Reply to Millenials are ruining their parents retirement plans?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Thet screwed their children by taking away pensions and making it impossible to have a living wage. They are horrible people. My father makes 6 figures in retirement--way more than I have in my entire life as a working professional and my parents act like they are poor when my dh and I are working to scrape by. We don't buy anything extra aside from groceries and rent.  But they seem to really be suffering as home owners their gated community and new cars.[/quote]

Yup. My parents are good people who earned what they have...but my husband and I will never be able to retire at 60 with a six figure income of pension, SS, and investments. We invest what we can, but without the pension and with the likelihood of SS decreasing, we're never going to make up for the other two "legs of the stool."

So I'm not all that sympathetic. [/quote]

Plus a million.[/quote]

+2, similar parents.  A pension, two social securities, cheap healthcare for life that I’d pay through the nose for if those plans still existed.  My parents saved in the way that most responsible Dcumers do, but have SO much more than similarly responsible savers today will. [/quote]

Then save more. Life lesson 1 - life is not fair but it is what it is![/quote]

We can try, but our wages aren't necessarily high enough to make up the loss of those other retirement income sources. Math is a thing, there are real limits on savings for the 3 of us on DCUM who don't make $700k. Yes, life is not fair, and sometimes you can't just personal responsibility your way out of it (or if you think the solution is for everyone to be in the top 1% or stop complaining, uh, I would again refer you to math). [/quote]

only less than 1% makes 700k or anywhere close to it. most of us, like you, struggle thru. i am sure the generations before us had to do the same and the ones after us will be the same too.[/quote]

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