Skip to main content

View Diary: Elizabeth Warren gets to work on foreclosure fraud investigation (43 comments)

Comment Preferences

  •  something happened in the last decade for 55-65 (4+ / 0-)

    age bracket.  Our retirement was based upon 3 elements supposedly, SS benefits as a basis with our 401K/IRA retirement and home equity as making up the rest.
    The joke?  Changes in retirement accounts have resulted in the average 55-65 yo having only $120K in savings, which will not provide much of a cushion should he live the expected 15 years after retirement.  We already know what happened to home equity and now there are rumblings about cutting SS benefits.

    We are facing the prospects of the first massive displacement of an age cohort since the 1930s with a large increase in elderly indigent and elderly homeless staring the US in the face.  The only solution, after one of the largest transfers of wealth from one segment of the population to another in our history, seems to be increasing SS benefits.  In the meantime, holding the bankers responsible for the losses they generated in pursuit of personal wealth is paramount

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site