blackangst1
Lifer
- Feb 23, 2005
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As far as I can tell its primary critique is that people are living longer than they used to and so it's putting a strain on welfare programs. Of course, welfare programs are one of the big reasons we are living longer than we used to so it's kind of a great problem to have.
It also make the counter-argument a bit odd: 'welfare programs are making people live so long that we should get rid of them so people die sooner and we can save on the budget' is probably not an electoral winner.
To this point, the answer is education (which Ive commented on in another recent thread) not more welfare.. We arent taught in middle and high school the value of money, basic money information, and basic information about investing or compound interest. Per this report, only 4 in 10 start saving for retirement in their 20's. So many think they dont make enough to save, which is wrong. Even someone on welfare can save $1/week. Its not the amount thats important, its the habit. That, and compound interest, is what makes retirement grow, As Warren Buffet has said, there are two ways to make alot of money. Alot of money and a little time, or a little money and alot of time. Most people fall into the latter.
Anyway.