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Social Security at my retirement age? How much are these worth?
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I'm sure raising the age sounds great for pencil pushers....not so great for anyone doing physical labor. And yes, the government is certainly to blame but let's also look at the fact that families are having less children. Don't underestimate that impact.
Live Births and Birth Rates, by Year — Infoplease.com
Since 1910, the birth rate has been cut in half.
Yeah, tell a guy who is doing physical labor to keep doing it till he is 70 lol. Some of these guys are lucky to even make it to age 62.
That illustrates just how screwed we're all gonna be. Anyone care to point out anyone earning 50k and saving 7k?
That's over 12% and not even accounting for taxes. National savings rate is around 2%?