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Posted: 6/9/2018 7:10:06 PM EDT
[#1]
Quote HistoryQuoted:
Everyone gets to work longer that the prior generation, every generation lives longer (average life expectancy) than the prior generation. It wouldn't work any other way. |
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Posted: 6/9/2018 7:10:32 PM EDT
[#2]
With government run health care coming soon, and shortly thereafter a universal basic income it won't matter. There will simply be "the rich" and then the rest who make a conscious decision to do little or nothing and live off the government tit which will be paid for by the wealthy. I am simply hoping that I won't live long enough to see the government steal all my hard earned retirement savings before I can spend it myself.
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Posted: 6/9/2018 7:13:47 PM EDT
[#3]
These damn threads...
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Posted: 6/9/2018 7:14:34 PM EDT
[#4]
What a stupid fucking article. I don't believe this can be attributed to only millennials. I work with all age ranges. Every fucking age here doesn't have a clue. One of my bosses never has money to pay for shit, doesn't have shit for retirement and just bought a new jag. Hmm i wonder why you can't retire. And just graduated with some bullshit degree and is over 50.
I've got another employee who saves up everything, has Roth, 403, a pension here, life insurance plan with a high cash value. She just laughs at ppl when they whine about money cause she knows how to play the game and is 30. Just hired a girl who isn't 21 yet and was already asking how our retirement plans worked. Gave her all the info and was surprised she was so on board with it. One guy buys those stupid monthly battle boxes every month, drives an a fj cruiser (damaged in accident) and can't afford to fix it but still buys new wheels for it. Then bitches how much tires cost for it. WTF. He also walked away from his house years ago cause he couldn't sell it and wanted to move in with his gf. No retirement to speak of. He's almost 50 and a gun guy. I signed on the dotted line at 18 and told my dad I'm not gonna be in debt to you for college. Uncle Sam trained me how to do a job in the army and civilian side. No student loans for me. IRAs are looking nice right now. Still put money into savings. Also started a business with a guy i was in the army with. That's starting to pay off and even if it went under I wouldn't even feel the sting. Some ppl have a good head on their shoulders no matter their age. Everyone else just makes excuses. |
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Posted: 6/9/2018 7:17:32 PM EDT
[#5]
This is a depressing thread.
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Posted: 6/9/2018 7:17:41 PM EDT
[#6]
Quote HistoryQuoted:
People busted their asses to succeed in the USSR, and did. That doesn't make communism ok or its victims deserving. Quote HistoryQuoted:
Quoted:
"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 7:21:26 PM EDT
[#7]
“Give me just one generation of youth, and I'll transform the whole world.”
Vladimir Lenin and we've been giving untold generations to women to educate. 
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Posted: 6/9/2018 7:30:31 PM EDT
[#8]
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Yeah, I'm getting on this site less and less. Quote HistoryQuoted:
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Good This fucking place. I need a break from you people. |
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Posted: 6/9/2018 7:36:44 PM EDT
[#9]
Love how boomers shit on millennials but quickly forget that their much of their generation have been fighting our endless cycle of wars over the past 18 years.
All Boomers did was smoke weed and protest vietnam. |
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Posted: 6/9/2018 7:50:46 PM EDT
[#10]
Quote HistoryQuoted:
  Quote HistoryQuoted:
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They lost 6 to 8 years max due to the recession. There are plenty of depression Era folks who lost 12 to 15 years. The economy is humming now so it should be no problem to get overtime and start making up lost ground. No excuses. |
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Posted: 6/9/2018 7:55:09 PM EDT
[#11]
Most Mexicans, Hondurans, Guatemalans have more in savings after being here a year, than most Americans, pud fuckers that haven't prepared should be embarrassed
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Posted: 6/9/2018 7:56:19 PM EDT
[#12]
Quote HistoryQuoted:
Love how boomers shit on millennials but quickly forget that their much of their generation have been fighting our endless cycle of wars over the past 18 years. All Boomers did was smoke weed and protest vietnam. They started the spawn of degeneracy. They became politicians school teachers and college professors who were on board with making every generation limp wristed feeble whiney entitled lazy worthless stupid fucks. |
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Posted: 6/9/2018 8:14:22 PM EDT
[#13]
Quote HistoryQuoted: What a load of bullshit and false paraphrasing to make a non existent point. 
