Something Terrible is Happening To Boomers
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- Опубліковано 8 чер 2024
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026(A){Thumb}[Edited Sabaree] Something Terrible is Happening To Boomers
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
More reason I enjoy my day to day market decisions is that i'm being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to
talking about coaching, do u consider anyone worthy for recommendations? I have about 80k to taste the waters now that large cap stocks are at a discount... thanks
Annette Marie Holt is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
I am currently burning through my 40s and This is no time to taper retirement savings. I want to max out my retirement funding and I also have another $200k in a savings account that i want to invest in a non-retirement account.Would it be better going to housing? Maybe own property and let it till im ready to move in at 65.
Research dividend aristocrats and choose six to ten firms with over 25 years of dividend payments. Also consider working with an asset-manager to build a strong portfolio.
A good percentage of people do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… now my dreams are getting bigger. Going from ($50k to $600k) is surreal all thanks to insights from a professional.
I thought gains like that are nothing but a pipe dream! mind sharing details of yourmanager please?
I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
People began losing jobs to a younger demographic because corporate greed doesn't want long term employees.
Let's not forget the millions of smaller manufacturing jobs outsourced to China and other Asian nations. That's the reason for so many demanding $25 minimum wage and calling it a living wage is ridiculous. Minimum wage was NEVER meant to be lived on. This is Washington's fault all the way around. Outsourcing and bad trade deals. And those in Washington collecting pensions from people who don't have pensions is CRIMINAL.
I have 30 years experience in the IT field and truncated My resume bc I was facing age discrimination yet recruiters and HR complain that these younger ones can't communicate and do a lousy job. Well, You can't have it both ways.
For sure I went back to school at 39 to become a teacher and they didn't want us older people in the College of Education
They can pay them less, too.
Correct if your born 1960 to 1980 your work career is endless corporate buyouts and downsizing, zero pensions endless crap 401K's. If your born 1945-1959 folks in that era did damn well with pensions. This guy is talking out his ass!
My dad was a boomer. He worked three jobs at times, day, night and weekend jobs. He saved every bit of money he could while other family members said he was being silly. Now, the other family members are poor as dirt in their old age. My dad passed away but my mom lives a comfortable life. She's not wealthy but she's not worried about finances like all of her friends are. Being young and not having everything is manageable. Being old and poor sucks.
I like to say young and broke is an adventure. Old and broke is a disaster. I consider boomers to be one of the worst most selfish and foolish generations ever to exist. They were irresponsible and now they are suffering the consequences. I sleep well at night.
Facts
My dad said getting old sucks
Being old and poor sucks more
IT IS MUCH BETTER to be VOLUNTARILY extremely frugal when one is young rather than suffer circumstantially ENFORCED extreme frugality in old age when one is less nimble, less adaptable than younger folks. Age limits adaptability, limits flexibility.
@@MrCPPGJealous much?😅
@@MrCPPG You mad Sis?
I grew up in extreme poverty, going without food and electricity at times, I became homeless at 17 dropped out of school to work menial jobs to EAT. Early life set me up to be frugal, own my house, drive a 21 yr old truck, have about 900k in savings, I’m 58 now and retired at 56
Are you serious everyone is working jobs to eat. Right now a menial job cant pay enough for food. Get over it
@@lessar2721 I believe you missed the context of my story, have a good day! 😎
Kudos bro. You did better than most. High 5
Hmm. All my life pay into ss and for what? It'll be gone by time I would be eligible....10 years he says. I'm 46. 😢
@@user-bu4fh5yq8i thank you! S.S. Will be there for you 100% Politicians won’t even discuss it till the final hour….. mark my words…. They will raise the tax on both employers and employees by .5% and that fixes it in today’s numbers….Or they simply raise the age AGAIN! that’s another topic
Debt free. Good health. Minimal expenses. Thats a good place to be.
Lucky guy!
Maybe those should be the three legs of retirement. Agree
BINGO
Good health isn't always under the control of the individual. The rest is. The bottom like is, live on less than you make.
