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I think the question begs the questions of why they're poor and if they've always been, how did they live before retirement? Most would likely receive Social Security so they'll have some income.
Call me unfeeling but if their plight is as a result of poor planning, over-spending or -extending themselves, as far as I'm concerned they're on their own. If they end up in SROs, soup kitchens and food banks, at least they won't be left on the streets.
The most I've ever mad in a year is $17K, and most years around $12K. I don't think I've been overspending.
The hosts of a conservative radio talk show cited a survey in which one-quarter of workers surveyed (boomers I think) expected they would have to work until 80 in order to live comfortably in retirement.
The hosts wondered what kind of jobs might be available for these oldsters...greeter at Walmart, perhaps a desk job at a storage facility...probably not a whole lot of available jobs for these people, plus most employers would not want to hire someone that old.
So how will these people live when they're, say, 70 or 65 and unable to work or rejected by employers? Will there be a large grey underclass?
Probably yes but for many, their golden years situation was predictable at 30 if they had just given it some thought.
It's all about the choices we make in life and how some choices you make early in life diminish the choices you have later in life. Your goal in life should be to maximize your choices in life so you don't have to be a Wal-Mart greeter when you are 70 because you have other options. Unfortunately, maximizing your choices in life, is not taught in school or in the home by your parents.
For example, when you quit high school, have a baby out of wedlock, do drugs, marry a loser, hang out with a bad crowd you are starting down the road of dwindling choices later in life.
And it's not always "bad" choices, sometimes it's just not well-thought-out choices.
That stay-at-home-mom choice sounds noble when you are 27 but what happens when you hit 50, the kids are gone, and the spouse dies or leaves you and you've never worked since that job you had after school when you were 17? What kind of job do you think you'll get at 50? Your choice at 27 to not gain marketable work experience has narrowed your choices at 50.
Is it time to rethink that furniture moving job (that pays well) when you are approaching 30 or when you are approaching 50?
How about that one of a kind career choice you made at 30? Great job. Exciting job. Pays well. Passed up opportunities for other positions when you were younger and doing this job that would have given you a more diverse resume because you liked your job so much. When the company goes belly up when you are 50 and just starting to think about retirement, what do you do with a limited skill set no one needs and isn't applicable to starting your own business?
It's too late to fix when you are old so yes, there will be a grey underclass but what exactly does "live comfortably in retirement" mean? Does it mean the manner you were accustomed to when you were younger?
I'm sure there is somewhere in the US that an uninsured senior presenting themselves as an emergency to a community hospital was refused service. It has never happened here in my 2 million population metro area, but I am not denying it might have occurred somewhere, sometime. But it is such a rare event I can't imagine worrying about it. Regular, good health maintenance is provided by Medicaid or Medicare. I would prefer not to be treated at a Medicaid clinic, but I doubt there is any torture or humiliation involved.
Medical insurance covering viagra, sex change surgeries, elective surgeries of all types, and endless treatments for psychosomatic disorders not being available to seniors in poverty does not trouble me in the slightest.
Is it time to rethink that furniture moving job (that pays well) when you are approaching 30 or when you are approaching 50?
How about that one of a kind career choice you made at 30? Great job. Exciting job. Pays well. Passed up opportunities for other positions when you were younger and doing this job that would have given you a more diverse resume because you liked your job so much. When the company goes belly up when you are 50 and just starting to think about retirement, what do you do with a limited skill set no one needs and isn't applicable to starting your own business?
It's too late to fix when you are old so yes, there will be a grey underclass but what exactly does "live comfortably in retirement" mean? Does it mean the manner you were accustomed to when you were younger?
All good points, but hypothetical and unfortunately, at least a bit out of date.
As of today, and the last couple of years, and apparently into the future (thanks to many factors), there are very few jobs available in any one decently paying field and the jobs that do come up get so many applications you have to wonder why anyone bothers. My young DIL is brilliant in her field, well mannered, team player, great resume, well connected through her relatives...and just took a state exam for entry level jobs that drew over 300 test takers (all of whom had already made the competitive cut) that day. There may be 2 or 3 openings in the coming year. All of our comments about choices, getting a good job, etc are being made on a radically different ball field now and even those who follow the rules to a T and excel are not able to play. Hence, you have people with higher education working at the kinds of jobs you cite, above.
