Did the Baby Boomers ruin America (for everyone else?) (husband, generation, kids)
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This comment is of course ironic. Because you are positive that such things will not occur. I plan for what is more likely to occur, nothing is certain. So far avoiding "boomer-think" has resulted in some big gains. If it stops being beneficial I will rethink matters.
Your planning is wrong. In order to plan for retirement, you plan for a worst case scenario. That way you're more likely to save enough. As time passes, you adjust your plan to be closer to reality. For instance, in my original plan I didn't include SS as an income source. Now that I'm within 10 years of being able to collect on it, it's part of my plan.
Part of the decision to include it was how they increased the retirement age. It added one year for my age group, relatively a minor effect. Past actions point to the government making no changes to those collecting, little to no change for those near to collecting and most change to those who are distant from collecting.
If they reverse this trend as you foresee it, what will happen is the near to retirement will keep working and the retired will re-enter the workforce. This will put your group in a worse position as they'll have to compete against a more experienced workforce who'll likely work for less for more flexibility and won't need to be part of the employer's retirement system.
No, it isn't ironic because I've already planned for your scenario. I'm more than willing to take your job with another retired worker or two and we'll be doing it for less than what you're being paid.
Your planning is wrong. In order to plan for retirement, you plan for a worst case scenario. That way you're more likely to save enough.
I'm not talking about retirement planning, retirement means little to me. I'm talking about current investments, financial planning and other sorts of lifestyle choices.
Quote:
Originally Posted by akck
Past actions point to the government making no changes to those collecting
Past actions are irrelevant, the problem with the boomer cohort is that its so large in generational terms. It will be extremely difficult (politically) to ask the younger to fork out all the money and not ask for any sacrifice on the older boomers.
Quote:
Originally Posted by akck
If they reverse this trend as you foresee it, what will happen is the near to retirement will keep working and the retired will re-enter the workforce. This will put your group in a worse position as ....
The boomers are already avoiding retirement, because as a group they did not save enough for retirement. At the end of the day, I don't think this is the source of problems for Gen X or Y now or in the future. It is after all no more problematic than a surge in population.
I don't think reducing cost of living increases will push a bunch of people out of retirement though. I'm not claiming that boomers are going to get cut off from society security, their pensions, etc. Just that these things may be reduced to deal with the massive budgetary problems. But the problems are more deep than social security and pensions, boomer lead ponzi finance has all sorts of ramifications. On the way up the boomers effected the behavior of all sorts of investment classes and on the way down they will do the same. What is problematic for the boomers is that a lot of their retirement depends on things continuing to work as they have for the last 2-3 decades.
Quote:
Originally Posted by akck
I'm more than willing to take your job with another retired worker or two and we'll be doing it for less than what you're being paid.
Nah, you'd be begging me for work! Regardless, I think the idea that employers (especially younger businesses) will prefer to hire some 60+ folks over younger is pretty inaccurate. Older folks have a much harder time finding new work when they are laid off than younger. Contrary to popular belief Boomers are not actually harder workers than younger generations.
I'm not talking about retirement planning, retirement means little to me. I'm talking about current investments, financial planning and other sorts of lifestyle choices.
So you're either planning on being a burden to society or dying young.
Quote:
Originally Posted by user_id
Past actions are irrelevant, the problem with the boomer cohort is that its so large in generational terms. It will be extremely difficult (politically) to ask the younger to fork out all the money and not ask for any sacrifice on the older boomers.
That's what they said when they raised the retirement age.
Quote:
Originally Posted by user_id
The boomers are already avoiding retirement, because as a group they did not save enough for retirement. At the end of the day, I don't think this is the source of problems for Gen X or Y now or in the future. It is after all no more problematic than a surge in population.
You're wrong here again. What age group has the highest unemployment rate?
Quote:
Originally Posted by user_id
The boomers are already avoiding retirement, because as a group they did not save enough for retirement. At the end of the day, I don't think this is the source of problems for Gen X or Y now or in the future. It is after all no more problematic than a surge in population.
I don't think reducing cost of living increases will push a bunch of people out of retirement though. I'm not claiming that boomers are going to get cut off from society security, their pensions, etc. Just that these things may be reduced to deal with the massive budgetary problems. But the problems are more deep than social security and pensions, boomer lead ponzi finance has all sorts of ramifications. On the way up the boomers effected the behavior of all sorts of investment classes and on the way down they will do the same. What is problematic for the boomers is that a lot of their retirement depends on things continuing to work as they have for the last 2-3 decades.
I thought I said some boomers will work longer, which means they'll hold onto jobs longer. The more that do so means the less jobs available for the younger generations. How is that not a problem for Gen X & Y? Your wishing it away doesn't make it so.
First it was doom and gloom for the boomers. Now it's they won't have it so bad. The boomers didn't lead any ponzi schemes. In fact, they were the ones responsible for keeping it floating for the generations that came before.
Quote:
Originally Posted by user_id
Nah, you'd be begging me for work! Regardless, I think the idea that employers (especially younger businesses) will prefer to hire some 60+ folks over younger is pretty inaccurate. Older folks have a much harder time finding new work when they are laid off than younger. Contrary to popular belief Boomers are not actually harder workers than younger generations.