Live like there is a tomorrow. If there isn't, well, you still lived well. If there is, tomorrow, will be a lot better with money than without. The chances of living long enough to retire with money is a lot higher than the chances of retiring with no money.
You and me both.. A little saved also.... Going to retire from on job in 2 months and start an easier full time job then... why? because I want to, not because I have too..
In my opinion if you have a paid off house with no car payment you should be spending far less than $4,000 a month in retirement if you are a single person.
Precisely
Taxes, are an expense I never thought would have grown so high.
Property taxes are quite high here in Texas.
I have a son, a car payment, and a mortgage. I average $3K in expenses per month.
@@SWelosishereor what may happen in November.
Divorce is a retirement killer. I know people who were married and divorced three times. Not good for finances.
Ain't that the truth. I know friends who had to work 10 years longer because the divorce sent them backwards financially.
Another thing that is a killer is house hopping. “Upgrading” every few years is a fools choice too.
@@markdavis1116 Yes, almost did that because my husband wanted to live in a 1 story house because he was afraid of climbing the stairs as we age. I told him we could buy a stair lift if this happens He is 66. Our 2 story 2550 square foot home was purchased in 2001 for $156,500. My husband wanted to move an hour outside of Houston to a master planned community. A 2450 square foot one story new construction house is Over $450,000 not including upgrades like blinds or ceiling fans. Our house is closer in town and paid for. Our current home value is about $330,000 after we spend 15 grand to upgrade the old carpet to vinyl plank. And we decided to stay. Please don’t be mad at us Boomers who stay in their own homes as they age. If we all had some sense a lot of us empty nesters could rent out rooms to half our house and save money for young families who cannot afford to rent an extra 3 bed rooms and to help the Boomers with paid for houses pay for electricity and taxes.
Better move to New Orleans, then…..
You never get divorced, you just lose your turn….. 🫵🏼😁
Yeah, and let's face it. If you had kids, got divorced, got remarried, and then treated your new girlfriend/wife's children better than your own. Your kids are not going to be moving you into the $2,000/mo 2bedroom rental that 2 families share.
I have sadly watched many fathers, and some mothers, treat their step-kids better than their own.
As a Boomer (age 71), I learned from my parents to be careful with money. They were terrible examples, borrowing money to take fancy vacations and buy new cars every 3 years. Many people in that generation thought that appearing to be successful was the key to life. What ridiculous BS. A lot of Boomers replicated their parents mistakes.
Sounds like you learned this in SPITE of your parents! Did someone in your life other than them, set an example for you or teach you how to be careful?
@@yellowbird5411 No, he learned from his parents' mistakes not to replicate them. I did the same. Parents smoked, I never did. Parents lived paycheck to paycheck with bill collectors hounding them, I was the exact opposite. You learn from others mistakes and hopefully make a better life for yourself.
@@buffycat4641 I guess we can learn from others' mistakes, or learn from others who are our role models. Alternatively, we can choose to cut our own path and not learn at all from anyone. Free will is a wonderful thing, because then we can learn from our own mistakes. Maybe. : )
Most of the generation who preceded the baby boomers were frugal and afraid of running out of money,grew up during the Great Depression and then the World War II a few of them were born early enough to have seen the "Roaring Twenties" as young children before the market crashes and bank failures ushered in the Depression
@@davidpowell3347 Agreed. My parents were born before the Great Depression of the 1930s, so I got a lot of info from them and my grand parents about what life was
like back then. Having an appreciation for history, I soon learned that history tends to run in cycles, so it was reasonable to assume that recessions and depressions
also followed this pattern. This caused me to become quite frugal in life, saving much more than average, and then learning how to manage money and invest it. I did
this from reading books, magazines, newspapers, and anything else I could get my hands on about personal finance. Because of that I became my own financial
advisor, made a few mistakes early on and learned from them, and went on to become reasonably good at money management. Because of that, retired comfortably
at age 55 in 2004. Been enjoying retirement ever since. My 401k plan money was rolled into a T-IRA that has been a fair approximation of a perpetual motion money
machine. I never planned on receiving anything from SS, thinking that the US Gov would find a way to mess it up. Took benefits early at age 62 for that same reason.
