...the average retirement saver will need to double their rate of savings in order to be able to retire even five years later than originally planned. If and when that sort of analysis enters into the collective consciousness of the typical American, the economic impact is likely to be grim.Citi: US Credit Outlook
As we’ve seen in the UK, higher savings rates lead to lower consumption, a decline in corporate profits, and recession.
Zero Hedge
Retirement Reality Full Frontal: Why Every 30 Year Old Must Risk It All To Be Able To Retire
Have the folks that want to weaken Social Security, Medicare and Medicare (which funds long term care when personal resources run out) thought through the demand leakage of increasing savings?
2 comments:
Which just goes to show what madness it is to require people to save for retirement.
It makes no sense economically.
"Have the folks that want to weaken Social Security, Medicare and Medicare (which funds long term care when personal resources run out) thought through the demand leakage of increasing savings?"
No.
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