Baby Boomers Are the Walking Dead; Half With No Retirement Savings At All

[Carlybee]

And how much did college cost during those days?

I don't have a chart with me. You're missing the point. How many kids benefitted from their boomer parents saving for years for them?

 

[devil21]

Looks like a bunch of people lived beyond their means, and/or didn't invest properly.

Don't mind the media running brainwashing on the people all that time. Indeed, bad choices were made by that generation but it's quite obvious that there were many people flat out lying to them for a long time, in a coordinated method, for their own selfish gain (and still do! Watched Fox News lately?). Media, government and bankers all sold a bill of goods and empty promises to them. It's certainly not as cut and dry as blaming the deceived for being deceived.

I don't have a chart with me. You're missing the point. How many kids benefitted from their boomer parents saving for years for them?

What? You mean that 'white privilege' that keeps being pounded down our throats lately while the ship sinks?

 

[Carlybee]

Don't mind the media running brainwashing on the people all that time. Indeed, bad choices were made by that generation but it's quite obvious that there were many people flat out lying to them for a long time, in a coordinated method, for their own selfish gain (and still do! Watched Fox News lately?). Media, government and bankers all sold a bill of goods and empty promises to them. It's certainly not as cut and dry as blaming the deceived for being deceived.





What? You mean that 'white privilege' that keeps being pounded down our throats lately while the ship sinks?

I don't call it white privilege. I call it sacrifice.

 

[devil21]

I don't call it white privilege. I call it sacrifice.

I agree but that's the divide and conquer at work. If a global reset really is ongoing then some will justify the theft as 'social justice' or some such horseshit.

 

[oyarde]

And how much did college cost during those days?

I never paid for any . My employers pd .

 

[heavenlyboy34]

As a group, the millennials suck. Tons of arrogance and entitlement with little accomplishment or reason to justify it.

GenX, GenY, and Boomers have their share of those types.

 

[Matt Collins]

massive inflation robbed a lot of people of their retirement, way to blame the victims

The victims didn't vote out the elected officials who allowed this to happen

 

[devil21]

The victims didn't vote out the elected officials who allowed this to happen

It's telling that you haven't changed your sidebar to Supporting Member and Stand With Rand though there's pictures of 'you' with Rand.

But you're here blaming people for being screwed over while their elections were rigged, their access to information was severely limited and 'truth is treason' is the norm. Hmmm......

 

[Paul Or Nothing II]

Looks like a bunch of people lived beyond their means, and/or didn't invest properly.

This.

Hehehehe. The old folks are always barking at the young about how messed up they are compared to kids "in their day". And the young folks are always sneering at the old folks and crowing about how much better they will be at running the world. And nothing really changes.

True lol

 

[Acala]

The victims didn't vote out the elected officials who allowed this to happen

Get used to it. You will see the same thing your entire life, as I have. Until the machine breaks.

 

[Bossobass]

What was your pay when you were 40, adjusted for inflation? How much of it did you pay in taxes? Did your wife work?

How many of your working years were you legally mandated to spend close to 20% of your take-home pay on medical "insurance"?

How many of you and your buddies' kids are mentally retarded? Was it more than 1 in 68 - which is just the current "Autism" figures?

How many days a week did you log in from home late at night to take care of something for work?

How many times did you have to spend a month's gross pay on a lawyer to get out of a negligence charge because your kid walked around the block?

I think before you start passing your shoes around and telling people to walk in them, you might want to see what our shoes are like.

I'd also like to tell you that I get that your generation didn't know any better, but if there's one thing I've noticed about the majority of baby boomers, it's that they won't fucking listen when you try to tell them. All I get from FTF encounters on that score is exactly what you dished out here: Just do what I did and everything will be fine. Well everything isn't fine - it's pretty totally fucked. So I don't buy that, and I don't get why this isn't apparent to more of you.

We graduated high school in 1971 stamped ONE-A facing mandatory induction into the meat grinder.

Nixon closed the gold window and instituted wage and price freezes.

Minimum wage in the recession was $1.60/Hr with zero benefits.

The lowest income tax bracket was taxed 50% more than today. The top income tax bracket was double what it is today.

The price controls and FED bankster scheming caused gas shortages and saw the price of a gallon of LEADED gas quadruple while cars guzzled double on average what they require today.

Inflation was double-digit for a decade with housing prices rising faster than 4 jobs (2 for each of the wife and I) could save for. There were no creative financing schemes for a mortgage. It was 20% down and we "lucked out" scoring an 11.75% APR.

The 80s began with 22% interest and the worst recession since the GD.

We weren't offered a credit card until we were 30 years old.

Our parents kicked us out of the nest and told us they were tired of feeding us. We care for them to this day.