With the lifestyle you're planning on living in your first paragraph, I highly doubt you'll be in a position to offer jobs. Let me give you a lesson from Business 101. If a young business has an option of hiring you or hiring part-time, 2-3 boomers, at 75% of the cost of you, plus get over 90 years of experience, which do you think they'll choose?
Who said anything about older workers being laid off. We were talking retirees re-entering the workforce and not necessarily at their old jobs. I never said boomers were harder workers, so your last sentence is irrelevant.
So you're either planning on being a burden to society or dying young.
Neither, I have no plans to retire. It sounds rather boring.
Quote:
Originally Posted by akck
That's what they said when they raised the retirement age.
No, its rather different. The changes made in 1983 were made to deal with the boomer problem, but it was done proactively. As a result the boomers largely paid the cost. That is much different than asking the younger generation to make sacrifices for a problem caused by an older generation while the older generation makes none.
Also, raising the retirement age does not really represent a decline in benefits as the average live expectancy keeps going up.
Quote:
Originally Posted by akck
You're wrong here again. What age group has the highest unemployment rate?
Younger folks have a higher unemployment rate, but I'm not talking about the unemployment rate. I'm talking about one's ability to get a new job after they've been laid off. A higher youth unemployment rate is perfectly consistent with what I suggested.
Quote:
Originally Posted by akck
I thought I said some boomers will work longer, which means they'll hold onto jobs longer. The more that do so means the less jobs available for the younger generations. How is that not a problem for Gen X & Y? Your wishing it away doesn't make it so.
How is that not a problem? Because the thinking is not based on sound economics. There is not a fixed number of jobs. Just think of when the boomer started entering the work force! Under this thinking the boomers should have had a hard time entering the work force (they out numbered the people they were "replacing"), but they did not because the economy grew with them.
Quote:
Originally Posted by akck
First it was doom and gloom for the boomers. Now it's they won't have it so bad. The boomers didn't lead any ponzi schemes.
I never stated that it was "doom and gloom" for the boomers, rather I stated that their retirement is going to be worse than they think its going to be. This is really not that controversial, but I suppose on a retirement forum it is? In terms of ponzi schemes, I just you look at the behavior of both the stock market and real estate since the boomers started entering the work force. The boomers bid up both equities and real estate and now need new folks (suckers) to purchase them, but of course even if the younger generations had similar ideas their numbers are not as great.
Quote:
Originally Posted by akck
Let me give you a lesson from Business 101. If a young business has an option of hiring you or hiring part-time, 2-3 boomers, at 75% of the cost of you, plus get over 90 years of experience, which do you think they'll choose?
Aren't lessons suppose to be true? What you are trying to imply may perhaps be true of wal-mart style jobs. But not of more high skill jobs. If you are hiring for a skilled position you are generally going to look for someone that is going to stick with the company not some week end warrior working for pocket change.
Furthermore, the sorts of skills that boomers posses is fairly disjoint from those that Gen X and Y posses. For example far less boomers are involved with technology than Gen X/Y.
From my observation I'm curious how a generation which couldn't/can't clean up their rooms or hang up their clothes will clean up any other kind of mess. Maybe when they're done changing majors and finding "the right fit" for college from their dozens of applications (which their parents paid for) and thinking they deserve a job that offers a month or so vacation available two days after hiring.
yes, do tell, generations that have followed us, flesh of our flesh, fruit of our wombs, how ARE you cleaning up this big mess that we have made for the world? we all hear about the greatest generation that ever lived (those that birthed us) and we all get criticized by the following generations (those that we birthed). give me a break - the "greatest generation" molded the little boomies - they taught us to live in the vacuum of the immediate nuclear family/rest of the world be damned...............they taught us that if you studied, worked hard, went to college, married, bought houses, got toys, birthed kids, all would be well. it was fairly inwardly focused and if we grew up self-centered and pampered, well, that was what we were trained in. actually, a lot of us became much more externally-focused as a result. we did not create the world that followed/we were affected by it. thinking back, it's likely a good deal of the damage occurred while we were crouching under our desks in the proper mode in case the commies dropped THE bOmB.............................................. ................
From my observation I'm curious how a generation which couldn't/can't clean up their rooms or hang up their clothes will clean up any other kind of mess. Maybe when they're done changing majors and finding "the right fit" for college from their dozens of applications (which their parents paid for) and thinking they deserve a job that offers a month or so vacation available two days after hiring.
Hahaha... This is so funny. But they are multifaceted as they CAN text and drive at the same time!
Hahaha... This is so funny. But they are multifaceted as they CAN text and drive at the same time!
One thing about them you can say. They don't come into forums about topics they post they have no plans to pursue and whine about those who are. They don't do they?
I'm not talking about retirement planning, retirement means little to me. I'm talking about current investments, financial planning and other sorts of lifestyle choices.
I'm posting here because the thread topic, I did not even realize it was the retirement sub-forum until after the fact. I don't think I have ever posted in this sub-forum before. The thread really has nothing to do with retirement though, I'm surprised it was not moved. Whoever posted it was obviously trying to rile you up.
I don't care about riling you up, I just care about profiting from your misadventures
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rolling on the floor laughing................
