flasher4q
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 18:11:51
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Hey people it's a only a joke if I can't joke about it who can.....I'm not complaining cause I got real good health, no debit ,done and seen the world in the 60's and 70's until I got married and divorced in the 80's ......now have my toys and do what ever I want to do when I want.....Now that I read what tying sounds like barging but it's not .....Too bad more people are not ready to retire when cause of one more to pay off and so on......
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bcavnaugh
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 18:17:42
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bill1024
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 19:12:09
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bcavnaugh
Baby Boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Insufficient preparedness and lack of financial resources for decades without steady employment paint a gloomy picture for many retirees.
Yeah I guess it does.
Life is too short to carry a cheap pocket knife 
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bcavnaugh
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 19:15:51
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bill1024
bcavnaugh
Baby Boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Insufficient preparedness and lack of financial resources for decades without steady employment paint a gloomy picture for many retirees.
Yeah I guess it does.
But you are still working correct? That is you have not yet retired.
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bill1024
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 19:23:25
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bcavnaugh
bill1024
bcavnaugh
Baby Boomers, born between 1946 and 1964, are heading into retirement in droves (about 10,000 a day, in fact). Along with the aging of this iconic cohort come lots of data about their poor preparation for their golden years. Insufficient preparedness and lack of financial resources for decades without steady employment paint a gloomy picture for many retirees.
Yeah I guess it does.
But you are still working correct?
That is you have not yet retired.
No, I retired just before I turned 50 Been retired a while now. Tired, retired and tired again. I started working doing HVAC full time at 16, worked in the Summer and weekends when I was 11 or 12. Family business and all. Worked 2 or three jobs when I got older, worked every bit of OT I could, saved every bit of the OT and 2nd in the bank until I saved enough to open a brokerage account and then invested it. Did the best I could raising a family, married at 19 worked my butt off, saved and invested as much as I could.
Life is too short to carry a cheap pocket knife
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bcavnaugh
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 19:57:00
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Glad to hear are you all set bill1024I think I will wait one more year (3 Year total) to make up my mind if I go back to work or not. As of now I do not plan to, but you never know.
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Nereus
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 21:47:07
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bill1024
No, I retired just before I turned 50 Been retired a while now. Tired, retired and tired again.
I started working doing HVAC full time at 16, worked in the Summer and weekends when I was 11 or 12. Family business and all.
Worked 2 or three jobs when I got older, worked every bit of OT I could, saved every bit of the OT and 2nd in the bank until I saved enough to open a brokerage account and then invested it.
Did the best I could raising a family, married at 19 worked my butt off, saved and invested as much as I could.
Damn.. retired by 50? I wish! I'm almost there already, but I think I'll be stuck working even when I'm tottering around on a walker and waving a finger in the air while calling people 'young whippersnappers'. I used a retirement planner calculator online, and that seems to think that if I retire around 65, we (jointly) will have over $40,000 a month in retirement income. I am sure there is something very very wrong with that retirement calculator, lol, but hey, at least dreams are free! I really don't think Social Security is going to be around too much longer, or at least it will be heavily cut within the next decade or so. Unfortunately it's just going to be too damn bad for people nearing 50 now who have paid into it their whole lives and are likely going to get shafted when they hit 63 or whatever the SS age is. I've started putting 20% of my gross income into retirement savings now, plus my wife has a good 401K, because we can not rely on SS still being there when it comes our turn, despite having paid into it all these years. There's going to be a LOT of extremely angry people when that train finally derails. They need to raise the contribution cap on it if they have any hope of keeping it afloat indefinitely, or at least have a progressively reducing contribution % but with a much higher cap. More likely they'll just keep kicking that can down the road until one day we all wake up and find SS no longer exists, and that no, there are no refunds for your contributions for the last 40 years, sorry!
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kaninja
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Re: A Discussion about Baby Boomers in 2017
2017/01/03 22:04:42
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Social Security will still be around, unless they purposefully kill it, or privatize it.....or both. Currently, if no changes are made to the system, there will start to be a shortfall in disability and old age benefits in 2034. Even then there will be eough funding to pay out 75% - 80% of scheduled benefits. SS isn't going broke, it just needs some tweaking and fine tuning. Unfortunately simple measures to fix the future shortfall will be most likely fought tooth and nail by those that want to kill it or privatize it.
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RiChess
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Re: A Discussion about Baby Boomers in 2017
2017/01/06 21:51:08
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Doubles
RiChess
Wages have flatlined and expenses have skyrocketed. You talk **** to young people still living at home, when housing alone is easily more than a full paycheck. Food? Tack on another few hundred. Phone? Another hundred. Internet? Easily $50+. Car? $100-300. Education? Thousands to tens of thousands. Now do you get how young people have no savings?
Expensive "smartphone" bills and internet bills weren't a thing back then nor are they a necessity now. :p
They are now. Flat out. Granted you could hike to a library or coffee shop to submit job applications, and use a friends land line/a cheap prepaid service to take call backs. But realistically you need internet and a cellphone. Times change and being connected is important. Even discounting job hunting, who doesn't have internet and a cellphone these days? It's basic stuff now, like radio and TV was years ago.
