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'Financially Repressed' Seniors Struggle In Retirement

Sunday, April 13, 2014 - 8:55 AM
“Interest rates that have prevailed for the last few years have made it more challenging for savers to accumulate wealth, particularly if they are trying to do so in a relatively risk-free way," James Poterba, professor of economics at the Massachusetts Institute of Technology in Cambridge, told Bloomberg.

'Financially repressed' seniors struggle in retirement | Interest.com
9
ShorebreakShorebreak2,675 posts since
Apr 6, 2010
Rep Points: 14,527
1. Sunday, April 13, 2014 - 9:14 AM
As much as I would like to, I can't feel as sorry for the "seniors" as I do for this generation when it comes to savings.  "We" had our chance to save with some pretty great CD rates and if the seniors were unable to or couldn't (for lack of enough income)  grab that train and build up a great savings for their future, it wasn't because they didn't have a chance at it with good riskfree CD rates. 

This generation is not afforded the same chances we had.  I heard something recently that may be typical of what is going on with them.  A young worker when asked where she was trying to save her money said she purchased one of those steel vaults and is saving all her unneeded cash in it in her home after seeing how pathetic the interest rates were for leaving it in a bank.  Is that what we are coming to with the youth of our country?    The risky stock market or hidden at home in a vault?  
3
paoli2paoli21,401 posts since
Aug 10, 2011
Rep Points: 6,135
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