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Posted: 6/9/2018 12:56:45 PM EDT
[#1]
Good
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Posted: 6/9/2018 12:56:46 PM EDT
[#2]
System working as designed.
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Posted: 6/9/2018 1:00:08 PM EDT
[#3]
I'm half-lucky. Not doing well enough yet to be thinking realistically about buying property, but I at least have a Roth IRA that I've been trickling into for the past few years, slightly higher amounts in the last year or two since I can sort-of-afford it, and my employer has an okay fund-matching setup (not outstanding, but okay) for in-house 401k. And I don't have any student loan debt hanging over my head.
So there's that. |
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Posted: 6/9/2018 1:01:09 PM EDT
[#4]
Quote HistoryQuoted:
Good 
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Posted: 6/9/2018 1:03:44 PM EDT
[#5]
Well, since most of the snot-nosed little panty-wastes didn’t start working til they were 30, fuck ‘em.
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Posted: 6/9/2018 1:04:44 PM EDT
[#6]
It is more than a little ironic that the equality/trophy for all generation will end up having one of the more pronounced class hierarchies in adulthood.
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Posted: 6/9/2018 1:04:49 PM EDT
[#7]
It really is going to be a shit show.
When I talk to people at work about retirement, I’m always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn’t have ANY retirement savings. |
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Posted: 6/9/2018 1:05:54 PM EDT
[#8]
Quote HistoryQuoted:
It really is going to be a shit show. When I talk to people at work about retirement, I’m always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn’t have ANY retirement savings. |
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Posted: 6/9/2018 1:08:52 PM EDT
[#9]
Im almost 30 and have 0 retirement savings. I've never worked for an employer with a 401k plan or anything so I never started.
[Forrest Gump]I'm not a smart man[/Forrest Gump] |
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Posted: 6/9/2018 1:10:46 PM EDT
[#10]
Quote HistoryQuoted:
It really is going to be a shit show. When I talk to people at work about retirement, I’m always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn’t have ANY retirement savings. Out of all the people i work with,a good guess is less than 10 even contribute to our 401K plan.And out of those only a few are doing more than 10% One guy i asked said he doesnt need that 401K crap,he is good. 30 years old and still living with his dad is good i guess 
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Posted: 6/9/2018 1:11:43 PM EDT
[#11]
Quote HistoryQuoted: Well, since most of the snot-nosed little panty-wastes didn’t start working til they were 30, fuck ‘em. 
You got data to back that up? |
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Posted: 6/9/2018 1:17:00 PM EDT
[#12]
No one goes to work for the railroads, power utilities, city utilities, military, state/federal government anymore?
That's where I would be looking if I was them, can still find some decent pay/benefits/pensions in those places. |
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Posted: 6/9/2018 1:20:28 PM EDT
[#13]
Quote HistoryQuoted:
Ffffuuuuuck. I'm not doing very well, savings-wise, but I'm doing a bit better than that. Quote HistoryQuoted:
Quoted:
It really is going to be a shit show. When I talk to people at work about retirement, I’m always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn’t have ANY retirement savings. |
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Posted: 6/9/2018 1:20:33 PM EDT
[#14]
Well I foresee more homeless and more suicides and more robberies and on the rise in the future. I mean everyone gets tired of working at some point. Or maybe people will Break Bad and start cooking up meth and selling it for their retirement plan, haha
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Posted: 6/9/2018 1:23:46 PM EDT
[#15]
Well, I have a house. But I also have a lot of debt and haven't been able to contribute to any sort of retirement savings because I haven't been able to have a job for the last 8 years. On the other hand, I'm an M.D. at 25. So there's that.
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Posted: 6/9/2018 1:26:17 PM EDT
[#16]
Quote HistoryQuoted:
System working as designed. |
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Posted: 6/9/2018 1:28:01 PM EDT
[#17]
End of the baby boomers, I plan to work until 70
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Posted: 6/9/2018 1:35:08 PM EDT
[#18]
Quote HistoryQuoted:
Good ETA:Along with most of the others. |
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Posted: 6/9/2018 1:35:12 PM EDT
[#19]
Not too surprising with the Greediest Generation setting up pension plans for themselves and their lazy Boomer kids. Gov employees work to about 50 these days? I'm a genX and figured I'd be getting screwed on SS since my dad taught me about it as a kid so it won't come as a surprise. My kids (GenZ?) will most likely have a more difficult life than I.....unless they are trans or some other yet to be discovered privileged class.