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BF3PRO
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Re: A Discussion about Baby Boomers in 2017
2017/01/08 17:29:17
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bcavnaugh
BF3PRO
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BF3PRO
Cool GTX
There will be a larger shortage of professionals in healthcare like Family Doctors as a lot of them are Boomers.
Boomers are also the last generation to see defined pension plans; seems 401k for the most part, except government jobs.
Being prepared to retire requires planning.
Living below your means and investing for your future is the best way to be prepared. You'll never know just how long you can continue to work, things happen. If you can work and are in good health, putting off taking Social Security until at least your full retirement age can make a big difference in your monthly SS check.
Well... I do believe SS took away an incentive to do any of that man... I hear people getting close to that age "can't wait to draw SS"...
I do not remember the exact amount; but you take like a 7% hit for every year you take it early. So if you are from the take the money early as possible age 62.5 and run ---- if your full retirement age is 66.5 ---- you take a 28% pay Cut ---- better have your own source of income.
Yeah but we're probably in the minority when it comes to knowing this information.
Then now is the Best time for you to start learning this and preparing for your own retirement.
Even if it is still 30 years away and have now Family to take care or still being Single in life.
My First Plan after I was in the US Army was to complete 20 year and then work for the Post Office for 20 years and then have a 40 Year Pension.
But then the Post Office separated from the Government and no more double dipping as they called it back then.
I lucked out very much after I retired from the Military and landed a Salary Based Job at a large Corporate Company that still had a really nice Pension Plan. Sadly they no longer have one.
I agree completely. I'm 22 right now, and my parents are very worried about my future. They're worried that I'm not gonna save enough, or I'm gonna do something stupid. Well, I have backup plans for my backup plans. It's pretty much been forced on me that I have to be successful and work super hard in life. I plan on saving a lot of what I bring home yearly, only spending what I need to live. I have never really planned on having children or finding someone to marry or date this far in life. Hopefully, I'll go into the military after I graduate, but even then that's not something that can last forever.
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bill1024
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Re: A Discussion about Baby Boomers in 2017
2017/01/08 18:47:56
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You will do fine BF3PRO, you seem to have a good head on your shoulders.
Save as much as you can, if your work has a 401K, join in and put in as much as they will match. 100% back on your money right there.
Only advise I can give though, no one on their death bed ever says " I wish I worked harder and spent more time from my family"
So make sure you "Live" you life, not just work and survive.
Everyone can learn from that. Wish I did at a younger age.
Life is too short to carry a cheap pocket knife
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comrade
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Re: A Discussion about Baby Boomers in 2017
2017/01/08 19:50:36
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kaninja
Social Security will still be around, unless they purposefully kill it, or privatize it.....or both. Currently, if no changes are made to the system, there will start to be a shortfall in disability and old age benefits in 2034. Even then there will be eough funding to pay out 75% - 80% of scheduled benefits. SS isn't going broke, it just needs some tweaking and fine tuning. Unfortunately simple measures to fix the future shortfall will be most likely fought tooth and nail by those that want to kill it or privatize it.
Unfortunately..., there are a group of people who have exactly that in mind. They are going to be in power for a while and have been trying to kill these 'socialistic' programs for many years. For a few, it's ideology, but for most it's all about money. They want your Social Security payments under the tender mercies of the hedge fund managers and stock brokers who have wild visions of the fees and profits they could make off of your money. As to Medicare, one of the greatest programs ever devised in this country..., they want that under the control of private insurance and medical groups that can jack up the prices and deny coverage to anyone they want. Now, that sounds rather bleak, but I think they are going to have a harder time achieving their goal than they anticipate. They will almost certainly over reach and they will find themselves beset by senior citizens willing to beat them over their heads with walkers and canes, with good reason. For selfish reasons, I hope they fail miserably. I'm retired and although I have a decent pension and my wife and I have 401k's, it would make things a lot more difficult without Social Security and Medicare. You can do all the planning you want, but sometimes unexpected health issues in the family and other roadblocks can make a mess of your retirement plans.
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comrade
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Re: A Discussion about Baby Boomers in 2017
2017/01/08 19:59:40
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I agree completely. I'm 22 right now, and my parents are very worried about my future. They're worried that I'm not gonna save enough, or I'm gonna do something stupid. Well, I have backup plans for my backup plans. It's pretty much been forced on me that I have to be successful and work super hard in life. I plan on saving a lot of what I bring home yearly, only spending what I need to live. I have never really planned on having children or finding someone to marry or date this far in life. Hopefully, I'll go into the military after I graduate, but even then that's not something that can last forever.
You may not plan on marrying or having children..., but then, most young and single guys usually don't plan those things out. They just sort of happen, and one day you find yourself standing up at the alter in a church, thinking to yourself, "What the hell happened? How did I get into this?" But..., fortuanately it usually works out even though it will usually put a big dent in your plans for the future. My wife and I just had our 40'th wedding anniversay last year and I'm still not sure how it all happened. However..., I wouldn't change it now if I could. I can't imagine life without her and my family! The years have just flown by and seem to go by faster each year. You'll live through it. Just remember..., do whatever she asks you to do and you won't have too many problems. You'll usually find that there is enough left over for a few big boy toys now and then, and family around on the holidays somehow makes all the work worthwhile!
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