scale. With the Fed pumping in billions per month to the big financial firms, the rigged market, IMO, will hit 16k.
But, the economy will not grow more than maybe 2% at best. It is all based on debasing the currency. Even though that causes hyper inflation, we will not really notice it because it is on a global scale. Japan, China, EU, Russia, India, etc.. are all doing the exact same thing.
The banks are not lending. So, for now anyway, it doesn't matter if the FED is pumping them with paper. It's just a security blanket. That said, as the economy gets better, the currency should be slowly taken out of the FED.
idiots united

Minneapolis, MN

#12 Mar 19, 2013
RustyS wrote:
The logical solution is to raise taxes and give senior citizens more money.
You're a dreamer. They are more likely to take money from seniors than from the very very very rich.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#13 Mar 19, 2013
Kahoki wrote:
Why would anyone want to invest in this market? It's a rigged market.
Look, if they can rig the LIBOR rates, the markets themselves is nothing to manipulate.
Now with Cyprus taking 10% of all savings accounts for those making over $25.8k/yr to give to the big European banks.
Why would people have confidence to invest.
Here is a novel idea. I remember it and I am only 37. The idea of putting money away in a savings account and making interest on that savings. Hence the incentitive to to save. That idea? Gone.
How much do you get now?$0.18 per $1000? That's shit. So why save? Why invest in a rigged market that allows big financial firms preferred stocks and micro second trades?
Rigged or not, it's not that hard to make money in the stock market. The key is don't get greedy.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#14 Mar 19, 2013
Kahoki wrote:
<quoted text>
I personally expect the market to hit 16k. Then, it will completely collapse under it's own weight.
The reason for this increase to 16k is the debasing of the currency on a global scale. With the Fed pumping in billions per month to the big financial firms, the rigged market, IMO, will hit 16k.
But, the economy will not grow more than maybe 2% at best. It is all based on debasing the currency. Even though that causes hyper inflation, we will not really notice it because it is on a global scale. Japan, China, EU, Russia, India, etc.. are all doing the exact same thing.
So a smart investor would have got into the market after the crash in '08 and would be preparing to get out around the 15,000 point.

Those who get greedy will get burned.

“Headed toward the cliff”

Since: Nov 07

Tawas City, Michigan

#15 Mar 19, 2013
60% of Americans have less than $25k?

I bet it's closer to 90% if you count their outstanding mortgage debt.

SO glad I stuck it out for 20 years.
idiots united

Minneapolis, MN

#16 Mar 19, 2013
WeTheSheeple wrote:
<quoted text>
Rigged or not, it's not that hard to make money in the stock market. The key is don't get greedy.
They key is if you have money you could not use at the moment. I need all my money to pay off 10% interest which has virtually no risdk and guaranteed 10% return, I am buying my own debt.
Far Away

Anchorage, AK

#17 Mar 19, 2013
Makes sense wrote:
The logical solution is to the required collateral of banks so the savings are worth more and those people get some interest on their savings.
Our taxes subsidize the banks with our taxes and the banks refuse to pay interest on our deposits. Moreover they gamble with OUR deposits. After churches that don't pay taxes, banks are this nation's holy cow.
Well, you finally removed all doubt that you're the dimmest bulb in the room. Ben Bernanke is the reason banks aren't paying interest on savings. He has printed over a trillion dollars these last 4+ years (monetizing the debt) and keeping the prime lending rate artificially low, which in turn keeps interest on savings low.
omg

Abilene, TX

#18 Mar 19, 2013
how can anyone retire when we who work have to pay for 5 who dont work. enjoy your free barry cash and free barry phone. oh and have another free beer with your ebt cards.
ill try and work some overtime so you pukes can enjoy more "free" stuff..........
Eleanor

Vernon Hills, IL

#19 Mar 19, 2013
omg wrote:
how can anyone retire when we who work have to pay for 5 who dont work. enjoy your free barry cash and free barry phone. oh and have another free beer with your ebt cards.
ill try and work some overtime so you pukes can enjoy more "free" stuff..........
That's right - put the BLAME on someone else.

There's always been people on the dole and there always will be.

But what about you?? Who is going to GIVE you anything? NOBODY!!

You can either CRY in your coffee OR you can cut back on your expenses and start SAVING some of your hard earned money.

So much easier to COMPLAIN about everyone else. So much harder to DO something about it.
Sheik Yerbouti

Richmond, IN

#20 Mar 19, 2013
The record low on retirement plans should come as no surprise for anyone. Workers wagers have shrunk over the years and today many are not making enough to save anything let alone for retirement. We are witnessing the greatest transfer of wealth upward in human history. Just about every poster on this thread has made some legitimate observations. It IS a rigged system. We have gotten to a point where a sizable portion of young people no longer believe that hard work will help them get ahead and that's sad indeed!
wtf

Abilene, TX

#21 Mar 19, 2013
Eleanor wrote:
<quoted text>
That's right - put the BLAME on someone else.
There's always been people on the dole and there always will be.
But what about you?? Who is going to GIVE you anything? NOBODY!!
You can either CRY in your coffee OR you can cut back on your expenses and start SAVING some of your hard earned money.
So much easier to COMPLAIN about everyone else. So much harder to DO something about it.
what rock have you been living under? i work hard i dont blow my money. i dont even eat out. you must be one of the low lifes who think we the people owe you something. well we dont owe you sheet. get a job! meanwhile enjoy your free internet paid by hard working tax payers.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 2
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Fitness Discussions

Title Updated Last By Comments
News Anne Murray wants you to know she's doing just ... Aug 5 Mohammid 1
The is no better fitness regiment than sex Aug 1 Focus 1
News Razorblades and baby formula: Inside the shady ... Jul '17 Shop 1
News Personal Trainers Reveal the Best Products to R... (Sep '16) Jun '17 AmPieJam UncleSam 5
News Who is Reality Winner? Details about the woman ... Jun '17 AmPieJam UncleSam 5
News What's up Today (Jul '08) Apr '17 dlsanford 10
News 'Poseidon Adventure' meets 'Breakfast Club' in ... Apr '17 gfhjhgfj 1
More from around the web