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i'm your huckleberry. that's just my game.
MT, USA
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Posted: 3/27/2024 6:24:26 PM EDT
Marcia is in her 70's and she's still working.
She clocks over 40 hours weekly in her salaried human resources role at a medium-sized company. "As much as I love my job and what I do, in my darkest private moments, I think I'm going to die in this job. I'm going to die in this office because I have no way to get out," she said. For her, work means both dignity and a financial lifeline. She's far away from family and doesn't have help or a second income she can rely on. One of the main reason she hasn't been able to retire is that she's been "overwhelmed" by medical bills from both her husband's cancer diagnosis he died two years ago and now from her own cancer diagnosis. "I was hoping that my husband and I could retire together. And I guess my biggest misjudgment was I didn't plan on being alone financially, emotionally, and one could say I should have, but I didn't," she said. Marcia is one of many retirees who feel left behind by the American dream's promise that a life of hard work would be rewarded with years of rest. Now, as with many traditional economic milestones, retirement has become a luxury reserved only for those who can afford it. More people over 65 are working as pensions disappear, people live longer, and Social Security benefits are seemingly always in peril. It all points to a retirement crisis sweeping its way across the country. Business Insider spoke with several Americans of retirement age about why they are still trading their time for money. Their identities have been verified, but a few asked to go by their first names only to preserve their privacy. "If I get the chance, I would like to help other people by sharing the experience and supporting people and maybe finding some solutions to these issues," Marcia said. "I think older people become very invisible, and maybe it's going to take other older people to help heighten that visibility." moar |
I have a dream that my four children will one day live in a nation where they will not be judged by the colour of their skin but by the content of their shitpoast. - sierra-def
membership courtesy of TMS. thanks buddy! |
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Originally Posted By TxLawDog: If a person doesn't plan for their future, their future plans for them. View Quote |
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Her husband died unexpectedly. What happened to his lifetime of retirement savings? If he didn't have any, what about life insurance?
Cancer is expensive (ask me how i know). But... she's an HR lady. She's only going to be out her out-of-pocket maximum in a year. Maybe the first year of her husband's disease caught them unprepared, but why is her cancer ruining her financially? She's in her 70s, past maximum age to start drawing social security. Doesn't her SS benefits help? I think the author of the article isn't reporting all the facts, more like a carefully crafted story to advance a narrative. It's impossible to save for retirement. only the "very weathy" will have dignity in retirement. The moderately wealthy or less will die like dogs in the street. Uh huh... Seems to be a "rah rah" piece for social security and enhancing government benefits. they keep hinting ss benefits are going to be reduced. despite a long history of annual COL adjustments and near political certainty that benefits will never go down for people actually in retirement. |
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Originally Posted By MissiveGenius: Soon there will be enough of them that they will vote to steal everything from those of us have who led a lifetime of frugality. We must remain well armed and prepared. View Quote That’s fucking hilarious, to be said about a wholllle generation of Boomers that defined themselves as “frugal” and “living within their means”. And one should always be armed and prepared, yes. |
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Do you even OODA loop?
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Originally Posted By Ozgur: Medicare doesn't cover that much...especially with catastrophic illnesses. When my mom went through cancer treatments, surgeries, and hospital stays, her portion of the bills ran up over $138,000. View Quote View All Quotes View All Quotes Originally Posted By Ozgur: Originally Posted By JIMBEAM: At 70 shouldnt she have Medicare? Medicare doesn't cover that much...especially with catastrophic illnesses. When my mom went through cancer treatments, surgeries, and hospital stays, her portion of the bills ran up over $138,000. That is why you buy supplemental. A halfway decent one wouldn't have cost all that much and would have likely covered almost all of her 138K costs. |
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Liberals are a curious mix of communism and fascism, they want to destroy you but want to use your own money to do it.
I'm getting down to the last box, the other have all been destroyed... |
"I didn't work hard and I have zero money...now I'm coming for the 401k's of those that did..."
