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really, is there anything your generation is capable of besides limiting the opportunities of the younger generation?
Yes, there is. We are capable of voting. If your generation would do the same you would already be making the decisions instead of whining about ours.
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Some 61 percent of citizens age 65 and older voted in the November 2010 election, the best turnout of any age group. More than half (54 percent) of those ages 55 to 64 also cast a ballot. People under age 45 are much less likely to vote. Just 37 percent of 25- to 44-year-olds made it to the polls in November 2010. And not even a quarter (21 percent) of the youngest citizens—ages 18 to 24—entered a voting booth in 2010.
First, the highest rates of senior employment seem to be in expensive areas along the coast. It's easy to pawn this off as a symptom of the cost of living, but these areas also contain many "knowledge" jobs where the seniors in those fields may not even want or need to retire. The article even stated that the seniors were more likely to be in sophisticated occupations. I had several professors in college who were still academically active well into their 70s, and one guy in his 80s.
Second, the raw numbers are eye-popping simply because CA is the most populous state, but we have no idea how this proportionally compares to other states.
Technically, the Boomers screwed over the Millennials by having such a low birth rate. The reason we are facing this Social Security and Medicare funding problem is because we're converging on 2 workers for every retiree. Most other first world countries have it far worse than the United States.
I've written any number of times that from where I sit, the economic outcome of the Millennials looks like it will be roughly the same as the late-Boomers. The problem is that we're flooded with the internet presence of very average Millennials who think they're entitled to 5%er income and wealth accumulation. Didn't do your K-12 school work diligently? Didn't get admitted to a good college? Didn't take a "hard" major where employers want to hire you? Didn't spend your early work years becoming the go-to employee who took responsibility for all the hard problems? Don't save 20% of your gross income to create wealth? Then why are you entitled to the pay check and wealth that only 5% to 10% of the late-Boomers have?
When I as in college we already had problem with Social Security so I disagree.
warren buffet is also disappointed the current state of the economy.
he believes America will always do well compared to the rest of the world...well the rest of the world is doing pretty terribly too. what he is saying is that America is a 4/10 on the economic scale while the rest of the world is at a 2/10)
Trump will burn ties with China, mexico, other trading partners. When you finally die, we'll have to remake the ties.
thanks for contributing to the downfall of America. Thanks for being so materialistic that you couldn't save for retirement and are now preventing the next generation from entry into the job market because you are still working.
Thanks for the great recession (the housing crash was due to materialism. you don't deserve a house you can't afford. It's not predatory lending. your generation is just materialistic).
Also, thanks for destroying social security.
really, is there anything your generation is capable of besides limiting the opportunities of the younger generation?
You sound like a blamer. Maybe you should blame Millennials too. These generation wars bore me to death.
Yes, there is. We are capable of voting. If your generation would do the same you would already be making the decisions instead of whining about ours.
"voting" to extend social security benefits. And many young voters did go out and vote for Bernie Sanders; however, the delegate system keeps things rigged.
We are capable of listening to whiny diatribes from entitled Millennials and try not to laugh too hard.
If you aren't economically successful, it's because of your own failings, not mine. Most of the late-Boomers weren't economically successful, either.
So true.
Boomer were also affected by lay-offs, businesses going overseas, and housing bubbles, etc ,just like everyone else. Plus we also support our parents, our adult children, and sometimes even grandchildren when our children can't.
We are capable of listening to whiny diatribes from entitled Millennials and try not to laugh too hard.
If you aren't economically successful, it's because of your own failings, not mine. Most of the late-Boomers weren't economically successful, either.
In earlier times the middle class wasn't shrinking, a college degree from any state school landed you a stable job, and the economy the booming. their failure wasn't a symptom the state of affairs.
I went to a cheap "flagship" state college, majored in something "in demand", and would be struggling if my parents didn't pay for college. I'm making 70k/year btw.
You didn't have to worry about retirement when you were 22. Even if I save the max for my retirement (both 401k and roth ira like I've been doing), I'll have the spending power of today's 1 million for my retirement. aka nothing.
In theory, if your economy is not growing fast enough, meaning at least 5% GDP growth, then older workers bar younger workers from entering the work-force. The net result is that younger workers have a lower Earnings Curve. That means younger workers will not earn as much throughout their life-time as their parents did.
That affects certain social welfare programs like Social Security and Medicare.
Quote:
Originally Posted by Robert137
We're now allowed to collect Social Security benefits at "full retirement age"--currently age 66--with no reduction for wage earnings--I believe the cutoff was age 70 earlier.
It was always 65, and was never 70. The full retirement age is slowly being increased to Age 67 by 2022.
"voting" to extend social security benefits. And many young voters did go out and vote for Bernie Sanders; however, the delegate system keeps things rigged.
A Sanders nomination was within reach. That's one of the most damning pieces of evidence when it comes to what you could have accomplished if you would show up in better numbers. I voted for Sanders. I have seen the stratified data on the vote and know who is to blame for him coming up short.
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