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Old 09-07-2014, 03:46 PM
 
6,791 posts, read 7,122,107 times
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Quote:
Originally Posted by f5fstop View Post
Existing payments...true. But it is not due to the love for the seniors, it is due to the fact seniors are a tried and true voting block. That will change in a few years as they start dying out. Will the government then keep the same track, or will they swerve to meet the younger generations idea that SS is just another form of welfare?
That won't happen. As older seniors die off, younger people become seniors. Seniors will always have their livelihood, and well being directly on the line with SS payments, and medicare, so they will always be a strong voting block politicians can't ignore. For most people, the older they get the more they realize how important it is to use their vote instead of squander it because they don't feel like waiting in line, wasting their lunch break, or just don't think to care.
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Old 09-07-2014, 04:03 PM
 
20,878 posts, read 13,848,600 times
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Originally Posted by detshen View Post
That won't happen. As older seniors die off, younger people become seniors. Seniors will always have their livelihood, and well being directly on the line with SS payments, and medicare, so they will always be a strong voting block politicians can't ignore. For most people, the older they get the more they realize how important it is to use their vote instead of squander it because they don't feel like waiting in line, wasting their lunch break, or just don't think to care.
First there is a world of difference in thought between someone who is sixty-four versus twenty-four. Person on SS and or "seniors" are in the last quarter or third of their lives. Younger workers are no where near thus their views will be shaped by conditions on the ground, not what they assume things will be like in forty or more years.

Many younger persons on average(those under thirty or so) have woken up to realize SS is not all it is cracked up to be and at best will provide *something*, but shouldn't be relied upon as a major source of retirement funding. They are concentrating on getting their finances in order (delaying home purchasing and so forth), investing, saving and so forth to build a more solid financial future and retirement.

Remember the youth and young adults today *know* the deal going into the workforce. That is they more likely than not will not have a company pension and that much of their finances as seniors will directly depend upon actions taken while young (saving and investing). As the last wave of Boomer die off so with them goes any memory of corporate pensions and other retirement benefits being the norm for working persons. Kids coming up now *know* if they don't do themselves first they are looking at an old age of poverty or near to it.

It isn't hating but at some point all western societies are going to have to confront the fact younger workers (what there is of them) can be or will no longer stand for vast amounts of generation shifting of wealth.
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Old 09-08-2014, 11:56 AM
 
6,791 posts, read 7,122,107 times
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Quote:
Originally Posted by BugsyPal View Post
First there is a world of difference in thought between someone who is sixty-four versus twenty-four. Person on SS and or "seniors" are in the last quarter or third of their lives. Younger workers are no where near thus their views will be shaped by conditions on the ground, not what they assume things will be like in forty or more years.

Many younger persons on average(those under thirty or so) have woken up to realize SS is not all it is cracked up to be and at best will provide *something*, but shouldn't be relied upon as a major source of retirement funding. They are concentrating on getting their finances in order (delaying home purchasing and so forth), investing, saving and so forth to build a more solid financial future and retirement.

Remember the youth and young adults today *know* the deal going into the workforce. That is they more likely than not will not have a company pension and that much of their finances as seniors will directly depend upon actions taken while young (saving and investing). As the last wave of Boomer die off so with them goes any memory of corporate pensions and other retirement benefits being the norm for working persons. Kids coming up now *know* if they don't do themselves first they are looking at an old age of poverty or near to it.

It isn't hating but at some point all western societies are going to have to confront the fact younger workers (what there is of them) can be or will no longer stand for vast amounts of generation shifting of wealth.
I disagree. Future seniors will more dependent on social security, and medicare than ever and they will always remain the strong voting block they are now, probably even stronger. Wages are stagnating, or falling, and job stability is a thing of the past. Currently, 75% of Americans earn less than 50K, 48% earn less than 25K. People don't make enough to possibly save enough to fund their own retirement. I guarantee as Gen X, and Y become seniors they will be voting in every single election to ensure they get their social security and medicare, many will have little else to rely on.