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Originally Posted By MissiveGenius: Soon there will be enough of them that they will vote to steal everything from those of us have who led a lifetime of frugality. We must remain well armed and prepared. View Quote This all day. Guys at work can keep their new every 3 years trucks, 500k+ houses, UTVs, 5th wheel campers, tax refund yearly vacations in Jamaica, etc, etc. I keep packing my Roth and brokerage accounts beyond our work pension and annuity. Blows my mind when they tell me the amount of credit debt they have. Some just got to upgrade from the 25' RV to the 35' RV. One guy bragged about his wifes BMW 2 yrs ago and now they are taking a loss because it nickle and dimes them. Alot don't have $1000 for an emergency or have to work some OT to replace bald tires. No money for a box or two of ammo to hit the range but by God they got cash to spend on drinking and a new sweet tattoo. 🤣🤣 One guys motto is, "You can afford anything on payments" To each their own. |
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The entire thread is about retirement income and yet not one post has been about the LACK of debt at retirement age and the smallest outgoing of money possible for any debt still owed to banks, institutions, or other concerns. Sure a decent amount of higher earners have no issue with continuing to pay on debt after retirement but for the majority of retiree's, no debt or as little as possible is highly recommended. Finding ways to cut every tax bill or payment to the state or feds is also recommended.
Vote out any bastard you can that wants to increase ANY taxes on you, they are the ultimate enemy in retirement. |
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Liberals are a curious mix of communism and fascism, they want to destroy you but want to use your own money to do it.
I'm getting down to the last box, the other have all been destroyed... |
Originally Posted By 4q2: And yet the majority here on the site absolutely hate trade unions pensions . Yeah , I’ll get a lotta crap thrown my way , but that is what many people did before the 401 k and Ira accounts started being adopted . Company and union pensions was/is a thing . IMO , that is why the markets are over valued . Too much money chasing so little stocks . But , I’m just a dumbass redneck . This is all imo of course . View Quote Pensions are great as long as they are funded. How many pensions have been bailed out by the U.S. taxpayer? That doesn't even take into consideration the Public pensions for "civil servants" that are all broke. SEIU? What a fucking joke. |
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Originally Posted By MissiveGenius: Soon there will be enough of them that they will vote to steal everything from those of us have who led a lifetime of frugality. We must remain well armed and prepared. View Quote Why do you hate democracy? I'm starting to wonder if saving money for retirement, maxing the health savings account, paying for insurance, living in a paid-off too-small house, driving old cars, and paying cash for my kid's education were sucker moves. |
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Originally Posted By fxntime: The entire thread is about retirement income and yet not one post has been about the LACK of debt at retirement age and the smallest outgoing of money possible for any debt still owed to banks, institutions, or other concerns. Sure a decent amount of higher earners have no issue with continuing to pay on debt after retirement but for the majority of retiree's, no debt or as little as possible is highly recommended. Finding ways to cut every tax bill or payment to the state or feds is also recommended. View Quote That's what saved my Dad. He owns his house and his truck is payed off. Social security covers his bills, property tax and food. |
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Originally Posted By 18B30: Welcome to the new reality. It’s only going to get worse. So, enjoy the ride! 18Z50 View Quote Things ARE going to get worse. Some of us are trying to do something about it, others aren’t, or won’t. “Toeing the line” for the NWO, and their “Great Reset” isn’t the sort of ride I want to take. I’m grateful to The Founding Fathers, that they didn’t “enjoy the ride”. I also won’t cheapen the memories and graves of everyone who died in war for the United States to become and remain free, just so I can be comfortable and “enjoy the ride”. But, that’s just me being a silly romantic, some might say. |
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Never forget the never-TRUMPers.
