[quote=livinincali][quote=CA renter][quote=harvey]Thanks for the data, phaster.
DB plans will go down in history as a failed economic experiment.[/quote]
LOL! And you think that DC pensions will go down in history as a successful experiment? Good luck with that.[/quote]
Long comfortable retirement for the masses will go down as a failed experiment. Hope you didn’t burn too many bridges with your kids because it’s live with them or get the living equivalent of 3 hots and a cot. That’s what’s eventually going to happen. The top 20% may be able to experience comfortable retirement, but the rest will be living pretty damn broke in retirement. Surviving but not thriving. There’s just not enough disposal income from the productive members of society to provide comfortable retirement for the masses.[/quote]
Agree, to a large extent. That was my point about historical social safety nets being familial. But how do we reconcile this with the trends related to industrialization and modernization — non-agrarian lifestyles where children are expected to sever ties with parents, siblings, and other family members at a fairly early age in order to pursue their own education and interests, etc.? It just doesn’t bode well, especially for most American families.
