Do you save and invest for your third and fourth age?

[pousinha]

I imagine (if I don't mistake) that people living in the eastern countries don't face too many worries about their third and fourth age, as they can retire and receive a governmental pension before they'll be 55/60 years old. Not the same in the western countries. A friend of mine from the Netherlands told me they can retire only after their 70th birthday. And that's the same trend in the EU countries. In the Caribbean countries and Latin America it's even worse than Western Europe, as the World Bank says the Social Securities are so broken at the point the retiring age will soon become 78 years old (remembering Caribbean and Latin people count on a life expectancy between 72 and 75). Western European people are saving and investing for their third and fourth age (when they don't find themselves under the high middle-class, during such a current era), Caribbeans and Latins face difficulties, as most of them live below the poverty line. Not a big deal...

 

[eLdavis]

Over here we have to save, invest and prepare for our old age, this is because even if you get government pension, the pay is not reasonable.

 

[Augusta]

I just believe we just have to save for our lives. If you know that you need to, then you should go ahead for it.

 

[Starmix]

How pitiful are those people who can't retire earlier and continue to work until age 70 or 78, That's cruelty from the government. My country requires employees to retire at 60 and or 65 depending on their choice. If they choose 65,they are still obligated to apply for the retirement at 60.

 

[pousinha]

It looks like the true guilty are the economists and the World Bank. They don't stop to complain about the broken Social Security, at the point the government (weaker than the World Bank) cannot help but obey to the economists' will.

 

[Starmix]

It looks like the true guilty are the economists and the World Bank. They don't stop to complain about the broken Social Security, at the point the government (weaker than the World Bank) cannot help but obey to the economists' will.

That is so crucial for the well-being of the old people who continue working instead of enjoying the remaining years of their lives with their families.

 

[pousinha]

Obviously, economists who work in their silky offices and bankers who work in their velvety bureaus don't care at all. Young people should study with the aim to leave these countries as soon as possible.

 

[King Belieal]

I hope to have a trans-generational investment that if managed well, the third and fourth generation should benefit from it.

 

[pousinha]

Average native people in my current country have none investments. In addition, their trend is to spend to the last penny and moreover, to get indebted even when they earn above the strictly basic. Not that big deal.

 

[Suba]

In my country, early retirement for civil servants, soldiers and police can be applied for after the age of 45 and the period of service has reached 20 years, while for private employees early retirement can be applied for at any time but of course they will only get a small severance pay.

 

[pousinha]

Soldiers are considered a privileged category in my current country, as they earn a so named golden pension (worth of wealthy people). A lot of native think it's their fault also, if the Social Security is broken (as they receive an amount able to support dozens of people).

 

[Sanjeev]

Here the retirement age is 58 years and we don't get pension if we work in a private sector so we have to save money for our old age.

 

[pousinha]

Here the retirement age is 58 years and we don't get pension if we work in a private sector so we have to save money for our old age.

I suppose it's a political manoeuvring to avoid overcharging the Social Security. As Social Securities in the western countries don't separate private from public sectors.

 

[Augusta]

Hopefully I can so that my descendants can live better but if not no too much pressure same

 

[pousinha]

The worst mishap is inhabitants in western countries have been fooled by the Social Security mirage (you work along 20, 30, 40, etc. years and then the government will take care of your third and fourth age). Such a mirage showed its benefits only to the Boomers (and the two previous generations), but discovering Social Security is in fact a Ponzi scheme (as an Italian friend and colleague of mine says), obviously it can't last during a long time.