It's not necessarily a bad thing that people have to work longer than the previous couple generations - those bums just rigged a system so they wouldn't have to work long enough. Middle class shouldn't be surprised to work within 5 years of death unless they have earned enough of their own $ to retire sooner. |
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Posted: 6/9/2018 1:36:43 PM EDT
[#20]
That's cool...well just get our inheritance and homes passed down from mommy and daddy
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Posted: 6/9/2018 1:42:49 PM EDT
[#21]
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Posted: 6/9/2018 1:46:16 PM EDT
[#22]
The globo-Marxist agenda is advancing.
1st-world countries are being encumbered, competing countries are catching up. The younger the westerner, the less advantage he will have. |
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Posted: 6/9/2018 1:52:50 PM EDT
[#23]
Quote HistoryQuoted:
Not too surprising with the Greediest Generation setting up pension plans for themselves and their lazy Boomer kids. Gov employees work to about 50 these days? I'm a genX and figured I'd be getting screwed on SS since my dad taught me about it as a kid so it won't come as a surprise. My kids (GenZ?) will most likely have a more difficult life than I.....unless they are trans or some other yet to be discovered privileged class. It's not necessarily a bad thing that people have to work longer than the previous couple generations - those bums just rigged a system so they wouldn't have to work long enough. Middle class shouldn't be surprised to work within 5 years of death unless they have earned enough of their own $ to retire sooner. |
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Posted: 6/9/2018 1:53:19 PM EDT
[#24]
Quote HistoryQuoted:
That's cool...well just get our inheritance and homes passed down from mommy and daddy |
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Posted: 6/9/2018 1:54:30 PM EDT
[#25]
Maybe the dumb ones that fell hook line and sinker for the used car salesman tactics of having to inherit an astronomical debt to go to college right after highschool, that didn't work in skilled trades throughout highschool and waited a couple years before diving into a career and college...
Especially true for the ones who knocked up/got knocked up on a pull out couch and pissed their 20s away partying and not sacrificing a social life for stacking cash... or playing house living at home with mommy and daddy because the rent is too damn high in their dream city... I'm fine. I'll be able to retire at 40 and live comfortably if I want. |
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Posted: 6/9/2018 1:55:08 PM EDT
[#26]
Those are the benefits of living longer, oh well.
<---------- retiring at 45 does not care 
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Posted: 6/9/2018 1:56:43 PM EDT
[#27]
Thank god I'm Generation X and my son is Generation Z, dodged the millennial curse
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Posted: 6/9/2018 1:57:32 PM EDT
[#28]
Quote HistoryQuoted:
It really is going to be a shit show. When I talk to people at work about retirement, I'm always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn't have ANY retirement savings. |
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Posted: 6/9/2018 1:57:39 PM EDT
[#29]
Boomers would do anything to be a young again, its where the bitterness comes from. Notice how all the animosity is directed at the young men, but they would think about it for months if a millenial woman noticed them. Hopefuly SHTF or something happens so I never become that sad
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Posted: 6/9/2018 2:00:11 PM EDT
[#30]
Quote HistoryQuoted:
Im almost 30 and have 0 retirement savings. I've never worked for an employer with a 401k plan or anything so I never started. [Forrest Gump]I'm not a smart man[/Forrest Gump] Do you have immediate plans to change this or are you gonna continue to coast through life and be fucked when you get old? |
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Posted: 6/9/2018 2:01:28 PM EDT
[#31]
Quote HistoryQuoted:
Good This fucking place. I need a break from you people.
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Posted: 6/9/2018 2:02:48 PM EDT
[#32]
Quote HistoryQuoted:
That's cool...well just get our inheritance and homes passed down from mommy and daddy |
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Posted: 6/9/2018 2:03:53 PM EDT
[#33]
Quote HistoryQuoted:
Lol. You DO realize that your folks medical bills could do away with that home and inheritance very quickly! Quote HistoryQuoted:
Quoted:
That's cool...well just get our inheritance and homes passed down from mommy and daddy |
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Posted: 6/9/2018 2:18:24 PM EDT
[#34]
I love how this mood on this website from 2008-2013 was that the fucking world was going to end tomorrow (economically speaking) and everyone was fucked, but now the expectation is that those that entered adulthood somewhere around this time period are supposed to now be independently wealthy.
