The Graying o0f Americas Bankruptcy filers.

Trump has employed more people and has signed fronts of more checks than the whole Democratic party has.

 

Luck?

I'm not in the financial position that I'm in now due to luck.

 

Many baby boomers assumed that somebody would take care of them financially and didn't plan appropriately.

I know many from that age group, who were brought up in a steller economy.

I thought SS was supposed to prevent this. What a failed program, it needs to be ended.

 

We knew this was coming already. These people didn't have enough money to retire, and no one was looking out to the future to see what was going to happen.

A lot of these older people were devastated after being laid off in their late working years (in the wake of the Recession). Had to take another job paying far less money, or were forced into early retirement.

 

Ill note that you never actually blamed the people. Its always somebody else's fault.

$69,000 over a working career of 40 years? Thats less than $2000 a year people saved. That's $35 per week.

 

That's what large amounts of offshore oil revenue will get you.
The U.S. isn't lucky enough to have that, relative to their large population.

 

I agree. I am down here in Texas on contract, and I have seen so many pick up trucks that sell for 30k to 40K on the roads, and expensive crossovers. I always wonder where are these people getting the money to buy this stuff? I have lived under my income for 50 years. I am now 68, a well paid professional, and my pick up truck is 5 years old, and I paid cash for it new.

You cannot have nice things if you cannot afford it, and DO NOT put such things on credit, your mortgage you soul for it.

 

Bullshit.

Most pensions for these people are UNSUSTAINABLE. Because it's government, the fact that these "earned" benefits are bankrupting the organization doesn't seem to matter. There is a reason most private employers don't participate in pension plans anymore, and if they do the employee heavily contributes.

https://www.forbes.com/sites/adaman...-teachers-retirement-system-trs/#65aaff626129

This is absurdity.

 

LOL.

You do realize that the majority of private sector workers participate in private retirement plans right.

They are not getting screwed. Well, they are, in the form of taxes to support fat cat government workers who have pensions that are unsustainable.

 

You love cradle to grave governments don't you? You need to be taken care of, have a nanny state government take care of you?

 

^Yeah, that would be the involuntarily taxpayer-funded public union PR lie narrative on the topic.

 

Thanks obama.

 

Did I miss taxes you pay on 401k contributions and appreciation?

But, on the other hand, there are high 401k fees, poor plans, front load fees, undisclosed commissions etc. All of these "benefits" of financial advisers screw retirees much more than the government ever could.

 

Yeah, tiny, culturally homogenous oil rich per capita countries with populations that could fit nearly twice in my single state, and extremely stringent immigration policies can do that kind of thing. Especially when U.S. taxpayers subsidize their national defense. Keep preaching that "free stuff" pipe dream.

 

I did blame the people. Did you miss my line on the "inability of the average person to save"? That includes buying a lot of stuff they don't need instead of contributing to their 401k. That's exactly why I want SS to continue in ts current way, so these people will still make a living in retirement, instead of living on the street.

 

Yes it's going broke, according to most economists.

 

I went into the Air Force making about half what I could have on the outside with a bachelor of science degree in engineering. For the entire twenty years my income was considerably less. The extra amount I could have earned on the outside would have easily paid for the 50% retirement I am getting now. That is 50% of base pay, by the way and does not include 50% of the other pay I received for housing and subsistence. I had a brother in law who never finished high school who made more than I did. Only a bit over half of the officers make it to retirement because of the up or out rules. I served my time in Vietnam and survived a half dozen recoilless rifle and mortar attacks, was subjected to Agent Orange and spent a great deal of time separated from my family. I never complained and would do it again in a minute.

All I can say is those of you who think it is such a picnic, you are free to join up and maybe you will also make it to retirement age.

 

I could get behind a system that you propose. However, you have to realize that not all people are as well-intentioned as you are and want to actually improve the system. The biggest push is from people who want to get their hands on retirees money and want to screw them with high fees, front loads etc.

 

it's partly luck, you could of been born with physical\health problems, you could of been born to bad parents, not happened to grow up where you did, all kinda lucky circumstances, not saying it's all luck, but it plays a part

some like Dirty Donald are born on third base and think they hit a triple

 

That's what happens when good parents raise children. They put the time and effort into raising their children so that they do get to start the game of life at first and goal on the 1 yard line.

That's not luck.

Sure there is always the possibiolity of physical/health problems, but again, good parents can negate a lot of that. Still not luck, but rather hard work.

 

From "Far Right" Brookings Institute:

https://www.brookings.edu/opinions/...teens-should-follow-to-join-the-middle-class/

Poor people have to do only three things to have a 98% chance of escaping poverty and a 75% chance of joining the middle class (55k and above income).

1. Finish High School. 2. Get a full time job. 3. Don't get married or have kids until the age of 21.

Don't believe all the public union lie narratives on "vanishing middle class," etc. They are all BS.

 

Can I ask where you live?

Your advice probably wouldn't be recommended to people living in high cost of housing areas. It would take a lot more than high school and just getting any full time job. In fact I would go so far to say that your advice you just gave could likely end up dooming them to homelessness. If you're barely managing to scrape by and the slightest thing goes wrong.

 

You can ask, I will answer that I have lived all over the country. Maybe better to make a point directly than this kind of thing?

I will say that I grew up in an 800 sqft $3000 house and had patches on my hand me down clothes if that helps.

 

I will say that where I've lived, you can't find a home for 300,000

 

Sure, I made the good decision to be born in a first-world country to upper middle class parents who really cared about me.

Unlike those slackers who chose to be born in Malawi. They are so lazy that they only make $1,000 a year.

Give me a break.