July 22nd, 2012

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Retirement Fail

 Most people will be poor when they retire.  However, a mandated retirement plan isn't likely to help; that's what Social Security is supposed to be, and people are poor on that.  Mostly it's because people don't make enough to live on, let alone save a huge amount of money for a future time when they will earn nothing.  If you want to reduce or eliminate poverty, you need a more complex plan, and you need to ensure that people's basic needs are all comfortably met so that they have extra to save.