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re: Why are so many people broke by the time they reach senior adulthood?
Posted on 5/18/25 at 11:02 am to wutangfinancial
Posted on 5/18/25 at 11:02 am to wutangfinancial
quote:
That’s is patently false. COLA is the reason the “inflation” gains in the first place amongst dozens of other variables.
What?
0
Posted on 5/18/25 at 11:03 am to L.A.
Many get laid off and quickly discover employers don’t want salaried employees in their 50s, effectively putting them into semi retirement a decade or two earlier than expected.
Posted on 5/18/25 at 11:04 am to L.A.
quote:
How does that happen?
Most people are retarded
Posted on 5/18/25 at 11:04 am to L.A.
Would you want Section 8 housing across the street from where you live?
Posted on 5/18/25 at 11:05 am to L1C4
Generally, no, but I could possibly make an exception for senior living.
Posted on 5/18/25 at 11:05 am to pevetohead
quote:after working over 40 years, 10 hours a day and paying into the system the entire time, they can talk about it all they want.
Meanwhile boomers will brag about going on their 5th Caribbean cruise in a year.
younger generations dont want to put in the work and are jealous of those that did who are reaping their rewards.
Envy is a sin
Posted on 5/18/25 at 11:06 am to L.A.
(no message)
Posted on 5/18/25 at 11:06 am to AuburnTigers
quote:
younger generations dont want to put in the work and are jealous of those that did who are reaping their rewards.
Sure, paw-paw. Posted on 5/18/25 at 11:07 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 don't save. Duh. Why is this so hard for you to understand?
Some people just never make enough money to have some left over after paying the bills to save.
Some people have money left over after paying bills, but they squander it on booze, shoes, w/e.
Some people make risky investments that don't pay off. After all, there is no risk if there is no potential to fail.
Some people have all their saving taken by the health car industry for medical problems.
Posted on 5/18/25 at 11:11 am to Powerman
quote:
Our healthcare system might be a good place to start looking
That was my first thought too.
Posted on 5/18/25 at 11:12 am to Penrod
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.
The only cruises I've ever taken have been river cruises. French and German wine country was incredible and I highly recommend, MS River had very nice accommodations but unless you're looking to play poker 15 hours a day it gets old. A Carribbean cruise just seems like it would 86 everything I'm looking for in the Carribbean right from the start. There's one . . commodity in particular that's dirt cheap and super high quality all over those islands. But I wouldn't want to board a cruise ship with it.
Posted on 5/18/25 at 11:13 am to L1C4
quote:
Would you want Section 8 housing across the street from where you live?
Hell no.
Posted on 5/18/25 at 11:13 am to L.A.
Most of the time is obviously poor planning/spending habits but sometimes bad timing.
I knew people who reached retirement age in '01 when the tech bubble burst and lost a huge part of their of their retirement savings and the same in the '06/'07 collapse.
Very thankful I was not near retirement in both those eras and able to recover from both
I knew people who reached retirement age in '01 when the tech bubble burst and lost a huge part of their of their retirement savings and the same in the '06/'07 collapse.
Very thankful I was not near retirement in both those eras and able to recover from both
Posted on 5/18/25 at 11:13 am to L.A.
Life is expensive
Some people don’t make a ton of money
Some people lose a ton of money.
Some people don’t make a ton of money
Some people lose a ton of money.
Posted on 5/18/25 at 11:14 am to Mo Jeaux
quote:
Sure, paw-paw.
Just when I was starting to take you seriously
Posted on 5/18/25 at 11:15 am to L.A.
Not everyone gets 65 years.
My health absolutely cratered at the peak of my career (radiology manager over a chain of 17 surgical hospitals, the average $ for just one hospital is 100k/year, do the math).
Been unable to work for over a decade now and turn 61 next month. Plus lost a house to looter/vandals that insurance refused to cover (all contents included).
I own a small closet of clothes and a 2009 Mitsubishi. That’s all. I have zero income except about $1 interest/month on a checking account. And I spend large portions of the year hospitalized.
There’s people worse than me out there in every city. shite happens and sometimes it won’t wash off. Just be glad you are able to crap on your own in a clean toilet.
My health absolutely cratered at the peak of my career (radiology manager over a chain of 17 surgical hospitals, the average $ for just one hospital is 100k/year, do the math).
Been unable to work for over a decade now and turn 61 next month. Plus lost a house to looter/vandals that insurance refused to cover (all contents included).
I own a small closet of clothes and a 2009 Mitsubishi. That’s all. I have zero income except about $1 interest/month on a checking account. And I spend large portions of the year hospitalized.
There’s people worse than me out there in every city. shite happens and sometimes it won’t wash off. Just be glad you are able to crap on your own in a clean toilet.
Posted on 5/18/25 at 11:15 am to Gifman
quote:
You take the easy road every time and have no clue what delayed gratification is.
didn't take the easy road, am really understanding what delayed gratification is & it is an absolute dream - you younger folks need to figure it out as soon as you can, your decades of time to get things in order are your greatest asset
Posted on 5/18/25 at 11:16 am to L.A.
quote:
Just when I was starting to take you seriously
Did you not read the asinine post to which I was responding?
Posted on 5/18/25 at 11:16 am to L.A.
It’s actually pretty simple.
A large portion of our population doesn’t make a lot of money at their jobs and basically live check to check. They have little to no savings or retirement savings and will depend on SS benefits to live on in their elderly years.
Unless you have a stable, somewhat well paying job, it’s not easy to save for retirement with the cost of living constantly increasing.
For every person with a good job and retirement savings, you probably have two or three that don’t.
A large portion of our population doesn’t make a lot of money at their jobs and basically live check to check. They have little to no savings or retirement savings and will depend on SS benefits to live on in their elderly years.
Unless you have a stable, somewhat well paying job, it’s not easy to save for retirement with the cost of living constantly increasing.
For every person with a good job and retirement savings, you probably have two or three that don’t.
This post was edited on 5/18/25 at 1:18 pm
Posted on 5/18/25 at 11:16 am to L.A.
quote:
Why are so many people broke by the time they reach senior adulthood?
Women
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