Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
" 29 percent of such households don’t have a pension."
What is surprising is that 71% do have a pension.
If I read the article correctly, I think it claims 29% of the 50% that don't have retirement savings also don't have pensions. The percentage of all households that don't have a pension could be even higher.
" 29 percent of such households don’t have a pension."
What is surprising is that 71% do have a pension.
If I read the article correctly, I think it claims 29% of the 50% that don't have retirement savings also don't have pensions. The percentage of all households that don't have a pension could be even higher.
Yes, that is what I'm surprised about. 71% of those that don't have retirement savings have a pension. I think that number will decrease over the years.
If a person is 55 now and they started working at 20 - that was 1980. 401Ks started to become popular then and pensions were not.
Thank you all for facilitating this controversy on income growth and distribution. It is a centuries-old debate that does have a direct impact on our economy, and by easy extension to our marketplace.
Like most of us, I would prefer a more balanced income distribution for individuals or for families, or for whatever measure you wish to impose. The wealth distribution is a perennial problem with the capitalistic system. There will always be winners, but losers are also guaranteed.
I sure don’t have an answer; but neither does anyone else. We are swamped with experimental programs and ideas. Similarly we are overwhelmed with a tsunami of data. Interpreting this data is one challenge, but a zero-order issue is to present this data in an understandable, absorbable format.
Historical charts are a partial solution. Your posts motivated me to seek such charts. Here is a Link to a series that captures the many dimensions of income issues:
This chartbook of 11 pages was assembled by the Russell Sage Foundation (RSF) so an agenda is suspect. But the data is credited to the U.S. Census Bureau so it should be as reliable as such data can be made.
These charts slice and dice the real income data into many categories and present both median and mean statistics over time. The data is subdivided by sex and race also.
The reference is made without commentary by RSF (which does have a viewpoint) for a purpose. You get to examine this historical record without RSF influence. Please have at it.
One obvious observation is that inequalities exist. It’s another matter entirely to judge whether these inequalities are warranted or not. Over many years the bottommost rung on the pay scale has remained relatively income flat when adjusted for inflation, while the upper rungs have gained substantially in income. Those are the facts.
These charts are terrific summaries. Have fun with the data. Please don’t shoot the messenger.
Thank you all for facilitating this controversy on income growth and distribution. It is a centuries-old debate that does have a direct impact on our economy, and by easy extension to our marketplace.
I don't think anyone here knew they were facilitating this controversy on income growth and distribution.
Things you learn on this site are very interesting.
Well the answer is both obvious and easily accomplished. Stop taxing the top 5%, and they will be so grateful that they will fall over themselves in a rush to help the less well-off.
The lovely Tribune won't let me in, either. However, Ted's quotation is alarming. A testament to low wages and job insecurity. And to some extent, poor planning, or NO planning.
Comments
Regards,
Ted
Regards,
Ted
http://socialsecurityreport.org/half-of-people-near-retirement-have-no-savings/
Then click on the "read more" link
Regards,
Ted
What is surprising is that 71% do have a pension.
http://www.bloomberg.com/news/articles/2015-05-28/worldwide-elderly-crime-rates-increase
If a person is 55 now and they started working at 20 - that was 1980. 401Ks started to become popular then and pensions were not.
Thank you all for facilitating this controversy on income growth and distribution. It is a centuries-old debate that does have a direct impact on our economy, and by easy extension to our marketplace.
Like most of us, I would prefer a more balanced income distribution for individuals or for families, or for whatever measure you wish to impose. The wealth distribution is a perennial problem with the capitalistic system. There will always be winners, but losers are also guaranteed.
I sure don’t have an answer; but neither does anyone else. We are swamped with experimental programs and ideas. Similarly we are overwhelmed with a tsunami of data. Interpreting this data is one challenge, but a zero-order issue is to present this data in an understandable, absorbable format.
Historical charts are a partial solution. Your posts motivated me to seek such charts. Here is a Link to a series that captures the many dimensions of income issues:
http://www.russellsage.org/sites/all/files/chartbook/Income and Earnings.pdf
This chartbook of 11 pages was assembled by the Russell Sage Foundation (RSF) so an agenda is suspect. But the data is credited to the U.S. Census Bureau so it should be as reliable as such data can be made.
These charts slice and dice the real income data into many categories and present both median and mean statistics over time. The data is subdivided by sex and race also.
The reference is made without commentary by RSF (which does have a viewpoint) for a purpose. You get to examine this historical record without RSF influence. Please have at it.
One obvious observation is that inequalities exist. It’s another matter entirely to judge whether these inequalities are warranted or not. Over many years the bottommost rung on the pay scale has remained relatively income flat when adjusted for inflation, while the upper rungs have gained substantially in income. Those are the facts.
These charts are terrific summaries. Have fun with the data. Please don’t shoot the messenger.
Best Wishes.
Things you learn on this site are very interesting.
http://blogs.reuters.com/david-rohde/2012/01/13/white-house-the-american-middle-class-is-shrinking/
This is another reason why I wrote that thread about the young giving up the hope for a comfortable retirement.