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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! |
The system is mostly not rigged. LOL
"You had one asshole, your boss decided it wasn't needed." |
Originally Posted By rtlm:Cancer will not eat up serious money, unless you allow it to. View Quote True. Irrevocable trusts, Lady Bird deeds, all sorts of ways to keep the .gov out of your life. It's easy. It doesn't work for cash, though. But most people are stupid about money which the .gov counts on. |
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I worked with a guy at my former employer that I swore would work until he died and we found him deceased on the production floor but as soon as he hit 65 he was gone. He had no savings and lived with his elderly mother.
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Don't worry Marcia, Brandon is bankrupting the entire country:
CBO Director Warns Of Debt Market Meltdown With US Debt On "Unprecedented" Trajectory |
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Originally Posted By PovertyPonies: 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. View Quote Yea starting to feel the same way.... |
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Originally Posted By SystemOfTheMachine:I'm hoping that by the time I'm 59, my investments will be worth close to $500,000-$600,000 and my house will be paid off. At that point I would certainly contemplate early retirement. For me, retiring at 62 is an absolute and I almost view it as a failure. View Quote Do not discount the worth of work. I loved my job. I was getting to the point where, I don't know, I was getting older and would not put up with people's BS any longer. So I thought it was time for me to go. I could afford it so I did. I do not regret it but I miss it nonetheless. Work is good. If you enjoy it there is nothing wrong with working into your seventies. Really. BTW, $500K-$600K is not enough. You need at least double that, and that's if you have a decent SSA/annuity/pension income to live off of. You won't want to touch your investments for at least a decade. |
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Originally Posted By Jacon: The music has stopped for Boomers. You did this. View Quote Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif |
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Originally Posted By IPB: Retirement, like religion is a luxury most can't afford. View Quote Attached File Try harder... Stop being a fucking victim The list of wanna be Kardashians who post here to bitch having plundered their own bank accounts is staggering. |
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Originally Posted By fxntime: Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. View Quote View All Quotes View All Quotes Originally Posted By fxntime: Originally Posted By paddykern: Originally Posted By hicap: retired at 63 and loving it so far. haven't started taking SS yet I waited till 70 to start taking SS. Not sure if that was the right decision. Investment guy said it was like making a guaranteed 8% every year by waiting. Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. This. So much this. (I hate to quote myself). Why are people so stupid? Did you do an Excel spreadsheet graph of Social Security? I'm assuming not or else you would NOT have chosen the route you did. Waiting to collect SSA benefits are for people too stupid to know math. |
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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 Your generation was in the positions of power for all of this. You maybe didn't ask for it, but you certainly didn't stop, and for the most part took the payoffs from the pharmaceutical companies to look the other way. Industrial capacity was shipped offshore on your watch as well. You didn't ask for it, but again you looked the other way when leaders got massive bonuses because they reduced labor costs by going over seas and massive pay offs due to the rise in the stock price they had plenty of shares in.. Again all of these happened on your watch, your generation was in charge in the vast majority of power positions in corporate America, and government for all of this. Even if this was silent generation it was handed over to you all with every ability to change it, Instead you cashed in and sold everyone else out. You can scream about not asking for it all you want, it all got much worse on your watch and thats a fact. |
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Yeah. I really don't care. Nobody else's problems are mine and I'm barely able to financially support myself and can't currently provide for my own retirement, so I shouldn't be on the hook for someone else's.
Tough shit. Life sucks, then you die. |
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I'm sorry if the above info makes no sense. I'm kind of an idiot.
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Originally Posted By WileyG27: Exactly how did I do this? View Quote https://en.wikipedia.org/wiki/Collective_responsibility Collectivists believe in collective responsibility/guilt. |
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Progressivism is a fanatical religious cult.
