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No the problem is that I can see. You just don't like what I see. I see your a democrat so that explains a lot. I am not fortunate. I just planned.
Obviously, as if he had he would have purchased a medicare supplemental plan. I am not hearing a lot of that on this thread. All the better for the scary medical bill stories. The VNA is also an option for nursing care.
AARP offers good plans. When medicare wouldn't pay for something my mother's plan paid for it.
I remember when my mom went on Medicare she was warned by medicare that it only covers 85% of most expenses which is why she got it. She lived off her social security only so somehow she managed to afford it. She also had yearly hospitalization so... and her final one was months and I never paid a dime.
My dad has always had a Medicare supplement plan but he is in Assisted Living. Assisted Living facilities do not get paid by health insurance. He is too disabled to have visiting nurses, he needs around the clock care. When that happens you pay with cash and a few years in one of those facilities eats up quite a bit of money. Once it's gone you are looking at nursing homes that accept Medicaid - not exactly the cream of the crop in care.
so why aren't younger people putting more into saving for retirement? so they don't have to work until they die?
what money they save does the work of providing an income later for them
I think more people suffer from the Peter Pan syndrome than in previous generations, where they think they are perpetually young and can saddle themselves with the trappings and responsibilities of putting a roof over their head later. We've all met people like that. They wake up one day at the age of fifty and realize that they are the grasshoppers who danced and sang all day while the ants toiled. They are the people who ask if they can store their stuff at your house because they have to finally move their stuff out of their parent's house.
Nope, I mean that age discrimination is alive and well in this country.
And should you find yourself unemployed for whatever reason and are over age 50-55 or so it can be very, very difficult to find another comparable position.
I have read that if you are in that category and have been unemployed for more than 6 months (or was it a year? no, 6 months I think), it doesn't matter what your former job title was, what your level of experience is, what your educational background is or where you live your chances of finding a new equivalent position is less than 10%.
Maybe older age people need to look at job hopping more often as they get older - apply for new positions every two years to keep it fresh and before they are side-lined. I wonder if that makes a difference.
There was a woman in our department a couple of years ago and she was let go under what I would call agism, but in reality she had neglected to keep updated with new software tools needed for her job. She had become very comfortable in her job, and neglected to remain competitive.
You do realize that if someone gave you $70k in one calendar year there is a gift tax. Money can't even be given without the government wanting a piece.
I believe that a one-year gift greater than (?) $14,000 must be reported but there is no tax involved as long as you are below the lifetime gifting threshold which is well over $70k.
p.s. and there is never any tax on a gift recipient; if there is any gift tax it is on the donor.
How long have you known this guy? How do you know he didn't do the best he could. Not everyone was born into privilege and not everyone is overpaid. And if everyone " got more education" then MORE would be skilled and suddenly your overpaid job doesn't overpay you anymore. Try actually earning your pay before spouting platitudes!
Majority of Americans are living paycheck to paycheck and that is by design
Every job being done right now by someone needs to be done and is not being done for make busy work.
If there are 100 million jobs filled and they were ranked by pay, someone has to do each one of those jobs so if everyone had more skills and moved up in rank, who is going to do the jobs below them?
Having everyone move up in rank would just decrease the wages higher up since there are more people at higher ranks (supply and demand)
The system is run with this in mind where the majority of the people no matter how many skills they have, will be paid what they are being paid now and the top ranks will reap the benefits from this.
A person at the low ranks today has more technical skills than a simple factory worker was in 1980 and is paid less than they were in 1980.
This is how the system is designed, where the top ranks take the lions share of the wealth and everyone below them take less
I'm willing to bet that over half of the people on here have double that in debt. We do not I have NO debt other then monthly expenses ONE of my check can cover all of those expenses.
How long have you known this guy? How do you know he didn't do the best he could. Not everyone was born into privilege and not everyone is overpaid. And if everyone " got more education" then MORE would be skilled and suddenly your overpaid job doesn't overpay you anymore. Try actually earning your pay before spouting platitudes!
Yep!
"You must spread your reputation around"
If it was a small part of the old population, it would be one thing, but it involves more than that which means it is a systemic issue.
Government Policy currently favors the wealthy and punishes everyone else and this needs to change.
Throwing the lobbyists out of the government that work for the wealthy would be a start.
The story is not about one man but a macro issue. If all people like this man moved up the ladder, who is going to clean the toilets and empty the trash cans.
I don't see ever retiring. Between high and ever increasing property taxes and worries about health care expenses... how can anyone ever save enough for retirement?
Spend less.
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