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Posted: 6/9/2018 2:19:27 PM EDT
[#35]
Quote HistoryQuoted:
It really is going to be a shit show. When I talk to people at work about retirement, I'm always amazed at how little they have invested. One dude in his early 40s who has 4 kids told me that he has less than 10k total retirement savings and I just talked to a gal in her mid 30s who didn't have ANY retirement savings. I've got my military reserve retirement (4500 points  ) which will start at age 56, I should hit 30 years of Federal civilian service at age 57 and start that pension, TSP and Roth are looking good, house will be paid off by the end of this year, no other debt. I'm making more than I ever have and spending less than I ever have, that's the way to do it.Good to be a Gen X'er
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Posted: 6/9/2018 2:21:07 PM EDT
[#36]
Quote HistoryQuoted: That might depend on whether the home is willed or signed over before death or nursing home, and how many years before. That's something to talk to a lawyer about. Gramps got the oldtimers, fell and broke his hip wound up in a long term care facility and when he croaked... His father aunt and uncle thought they'd make out like bandits. LOL NOPE Granny can't sell the house. Gramps 70 Cadillac Deville with 42k miles rust free? Sold. Had to cover expenses that his pension and social security couldnt cover. Boat? Gone. Any asset of significant value. Gone. Had to satisfy his expenses incurred. The house. When grandma clocks out goes to GE as part of the deal grandpa signed YEARS ago. Even though it's paid for free and clear. Guess it's in the event he passes away she can still live in the house and the taxes be paid maintenance be performed etc etc and she has a place to live and food to eat electric and heat. She wanted to sell the house which would get probably 400-500k in that area, and move into a mobile home park or an apartment. Nope. Cant. Anything happens to her health wise? She's covered. Will she have spending loot? Nope. Has a portion of his social security to live on. She never worked a day in her life either. She was the stay at home mother of the 50s 60s 70s where the man worked women stayed home and played bridge and spent money and raised kids, and had dinner ready at 7pm on the dot. Or it was hell to pay. Grandpa screwed my buddies father aunt and uncle. Bigly. What becomes of what's left of grandmas money? She will leave it to be split 4 ways. Boomer relatives are not happy. GE will make out like bandits. So will the long term care facility. Dude caught the alzheimers and thought it was 1968 not 2008 and fell down the stairs thinking an old woman broke into the house after seeing a new Mercedes in the driveway and not his Chrysler Imperial... That's a disorder I wouldn't wish on anyone but maybe the Clintons. |
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Posted: 6/9/2018 2:25:20 PM EDT
[#37]
Quoted:
https://www.politico.com/agenda/story/2018/06/07/millennials-preparing-for-retirement-000670 In terms of preparing for retirement, millennials have three strikes against them. First, because of limited access to retirement plans at work, millennials will struggle to build retirement savings, since experience shows that people have a great deal of trouble saving on their own. Second, they are less likely to have bought a home, and home equity is a valuable retirement asset. And third, they are more likely to be burdened by student loans, and young workers with student loans have less to stash in retirement plans and are more likely to end up at risk in retirement. The investment environment for equities and real estate has been extraordinary in recent years, so those who didn't bother to take advantage of some great opportunities to accumulate wealth for themselves are shit out of luck. |
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Posted: 6/9/2018 2:36:34 PM EDT
[#38]
Quote HistoryQuoted:
I love how this mood on this website from 2008-2013 was that the fucking world was going to end tomorrow (economically speaking) and everyone was fucked, but now the expectation is that those that entered adulthood somewhere around this time period are supposed to now be independently wealthy. Dow today: 25,500. 
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Posted: 6/9/2018 2:38:25 PM EDT
[#39]
All I see and hear are fucking excuses. These idiots really bought into work smarter not harder. That works to a degree but it still takes hard work.
Had 2 paper routes at the age of 12, got up at 4 in the morning and started wrapping papers in rubber bands next to the wall heater. Homeless for 6 years and made money all kinds of ways, the best being walking a greenbelt and collecting the golfballs golfers hooked into. In the late 80's early 90's I would make about 60-100 bucks a weekend just selling golfballs. Started working construction at 15 under the table and was making 300 a weekend at 15. Fucking kids are soft , sissy bitches |
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Posted: 6/9/2018 2:42:09 PM EDT
[#40]
What sucks is the economy is going to take a shit again. It always does. Without some type of savings cushion, I fear people will fare even worse than 2008. Especially the younger folks.
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Posted: 6/9/2018 2:49:26 PM EDT
[#41]
Maybe they’ll wise up and take an axe to social security...