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Originally Posted By norseman1: Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif View Quote View All Quotes View All Quotes Originally Posted By norseman1: Originally Posted By Jacon: The music has stopped for Boomers. You did this. Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif The class envy has gotten crazy here. I retired at 45, can't wait to hear how I didn't earn it and I'm a fucking boomer, even though I'm not even 50. |
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Originally Posted By OldGlazier: That'll get a belly laugh from the boomer haters. View Quote Wishing ill on others and reveling in their struggles is an interesting reflection of the type of person they are. And it's really sad, especially from a group who is known for having to live with their parents into their 40's. They'll only have what they inherit. |
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Originally Posted By ad_nauseam:Retirement abroad is a thing and has been a thing for a long time now. At least 30 years. View Quote Throughout history we have had many places. In the last ten or twenty years people have been talking about retiring to Mexico or Costa Rica, but we see how Costa Rica has turned out, never mind Mexico! Puerto Rico? With the corrupt government? In this hemisphere, maybe Columbia. If you want to go to Asia, there are several former SSR countries that might be worthwhile, if you are willing to lower your standards a lot. And not carry a firearm (which is pretty much everywhere except the US). |
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"medical" industry in America exists to suck all your wealth out...
while it's rough for everyone out there....i bet she voted for all the bullshit that bankrupted her |
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I have no intentions of ever retiring. I intend on working as long as I physically can. I will likely have the financial means to retire early though. I intend on working as long as I can though in order to keep peace at home.
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Originally Posted By manderson1911:Your generation was in the positions of power for all of this. You maybe didn't ask for it, but you certainly didn't stop, and for the most part took the payoffs from the pharmaceutical companies to look the other way. Industrial capacity was shipped offshore on your watch as well. View Quote |
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Originally Posted By terryj: Did anyone here get Enroned? Lots of retirement dreams shattered right there. View Quote I didn't get Enron'ed, but I got Dot Bombed when the dotcom bubble burst in 2001. We lost half our savings overnight. We dumped that dumb bitch financial consultant and used an old Japanese woman at Chase Bank, and she worked miracles with the money we had left. Twenty-three years later, we have a comfortable retirement. But like any aged retiree, we're only one cancer diagnosis or heart surgery away from losing everything. |
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Obedience is not patriotism. Patriotism is love of your country, not of your government.
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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. Obama care should have fixed that |
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Originally Posted By ScopeEye:Obama care should have fixed that View Quote Obamacare was a scam. People would pay $5,000 a year for the lowest level of insurance that would cover $7 a month birth control pills. (Upper tiers were $7K or $9K). Remember the grad student named F*** who couldn't afford $7 a month birth control but could afford graduate school and $5,000 a year for Obamacare? |
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Originally Posted By CaliContractor: The class envy has gotten crazy here. I retired at 45, can't wait to hear how I didn't earn it and I'm a fucking boomer, even though I'm not even 50. View Quote View All Quotes View All Quotes Originally Posted By CaliContractor: Originally Posted By norseman1: Originally Posted By Jacon: The music has stopped for Boomers. You did this. Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif The class envy has gotten crazy here. I retired at 45, can't wait to hear how I didn't earn it and I'm a fucking boomer, even though I'm not even 50. Hell, I congratulate people who have retired early. And for the common schlub, want to retire early, don't get divorced if married or never get married and stack loads of cash into retirement programs while you are as young as possible. Get a couple hundred K stacked back by 30 and let it work it's ass off for you. |
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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... |
My father just turned 88 & is still working full time. Having said that while I think he would take reduced hours for the sake of his body I don't think he'd want to retire entirely. Either way, he can't quit.
