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Old 08-10-2009, 12:57 AM
 
Location: Conejo Valley, CA
12,470 posts, read 18,235,445 times
Reputation: 4343

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Quote:
Originally Posted by North Beach Person View Post
My, my, my such anger at the people who fed, educated, clothed, housed and kept you safe (meaning no draft) while giving you an unrivaled standard of living with more stuff than you'll ever need or probably use.
Such anger? huh? Most of the things I mentioned are are just established facts. The Boomers did not save enough for retirement and to make matters worse they made particularly rosy projections on the equity markets and real estate markets that did not prove to be accurate. They also seem to have an odd idea about just what retirement is..

Personally though my parents were extremely cheap they did not provide me with an unrivaled standard of living. But I was raised around a lot of older people (now in their 80's), I respect them....not so much the boomers (speaking generally of course).


Quote:
Originally Posted by North Beach Person View Post
If you'll do some math you should realize that the vast majority of us "greedy" boomers aren't even close to retirement age. It's a vanity of your generation that thinks retirement will happen at forty. Newsflash sport-it won't.
I never suggested that the boomers are all going to retire next year, rather they are just starting to reach retirement age as a result its time to seriously start to think what impact their retirement (or lack there of) is going to have on the economy. That is the point of the post.

I also never suggested that retirement is at 40.

Quote:
Originally Posted by North Beach Person View Post
Just a note so you don't think you've had an epiphany-my generation complained about the WWII generation not retiring and keeping unemployment high.
The GI generation did not have the same set of issues as the Boomer generation. I'm sure the Boomers complained about them, they complained about the GI generation endlessly on about just about everything.

Quote:
Originally Posted by North Beach Person View Post
Your work is very important to my retired life-style, FICA you know.
This is another thing that I think the boomers are completely unprepared for. Over the years they have created an economy that benefits them at the expense of those below them, it was only natural as they were such a large cohort. But they are now starting to lose critical mass politically and in a decade or so will no longer be calling the shots. Generation X will likely do anything to stab a knife in the Boomers back, the wild card is Generation Y (and Z to some degree). They may go along with "the system", or they may rebel only time will tell. So far they seem rather seduced by gen X culture.


Personally I'm glad I ignored just about everything my boomer parents, their friends etc told me while growing up. I'm lucky enough to have grown up around a lot of older folks.
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Old 08-10-2009, 01:00 AM
 
Location: Conejo Valley, CA
12,470 posts, read 18,235,445 times
Reputation: 4343
Quote:
Originally Posted by Philip T View Post
That all sounds very S U B J E C T I V E.

Any objective measurements on this?
Most of this stuff can be measured, but I'm interested in thinking about "what it means". Of course this is highly speculative.....as a result I'd never suggest my positions on the matter are some how facts about the world.
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Old 08-10-2009, 08:49 AM
 
Location: Forests of Maine
32,546 posts, read 52,997,396 times
Reputation: 22387
I am a retired baby-boomer.

Quote:
Originally Posted by user_id
The baby boomers as a whole seem to refuse to retire, or at least anytime soon. I wonder whether what effect this will have on the unemployment rate. From my experience with boomers, there seems to be a few reasons why they are avoiding retirement.

1.) Retiring means you're "old" and boomers want to believe they are forever young.
When I got my pension and retired at 42 my mother had a fit. I am the youngest of her children, and I am the first to retire.

She insisted that retirement is for old people, and that I was too young.



Quote:
... 2.) Many have not saved enough for retirement and the crappy equity markets over the last decade (if you bought and hold over the last 10 years you would have not gained much) have made their projections rather inaccurate. As a result they must continue to work.
In many cases, I agree.



Quote:
... 3.) Many seem to think that their lifestyle during retirement was going to be the same as when they were 50 something, on two incomes and had all the kids out of the house.
4.) Many kept moving up in the housing market as a result they still owe a significant mortgage on their home. The collapse in the real estate market in many cases seems to have eaten awhile a good deal of their equity. They can longer sell their McMansion and purchase a smaller home cash. Many don't seem interested in purchasing a small home in the first place...(i.e, don't want to reduce their standard of living).
'We' are a wealthy society.

'We' like having money, having luxuries, having big houses, and all the little trinkets.



Quote:
... Anyhow, so if they continue to avoid retirement will it cause an elevated unemployment rate for some time? Will it make it more difficult for the younger generations to get employed?
I do not think that the employment pool is a finite resource.

It does expand and/or contract to fit the need.
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Old 08-10-2009, 10:01 AM
 
Location: Floyd Co, VA
3,513 posts, read 5,665,047 times
Reputation: 7597
The definition of the post WWII baby boom varies but at its broadest it is considered those born between 1946 and 1964. That means that the oldest of the boomers is 63 and the youngest are only 45. Social Security considers 65 to be full retirement age, 62 early retirement. So saying that most of the boomers refuse to retire is rather harsh since none of them has yet reached what is considered "standard" retirement age for ss and many pensions. While some are fortunate enough to be able to take early retirement by age 55 that is not true for the majority of boomers. I believe that the life expectancy of boomers alive today is about 80. To retire at 55 or 60 would mean having enough income to live on for 20 or 25 years, which is not easily achieved even for the frugal.

