From Pine View Farm

Never Quit 0

Remember all those happy-looking retirees in those bathtubs on the telly vision?

They are working actors, probably getting paid minimum scale:

America’s retirement system is said to be a three-legged stool made up of private savings, pension plans, and Social Security. But each leg of the stool is wobbly, while a fourth unacknowledged leg — asset accumulation from home equity — has also taken a huge hit. Absent drastic changes in retirement policy, more elderly Americans will be poor, and many more will be working, often in low-wage jobs, because they can’t afford to retire.

Read the whole thing, especially the part about why the move to 401k’s turned out to be a scam and a fraud has failed the holders of 401k-based retirement plans.

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