Boomers honestly believe that their economic status was derived from harder individual work instead of an easier economic environment. The absence of self-awareness lets boomers (as a faction) deny themselves extra-factional individuality or the honest reconcilation of noblesse oblige, which permits anti-boomer sentiment to unify across income brackets and political factions. |
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Posted: 6/9/2018 8:18:04 PM EDT
[#14]
Quote HistoryQuoted:
That's cool...well just get our inheritance and homes passed down from mommy and daddy Any of them with assets cash out their paid off house and go to cushy rich old folk communities for their last lucid fart sniffing and wine sipping years. |
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Posted: 6/9/2018 8:18:26 PM EDT
[#15]
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. Nothing wrong with making money as long as there's a little spreading of the wealth as well. |
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Posted: 6/9/2018 8:24:53 PM EDT
[#16]
I started working 7 days a week in ‘68. I am still working 50 years later.
I may be able to retire in 5 years. Go piss on someone else’s leg, kid. |
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Posted: 6/9/2018 8:31:22 PM EDT
[#17]
Quote HistoryQuoted:
Good Millennials don't have shit on baby boomers as far as entitlement mentality goes. |
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Posted: 6/9/2018 9:29:39 PM EDT
[#18]
Quote HistoryQuoted:
They literally were the David Hogg of their time. They started the spawn of degeneracy. They became politicians school teachers and college professors who were on board with making every generation limp wristed feeble whiney entitled lazy worthless stupid fucks. Quote HistoryQuoted:
Quoted:
Love how boomers shit on millennials but quickly forget that their much of their generation have been fighting our endless cycle of wars over the past 18 years. All Boomers did was smoke weed and protest vietnam. They started the spawn of degeneracy. They became politicians school teachers and college professors who were on board with making every generation limp wristed feeble whiney entitled lazy worthless stupid fucks. 
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Posted: 6/9/2018 9:33:27 PM EDT
[#19]
Whambulance en route
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Posted: 6/9/2018 9:33:58 PM EDT
[#20]
Quote HistoryQuoted:
Unemployment these days is also fake news. Most jobs are service (waiter, coffee barista, etc.) and the number participating in the labor force has dropped. It's easy to make unemployment numbers look rosy when a substantial number of folks just stop caring about working because welfare pays so well. Quote HistoryQuoted:
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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. Those are longer term issues. 
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Posted: 6/9/2018 9:34:55 PM EDT
[#21]
Quote HistoryQuoted:
There are generational differences in how people lived and earned a living. Pensions are not as common and the housing market in much if the country is insane, none of which has to do with personal responsibility. Quote HistoryQuoted:
Quoted:
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. Personal responsibility and Personal responsibility. And what, you may ask, is overwhelmingly lacking in my generation? |
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Posted: 6/9/2018 9:37:32 PM EDT
[#22]
Quote HistoryQuoted:
It all boils down to what people CAN'T do and what they WON'T do. Is it mostly that people can't live in an area with affordable housing or that they won't live in an area with affordable housing in your example? Would you agree that most people are not being forced to live in high cost of living areas against their will? Quote HistoryQuoted:
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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. Personal responsibility and Personal responsibility. And what, you may ask, is overwhelmingly lacking in my generation? They are retarded. Like not even joking around here. If you guys want examples, I'll post them |
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Posted: 6/9/2018 9:50:01 PM EDT
[#23]
Quote HistoryQuoted:
But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. Quote HistoryQuoted:
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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. |
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Posted: 6/9/2018 9:50:56 PM EDT
[#24]
Quote HistoryQuoted: To be fair and "tattle" on my generation, I am on a Finance page on facebook and you should see the dumbassery by folks my age on there (millenials, not gen z). They are retarded. Like not even joking around here. If you guys want examples, I'll post them I sat with some millenials who started working in my dept. All but one were living on mom and dads dime. Throwing $200 a check into retirement in a decent paying professional job was "too much". Vacation and new cars were more important. |