You might also want to ask of the generation that produced the boom - why did so many of you choose to continue to have children after the second one? I'm an early boomer, 1949, and in the suburban neighborhood of my youth 4 to 6 kids was common. I hated being in overcrowded classrooms, in "temporary" buildings that followed us from elementary school through high school and still were not enough. My HS was designed to accomodate 2500 students in grades 10 - 12 but we had over 4000, seniors attended the early shift from about 7 until 1, sophomores and juniors started at about 11 and were there until 5 pm. Competition for a space at the college of choice was high because the universities were not equiped to handle the huge number of students who would be first generation to go to college.

Hang in there my friend there will be a dearth of employees before you finish your working years even if many continue to work into their golden years. That's just a statistical reality.
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Old 08-10-2009, 10:51 AM
 
Location: Tennessee
35,971 posts, read 36,039,112 times
Reputation: 55627
Quote:
Originally Posted by user_id View Post
Anyhow, so if they continue to avoid retirement will it cause an elevated unemployment rate for some time? Will it make it more difficult for the younger generations to get employed?
No, I pretty much think it's your lack of experience and work ethic that keeps older employees working while you (not you, personally) pound the pavement.
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Old 08-10-2009, 11:00 AM
 
22,769 posts, read 27,845,610 times
Reputation: 14617
Quote:
Originally Posted by LauraC View Post
No, I pretty much think it's your lack of experience and work ethic that keeps older employees working while you (not you, personally) pound the pavement.
What is the basis for your accusation, "lack of work ethic" ?
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Old 08-10-2009, 11:13 AM
 
14,256 posts, read 16,261,136 times
Reputation: 13759
Well ... I'm a Boomer who will be retiring in 322 days

But seriously ... the OP hits some interesting points. The re has been a lot of generational research performed and it makes interesting reading. There are, of course, the basic economics of retirement and a lot of Baby Boomers cannot yet afford to retire ... if they ever can. But there is a difference in the nature of the work ethic compared to Gen Xers of Millenials and there is the importance of work in the self-esteem and social life of the Baby Boomer. Both of these are factors which work against early reirement.
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Old 08-10-2009, 11:14 AM
 
14,256 posts, read 16,261,136 times
Reputation: 13759
Quote:
Originally Posted by rubber_factory View Post
What is the basis for your accusation, "lack of work ethic" ?
It isn't a lack of work ethic. There is a difference in the nature of the work ethic. Presence in the work place for long hours is a facet of the Baby Boomer make up. Gen Xers and Millenials work just as hard but they do it differently. Read up on some of the research. It is very interesting.
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Old 08-10-2009, 11:26 AM
 
Location: Over the Rainbow...
5,963 posts, read 11,227,183 times
Reputation: 3151
[quote=user_id;10193643]The baby boomers as a whole seem to refuse to retire, or at least anytime soon. I wonder whether what effect this will have on the unemployment rate. From my experience with boomers, there seems to be a few reasons why they are avoiding retirement.

1.) Retiring means you're "old" and boomers want to believe they are forever young.
2.) Many have not saved enough for retirement and the crappy equity markets over the last decade (if you bought and hold over the last 10 years you would have not gained much) have made their projections rather inaccurate. As a result they must continue to work.
3.) Many seem to think that their lifestyle during retirement was going to be the same as when they were 50 something, on two incomes and had all the kids out of the house.
4.) Many kept moving up in the housing market as a result they still owe a significant mortgage on their home. The collapse in the real estate market in many cases seems to have eaten awhile a good deal of their equity. They can longer sell their McMansion and purchase a smaller home cash. Many don't seem interested in purchasing a small home in the first place...(i.e, don't want to reduce their standard of living).

Anyhow, so if they continue to avoid retirement will it cause an elevated unemployment rate for some time? Will it make it more difficult for the younger generations to get employed?[/Q





People are working longer and longer, not by choice, but by need. Did it occur to you that boomers (not all of retirement age) have no choice but to keep working? You have some really strange and incorrect perceptions of boomers.

As for your "Will it make it more difficult for the younger generations to get employed?[/" Yes it will but only for those who don't know what work ethics are and have no idea of how to dress and act in the workplace. Would you say those are accurate perceptions of the younger generation?

Last edited by Alaskapat528; 08-10-2009 at 11:27 AM.. Reason: add
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Old 08-10-2009, 11:27 AM
 
Location: Over the Rainbow...
5,963 posts, read 11,227,183 times
Reputation: 3151
Quote:
Originally Posted by LauraC View Post
No, I pretty much think it's your lack of experience and work ethic that keeps older employees working while you (not you, personally) pound the pavement.
Exactly!
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