It's still around, for now, but it's being drained faster than money is coming into it. I took benefits early and invested some and lived on some. I have few regrets about
how I have handled my money. But the level of financial education in the US is abysmal. Way too many young people can't do even simple math, let alone manage
their money to their advantage. Some of them will learn because hardship can be an excellent teacher. The rest? Pretty much screwed.
"My mother lives with my sister--and it's a wonderful situation!"
Uh huh.
Said the brother who is _not_ living with his mother.
Truth!
That's what I was thinking 🤔
I am 74, retired at 57, travel often and I am doing very well.
I came from nothing, and never was a big hitter. I just planned well .
Retirement at 57 is impressive. Congrats.
Good for you, go get a cookie. Do you have anything to offer on how you did it??
@@SWelosishereplease share your insight
Excellent!
@@SWelosishere Lemme guess, gloom and doom?
This Boomer was very fortunate - Started planning 30+ years ago, lived well below our means, planned for both normal and "surprise" expenses, and, up to this point, it has served us well.
Same here, 63 now, retired at 60. Wife is “next generation” born 1966, she retires next year at 59.5. … I was fortunate I could go on her insurance or I’d have stayed longer.
I still run a small business and work anyway for fun
We’re fine
Same here. Born in 1962, started saving in my 20s and am retiring soon at age 62. I have lived simply, below my means, am a minimalist and do not carry any credit. That formula has worked probably because my parents and grandparents did this too and had something to pass on to their kids and grandkids.
5 minutes of brain is better than 300 months of catching up.
Hats off to you sir.
Same here. Lived within my means throughout my life and saved my money, I invested wisely and now a blue collar millionaire. Still mow the lawn every two weeks though 😊
@@Dimythios ha ha I mow mine every week, that is my “day off”
Other days running and coordinating painting jobs and landscaping jobs.
25-35 an hour .. good money, keeps me active .. take on more jobs in the summer as I hire few younger friends that are teachers.
The problem was corporations ended pensions as boomers were 10-20 years into the workforce. So when they started pensions were a thing and corporations all got rid of them and replaced them with 401-k.
Absolutely right. When I entered the workforce (50+ years ago) there were defined-benefit pensions which were later replaced by defined-contribution pensions. Gen Z thinks it's unique because it thinks it was shafted and, heck!, they've only begun their lives. They've been so pampered they want to give up too easily.
Pensions ended many generations ago in many industries and families. My last direct relative that had a pension retired in 1948. Another relative An uncle got 18 bucks a month pension from General Motors from his 1950s tenure there.
I worked at a place in 1979 that had a pension plan. BUT you only became vested if worked there 10 years. During giant layoffs in 1983 great folks with 9 years 10 months were fired to kill off the pension liability.
While at that place for 4 years the California tax board would not allow deduction of an IRA on state tax since worked for a place that had a pension.
So when I put 2000 in an ira in 1983 California only allowed 1500 since calif law. Then 3 years later I had to pay California taxes plus penalties plus interest on 2 years disallowed ira deductions.
The California tax folks said I could since not vested. Then 3 years later has to pay like 550 bucks since they changed their stance. So really a company could say you have to be there 500 years and nobody is ever vested so California won't allow ira deductions
Actually the only folks I know who have Pensions are government retires. Maybe the telephone company or power company too.
Personal Finance should be one of the number 1 things they teach in High School. It should TOWER way over sports, art, and other courses.
Do you know there are inner city kids, that live with parents that have never had a bank account? Or a credit card? True. They pay their bills with money orders. True.
