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Study: 83% of Americans will have to work into their 70s in order to afford to retire (medium.com)
submitted 5 days ago by theHRguy@lemmy.world to c/aboringdystopia@lemmy.world
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[-] Maggoty@lemmy.world 49 points 4 days ago* (last edited 4 days ago)

Alternate headline, "Half Of All Americans Will Die Without Retiring"

Second line they use for the follow up punch, "A Quarter Will Die Within 7 Years Of Retirement."

Seriously, go look at an age demographic pyramid. Half of a cohort dies in the 60-65 area. And it drops precipitously from there until you're looking at about 2 percent making it to 100.

Capitalists don't want you retiring. If you're not making them a widget then they see no use for you. The economically minded might point out that retirees are some of our biggest spenders. But the wealthy elite don't care. They only see a pool of money they want in their hands. Dying at work is the end they want for their workers. Especially if there's a pension.

[-] Krauerking@lemy.lol 9 points 4 days ago

Dying at work is the end they want for their workers. Especially if there's a pension.

I see you have also read Boeing's retirement study and plan.

[-] Maggoty@lemmy.world 2 points 4 days ago* (last edited 4 days ago)

In related news the DOJ might actually criminally charge the company for MCAS. But only because the company couldn't keep to the deferred prosecution agreement. All they had to do was institute an Ethics program.

[-] Fredselfish@lemmy.world 58 points 5 days ago

Retire? We going have to work until we die because we won't be getting any social security.

[-] huginn@feddit.it 42 points 5 days ago

Don't believe that horseshit "we don't have money for Social Security" conservative talking point.

  1. We have money just not the way it's currently funded
  2. Cutting social security is political suicide

The only way social security goes away is if conservatives think they can win an election without old people. Fat chance.

[-] GoddessNoAi@lemmynsfw.com 51 points 5 days ago

Republicans will take away social security, blame Democrats, and their voters will believe them.

[-] cheese_greater@lemmy.world 16 points 5 days ago

Their old people will be grandfathered in

[-] givesomefucks@lemmy.world 22 points 5 days ago* (last edited 5 days ago)

The contribution limit was invented decades ago when wealth inequality wasn't as bad of an issue

If we got rid of the cap, we'd have no problem finding it. And the people above the cap, just don't need the money anyways.

[-] Lost_My_Mind@lemmy.world -4 points 5 days ago

How many decades ago? Because I seem to be able to trace a wealth gap dating back to days that may or may not have even happened. We don't know, because recording history on written paper was considered offensive. And religion itself isn't the best source of info, I get that, but Jesus's whole existence was supposed to be the whole magic trick of "feed a whole village with one loaf of bread". With the idea that the whole villiage was full of poor people, and he was providing aid against their hunger.

And in order for that to even be believable in any sense, you first have to be able to agree on the idea that a wealth gap between the elite and the poor was already in existence.

Again, not that religion is reliable in any official sense, but it does help paint the picture that shit's always been bad.

[-] Maggoty@lemmy.world 1 points 4 days ago

7 Decades.

[-] Lost_My_Mind@lemmy.world -2 points 4 days ago

So, the 1950s is when you think the wealth gap started?

Guess all those french dudes in the 1800s were revolting over nothing, and the russian revolution was all for nothing?

[-] Maggoty@lemmy.world 3 points 4 days ago* (last edited 4 days ago)

I'm sorry I didn't realize those happened in America. But no, obviously not. It's when's things were about as equal as they ever have been in America thanks to FDR's social programs, including Social Security. If you want to be pedantic about the existence of classes please go do it somewhere I can't see.

[-] jettrscga@lemmy.world 5 points 4 days ago

All they have to do is take it away from future generations while allowing the current elderly generation keep it.

The old voters stay happy and the politicians who screw everyone over are long gone by the time the implications hit.

[-] shalafi@lemmy.world 5 points 4 days ago

No lie. I asked a financial advisor when I was in my late 20s, almost 30-years ago.

"You're getting your Social Security or there will be riots in the streets. Plan accordingly."

In 1989 we high school seniors said we wouldn't get Social Security. We will, no matter what.

[-] Maggoty@lemmy.world 1 points 4 days ago

That's basically what this headline means. Everyone thinks they're going to make the long haul but half of an age cohort dies before 70.

[-] cyberpunk007@lemmy.ca 2 points 2 days ago

I kind of assumed it was till we all died at this point. Whether that's before or after 70..

[-] protist@mander.xyz 24 points 5 days ago

Sure, times are hard, but so is science journalism, apparently. Where could medium.com possibly get that this study says that headline. This study asked people of all ages what they predict is going to happen. There is no scientific basis for that headline, this is entirely based on a public opinion poll.

