We Americans not in the Top 1% are screwed for retirement…

My generation is starting to near retirement — we are approaching 50.  Very few people I know have 401Ks, pensions or any kind of savings – after 3 recessions, wage depression and so on there wasn’t really a chance, and we weren’t really in the generation yet where anyone thought of high tech as a career.  I can’t think of a way that most of us are screwed in 20 years, and the thing is most of us worked very hard in our lives.  According to the NYT today, less than 10% of us are earning pensions (which is how my grandparents retired), and less than half have any money set aside for retirement at all.  Very very few of us have access to retirement plans that employers contribute to, something that all but evaporated after Enron.  So, again, most of our generation is screwed with very little chance of pulling out.  I really blame our parents’ generation (not anyone individual, but the generation) and a President until a few years ago I though did good things (Ronald Reagan).  But Generation X was not prepared for the high tech and every-person-for-themselves America that appeared in the 2000s, and Ronald Reagan allowed our parent’s generation make layoffs, monopolies and profit-at-*all*-costs to take control of America, starting with the union busting in the 1980s.  Russia may have lost the Cold War, but what Reagan implemented to win it has sunk modern life for the common American…

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We Americans not in the Top 1% are screwed for retirement…

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