Note: The site where I found this article is a bit of a conspiracy site and I am not sure about the validity of this news but seeing how we all have to retire or die at our desks I thought it would make a good conversation piece.
One sad situation in life is that we will all grow old and have to be put out to pasture (retire)….and the big question is will most Americans have enough cash saved to live a comfortable life?
I was unfortunate enough that hurricane Katrina injured me and I had to retire….but I was employed by the state and had a good retirement plan….sadly those days are slipping away….now employees are forced to “invest” their money and in doing so are at the mercy of the economic system under which we live….
For some the only retirement they have is their Social Security and the way things are going it looks like that will not be there when a person retires.
What is the future of our swindling pensions?
For millions of public sector workers in the U.S., state-run pension funds are the only chance left for a comfortable retirement. In the hopes of providing a stable future for their families, an entire generation was duped into putting decades of their earnings into these supposedly ‘risk-free’ investments. Unfortunately, those who have entrusted the government to manage their life savings may end up destitute as a result.
Budgetary shortfalls that have plagued Detroit for years are now spreading to other municipalities. Since 2008, six local governments have been forced to renegotiate their debts in bankruptcy court, with many others on the same trajectory. The scale of the problem has been repeatedly understated by the media, but across the nation, a somber reality is beginning to set in.
It appears that it is only a matter of time before all Americans are suffering from some sort of pension panic.