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Old 11-25-2011, 03:23 AM
 
33,016 posts, read 27,301,116 times
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The hosts of a conservative radio talk show cited a survey in which one-quarter of workers surveyed (boomers I think) expected they would have to work until 80 in order to live comfortably in retirement.

The hosts wondered what kind of jobs might be available for these oldsters...greeter at Walmart, perhaps a desk job at a storage facility...probably not a whole lot of available jobs for these people, plus most employers would not want to hire someone that old.

So how will these people live when they're, say, 70 or 65 and unable to work or rejected by employers? Will there be a large grey underclass?
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Old 11-25-2011, 04:51 AM
 
Location: Los Angeles area
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The main point of the OP is excellent, namely that it will not be possible, except in rare cases, to just "work until 80" at will, for health and other reasons. There may well be a "grey underclass", but I not sure it will be "large", because a lot hinges on how we define "live comfortably in retirement". As other posters have said in other threads, many upper middle class folks may discover that they can live "comfortably" without such "requirements" as granite counter-tops, frequent cruises, designer labels on their clothes, and a BMW or a Mercedes (or the like) in the garage.

In my view, that's the trouble with surveys like the one referred to; too much about them is ill-defined.
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Old 11-25-2011, 06:43 AM
 
Location: Bangor Maine
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Most all of the new construction of appartments in this area are being build for "low income" seniors. They are never required to pay more than 30% of their income for these after income guidlines to get into them. Most are small, no frills with one bedroom, occasionally 2 bedrooms are available and also effeciencies.
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Old 11-25-2011, 07:03 AM
 
Location: Verde Valley AZ
8,775 posts, read 11,846,353 times
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Quote:
Originally Posted by freemkt View Post
The hosts of a conservative radio talk show cited a survey in which one-quarter of workers surveyed (boomers I think) expected they would have to work until 80 in order to live comfortably in retirement.

The hosts wondered what kind of jobs might be available for these oldsters...greeter at Walmart, perhaps a desk job at a storage facility...probably not a whole lot of available jobs for these people, plus most employers would not want to hire someone that old.

So how will these people live when they're, say, 70 or 65 and unable to work or rejected by employers? Will there be a large grey underclass?
I've thought about this a LOT. As of now, I am in great health and working part time...supposedly. Sometimes it FEELS like full time. But I figure as long as I can get up in the morning and get there I'm good.

There are probably worse jobs than "greeter at Walmart". In fact, that's where I started when I went to work there. It's not that boring, you can stay as busy as you want, but I have way too much energy to do it as my primary job so I switched to cashier and LOVE it.

I think about what I'll do when I'm 80...if I'm lucky enough to live that long...and decided I'll probably end up under a bridge somewhere in a refigerator box! I wonder...can I call it a 'condo' if I use TWO of them???

I think "comfortably" is what we expect out of our life. Right now I am comfortable, live in a small place and am happy with it. I have everything I 'need', probably the things I 'want' as well when I can afford it, and am trying to just hold onto that. Maybe, when I'm older, I can get into subsidized housing but as long as my mom is alive I'm okay. I pay her the same as I would in subsidized housing, including all utilities, etc..
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Old 11-25-2011, 07:09 AM
 
Location: Verde Valley AZ
8,775 posts, read 11,846,353 times
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Quote:
Originally Posted by Escort Rider View Post
The main point of the OP is excellent, namely that it will not be possible, except in rare cases, to just "work until 80" at will, for health and other reasons. There may well be a "grey underclass", but I not sure it will be "large", because a lot hinges on how we define "live comfortably in retirement". As other posters have said in other threads, many upper middle class folks may discover that they can live "comfortably" without such "requirements" as granite counter-tops, frequent cruises, designer labels on their clothes, and a BMW or a Mercedes (or the like) in the garage.

In my view, that's the trouble with surveys like the one referred to; too much about them is ill-defined.
Guess it's a good thing I have never cared about such things and never will. Heck, I haven't even had a kitchen stove for the past 2.5 years and still don't miss it! I have plenty of small appliances that work very well for what I need.

I watch those shows on HGTV...House Hunters, et al...and just shake my head at some of those people. Perfectly good and nice homes but they ALL need 'updated' because they don't have granite counter tops and stainless appliances. I've worked in many restaurants where I had to keep that stainless clean and decided LONG ago that I'd NEVER have it in my house! lol
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Old 11-25-2011, 07:45 AM
 
Location: Sierra Vista, AZ
17,531 posts, read 24,591,218 times
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Quote:
Originally Posted by freemkt View Post
The hosts of a conservative radio talk show cited a survey in which one-quarter of workers surveyed (boomers I think) expected they would have to work until 80 in order to live comfortably in retirement.