Their children aren't learning finance from their parents. So there should be Personal Finance Courses taught in our schools for these kids. I'm speaking from experience...I got my first credit card at 32 with a $250 Spending limit. Nobody would give me credit until 32. I worked and got $5,000 in my checking account...and I applied at the bank where I had that checking account for a credit card....they gave me a credit card with a $250 spending limit because I had no credit history...Should have happened 14 years earlier but it didn't.
Anyway...back to my point...Personal Finance should be a TOP course taught in High School and College.
Family responsibility.
It was taught in grade school in Indiana; those were math problems.
Worked in the school cafeteria from 4th to 6th grade to get a free lunch. ie pocketed the 1.50 bucks a week for the 5 meals. Had depression era parents. ingrained pitching pennies to survive. Sold Peanuts door to door in 2nd Grade. Sold Xmas cards door to door from 4th to 6th Grade. Mowed yards for 1 to 1.5 bucks a yard from 7th to 9th grade.
That 4th Grade Frozen giant OJ cans we opened and mixed OJ in the cafeteria was expired Civil Defense supplies. They donated it to the schools so not wasted. The trays we cleaned and dumped the edible parts went into a trash cans a local pig/hog farmer got. That entire cafeteria working was about thrift.
That grade school did not have electric clocks. It had pneumatic powered clocks. the minute hand moved with the pressure pulse from the master clock via tubes. Ours made the minute had move 1.5 minutes each time; so 40 per hour. The minute hand sort of had a slight backwards lurch / twitch before moving the 1.5 minutes. So when bored in say English class and looking at the clock it was not moving.
Most kids wouldn’t listen. Very few are ready for the information until they actually have to pay their own expenses.
Even more important, kids should be taught about NEEDS and wants. How to resist advertising, influencer misinformation and budgeting.
Works except in recessions, which cycle every 10 years.
Start financial planning for your retirement the first day you start work. The Govt won’t take care of you.
The first year I started full time work the government raised the SS tax, raised the full retirement age and decided it was a good idea to tax SS benefits to save Social Security.
42 years later and here we are.
The federal government administers my Railroad Retirement pension.
The government will help you if you're a giant corporation or a bank. Golden parachute!!!
I was divorced in 1998, my business went through 2 nasty recessions in mid 70’s and early 80’s and another recession in the 1991. I had very little savings and small Social Security amount. I know others like me, many are women. So please be aware that not all the Boomers had big savings.
Your not alone am with you on this am 65 and poor
I appreciate your post, tks. It's just so odd people who lived during relative abundants now in retirement are so fiscally devastated
Hi Azul Thanks for a very informative and down to earth video ,you explained a lot of things in good layman's language I will look for more of your video's .Regards Chris (England )75years young .👍😁
The biggest issues is the insane price of pharmaceutical and insurance
If you qualify for Medicare you will realize how sweet life is...
And tricked out F150's.
If you're in your 20's, the biggest issue is housing and food.
I'm a boomer and had to overcome a broken marriage and alcoholism before I could get my life on track. When I was 40 I started in my own businesses making and installing air conditioning ductwork. It was hard work and long hours but the rewards were there, and I ended up owning 2 houses and a good amount of savings to get me and my wife through retirement. People today have given up of looking after themselves and sit around watching social media rather than planning and improving their lifestyles and have their hand out to social welfare. If you work you can get ahead, if you work hard you can do even better.
And those of us who are NOT alcoholics do even better. I am 74 and living happily in New York City, with the character to never have been an alcoholic.
My marriage broke up at 40yrs, managed to have enough to pay a deposit on another house. But ended up being a solo dad of two and also paying support for the ex and for one child, so I was on the bones of my arse for ten years. Also, I have had to bail my kids out of financial trouble several times. But saved hard for the last 10yrs to enjoy my old age.
People asked, why are you single. I tell them, women are a luxury which I cannot afford. Now retired have my hobbies and toys, and travel o/seas for a couple of months a year, having a ball.
So sad to hear that! As being a female you and taking care of men rather than they of me, I can say that there are the other kind of women there as well.
