Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
lol. you do know that the majority of seed money you just described will end up eating up most of your profits? The bank folks make money-not you.
That may be true at first, but once you pay them off, you own the business. People that loan "seed money" are not looking to be partners. They want in and out quickly.
Just to add more substance to this thread, you can see in the link below that over 65 year olds are the only age group to increase their labor force participation rate since the great recession began.
I do wish they would leave the work force. I haven't found my first job in the new field that I became certified in a few months ago. When I go to our local chapter meetings once a month I always see elderly women there who have jobs. I really really wish they would just retire so that someone more intelligent and youthful can take their place in the workforce. Boomers live their lives selfishly though. I expect them to be selfish until they fall in their graves.
Just remember, you, as well as everyone with the same mind-set will be where we are today, and most likely someone will be saying the same thing as you. As someone once told me " what goes around, comes around." Folks such as who you describe here may have a financial need for the money that you don't know about. I'm sure it isn't any sort of selfish agenda here, more of a personal need. We are all subjects to the same economy, and it is harder on some than others. If you can't find the job you want find something to pay the bills till an opening becomes available. As you said in your post, we will eventually " fall in their graves."
Most of the boomers I know (mom and dad, most aunts and uncles, etc.) are still working. But I know younger boomers, my oldest boomer aunt just turned 60 and she is not working but is disabled so receives SSDI. She is the only one in my dad's family not working. Everyone of my mom's siblings, including her work.
But people in my family usually work until they are in their 70s lol. My husband's grandma retired at 78, but quite a few of them, including her, owned their own business and they liked working. My dad is thinking of retiring early though, he is 58. Mom is only 52 so is not thinking about that right now. She already has a pension from her years working in a lower wage factory job for over 10 years before opening her own business, so she will have SS and her pension when she retires. The only one I worry about is dad because he took out all of his meager retirement savings to buy cabs and get into the taxi business. He makes good money but I'm not sure if he ever earned back the money he took out.
But I don't see them retiring as a bad thing. Once they come out of the market my generation and the millenials will be able to support them via working in those vacated positions. I'm a Gen X and actually do have one of those "soft" degrees that were spoken of at the beginning of the thread - English, but I make a really good living and probably have more retirement savings than most. I also invest in real estate and have rental property that gives me additional income that I put into IRA accounts and vacation accounts exclusively and I use all the great writing skills I obtained via my degree daily in my career, which I enjoy but I also hope to retire early and just live off my rental income properties by the time I am 50, I am 34 right now.
And now they are can't afford to retire. Now, our generation aren't afforded the job opportunities since Boomers aren't retiring at a sufficient rate for there to be any jobs for Millennial seekers.
Got any stats on that?
I know there is *some* truth to it but it's a relative claim. Comparing them to the depression generation may not be fair.
I think the far greater issue is that there just aren't the jobs out there anymore....they went overseas.
And now they are can't afford to retire. Now, our generation aren't afforded the job opportunities since Boomers aren't retiring at a sufficient rate for there to be any jobs for Millennial seekers.
You lost your 'key".
I am a boomer and retired.
I live in a county which was one of the fasted growing counties in the country and is FULL of boomer retirees.
I have many friends who are boomers and are retiring every day.
I guess you have some data to back up your claim?
"Let’s look at some of the numbers. Work and Retirement
52 percent of the earliest boomers are fully retired, up from 19 percent in 2007 and 45 percent in 2011.
21 percent are working full-time. They plan to retire on average at age 71.2, up from 66.3 in 2007 and 68.6 in 2011.
30 percent expect to retire later than they had planned. Of this group, 27 percent say they need their salary, while 32 percent report that they enjoy working.
12 percent are retired but working part-time or seasonally.
4 percent are self-employed.
Only 1 percent are looking for work.
Of those who are retired, 66 percent say they like it a lot, and 27 percent are somewhat happy with it.
The average age of retirement was 59.5.