Probably yes but for many, their golden years situation was predictable at 30 if they had just given it some thought.
It's all about the choices we make in life and how some choices you make early in life diminish the choices you have later in life. Your goal in life should be to maximize your choices in life so you don't have to be a Wal-Mart greeter when you are 70 because you have other options. Unfortunately, maximizing your choices in life, is not taught in school or in the home by your parents.
For example, when you quit high school, have a baby out of wedlock, do drugs, marry a loser, hang out with a bad crowd you are starting down the road of dwindling choices later in life.
And it's not always "bad" choices, sometimes it's just not well-thought-out choices.
That stay-at-home-mom choice sounds noble when you are 27 but what happens when you hit 50, the kids are gone, and the spouse dies or leaves you and you've never worked since that job you had after school when you were 17? What kind of job do you think you'll get at 50? Your choice at 27 to not gain marketable work experience has narrowed your choices at 50.
Is it time to rethink that furniture moving job (that pays well) when you are approaching 30 or when you are approaching 50?
How about that one of a kind career choice you made at 30? Great job. Exciting job. Pays well. Passed up opportunities for other positions when you were younger and doing this job that would have given you a more diverse resume because you liked your job so much. When the company goes belly up when you are 50 and just starting to think about retirement, what do you do with a limited skill set no one needs and isn't applicable to starting your own business?
It's too late to fix when you are old so yes, there will be a grey underclass but what exactly does "live comfortably in retirement" mean? Does it mean the manner you were accustomed to when you were younger?
The key is NOT WAITING till your 50. I know many do it, but this is foolish.
I began a IRA (Roth's didn't exist) from my summer job the year I turned 15.
If it goes belly up when your 50, after 25-30 years of living below your means, no debt, mortgage paid off or nearly so, and all those years of savings and investments...
Totally different dynamic.
Quote:
Originally Posted by Wilson513
I'm sure there is somewhere in the US that an uninsured senior presenting themselves as an emergency to a community hospital was refused service. It has never happened here in my 2 million population metro area, but I am not denying it might have occurred somewhere, sometime. But it is such a rare event I can't imagine worrying about it. Regular, good health maintenance is provided by Medicaid or Medicare. I would prefer not to be treated at a Medicaid clinic, but I doubt there is any torture or humiliation involved.
Medical insurance covering viagra, sex change surgeries, elective surgeries of all types, and endless treatments for psychosomatic disorders not being available to seniors in poverty does not trouble me in the slightest.
IF it ever did they should call the police because the Hospital would be in violation of federal law.
The key is NOT WAITING till your 50. I know many do it, but this is foolish.
I began a IRA (Roth's didn't exist) from my summer job the year I turned 15.
If it goes belly up when your 50, after 25-30 years of living below your means, no debt, mortgage paid off or nearly so, and all those years of savings and investments...
Totally different dynamic.
IF it ever did they should call the police because the Hospital would be in violation of federal law.
Actually,community hospitals that did not take federal funds under the Hill Burton Act may be exempt, but they still would not refuse. All the hooey about people without health care is just that. They have health care they just don't have insurance so they can't get federally mandated services like sex change and viagra.
Actually,community hospitals that did not take federal funds under the Hill Burton Act may be exempt, but they still would not refuse. All the hooey about people without health care is just that. They have health care they just don't have insurance so they can't get federally mandated services like sex change and viagra.
The article I linked to spelled it out:
Quote:
The federal law applies to hospitals that participate in Medicare
Mentioned the law etc.
And I Agree. It's been a few years since I was a Vol EMT, but I have yet to see a hospital that would turn away a true emergency. (Comes to that... insurance and ability to pay won't even be brought up till yoru stable, so how would they know!!!??!??!?!?)
The article I linked to spelled it out:
Mentioned the law etc.
And I Agree. It's been a few years since I was a Vol EMT, but I have yet to see a hospital that would turn away a true emergency. (Comes to that... insurance and ability to pay won't even be brought up till yoru stable, so how would they know!!!??!??!?!?)
Assuming there are no changes to Medicaid, Medicare or Social Security.
The key is NOT WAITING till your 50. I know many do it, but this is foolish.
I began a IRA (Roth's didn't exist) from my summer job the year I turned 15.
Traditional IRA's weren't even established until 1986.
I was wa-ay past 15 by then.
Some of us had a lot of catching up to do.
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