I am single because men cost me too much. Now I am debt free, healthy and paid off house in the mountains. Retired for 8 years. If I was in a relationship I wouldn't be so well off.
Born 1946. Self-employed until age 60. Worked minimum wage until 72. Lots of $15/hr jobs out there now. Real estate saved my butt. Took SS at age 70. Wish that I could still work part time now. Some in there 80's still working. Troubled by national debt that my child and grand children will inherit.
And great great grandchildren
It's terrible what is happening in this economy. Wages are not keeping up with inflation. Can't afford to buy a house, can't afford to buy a car, can't afford furniture for my over-priced apartment. We have no debt; no car payment and we are struggling paying for basic expenses. I told my husband that our next vehicle might be our future home on wheels. In Arizona summer heat, it could be deadly. I just pray we don't end up homeless.
Move to Oregon, lots of work and some places cheap rent, and on the coast no air con needed!
It's a shame our zionists controlled government sending billions of $ to Ukraine and apartheid israHell while Americans are struggling.
Northern AZ only & you’d be okay… Flagstaff & further north.
I retired at 69, and knew that I would have a very retrained and quiet lifestyle thereafter.
I planned for that, fiscally, and don't regret it. Try hard to keep a hold on your money while you work.
I remember my Father telling me at 19…Son you want today what your mother and I worked 30 years for…get another job and get OUT OF DEBT! Sound advice! Pass it on! Blessings…
Very wise Father, lucky you
A lot of the trouble some people have comes from just plain greed and trying to "keep up with the Jones." (They use to call it that!)
I know a lot of Boomers who re-mortgaged their houses to buy new cars, take lavish vacations, remodel perfectly nice homes, etc. Boomers insisted on SUVs instead of the trend toward fuel efficiency that we were on in the 70s. So many boomers live in huge, over-mortgated houses. It's all stupid. I am an older GenXer. My sister & I bought land, built small houses & payed off the land while driving old vehicles, used furniture, and thrift store clothes. We learned from my dad, a Boomer who worked hard & lived debt free
At 73 yo I've lived debt free all my life. And during some of that time I lived on a pittance.
My Toyota Gas RAV can pull 40 mpg
I did the same thing , lived with in my means. My 15 yr old Prius ( 49 mpg 😊 )
I witnessed the same thing throughout our young working life. Some people spent money like it was going out of style and there was no tomorrow. Had to have the very best and most expensive things to crow about at their next dinner party. I have no use for that crap so needless to say I didn't go to many dinner parties. Shallow status seekers, and have all been divorced and don't have much to show now! Sad in a way, but Karma's a bitch sometimes!
That's insane. I'm a Boomer (age 66) and my parents were Great Depresson-WW2 folks. They taught me to save since the time I could walk. They also taught me to be frugal. I retired at age 62 with 3 IRAs, Soc. Sec., a taxable account, high yield savings account with a large emergency fund, a small pension, a paid off house, no debt, massive monthly dividend accounts, and a part time job. I'm not wealthy, but a formal financial analysis shows I can survive to 91 even with a 40% hit on my investments. I can't believe people in my generation have zero saved. I'm still saving even though my advisor says I should spend more.
You and millions others. I am same as you, My parents taught me to save no matter how hard times were. They lived thru the Depression. They knew hard times. Passed those values to me.
Me three. How could I fail with parents that preached avoiding debt, saving and investing. The super power to life is parents that teach truth.
Yeah, I'm thinking the same thing, and I'm not even one of the frugal and prone to save people. I'm just a regular Joe and it seems I have more saved than the vast majority of Americans.
The 2008 Depression thru Baby Boomers in the streets and wiped out their retirement savings. Don't you remember?
Ditto, except the age (71).
Almost everyone I know has an emergency fund, they call it a credit card 🤔
CC is a get INTO jail card. Or more appropriately debtor prison card. 18-22% interest adds up very fast and digs a deep hole.
