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Retirement is Just a Dream For Many In The Workplace, says AMAC


retire‘Six workers out of ten believe they’ll never see a Social Security check’

WASHINGTON, DC, May 8 – America’s workers are too busy looking for jobs to think much about the prospects of retiring.  One of the longest, slowest and weakest post-recession recoveries has decimated the work force.  Record numbers of people have stopped looking for jobs out of despair, skewing government unemployment reports.  And, a recent Gallup poll reported that 60% of those currently in the workforce don’t believe they’ll ever receive Social Security when they come of age.

“It’s been a depressing, a tedious and worrisome so-called recovery over the past five years and we’re still not out of the woods.  Individuals who once had good paying jobs are hard pressed to find employment that allows them to make ends meet, let alone put some money aside for the future.  America lost nearly 9 million jobs during the Great Recession that lasted from 2007 to 2009.  Statistically the country has regained the bulk of those jobs.  But, for the most part, those who have gone back to work are making less money,” according to Dan Weber, president of the Association of Mature American Citizens.

Catherine Collinson, president of the Transamerica Center for Retirement Studies, which issued its annual retirement survey this week, pointed out that more than a third of the country’s workers expect they’ll have to continue working well past their hoped-for retirement age.

“The long-held view that retirement is a moment in time when people reach a certain age, immediately stop working, fully retire, and begin pursuing their dreams is more myth than reality,” she said.  The survey showed that only 21% of the workers who were interviewed expect they’ll be able to “fully retire” when the time comes.  The rest expect to work, full time or part time.

Weber said that many seniors have gone back to work because they can.  They are living longer, healthier lives and enjoy the camaraderie of the workplace.  But most of them need the jobs in order to get by.

“The net worth of all Americans declined sharply during recession and its aftermath. But seniors have been hardest hit.  And, the proof is in the numerous surveys that show there are more post-retirement job seekers out there than ever before.”

But for many elderly Americans, finding work to supplement their incomes is not an option.  Social Security is what puts food on their tables.  “It’s their principal source of income, meager as it might be, and they would face cruel hardships if their monthly checks were cut.  For them, the fact that Social Security faces major fiscal challenges in the coming years is a scary prospect.  That’s why it is one of the reasons AMAC has put its primary focus on the fate of Social Security in the association’s meetings with lawmakers in Congress,” Weber noted.

NOTE TO EDITORS: Dan Weber is available for telephone interviews on this issue.  Editors/reporters may contact John Grimaldi at 917-846-8485 or [email protected] to set up a call.

ABOUT AMAC

The Association of Mature American Citizens [http://www.amac.us] is a vibrant, vital and conservative alternative to those organizations, such as AARP, that dominate the choices for mature Americans who want a say in the future of the nation.  Where those other organizations may boast of their power to set the agendas for their memberships, AMAC takes its marching orders from its members.  We act and speak on their behalf, protecting their interests, and offering a conservative insight on how to best solve the problems they face today.  Live long and make a difference by joining us today at http://amac.us/join-amac.

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Phil
5 years ago

The problem is Washington passes and/or sneaks thru laws and legislation that are NOT approved by or voted on by the American people. We elect those people to represent us but that does not give them Carte Blanche to do what they damn well please. They sit behind closed doors in secrecy concocting their little legislative schemes that in most cases have not even been asked for. I constantly write my Senators and Congressman. What I get are mostly form letters sent out by a staffer. What I’ve been writing my representatives lately is that the 2016 elections are just… Read more »

LORI
5 years ago

Paule, I totally agree, but where do we go?? I am alone in this world, my husband died 4 years ago. Please comment on where we go to get away from the awful things we hope won’t happen? Also we should have a lot of faith in our Lord as we try to prepare to do something. I am scared sometimes, but GOD overcame the world and we need to have faith that GOD hears our prayers for the nations and remember that he can and will stop the enemy where he stands if enough people cry out to him.… Read more »

O. Ryan Faust
5 years ago

It is possible to turn the economy around in a single presidential term. Here’s how: A. Shut down the federal reserve bank. B. Shut down all federal government functions not supported by the enumerated powers granted to the federal government by the Constitution of the united States of America. C. Rescind all federal legislation, rules, codes, laws and statutes outside the authority granted by the Constitution to the federal government and thus reserved to the States and the People. D. End recognition of the 14th and 16th amendments due to the fact neither had sufficient congressional votes to become law… Read more »

Laura Davis
5 years ago

I am REALLY CONCERNED about this social security problem. I will turn 62 on my next birthday which will be Feb.2016, about 9 months from now. I am not waiting to take it later as I am worried that nothing will be in that fund. I am MORE CONCERNED about my disabled daughter who was diagnosed with a mental illness when she was 17 and is now 38. She has been receiving SSDI, SSI, and Medicaid and Medicare insurance. She is not capable of working. She and others in the same position as my daughter cannot work and how about… Read more »

Fred Loe
5 years ago

On the expert on dental care,.Someone needs to point out dental health is an option.So those that do not see its importance and never see a dentist let alone follow their advice will now have free dental care from Medicare! That is like not paying for flood insurance when you house is behind a levee or in an arroyo in the southwest and going down the week of heavy rains to buy flood insurance not having it for years.The price of dental care has followed the CPI more or less for over 40 years.The problem is like obesity if one… Read more »

Perry
5 years ago

It is nice to hear common sense comments. It is too bad we have lost so much of our good! Amac is good!