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Posted: 6/9/2018 9:53:42 PM EDT
[#25]
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 10:02:46 PM EDT
[#26]
Quote HistoryQuoted:
But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. Quote HistoryQuoted:
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. Nothing wrong with making money as long as there's a little spreading of the wealth as well. |
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Posted: 6/9/2018 10:04:17 PM EDT
[#27]
Quote HistoryQuoted:
Why do you even need to ask? POST! I sat with some millenials who started working in my dept. All but one were living on mom and dads dime. Throwing $200 a check into retirement in a decent paying professional job was "too much". Vacation and new cars were more important. Quote HistoryQuoted:
Quoted: To be fair and "tattle" on my generation, I am on a Finance page on facebook and you should see the dumbassery by folks my age on there (millenials, not gen z). They are retarded. Like not even joking around here. If you guys want examples, I'll post them I sat with some millenials who started working in my dept. All but one were living on mom and dads dime. Throwing $200 a check into retirement in a decent paying professional job was "too much". Vacation and new cars were more important. These 3 right off the bat....as we americans would like to say. 1. Millenial Couple, renting getting caught up in the local REAL estate frenzy, They ask, "should we borrow from out 401ks so we have enough to put down on a house to buy today before homes get too expensive and we can't afford a home" After further digging the area they want to buy is midway in between the couple's jobs. They thought this was a phenomenal idea, before I asked why not buy a house in one of the cities where they work which is way cheaper than where they want to live and someone just commutes a whopping 45 mintutes every day. Minds were blown. 2. Woman is a Pharmacist and can't find work in her AO while the husband doesn't make a whole lot of dough either. The Pharmacist, ask if she should works 2-3 jobs until something opens up. I then ask, "why don't you start looking for high paying pharmacist jobs elsewhere, be the bread winner and make your husband work 2-3 jobs until he lands one in his field. Literal crickets. 3. While I respect the determination, a Muslim woman doesn't put into a 401k with match because she doesn't know that a 401k is just a way the IRS catagorizes it and not the type of investment you money is in. So, if you don't beleive in investing in things where lending money for profit is used, just invest in cash in the 401k and get the free match.
Seriously...I nearly have a fucking stroke everyday reading that shit. |
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Posted: 6/9/2018 10:08:13 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. Modern day sans-culottes in the making. The hopelessly impoverished generation after this one will probalby be the violent revolutionaries that at last kick things off. If you boomers want to know why so many millennials didn't get a job until they were thirty, it's because you took over all the paper boy gigs with van delivery, imported a ton of illegal cheap full-timers to run the manual labor gigs, sued the crap out of anyone that tried to employ minors on any level, and most importantly, took their jobs in the entry level food service & storefront businesses because you either failed to save for your own retirement or blew it all on medical bills for your obesity. It's almost rare to find a burger joint that doesn't have several 50+ year old pensioners on the staff supplementing their Socialist Security income; for sure a safer bet to an employer than some idiot kid, but that idiot kid is also denied the opportunity to learn how to work for a living as a result. Boomers shamelessly taking value from the future generations while ignoring the consequences same as always. *stuff that benefits people who already have money is inflating faster (investments, primarily) than cost of living items like food & consumer goods, whereas the base wages that make up the middle & lower class savings growth are nearly flat or effectively declining. Carter called it 'stag-flation' |
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Posted: 6/9/2018 10:10:08 PM EDT
[#29]
Quote HistoryQuoted:
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 10:16:41 PM EDT
[#30]
Quote HistoryQuoted:
Spreading the wealth? Quote HistoryQuoted:
Quoted:
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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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well.
