this post was submitted on 21 Jul 2024
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A Boring Dystopia
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The concept of retirement for working class people is new (aristocrats retired all throughout time)
Before invention of retirement, the working class had the mentality that you work until you are dead with 99% of the working class in brown collar work. During the industrial revolution where most people transitioned from brown collar to blue collar work, retirement became much more common with social mobility.
During the great depression, USA legislators picked a number "65" to be the "age of retirement" with the reasoning that it would get more young people back to work. The average age of mortality at that time was ~67 years old. They did not index that age with the average age of mortality, so as life expectancy increased, there is now a period in people's life to be "retired".
Problems with how this developed:
With that perspective, I don't know if corporations are entitled here, or the people are just doing what their ancestors did for 1,000s of years and are owning it in a positive way.
This is neoliberal lies.
Well, I didn't post my sources and you didn't post sources. I think I am right but I don't want to spend the time looking it up when I am straight up told that I'm lying. I'll address your four points off the top of my head though.
buy and hold a low cost index of funds that diversified risk away from a single company. Have a mix of equity vs fixed income based on how soon you intend to start needing to rely on fixed income. Put your money in this exact index fund and don't worry about market ups and downs.
If you follow that investing instruction, you beat the social security administration every time in the last 30 years if you paid in the whole time you worked for 45 years.
Talking about raising the contribution limit is a moot point as government will be "accountable in this election cycle" by spending immediately based on my argument above.
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Did I say anything factually False? I hope to see any nuances that I missed.