The hosts wondered what kind of jobs might be available for these oldsters...greeter at Walmart, perhaps a desk job at a storage facility...probably not a whole lot of available jobs for these people, plus most employers would not want to hire someone that old.

So how will these people live when they're, say, 70 or 65 and unable to work or rejected by employers? Will there be a large grey underclass?
Ask Ron Paul, it's the same as the uninured, They Won't.

Soylent Green
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Old 11-25-2011, 08:53 AM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,063 posts, read 80,100,596 times
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Like all ages, there are seniors with low paying jobs and others doing just fine. Where I work there are a lot of managers and executives approaching or in their 70s making well over $150,000. With social security(?) and their pension they should be fine upon retirement, but are staying because of the
uncertainty and because they enjoy their jobs.
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Old 11-25-2011, 09:12 AM
 
14,300 posts, read 14,088,313 times
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Quote:
The hosts of a conservative radio talk show cited a survey in which one-quarter of workers surveyed (boomers I think) expected they would have to work until 80 in order to live comfortably in retirement.

The hosts wondered what kind of jobs might be available for these oldsters...greeter at Walmart, perhaps a desk job at a storage facility...probably not a whole lot of available jobs for these people, plus most employers would not want to hire someone that old.

So how will these people live when they're, say, 70 or 65 and unable to work or rejected by employers? Will there be a large grey underclass?
I think its unrealistic to expect to work past age 70, no matter what one is doing. Although, my wife has told me about a couple of women in her governmental organization that are well into their 70's and still working. From what I am lead to believe, both are single and believe they would have nothing to do if they retired.

Those of us who are self-employed don't have to worry about being fired or laid off. My current plan, health permitting, is that I will work until age 70.

In answer to your questions, I have great fears about what lies ahead for many of the late baby boomers and generation X when we retire. Not enough is being done to prepare for retirement. The years when one worked for a large corporation for 30 years and earned a defined benefit retirement are gone. The solutions would be (1) More vigorous enforcement of age discrimination laws in the work place; (2) Redesigning some jobs so that older people can do them; (3) Strengthening social security and medicare through the addition of new revenues along with limiting certain types of benefits; and (4) More savings for retirement from individuals.

Now, here's the problem: Every single reform I've just named is being prevented by current economic conditions. Vigorous enforcement of age discrimination laws becomes difficult when there are no new jobs for younger workers. Redesigning jobs to fit the needs of older workers is a virtual impossibility when scores of younger workers are available to do a job without redesigning it. Strengthening social security and medicare through the addition of new revenues is next to impossible when most everyone seems to agree that short term tax increases will make this recession even worse. Getting people to save more for retirement is an extremely difficult proposition when the stock market is flat, the real estate market has been down for years, and when returns on treasury bills and bonds are in the 1% range.

I hope I am wrong. I have dreams and visions of what the future may hold that include breadlines, soup kitchens, and homeless people everywhere living on the street.
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Old 11-25-2011, 12:57 PM
 
33,016 posts, read 27,301,116 times
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Quote:
Originally Posted by Newdaawn View Post
Most all of the new construction of appartments in this area are being build for "low income" seniors. They are never required to pay more than 30% of their income for these after income guidlines to get into them. Most are small, no frills with one bedroom, occasionally 2 bedrooms are available and also effeciencies.

Ah yes, these appear to be "Low Income Housing Tax Credit" properties where the developer gets a big tax break for agreeing to reserve a certain number of apartments for low-income residents for a certain number of years. (The size of the tax break is based on how many units are income-restricted, but it's big enough to attract investors, including Robert Kiyosaki (Rich Dad, Poor Dad.)) The developer signs a contract but has the option of backing out by paying back a pro-rated portion of the tax credits received.

Low-income senior housing tends to be a popular political response in communities accused of NIMBY policies and attitudes. Allowing this type of housing allows communities to counter the NIMBY label - "see, we've got low-income housing" - without the negative baggage often associated with low-income housing.

In these communities, you often find a surprisingly large supply of senior low-income housing and NONE of the non-senior variety, as if they are overcompensating.
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Old 11-25-2011, 01:02 PM
 
33,016 posts, read 27,301,116 times
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Originally Posted by Boompa View Post
Ask Ron Paul, it's the same as the uninured, They Won't.

Soylent Green

But I hope to remain uninured, and never to become inured.
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