Authored by Bruce Wilds via Advancing Time blog,
Ugliness awaits most boomers nearing retirement, not only have they been lied to, but they also have to deal with rigged markets, corruption, and incompetent advisors. Boomers make up the second-largest generation in American history, it consists of over 72 million individuals. Those that haven’t already retired are getting ready to. A big problem is most have little in the way of savings.
Adding to this problem is that the generations following the baby boomer generation are even worse off and America’s economic picture is less than rosy. It does not help that Americans have been encouraged over the years to spend and incur debt rather than save. This encouragement comes from politicians hooked on the idea consumer spending creates a strong economy.
This results in many people retiring with little savings and dependent on a government already deep in debt to care for them in their older years. Those of us that have studied the numbers come to shaking our heads in horror, simply put, something has to give and most likely promises will be broken, When words like unsustainable and insolvent have been muttered they simply get brushed aside by daily life.
For years those in power have hidden and sheltered Americans from the harsh truth that the numbers simply do not work but history shows politicians would rather kick the can down the road than deal with reality. To the many people that have been looking forward to a comfortable and leisurely life in their older years. The fact that things could be worse is not something that will cause most retirees to leap with joy.
An example of what we face is evident in healthcare. this is a sector of the economy that Washington has pledged to fix and even claimed it has. The chart put out by Statista shows the U.S. has the most expensive healthcare system in the world.
You will find more infographics at Statista
This matters if you consider it as a tax on the American people and realize that healthcare is a major expense for people as they age. This hits medicare directly in the heart meaning as cost soar for the program something will have to be done. That something generally comes in the form of cutting benefits and charging recipients more.
While there is more to life than money, few people choose to live in poverty. Unfortunately, even most Americans that have saved over their lifetime and done the right thing are in peril.
Over the years, the Fed has inflated the money supply and in doing so it also inflated asset prices, including stocks, bonds, and real estate. Much of this is the result of ballooning debt. Make no mistake about it, the government has fed at the debt trough and it has made our future less promising. Yes, we are roughly 33 trillion in debt, not counting the unfunded liabilities of social security, medicare, and Medicaid.
While This Is An older Chart, Little Has Changed. Reality Is Not Pretty
With the current trajectory of economic policies and inflation running above the return savers can earn from safe investments things will only get worse for retirees and those close to retirement age. Considering the amount of debt already amassed, the government is going to have a difficult time putting together generous new aid packages to come to the aid of those dependent upon its programs. This will result in conflict as both the young and the old are forced to fight over the few scraps it can provide.
All this has created a situation where if the money supply now contracts a huge number of defaults will occur and both businesses and investors will incur big losses. This threat to 401Ks and pension plans is real and would make many boomers collateral damage in any effort they make to correct the mess they have created. Those in or nearing retirement should make an extra effort to reduce risk and keep their savings safe.
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I live in a area with a high number of retiree’s. I would say the ugly is already here, electricity going up 17%,food inflation real numbers are much higher than stated. Many food items up 50% or more..
With fuel prices last Summer few traveled RV’s sat in the back yard..Most can’t even justify day trips to the mountains.
Of course everyone’s IRA got hammered so it seems few are accessing them unless its an emergency.
People have hunkered down, reduced dining out or whatever else they can cut.
If you are old and near the end, just apply for as many credit cards as possible and go to town. The bankers will never come for you, they will just print all the money they need to replace all the money they lost. It is the same thing our government is doing so why not join the game while it is still being played?
The high horse is running on lame legs. OH SHIT! Down he goes and just like that, the race is over. Who could have seen it coming?
Trusts and estates people.
Hide your wealth, then abuse the credit system.
Buy gold on credit, default and do it again.
Use the fucked up system to your advantage.
Credit card company algorithms give HIGHER limits to those who miss payments. Work their system against them.
If you had just saved your money for the future, you could to buy more of the bread that will no longer exist ….reeeee …stupid boomers…
https://www.youtube.com/watch?v=GESEX-Aqhg4
I hope this next three months doesn’t begin or end on a Friday. Don’t wanna miss FF here
Oh well.at least they took the ungrateful sociopaths to Disney for a 15 k vacation lol.
Plagiarized from ZH.
“Have you seen the price of cat food lately?”
Cat Food? Please! Have You seen the Price of Home Heating Oil Lately? OUTSIDE Tanks like that REQUIRE #1 Grade. Stratospheric, ‘Nose-Bleed’ $$$!
Still. WHEN i hit the Lottery?
Gonna be in High Cotton! Gonna get me & The Little Lady a place just like THAT!
Maybe NOT so Gaudy & Ostentatious as that highfalutin’, high-tech TV antenny, prolly have ta save up for those pretty blue Tarps. Too.
Still. One Can Have The American Dream!
Crapped my pants a few times afore, after too much ‘Shine.
Feel infinitely qualified ta be PRESIDENT!
Would imagine that pays ‘OK’?
Tarnation! Prolly could afford a truck. And the Concrete Blocks to put it on!
