I've basically given up on the hope that these retirement funds will still be solvent and functioning in 25 years when it is my time to collect. My hope is that there will be enough available for my parents to live out their retirement comfortably and my generationwill be left to fend for themselves.
They are both reaching 70 this year. My mom has 2 pensions: a 20yr nurse and 20yr school account, and she still works part-time to stay busy. My father has no plans of slowing down to my knowledge, as he very much enjoys the friendships and office interaction of working as a real estate attorney for commercial clients and commanding $500+/hr in fees.
I've never felt that same calling of duty to work. Everytime I save up enough money, I like to take a break from the work race and enjoy experiences while I'm still young. I may be living frugally and carefully, but I can at least do them mostly on my own terms. I don't really count on my government for much these days, as that's what I've grown accustomed to in the US. But maybe there is hope for me yet in finding a new home somewhere overseas.
Me too. In Finland, education is free and people put faith it will always be so - I expect I will have to cover my daughter's university, if she goes.
Sounds like your parents will be fine. Also, why stop working if still good at and enjoying it? Do painters and musicians have to stop?
Too many governments are following in the footsteps of the US, not because they should, but because it is how individuals can maximize their wealth at the expense of others. Is that the "The American dream"?
For my family, and I'm only a 2nd generation American, the dream was to escape the religious persecution going on in Eastern Europe. I think for my parents, it was to start a family. To be honest, I don't really have American dreams... in fact, I dream of leaving America!
Don't you find it interesting that the people who have to escape persecution, tend to be able to make a better life elsewhere and they are likely a social and economic loss to where they were persecuted?
It was my grandfather skill as a pianist and bridge player that kept him in good favor with command at a Russian labor camp. Smuggled out thru Vienna.
Came to New York City and bought as much as he could with whatever they could scrap around from friends n family in Switzerland 🇨🇭 Kept playing piano on the daily, had a taste for classy old ragtime beats.
Don't even get me start on how grandma with blonde hair, blue eyes, and German skills allowed her to use fake papers and dip out too. And now here I am and half this country basically side with these bad guys.