Never forgive them. Ever! |
Originally Posted By eagarminuteman: I mean statistics say that like 70% of seniors would be in poverty without SS, imagine how much worse that'll be when our generations start to retire. I know very few financially smart zoomers, just saying. View Quote View All Quotes View All Quotes Originally Posted By eagarminuteman: Originally Posted By brownbomber: I'm a Millennial. Every time I see some older homeless person dragging around a suitcase downtown, I remind myself there's a good chance that a whole lot of us are going to end up like that. I mean statistics say that like 70% of seniors would be in poverty without SS, imagine how much worse that'll be when our generations start to retire. I know very few financially smart zoomers, just saying. Im 41 and fucked up by not saving, cashing out retirement accounts and poor financial judgrment. Im putting as much as i can into my ira at work and my roth but i know it wont be enough. Plus MS and the beetus (controlled with diet) has the potential of fucking me up. I doubt I will be able to retire. |
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Originally Posted By OregonShooter: You do realize that those union pension funds are invested in the stock market right? If the market collapsed the fund would be insolvent. View Quote View All Quotes View All Quotes Originally Posted By OregonShooter: Originally Posted By 4q2: And yet the majority here on the site absolutely hate trade unions pensions . Yeah , I’ll get a lotta crap thrown my way , but that is what many people did before the 401 k and Ira accounts started being adopted . Company and union pensions was/is a thing . IMO , that is why the markets are over valued . Too much money chasing so little stocks . But , I’m just a dumbass redneck . This is all imo of course . You do realize that those union pension funds are invested in the stock market right? If the market collapsed the fund would be insolvent. Mine is not 100 percent in stocks . But yes , I realize a downturn hurts us all . Just too much money chasing too many stocks has caused overpricing , IMO . Again , I’m just a dummass redneck from Texas . |
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every gun makes its own tune
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Retirement is not something I am looking forward to, and hope I don't have to until I am at least 75. I don't mind work, it keeps my mind busy. I don't like sitting around, and don't see how there is anything to fill my time. Hunting season only lasts a few months of the year, and the rest of the year would be pretty boring.
I worked with guys who were 75 years old and still working. They walked 4-7 miles a day and were up and down stairs and ladders. They could still do it because they never stopped. A sedentary lifestyle isn't for me. The way things are going, I won't be surprised if the government confiscates our 401k's and gives us social security credits. After all, in democrat minds "only rich people have a 401k". I'm not going to put myself in a situation of relying on social security. I never had kids, so at least I won't have to support a bunch of lazy gen whatevers. And I got no basement for them to live in. |
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People make poor decisions throughout their lives then when their later years aren’t what they expected they blame everything but their poor decisions.
The end. |
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Originally Posted By lockinload: Pensions are great as long as they are funded. How many pensions have been bailed out by the U.S. taxpayer? That doesn't even take into consideration the Public pensions for "civil servants" that are all broke. SEIU? What a fucking joke. View Quote View All Quotes View All Quotes Originally Posted By lockinload: Originally Posted By 4q2: And yet the majority here on the site absolutely hate trade unions pensions . Yeah , I’ll get a lotta crap thrown my way , but that is what many people did before the 401 k and Ira accounts started being adopted . Company and union pensions was/is a thing . IMO , that is why the markets are over valued . Too much money chasing so little stocks . But , I’m just a dumbass redneck . This is all imo of course . Pensions are great as long as they are funded. How many pensions have been bailed out by the U.S. taxpayer? That doesn't even take into consideration the Public pensions for "civil servants" that are all broke. SEIU? What a fucking joke. I’m enjoying mine . I sincerely hope you can enjoy yours . |
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every gun makes its own tune
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Originally Posted By Pantexan: The future doesn't plan shit ./media/mediaFiles/sharedAlbum/dumbass-27.jpg View Quote |
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with respect to cancer and health insurance...is it that most insurance doesn't cover much in the way of treatment? do people hit a lifetime max payout then have to cover the rest? downright scary to think that insurance wouldn't cover something that common now.
i'll go read the full article to see if it addressed how much medical debt they had to rack up. -CT |
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Originally Posted By 4q2: Mine is not 100 percent in stocks . But yes , I realize a downturn hurts us all . Just too much money chasing too many stocks has caused overpricing , IMO . Again , I’m just a dummass redneck from Texas . View Quote I should have said chasing too many over priced stocks . Sorry . Yes I am a dummass . I just don’t trust the markets . Seems like gambling against the house to me . Feel free to change my mind . |
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every gun makes its own tune
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It can happen to anyone. We make good money, but my 2yr old son sliced his nose pretty good on a chair outside last month. Total bills so far, with insurance, $3400. And that is a minor medical. When my first son was born, he was in nicu and then on oxygen at home for several months. We just constantly paid out the ass.
