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Old 08-25-2007, 09:58 PM
 
Location: Moved to town. Miss 'my' woods and critters.
25,463 posts, read 12,232,178 times
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Quote:
Originally Posted by kansaslady View Post
One thing to remember about s/s, is that even though millions+ of boomers and pre-boomers will begin, or are already collecting s/s, there are a large percentage of 'retirees' who will have to continue working to be able to make ends meet - either part-time, or some even full-time. And those workers will be paying into s/s, even though they are also collecting it at the same time. Therefore, we will not be draining the kitty without putting some back in.

I know for a fact that I will have to work part-time, and may even continue with full-time for several years after my first s/s check arrives in a few years. I'd much more prefer that it be just a few hours a week that I have to work, but I will do what I have to do to make a go of it.
Again kansaslady you have made a good point IMHO. My husband and I are both receiving S/S. He lost his pension through some mix-up through his union's inability to keep accurate records.

Poor planning on our part and faith in a system (union pension) that did not materialize, has required that I maintain a full time job and he, a very limited part time position. We do survive and hopefully will continue to do so on our limited income. At least I can work.
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Old 08-26-2007, 04:08 AM
 
153 posts, read 1,167,279 times
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Northwoods Voyager: Thank you! And you made an excellent point as well.

We have employees where I work who are in their 70's and 80's because they cannot afford to retire, or even work part-time.

I have written to AARP to suggest they publish articles more in line with those of us who are not able to retire full time and spend our golden years golfing, traveling or whatever. They did recently have an article about women moving in together to help share costs, which was very informative.

There are many of us who do not have a house to sell at a huge profit and move into a luxury retirement community.

The retirement communities around the KC Metro area are very beautiful; however, one has to dish out approximately $300k just to move in, and then the monthly cost is around $2-3K!!! Way out of my price range.

Most of the ads I see are focused on the more financially affuent retirees and I have to wonder if they are really the majority, or are they the minority?

I am doing the best I can to be responsible for myself. I could waste time by kicking myself around because I did not start saving money 40 yrs ago, but what would be the senses of that? I can only go forward and do the best I can now.
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Old 08-26-2007, 09:29 AM
 
4,610 posts, read 10,208,728 times
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I think the Baby Boomer's are going to set the rest of us up for people going to retire in 20 years or sooner. I mean these baby boomer's have money. Know pretty much want they want. They are active and creative.

So I think they will pave the way for future retirees in a good way.
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Old 08-26-2007, 10:44 AM
 
439 posts, read 602,144 times
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Default Excellent post, Furyu!

Quote:
Originally Posted by furyu View Post
Sounds like sunsprit's a fan of the 'trickle down' theory that has worked ... OH so well for the poor and middle class in the U.S. Sounds like sunsprit has swallowed an awful lot of the propaganda that's spewed by the right-wingies.

Here are some facts:

The combined wealth of the 400 richest Americans is a record-breaking $1.25 trillion. That's about the same amount of combined wealth held by the 57 million households who make up half the U.S. population.

The economy is booming for billionaires. It's a bust for many other Americans.

A record 400 Americans are billionaires -- and a record 47 million Americans have no health insurance.

America has 400 billionaires -- and 37 million people below the official poverty line.

The official poverty line for one person was just $9,973 in 2005 (latest data). That wouldn't cover the custom-made men's shoes ($4,128) and Hermes purse ($6,250) on the Forbes Cost of Living Extremely Well Index. The official poverty line of $15,577 for a three-person family is lower than the cost of the Patek Philippe men's gold watch ($17,600).

The Forbes 400 minimum is up $100 million since 2005, but the federal minimum wage has been stuck at $5.15 an hour -- just $10,712 a year -- since 1997. GOP leaders in Congress have been holding a raise for minimum wage workers hostage to more giant tax cuts for wealthy inheritors.

Wealth isn't trickling down. It's flooding up -- from workers to bosses, small investors to big, poorer to richer.


