Quote:That may not have been the original intention, but it has become the reality for many, and not just because they are poor planners. Some employers have used the existence of SS to justify not offering retirement benefits to their employees, and many people do not have the discretionary income necessary to invest in their future.

 

I don't know if the existence of SS or not motivates employers to offer retirement benefits, but that's beside the point.  Retirement benefits offered by employers (401k for example) is an added benefit to an employee's wage.

 

Contrary to popular belief, extra benefits such as vacation time, sick days, retirement plans, health plans, etc. are "extra" and "optional" things for employers to offer... at least it was (thanks obamacare).

 

Also, just because a company offers a 401k plan, it doesn't mean that they are giving their employees anything more dollar wise.  It's simply set up so that the employee can elect to save a percentage of their wages.

 

The fact of the matter is, most people do have the income (discretionary or not) to invest in their retirement.  The problem is we are a consumption society and not a "planning/saving for the future" society.  Any working adult is able to put aside $5 or $10 AT LEAST out of every paycheck.  Heck, even someone that earns minimum wage should be able to find a way to save 10% of their pay.  At the current minimum wage here in Florida, that's just $31.17 per week.

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