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Posted: 6/9/2018 10:17:12 PM EDT
[#31]
Quote HistoryQuoted:
Yup, we're about to have an entire generation without the ability to build equity, indebted their entire working life due to differential inflation*, their entry into the workforce denied so they could go into school debt instead, and unable to responsibly have kids or get married (financially), who were raised in large part by the Nanny State. Generational wealth is about to evaporate in a hurry. Modern day sans-culottes in the making. The hopelessly impoverished generation after this one will probalby be the violent revolutionaries that at last kick things off. If you boomers want to know why so many millennials didn't get a job until they were thirty, it's because you took over all the paper boy gigs with van delivery, imported a ton of illegal cheap full-timers to run the manual labor gigs, sued the crap out of anyone that tried to employ minors on any level, and most importantly, took their jobs in the entry level food service & storefront businesses because you either failed to save for your own retirement or blew it all on medical bills for your obesity. It's almost rare to find a burger joint that doesn't have several 50+ year old pensioners on the staff supplementing their Socialist Security income; for sure a safer bet to an employer than some idiot kid, but that idiot kid is also denied the opportunity to learn how to work for a living as a result. Boomers shamelessly taking value from the future generations while ignoring the consequences same as always. *stuff that benefits people who already have money is inflating faster (investments, primarily) than cost of living items like food & consumer goods, whereas the base wages that make up the middle & lower class savings growth are nearly flat or effectively declining. Carter called it 'stag-flation' 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. Modern day sans-culottes in the making. The hopelessly impoverished generation after this one will probalby be the violent revolutionaries that at last kick things off. If you boomers want to know why so many millennials didn't get a job until they were thirty, it's because you took over all the paper boy gigs with van delivery, imported a ton of illegal cheap full-timers to run the manual labor gigs, sued the crap out of anyone that tried to employ minors on any level, and most importantly, took their jobs in the entry level food service & storefront businesses because you either failed to save for your own retirement or blew it all on medical bills for your obesity. It's almost rare to find a burger joint that doesn't have several 50+ year old pensioners on the staff supplementing their Socialist Security income; for sure a safer bet to an employer than some idiot kid, but that idiot kid is also denied the opportunity to learn how to work for a living as a result. Boomers shamelessly taking value from the future generations while ignoring the consequences same as always. *stuff that benefits people who already have money is inflating faster (investments, primarily) than cost of living items like food & consumer goods, whereas the base wages that make up the middle & lower class savings growth are nearly flat or effectively declining. Carter called it 'stag-flation' |
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Posted: 6/9/2018 10:17:50 PM EDT
[#32]
Quote HistoryQuoted:
The commie mindset abounds in here. Quote HistoryQuoted:
Quoted:
Quoted:
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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. |
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Posted: 6/9/2018 10:18:07 PM EDT
[#33]
Quote HistoryQuoted:
You could always change employers. Quote HistoryQuoted:
Quoted:
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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. 
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Posted: 6/9/2018 10:19:26 PM EDT
[#34]
Quote HistoryQuoted: You make it for me.
Boomers honestly believe that their economic status was derived from harder individual work instead of an easier economic environment. The absence of self-awareness lets boomers (as a faction) deny themselves extra-factional individuality or the honest reconcilation of noblesse oblige, which permits anti-boomer sentiment to unify across income brackets and political factions. 
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Posted: 6/9/2018 10:19:32 PM EDT
[#35]
Quote HistoryQuoted: @Silverbulletz06 These 3 right off the bat....as we americans would like to say. 1. Millenial Couple, renting getting caught up in the local REAL estate frenzy, They ask, "should we borrow from out 401ks so we have enough to put down on a house to buy today before homes get too expensive and we can't afford a home" After further digging the area they want to buy is midway in between the couple's jobs. They thought this was a phenomenal idea, before I asked why not buy a house in one of the cities where they work which is way cheaper than where they want to live and someone just commutes a whopping 45 mintutes every day. Minds were blown. 2. Woman is a Pharmacist and can't find work in her AO while the husband doesn't make a whole lot of dough either. The Pharmacist, ask if she should works 2-3 jobs until something opens up. I then ask, "why don't you start looking for high paying pharmacist jobs elsewhere, be the bread winner and make your husband work 2-3 jobs until he lands one in his field. Literal crickets. 3. While I respect the determination, a Muslim woman doesn't put into a 401k with match because she doesn't know that a 401k is just a way the IRS catagorizes it and not the type of investment you money is in. So, if you don't beleive in investing in things where lending money for profit is used, just invest in cash in the 401k and get the free match.
