What if… to solve the budget problems we did this. All new employees will not get any pension benefits, all current employees within 20 years of retirement at age 75 or more, will be expected to put in 3/4 of the towards cost of pension. There will be more options than the stock market, such as raw land investments, “Gracious Good Will” stocks. What is already call Socially Responsible Stocks or Socially Responsible Investments (SRI).
Locally you could belong to a group that purchase foreclosed homes to be rehabbed and greened (by habitat for humanity?) for first time buyers (we benefit from the mortgage). New employees will have these options too but outside of the employment sector and in the private one instead. Wean us off the pension baby bottle and more on us to develop our own retirement. In other words, occupy your life, grab the reins of what you want to do. You can be at the bottom 99% or you can help pull up the other 99% by learning more what is needed to improve all of our lots in gain more middle class stability for all of us. Plus, think about the children.
Am I nuts? No. For example, “Gracious Good Will” stocks will be stocks that have IPOs for humanitarian causes. Water wells, malaria vaccinations, schools and teachers as well as supplies, medical centers etc. Other can be for conservations and many other methods of investment that have more investment in community building than just products. People invest in these and also in small loans and as some places prosper, we can to. Yes some will fail or not meet standards quickly. This would give the Stock Market some serious composition and a run for their money in working to keep the faith, at least I like to think so. Also by booting the employer out of the picture, we can gain more control over what we want to put into, how much and where. I lost a lot of money because I thought the money I put down would remain safe and I would only lose what I gained “on paper” if things crashed. I would never have chosen to play the stock market because I did not have money I can afford to lose at that point.
Credit Unions can be a good place for these type of community “stock market” types of things. We can start local and work up. It will also make us have more direct contact with how we live in our world and build up our wealth. I have dreamed since I was fourteen of having my own land and home. Not sure if I can still pull that off, but not entirely giving up on it either. I just know for me, the stock market has robbed me blind twice through what I thought was honest pension plans.
There is information out there for young people to learn about this. I just did not have access or awareness to know where and how to get to that information. Being Deaf can do funny things like that. Don’t let that happened to you. Things are a lot better information wise now than they were when I was in my 20’s.