When asked why they left the workforce, nearly four in 10 cited the fact that they just wanted to retire as the primary reason. Another 17 percent reported health issues as the main incentive. Significantly more respondents cited being laid off or unable to find work as the basis for their retirement in 2012 (10 percent) than in 2011 (6 percent).
47 percent said they retired later than expected due to a variety of financial reasons."
And thanks to the lovely economy your generation created, it is rather difficult to find a job today. Your generation is to blame for this. Mine had absolutely nothing to do with it. Read this graph below, and know what type of world your generation left to the ones that follow. Your generation continues to clog our economy and prevent the youth from having opportunity.
I do have applications out, interviews scheduled, and at least one prospective employer I am still waiting to hear back on after a second interview. But even if I get offered every single job I have apps for this moment, I will still be resentful to the old people of America today because the absolute greed driven lives they lived that hampered the hopes and prospects of my own generation.
Golly. I had the same experiences in the 1980s. The only difference is, it never even occurred to me to blame my parents and their entire generation.
Here's what I did in fresh out of college:
I delivered auto parts to mechanics around town full time, and did freelancing for the local newspaper, attending school committee and council meetings for HOURS at night, followed by typing up an article and dropping it off in the middle of the night. For $20 per article.
Oh, and I taught myself photography for the extra $5 per photo that was published.
Gradually I took on more freelance work and less time at the auto parts store.
I got my first full-time, salaried newspaper job when I was 26. Not before. And even then I lived in crappy apartments for years and didn't own my first home until I was 33. And it didn't even have granite countertops. The shame!
Golly. I had the same experiences in the 1980s. The only difference is, it never even occurred to me to blame my parents and their entire generation.
Here's what I did in fresh out of college:
I delivered auto parts to mechanics around town full time, and did freelancing for the local newspaper, attending school committee and council meetings for HOURS at night, followed by typing up an article and dropping it off in the middle of the night. For $20 per article.
Oh, and I taught myself photography for the extra $5 per photo that was published.
Gradually I took on more freelance work and less time at the auto parts store.
I got my first full-time, salaried newspaper job when I was 26. Not before. And even then I lived in crappy apartments for years and didn't own my first home until I was 33. And it didn't even have granite countertops. The shame!
Get over yourself. Grow up. Get on with it.
I subbed during the day and worked nights/weekends at a retail store. Most weeks I worked all seven days and there were days I worked over 15 hours. I was so relieved when I finally got a full time teaching job. Back then, which was during Carter's recession, the only way to get one was to sub first and prove yourself to a principal or the district. It's just the way it works when you enter the job market during a bad economy.
One of the big differences that I will concede to this generation is that we didn't start out with the debt load they have. We have basically made the college diploma the equivalent of the old high school diploma as far as getting a job these days - and it isn't free like high school. Everyone doesn't need to go to college.
I applied for a job at Starbucks earlier this week. I just can't take being home bored all the time. One thing is for certain. I am DONE getting pieces of paper. Too time consuming, too expensive, and too stressful and the damn things never pay off.
And my parents (generation X) both indulge in the greedy irresponsible spending habits that baby boomers do. I have told my mother on countless occasions the stupidity of her actions so she now just won't speak to me about her finances. She knows I won't have kind words to say to her. The older people of this country need to start being more responsible.
I think you meant SOME Boomers. Just like some Millenniels and Gen Xers suck at money management. And some Silent Generation folks too.
Stop painting everyone in a generation with the same brush. I'm a Boomer (or at least I think I am, although some claim those of us born at the tail end of the Boomers (1960-1964) are really Generation Jones) and I am not fiscally irresponsible in the least. Unless you consider it to be so to pay your bills, live within your means, save for retirement, pay for your kids college expenses in full and have no debt.
And sorry, I'm not retiring any time soon. I'm only 53 and to do so before I can get full Social Security would be fiscally irresponsible.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
