Retirement Crisis

[beachFool]

Retirement Crisis: Baby Boomers Near 65 With Retirements In Jeopardy

"If I'd been smarter and planned and had the bucks, I'd wait until 70 <to take Social Security>," says Vanatta, who is divorced and rents an apartment. "It's my fault. For years I was making plenty of money and spending plenty of money."

Vanatta is in the majority. Some 51 percent of early boomer households, headed by those ages 55 to 64, face a retirement with lower living standards, according to a 2009 study by the Center for Retirement Research at Boston College.

 

[scooterbug44]

Cue the deafening silence from the "privatize Social Security" folks. :roll:

Social Security is the only income many of these folks have - and can't even delay a couple years for higher payments.

 

[Lake View Too]

Retirement Crisis: Baby Boomers Near 65 With Retirements In Jeopardy

"If I'd been smarter and planned and had the bucks, I'd wait until 70 <to take Social Security>," says Vanatta, who is divorced and rents an apartment. "It's my fault. For years I was making plenty of money and spending plenty of money."

Vanatta is in the majority. Some 51 percent of early boomer households, headed by those ages 55 to 64, face a retirement with lower living standards, according to a 2009 study by the Center for Retirement Research at Boston College.

That sounds like me: I spent all my money on food, clothing, mortgage, gas, beer...them dadgum necessities ate a hole in my "retirement". And besides, I thought I would die before I got old...dang!

 

[cooper]

Cue the roar from "my retirement is someone else's responsibility" folks.

 

[30ashopper]

Cue the deafening silence from the "privatize Social Security" folks. :roll:

Social Security is the only income many of these folks have - and can't even delay a couple years for higher payments.

If that's really the case, there are going to be a lot of greeters at Walmart over the next few decades. You can't survive off SS income.

As for ss privatization, it wouldn't effect these folks, so it's not relevant.

 

[poppy]

If that's really the case, there are going to be a lot of greeters at Walmart over the next few decades. You can't survive off SS income.

As for ss privatization, it wouldn't effect these folks, so it's not relevant.

You would be surprised what little money some people are surviving on now so SS income will do them just fine compared to no retirement at all.

 

[GoodWitch58]

There are many people who survive on SS alone...perhaps not the lifestyle they would like, but it's all they have...

 

[LuciferSam]

A lot of people when they get old and their health goes to pieces, all they need is affordable heatlth care and a comfortable place to live. Some may not even be able to drive, so there goes the need for a car. If their house is paid for or their mortgage is low, social security may provide them the money they need for their living expenses. Unfortunately for them, many of the older folk are simply not capable of living an extravagant lifestyle. They are just fortunate to be living at home perhaps with healthier friends and relatives to help them out.

 

[AndrewG]

Perhaps if primary care physicians were paid by Medicare to advise elderly patients of other "options", besides trying to extend their unproductive lives, The US could save money and reduce the carbon footprint in one fell swoop.

 

[GoodWitch58]

Perhaps if primary care physicians were paid by Medicare to advise elderly patients of other "options", besides trying to extend their unproductive lives, The US could save money and reduce the carbon footprint in one fell swoop.

are you really bringing up the "death panels" again...