Personal Finance and Investing

I didn't save a dime until my mid-fifties but we have a comfortable retirement today, including buying our first house in our sixties. The secret? Social Security and Medicare. A modest *defined benefit* lifetime pension, with good health insurance to supplement Medicare. A strong union while I was employed. That's the secret.

The American labor market does its best to suppress wages as low as possible. That's not a market that will ever support retirement savings for most people. As long as American businesses low-ball wages as a matter of principle, it will not be possible for most workers to save their way to retirement.

Organize, or work until you drop.