Medical issues can cripple anyone financially. |
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Originally Posted By TGE: There's only one way to lose money in the stock market over the past 40 years, and that's to treat the market like a casino by making huge underdog bets and buying/selling wildly. Everyone who treated the market as an investment and just chunked money into an index fund over the past few decades and didn't fuck with it is in tall cotton right now. View Quote This |
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Originally Posted By Jacon: The music has stopped for Boomers. You did this. View Quote Bullshit! We didn’t ask for Obamacare. We knew the evil that is National Healthcare. We didn’t ask for processed foods and the pharmaceuticals necessary to keep people alive after living on said processed foods. We didn’t ask for our industrial capacity to be shipped offshore along with the quality jobs. We didn’t ask for a third of the population to be on welfare. My parents and I voted straight Republican our entire lives because we were promised they would preserve the America we grew up believing in. We didn’t sell out our kids future for our present. We got sold out by Democrats embracing Communism and by Republicans leading us to believe they wanted the same thing for their kids future as we did for ours. Everyone got sold out by the politicians and corporations—regardless of your generation. |
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In America, the village idiots have organized.
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Originally Posted By Waldo: Two people, both with cancer. That's going to eat up a lot of money. View Quote View All Quotes View All Quotes Originally Posted By Waldo: Originally Posted By eagarminuteman: Wait so I’m supposed to hate Boomers for stealing the future of the country or feel bad when some of them are still broke at their age despite having lived during a very prosperous time in America? Which is it? Two people, both with cancer. That's going to eat up a lot of money. Yeah you can't plan for those I got RIFFED in December and am still looking for a decent job. As it stands, I will probably find a 30-40 hour a week.job and take advantage of my former employers plan to get the max pension now and continue working |
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"The villainy you teach me, I will execute, and it shall go hard but I will better the instruction"
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I’m afraid saving won’t be enough. I’m divorced, make well over 6 figures, and save over 30% of my income. I’ve seen my retirement eroded 20% since Biden due to inflation. Not dollar loss—it’s growing. It’s dollar VALUE loss
I’m amazed by the people that don’t even understand that their $100,000 401k is only worth $80000 now. And the inflationary death spiral is just beginning And Social Security and Medicare now have a projected 175 TRILLION shortfall over a 75 year span. |
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Originally Posted By eagarminuteman: Wait so I’m supposed to hate Boomers for stealing the future of the country View Quote View All Quotes View All Quotes Originally Posted By eagarminuteman: Wait so I’m supposed to hate Boomers for stealing the future of the country Originally Posted By Jacon: The music has stopped for Boomers. You did this. My Dad had a sign hanging in his office. It went something like this. "A man is never a failure, until he blames someone else for his mistakes." |
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"According to Argonne National Laboratory, it takes 100 pounds of battery in an EV to go a distance achieved by only one pound of gasoline in an ICE vehicle"
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Originally Posted By FE427TP: Years of retirement are not a promise of the American dream. When social security was enacted only 20% of Americans were going to live long enough to collect it. View Quote Yes. That’s why it’s called social security insurance, not social security retirement. It’s a hedge against significantly outliving your average expected lifespan. If congress had added an automatic life expectancy adjustment to the payout plan then we would be slightly less fucked. |
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I have a soft spot for the elderly, very sad when you have to work in your 70’s.
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Originally Posted By Ozgur: Medicare doesn't cover that much...especially with catastrophic illnesses. When my mom went through cancer treatments, surgeries, and hospital stays, her portion of the bills ran up over $138,000. View Quote View All Quotes View All Quotes Originally Posted By Ozgur: Originally Posted By JIMBEAM: At 70 shouldnt she have Medicare? Medicare doesn't cover that much...especially with catastrophic illnesses. When my mom went through cancer treatments, surgeries, and hospital stays, her portion of the bills ran up over $138,000. My dad had several rounds of chemo over multiple years, they covered a lot of his cost. |
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"All compromise is based on give and take, but there can be no give and take on fundamentals. Any compromise on mere fundamentals is a surrender. For it is all give and no take." -Ghandi
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retired at 63 and loving it so far. haven't started taking SS yet
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English - Do you speak it MF??
