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I'm not saying it's totally justified, but we who came after see the boomers as a profligate generation who squandered the nation's wealth, leaving us with a very large tab.
Totally agree with you, they are running this country into the ground, refuse to retire and we are all left with the tab. Social security must be nice because I will probably never see it.
Totally agree with you, they are running this country into the ground, refuse to retire and we are all left with the tab. Social security must be nice because I will probably never see it.
You mean I can fix all this by early retirement and living below my means? Buddy I did that in 2007 and am driving a used Camry and ate tofu and rice for dinner at home so now what's your excuse ?
I came to this country 1977 with $150 and 2 suitcases knew no one
In 1991 brought my sick parents here and took care of them ever since
Your faultfinding and whimpering is revolting grow up
Last edited by Huckleberry3911948; 02-23-2014 at 09:45 PM..
If younger people make this kind of mistake they presumably still have several decades to make it right. For a 60 year old woman to take on that kind of debt is colossally irresponsible.
Not really --- how is it better to be deep in debt for your entire adult life? At least this woman waited and if she plays her cards right, she may have only 10-20 years of huge debt. They can't take it from her after she leaves this earth.
I knew this guy who was still driving at age 96. He said he was going to buy a new car, but take out a 6 year loan for it.
He was probably just joking but it's very possible they would have given him a 6 year loan for a new car. Someone gave this woman all that money for something they can never recover the money.
Not really --- how is it better to be deep in debt for your entire adult life? At least this woman waited and if she plays her cards right, she may have only 10-20 years of huge debt. They can't take it from her after she leaves this earth.
They can't take it from her, so they will from the rest of us.
The lender bothers me as well, but they'll loan to anyone since they are virtually assured of getting their money, as student loan debt cannot be discharged in bankruptcy. They probably figures she has at least 15-25 years left so they can get a nice cut of her social security.
Quote:
Originally Posted by malamute
It's the lender that should bother everyone.
I knew this guy who was still driving at age 96. He said he was going to buy a new car, but take out a 6 year loan for it.
He was probably just joking but it's very possible they would have given him a 6 year loan for a new car. Someone gave this woman all that money for something they can never recover the money.
Meet Nancie Eichengreen, 60 years of age. In 2012, after getting laid off from her legal secretary job, she decided to 'reinvent' herself, and went back to school (Yeshiva, an expensive private university) to pursue a master's in social work. She got the degree, but is still jobless and now $200k in debt.
The median salary for a social worker is $42k. I can't even begin to conceive what this woman was thinking.
So what? First of all, if she isn't a fictional character, she definitely is not a typical character. One nutcase. This example is supposed to mean something?
can you even imagine the economy if all the boomers would have all planned for their retirement? I can't.
Ha! Interesting question! It is true that thanks in part to the lavish spending of that generation that we had such a booming economy. Supposedly our generation should have taken advantage of the momentum and generated enough money to support that generation when they retire. After all, if they didn't save money for themselves that money must have gone to the pocket of someone else.
Ha! Interesting question! It is true that thanks in part to the lavish spending of that generation that we had such a booming economy. Supposedly our generation should have taken advantage of the momentum and generated enough money to support that generation when they retire. After all, if they didn't save money for themselves that money must have gone to the pocket of someone else.
It went straight into the pockets of the financial industry. The prosperity of the boomers was a plastic fueled binge, and our credit is now maxed out.
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