yeah... well said...
I pretty much feel the same way. I know bride and I will be fine, but we have the same sinking feeling about so many of our friends and the coming generations. We lucked out, in retiring 20 years ago during the good years of stability... We're part of the "Lucky Generation"... living between the extremes of war and extreme financial volatility.
We live frugally, but with heads above water, barring catastrophic illness etc., and no debt.
What we're beginning to see is the anxiety that comes to older persons, when realization sets in that there isn't any easy way to recover what they're losing. When you can't "go back to work", or even handle a minimum wage job. When that money market fund that was paying 8%interest has lost 40% of its' capital, and the $18,000 in Social Security represents 60% of the total income. I'd suggest that this is not an unusual situation.
All in all, even that doesn't sound as bad as the fear of what future inflation will do.
As we recover in two or three or four years, those who are still in the work force will grow with the inflation. Not so for those who are no longer able to work. When the $30,000 income of today turns into $15,000 or less, the average retired senior may be suffering more than ever imagined.
No one knows what the future holds, but history teaches that the elderly suffer most in difficult times.
I worry most about the people who around the 55 to 60 age bracket, where the money from the peak earning years usually goes into building the retirement fund.
All incomes are relative, of course... and being "comfortable" means different things to different people.

As to the future... I can only hope that our government will provide safety nets as a first priority. Hard to talk about shelters and soup kitchens, but the alternative unimaginable.

Sounds hard to believe, but here in central Florida, most of the aid programs are being stretched already, with all funding, both public and private, falling far short of needs, and not much light showing on SM's dark horizon.




Life is Good!