patrick.net

Does anyone have data on the total value of “retirement money” that American workers think they have saved up for retirement? Another important part of the data would be when the “retirement money” becomes available.

For example in 2029 Americans will have xxx billion dollars in retirement accounts and xx% will be available for withdrawal without penalties.

Call me paranoid but I don’t believe that anyone who retires after 2035 will see ANY realized returns on their “retirement money.” Whether it be the great reset planned demolition of the world economy, deliberate confiscation of private assets for social equity programs as the OP suggests or just plain collapse of the United States under the weight of its own corruption and stupidity, “retirement money” isn’t yours until you spend it. I believe that for most Americans under age 53 as of January 1, 2024, that day will never come. I hope I’m wrong but I just don’t see a path forward over the next decade that will reward savers. If they have to, the powers that be will simply identify those with lush retirement accounts and target them for early carbon neutrality.

Jeder nach seinen Fähigkeiten, jedem nach seinen Bedürfnissen.

PeopleUnited says

I hope I’m wrong but I just don’t see a path forward over the next decade that will reward savers. If they have to, the powers that be will simple identify those with lush retirement accounts and target them for early carbon neutrality.

You can borrow against it if your employer allows. We've taken $50k out before. Interest free. Borrowed on margin with a family members stock and bought a house.

I wouldn't be overly worried. As a kid in the 90's this type of shit was all I'd hear from adults. Nothing in 30+ years. Everyone and I mean everyone was 100% wrong. Look at the world right now. The money will be there in 30 years as it is now. Enjoy life. You won't have any problems outside of your own doing.

clambo says

While at Publix Saturday I saw an announcement on something near the pharmacy that today 41.8 million people in the USA are receiving "Food Stamps", which today is called EBT.

This should be well known by now. The percentage of people working in public sector is growing and close to half the workforce I believe. The number of people who depend on government at some level(food stamps is just one example), is like 75%. We live in a Banana Republic, it is ONLY because we have the reserve currency that we haven't gone under already. But that is coming...

Good high schools should be required to do a course on Austrian economics, then signs like this wouldn't be surprising.

NuttBoxer says

We live in a Banana Republic, it is ONLY because we have the reserve currency that we haven't gone under already. But that is coming...

Simplistic thinking. Currency means nothing for the most part. We have the best land and resources on the planet. Maybe it means something for Europe or China. Our currency is resources and military. That's always been the way. It's not about the "dollar" as people always say. We're not going under in our lifetime. Live it up.

Al_Sharpton_for_President says

Jeder nach seinen Fähigkeiten, jedem nach seinen Bedürfnissen.

In diesem Fall bin ich weniger fähig, aber sehr bedürftig.

clambo says

41.8 million people in the USA are receiving "Food Stamps", which today is called EBT

that is about right as far as no more than 15% living at or below the poverty level , hence they qualify for for EBT

.

NuttBoxer says

This should be well known by now. The percentage of people working in public sector is growing and close to half the workforce I believe. The number of people who depend on government at some level(food stamps is just one example), is like 75%. We live in a Banana Republic, it is ONLY because we have the reserve currency that we haven't gone under already. But that is coming...

Weak men permit hoes.

Hoes need public support and vote for more of it.

Hoes create hard times.

AmericanKulak says

NuttBoxer says

This should be well known by now. The percentage of people working in public sector is growing and close to half the workforce I believe. The number of people who depend on government at some level(food stamps is just one example), is like 75%. We live in a Banana Republic, it is ONLY because we have the reserve currency that we haven't gone under already. But that is coming...

Weak men permit hoes.

Hoes need public support and vote for more of it.

Hoes create hard times.

If we do continue at this rate such as government deficits, then there will have to be greater increases in productivity to at least maintain status quo for standard of living.

Need reduction in unit price for aquaculture and agriculture products, and diesel needs to no more than increase 2% annually.

.

Government giving taxpayer money away to losers hurts us in several ways, which may or may not be easy to recognize.
1. Inflation; this is pretty obvious I think. During the pandemic, free money was paid to everyone. More money without more production is the definition of inflation.
2. Huge debt; the government is spending money it borrows by selling bonds. Today it's $34 trillion=$34 thousand billion. A large percentage of this debt is owed to foreigners and foreign governments.
3. Interest on the huge debt; interest paid to maintain this giant debt is becoming a very large part of the budget, so other important things can't be paid for.
4. Interest on the debt paid to foreigners; Interest paid to Americans can be kept in the USA assuming they spend it someday, however interest paid for foreigners is forever lost from the USA economy.
5. A subtle problem of debt is that the value of the US dollar will fall in relation to other currencies. My clear recollection of Switzerland was I exchanged 3 Swiss francs for $1 US dollar back in 1974. Today $1 dollar does not buy 1 Swiss franc.

Everyone must eat. J.O.B.S. that pay a living wage.

"He who doesn't work doesn't eat."
Overheard in Mexico.

I recall reading that a not-insignificant amount of Coca-Cola profits come from EBT purchases. I'll try to find that.

WookieMan says

Simplistic thinking. Currency means nothing for the most part. We have the best land and resources on the planet. Maybe it means something for Europe or China. Our currency is resources and military. That's always been the way. It's not about the "dollar" as people always say. We're not going under in our lifetime. Live it up.

Currency means everything when wealth is measured by perception over reality. I fully agree that resources, ability to build things, grow food, and gold and silver are the types of things that represent real wealth. But to put it in patnet terms, when you can buy a depreciating asset, sit on it, then sell it a few months later for a profit, your economy is driven by leverage, speculation, and lies, not reality.

American jobs mostly provide services, not products. An AI company just went up like 357 BILLION dollars in one day purely based on speculation, not any viable product currently on the market. Our military is compromised, our natural resources are being locked away in favor of boondoggles, and any remaining wealth is being given to illegals, and laundered through Ukraine.

Our cost of living is higher this year than last, and will be higher still in another year. People who perform maintenance can't get parts the same day any more. Your agreement isn't necessary, but it will help you be prepared.

AD says

If we do continue at this rate such as government deficits, then there will have to be greater increases in productivity to at least maintain status quo for standard of living.

We're already losing, maintaining went out the window over ten years ago for blue collar. And has gone out the window in the past few years for tech.

Have to admit, I had to Google Publix.

Figured it was one of those Piggly Wiggly things. Seems I am correct.