Comments on: Who Can You Count on For Retirement?

By: Pension Loan

Pension Loan — Mon, 04 Jul 2011 10:41:00 +0000

PENSION LOANS – If you have a Pension valued over £20,000 then you qualify for a Pension loan, (it must be a Personal Pension or a frozen ex company Pension) The amount you can borrow will depend on which scheme you choose

By: 5 Things Every Baby Boomer Must Know About Retirement Savings | Redeeming Riches

Mon, 27 Dec 2010 17:56:24 +0000

[...] are on your own for retirement savings – and that’s [...]

By: 3 Reasons Why You Shouldn’t Fall in Love With Your 401k! | Redeeming Riches

Thu, 12 Nov 2009 12:43:09 +0000

[...] 401k’s have become the norm for retirement savings. More and more companies are putting the responsibility of saving for retirement on the employee and have gotten rid of traditional pension [...]

By: Friday Finance Round Up – August 28, 2009 « Redeeming Riches

Friday Finance Round Up – August 28, 2009 « Redeeming Riches — Fri, 28 Aug 2009 11:33:26 +0000

[...] Money Relationship included Who Can You Count on For Retirement in this week’s Carnival of Personal Finance [...]

By: traineeinvestor

traineeinvestor — Tue, 25 Aug 2009 01:48:40 +0000

I have never understood why a company should keep paying/prvide benefits to people who no longer work for the company. What they should have done is make regular contributions into a pension scheme held by trustees independent of the company – this gives the workers much greater protection in the event that the company gets into financial difficulties and removes the post employment cost to shareholders and other stakeholders in the company.

As to government pensions, it has been well known since at least the 1980s that the pay as you go system used in many countries was unsustainable – but very few countries did what was necessary to address the issue (Australia was one which introduced compulsory savings which is already showing good results for the country). Taxing the rich (mostly middle class actually) at higher rates will not be enough to bridge the gap.

The bottom line: do it yourself or accept the fact that you will spend yoru old age living in comparative poverty.

By: One Money Design Weekly Round Up: Blogger Community Addition | One Money Design

Sat, 22 Aug 2009 14:46:49 +0000

[...] Who Can You Count on for Retirement posted by Redeeming Riches. [...]

By: Ken Christensen

Ken Christensen — Tue, 18 Aug 2009 17:18:36 +0000

I think the increased revenue that is being counted on from the repeal of tax cuts the “wealthy” currently have will not amount to much. The wealthy can afford to pay people to figure out how to reduce their tax burden. As a result, the amount of tax that the wealthy pay, will continue to be low, but the productivity of that wealth will be diminished, because they’re spending part of their wealth on figuring out how to reduce their tax obligation.

It would be much better, and completely fair to eliminate the graduated income tax all together. A flat rate that everyone pays would simplify taxes for everyone.

As it stands, it takes some really educated people to even begin to understand the tax code, and even those with the best of intentions can find themselves on the wrong side of the IRS.

Bottom line is that the tax code needs to be scrapped!

By: Will

Will — Tue, 18 Aug 2009 15:09:26 +0000

According to the CBO, SS could be fully funded through 2100 by repealing the Bush tax cuts on those earning $500,000 or more. That seems like a slight increase to me.

My expectation is that they’ll push back retirement age, so even though I think that I’ll eventually get SS I’m not counting on it since I don’t know when I’ll start getting it.

By: jtopp

jtopp — Tue, 18 Aug 2009 11:51:25 +0000

Will, I admire your optimism. I hope you are right. I’m afraid “fixing it” will require more than just a slight increase in taxes, but we’ll see.

By: jtopp

jtopp — Tue, 18 Aug 2009 11:49:11 +0000

I agree, government assistance would be icing on the cake. Plan without it and celebrate if you get it!