Actually I am fan of velocity banking to most quickly pay down loans..also 0% balance transfer credit cards.. It doesn't do much good for me to read what other people have done over the last decades as a couple... I like the channels above velocity banking because it gives me the tool to handle things right now as a widow
@@JBoy340ako
Rack up CC debt, enjoy shopping enjoy life, never intended to pay off debt, get it written off at some point, then start a new card👍. I think that's the plan for many.
lol, , I pay off my CC each month, but increase my credit limit every 5 years or so. by 10 K. Now I have 100 K credit . A savety net if things go south. Or maybe use it to pay off my medicals bill right before I die, but die before I can write a check to the CC company.
So glad we the taxpayers in the US are helping to contribute to pensions in the Ukraine. Also glad we are giving so much to illegals and people who served our country are homeless.
Also Don't forget for 70 yrs the u.s. clueless government under the zionists pressure has sent trillions to apartheid israHell.
Many may not see your sarcasm! but from me right on!
Democrats help the People. Republicans help the Wealthy. Since 2016 their wealth has doubled. The Wealthy take everything.
@@russshaber8071How? Do you know how much we pay for gas now? How about your grocery bill? How about the cost of a beginner house?
@@russshaber8071 you are using a line of thinking that is 25 years old. The Democrats are the party of the elite and the fact that you don’t realize that is frightening.
FYI: Generation Jones = 1955 to 1964. Boomers were listening to folk music and living spoilt lives. My generation was already seeing jobs going overseas en masse and realizing there was no American Dream
The American Dream is alive and well, you just have to prepare yourself for it.
@@buffycat4641 Yes, it is, but there IS a catch to it. One has to WORK long and hard to achieve it.
There is a millennial who lives down the street. She got the trailer house/Mobile home when her mom died. She has two kids in their early 20s still living at home. They’re living there not because of the economy. They’re living there because they’re worthless. One is on welfare from having a baby out of wedlock and the other one might work 30 hours a week and then he spends the rest of the time playing video games. Can’t even get his worthless butt outside to mow and weed-eat.
@@KAT-dg6elwaiting for their inheritance.
It's called a dream as you have to be asleep to believe it.
I am a boomer in my seventies. I have seen what past generations had for retirement and nothing really has changed. Pensions have always been rare and most people do not have one. Most people relied on Social Security. I had a good job with a generous pension and that was one of the reasons I choice that municipality Utility to work for. Made sacrifices to save and invest. Some people just do not make enough money to save much , even with sacrifices. Worked plenty of overtime hours which has beefed up my Social Security benefit. A lot of my relatives have not done what I did and I help them as I can. Yes it is a problem but not a new problem. The best thing we could do is beef up Social Security for the poorer retirees. It would not take much more increase of the tax to do that. We can as a society do this, it is very affordable . Social Security consumes about 4.8 % of the national GDP a little bit more would be enough to fix this. It is about what is important to us. BTW I am a fairly well off retiree and this past Monday cut up a large tree that fell in my yard and moved it to my back yard to burn eventually, (Fit). About the total opposite of the picture you painted. There have always been retirees like me too.
Cut down a 50ft tree of heaven myself and burned in my wood stove for 4 years of heat. It had crushed my sewer line.
The absolute key to financial well being is to avoid debt like a plague. It is EASY to get into debt and very difficult to get out. I'm 82 years old living a very modest life, but I haven't had a car payment in over fifty years and have always paid off my credit card at the end of the month. To the credit card company, I'm a deadbeat because they don't get ANY money from me. Living within our means simply makes sense. If I can't afford it I don't buy it.
Really glad that in Australia we have compulsory superannuation so I’ve now retired comfortably at 60.
My husband had the same where he worked. It wasn't a choice, it was automatically deducted from your pay before you saw your wages. I think a big part of retirement success is DON'T spend your young working years running up debt!! If you can't pay for things on your wages do not expect to have them! Learn to do without the frills. Face the fact that if you are not born a Rockefeller or Hilton, and the like, then you are ordinary working folks. And that is just fine! Live accordingly.
