To the editor: Thank you for publishing economist Teresa Ghilarducci's op-ed on America's broken retirement system.
My grandparents and parents enjoyed long, comfortable retirements from the 1950s to the 2010s. Bank interest earned on savings was a stable component of their retirement income.
When did the American public accept that it's okay for banks to pay interest rates less than half a percentage point? Banks claim record profits year after year; They are federally regulated and most deposits are guaranteed by the Federal Deposit Insurance Corporation, but their loyalty is to shareholders and not depositors.
Can anyone explain when this all changed?
Michael Krubiner, Valley People
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To the editor: Not everyone wants to retire, although retirement seems to be considered a right that everyone should have. But for older people who are healthy, engaged and want to continue making a valuable contribution to society, a steady diet of leisure is not attractive.
After retiring from UCLA, I was very happy when they called me to work for several more years.
I think the key is to find a job that you really enjoy and want to continue for as long as you can. Doing this often will allow you to live longer.
Mary Daily, Wake Forest, North Carolina
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To the editor: If I didn't know better, I would read this article and think there is no Social Security, Medicare, food stamps, or low-income housing to help seniors survive into their golden years.
How can a serious argument for new or improved government programs for retirees not even mention the current regime and why it is not enough?
Jeffrey Vaughn, Encino
