Is relying on government pensions worth it?

[Prinzip]

I mean, over the course of history, government-issued pensions to seniors were a rarity I'd assume. I don't understand people thinking that it's a certain they'll be getting any sort of money once they're in retirement.

In the past, people have relied on each other to survive. The old supported the young and in return they supported the old. That's how it worked. Who came up with relying on the money printer to guarantee their survival? The only thing that guarantees it is force, skill, and community. Nothing stops that or the other company from turning off the spigot and saying "Tough luck, buddy!" and siccing their attack dogs on those that resist.

With climate change and total biosphere collapse looming over the horizon, combined with an ever-expanding technological system and growing conflict, pensions will become a thing of the past for the simplest of reasons - the state is concerned only with its survival. Pensions will become obsolete... except when you're the one building the bombs!

[SpeedFreak1972]

Well I wouldn't rely on it, because a cut in your pension is possible and lets be honest here in most cases they aren't very high

I would at least have a backup plan (private pension or some other investment)

[Rendezvous 9]

Take the free money from gov't doesn't so bad, but just don't rely too much - it's like leaning unstable wall.

[////]

the problem here is that economy, just like astrology or alchemy in the past, isn't real science.

[sleeps]

there's a fine line between providing social security and being a leech in society

[Edward Von Worms]

if you want to watch the crime rate sky rocket good plan

[Prinzip]

Originally posted by Sparky mark phillips:

if you want to watch the crime rate sky rocket good plan

Crime sky rocket? Do you really believe they will care? By the time we get to the point where the governments cut their social programs, the military will be walking around with rifles on the streets, safety off, and with robot drones in tow. The state knows only force. They don't care about civilians, social welfare, or even the future of their economy - they rely solely on force for one singular purpose: the state's survival. The world can burn and everything die, but the state must survive.

[SpeedFreak1972]

It also highly depends where you live (country)

[mai72]

US and world pensions are in serious trouble.

1. People are living much longer which is putting serious strain on pensions. Look at it this way. Back 50 years ago when pensions were a thing for many people, not just government workers, the majority of people did not live till 70. And so, if you retired at say 55 you only had 10-15 years on a pension. Now, people are living much longer. Until their late 80s, and even 90s. That is 30-40 years on a pension. Add tens of millions of people and you see the problem.

2. Pensions have been mismanaged and looted. I live in NJ. Blue states are having a pension crisis because of the mismanagement and looting by wall-street. The people who are supposed to manage these pensions. In NJ, we are behind at about .43 cents per every dollar that gets distributed. Where is the money going to come from? Illinois is much worse.

3. People think pensions are a guarantee. They are not. Pensions have in the past been reduced by the government. And this just isn't a US issue. Its a world issue. Many countries that offer pensions are in a very difficult position because they just do not have the money to make their obligations.

4. You don't need a pension in 2025. Case in point. Ronald Reed. He was a gas attendant when he got back from his stint in WW2. He worked as a gas attendant full time and later part time as a janitor. people thought he was poor. But he wasn't. When he passed away, he left a fortune to charities and his family. A net worth of well over $8m. How? Invested in the Index S&P 500. Over a long enough time span anyone can get rich if they constantly invest in the top 500 US companies over a long enough time horizon.

In the end, I do not want to rely on the government for anything.

Who Stole my Pension:

https://www.youtube.com/watch?v=4rE5lUXYgm0&list=PLhYu53vk9HmUXF0kNAl7UR00AacxLa9TQ