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Bonobo

(29,257 posts) Tue Jan 27, 2015, 04:22 AM Jan 2015

So few of us are saving $$. What future is there for us? [View all]

Americans, and increasingly other countries, even like Japan who ALWAYS saved, simply do not have the wherewithal to do so anymore. We live on borrowed money and borrowed time and there will be decades when we cannot earn money even if we want to (as a result of illness, caring for others, etc.)

We live heedless and powerless to secure our future. If something doesn't change, I don't know what kind of shit we are facing. If there is not some kind of massive societal shift, we face a dark future. So many, many, many, many of us. Especially given our increased lifespan.

I think much of it is seriously beyond our ability to change. Society has changed to one where we do not have the means to save for our decrepitude... what will happen to us all?

Seriously, I want to see what you all think. What will happen to these massive,massive numbers?

Will there be a change?

29 replies

= new reply since forum marked as read

Highlight:

So few of us are saving $$. What future is there for us? [View all] Bonobo Jan 2015 OP

I too am interested. lovemydog Jan 2015 #1

Me too. I don't feel qualified to discuss it terribly well from a realpolitik POV, but... Bonobo Jan 2015 #2

Its breaking down olddots Jan 2015 #3

Ronald Reagan forced Japan to impose a 20% tax on all savings interest, Art_from_Ark Jan 2015 #4

Wuh? I didn't know my savings interest was being taxed! Bonobo Jan 2015 #5

Check it out next time you go into a bank Art_from_Ark Jan 2015 #6

Between that and the demand for Japanese businesses to save 50% of their annual net Bonobo Jan 2015 #7

Here's an explanation of the 20% savings interest tax Art_from_Ark Jan 2015 #8

Well, that was completely clear! ;) n/t Adrahil Jan 2015 #10

Translation: Art_from_Ark Jan 2015 #13

Thanks! Like most Americans, I'm useless if it's not in English.... Adrahil Jan 2015 #15

Thanks, even my wife did not know about it! nt Bonobo Jan 2015 #12

I have saved what used to be considered a nice pile of money historian Jan 2015 #9

We live in a global society that is based on more people doing more things The2ndWheel Jan 2015 #11

My plan is to work untill my death and then to be cremated in a cardboard box Orrex Jan 2015 #14

Let's face it... Bonobo Jan 2015 #16

Or discarded because you're over 50 LiberalEsto Jan 2015 #25

Or you can follow the advice of a Turkish (Communist) poet. (His biography KingCharlemagne Jan 2015 #19

wonderful poetry nt LiberalEsto Jan 2015 #26

+1 Blue_Tires Jan 2015 #28

The advantage of dropping dead at work is: someone's there to deal with it NBachers Jan 2015 #21

You have to have money in the present to save for the future. Octafish Jan 2015 #17

For your reading pleasure (and further consideration): KingCharlemagne Jan 2015 #18

Over time, I've become VERY pessimistic about the future. closeupready Jan 2015 #20

I've been saving for retirement since I was in my teens Ms. Toad Jan 2015 #22

Financial communes. Find neighbors or relatives to trust and pool all your money into one account... randome Jan 2015 #23

For the same reasons, the dollar is doomed. Orsino Jan 2015 #24

By now, everyone has seen this graph: Maedhros Jan 2015 #27

I'm disappointed but not surprised... There are no answers to this scary question. Bonobo Jan 2015 #29