In Poland we had the Argentinian system implemented, the one that gives private companies free hand with your mandatory savings and caused failure of retirement system and fall of government in Argentina. In 10 years i lost about 30% of what i paid into it because stockmarket play failures and very high fees taken by those that played. Basically everyone else also lost which forced a liberal government to give people option out of it into huge state company buying bonds, which is also shit but at least you won't lose everything because state institution won't just (hopefully) run away with your money.
And btw all this didn't caused any social unrest in Poland and the improvement, literally the only good thing libs ever did, caused massive outrage.
it is so fucked, if you earn little and you get auto-enrolled into a default scheme with high fees in the UK, literally your entire savings will be eroded by fees within the year
This was the common "retirement" for peasants living under heavy serfdom. They faced hunger every year so the old people unable to work "went to forest for firewood" or "go to hunt" to die there with some dignity and remove the excess mouth. A lot of time this was forced, and it happened not only to old people but to disabled, women and children, especially in worse years.
my retirement plan is dying in a socialist revolution
Ah, an optimist!
If I retire, I'm probably going to be sharing Marxist and Anarchist extremist content on Facebook the way boomers still post about Obama today.
How is that even determined?
Pensions aren't really a thing anymore, so... Retirement funds I suppose?
I feel like there’s probabilities associated with that stuff. Most people’s retirements are tied to stock markets
This information would harm the worldview of Washington Post staffers
No information can impact the worldview of Washington Post staffers
Maybe not information, but there's always
They are, I lost 300 dollars last week from my "retirement savings" lmao
In Poland we had the Argentinian system implemented, the one that gives private companies free hand with your mandatory savings and caused failure of retirement system and fall of government in Argentina. In 10 years i lost about 30% of what i paid into it because stockmarket play failures and very high fees taken by those that played. Basically everyone else also lost which forced a liberal government to give people option out of it into huge state company buying bonds, which is also shit but at least you won't lose everything because state institution won't just (hopefully) run away with your money.
And btw all this didn't caused any social unrest in Poland and the improvement, literally the only good thing libs ever did, caused massive outrage.
Yea, but real talk: barring the collapse of the US empire, you will make money in the long run.
That's some clown world type shit.
Ain't that the truth
What happened to pensions? Did Reagan mess that up too?
Yes, indirectly but yes.
conspiracy by big bank to force you to care about "the economy"
They also make broker commissions and account fees from holding investments. Just skimming right off your earnings
it is so fucked, if you earn little and you get auto-enrolled into a default scheme with high fees in the UK, literally your entire savings will be eroded by fees within the year
This was the common "retirement" for peasants living under heavy serfdom. They faced hunger every year so the old people unable to work "went to forest for firewood" or "go to hunt" to die there with some dignity and remove the excess mouth. A lot of time this was forced, and it happened not only to old people but to disabled, women and children, especially in worse years.