[This is from Common Dreams.Org / http://www.commondreams.org/views06/0928-31.htm]

What is that? Oh, you're response is, "TOUGH LUCK! The poor oil companies are below the normal rate of return...."? Well, sunsprit, I'm not sure how you came to that conclusion. Let's take Exxon, as an example: "The nation's largest oil company reported net income in the fourth quarter of $10.7 billion, or $1.71 a share, compared to $8.4 billion, or $1.30 a share, a year earlier." [http://money.cnn.com/2006/01/30/news/companies/exxon_earns/] (broken link)

We're talking NET income, pure (uh-hum) profit here folks! Some of that gets back into the economy, of course, but not in the way you're talking about. That sort of turn around of profits does not happen anymore. Some people have been fed that kind of propaganda since their toddler days, but fail to investigate what's going on here & now with this country and the world.

Want another example of corrupt big business that harms this country? Let's talk about Halliburton! They received something like $20-Billion in war contracts thanks, in large part, to their affiliation (politely stated) with our illustrious V.P. "Dick" Cheney, much of which is unaccounted for and some of which they state they'll repay for various abuses. They are finally under investigation by the NOW Democratic Congress (the Republican Congress refused to investigate them despite obvious egregious problems and complaints) and so what do they do? They are fleeing to Dubai! Huh! Isn't that interesting? Corporate responsibility and patriotism at its very finest, wouldn't you say? (You know, I'd forgive them everything, and wish them farewell, if only they'd take Vice Dick with them! )

Whatever. Your arguments, sunsprit, are myoptic, even laughable. I'd argue the points some more.

As for me, I retired early (I'm in my mid 50s and have been retired for 14 years), have a beautiful home along the coast, three nice cars and everything I could possibly need. I'm covet nothing from anyone, thus my arguments for economic equity are not mired in greed and/or envy as you imply. I worked during a time when some of your arguments were true: Get a good education (an affordable education at a decent college), work hard, be innovative and ambitious, and you'll succeed. That is NOT the case anymore. The cards are stacked so high against so many, there is no way that system works for the average Joe/Jane Public any more. All lower income kids and many middle-class kids can't afford to attend college any more! If kids don't get educated they can't compete in the world. If things continue the way they are now, soon it'll only be the wealthy who are able to afford an education, get decent jobs, afford to run for political offices and have influence on society. The rest, 'We, The People,' will be relegated to a worker-bee status from birth until death.

It's all very much the truth of what is going on today, and it should be quite obvious to just about anybody who has at least one eye open and who's not afraid of using their ability to reason.
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Old 10-04-2007, 11:22 AM
 
Location: Alaska and Texas
202 posts, read 747,207 times
Reputation: 138
Default lower standard of living

Many economists and investors from Greenspan to Warren Buffet warn that the significant and growing disparity between rich and poor will lead to tremendous problems for our society.

The wealthy and powerful have usurped the power of the people by buying influence through our horrendously expensive campaign process. The corporate agenda of exporting jobs and importing illegal workers to suppress labor costs will certainly lower our standard of living. Additionally our debt, both individually and nationally, will come home to roost. Corporate moguls no longer have allegiance to America because as we are so often reminded, we are in a global economy.

Many retirees will choose to move to nicer climates and lower cost of living areas, but also to be closer to their kids and grandkids. They will want opportunities to work, volunteer and engage socially.

But many seniors face desperate futures because they weren't willing or able to set aside enough for old age.

As a vocational counselor for the past 9 years, I worked with people young and old who were worried about retirement and searching for quick fixes to play "catch up" on funding their nest egg. Unfortunately, I had no answers for any of these folks as the high paying jobs they sought required high levels of education and experience, some sort of expertise or you had to "know somebody".

Today's retirees may be the last to have a comfortable future. I feel sorry for the kids and grandkids....but I hope I'm wrong.
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Old 10-04-2007, 12:25 PM
 
Location: Home is where the heart is
15,400 posts, read 25,836,225 times
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The baby boomers will be a strain on the medical system. Other than that, I don't think they will be much of a strain, because the boomer population is not really that big (Gen X and the current crop of high school kids are much bigger). On top of that a large percentage of baby boomers will never really retire.

