Originally Posted by slsurface
The problem is, there is no way for the average person to save enough money for retirement without investing in the stock market.
What's an average person?
What's an average retirement?
Also, going to have to consider that the level of consumption is droping, people are rethinking all choices. More and more families will move away from the idea that multiple generations don't live together.
The modern idea of retirement is very new... 60+ years ago, many of the elderly lived with their children/ other family members until they died. The idea that retirement is some golden age of golfing, traveling, club med and puttering in the back yard all day is new and not really the norm.
Heck back then there really wasn't retirement at all, many worked until they were physically unable to move from the bed and even then they still had chores like sewing, knitting and childcare.
Like everything else in the recent past, expectations are going to be revised to what is realistic.
As for stocks... normal savings accounts, bonds, money market accounts are pretty darn safe (as safe as any fiat based money system up to it's eye balls in debt and facing inflation due to poor monetary policy from the Fed).
We have our expenses rather low, save about 50% of our take home. If we didn't have a dollar today in savings and just had to save cash for the next 30 years until retirement age of 65, we could easily have $500K set aside; And that isn't counting on any interest income from a simple savings account.
I do acknowledge that not everyone has the ability to save what we can at this time, and I also recognise that we very well might not make as much as we make now in the future, but we could lower our expenses even further and we can adapt.
I think that's most important above anything else, be willing and able to adapt to the changing enviroment instead of harping about the past. The past can not be changed, only one's future can now be addressed.