My parents have no money. Neither do I. Either way, we SHTF or the tyrannical state gives us suicide machines. |
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Originally Posted By lokifox: Take it now. It takes 11ish years to break even if you wait until 67 vs. taking it at 62. View Quote View All Quotes View All Quotes Originally Posted By lokifox: Originally Posted By hicap: retired at 63 and loving it so far. haven't started taking SS yet Take it now. It takes 11ish years to break even if you wait until 67 vs. taking it at 62. Wait until you are 70 to collect SS if you expect to live past 80. I retired at 66 and waited until I was 70 to collect SS. I get about 32% more than if I took it at 66. The COLA is based on your current benefit amount and 8.9% of the higher payment at 70 was nice. |
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Originally Posted By fxntime: Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. View Quote View All Quotes View All Quotes Originally Posted By fxntime: Originally Posted By paddykern: Originally Posted By hicap: retired at 63 and loving it so far. haven't started taking SS yet I waited till 70 to start taking SS. Not sure if that was the right decision. Investment guy said it was like making a guaranteed 8% every year by waiting. Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. Investment guy was smart. Assuming you expect to live past 80, that 8% is great. Your investment results are dependent on how the market does. The 8% is guaranteed. You might come out ahead by investing but the odds are not with you. Did you ever read that little disclaimer, past performance does not guarantee future performance. |
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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 View Quote People think I'm nuts when I tell them I want to be like my grandpa. He worked painting houses till the day he died in his 70s. I have to remind them "that means he was mobile, all there, and capable, right till the end." |
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Originally Posted By Bat15: Investment guy was smart. Assuming you expect to live past 80, that 8% is great. Your investment results are dependent on how the market does. The 8% is guaranteed. You might come out ahead by investing but the odds are not with you. Did you ever read that little disclaimer, past performance does not guarantee future performance. View Quote View All Quotes View All Quotes Originally Posted By Bat15: Originally Posted By fxntime: Originally Posted By paddykern: Originally Posted By hicap: retired at 63 and loving it so far. haven't started taking SS yet I waited till 70 to start taking SS. Not sure if that was the right decision. Investment guy said it was like making a guaranteed 8% every year by waiting. Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. Investment guy was smart. Assuming you expect to live past 80, that 8% is great. Your investment results are dependent on how the market does. The 8% is guaranteed. You might come out ahead by investing but the odds are not with you. Did you ever read that little disclaimer, past performance does not guarantee future performance. You ''might'' come out ahead but you may well be dead too and never see a dime. 10 years of partial SS beats zero years at full rate. And the government knows quite well when men tend to die. Go past 70 and they know you'll likely be dead before you break even with taking it early. 8% -5% in a CD right now or a decent ROTH and you MAY get 3% more waiting but you may get 0% of nothing if you die or a few years and nowhere close to breaking even. 77.28 years is the lifespan norm for US men right now. Think you'll win and beat the odds? If you do, will you actually be able to do a few things you wanted to do if you retired at 62 and took early SS? |
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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 Bat15: Sure we did. If you believe that, I have a nice toll bridge for sale. View Quote View All Quotes View All Quotes Originally Posted By Bat15: Originally Posted By SlipRing: The boomers lived in a far easier economic environment than any of their successors. I have little sympathy for their retirement issues. Sure we did. If you believe that, I have a nice toll bridge for sale. Those 14% house interest rates and 18% car rates [used for most poors] were great, 25% CC rates meant that we saved tons of coin and no CC rewards meant you got to pay every nickel of interest if you carried a balance. But if the rust belt unemployment of 8-10% didn't make you rich, at least you knew your 13 weeks of UE was going to cover all your time off! |
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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 DetroitSounds: I don't take it personally since I'm far from a boomer, it's just hilariously misguided. The younger the generation, the more they play the victim. Hard to blame them really, they're just products of social engineering, and it's working beautifully. View Quote View All Quotes View All Quotes Originally Posted By DetroitSounds: Originally Posted By pdm: I never take the "boomer did this" comments personally. Young people are scared and frustrated so they lash out at whatever Gollum is available. The world is changing rapidly and not for the best it seems so I do understand these fears. The question is what do you do with this fear? Do you run in small circles and shout "Eeeeeahhhhh" or do you do something about it? What actions you take will define you. I don't take it personally since I'm far from a boomer, it's just hilariously misguided. The younger the generation, the more they play the victim. Hard to blame them really, they're just products of social engineering, and it's working beautifully. In fairness though, that torch of power and influence is being passed to Gen X and Millennials as we speak, and that means my generation is next up for blame assignment, such as it is. Personally I probably didn't do enough change culture or government, and neither did Gen X as a whole. So all the boomers can sleep well knowing the blame can and will be passed to X shortly |
