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Started By
Message
re: Why are so many people broke by the time they reach senior adulthood?
Posted on 5/18/25 at 11:49 am to Zach
Posted on 5/18/25 at 11:49 am to Zach
quote:
All of them are married.
Another huge issue.
59% of over 65s are married.
15% are divorced.
That 15% opened a can of whoop arse on their retirement plans.
This post was edited on 5/18/25 at 11:50 am
0
Posted on 5/18/25 at 11:50 am to Mo Jeaux
quote:Nope. Youth dont want to put in the years of work necessary to reap the rewards that they are currently jealous of
You really think that the “youth don’t want to work” and that they’re just jealous of all the “hard work” boomers put in?
Posted on 5/18/25 at 11:50 am to L.A.
Those of you in this thread who are bringing up health stuff have a point, but the reality is that it is a small portion of the population and statistically speaking, it’s rare for a health issue to knock you out before retirement.
Health issues do not explain the sheer amount of retirees who exclusively rely on ss for income.
Remember: ss was *never* intended to be the sole income source for old people. The govt reasonably expected that someone who has worked for 45 years would have been wise enough to save enough of their income yearly to have a decent nest egg. Not to mention the elderly have no child costs, no mortgage costs, and an extremely generous health insurance plan (Medicare) that costs very little to them in retirement.
The larger issue is financial ignorance among large segments of the population. People who were not saving 10% of their income yearly.
Health issues do not explain the sheer amount of retirees who exclusively rely on ss for income.
Remember: ss was *never* intended to be the sole income source for old people. The govt reasonably expected that someone who has worked for 45 years would have been wise enough to save enough of their income yearly to have a decent nest egg. Not to mention the elderly have no child costs, no mortgage costs, and an extremely generous health insurance plan (Medicare) that costs very little to them in retirement.
The larger issue is financial ignorance among large segments of the population. People who were not saving 10% of their income yearly.
Posted on 5/18/25 at 11:51 am to RogerTheShrubber
I sound like I am wagging a finger, but I have adult kids who I do way too much for. I don't carry them, and they don't really ask for money, but the Dad in me makes me volunteer up money way too often.
I'm not retired yet, but I need to completely wean off those 2 rascals ASAP.
I'm not retired yet, but I need to completely wean off those 2 rascals ASAP.
Posted on 5/18/25 at 11:51 am to GnashRebel
quote:
Most I ever paid was $190k
That's almost impossible as an entry point now
But certainly very doable 10 years ago or more
Posted on 5/18/25 at 11:51 am to Powerman
quote:
And the unfortunate reality is medical bills can cripple people financially before they even get to retirement age
Unfortunate? So these people didn't have insurance or failed to plan with short-term and long-term disability?
That's not "unfortunate"
quote:
And yet the boot lickers will defend our system to the death
Compared to what other system? Canada?
Why don't you ask folks up there how long it takes to get non life threatening major surgery (knee/hip replacement) Canadian wait times
Posted on 5/18/25 at 11:51 am to Narax
Posted on 5/18/25 at 11:52 am to L.A.
quote:Quite simply, it's the overflow/result of an incredibly stupid, short sighted ultra liberal culture in a state (California), that's now buried itself in incompetence and debt. The other three closest states are just where fallout will occur first (plus land's a helluva lot cheaper in them.)
This is a HUGE issue in Arizona, Nevada, Utah, and California.
Posted on 5/18/25 at 11:52 am to Y.A. Tittle
quote:
Just think if they all had just half the investing know how of our Congress.
they would be in jail for I sider trading.
Posted on 5/18/25 at 11:54 am to TigerCoon
quote:
I sound like I am wagging a finger, but I have adult kids who I do way too much for. I don't carry them, and they don't really ask for money, but the Dad in me makes me volunteer up money way too often.
Same. I've got one who is pretty needy, and one who is totally independent. The needy one is expensive as frick and I blame myself for caving so quickly.
Posted on 5/18/25 at 11:55 am to RD Dawg
quote:
Unfortunate? So these people didn't have insurance or failed to plan with short-term and long-term disability?
That's not "unfortunate"
Even with all of that it can still be financially devastating
You still have out of pocket expenses with insurance
Short and long term disability doesn't provide complete income replacement
So yes, it's unfortunate you fricking retard
Posted on 5/18/25 at 11:55 am to RogerTheShrubber
quote:
I blame myself for caving so quickly.
We both need to get over that shite.
Posted on 5/18/25 at 11:56 am to HailHailtoMichigan!
quote:
Not to mention the elderly have no child costs,
Whether through death or frick-uppery there'll always be a significant number of grandparents raising kids.
Posted on 5/18/25 at 11:57 am to TigerCoon
quote:
We both need to get over that shite.
Its hard. She has legit health issues, and I am softhearted with my kids and grandkids.
One of my granddaughters lives with me, I have spent more on her this year than on myself. Bought her a practically new car... and her high school travel budget is out of this world.
Posted on 5/18/25 at 11:59 am to RogerTheShrubber
yeah, that's different. I get it.
Alaska thing?
quote:
and her high school travel budget is out of this world.
Alaska thing?
This post was edited on 5/18/25 at 12:01 pm
Posted on 5/18/25 at 11:59 am to L.A.
Taxed into oblivion, paying for the welfare queens and global corruption isn’t cheap.
Posted on 5/18/25 at 12:05 pm to TigerCoon
quote:
Alaska thing?
Juneau thing. There are no bus rides to away games or meets. Its all by plane or ferry. Kids here travel constantly.
She told me the softball team spent 50k on a trip to play a game out of state.
Granddaughter won the state debating title and is flying to Iowa for the national meet this summer. I'll probably go with her, those trips cost a lot flying from here.
Posted on 5/18/25 at 12:08 pm to RogerTheShrubber
quote:
It happened to my grandma, retard. My mother slowly had to sell off land she owned to pay for her Alzheimer's treatments. You, being a trust funder pretend you werent born on third base... Youve never earned anything.
Ok. Guess I can still go after you. Maybe your dumbass ancestors should have looked into long term care insurance or some other solution so they didn’t have to sell off their land. Some very basic trust planning even.
This makes even more sense why you hate the rich and love estate taxes. Your poor arse family didn’t leave you shite. Not even a bus to give tours on.
Posted on 5/18/25 at 12:11 pm to L.A.
.
This post was edited on 8/17/25 at 1:14 am
Posted on 5/18/25 at 12:12 pm to BBONDS25
I notice you're not disputing his claim that you're a trust fund baby that never had to earn anything
Is that true?
Is that true?
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