[-] Maggoty@lemmy.world 6 points 4 days ago

SSA is moving to 67 so that's going to figure in a big way for most Americans.

[-] newthrowaway20@lemmy.world 2 points 5 days ago

It is medium, after all.

[-] half_built_pyramids@lemmy.world 1 points 4 days ago

I don't have many authors blocked on medium, and I didn't remember why I blocked this one, but... There's no but I guess.

[-] Ticklemytip@lemmy.world 16 points 4 days ago

Well thankfully I expect to die before I retire. As Homer Simpson once said "You tried, and failed miserably. The lesson is, never try." Unless I hit the lottery which I almost never play. Retirement would be miserable for me. Basically just waiting to die already. My grandparents could barely afford to survive. My parents are almost there and are the same.

[-] Drusas@kbin.run 17 points 5 days ago* (last edited 5 days ago)

My disability insurance (private, not public) specifically ends when I'm 60 (or before, if they can find a reason to disqualify me), so it's basically built in that I won't be able to retire.

[-] Yawweee877h444@lemmy.world 2 points 3 days ago

F all this nonsense. I plan to die of cancer or something way before that lol. WTF would I want to be 70 in this capitalist hellscape

[-] givesomefucks@lemmy.world 14 points 5 days ago

If you're less than 62 this year, you have to wait till 67 to get full Social Security

https://faq.ssa.gov/en-US/Topic/article/KA-01885

[-] ohlaph@lemmy.world 9 points 5 days ago

When did this change?

[-] givesomefucks@lemmy.world 14 points 5 days ago* (last edited 5 days ago)

2022, it wasn't publicized much, so most still haven't heard of it.

Would be a great rallying cry for young voters if Dems were trying to fight it and lower it back down after removing the cap.

But donors dont want that, so voters don't get an option that will do it.

[-] goferking0@lemmy.sdf.org 5 points 5 days ago

Did dems get anything for that change or was it another or their compromise and get nothing negotiations?

[-] givesomefucks@lemmy.world 14 points 5 days ago

It was done by Reagan in the 80s...

Not even exaggerating. They do these based on birth year, so changes are set decades in advance so they people getting fucked don't get to vote on it

https://www.cnbc.com/2022/04/03/social-security-retirement-age-reaches-67-some-say-it-may-go-higher.html

And in the last 40 years, no one's never really did anything to fight it.

Like, it's not a rachet, it doesn't just go one way. We can lower it too.

But to afford to do so wed have to remove the cap on contributions and the wealthy wouldn't want that.

[-] Maggoty@lemmy.world 4 points 4 days ago

This wasn't even a compromise.

[-] rez_doggie@lemmy.world 11 points 4 days ago

Thanks boomers

[-] InternetUser2012@midwest.social 12 points 5 days ago

I'll work until I'm dead, I'll never be able to retire. Woohoo...

[-] baldingpudenda@lemmy.world 12 points 5 days ago

I'm pretty sure that means that most Americans will die working

[-] Maggoty@lemmy.world 5 points 4 days ago

Yup. People need to stand up and demand better work life balance and early retirement options. Half of an age cohort dies by 70. SSA is moving to 67 which means there's a large percentage of people who will get Social Security, and immediately die. We're living in the dystopia.

[-] 3volver@lemmy.world 10 points 4 days ago

This is very, very bad for the future outlook of our country. It's real, we're in it. Something significant is going to have to change soon.

[-] HubertManne@moist.catsweat.com 8 points 5 days ago

My math says I will work till I can't and then will have to accept a lower quality of life for whats left and my wife and I end up on medicaid in a nursing home.

[-] Drusas@kbin.run 3 points 5 days ago

Medicare, probably.

[-] protist@mander.xyz 7 points 5 days ago

Medicare only pays for short-term skilled nursing rehabilitation meaning you need something like physical therapy after a major surgery. For long-term care because you're just unable to take care of yourself, you'd need Medicaid or to pay several thousand/month out of pocket.

[-] Drusas@kbin.run 4 points 5 days ago

Ah, my mistake. It is very complicated. Usually, as a rule of thumb, Medicare pays for elderly care and Medicaid pays for poverty care, but there are--as you point out here--exceptions. Rule of thumb doesn't always work so well.

[-] HubertManne@moist.catsweat.com 2 points 4 days ago

protist explained the american situation right which unfortunately I have first hand experience with my father.

[-] Krauerking@lemy.lol 1 points 4 days ago

Damn.... Lucky.

[-] doingthestuff@lemmy.world 5 points 5 days ago

80s probably. They'll put us in Tokyo style bunk rooms and one meal a day if we aren't the elite.

this post was submitted on 23 Jun 2024
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