Seriously...I nearly have a fucking stroke everyday reading that shit. People are leasing their luxury vehicles, taking big vacations, big ticket items, nothing extra into mortgage or student loans then wonder why they are always paying off loans that seem to go no where. Other folks don't talk about money and I find they have half a million already squirreled away in retirement. |
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Posted: 6/9/2018 10:21:35 PM EDT
[#36]
Quote HistoryQuoted: The commie mindset abounds in here. I started at an hourly rate that is easily achievable, inflation adjusted, today (right now, advertised) at Home Depot being a cashier, FFS. |
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Posted: 6/9/2018 10:21:40 PM EDT
[#37]
Quote HistoryQuoted:
To be fair and "tattle" on my generation, I am on a Finance page on facebook and you should see the dumbassery by folks my age on there (millenials, not gen z). They are retarded. Like not even joking around here. If you guys want examples, I'll post them Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
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. Personal responsibility and Personal responsibility. And what, you may ask, is overwhelmingly lacking in my generation? They are retarded. Like not even joking around here. If you guys want examples, I'll post them I'm always amazed how stupid many people are with money, or how arrogant they are with the little bit of knowledge they do have. |
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Posted: 6/9/2018 10:22:33 PM EDT
[#38]
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. Most Boomers in their 30s were well on the way to paying off their 15 year mortgages with their rising wages, while raising a couple kids. My generation is looking at 10-15 year horizons for home ownership being a better deal than *renting* even with a 20% down payment and 30 year plan. Much like marriage & kids in this day and age, the reality is home ownership has become a very poor use of money (but still a necessary one, for non-monetary reasons) *economic fascism involves control of the economy within a nation through federal manipulation of corporations. Socialism is the direct dissolution of the corporations and management by the government. International fascism is kind of an oxymoron, so control of an economy through international manipulations of corporations is a new animal, a sort of hybrid of the two ideas. |
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Posted: 6/9/2018 10:27:22 PM EDT
[#39]
Quote HistoryQuoted:
That's cool...well just get our inheritance and homes passed down from mommy and daddy That's all assuming your parents saved enough to leave anything in the first place, which is of course not likely unless they themselves were above the average. At least you'll be less likely to incur debts from them than the generation after the millenials. |
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Posted: 6/9/2018 10:28:43 PM EDT
[#40]
Quote HistoryQuoted: Lol. Boomers know just enough about finances to look fond upon cashing out and drinking it all dry to the last drop. Any of them with assets cash out their paid off house and go to cushy rich old folk communities for their last lucid fart sniffing and wine sipping years. The government should seize their assets and distribute them "to each according to need". 
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Posted: 6/9/2018 10:29:22 PM EDT
[#41]
Quote HistoryQuoted: Yup, we're about to have an entire generation without the ability to build equity, indebted their entire working life due to differential inflation*, their entry into the workforce denied so they could go into school debt instead, and unable to responsibly have kids or get married (financially), who were raised in large part by the Nanny State. Generational wealth is about to evaporate in a hurry. Modern day sans-culottes in the making. The hopelessly impoverished generation after this one will probalby be the violent revolutionaries that at last kick things off. If you boomers want to know why so many millennials didn't get a job until they were thirty, it's because you took over all the paper boy gigs with van delivery, imported a ton of illegal cheap full-timers to run the manual labor gigs, sued the crap out of anyone that tried to employ minors on any level, and most importantly, took their jobs in the entry level food service & storefront businesses because you either failed to save for your own retirement or blew it all on medical bills for your obesity. It's almost rare to find a burger joint that doesn't have several 50+ year old pensioners on the staff supplementing their Socialist Security income; for sure a safer bet to an employer than some idiot kid, but that idiot kid is also denied the opportunity to learn how to work for a living as a result. Boomers shamelessly taking value from the future generations while ignoring the consequences same as always. *stuff that benefits people who already have money is inflating faster (investments, primarily) than cost of living items like food & consumer goods, whereas the base wages that make up the middle & lower class savings growth are nearly flat or effectively declining. Carter called it 'stag-flation'  Attached FileAnd while the value of the dollar may go down, the value of the economy does not. Where does that value go? Transferred to the government and those businesses closest to the government (banks, contractors, etc.). |
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Posted: 6/9/2018 10:32:17 PM EDT
[#42]
A lot of boomers have it no better, especially city dwellers.
The no retirement plan part I think is bullshit. There are more 401ks than ever. Even the shit companies offer 401ks these days. They may have shitty investment options and a poor company match, but they exist. There are hardly any pensions anymore, but that affects boomers as well. Pensions went away in the 80's. I do agree with student loan debt part. IMO, as student loans became more available, universities raised tuition. When I was in school, if you were a commuter and went to a state university, you most likely did not need a student loan. It was affordable enough that your parents could swing it no problem. Not today. Even the state schools are freakin' expensive and tens of thousands of kids graduate into a shrinking job market with loads of student debt to pay off. That sucks. Hell, I remember one semester my junior year tuition + books was $350. |
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Posted: 6/9/2018 10:33:55 PM EDT
[#43]
In this thread the grasshoppers demand "their fair share" from the ants.
