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re: Here's How 24% of Baby Boomers Are Solving Their Retirement Crisis
Posted on 12/28/17 at 8:16 am to GurleyGirl
Posted on 12/28/17 at 8:16 am to GurleyGirl
quote:yeah, losing. They're so bad at life I almost feel sorry for them.
Meanwhile a significant portion of their children are living in the parents basement.
0
Posted on 12/28/17 at 8:18 am to Lacour
quote:
In the exact same boat. I’m going to retire in 10 years at 50. Same here on the savings and the talk with FA. The reason is simple. Greed.
If serious, that's impressive. Retiring at 50 takes a combination of substantial retirement assets and very manageable spending.
Posted on 12/28/17 at 8:22 am to Lacour
quote:
In the exact same boat. I’m going to retire in 10 years at 50. Same here on the savings and the talk with FA. The reason is simple. Greed.
The American Dream. The overwhelming majority of people spend money they don’t have on stuff they don’t need. They don’t think about next month much less 40 years from now.
Dave Ramsey is a millionaire because people in this country are too stupid to know not to spend money on stupid shite.
That’s not a boomer or millennial problem. That’s a moron problem. And we’ve got a helluva lot more morons around here than not
1) I wouldn't want to retire at 50. Especially not after seeing my dad retire at 55ish and almost go crazy from boredom after two years of traveling and buying random shite.
2) I wouldn't want to retire at 50 if it meant having to drive around the same Honda Accord for 30 years.
I think there's a balance to saving and actually enjoying the finer things in life. I worked with an engineer who just retired at 60. He and his wife have all kinds of money now. But they've been living in a glorified double-wide for the past 20 years to save up so he could retire early. To each his own.
Posted on 12/28/17 at 8:23 am to Lacour
quote:
Lacour
quote:
I’m going to retire in 10 years at 50.
I hope you have savings and investments totaling into multiple millions, because health insurance will eat away at it very quickly. I'm in my 50s with a nest egg already above seven figures, and I can't retire yet because of health insurance. I will retire at 62 1/2 when i can first draw social security, and use that to pay for health insurance. My wife is five years younger than me, and doesn't work, so I have to pay for hers also. Health insurance for the both of us will be close to three grand a month when I retire, if not more.
This post was edited on 12/28/17 at 8:29 am
Posted on 12/28/17 at 8:24 am to GreatLakesTiger24
It's not funny. It's fricking scary, because these fricks can vote, and our social security taxes are going to bail them out and leave nothing for us.
Posted on 12/28/17 at 8:25 am to Pecker
Retiring at 50 is usually difficult because you're in your prime earning years. You make more in a year that'll you did in the entirety of your 20s sometimes. It's hard to step away, and from a finance standpoint, an extra year or 3 is monumental.
Granted, it's nice to be able to financially retire at 50 and then work past 50 if you want to do so, not because you need to do so.
Granted, it's nice to be able to financially retire at 50 and then work past 50 if you want to do so, not because you need to do so.
Posted on 12/28/17 at 8:26 am to GreatLakesTiger24
I’m 32. I manage a 70, 65, 61, 60 and a few in 50s. I’ve realized that generation is fricked. The first four I’m pretty sure we are going to have to bury at their desks.
Posted on 12/28/17 at 8:26 am to gatorrocks
quote:
I mean, all these people can ride off into the sunset whenever they feel like it, but choose to go on.
Choose a career you love and you’ll never work a day in your life. These people chose wisely.
Posted on 12/28/17 at 8:26 am to GreatLakesTiger24
Continually securing that “Worst Generation Ever” title. Way to go hippies.
Posted on 12/28/17 at 8:27 am to GreatLakesTiger24
There’s a good article that recently came out... too lazy to find it.
Basically the boomers never took JFK’s words to heart, did the exact opposite, and now we’re all screwed.
But they will blame the millennials for not working harder and paying more taxes so they can live in retirement luxury.
Basically the boomers never took JFK’s words to heart, did the exact opposite, and now we’re all screwed.
But they will blame the millennials for not working harder and paying more taxes so they can live in retirement luxury.
Posted on 12/28/17 at 8:28 am to PrivatePublic
quote:
Maybe young people should try full time jobs instead of just part time Starbucks and uber?
Starbucks and uber are the only companies that are hiring in this economy
Posted on 12/28/17 at 8:31 am to Raleigh Tiger
My boomer parents aren't in the same shape.
They saved, paid off their house, and retired on time.
They installed solar panels years ago in anticipation of wanting to cut their energy costs. If Social Security dried up tomorrow, they'd be cranky about it, but they'd be fine.
They saved, paid off their house, and retired on time.
They installed solar panels years ago in anticipation of wanting to cut their energy costs. If Social Security dried up tomorrow, they'd be cranky about it, but they'd be fine.
Posted on 12/28/17 at 8:42 am to Lacour
quote:
The baby boomers single handedly ruined America
Hey, we won a war for you didn't we?
ETA: never mind, that was our parents wasn't it.
This post was edited on 12/28/17 at 8:44 am
Posted on 12/28/17 at 8:50 am to GreatLakesTiger24
quote:
24%
so I guess the other 76% have their shite together?
wonder how that compares to 76% of millennials?
Posted on 12/28/17 at 8:53 am to tigerinthebueche
I'm a Gen Xer. My dad is a boomer and he is doing very well in retirement. My father in law however didn't save a damn penny and part of me is happy he passed away when he did. It sucks that I feel that way, but man what a pain in the arse it would have been.
Posted on 12/28/17 at 8:54 am to tigerinthebueche
quote:you suck at reading
so I guess the other 76% have their shite together?
Posted on 12/28/17 at 8:56 am to StringedInstruments
quote:
Only bit of defense I'll grant them is that they were the first generation to grow up being told social security would provide their retirement.
fricking baby boomers, relying on the government to provide for them
Posted on 12/28/17 at 8:58 am to tigerinthebueche
quote:
so I guess the other 76% have their shite together?
If you think 76% of any demo has their shite together, you're definitely a boomer who read that on Facebook.
Posted on 12/28/17 at 8:59 am to GreatLakesTiger24
quote:
Another thing: While that $163,577 represents the average savings balance among baby boomers nearing retirement, the median savings balance for that age group is just $17,000.
Boomers are far more likely to have pensions to rely on.
If my generation has only $163,577 saved in their 50s, they are completely fricked.
Posted on 12/28/17 at 9:00 am to el Gaucho
quote:
Starbucks and uber are the only companies that are hiring in this economy
I know you are joking....but doesn't Starbucks offer retirement saving plans to their employees?
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