Phillip Tilley

You can’t retire, and that’s a good thing

May 29, 2008 |  14 comments
Image Credit: sxc.hu At least that is what the Government is saying. Good for whom you ask? Good for you because most people can’t afford to stop working. There are 78 million baby boomers, those born between 1946 to 1964, that are only now reaching retirement age. There are 37 million Americans over age 65 and 23.2% of them are still working according to the 2007 U.S. Census Bureau. The Government says that is their choice. Yes, if you choose to eat and sleep in a warm bed you better choose to keep working.

My friend Chuck retired and his funds ran out after only three years. Now he is back working again. He said health costs ate his retirement and he is right. Fewer companies offer health insurance to retirees and some can’t afford it anyway. The average retiree only gets one third the income they made while working and spend 13% of that on health care, according to the 2005 Consumer Expenditure Survey. The elderly in the work force is an economic necessity on many levels.

It’s not just an old people problem, it’s every ones problem. A majority of Americans aren’t saving anything for retirement, or they just aren’t saving anything at all. It takes everything they earn to live day to day, and why save worthless Federal Reserve Notes anyway with inflation making them worth less and less. Rising prices, layoffs and divorces have sent a record number of middle-aged people back home to live with their parents. These people are 40 to 50 years old and back living in the bedrooms they grew up in. 25% of Generation Xers, those people age 28 to 39 get financial help from family and friends according to a survey by AARP. This causes hardships for their parents, delaying their retirement.

Congress blames Social Security for its shortfall, and half of all employers in the U.S. don’t offer a retirement plan or 401K, and for those that do, few participate. Congress wants to cut social security benefits and increase taxes to keep it from running out of money. It helps if older people keep working because they keep contributing which helps fund the shortfall. Of course a cut in benefits means the young people pay more and will receive less. This means they won’t be able to retire either.Some economists think the best way to motivate Americans to save for retirement is by using a carrot while others suggest using a stick and others yet suggest a combination of both.

I suggest using real money which would be worthy of saving. Let’s face the facts, the problem with Social Security isn’t that it’s running out of money, the problem is it never had any money in the first place.

President Roosevelt confiscated the Americans gold in 1933. The Social Security Act was signed into law in 1935. This means the money was gone before Social Security even started. With worthless Federal Reserve Note currency to start with it never really had any real money. Nobody can enjoy their golden years without the gold.

You can’t retire and that’s a good thing. Wake up people, the money matrix has you!

Phillip Tilley is author of The Money Matrix of the New World Order and other articles. Comments (14)

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