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Why are so many people broke by the time they reach senior adulthood?
Posted on 5/18/25 at 10:47 am
Posted on 5/18/25 at 10:47 am
In our little town the city council just sold city-owned land to a developer for 10 cents on the dollar to build "affordable housing" literally across the street from a very expensive, upscale neighborhood. The locals are not happy.
But this is not an isolated incident. There's a big push here in the West for "affordable housing for low income senior adults." I assume it is occurring elsewhere as well. Evidently a large percentage of people reach senior adulthood with only social security for an income and thus cannot affording housing. How does this happen?
But this is not an isolated incident. There's a big push here in the West for "affordable housing for low income senior adults." I assume it is occurring elsewhere as well. Evidently a large percentage of people reach senior adulthood with only social security for an income and thus cannot affording housing. How does this happen?
55
Posted on 5/18/25 at 10:49 am to L.A.
Everything is more expensive and the wages stay the same. Meanwhile boomers will brag about going on their 5th Caribbean cruise in a year.
Posted on 5/18/25 at 10:50 am to L.A.
They are trying to move blue voters from deep blue districts to light red and purple districts by locating “affordable government housing in those areas” to concentrate more votes for political gain.
All subsidized by the red taxpayers.
All subsidized by the red taxpayers.
Posted on 5/18/25 at 10:51 am to L.A.
Because in the past, these people wouldn’t survive to see senior adulthood. Our welfare system / healthcare system keeps the most worthless people alive into their eighties.
Posted on 5/18/25 at 10:51 am to L.A.
Arizona?
Posted on 5/18/25 at 10:51 am to L.A.
Because they live in fixed incomes that don’t keep pace with inflation.
Posted on 5/18/25 at 10:51 am to L.A.
175 million people in the US have a below average intelligence.
Just our stupid people alone would be the 8th largest country in the world.
Just our stupid people alone would be the 8th largest country in the world.
Posted on 5/18/25 at 10:53 am to Mo Jeaux
quote:My question is why. You have 65 years to prepare for retirement and you have no savings, can't pay rent, and your only income is SS. How does that happen?
Because they live in fixed incomes that don’t keep pace with inflation.
Posted on 5/18/25 at 10:55 am to roadGator
quote:
Arizona?
This is a HUGE issue in Arizona, Nevada, Utah, and California. I assume it's happening elsewhere as well.
Posted on 5/18/25 at 10:55 am to L.A.
Don’t you think that there are a multitude of reasons and circumstances?
Posted on 5/18/25 at 10:56 am to L.A.
quote:
My question is why. You have 65 years to prepare for retirement and you have no savings, can't pay rent, and your only income is SS. How does that happen?
You take the easy road every time and have no clue what delayed gratification is.
Posted on 5/18/25 at 10:56 am to L.A.
need more
Posted on 5/18/25 at 10:57 am to Gifman
For some, sure. For others, no.
Posted on 5/18/25 at 10:57 am to Mo Jeaux
quote:I do. And I'm trying to understand what they are. Hence this thread.
Don’t you think that there are a multitude of reasons and circumstances?
Posted on 5/18/25 at 10:59 am to L.A.
The selfish answer is bad parenting which is their own fault (kids being a leach, etc.), but sadly, we let our health and nutrition systems bankrupt us through having high volumes of kids getting autism and everyone getting cancer or some other environmentally driven affliction.
Edit: forgot to add, loss of manufacturing jobs and wealth producing industry. All of the above can be attributed to our socialist/communist leadership in the swamp.
Edit: forgot to add, loss of manufacturing jobs and wealth producing industry. All of the above can be attributed to our socialist/communist leadership in the swamp.
This post was edited on 5/18/25 at 11:02 am
Posted on 5/18/25 at 10:59 am to pevetohead
quote:
Meanwhile boomers will brag about going on their 5th Caribbean cruise in a year.
I’m a boomer, and I got so sick of those cruises that I’m buying a cruise ship and converting it into a personal yacht.
BTW: Do you notice the disconnect betweem Boomers being so rich, and seniors unable to afford housing?
This post was edited on 5/18/25 at 11:02 am
Posted on 5/18/25 at 11:00 am to L.A.
Our healthcare system might be a good place to start looking
Posted on 5/18/25 at 11:00 am to L.A.
quote:
My question is why. You have 65 years to prepare for retirement and you have no savings, can't pay rent, and your only income is SS. How does that happen?
Because not working is expensive.
If you retired at 62 and are 82, thats 20 years of time to blow through savings.
Every time you cash out an investment, that's it.
At 82 you probably have 10 years left.
Posted on 5/18/25 at 11:01 am to L.A.
Real simple: A lifetime of very poor choices and never planning for the future
Posted on 5/18/25 at 11:01 am to Mo Jeaux
quote:
Because they live in fixed incomes that don’t keep pace with inflation.
That’s is patently false. COLA is the reason the “inflation” gains in the first place amongst dozens of other variables.
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