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The oldest baby boomers often ended up retiring young. The average age of retirement among those already retired is 59.5, MetLife found. Many of the oldest baby boomers (18 percent) retired at age 62, the earliest possible age at which one can begin collecting Social Security benefits. Another 19 percent retired at age 65, when Medicare eligibility begins. Far smaller proportions of boomers retired at ages 63 (9 percent) and 64 (5 percent). And 22 percent of 1946-born boomers retired at age 55 or younger, far before they qualified for any entitlements or could even make retirement account withdrawals without incurring the early withdrawal penalty.
Let's see how the 2008 recession affects those numbers for the younger Boomers.
Half this generation is on food stamps and you are calling baby boomers unproductive. Baby boomers have been productive financially contributing members of society more than the controlling members of society now could ever dream about being. Baby boomers are NOT the problem. They took good care of their parents.
Sorry, I misread your post. I think we agree. I like what I just said, so I am leaving it.
"Both Howe and Strauss are Boomers, but their work marks a sea-change in perception among intellectuals. The 13ers...may just prove an American salvation."--The Daily Telegraph (London)
"[A] valuable primer...a distressing portrait of a generation that has been systematically screwed by their elders...an honest, empathetic, and good-humoured effort to bridge the bitter gap between the twentysomethings and fortysomethings."--The Globe and Mail
Boomers around the industrialized world are causing issues as they age ...
Japan is considered one of the leading indicators of such a society. Their population peaked in 2007 and has been declining since then. They already have 50% retired / 50% workforce and younger and an inverted age pyramid. Last time I went to a countryside town there, everyone was over 40, it was spooky. All the local children had to travel by train to the nearby big city for schooling, so I'm told. The local schools closed down and the kindergarten was on the verge of doing so since no one was having kids. NHK recently interviewed a couple who had been separated for 7 years. They were in their 40s, and contemplating divorce due to the fact they had elderly parents to take care of. Retirement homes are rare there, and expensive, due to a lack of workers. Their society is ill prepared for the silver wave that has hit them.
One of the things I keep hearing is that in Japan, fewer children and fewer people is a good thing due to overcrowding, high cost of living, stifling conservative culture, and a philosophical bent towards having fewer people on the planet, in general.
I have to say I agree with that, for Japan. Speaking my own opinion as a Millennial, for the USA, I tend to agree too. There's simply too many people on the planet. The Boomer generation, for better or worse, did many good things in their time but also put too much of a strain on the planet from an environmental and resources and cultural perspective. I don't personally see this changing until we either use technology to explore the solar system and mine it OR become cybernetically enhanced to require less food and use nano machines to restore cells energy. Such technology is being worked on by DARPA and other places already. There will likely be cultural upheaval as capitalist society is forced to evolve to deal with a declining population.
For me, I'm planning on two kids. Enough to replace, but not grow, the population.
I'm not sure we can talk about the "Boomer Generation" in general terms except for the USA.
The original "Boomer Generation" referred to the great peak of baby births in the USA right after WWII. That did not occur in the rest of the industrial world because they were devastated by the war. In the 50s, we were sending CARE packages to the "starving children of Europe.'
There was also a smaller post Korean War peak that was long called the "Korean War Boomlet." It's been in relatively recent years that then entire period of 1946-1964 has been called overall the Boomer Generation. I think that's largely because of a dramatic drop in births because of the advent of the birth control pill in 1960.
My point here is that what was happening in the US during those years is dramatically different from what was happening in Europe and Japan during those same years.
And you understand it even less. Your premise is absurd, unsupported and contrary to the Laws of Economics.
Quote:
Originally Posted by NCN
There would be no problem if all those aborted babies were working and paying taxes and helping to care for the many baby boomers. Now please tell me how that is off-subject?
Uh, gosh, I don't know, why don't you apply the Laws of Economics to see why it is so off-topic?
Being born does not equate to having a job.
Quote:
Originally Posted by Kalisiin
This is where the money is going to be.
Maybe.
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Originally Posted by Kalisiin
Read the book, The 13th Generation
It's been discredited, so why would I waste my time?
Quote:
Originally Posted by Kalisiin
"[A] valuable primer...a distressing portrait of a generation that has been systematically screwed by their elders...an honest, empathetic, and good-humoured effort to bridge the bitter gap between the twentysomethings and fortysomethings."--The Globe and Mail
We KNOW we were screwed by our elders, and THIS is why we disparage the Boomers. You all SYSTEMATICALLY SCREWED US. Read the book.
No one has been systematically screwed.
Quote:
Originally Posted by Kalisiin
It's no coincidence that - once you Baby Boomers got into power in government and industry...that everything started going to shyt for the average worker.
Are you suggesting that the United States exists in a vacuum?
I sure hope not, because that would be really stupid.
Quote:
Originally Posted by Kalisiin
Look on the chart under Gen X. and you will see..."First Generation that will not do as well as their parents did."
THAT is why we are bitter towards you Boomers.
And which one of the Laws of Economics says that children must do better than their parents?
Take your time....you have the rest of your life to figure it out.
Quote:
Originally Posted by Kalisiin
Because WE won't do at least as well as YOU did....AND IT'S YOUR FAULT.
No, it's your fault. You are responsible for your own life.
Quote:
Originally Posted by Kalisiin
YOURS is the generation that gave us Reagan, and trickle-down economics.
The so-called "Reagan Democrats" who put Reagan into power...were by and large....BOOMERS.
We haven't forgotten what you all did to us, by voting in Reagan and his trickle down policies.
Reagan?
Are you serious?
Quote:
Originally Posted by Kalisiin
No, we don't resent your existence.