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Originally Posted By _DR: My Dad had a sign hanging in his office. It went something like this. "A man is never a failure, until he blames someone else for his mistakes." View Quote My mistakes? Didn’t realize being priced out of housing was my mistake. Or college prices increasing tenfold was my mistake. Trust me, I’ve made all the right choices, despite what yall will say. Some of us just got dealt a shit hand when it comes to the time period we’re born in. |
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Let me guess: "Marcia" is really Marcia from the Philippines with her chinese husband that immigrated from India in 2001. Now she wants more free stuff because she is entitled to have it since she is a naturalized citizen. She listened to the song about a rose garden about how it was promised to her when she got out of the bilge at Frisco. |
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Originally Posted By MSUlead1: I’m afraid saving won’t be enough. I’m divorced, make well over 6 figures, and save over 30% of my income. I’ve seen my retirement eroded 20% since Biden due to inflation. Not dollar loss—it’s growing. It’s dollar VALUE loss I’m amazed by the people that don’t even understand that their $100,000 401k is only worth $80000 now. And the inflationary death spiral is just beginning And Social Security and Medicare now have a projected 175 TRILLION shortfall over a 75 year span. View Quote yeah, I hear ya, I'm in the same boat and save half or more and am still worried about being able to ever retire. |
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Originally Posted By PovertyPonies: Her husband died unexpectedly. What happened to his lifetime of retirement savings? If he didn't have any, what about life insurance? Cancer is expensive (ask me how i know). But... she's an HR lady. She's only going to be out her out-of-pocket maximum in a year. Maybe the first year of her husband's disease caught them unprepared, but why is her cancer ruining her financially? She's in her 70s, past maximum age to start drawing social security. Doesn't her SS benefits help? I think the author of the article isn't reporting all the facts, more like a carefully crafted story to advance a narrative. It's impossible to save for retirement. only the "very weathy" will have dignity in retirement. The moderately wealthy or less will die like dogs in the street. Uh huh... Seems to be a "rah rah" piece for social security and enhancing government benefits. they keep hinting ss benefits are going to be reduced. despite a long history of annual COL adjustments and near political certainty that benefits will never go down for people actually in retirement. View Quote You would be correct. The author has an obvious narrative. Just look at her bio. She is definitely a lib and wants to push the free handout theory. Attached File |
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Originally Posted By AA717driver: Bullshit! We didn’t ask for Obamacare. We knew the evil that is National Healthcare. We didn’t ask for processed foods and the pharmaceuticals necessary to keep people alive after living on said processed foods. We didn’t ask for our industrial capacity to be shipped offshore along with the quality jobs. We didn’t ask for a third of the population to be on welfare. My parents and I voted straight Republican our entire lives because we were promised they would preserve the America we grew up believing in. We didn’t sell out our kids future for our present. We got sold out by Democrats embracing Communism and by Republicans leading us to believe they wanted the same thing for their kids future as we did for ours. Everyone got sold out by the politicians and corporations—regardless of your generation. View Quote Don't let them tweak you. These are the generation that live with their parents into their 30's and 40's, and will never own their own home. They are poorly educated, have liberal arts degrees, a lot of student loans, and are inclined toward socialism. Some "boomers" might have it tough, but the following generations will be scavenging landfills for something to eat, based on the way they will vote. |
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Originally Posted By terryj: Did anyone here get Enroned? Lots of retirement dreams shattered right there. View Quote No, but when I got my first job in 1985, a lot of the guys had put their retirement funds into the "Cash Account" since it was safe from the volatility of stocks & bonds. Unfortunately, the cash was all in Savings and Loan banks. They went tits up and the accounts ended up with less than 5% of the initial amount. Wiped a lot of guys out. |
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"I do believe that some gun laws are needed and yes, I am a Republican" ~ tc556guy - NRA Member
