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  1. #1
    Unregistered Guest

    Default they may outlive their retirement money.

    Dear teachers,

    (Steelworkers, airline employees, and now those in the auto industry are joining millions of families who must worry about interest rates, stock market fluctuation, and the harsh reality that they may outlive their retirement money. )

    What does "they may outlive their retirement money" mean, esp. "outlive"? As far as I know, retirement money should be paid from age 65 until a person dies (in the US), right?

    A million thanks.

  2. #2
    Tdol is offline Editor, UsingEnglish.com
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    Default Re: they may outlive their retirement money.

    If you outlive something or someone, you live longer, so they will run out of money before they die. If they haven't saved enough, they could find their retirement income getting smaller over the years.

  3. #3
    Ouisch's Avatar
    Ouisch is offline Moderator
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    Default Re: they may outlive their retirement money.

    Quote Originally Posted by Unregistered View Post
    Dear teachers,
    (Steelworkers, airline employees, and now those in the auto industry are joining millions of families who must worry about interest rates, stock market fluctuation, and the harsh reality that they may outlive their retirement money. )
    What does "they may outlive their retirement money" mean, esp. "outlive"? As far as I know, retirement money should be paid from age 65 until a person dies (in the US), right?
    A million thanks.
    That is the theory, yes. But in reality, people are living much longer than they used to, and some pension funds have limited amounts of money. Social Security will (hopefully) always be there sending monthly payments, but that's not enough for most folks to live on. That's why most businesses provide a pension as part of their benefits package. However, things happen....companies go bankrupt (as has happened to many steel mills in the past 10 years), companies go out of business, etc etc. The Pension Benefit Guaranty Corp. is the governmental body that is supposed to take over and pay the pensions to people whose companies have ceased to exist, but there is the very real possibility that they could run out of money one day, too.

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