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Originally Posted By DetroitSounds: People really think Boomers "Did this" How so? I'm no Boomer but how can you blame Boomers for existing in the climate created by the masters of the universe? What tangible steps would Boomers have had to take to not "Do this"? View Quote View All Quotes View All Quotes Originally Posted By DetroitSounds: Originally Posted By Jacon: The music has stopped for Boomers. You did this. People really think Boomers "Did this" How so? I'm no Boomer but how can you blame Boomers for existing in the climate created by the masters of the universe? What tangible steps would Boomers have had to take to not "Do this"? Because the renters HAVE to blame someone else because they lived large and didn't prepare for retirement. |
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Originally Posted By ScopeEye: Obama care should have fixed that View Quote ACA/Obamacare limited the max out of pocket to $9100 in 2023. I'm sure the limit is higher this year. But being out $10K for a year of cancer treatment is much better than facing the sticker price from the hospital. I've not yet seen a hospital that won't knock off 50% and give you a multi-year payment plan if you ask. (50% off seems like a bargain, but considering an insured person will pay the max allowed by the insurance company contract, it's usually more like 80-90% off.) I'm thinking a common denominator in these tales of woe are people who are uninsured, or critically underinsured. Husband dies, wife has never worked and is now broke because they couldn't afford $300/yr for life insurance. Or they decide to skip even catastrophic health insurance. I could have done that myself for the last 30 years, like most young people we never had any serious health problems. But lucky me, it's only March and I think I've already made all the premiums back I'd be well on my way to Monica-hood if I had decided to skip health insurance this year and go to Disney instead. Super poor means you get free health coverage. Super rich and you can cover your insurance easily. Everybody in the middle has a choice to make. choose wisely |
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Originally Posted By CaliContractor: The class envy has gotten crazy here. I retired at 45, can't wait to hear how I didn't earn it and I'm a fucking boomer, even though I'm not even 50. View Quote View All Quotes View All Quotes Originally Posted By CaliContractor: Originally Posted By norseman1: Originally Posted By Jacon: The music has stopped for Boomers. You did this. Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif The class envy has gotten crazy here. I retired at 45, can't wait to hear how I didn't earn it and I'm a fucking boomer, even though I'm not even 50. No envy here. I'd love to retire at 45 but I don't want to work that hard. My career has been focused on finding a field I enjoy, and locating the job within that field which allows me to hit my financial goal while minimizing the amount of actual work I perform. |
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Originally Posted By R_S: Don't worry Marcia, Brandon is bankrupting the entire country: CBO Director Warns Of Debt Market Meltdown With US Debt On "Unprecedented" Trajectory View Quote The debt spiral is absolutely terrifying and if more Americans truly understood it (even in the most basic of terms) shit would get real right quick... |
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Originally Posted By manderson1911: Your generation was in the positions of power for all of this. You maybe didn't ask for it, but you certainly didn't stop, and for the most part took the payoffs from the pharmaceutical companies to look the other way. Industrial capacity was shipped offshore on your watch as well. You didn't ask for it, but again you looked the other way when leaders got massive bonuses because they reduced labor costs by going over seas and massive pay offs due to the rise in the stock price they had plenty of shares in.. Again all of these happened on your watch, your generation was in charge in the vast majority of power positions in corporate America, and government for all of this. Even if this was silent generation it was handed over to you all with every ability to change it, Instead you cashed in and sold everyone else out. You can scream about not asking for it all you want, it all got much worse on your watch and thats a fact. View Quote View All Quotes View All Quotes Originally Posted By manderson1911: 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. Your generation was in the positions of power for all of this. You maybe didn't ask for it, but you certainly didn't stop, and for the most part took the payoffs from the pharmaceutical companies to look the other way. Industrial capacity was shipped offshore on your watch as well. You didn't ask for it, but again you looked the other way when leaders got massive bonuses because they reduced labor costs by going over seas and massive pay offs due to the rise in the stock price they had plenty of shares in.. Again all of these happened on your watch, your generation was in charge in the vast majority of power positions in corporate America, and government for all of this. Even if this was silent generation it was handed over to you all with every ability to change it, Instead you cashed in and sold everyone else out. You can scream about not asking for it all you want, it all got much worse on your watch and thats a fact. Jesus dude, your response to him is pure bullshit and some of the worst tripe I've heard in awhile that wasn't N_T bullshit... |
