The more than 2,500 Americans surveyed said certain factors are most likely to throw them off course — for example, an increasing cost of living that will make it harder to save and the U.S. government making significant changes to the retirement system.
The latter worry comes as both retirees and workers expect to rely on three sources of income in their golden years: Social Security, workplace retirement savings plans and personal retirement savings or investments, the research found.
So people can no longer retire because 18 months of inflation has wiped out 43 yrs of retirement planning?
Unless the way it’s funded changes, Social Security will eventually collapse, just like every other Ponzi Scheme in history. Medicare too.
But every serious attempt to restructure these plans from Ponzi Schemes to financially sound retirement and medical plans is met with media and political propaganda and hysteria so I guess we’ll just play these games and watch them collapse and then shake our heads and blame whichever party we don’t like.
By the way, removing the cap on income is not a serious attempt to fix Social Security, so don’t even go there.
Their plans of having no savings at retirement which is what it seems like is the endgame for the majority of Americans?
> particularly as wage growth now outpaces inflation growth
Only for some segments of the population.
Pull the bandaid off quick! The illusion needs to be corrected so that we can plan accordingly, making this smoke and mirrors is not good
Voting for a facist will only guarantee you will never see one! Social Security is NOT an entitlement but paid for all your working life by your FICA taxes!
I’m concerned about my retirement as well. Retired at 58 due to a series of strokes but was in a fortunate position that I’d saved and invested. Thought I’d accumulated enough equity to fund my retirement but the inflation rate killed me. Still have seven figures invested plus the residence but costs are outpacing the high end estimate. Certainly not what I envisioned as I thought I had planned for retirement
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Last year, Americans’ confidence that they would have enough money to live comfortably in retirement [fell the most](https://www.cnbc.com/2023/05/31/as-retirement-confidence-drops-4-key-decisions-can-help-experts.html) since the global financial crisis.
[New research](https://www.ebri.org/media/press-releases/content/results-from-the-2024-retirement-confidence-survey-find-workers–and-retirees–confidence-has-not-recovered-from-the-significant-drop-seen-in-2023–but-majorities-remain-optimistic-about-retirement-prospects) shows both workers’ and retirees’ confidence has not recovered. But some signs of optimism have emerged, particularly as wage growth now outpaces inflation growth, according to the Employees Benefit Research Institute and Greenwald Research.
The more than 2,500 Americans surveyed said certain factors are most likely to throw them off course — for example, an increasing cost of living that will make it harder to save and the U.S. government making significant changes to the retirement system.
The latter worry comes as both retirees and workers expect to rely on three sources of income in their golden years: Social Security, workplace retirement savings plans and personal retirement savings or investments, the research found.
More: [https://www.cnbc.com/2024/04/26/americans-worry-changes-to-retirement-system-will-upend-their-plans.html](https://www.cnbc.com/2024/04/26/americans-worry-changes-to-retirement-system-will-upend-their-plans.html)
So people can no longer retire because 18 months of inflation has wiped out 43 yrs of retirement planning?
Unless the way it’s funded changes, Social Security will eventually collapse, just like every other Ponzi Scheme in history. Medicare too.
But every serious attempt to restructure these plans from Ponzi Schemes to financially sound retirement and medical plans is met with media and political propaganda and hysteria so I guess we’ll just play these games and watch them collapse and then shake our heads and blame whichever party we don’t like.
By the way, removing the cap on income is not a serious attempt to fix Social Security, so don’t even go there.
Their plans of having no savings at retirement which is what it seems like is the endgame for the majority of Americans?
> particularly as wage growth now outpaces inflation growth
Only for some segments of the population.
Pull the bandaid off quick! The illusion needs to be corrected so that we can plan accordingly, making this smoke and mirrors is not good
Voting for a facist will only guarantee you will never see one! Social Security is NOT an entitlement but paid for all your working life by your FICA taxes!
I’m concerned about my retirement as well. Retired at 58 due to a series of strokes but was in a fortunate position that I’d saved and invested. Thought I’d accumulated enough equity to fund my retirement but the inflation rate killed me. Still have seven figures invested plus the residence but costs are outpacing the high end estimate. Certainly not what I envisioned as I thought I had planned for retirement