Most U.S. workers not prepared to retire

[lovuian]

Big News Network.com Saturday 22nd January, 2005 (UPI)

http://feeds.bignewsnetwork.com/?sid=06e7ea8647777dd3
Aging baby boomers have a lot of work to do if they hope to retire at age 65 and nearly three out of four expect to continue working at least part-time.

Forty-five percent of the 2,170 respondents to the Hudson retirement survey said they probably would not have enough financial resources for a comfortable retirement. Seventy-four percent said they planned to work after age 65.

More than half (52 percent) said they expect personal savings to provide the lion's share of their income after they stop working rather than pensions or Social Security. However, 31 percent age 50-64 said Social Security would provide the biggest share of their retirement income.


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And Bush wants to take Social security from these people too!!!

[amazona]

1. they're dreaming if they think they are going to work

The harsh reality for a lot of boomers is that you age out of your skills. The corporations want fresh new graduates with fresh new educations in the latest advances -- especially since the beginner will work for a lot less. 74 percent of old people are not going to be able to work. That is just completely unrealistic. A large number of them will become disabled before age 65. It amazes me how many people I see who become disabled in their 50s and early 60s. Yes, even thin people. Some of my thin friends have died in their 50s so I'm unable to be any under delusions that exercise and good eating habits are a guarantee of anything. People are just in denial here. I've posted it before -- the greeters at WalMart will be the guys who are friends with the person who does the hiring at WalMart. Every old person in America won't be able to get some "eff off" job and be "retired in place." Plenty of people will be unable to work. Others, who are perfectly willing and able to work, simply won't be able to find jobs. No one is standing in line to hire over-50 workers.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72

[lovuian]

2. I agree many Americans are in denial or they are counting

on selling their homes and scaling down but most Baby Boomers will have that plan. Real Estate is going to be interesting in the future!!! If everybody sells homes the Who's going to buy???

[madrchsod]

3. i`m going to work for walmart when i retire

they are about the only business that will hire retires

[amazona]

4. not every retiree in America can work for WalMart

That is the point of my post. Everyone thinks he or she is going to work for WalMart when they retire. Hey, they're big...but they're not that big. Maybe you will and maybe you won't. I sure as heck wouldn't plan on it.

One of my friends actually did manage to get hired at WalMart. She lasted all of 3 weeks. What people don't stop and realize is, when you're old, you're tired. Yes, a few older people still have the energy of youth, and good for them. But to plan on being one of those few is not good planning. You need to make plans based on what is likely to happen, not on what you wish would happen. I mean, if you're going to dream, at least dream of winning the lottery or something.

The conservation movement is a breeding ground of communists
and other subversives. We intend to clean them out,
even if it means rounding up every birdwatcher in the country.
--John Mitchell, US Attorney General 1969-72