What we resent is that you grabbed all the goodies in your life, and left us jack shyt.
You rode the greatest economy ever and you COASTED thru life. You didn't have the worries, the uncertainty...that we have to face.
No one is obligated to leave anyone anything.
Of course, you could have done it better, right?
If you can't deal with this, I doubt you would have survived under Carter.
Quote:
Originally Posted by Kalisiin
You all rigged the game so as to reap all the goodies, and then implode the whole damn thing behind you...and left US to clean up your damned mess.
YOU will GET your Social Security. WE probably won't.
WE will just pay into it all our lives, only to get SHAFTED on the other end.
SUB Rant (No Argument, No Common Sense, No Evidence)
DIM Moron as CONSTANT Soreloserman
SELECT CASE Rant ()
IF Rant THEN
DO
WHILE Moron = TRUE
LOOP
END IF
END SELECT
Rant = Moron
END SUB
Quote:
Originally Posted by Kalisiin
Bullshyt.
Sorry, but I am in the healthcare business. Specifically, I am a Practice Management Specialist - which means....
You'll ruin the business and end up bankrupt.
Other than frothing at the mouth until you fall over backwards in your own feces, do you have anything to add to this discussion?
Not amused....
The oldest baby boomers often ended up retiring young. The average age of retirement among those already retired is 59.5, MetLife found. Many of the oldest baby boomers (18 percent) retired at age 62, the earliest possible age at which one can begin collecting Social Security benefits. Another 19 percent retired at age 65, when Medicare eligibility begins. Far smaller proportions of boomers retired at ages 63 (9 percent) and 64 (5 percent). And 22 percent of 1946-born boomers retired at age 55 or younger, far before they qualified for any entitlements or could even make retirement account withdrawals without incurring the early withdrawal penalty.
Let's see how the 2008 recession affects those numbers for the younger Boomers.
Not sure if I have the right person but I believe you and MathJak had a disagreement about equity investing in the years running up to and in retirement. At any rate I am in the MathJak camp and find equity investing to be situational dependent more than age age dependent decision. Full disclosure I retired January 1 2008 and am now farther along and in better shape then I expected to be at the time. This was before the meltdown. I stayed the course in equity and made out quite well and was able to buy a second home at the beach for at market bottom. I have continued investing and have reaped handsome returns as a result. Both equities and bonds did well until this year when bonds had a burp. My portfolios were all tilted to equities. Many Americans find themselves able to max out their retirement accounts and to save more in their fifties (assuming they had jobs which most did). I have often wished I was five-eight years younger and was pouring money at an even greater rate into the market then I am now. Can you imagine the 55 year old who was maxing out their 401K and other accounts in the time period of 2008-2013? This is one of the greatest investment booms in history and many Boomers with paid off mortgages and greater discretionary income if they wanted to really solidified their retirements. That is IF the could and wanted to. So with everything it is situational and Boomers are in different situations some great and some not as great. Great last week in the markets and one heck of a year for those who were in. Bonds not so but hopefully folks had asset allocation plans that worked well for them. I understand your sentiment and hopefully you understand mine. May we each have success with the plans we follow.
"Both Howe and Strauss are Boomers, but their work marks a sea-change in perception among intellectuals. The 13ers...may just prove an American salvation."--The Daily Telegraph (London)
"[A] valuable primer...a distressing portrait of a generation that has been systematically screwed by their elders...an honest, empathetic, and good-humoured effort to bridge the bitter gap between the twentysomethings and fortysomethings."--The Globe and Mail
Have you had these discussions with your parents? I mean it seems as if you might harbor or have some issues with their parenting that might be best discussed. I am always wondering about folks who come into forums and talk down their children's generation or their parents/grandparents generation. Even if unintentional it leaves the impression there were family issues best kept in private.
And why would you not consider the fact that everyone was being bombarded by government propaganda?
It's often hard to see the truth when you are constantly told lies.
You have a paradigm shift in the late 1890s, from Central/South America to Southeast Asia. That includes everything from your obsession with the Philippines to the colonization of China, to constant conflicts with Japan even before WW II.
That paradigm shifts again in the late 1960s.
Your "Neo-Cons" -- who at the time were called Social Democrats and then as now control your State Department, most of your Alphabet Agencies and run the White House -- created an exit strategy for Vietnam, closed nearly all military bases in Southeast Asia, reduced troop levels in Korea, sent a dove with an olive branch to China, and then got the US off of the Gold Standard and onto the Petro-Dollar with a new focus on the Middle East.
And that's where you've been ever since.
The fact that the US was forced to abandon the Gold Standard is telling indeed, but how they sold it to you was nothing but fun-filled propaganda.
So how are people supposed to know that the 1970s is a Turning Point?
I'm not going to argue with that, except that what you're calling "Social Democrats" were what we call "Republicans."
One thing that disguised the economic crisis in the 70s was the huge number of women entering the workforce and creating two-income families. In fact, if you compare the number of hours of work it took in the 70s to purchase the same commodities as the time it took in the 60s, you can see the dramatic collapse of earning power.
You mentioned Nixon decoupling the worth of the dollar from gold and allowing it to float against world currencies--yes, that is a sign of the extent of the crisis.
As well, there were more measures such as Nixon's executive order mandating a nationwide wage and price freeze (imagine Obama trying that today).
Then there was the Arab Oil Embargo. I guess the oil embargo is the poster child example of "close your eyes and it'll all get better." Thinking back on it, it's almost incredible that the country did not follow through on Carter's declaration of making energy independence "the moral equivalent of war." But that idea got dropped with the Reagan administration, which convinced the country that worries about Middle East oil dependence was like worrying about global climate change.
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