We had a blast, despite losing 4 of our 6 sons, being disgustingly underpaid, being charged usury for half our lives and seeing one each of our siblings die way too young and we never whined to anyone (because no one would have given a piss about a whiner). We built our first house on a couple acres in the country by age 26 with 60% down payment. We've saved enough to retire, as Robert Redford's character said in Spy Games, somewhere where it's warm and where they have no federal reserve bank and so have to balance their budget. Under the radar.

I hope you find your way through life's maze of bullshit and maintain a happy demeanor along the way.

I just get severe roll eyes when a brat who knows shit about American history whines about the boomers.

 

[Carlybee]

The victims didn't vote out the elected officials who allowed this to happen

Oh give me a break. Every elected official has allowed it to happen. Just because we vote conservative doesn't mean a conservative always wins and even when they do, just as the last Congressional election...they don't do what they said they would do.

 

[Matt Collins]

Oh give me a break. Every elected official has allowed it to happen. Just because we vote conservative doesn't mean a conservative always wins and even when they do, just as the last Congressional election...they don't do what they said they would do.

Who said anything about "conservatives"?

 

[Matt Collins]

But you're here blaming people for being screwed over while their elections were rigged, their access to information was severely limited and 'truth is treason' is the norm. Hmmm......

The price of liberty is eternal vigilance... it seems that most people have either forgotten or don't understand this concept

 

[Carlybee]

Who said anything about "conservatives"?

Conservatives should be the ones to legislate on the side of changing these sort of things, no? Who were you referring to as victims?

 

[euphemia]

Looks like a bunch of people lived beyond their means, and/or didn't invest properly.

Or they have less disposable income because prices have gone up, and the job market continues to chew up middle agers and just spit them right out. We live pretty small and are what I call "investment poor." We have saved for years, but I don't think it will be enough. I had to back out of my retirement plan at work because my current expenses (mostly medical) keep going up and because it is a horrible plan. I haven't had a plan available long enough to save real money, anyway. But my husband lost his job last year and is working now for about 30% less. Not only does that mean less to save, but it means the drop in income will be reflected in less SS when we retire. We never planned to rely on Social Security at all, but I think we are going to be forced that direction. Obama has forced us into a way of life we never desired and do not want, but there is no changing it. The government takes their cut off the top and they make life more expensive all the way around.

The way the law is written, some private plans are not available if there is a work plan. It's screwed up. People should be able to save the way they want and shop around for the best plans.

 

[tod evans]

Wonder how many bitching Millennials benefitted from their boomer parents providing way more for them when they were growing up including in some cases college educations, than their parents ever had.

Irrelevant!

Millennials now have their own voice and are scrabbling to be relevant in their own right.

Much easier to complain about shouldering the exact same burden as their parents than to actually do something about it.

If the younger generation were truly oppressed they'd take up arms instead of signs and slogans.

What it boils down to is now that debts are due paying them sucks and folks of our generation have closed the loopholes of default which only leaves two options;

1) pay and whine
2) don't pay and fight

I'll back the fighter every time, especially when they're fighting government.

 

[oyarde]

I am not sure how much of this matters now as much as it will later on . As an example , avg boomer couple I know would draw at least 2400 a month in Social if both were alive , and many of them live in a home that is pd for with some land or large lot .Even though I live in a low cost of living area , most of those would sell , quickly in the 80k to 150k range or more.

 

[Ender]

We graduated high school in 1971 stamped ONE-A facing mandatory induction into the meat grinder.

Nixon closed the gold window and instituted wage and price freezes.

Minimum wage in the recession was $1.60/Hr with zero benefits.

The lowest income tax bracket was taxed 50% more than today. The top income tax bracket was double what it is today.

The price controls and FED bankster scheming caused gas shortages and saw the price of a gallon of LEADED gas quadruple while cars guzzled double on average what they require today.

Inflation was double-digit for a decade with housing prices rising faster than 4 jobs (2 for each of the wife and I) could save for. There were no creative financing schemes for a mortgage. It was 20% down and we "lucked out" scoring an 11.75% APR.

The 80s began with 22% interest and the worst recession since the GD.

We weren't offered a credit card until we were 30 years old.

Our parents kicked us out of the nest and told us they were tired of feeding us. We care for them to this day.

We had a blast, despite losing 4 of our 6 sons, being disgustingly underpaid, being charged usury for half our lives and seeing one each of our siblings die way too young and we never whined to anyone (because no one would have given a piss about a whiner). We built our first house on a couple acres in the country by age 26 with 60% down payment. We've saved enough to retire, as Robert Redford's character said in Spy Games, somewhere where it's warm and where they have no federal reserve bank and so have to balance their budget. Under the radar.

I hope you find your way through life's maze of bullshit and maintain a happy demeanor along the way.

I just get severe roll eyes when a brat who knows shit about American history whines about the boomers.

Welcome to The Matrix.

 

[Ronin Truth]

Yep, the government will just let the Boomers all die, homeless, broke, sick and starving in the street.