NEW POLL: Baby Boomers Squeezed by Economic Uncertainty, Expect Later Retirement

[OKNancy]

Of course a lot of us already know this

http://www.marketwatch.com/story/new-poll-baby-boomers-squeezed-by-economic-uncertainty-expect-later-retirement-2011-12-15

snip from the article

"The impact of the recession on the middle class is larger than past recessions. Not only is long-term unemployment at record levels, but Baby Boomers now say they will have to retire six years later than previous retirees," said Thomas J. Wilson, Allstate chairman, president and chief executive officer. "Sandwiched between the happily retired and the optimistic young, these near-retirees feel the pain of their declining home values and retirement savings and expect to work until 66 years of age. This profound decline in Baby Boomers' retirement expectations has significant public policy and private market implications."

[Howler]

1. From where I'm sitting that sounds about right.

Sometimes I think we will have to work even longer then that.

[uwep]

2. Never going to be able to retire

There is no light at the end of the tunnel. It seems that living is getting more expensive all the time.

One example:
I tried to reduce the amount of my cell phone bill. I have T-Mobile. I changed rate plans only. They extended my contract without a warning. I did it the first part of April. There was no indication that there was any type of catch, but when I went back and looked they posted in bold letters that changing my plan would incur a 2 year extension of my contract. When I changed my plan this warning was not there. It will cost me approximately $400 if I quit, which I may do anyway.

To me this is the same as the predatory practices that the banks are involved in. It could be other cell providers will start the same practice. Trap the poor, the elderly and anyone that cannot afford it.

Kroger food stores have a similar practice. If you get gas at their stations they will place a $100 for debit or $150 for credit hold on your account, even though the transaction cleared. This is a lesson I learned the hard way. A $35 purchase cost me $75. This wiped out any savings I ever made buying gas at Kroger's. Needless to say they lost a customer.

American corporations and conservatives are keeping us poor and destitute.

[Howler]

3. Not on;ly are "American Corporations and conservatives keeping us poor and destitute" uwep

They are literally eating the world up! Buying up natural resources such as water pretty soon they are gonna Own the Rain.Tearing up and poisoning the environment.Dumbing down the population through weak education and propaganda. I mean You had to pay those fines and fees but rest assured that if you hadn't you could possibly faced a debtors prison ( yes they are bringing that back as well as children being held financially responsible for dead parents debt) while the corps don't pay ANYTHING. What they are gunning for quite literally is Cradle to the grave Slavery for all citizens not Lucky enough to be born into the 1%.

[sinkingfeeling]

4. I'll be 64 tomorrow and intend to work at least one more year.