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Posted: 6/9/2018 2:49:47 PM EDT
[#42]
Quote HistoryQuoted: Dow 2009: 6443 Dow today: 25,500. I made out relatively OK during that shit period (thank the good Lord) but I also acknowledge that many people simply did not. |
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Posted: 6/9/2018 3:06:04 PM EDT
[#43]
Quote HistoryQuoted:
I love how this mood on this website from 2008-2013 was that the fucking world was going to end tomorrow (economically speaking) and everyone was fucked, but now the expectation is that those that entered adulthood somewhere around this time period are supposed to now be independently wealthy. |
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Posted: 6/9/2018 3:06:59 PM EDT
[#44]
MY body's ready
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Posted: 6/9/2018 3:08:36 PM EDT
[#45]
Quote HistoryQuoted:
Yeah, with unemployment at 10% in 2009 (which was called out as fake news around here) and very little work experience, recent graduates were snapping up all of those high paying jobs and just stuffing their 401(k) accounts to the IRS maximum every year - they should all have mid six figure balances by now. I made out relatively OK during that shit period (thank the good Lord) but I also acknowledge that many people simply did not. Quote HistoryQuoted:
Quoted: Dow 2009: 6443 Dow today: 25,500. I made out relatively OK during that shit period (thank the good Lord) but I also acknowledge that many people simply did not. |
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Posted: 6/9/2018 3:13:22 PM EDT
[#46]
Quote HistoryQuoted:
Wow so edgy. This fucking place. I need a break from you people. Quote HistoryQuoted:
Quoted:
Good This fucking place. I need a break from you people. |
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Posted: 6/9/2018 3:14:53 PM EDT
[#47]
"Some will win
Some will lose..... Some were born to sing the blues....." And some will seek out and take advantage of ever present opportunity, bust their asses; and sacrifice to become successful. |
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Posted: 6/9/2018 3:24:42 PM EDT
[#48]
No sense in trying to blame your situation on the Boomers, either. We didn't have anything to do with setting up the systems we now depend on in retirement (SS and Medicare) - they were established before we were born or when we were kids. We are also not responsible for the bind that they are in now. The main problem with both systems is 'mission creep', where the original intent gets stretched to get more people under the umbrella than it was designed for. This works great to get politicians reelected but unfortunately means the systems go broke. As far as Medicare, I believe it will be given the ultimate expansion and become the 'National Health Care' that everybody wants. Some younger people also have the idea that Medicare is free - that is not the case. Part A is but that is what used to be called 'Major Medical', or 'hospitalization' for major illness or injury. Part B is your regular medical and costs $125/mo. Then, you really need a supplemental policy which at the group rate is know about $200/mo. Then, there's Part D which is your prescription drug plan, costs vary but around $45/mo. Finally you need dental insurance which is about $100/mo. So you can see that a typical Medicare couple may pay around $1000/mo. This is definitely not 'free' so it should not be termed an 'entitlement'. Same thing with SS - most people on it paid into it for 40 years or more and a substantial number either don't live to start taking it or don't live long after retirement. Obviously a few do live for 20 years after retirement. I know the SSA recently upped the maximum salary subject to deductions for SS but its still artificially low considering the salaries of today. It should be bumped to at least $250,000 which would provide a shot of income. The SSA should also be audited because there is vast fraud associated with it now, just like the IRS and all other government agencies. There are millions living off it right now who have no business getting it. While it is recognized that cutting off SS to those who are not qualified to get it would definitely start a nasty war, it would certainly end the funding emergency.:)
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Posted: 6/9/2018 3:27:17 PM EDT
[#49]
Quote HistoryQuoted:
Good |
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Posted: 6/9/2018 3:29:18 PM EDT
[#50]
Quote HistoryQuoted:
Fucking kids are soft , sissy bitches See the thread about some dude letting their 10 year old kid see Saving Private Ryan? The butt hurt and outrage in that thread was as if someone invited all the daffy broads over to get boxed wine drunk and cunt. Holy Christ the ass hurt in that thread would give you cancer! Act like they made junior shoot a pig in the gut to listen to it scream and make junior to go put a finishing blow with a 12 gauge to porky's head. Starts at home, and extended into schools. Now what do I see? A good portion of my generation living at home with mom and dad until their 30s. 0 equity. 0 assets paid for. Loans out the ass. Worse if they have crotch fruit combined with college loan debt. No wonder a significant majority of my generation are Bernie bros. Look at the generation behind mine... no sense of purpose no character, eating tide pods and shooting up schools... |
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