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In reply to the discussion: Reuters: Why you may retire in poverty [View all]woo me with science
(32,139 posts)37. You can't plan on not being a burden if it is impossible to
live so that you have something in reserve. Whether you plan to leave it to your children or bury it in a park, the point is that more and more people have NOTHING left over...or they are crushed by debt. Life happens. Medical emergencies happen. You become a "burden" despite your best intentions. The restructuring that the one percent have perpetrated on our financial system, our commerce, our taxation, our wages and cost of living, our medical and banking systems has driven millions into poverty. It is unconscionable, in a country with the wealth of the United States, that living and then dying penniless are becoming so commonplace.
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The headline doesn't sound so bad if you say it in a Jeff Foxworthy voice...
Odious justice
Aug 2012
#3
I DO BEGRUDGE CONGRESS THEIR PENSIONS! They are the reason most of us will spend...
Raster
Aug 2012
#9
Unfortunately, Congress will not consider the "big picture." It is PAINFULLY OBVIOUS we cannot...
Raster
Aug 2012
#12
Ok, you're right. Go far into debt and live well beyond your means, and you'll be just fine
cbdo2007
Aug 2012
#49
Sometimes people do that, but end up broke anyway due to bad luck or health issues
TwilightGardener
Aug 2012
#23
For seniors: How does a reverse mortgage work if your mortgage is underwater?
tclambert
Aug 2012
#22
How can the head of the National Institute for Retirement Security say this?
BeyondGeography
Aug 2012
#28
The only part of the post I don't understand is people over 50 owing more than
virgogal
Aug 2012
#29
That's why I used the phrase "a good portion" because I certainly couldn't include everyone.
virgogal
Aug 2012
#32
I'm over 50. Owned my place for almost 20 years now and the recent appraisal shows a 60% devaluation
riderinthestorm
Aug 2012
#40
You purchased a home and improved it and you are underwater after almost 20 years of paying on it?
NNN0LHI
Aug 2012
#42
We have a working farm and have refinanced once to make desperately overdue improvements
riderinthestorm
Aug 2012
#44