Monday, October 5, 2009

"Can I Afford to Retire?"

1. What percentage of retirement contributions came from businesses in 2000? What percentages came from workers?

2.What happens if people's planning for retirement does not provide enough income? More than likely the person would have to go back to work. The person would have to go back to work until they have enough money to retire which may not happen.
3.When a business enters bankruptcy, which gets paid first-- worker's pensions or debts owed to banks? Why is this case? The debts to banks are paid first. Because the owners are more interested in saving the company, than paying pensions.
4.According to the film, are people with high incomes or people with low incomes more successful in investing their retirement incomes? I believe the people with high incomes. Because the people with high incomes have more money to save.
5.What options are there for people in the United States who outlive their savings? There are many options but the main ones include returning to work, or maybe even living with a relative. Another option may be moving into a nursing home, or somtimes even the streets.
6. What factors do you think might keep people from saving enough money for retirement? One factor and probably the most common is the person just doesn't make enough money to save that much for retirement. Another factor could be that the person loves to spend money on junk and doesn't thinlk about retirement until it's too late.

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