Some of the changes that I predict resulting from boomer retirees:

1. A number of medical advances in gerontology. Skin cancer will be solved.
2. Dramatic end to pensions and most retirement plans.
3. The next generation will learn from our mistakes. People will spend much more time preparing for retirement from their early 20's on.
4. Resurgence of small towns, particularly in mild climates. Retirement will be the #1 industry for some states. Retirement villages will be everywhere, and these will be surrounded by thriving small towns catering to the needs of the retirees. Because, let's face it--boomer retirees will want to "leave civilization" and a few years later they will long for Starbucks, Trader Joes, Nordstroms, computer supplies, gym equipment, high end electronics gear, and various things they can't find at the local WalMart.

If you are too young to retire, but want to live in a small town I would recommend opening a computer services center near a place like Hot Springs Village. You could have a very comfortable living from that.
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Old 10-04-2007, 05:25 PM
 
414 posts, read 1,470,165 times
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What seems to have been left out of the discussion is the fact that since many boomers are pretty healthy at age 65, they'd like to continue working. Age discrimination is alive out there in the work place. My husband was more or less involuntarily retired from a major US bank (currently fighting for its life at the moment, haha) within a week of turning 65. He is highly educated, qualified and competent but when he sent resumes out, he received nary a nibble. He's been home for a year now. We have sufficient income but are receiving SS. We'd have been happy to put that off, continue working and continue contributing to the SS fund. Alas.

The government may have to offer some incentives for employers to hire older workers because they don't show any signs of doing it on their own. It would be better for the companies to have experienced workers, better for the workers who don't want to sit around playing bridge and better for the country.
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Old 10-06-2007, 02:51 PM
 
29,801 posts, read 34,894,042 times
Reputation: 11720
I don't mean to sound cruel but reading about the haves and have nots and the rich oil companies makes me wonder. What would have happened if a person 30 years ago began setting aside money previously used for entertainment, smoking a beer or two, movies, etc . And invested it each year in a energy/oil base mutual fund where would they be today? Lets see a $1,000 dollar investment each year today at say 40-50% return (tax free) on those wretched oil funds would be how much in 30 Years? Lets all use our power of persuasion to help the have nots invest so they can in the future become haves.
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Old 10-06-2007, 03:06 PM
 
Location: southern california
55,677 posts, read 74,671,253 times
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Quote:
Originally Posted by Waterlily View Post
It's just starting to happen. Baby Boomers will be retiring by the millions within the next few years.

I am wondering if some cities or states will be minus a lot of population in the near future. Will there be lots of retired people moving south?

There is the work place issue as well. With millions retiring will we have enough workers?

What is your vision of the USA in about 10 or 15 years?
giant sucking sound. the puritan work ethic is gone ethics are gone too.
already happening. 20%+ of seniors got a grandchild in the home (senior journal.com) (aarp)
the generational baton is being dropped big time.

stephen s
san diego ca
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Old 10-06-2007, 05:05 PM
 
Location: Home is where the heart is
15,400 posts, read 25,836,225 times
Reputation: 18992
"What would have happened if a person 30 years ago began setting aside money previously used for entertainment, smoking a beer or two, movies, etc . And invested it each year in a energy/oil base mutual fund where would they be today? Lets see a $1,000 dollar investment each year today at say 40-50% return (tax free) on those wretched oil funds would be how much in 30 Years? Lets all use our power of persuasion to help the have nots invest so they can in the future become haves."

LOL, I actually have an answer! At the age of 22 I left a 4-year marriage and that same year I stopped smoking, drinking beer, and eating out at restaurants. Suddenly single and poor, I cut out a lot of expensive habits and learned to shop at places like K-Mart and Costco. It was a temporary lifestyle change, but most of those changes became a lifelong habit (I still drink a glass of wine from time to time, but my drinking habits are not nearly as expensive as they were in my 20's).

Now, almost 30 years later, I've managed to accrue almost 2 million dollars. I have a very comfortable life. It wasn't all from saving nickles and dimes. A few other fortunate investments happened along the way--but I couldn't have taken advantage of them if I didn't have my savings in the first place.

What's funny is that I didn't set out to save all this money. My initial point was simply to have a lifestyle change. In my 20's and 30's I thought I would want to work forever--I thought retirement was for people who were "waiting to die." Funny how some things change...
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