Younger baby boomers are facing a homelessness crisis as rents skyrocket and outpace Social Security

https://www.msn.com ^ | 9/26/23 | business insider`

[RomanSoldier19]

Baby boomers, especially younger members, comprise a growing percentage of homeless people.

Many are struggling to keep up with skyrocketing rents while pandemic aid dwindles.

A shortage of subsidized housing is compounding the problem.

While housing costs in the US continue to skyrocket and homelessness has become a crisis, no group appears to be getting hit harder than young baby boomers.

[Boardwalk]

The illegals will be housed in Trump Tower next.

[Dr. Sivana]

the 401k started in 1980, just about the time young baby boomers were entering the workforce. Many of the traditional pension plans were subsequently reduced as companies expected us to use the 401k plans as a substitute for them.

Numerous moves and job changes would have kept me from getting a serious pension anyway. I wasn't cut out to pick a company and be its liege for life. I could have done it with TAN Books if they didn't go bankrupt and move, but they didn't have any kind of plan, as TAN's finances were always on the edge.

[peggybac]

I account for every single penny. Excel worksheets are my friends, learning how to juggle my payments, using CareCredit when I can (card with no interest rate over 200.00 when paid by a certain date), etc. etc.

[MoochPooch]

This absolutely stupid article makes no sense about people that did not invest in their future, but paid their way INTO their future, only to learn they did it wrong . . . . . probably because there was no one (a father, for instance) to advise them, or they just plain ignored (or never went to in the first place) the advice that we REAL baby boomers have been trying to say and educate for 30 or more years.

An acquaintance of mine had quit her job 2 years before becoming eligible for a pension. By 62 she was flat broke. I told her to take early Social Security.

She said to me, "I never took into account that someday I'd grow old."

These kind of people tend to have youthful personalities, probably learning or mental disabilities. It's not that they grew old. They never grew up.

[MoochPooch]

I was born in 1963 and have nothing in common with those older than ten years than myself.

Those born 1956-1964 (late Boomers) are called "Generation Jones." They are quite different from the early Boomers. They are more practical & conservative, partly because, coming of age in the 1970s, they experienced the fallout of the hippie 1960s.

Myself a "Jones-er," I have nothing in common with anyone even 5 years older than me. To me, the early Boomers seem evil or weird. Talking to them, I feel like I'm in the Twilight Zone. They were the ones who morally messed up this country.

I relate more to the Gen Xers like my kid brother, who shares my opinion of the early Boomers.

[Mariner]

” Man, if you haven’t gotten your act together by the time you reach my age…just go move in with your kids.”

It’s very likely they raised kids as dysfunctional as they themselves are.

These people were barely surviving when they were 40yrs old.

[free_life]

Lost/sold everything and spent my life savings on medical expenses, plus still another $12k debt with interest. Two pensions allow me to live month by month.

[knarf]

Yep . . . . something like that.

[Old Grumpy]

Gee, that sounds familiar!

😊

[Old Grumpy]

I have a notebook that I keep my records, statements, etc. in. I get it out every couple of weeks and pour over it, to see how best to pay the bills. I call it “creative accounting.” I recently had to get my old pickup truck repaired, which cost almost $3000. THAT caused me grief.

But it will all get paid sooner or later.

[HypatiaTaught]

I agree 100%.

Excellent points!

Never liked hippies.

[TwelveOfTwenty]

The boomers should have thought about who would be paying for their retirement benefits before shipping those tax paying jobs out of the country.

[Oystir]

I know a 95-year-old thrown out of an apartment last week. Ugly.

[Elsie]

From what floor?

[Oystir]

Luckly, the ground floor. Still hurts.