The baby boomer generation will be long on life expectancy but short on income. Amid vanishing pensions and faltering 401(k) plans, FRONTLINE investigates how middle-class Americans might fare in their retirement years. (Aired 2006)
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Two main strategies for funding retirement are lifetime pensions and 401(k)-style savings plans, but both are in trouble. Buffeted by pension cuts, corporate bankruptcies, and stock market crashes, most boomers can now expect to be working into their retirement years. In the 2006 documentary, Can Your Afford to Retire?, FRONTLINE correspondent Hedrick Smith investigates the financial crisis and what middle class Americans face in retirement.
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#Documentary #Retirement #401k
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FRONTLINE is produced at GBH in Boston and is broadcast nationwide on PBS. Funding for FRONTLINE is provided through the support of PBS viewers and by the Corporation for Public Broadcasting. Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen.
CHAPTERS:
Prologue – 00:00
The Decline of Corporate Pensions – 01:03
How Company Bankruptcy Impacts Pensions – 06:22
The Pros & Cons of 401(k) Plans – 24:22
“Shifting From Lifetime Pensions to Lifetime Work” – 39:31
Credits – 53:05…(read more)
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I don't understand why people work their entire lives at jobs they don't enjoy. What's the point? We only have one life to live. If you like what you do you don't even contemplate retirement. How else would you spend your time? I know several individuals who could have retired decades ago, but they work all the time.
All of these problems start because of greed and selfishness.
Thieves
2:39 unless you’re a worthless federal employee lol me.
Pensions die with you. They anchor companies with debt in a world where everyone is benefitting from jumping from company to company. Educate yourself on the options and invest in your retirement. Pensions never handed people 100k a year while still leaving an inheritance to heirs
I definitely can’t retire
No. I will be a slave until I die. Then I will be turned into Soylent Green for the Republican Taliban or dog food for their pets…
now we know the only way to retire is to be rich so most of us will work til our bodies fail
Retirement is wonderful if you have two essentials — much to live on and much to live for. Invest wisely and get good returns.
This video is old. It had first aired in 2006!
As usual the over paid greed dog in charge that is responsible for this gets paid the most and way more than he deserves. How do they sleep? Maybe his next life it will be his turn to be crapped on.
I will need to retire I am 40 years old and I have been permanently disabled since I was 38 years old. I have frontal temporal lobe dementia
Few years ago, majority hoped for a downturn so they could invest and come out big with more profits like most investors did, now an opportunity has presented itself and they’re still holding back. Nothing spectacular come out of playing it safe, maximum returns can be obtained with maximum volatility.
When they ripped off every time out of the social security system bunch of lying cheating low-life politicians I'm giving money to illegal aliens that shouldn't even be in our country our government is the biggest ripoff ever the biggest financial theft in American history is a social security administration somebody needs to be held accountable for this s***
I can see where quiet quitting through these companies a curve ball
The more they cut the less employees work and spend.
When the employees were making concessions, were the executives also taking pay cuts and getting benefit reductions???
Having employees "take responsibility" for their 401K's is a disastrous solution to the pension plan. The average American knows literally nothing about how investments work and what they should do for their future. No part of the education system teaches anything more than checkbook balancing and it shows.
❤
This is 200….add 2008…not good
Americans take better care of their criminals and stray dogs than they do of their elders and law-abiding citizens with no income
This is flat out stupid! Chapter 11, is a legal way to preserve some/any retirement at all. It is really bad, and I too am retiree, but that is not going to help him. If he didn’t do it, he would begetting nothing. So the choice is $00000,00 or $2,000/month. He too would have taken the option he was given. Too bad, and I wish him the best, but at least he has something coming in.
Robin isn't too bright. Get screwed and still stick around.
How in hell is this not fraud?
crooks robbing the idiot's dependent minions. you're all fools because this is taught in high school civics and in HIS story that your gonna get fu*ked if you do not do for yourself. you cave-dwellers suck.
Don't just rely on investment funds, also think about co-housing with family members or friends. This is where you can save the MOST money. Who are you going to count on when you become half disabled? Think about that!
Your family is your best insurance policy in life and in retirement. The investment is a backup plan in case nobody in your family is reliable. When you live together, share housing, everybody saves tons of money and everyone shares responsibilities so everyone's life is easy – it's a win win.
Mi
The way our government and crooked politicians are running the country says no we cannot, we simply work till we die at least if your healthy enough too