Boom in Baby Boomer Bankruptcies

[Walter]

Aug 27, 2018 15:39:19 GMT -5 AlaCowboy said:

Aug 27, 2018 11:15:12 GMT -5 DrSchadenfreude said:

Speaking of America's impending Baby Boomer retirement crisis, I just saw this article at the Drudge Report today.

For those who are interested in the national data on the subject, it includes some appalling stats.

More hard evidence that a substantial percentage of elderly American citizens are in deep shite.

Just one of many reasons that the December 2017 Trump GOP Tax Scam & Healthcare Demolition Act is a policy disaster.

www.cnbc.com/2018/08/27/1-in-3-americans-have-less-than-5000-dollars-saved-for-retirement.html

According to your link wages have increased more than the rate of inflation since 1964, so wages today are higher proportionally than in 1964.
Also from your link, the main reasons those polled haven't increased their savings since last year are:
21% comfortable with retirement savings
16% focusing on another financial priority (maybe buying a house?)
11% haven't gotten around to it
26% income hasn't changed or it decreased
All these numbers reflect is that savings haven't INCREASED since last year.

As to your comments of those that have little or no retirement savings, does that include the 35% that are on welfare? If so, then those few will continue to get their welfare benefits (subsidized housing, food stamps, subsidized utilities, subsidized health care (Medicaid and free prescriptions). So the true number of those you seem so concerned about may be minuscule.

35% of baby boomers are on welfare?
Doubtful.
Link?

[Deleted]

Aug 27, 2018 15:39:19 GMT -5 AlaCowboy said:

Aug 27, 2018 11:15:12 GMT -5 DrSchadenfreude said:

Speaking of America's impending Baby Boomer retirement crisis, I just saw this article at the Drudge Report today.

For those who are interested in the national data on the subject, it includes some appalling stats.

More hard evidence that a substantial percentage of elderly American citizens are in deep shite.

Just one of many reasons that the December 2017 Trump GOP Tax Scam & Healthcare Demolition Act is a policy disaster.

www.cnbc.com/2018/08/27/1-in-3-americans-have-less-than-5000-dollars-saved-for-retirement.html

According to your link wages have increased more than the rate of inflation since 1964, so wages today are higher proportionally than in 1964.
Also from your link, the main reasons those polled haven't increased their savings since last year are:
21% comfortable with retirement savings
16% focusing on another financial priority (maybe buying a house?)
11% haven't gotten around to it
26% income hasn't changed or it decreased
All these numbers reflect is that savings haven't INCREASED since last year.

As to your comments of those that have little or no retirement savings, does that include the 35% that are on welfare? If so, then those few will continue to get their welfare benefits (subsidized housing, food stamps, subsidized utilities, subsidized health care (Medicaid and free prescriptions). So the true number of those you seem so concerned about may be minuscule.

Real wages have been stagnant-- virtually unchanged compared to 40 years ago.

The article stated that explicitly.

Meanwhile, a staggeringly high percentage of Baby Boomers have inadequate savings for retirement-- especially in light of increased costs like rent, (sky high in Denver lately) education, and healthcare.

Meanwhile, Trump and the GOP are destroying Medicaid and the ACA-- which dramatically reduced personal bankruptcies in the middle class in recent years.

Brilliant.

[AlaCowboy]

Aug 27, 2018 16:02:28 GMT -5 Walter said:

Aug 27, 2018 15:39:19 GMT -5 AlaCowboy said:

According to your link wages have increased more than the rate of inflation since 1964, so wages today are higher proportionally than in 1964.
Also from your link, the main reasons those polled haven't increased their savings since last year are:
21% comfortable with retirement savings
16% focusing on another financial priority (maybe buying a house?)
11% haven't gotten around to it
26% income hasn't changed or it decreased
All these numbers reflect is that savings haven't INCREASED since last year.

As to your comments of those that have little or no retirement savings, does that include the 35% that are on welfare? If so, then those few will continue to get their welfare benefits (subsidized housing, food stamps, subsidized utilities, subsidized health care (Medicaid and free prescriptions). So the true number of those you seem so concerned about may be minuscule.

35% of baby boomers are on welfare?
Doubtful.
Link?

Lover Boys link cited Americans, not baby boomers. I responded in kind. Now, if we want to ask if his numbers include those under employment age or those already retired, we need to revise his numbers even lower. And his link cited those that had saved less SINCE LAST YEAR, not for the last 20 or 30 years. How many chose to spend on vacations, clothes, new cars, ATVs, etc, rather than save. I have never owned an ATV, so if we must provide for the retirement of those that buy them for all in the family, could Uncle Sam provide me with one too? My retirement is secure.