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Originally Posted By dannylgriffin: This. So much this. (I hate to quote myself). Why are people so stupid? Did you do an Excel spreadsheet graph of Social Security? I'm assuming not or else you would NOT have chosen the route you did. Waiting to collect SSA benefits are for people too stupid to know math. View Quote View All Quotes View All Quotes Originally Posted By dannylgriffin: Originally Posted By fxntime: Originally Posted By paddykern: Originally Posted By hicap: retired at 63 and loving it so far. haven't started taking SS yet I waited till 70 to start taking SS. Not sure if that was the right decision. Investment guy said it was like making a guaranteed 8% every year by waiting. Investment guy is stupid. Take it early, don't need it, toss it in a ROTH, CD, MM or whatever. That 8% is a bullshit thing. Or take it, use it, save YOUR retirement money until you HAVE to use it or pass it on to your family/heirs. You aren't passing your SS on to anyone but some welfare mooch who never worked 3 months straight in their life. This. So much this. (I hate to quote myself). Why are people so stupid? Did you do an Excel spreadsheet graph of Social Security? I'm assuming not or else you would NOT have chosen the route you did. Waiting to collect SSA benefits are for people too stupid to know math. Yes, this. The break-even analysis results of looking at age to take SS to determine when you can retire because you'll need that money to pay your bills is one thing you should look at. If you have substantial savings and can pay your bills (from that savings and the dividends) so will retire early (before you start claiming SS), there is a separate analysis as to when you should start taking SS, that could very well tell you to take it at 62. I already called it quits at 53, and with my very conservative returns projection, if I waited until 67 to take SS, I wouldn't ever have higher net worth (than if I took SS at 62). I'll need to look at it again before I get to 62, just to account for any anomalies between now and then, though. |
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Originally Posted By dannylgriffin: Methinks you are blaming a generation rather than a political party. Remember, there is not one single generation that determines an election, it is multiple. Are you old enough to know this? If not, should you be on arfcom? View Quote Disagree. Boomers just on sheer size are larger by a good bit than the other generations and can sway things their way. On top of that they never ever let go of power, they just sit in roles LOOOOOOONG past they they are practically impactful just look at congress right now its the oldest ever. Proud of you for figuring out how to post here though old man. I was expecting to get a few stone tablets with responses in the mail. |
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Originally Posted By Justintime2: Jesus dude, your response to him is pure bullshit and some of the worst tripe I've heard in awhile that wasn't N_T bullshit... View Quote LOL You responding emotionally with name calling instead of fact based response says everything. Fact this country went to absolute shit while the "me first" boomers where on watch. Fact. |
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Originally Posted By manderson1911: LOL You responding emotionally with name calling instead of fact based response says everything. Fact this country went to absolute shit while the "me first" boomers where on watch. Fact. View Quote View All Quotes View All Quotes Originally Posted By manderson1911: Originally Posted By Justintime2: Jesus dude, your response to him is pure bullshit and some of the worst tripe I've heard in awhile that wasn't N_T bullshit... LOL You responding emotionally with name calling instead of fact based response says everything. Fact this country went to absolute shit while the "me first" boomers where on watch. Fact. Wrong, the silent generation and the ''greatest'' generation were some commie acting and voting SOB's. Almost all the total shit govt programs were introduced and passed on their watch. Unless boomers somehow have a 50 year generation unlike everyone else. |
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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... |
Nobody owes you retirement.
Sorry for the outcome, but you are not owed a cushy life no matter how many years youve been on this earth, you can only hedge your bets to have a better outcome. Its sad and many have difficult lives. |
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"you know, some people get hit with an ugly stick, but there must be an infinite supply of dipshit lashings out there"
ADEPTO UTRIUSQUE |
I feel bad for her. Some people do not come from a financially sound background and the cancer treatment payments can really fuck her. A lot of people my age will be in her situation. Life happens.
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"I'm going to cash out my 401K and never save a dime. Social Security will take care of me."
