I think we’re closer in age that you assume. I retired a few years back but now am a co-founder of a start-up and involved in several real estate partnerships so my wife insists I am lying when I say I am retired.
Saving for retirement is predicated on the notion that one generates income during adulthood. That’s not an unreasonable expectation. What I saw is that my peers who saved for retirement are now better off than my peers who lived a bit better a few decades back but did not put aside for the future. For most of us, saving for retirement will require some sacrifice in the present.
You are right that good jobs for High School graduates are gone. There are high paying opportunities for college graduates, but not across the board in terms of majors. Overall, things are tougher than when I was growing up; but there always are challenges that people rise to or not.
It shows that the system is failing them. It is benefiting the Baby Boomers still, but now at the expense of other generations.
While I disagree with your premise, at least you have acknowledged the consumer.
How exactly is it failing them? What is the alternative?
An interesting perspective. What I have taught my children is that there is no system there to serve them; there is a system that creates opportunities and dead ends and the best response is to take responsibility and make the most of the opportunities you have.
As a good example, Malcolm X was right about this. African-Americans should not look to the system of white privilege to give them anything; African-Ameircans should organiza their own economic opportunities and benefit from them
People don’t appreciate what a traditional conservative thinker Malcolm X was, but I bet Ayn Rand would have approved.
All systems are designed to serve someone.
Today’s reality is that the world has become much more complex technology wise. In order to compete, more education is required. To me, the obvious solution is to consciously pursue more training in order to meet the demands of today’s technology. I don’t see this as a failing of capitalism???
And that is capitalism’s fault?
I think the biggest fault of the country has been privatizing education with unbankruptable loans.
But critical to the supply side premise is that investment behavior is determined by tax rates. Any well run business is based on identifying and meeting consumer demand, in which case taxes are one part of the cost equation that you build into your price. If you cannot generate the revenues you don’t invest. All the Supply Siders grant government policy far too much importance, but we’ve had four straight Republican Presidents trying to goose the economy with tax rate cuts… not one of whom had a real understanding of business or had been successful at it.
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No, that’s my fault. I really blame myself for my situation when I wake up everyday.
So Trump has no understanding of business? He hasn’t surrounded himself with those who are successful businessmen in their own right?
Unintended consequence of big government stepping in and guaranteeing student loans.
The goal of today’s government officials is to enrich themselves.
Private student loans are unbankruptable too.
A few of the Goldman guys, but there are all modern financial service whizzes, they make money be moving money around generally in ways that destroy jobs and shift money from productive businesses into money management.
Trump, of course, was a fiasco as a business leader; though he played one quite well on “the Apprentice.”
Definitely save for retirement. I’m not arguing otherwise. It doesnt mean you have to invest in equities though… albeit that gives you the most return outside of interest rates. I just see people work until they are 65 or 70 miserable then retire and still arent happy. Life is too short to not live. Money isnt everything.
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That is true and one of the essential insights in Marx’s writing. But few systems are so closed as to not allow some openings for talent or effort. Privilege has its sway, but the system is not totally closed and its rules allow cracks to be opened up.
Sixty years ago, much of the system was closed to African-Americans, but cracks were opened and many more opportunities are available to African-Americans than at any prior time in our history.
Jezcoe
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Yep… my wife and I are laying into place to retire early to Maine.
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From what I understand you’re in a career you enjoy as am I. I love what I do and I get paid well, better than others. But it’s because I’ve always worked for the craft, not chasing a paycheck. It’s hard to get rich chasing money. It’s easier when you focus on the purity of the craft or your intentions in what you do. People are drawn to that.
