Baby boomer covers people from 62-80 and the younger people in that range are tending to retire at 70 instead of 65 to get their maximum benefits.
My parents are in their early 60s and while they just retired, the vast majority of their friends are not, and are not planning to anytime soon. A lot of people in that age bracket don’t want to touch their 401ks when the market is still doing so well. So a lot of baby boomers are still in danger with overexposed portfolios raking in 20% returns.
I think pushing 401ks to replace pension programs is a large reason why we are seeing capitalism and democracy decline so quickly. Now the only thing boomers care about is the market and making number go up.
The way I see it the boomers will be the beginning of the systems failure and it will collapse sometime around when Gen X begins retiring.
401ks as a concept are great for the individual when it comes to moving around taxes. Which works out well in retirement when you are theoretically making less money per year. But you are right. As soon as they were introduced they were used to slash real pensions and push the responsibility entirely onto the individual for retirement. If we still had pensions with a 401k/IRA account options retirement would be affordable.
At this point my personal goal is to try and get a piece of land developed with solar and some permaculture to lower my expenses as much as possible so I can maybe one day retire.
At this point my personal goal is to try and get a piece of land developed with solar and some permaculture to lower my expenses as much as possible so I can maybe one day retire.
That’s becoming a popular goal for a lot of younger people tired of the rat race. As someone who’s done some work in agriculture, I would suggest finding some like minded people to do it with you.
There’s a reason farmers had so many kids, it’s back breaking and time consuming labour. It really takes a community to do it properly if you aren’t doing it at an industrial scale and without a ton of pesticides and petrochemical fertilizer.
Oh I’m not doing it at an industrial scale. I want to reduce my costs not replace all costs. I’ll still have my day job, but once I’m retired it will be something to do and keep my costs down.
I keep a simple low tech garden now. Does it produce as much food as it could? No, but the lower investment gives a much better cost return ratio.
And I’m used to back breaking work. A good chunk of my day job is digging holes and hiking through the forest.
I can’t wait to see them all die at work because they can’t extract enough out of us. We’re paid too little for the pension system to work lmao
Most boomers are already retired, it’s gen x and after that’s fucked
Baby boomer covers people from 62-80 and the younger people in that range are tending to retire at 70 instead of 65 to get their maximum benefits.
My parents are in their early 60s and while they just retired, the vast majority of their friends are not, and are not planning to anytime soon. A lot of people in that age bracket don’t want to touch their 401ks when the market is still doing so well. So a lot of baby boomers are still in danger with overexposed portfolios raking in 20% returns.
I think pushing 401ks to replace pension programs is a large reason why we are seeing capitalism and democracy decline so quickly. Now the only thing boomers care about is the market and making number go up.
The way I see it the boomers will be the beginning of the systems failure and it will collapse sometime around when Gen X begins retiring.
401ks as a concept are great for the individual when it comes to moving around taxes. Which works out well in retirement when you are theoretically making less money per year. But you are right. As soon as they were introduced they were used to slash real pensions and push the responsibility entirely onto the individual for retirement. If we still had pensions with a 401k/IRA account options retirement would be affordable.
At this point my personal goal is to try and get a piece of land developed with solar and some permaculture to lower my expenses as much as possible so I can maybe one day retire.
That’s becoming a popular goal for a lot of younger people tired of the rat race. As someone who’s done some work in agriculture, I would suggest finding some like minded people to do it with you.
There’s a reason farmers had so many kids, it’s back breaking and time consuming labour. It really takes a community to do it properly if you aren’t doing it at an industrial scale and without a ton of pesticides and petrochemical fertilizer.
Oh I’m not doing it at an industrial scale. I want to reduce my costs not replace all costs. I’ll still have my day job, but once I’m retired it will be something to do and keep my costs down.
I keep a simple low tech garden now. Does it produce as much food as it could? No, but the lower investment gives a much better cost return ratio.
And I’m used to back breaking work. A good chunk of my day job is digging holes and hiking through the forest.
Medicare is bullshit. Thise fossils made sure we are all screwed when we need not to die. but those old cunts get free healthcare?
Either medicare for all, or for none.