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Originally Posted By JLPettimoreIII: https://www.ar15.com/media/mediaFiles/253414/E3fZvG7XwAIBln9_jpg-3171164.JPG View Quote View All Quotes View All Quotes Originally Posted By JLPettimoreIII: Originally Posted By 18B30: Welcome to the new reality. It's only going to get worse. So, enjoy the ride! 18Z50 Getting some mileage out of this one. |
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every gun makes its own tune
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Originally Posted By eagarminuteman: Wait so I’m supposed to hate Boomers for stealing the future of the country or feel bad when some of them are still broke at their age despite having lived during a very prosperous time in America? Which is it? View Quote View All Quotes View All Quotes Originally Posted By eagarminuteman: Originally Posted By JLPettimoreIII: Marcia is in her 70's and she's still working. She clocks over 40 hours weekly in her salaried human resources role at a medium-sized company. "As much as I love my job and what I do, in my darkest private moments, I think I'm going to die in this job. I'm going to die in this office because I have no way to get out," she said. For her, work means both dignity and a financial lifeline. She's far away from family and doesn't have help or a second income she can rely on. One of the main reason she hasn't been able to retire is that she's been "overwhelmed" by medical bills from both her husband's cancer diagnosis he died two years ago and now from her own cancer diagnosis. "I was hoping that my husband and I could retire together. And I guess my biggest misjudgment was I didn't plan on being alone financially, emotionally, and one could say I should have, but I didn't," she said. Marcia is one of many retirees who feel left behind by the American dream's promise that a life of hard work would be rewarded with years of rest. Now, as with many traditional economic milestones, retirement has become a luxury reserved only for those who can afford it. More people over 65 are working as pensions disappear, people live longer, and Social Security benefits are seemingly always in peril. It all points to a retirement crisis sweeping its way across the country. Business Insider spoke with several Americans of retirement age about why they are still trading their time for money. Their identities have been verified, but a few asked to go by their first names only to preserve their privacy. "If I get the chance, I would like to help other people by sharing the experience and supporting people and maybe finding some solutions to these issues," Marcia said. "I think older people become very invisible, and maybe it's going to take other older people to help heighten that visibility." moar You mispelled the single longest and most stable bull run in the history of the planet. |
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Medicaid is the gold standard health plan these days and is much preferable to private insurance in terms of benefits. Sad but true. Private companies administering it and funded by state government and really provide good care.
Medicaid + Medicare, living in an RV or boat are how I intend to spend my retirement. No kids or family |
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I doubt I’ll even make it to retirement.
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Carpe diem - Seize the day
Carpe per diem - Seize the expense check |
Originally Posted By terryj: Did anyone here get Enroned? Lots of retirement dreams shattered right there. View Quote Probably should have a poll in a new thread but we have enough purse swinging in GD on generational warfare. I really wonder what the biggest threat (most effected and not the biggest effect though could have its own poll) to retirement is? The following is my list (this is a list of people that normally would have been fine, not people that didn't save a dime): 1. Divorce late in life 2. Medical issues 3. Bad stock/investment choices or market issues (based on normal returns, not based on someone bought 8700 shares of Bitcoin when it was a dollar) 4. Inflation 5. Natural disaster not covered by insurance 6. Family issues (brothers uncle borrowed your car and had a DUI killing a family and you get sued) Feel free to add/modify my crappy list |
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RIP CeCe and FCSD you will be missed
Mike_314..If there was communism in the desert, there would soon be a shortage of sand. 87% shit posting - 13% I am caught in a rule change RSM 20/21 RSL 4522: we will shit on your pillow.. (3613 note) |
A cancer diagnosis does not mean financial ruin.
However what you chose to do after that as far as treatment can. Knew a guy who was fairly well off, he got the bad news one day. He had a wife and 2 sons. He went thru a few treatments and it didn’t get any better. He said fuck it, not gonna bankrupt my family. He let nature run its course. Last time I saw him was in the gun store buying his son a 22 rifle. He was gonna a few months later. |
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"I got this. We'll skip the dicks" DK-Prof 12/7/21
Fuck sugar |
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