Yes me too. It helps that we don’t have medical debt, USA sucks if you’re not rich!
Not everyone can land a job that pays $50/hour. Then there are way too many things that can eat up your retirement. Go figure.
Like INFLATION....
From the time I was 30 until I was 70, my friends took a very different direction than me. They bought boats, two+houses, cars, lake houses etc. Today, they are scratching their heads wondering what happened. I worked two jobs, brought lunch everyday, saved before I spent and lived below my means. My wife and I get $15000 a month for the rest of our lives because of 50 years of sacrificing, scratching and saving.
So you worked till 70? And have $15k in retirement income? You worked WAY too many years! I'd have to really be pissing money away to burn through $15k/month.
You are so special.
"Compounded interest is the eighth wonder of the world." ~Albert Einstein
@@hogroamer260 Read again, and again, until you realize what he said.
@airthrowDBT Read MY comment again and again. "?" at the end of a sentence, indicates a question .
I've been an apartment dweller ever since I lost my house in 08. My daughter asked me if I wanted to move in with her about 10 years ago. So I have been paying my daughter rent instead of some joeshmoe it helps her out and I get to help her out with her kids she helps me with my money because she can save a dime to last a week I can't save a dollar to last a day lol
Best of luck. That crash took a lot of folks out.
solid family are a great parachute
I was married to a non saver who grew up with non savers. It’s how you were raised. Once I divorced I was able to control my life. High yield USBonds, 401Ks and moved out of California to a state with lower cost of living. Worked for forty years.
No mortgage, no car payments, early forced retirement due to mother’s cancer and dementia. My social security puts me in poverty level. I got cancer and would have been wiped out if I was above poverty level. Luck is what happens along with being frugal. Don’t spend more than you take in.
fortunately I do have a pension, when I was 24 I realized a pension was the way to go so I went federal gov, 40 years later ( I bought back my military time) I have a great pension, plus SS and tsp/IRA and no debt, wife also has a small fed pension + SS
Terrible? As a boomer myself, I say it is karma. We voted for it. Now, some of us will pay for it.
Welcome to America.
Voted for what?
@@katydid2877 What, were you sleeping under a rock for the last 40+ years Rip?
@@billwhitis9997 How did what I voted for create old poor people? There are rich old people, too. Did I vote for that?
Voted for what?
Most of us voted for 3 Middle East peace treaties, no wars, 1.2% inflation, a secure border and energy independence and cheap gas and food. I'm 68 retired for 5 years and fortunately only thing I inherited was the knowledge to work hard and save.
You have boomers mixed up with the young generation of voters voting for free stuff.
So you voted for Biden?
My 72 year old sister, bright enough to be a successful fraud analyst for a major U.S. bank for years, mismanaged her assets and income for 30 years. She remains in one of the highest living cost areas in the country for social reasons. She works 24 to 32 hours a week at Safeway as a cashier, with no plan for retiring soon.
She probably kept up with the joneses. Spending to be one of the people living the dream. Help and love your sister. Money is not important.
I was talking with a couple recently about aging. After complaining about the older generation's expectations in terms of support, they turned around and said they told their kids they need to figure out "who gets mom and dad". I thought that was so so sad. Yes, let's burden the kids -- who will be growing up in a dying empire and struggling to navigate an incredibly difficult economy. Yes, which of THEM gets to take on the burden of supporting you.
Man up.
Seriously. Did you have kids to support you? Is that what that was all about? I didn't do that. I don't expect anything back from my kids. They have ENOUGH to deal with of their own accord.
I can't speak for anyone else, in my case, my employer miss managed our co. Which our 401k were 100% divested in. Well, after 25+ of contributing to my 401k, id amassed about 150k, then the company got into finance trouble, and everyone lost their 401ks which were based on the stock. Now, after starting over I have 50k and im approaching the end of my ability work.