[Walter]

Aug 27, 2018 20:11:24 GMT -5 AlaCowboy said:

Aug 27, 2018 16:02:28 GMT -5 Walter said:

35% of baby boomers are on welfare?
Doubtful.
Link?

Lover Boys link cited Americans, not baby boomers. I responded in kind. Now, if we want to ask if his numbers include those under employment age or those already retired, we need to revise his numbers even lower. And his link cited those that had saved less SINCE LAST YEAR, not for the last 20 or 30 years. How many chose to spend on vacations, clothes, new cars, ATVs, etc, rather than save. I have never owned an ATV, so if we must provide for the retirement of those that buy them for all in the family, could Uncle Sam provide me with one too? My retirement is secure.

So that number is erroneous.
Thank you.

[Deleted]

Aug 27, 2018 20:11:24 GMT -5 AlaCowboy said:

Aug 27, 2018 16:02:28 GMT -5 Walter said:

35% of baby boomers are on welfare?
Doubtful.
Link?

Lover Boys link cited Americans, not baby boomers. I responded in kind. Now, if we want to ask if his numbers include those under employment age or those already retired, we need to revise his numbers even lower. And his link cited those that had saved less SINCE LAST YEAR, not for the last 20 or 30 years. How many chose to spend on vacations, clothes, new cars, ATVs, etc, rather than save. I have never owned an ATV, so if we must provide for the retirement of those that buy them for all in the family, could Uncle Sam provide me with one too? My retirement is secure.

These deflective Alabama Dung Troll posts have nothing to do with the central data or the important subject of this thread.

It should be deleted, like most of the Dung Troll's standard ad hominem obfuscation and off-topic troll shite.

[AlaCowboy]

Aug 27, 2018 23:44:23 GMT -5 DrSchadenfreude said:

Aug 27, 2018 20:11:24 GMT -5 AlaCowboy said:

Lover Boys link cited Americans, not baby boomers. I responded in kind. Now, if we want to ask if his numbers include those under employment age or those already retired, we need to revise his numbers even lower. And his link cited those that had saved less SINCE LAST YEAR, not for the last 20 or 30 years. How many chose to spend on vacations, clothes, new cars, ATVs, etc, rather than save. I have never owned an ATV, so if we must provide for the retirement of those that buy them for all in the family, could Uncle Sam provide me with one too? My retirement is secure.

These deflective Alabama Dung Troll posts have nothing to do with the central data or the important subject of this thread.

It should be deleted, like most of the Dung Troll's standard ad hominem obfuscation and off-topic troll shite.

Pointing out your errors and citing facts have nothing to do with the subject of the thread? I know truth and fact overwhelms less intelligent folks, but I thought you wouldn't have a problem with it. I was wrong.

[daleko]

Aug 27, 2018 17:36:45 GMT -5 DrSchadenfreude said:

Meanwhile, a staggeringly high percentage of Baby Boomers have inadequate savings for retirement-- especially in light of increased costs like rent, (sky high in Denver lately) education,

You sayen retired boomers had college costs that were a heavy lift? I'll call bullshit for most, if not all who did a state U. Maybe Haaaavard but that was their choice. $162.50/sem at Wisky. Or are you sayen they have high edu costs in their retirement years. Deals to be had for seniors, countrywide.

[AlaCowboy]

Aug 27, 2018 22:19:41 GMT -5 Walter said:

Aug 27, 2018 20:11:24 GMT -5 AlaCowboy said:

Lover Boys link cited Americans, not baby boomers. I responded in kind. Now, if we want to ask if his numbers include those under employment age or those already retired, we need to revise his numbers even lower. And his link cited those that had saved less SINCE LAST YEAR, not for the last 20 or 30 years. How many chose to spend on vacations, clothes, new cars, ATVs, etc, rather than save. I have never owned an ATV, so if we must provide for the retirement of those that buy them for all in the family, could Uncle Sam provide me with one too? My retirement is secure.

So that number is erroneous.
Thank you.

Yes. YOUR claim that 35% of baby boomers is likely erroneous. But I never said that. You're welcome.

[Deleted]

Aug 27, 2018 23:54:55 GMT -5 daleko said:

Aug 27, 2018 17:36:45 GMT -5 DrSchadenfreude said:

Meanwhile, a staggeringly high percentage of Baby Boomers have inadequate savings for retirement-- especially in light of increased costs like rent, (sky high in Denver lately) education,

You sayen retired boomers had college costs that were a heavy lift? I'll call bullshit for most, if not all who did a state U. Maybe Haaaavard but that was their choice. $162.50/sem at Wisky. Or are you sayen they have high edu costs in their retirement years. Deals to be had for seniors, countrywide.

Uh, Cheese Burgher, I was referring to the money some Baby Boomers have borrowed for their children's educations.

See if you and the Dung Troll can figure that one out...