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Posted: 6/9/2018 10:34:11 PM EDT
[#44]
Quote HistoryQuoted:
When pensions and Social Security were set up, they were right at the average life expectancy. They were never meant to be 20+ years of not working and drawing a check. But those two generations certainly sucked the post-WWII surplus dry. Quote HistoryQuoted:
Quoted:
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.  So with promises of helping little old ladies who'd outlived their husbands, Medicare and Social Security were concocted as a way to convince US workers to give Uncle Sam a hamburger today, for payment next Tuesday. Some half-assed window dressing aimed at public appearance was the closest Social Security ever claim to being a legitimately managed pension fund.
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Posted: 6/9/2018 10:35:41 PM EDT
[#45]
Quote HistoryQuoted:
The commie mindset abounds in here. Quote HistoryQuoted:
Quoted:
Quoted:
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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. |
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Posted: 6/9/2018 10:39:11 PM EDT
[#46]
Quote HistoryQuoted:
Lots of people to blame for this, but Wilson (Federal Reserve) and FDR/Nixon (fiat currency) are the biggest factors. https://www.AR15.Com/media/mediaFiles/61337/purchasing-power-of-the-us-dollar-1913-to-2013_517962b78ea3c_w1500-570913.JPG And while the value of the dollar may go down, the value of the economy does not. Where does that value go? Transferred to the government and those businesses closest to the government (banks, contractors, etc.). Quote HistoryQuoted:
Quoted: Yup, we're about to have an entire generation without the ability to build equity, indebted their entire working life due to differential inflation*, their entry into the workforce denied so they could go into school debt instead, and unable to responsibly have kids or get married (financially), who were raised in large part by the Nanny State. Generational wealth is about to evaporate in a hurry. Modern day sans-culottes in the making. The hopelessly impoverished generation after this one will probalby be the violent revolutionaries that at last kick things off. If you boomers want to know why so many millennials didn't get a job until they were thirty, it's because you took over all the paper boy gigs with van delivery, imported a ton of illegal cheap full-timers to run the manual labor gigs, sued the crap out of anyone that tried to employ minors on any level, and most importantly, took their jobs in the entry level food service & storefront businesses because you either failed to save for your own retirement or blew it all on medical bills for your obesity. It's almost rare to find a burger joint that doesn't have several 50+ year old pensioners on the staff supplementing their Socialist Security income; for sure a safer bet to an employer than some idiot kid, but that idiot kid is also denied the opportunity to learn how to work for a living as a result. Boomers shamelessly taking value from the future generations while ignoring the consequences same as always. *stuff that benefits people who already have money is inflating faster (investments, primarily) than cost of living items like food & consumer goods, whereas the base wages that make up the middle & lower class savings growth are nearly flat or effectively declining. Carter called it 'stag-flation' https://www.AR15.Com/media/mediaFiles/61337/purchasing-power-of-the-us-dollar-1913-to-2013_517962b78ea3c_w1500-570913.JPG And while the value of the dollar may go down, the value of the economy does not. Where does that value go? Transferred to the government and those businesses closest to the government (banks, contractors, etc.). 
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Posted: 6/9/2018 10:40:20 PM EDT
[#47]
What is more logical:
Younger generations magically don’t know how to save or massive cost of living increases has made saving harder? School Medical Mandated insurance for everything Inflation How are those without significant salaried jobs supposed to put any serious amount of money back without living like a pauper? |
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Posted: 6/9/2018 10:40:22 PM EDT
[#48]
Quote HistoryQuoted:
"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. You lived through the Carter/Reagan years; did you have that attitude during that rapid inflationary period? Practically everyone agrees we're ripe for another fleecing of the finances in this country. |
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Posted: 6/9/2018 10:42:26 PM EDT
[#49]
Quote HistoryQuoted:
When the SS retirement age was established life expectancy was much shorter than it is now. Most people only made it a few years. Now making it 20 years is not that uncommon. |
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Posted: 6/9/2018 10:43:38 PM EDT
[#50]
Quote HistoryQuoted:
Feel the Bern. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
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. But corporate profits and management bonuses will continue to grow exponentially..... Nothing wrong with making money as long as there's a little spreading of the wealth as well. They wouldn't even piss on the type of life decisions we've made that allowed us to retire comfortably. What we've earned they think was stolen from them. |
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