Howard Last
5 years ago

Social Security does not need to be fixed; it needs to be repealed outright. The problem is how to make whole all our citizens that had their funds stolen over all these many years. Yes stolen, what else would you call it when something is taken under duress? Don’t pay your FICA and see what happens. There is a simple way to get their money back, just abolish all items in the budget not authorized by the Constitution. This would give better than 90% of the budget available to give their money back with interest. It would have an added… Read more »

murf appling
5 years ago

these commentaries on the Soc Sec System R most interesting. Soc. Sec. was never designed to operate as it does today. FDR & the depression era Congresses did not intend for people ever to use Soc. Sec. to “go on the dole”!! it was an idea meant to supplement income (pension, investments) based on nothing more than contributions & was not to be taxed. today it appears to fund anything “from A to Z”!! thnx to LBJ & Jim Wright & Tom Foley & Albert Gore, Sr & others of the Democratic party inclination, Soc. Sec. is available for any… Read more »

EDWARD
5 years ago

I hear that many young people think they will never collect a Social Security check even though they work every week and have it drawn from their pay and the employer. Those of us who are older please tell them not to think this and especially not to “SAY THEY DON’T EXPECT A SS CHECK”. Why, because if the politician’s come to believe they don’t expect a check they’ll make they never get a check. They will spend that money on something else. Time and again they have proven this to be true.

Lincoln Sorensen
5 years ago

Rik nailed it!!! Politicians are so far removed from reality and sooooo bought by special interests that We The People have no hope if we keep voting for them, no matter the party, although Republican is the only option this next time around. Dr. Ben Carson refers to special interests as “the 4th branch of government and the most powerful. Why do you think dental care is not included in Medicare? The most powerful special interest of all the big pharmaceutical companies lobbied against it. They want bad dental hygeine to cause seniors to be susceptible to other maladies so… Read more »

DaveM
5 years ago

As for me and my family, in God we trust, i.e. not the malarkey that inhabits the state capitols and Washington DC. That said, my wife and I ran a successful business for over 20 years, despite having to contend with the anti-free enterprise pro-socialized big government regulation politics here in the Madison WI area. We’ve adopted a conservative life style where we spend less than we make, and have so for the majority of our married life. We’ve embraced the Judeo-Christian philosophy of education and hard work, as espoused by Dave Ramsey and others, because it works — in… Read more »

Ivan Berry
5 years ago

‘Nuff said. Even PaulO’s comments have some validity, what with the Bail outs of both domestic and foreign banks, too-big-to-fail business, wrapped in a package of losses being socialized while profits were privatized.
What is it going to take to get the people aroused to do something about the direction we are heading?
We are about out of time, Folks.

MLC
5 years ago

Just hit 65. I’m self employed but not doing well. Can’t seem to get hired at a paying job. Seeing MD on Tues. for a new variety of garbage that hit me this winter. See the words to the theme song from M*A*S*H. It is an option for the near future.

Rik
5 years ago

The reality is that the America of our 50’s and 60’s generations no longer exists! … Gone are the dreams of a lifetime of hard work will reward oneself with financial security in retirement. Where are the jobs? … Where is there even job security? … A friend of mine began working delivering newspapers at age 8 and now after a lifetime of working 60 years, has nothing to show for it. He is single, having married at 21 and divorced at 28. No children, never remarried. Worked continuously in the newspaper and print industry. Never made more than 25k/yr.… Read more »

Andy
5 years ago

With the exceptions of Paulo’s class warfare comments, I am encouraged to hear very enlightened comments from the previous members. I pretty much agree with all the comments; they echo my observations as well. As I see it, we as a people have lost our morality based on the traditional Judeo/Christian principles of our fore-fathers first of all. Honesty is the first principle sacrificed on the alter of politics, Newly elected representatives seem to charge off to Washington with high ideals and are quickly swallowed up by the machine. As a conservative, John Boehner and Mitch Mcconnell are no friends… Read more »

Bruce
5 years ago

You all forget that the federal reserve can be “federalized “also. it will the be used to print our way out of debt. Just like ever other country does now. That way the federal government can make a profit off the money sold. Of course inflation will run away but hey printing money out of thin air ? Why not every one else is doing it.

mike
5 years ago

Does anyone remember that social security was going to be put in a lockbox and no one was going to touch it? Seems that congress realized that they could raid it and leave and iou to be “paid back” at a later date. Well time marches on and the ious are there but the money isn’t and no one….and I do mean no one in congress is dong one damn thing to fix it nor address it nor anything else. You really don’t think there is gold in fort knox do you? They raided that long ago too! Expired government… Read more »

fordbd
5 years ago

First of all, stop calling it a recovery. It is not a recovery. We still have over 92 million capable workers either not working or not looking for work…

http://www.dailymail.co.uk/news/article-2537585/More-Americans-not-working-92-million-people-workforce.html

Kelly
5 years ago

I have no hopes of ever retiring. I know as will be gone and who know what will happen to my 401K . It’s totally depressing when you have worked all your life since the age of 15, over 50 now. Called in sick to work twice in my life. I am so glad we can still support all the welfare but not the hard working Americans!!

PaulO
5 years ago

“But, for the most part, those who have gone back to work are making less money,” according to Dan Weber, president of the Association of Mature American Citizens. “CEOs are paid an average of 231 times more than the average worker and their compensation increased by 725% between 1978 and 2011. Furthermore, the average annual earnings of the top 1% grew by 156% between 1979 and 2007, and by 362% for the top 0.1% in the same time period!” For the richest Americans; CEOs, Investment Bankers and Hedge Fund Managers wages have increased astronomically. However for the other 90% of… Read more »

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