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Preferred pronoun: MARINE
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Originally Posted By norseman1: Still waiting for zoomers to put in a 40hr work week that doesn't involve them sitting around with their thumb's up their ass. Article doesn't describe the dozens of trips/vacations she took or the $ wasted on useless shit. I hear people say they are "just scraping by" when I suddenly see their FB and Instagram pages surrounded by mountains of shit they couldn't possibly afford. Zero fucks given.gif View Quote Everyone knows people like that. New car all the time, refi and HELOC everytime the house is worth a few more pennies. Hawaii vacation every year. "I'm so broke." I know two women exactly like this. One won't answer the phone because of bill collectors. |
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Preferred pronoun: MARINE
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I am almost 49. Life circumstances. Poor early financial education and now an adoption...I probably won't be able to retire.
My fault. My 4 year is worth every penny. However adoption loans suck. But if I could invest the money the .gov steals from me for social security...I could... if I cloud have invested from the beginning...I probably could have now! |
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Originally Posted By VACaver: Yep. I make more now than I did before I retired, and have no need to touch my retirement savings. Planning ahead is key. View Quote View All Quotes View All Quotes Originally Posted By VACaver: Originally Posted By EDDIECRUM: Older boomer here. Plan for your future. No one is going to do it for you. No pensions for my wife or myself. I was self employed most of my life. We make as much and sometimes more than when we were working because we planned our retirement. Yep. I make more now than I did before I retired, and have no need to touch my retirement savings. Planning ahead is key. I have to take take money out of my retirement savings per federal law. Don’t really need it, and just reinvest it. |
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The end of pensions was supposed to mean the retirement investment would stay with the worker through a career rather than with the company. Unfortunately people have less long term orientation than needed and financially the middle and lower classes are making less and less for decades. Retirement is the last line on the list of monthly bills and many can't get to it.
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Originally Posted By manderson1911: Your generation was in the positions of power for all of this. You maybe didn't ask for it, but you certainly didn't stop, and for the most part took the payoffs from the pharmaceutical companies to look the other way. Industrial capacity was shipped offshore on your watch as well. You didn't ask for it, but again you looked the other way when leaders got massive bonuses because they reduced labor costs by going over seas and massive pay offs due to the rise in the stock price they had plenty of shares in.. Again all of these happened on your watch, your generation was in charge in the vast majority of power positions in corporate America, and government for all of this. Even if this was silent generation it was handed over to you all with every ability to change it, Instead you cashed in and sold everyone else out. You can scream about not asking for it all you want, it all got much worse on your watch and thats a fact. View Quote That's not accurate at all. It was the younger generations who supported Obama and wanted Obamacare. Obama's popularity was always higher with the younger groups. They were the only ones dumb enough to believe him. The younger generations currently support big government and socialism. They want something for nothing, like student loan forgiveness. Medicaid\Medicare expansions and prescription drug benefits were passed at the demand of the WWII generation, who was NOT the greatest. Tom Brokaw named them "The Greatest", not because they won the war, but because they won the war and built Johnson's Great Society. He said as much, and a bunch of pseudo patriots deify that generation because of that. The negative effects of the Great Society weren't immediate, but long lasting. The true Greatest Generation would be the Revolutionary Generation. The exportation of America's industrial base started under Bill Clinton with NAFTA, in the early 90's, when the WWII generation was still running the country. Unfortunately, they were the first generation to live so long, thanks to medical advancements. Clinton's popularity was also highest among young people, who elected him. "Rock The Vote". GHW Bush couldn't get NAFTA passed, and it took Clinton to get it done. Ever heard of Diane Feinstein? WWII generation. Bob Dole? WWII. Robert Byrd? WWII. Harry Reid? WWII. GHW Bush, WWII. All those old Senators were WWII. Those Senators are finally gone, or last legging. They certainly weren't boomers. Chuck Schumer is a boomer, but he's only been in power a couple years. As far as exporting American jobs, most CEOs and BODs have a fiduciary duty to do what is in the best interest of the company and it's stockholders. If they don't, they can be prosecuted or lose their job. Medtronic moved it's world HQ to Ireland because it could save a few billion $$ in taxes every year. Those tax rates were put in place by the WWII generation and Clinton era government. The current younger generations support tax and spend because they want what others have earned, which is why they vote mostly democrat. |
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