Posted on 05/15/2014 1:08:17 PM PDT by SeekAndFind
I don’t think America can afford FOR the boomers to retire.
Let's start with the retirement of the boomer generation. Recent statistics show that the average American is woefully unprepared for retirement. On average, 40% of American families are NOT saving for retirement, and of those who are, it is primarily about one year's worth of income. Furthermore, important to this particular conversation, one-fourth of those at retirement age postponed retirement with only 18% being confident of having enough saved for retirement.
PFL
I could retire but the uncertainty of the future of health insurance is a huge factor.
He’s right. I can’t afford to retire. I plan on dying in the office.
De facto increase in the effective retirement age for most of the boomers who not saved up for their retirement with their own savings or investments.
People simply won't be able to afford to retire until they are in their 70s or until they are physically unable to work because inflation will have destroyed the purchasing power of their social security entitlement benefits Same with welfare recipients.
RE: He’s right. I can’t afford to retire. I plan on dying in the office.
Unfortunately I know of many businesses and companies that will LET YOU GO for your age.
They of course won’t give that as a reason ( age discrimination is illegal ), but they have WAYS of doing it.
AGEISM is rampant in America.
RE: I don’t think America can afford FOR the boomers to retire.
Unfortunately I know of many businesses and companies that will LET YOU GO for your age.
They of course won’t give that as a reason ( age discrimination is illegal ), but they have WAYS of doing it.
AGEISM is rampant in America.
RE: People simply won’t be able to afford to retire until they are in their 70s or until they are physically unable to work
Unfortunately, whether you can afford to or not, they WILL RETIRE YOU. Ageism is rampant in America.
Many are supporting two families because of divorce. Others have children and grandchildren living with them, or they are supporting them, because the younger generations are unemployed. That’s what happen in a lousy economy.
I’m 67 and self-employed. I can’t be fired, so I’m free to keep working, as I’m financially compelled to do. But, I wonder when my ability to work will take a hit? I already don’t have the stamina I used to have.
Plus some of them, like Sarah and Todd Palin, are only 50 years old.
“I don’t think America can afford FOR the boomers to retire.”
If that happened, the country would almost immediately collapse, because the kids are definitely not ready for the car keys.
The new phenomenon I expect to become very widespread are unrelated older Baby Boomers, and even Generation-X’ers moving in together as roommates. The logic in this:
One of them owns a house just for themselves; another has enough money that if they had a home they could have a good retirement; yet another is in good health and willing to do housework and take care of the others for room and board. Perhaps another who is still working but wants something at least somewhat like a home life.
Of course there are lots of variations on this, but all capitalize on the division of labor and mutual support and protection.
If their plan still has an empty room, they can even rent it to someone younger still, like a student.
The underlying reason is economy.
I used to think the Baby Boomers should set up communes for seniors. Once popular in the 60s, 70s the time has come to pool resources.
IOW, the participation isn’t dropping because boomers are retiring. It’s dropping because the economy is really that bad.
The inherent problem of communes is that those most attracted to them are least likely to want to work.
Add to that today the government wants to horn in to any kind of endeavor like small farms.
Interesting that, in your opinion, communism becomes our best hope.
I love the nasty contemptuous people on a thread like this. My reality is I will work til I die to feed the federal beast. My worry is when I can’t work any more. Then I simply don’t know. Trust God I guess.
But I love the thread bullies who know it all. If someone is a boomer and retired early, they are selfish scoundrels robbing future generations, but if one is in my boat, we are fools and simpletons for not investing and planning better.
There are some really loathsome people on line.
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