Posted by: winteridge | July 23, 2011

The Perils of Retirement Today


This is the gist of my letter recently published in Syracuse’s Post Standard, and I thought I would share it with you:

To the Editor:  Although I often react to Letters in your paper, I seldom write in reply, but Lynn Davis’ letter of July 6 struck me as wrong.  I would guess that Davis is a current or retired government employee, and not fully aware of the current state of our economy.  Be aware that many people actually did plan for their “Golden Years” with pensions, 401-K Plans, IRA Plans, and other investments, only to see those retirement funds disappear through the efforts of our government, our banks, and Wall Street “Wealth Managers”.  The “American Dream” has become a nightmare for many of us.  Even those who had private investments outside the stock market now find that banks have decided to stop paying interest on those funds.  In addition, thousands of former employees, such as auto workers, have lost their jobs indefinitely, along with health insurance, pension benefits, and unemployment insurance.  Call this “Lack of adequate retirement planning” if you will, but I feel our government has let us down to satisfy the financial greed of others, and the retired workers suffer most.  Social Security benefits have been a safety net for many, and now our Congress is working to do away with even that.  (Give thanks that President Bush was discouraged from investing Social Security funds in the stock market.)  The near future does not look bright for many retirees, Mr/Ms Davis, and you can consider yourself lucky to not be among them, but please do not condemn them for circumstances beyond their control.

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Responses

  1. My comment disappeared. I’m not going to try to reconstruct it for re-entry. Maybe you can recover it yourself.

  2. Sorry, Barb. Your comments are always interesting. I will take this opportunity to apologize to any legitimate commenters whose remarks I delete with my spam. There are sometimes up to 200 spams on my blogs, and I gave up trying to sort thru them. The drug dealers and penis extenders are easy enough, but some are hard to decide, so I trust to my WordPress: if they classify it as spam, it is gone. Hope I don’t hurt any feelings.

  3. I totally agree with you! This sense of entightlement with goverment workers is the same as the entightlement with welfare. In my opinion they are the same. The new america is upon us and its going to get ugly.

  4. just saw a cartoon featuring a senior citizen walking the beach with a metal detector. he replies to another person: “my hobby? No, this is my retirement plan!” At least he has a plan.


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