Another article regarding Boomers needing your help…To sum it all up Baby Boomers are retiring & most will not able to maintain their standard of living…Rising health care cost, dwindling pensions, social security problems…What needs to happen is for Gen X Y to work till age 70 to care for our aging population…Also a tax increase on younger workers would help greatly…What are your thoughts?
http://finance.yahoo.com/news/half-a...100126917.html
With roughly 10,000 boomers retiring every day, the U.S. retirement crisis is no longer an easily dismissed distant concern…
Today’s workers should be socking away more for retirement because the decks are stacked against them in ways that they weren’t 30 years ago. In 1979, 28 percent of all private-sector workers had pensions as their sole retirement plan benefit; by 2011 that number had dropped to 3 percent, according to the Employee Benefit Research Ins ute. Back in the early 1980s, double-digit interest rates meant that it was possible for many retirees top live comfortably off of bond income.
Changes to Social Security mean that boomers will receive a lower replacement rate...
Health care costs typically rise at around 5% to 6% a year, and most people consume more of these increasingly pricey services as they age…
do what we did down here, allow a property bubble to continue rising prices so these clowns can sell up and cash out instead of applying for the govt pension
but instead of doing that they continue to sit in their nest eggs and complain how the govt pension is not enough for them...lol sittin on houses worth a couple of million...when they can sell up and downgrade, live on the interest remaining balance
Baby boomers, flush with stock gains, drive record vacation home sales
http://www.latimes.com/business/la-f...402-story.html
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