How to financially deal with old age and zero pension from Social Security?

[pousinha]

The point is the same since decades, since the beginning of the third millennium. Economists don't stop to point out who was born since the eighties won't receive any governmental pension because Social Security is broken. And it's also said, who was born in the seventies, will only receive a miserable pension facing miserable conditions (for ex., third aged forced to work until 75 or more years old to begin to receive a pension). Economists in the EU and each country that aims to become part of the OCDE (at least mine) don't stop to spread the same old song. Here in my country, people say it's a giant lie, at least regarding the Brazilian finances, aiming to enrich more and more the political class if our Social Security stops to pay pensions. In any way, be that as it may, such a circumstance would mean the social collapse. Millions of third aged not any more in physical condition to work and no pension to survive. How to overcome such a gloomy circumstances?

 

[eLdavis]

The things we do now, and the choices we make now would determine how our future would be. The solution to this is to start saving and investing now in preparation of your future.

 

[Augusta]

We just have to save money towards old age. We can't do much at old age but we can save towards living better then

 

[aninditasen]

I

The point is the same since decades, since the beginning of the third millennium. Economists don't stop to point out who was born since the eighties won't receive any governmental pension because Social Security is broken. And it's also said, who was born in the seventies, will only receive a miserable pension facing miserable conditions (for ex., third aged forced to work until 75 or more years old to begin to receive a pension). Economists in the EU and each country that aims to become part of the OCDE (at least mine) don't stop to spread the same old song. Here in my country, people say it's a giant lie, at least regarding the Brazilian finances, aiming to enrich more and more the political class if our Social Security stops to pay pensions. In any way, be that as it may, such a circumstance would mean the social collapse. Millions of third aged not any more in physical condition to work and no pension to survive. How to overcome such a gloomy circumstances?

It's the same in India. They have stopped pension to government employees and the pension they give to the poor old people is not enough to run them.

 

[pousinha]

I

It's the same in India. They have stopped pension to government employees and the pension they give to the poor old people is not enough to run them.

It's likely India would like to be part of the OCDE. All OCDE countries face the same Social Security mishap. The point is: for ex., it's not the same thing to heavily work at 75 years old in Denmark, where fairness and meritocracy are the password and to heavily work at the same age in a politically and socially corrupted country as Italy, where the password in the jobs market is bossing and mobbing.

The things we do now, and the choices we make now would determine how our future would be. The solution to this is to start saving and investing now in preparation of your future.

We just have to save money towards old age. We can't do much at old age but we can save towards living better then

Unfortunately, to save can only be done when you earn enough. I'm not thinking about people who don't save because they live a spendthrift life, but people sticking with underpaid jobs who are forced to support various family members (in my country, various people support friends and their families too). In my country, you observe both situations: poor people that spend into futilities and poor people only counting on a minimum salary that support their married unemployed children together with their grandchildren and sometimes the unemployed children's friends too. How to save in such a circumstances? How to save when people live on a small salary that the government doesn't adjust to the inflation since the year 2000 (it's really happening in Italy) and the food costs the double compared to the last year?

 

[Starmix]

Getting older cannot be persuaded with an appeal. It simply moves naturally but the problem of old age is money which is why we need to have a retirement or retirement plan to avoid despair when old age knocks us down.

 

[pousinha]

Unfortunately, the mishap is always the same: to have a retirement plan, you need to save money thinking on this specific purpose. But how to save when you must stick with underpaid jobs and many family members (and maybe their friends also, as it happens in my country) to support?

 

[Starmix]

Unfortunately, the mishap is always the same: to have a retirement plan, you need to save money thinking on this specific purpose. But how to save when you must stick with underpaid jobs and many family members (and maybe their friends also, as it happens in my country) to support?

That's so devastating, no one can save if that's the situation unpaid jobs. How could the poorest of the poor survive?

 

[pousinha]

Unfortunately, in my country these people live begging. They run the trains (a train in Latin America looks like the worse European buses) to beg to the unknown passengers. They stop at the entrance of a drugstore, begging to unknown pedestrians to purchase their prescribed drugs. They receive food from the charity social welfare of churches. They beg for social government sales to reduce the amount of their bills. In a few words, a very pitiful life

 

[freelancermaria]

Unfortunately, the mishap is always the same: to have a retirement plan, you need to save money thinking on this specific purpose. But how to save when you must stick with underpaid jobs and many family members (and maybe their friends also, as it happens in my country) to support?

Saving money can be a daunting task, especially when one has an unstable online or offline job that does not pay well. I am currently facing this challenge, but I am
quite grateful for my side hustles, which although not significant, allow me to save a bit each month. There are times when I feel like giving up, but quitting is not an option.

 

[Starmix]

Unfortunately, in my country these people live begging. They run the trains (a train in Latin America looks like the worse European buses) to beg to the unknown passengers. They stop at the entrance of a drugstore, begging to unknown pedestrians to purchase their prescribed drugs. They receive food from the charity social welfare of churches. They beg for social government sales to reduce the amount of their bills. In a few words, a very pitiful life

Those people need help. To be hungry is not easy to deal especially the young children. They might collapse from hunger . God gives us bounty which many take for granted which is why they struggled.

 

[pousinha]

There is the need of campaign to encourage schooling and to avoid spending for futile parties (hoping in my specific geographic area people would be willing to hear, what I see difficult). A lot of time, people in Latin America end in such a circumstance because illiteracy and semi-illiteracy leads to underpaid jobs. It isn't old people's fault: during their time, it was too difficult to access schools cause the distance from home, but the youngsters usually haven't any excuse.

 

[King Belieal]

It is easy for career entrepreneurs to deal with old age and no pension. For someone that has spent 40 plus years building businesses, those businesses should be able to pay him in old age.

 

[neku]

Officials ensure that experienced professionals are not getting any paid work, so they have to manage their savings very carefully, reduces expenses to the extent possible so that they can have some money in their old age.

 

[pousinha]

It is easy for career entrepreneurs to deal with old age and no pension. For someone that has spent 40 plus years building businesses, those businesses should be able to pay him in old age.

Yes, of course...but what in the case of, for ex., a mason? How a 70 years old mason is still able to climb the scaffolding at 200 feet of height? Obviously, supposing he must work even during his 70 years old to grant his daily bread. As in my country, the next Social Security regulation law of 2027 will state that 70 years old is the minimum age to get a pension. And whoever was born since the year 1980, won't receive any Social Security pension at all.

Officials ensure that experienced professionals are not getting any paid work, so they have to manage their savings very carefully, reduces expenses to the extent possible so that they can have some money in their old age.

This is exactly what I'm doing. I'm mostly reducing my household expenses as much as possible because I'll be caught by various Social Security regulation laws so I'm calculating I'll see a Social Security pension between my 69 and 73 years old, if I'll still be alive at that age (I don't believe it, due to my health status ).

 

[Stardom22]

l think we can embrace the establishment of our saving for the retirement on the social security funds for that matter. The savings on little by little finally builds up and become so huge that it can help you in the future.

 

[pousinha]

Funds in my country, unfortunately, result in a monetary loss. They aren't good at all. Very better is the Federal Treasury, but it's possible to save and invest when salaries aren't too small and/or we don't have many unemployed family members to support.