February 26, 2013 at 7:00 AM
Future U.S. retirees less financially secure than generation before them
Financial security is being challenged for current retirees
It’s been a week since Michael A. Fletcher’s article appeared on the front page of The Times, and it still resonates — unpleasantly so — with many, like my wife and me [“Financial outlook grim for future retirees in U.S.,” Feb. 18]. The reality is that the economic perils described for “future retirees” (baby boomers) are already fully vested in the presently retired elderly. The presently retired elderly worked hard, saved religiously and entered retirement with a sound plan that would extend their Social Security, company pensions and hard-won savings through their final years.
Well, our Social Security is threatened by the vermin in Congress, half our pensions are consumed by much-needed health insurance and prescriptions, and the interest income from savings doesn’t exist thanks to greedy Wall Street bankers — 0 percent interest goes nowhere.
My wife and I, though more comfortable than many, may start scouting for an eventual place to live under a highway overpass.
Mr. Fletcher, the scope of your article was woefully inadequate.
–Jim Cornwell, Kent
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