Don’t worry, we will print all the money we need and everyone will be a millionaire soon.
Piece of shit Joe just gave over $100,000 each to over 350,000 teamsters to bail out their failed pension fund.
Where did he get the money?
Now you union pieces of shit are all one step below welfare whores.
Now don’t get all torqued up about what is functionally Monopoly money now.
It’s not like he gave them gold.
Gold is a barbarous relic.
Can you wipe your ass with it?
I know many people like the guy in the picture and they are perfectly happy.
Not that the economy isn’t whatever.
Garbage article. The statistics are flawed. But then, when you cherry-pick statistics, any desired outcome is possible, so long as you do a very good job of destroying the undesired statistics.
America has the “highest” health care costs because every other socialist country on the list heavily subsidizes “free” health care. The trade is very long lines waiting to see a doctor, dying before receiving any health care, and the socialist big-failure government stealing up to 90% of your income. You will have nothing and be happy.
As for boomers ending up where they are, that is their own fault. They ridiculed their Greatest Generation parents when they were told to save what they earned instead of spending it faster than they earned it. The boomers wasted what they earned on things they really didn’t need, but the fake news and Hollyweird told them that they needed it in order to keep up with other boomers suffering from the same brainwashing. The boomers are the first almost fully brainwashed generation in America. Now they are mostly retired and have nothing because they spent faster than they earned and still have massive debts that they would not have if they had been financially responsible for themselves. They believed falsely that Socialist Security was a retirement plan. It isn’t. Now I am supposed to lose sleep over them? They can fuck off. They dug their own hole. Now they can sleep in it.
Not all boomers are in this failed condition. I know of a few who did save for retirement and are better off now than when they were younger, working very hard and saving back then. Yes, they are the minority.
As for following generations, they too are following in the bad choices and financial failures of the majority of boomers, spending more than they earn, living paycheck to paycheck, buying junk they don’t need, and not saving for retirement. Why? Because the failed boomers taught them how to be lifetime failures while ridiculing the minority boomers who worked hard and saved what they earned.
Solution? There isn’t one that is good for the financial failures who spent faster than they earned, other than dying when they turn 60, because they no longer serve any purpose according to the socialist agenda.
Amen.
The solution used to be living abroad where your retirement money provided a comfortable life until the Satanic U.S. government and Globalists ruined all options with their policies and money printing…now there is no where to hide.
Inflation and low interest rates have and are doing quite a good job killing boomers also.
Unfortunately, the price of blindly believing lies is quite high.
Some learn early if something sounds too good to be true, it is. (not ‘probably is’)
I was 11 when they explained Social Security to me, and I remember thinking what an awesome scam.
Pay me money out of every paycheck and I’ll give it back to you when you retire.
Anybody that made that offer would be laughed out of the room.
But the government says it and people buy in.
Whatever….
I’m a boomer that retired at 55, and my wife retired at 52. We never made more than the average US income. My wife was an airlines dispatcher for 14 years. Very modest Salary, but it gave us good flight benefits, and health insurance when I later had a job with none. We mostly always lived off of my Salary. What really counts is we were always very discipline people, and we never had any serious health problems. We bought our first little zero lot house, 1100 square feet, for $39,000 cash. We saved most of the cast ourselves. But Aunt Jenny also gave us some cash that was part of my inheritance. It was already nice. But being a construction man, I fixed the place up perfectly. We bought a bigger house a couple years later, and with the sale of the first house, paid it off in a couple years. again I fixed the house up perfectly before we sold the 2nd house, and bought our third house 12 years later with cash. Discipline is the key to life. We always worked hard, we lived modestly, we did our own house maintenance and remodeling, we never over indulged in alcohol or did any drugs, including medical prescriptions, and we maxed out Roth Ira’s and or 401 K’s most years. We always saved our money for traveling, and my wife working for an airlines saved us a lot of money on plane tickets. I was fortunate in many ways. But, I always practiced what I preached. One who has love for God, believes that God has a wonderful plan for us all. I didn’t do to bad for a ghetto rat who lived in the Wicker Park/Bucktown area of Chicago. Most of all, set no limitations on yourself, and remember most people don’t know shit.
Stupid bullshit article.
That picture of the house-trailer in conjunction with the title “ugliness awaits many boomers” irritates me to no end.
I lived in a trailer for 3 months when I was in my 20s. It was actually kind of nice. I’ve had friends who lived in trailers … some of them really nice. And, yes, some trailers are not very nice at all … just like some houses.
But, I guess according to this elitist cocksucking materialistic donkey-dick sucking fuckwad living in a trailer means you live in “ugliness”?? I hope his fucken fancy schmancy house burns to the ground!
Agree. Life is what you make it. The right attitude turns a hovel into a mansion, and the wrong attitude turns a mansion into a hovel.
I left the rat race many years ago and moved into a trailer. Do I miss the large living space? Sure. But my property taxes for the year on the trailer are about seven dollars a year.
I lived in a trailer when I was in college.
Best place I have ever lived, bar none.