Younger people don't vote as much, they don't see their lives on the line. As people reach retirement age they see that their interests are directly on the line with every vote. There is no stronger motivation to get to the ballot box every chance you get.

Take a look at Gen X readiness for retirement. Gen X was born between 65-80. They will start retirement in less than 20 years, and they will be voting.

http://www.irionline.org/resources/r...f-generation-x

It's been recommended than Gen Y will need 2 million in retirement savings. Most won't even earn anywhere near that much, they sure won't be able to save it. They will be voting.

Last edited by detshen; 09-08-2014 at 12:09 PM..
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Old 09-08-2014, 01:58 PM
 
20,878 posts, read 13,848,600 times
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Originally Posted by detshen View Post
I disagree. Future seniors will more dependent on social security, and medicare than ever and they will always remain the strong voting block they are now, probably even stronger. Wages are stagnating, or falling, and job stability is a thing of the past. Currently, 75% of Americans earn less than 50K, 48% earn less than 25K. People don't make enough to possibly save enough to fund their own retirement. I guarantee as Gen X, and Y become seniors they will be voting in every single election to ensure they get their social security and medicare, many will have little else to rely on.

Younger people don't vote as much, they don't see their lives on the line. As people reach retirement age they see that their interests are directly on the line with every vote. There is no stronger motivation to get to the ballot box every chance you get.

Take a look at Gen X readiness for retirement. Gen X was born between 65-80. They will start retirement in less than 20 years, and they will be voting.

The Retirement Readiness of Generation X| resources| IRI

It's been recommended than Gen Y will need 2 million in retirement savings. Most won't even earn anywhere near that much, they sure won't be able to save it. They will be voting.

Since we none of us know when our demise will come we are all "future seniors". Thus again am here to tell you those under forty or say under thirty are very well aware (or should be) that changes are going to have to be made to SS. Every other major Western nation as dealt with this issue but the USA who probably won't until forced to by the markets and when demographics finally catch up to the system.

Young persons don't vote much? Really then what group was it that turned out in numbers to put Obama into office *twice*? Have news for you, the average "young person" or adult today is well aware of the minefield of SS and retirement saving/planning then say those of the Boomer generations.

For one thing this group are entering into a workforce where a pension is the exception rather than the norm. Unless they chose government or manage to find some of the handful of places left that do offer any sort of pension young adults are well aware they must take matters into their own hands. They also know SS is going to change. It simply has to because demographics and finances demand. There is no appetite for raising taxes which is what must happen to increase benefits.
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Old 09-08-2014, 03:06 PM
 
6,791 posts, read 7,122,107 times
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Originally Posted by BugsyPal View Post
Since we none of us know when our demise will come we are all "future seniors". Thus again am here to tell you those under forty or say under thirty are very well aware (or should be) that changes are going to have to be made to SS. Every other major Western nation as dealt with this issue but the USA who probably won't until forced to by the markets and when demographics finally catch up to the system.

Young persons don't vote much? Really then what group was it that turned out in numbers to put Obama into office *twice*? Have news for you, the average "young person" or adult today is well aware of the minefield of SS and retirement saving/planning then say those of the Boomer generations.

For one thing this group are entering into a workforce where a pension is the exception rather than the norm. Unless they chose government or manage to find some of the handful of places left that do offer any sort of pension young adults are well aware they must take matters into their own hands. They also know SS is going to change. It simply has to because demographics and finances demand. There is no appetite for raising taxes which is what must happen to increase benefits.
The problem is young people ONLY vote for presidents, unless they change, they will never be the voting block seniors are. Seniors are there at every single election, primaries, midterm, all of them, and politicians know they must keep senior needs in mind. Seniors also vote in state and local elections. Every politician knows they must keep seniors happy, and this will not change because new seniors age in every day.

BTW, the bolded has been true for decades. Gen X has no pensions unless they are govt, most Boomers don't either. Google retirement savings, and you will see that this idea that young people are going to save on their own is simply not true. Many are not even able to find a job. When they reach their 30s, and 40s with little savings like Gen X is they won't be voting for politicians who want to cut SS, or medicare.
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