*hit happens!
Something good is also happening. Just retired at 64 and fortunately planned this well. Getting ready to hit the highways and skyways for the next 5 -10 years. Will see what's up with SS in 10 years but not worrying about it.
Are dollar is debased. Let's cut the pie in the sky nonsense.
Born 1961. After what I have gone thru past 4 years I am surprised I am not homeless. Lost tens of thousands dollars in Stock Market (suppose to be my retirement), sister stole all money in Grandmothers Death Will (I was Att Exec) 2011 Motorcycle accident from intoxicated female driver, hit asphalt at 70 MPH wearing t shirt jeans and tennis shoes, skinned alive but lived. 2021 Health issues with Candida and lost 100 lbs in a few months. I can go on and on..........................But, the commander in chief is doing this to me for a reason (got my 1st vision at age 6 that saved my Life, there is a reason why I am still alive), where I live countless scandal, corruption and deception against my personal behalf, having to go to Court over Lies (sound familiar). Anybody that would have gone thru what I have would have committed suicide a long time ago.
Am left gasping by your story!
The number of people on govt payments, the number of people wiped out by divorce, and those in low income jobs who lived paycheck to paycheck should be about 50%.
That's me! 2 divorces hit me hard, but I'm grateful I'm doing better than the 50% mentioned. Working on being debt free!
I'm a boomer, lived fairly frugally, gave generously and earned a very high income. No way a guy like me could fail at retirement. But you have to be gifted or lucky to be a high earner. Most people can't do that. I was lucky.
It is very commendable that you appreciate your luck. Few are so honest. And those that aren't are never happy, either.
thanks for saying that, yes some of us got lucky, but when your ship comes in you better have the line to tie it up!!!
"something terrible is happening to boomers" and anyone else who fails to plan, save, and invest. those who fail to impose financial sacrifice upon themselves eventually have financial sacrifice imposed upon them.
Exactly, these are the people who voted for no government, no unions and every man for himself. If you want all of those things, you better be saving and investing.
Happens to every generation. What is discouraging is some work hard to obtain security in old age while others figure out a way to get govt. benefits in some claim of disability. Some folks deserve the extra income but I've seen a few who were milking it.
Oh BS , they base how much your SS will be according to your income from 40 years ago and that is why SS is so low as well as pensions! They knew baby boomers were coming and they used SS and invested it and never put it back! All of these people on here that think they are so superior because they saved money is arrogant and rude! I am a nurse and the elderly are suffering in this country, especially women that took time off to raise children, they are being punished for it in their old age! This country should be ashamed and someday the powers. of the wicked will be mowed down like a blade of grass!
Oh yeah, like the 2008 Depression that thru all the Baby Boomers out of work never to find another decent job again??? Who "imposed" that? Bill Clinton and George Bush! Glass Steagall anyone?
The thing about it is, I don’t have access to jobs which pay enough for me to even maintain my cheap 7 year old ford, much less save and invest. I skip meals, wear rags, never go out. The whole idea people refuse to accept is civilization is collapsing
The retirement stool has become the retirement unicycle. Good luck keeping your balance.
Pogo stick 😂
@@markjonz lol
Just retired. Took all savings. Retirement etc. And paid for house, room to farm cars etc.
No saving, no debt. Living on ss and I save some of that. It's not saving, it's debt
I partially agree. Debt is a killer. If you and a spouse can live on SS, then both of you must have maxed it. My wife likes travel with her friends. I go to my deer lease at least once a month. We both do short trips to the country together. But need more than just SS. Fortunately, we have some investments to help.
@Attalla2023, I agree with you. Debt or credit card debt or any kind of debt (accumulated) while on a fixed retirement income is not a good strategy.
I retired early due to the forced injection. Nobody wants to talk about that elephant. Thank you government, I’m enjoying a responsible lifestyle. My biggest concerns are inflation gobbling up all my savings and insane health care costs.
I retired in 2009 and I’ll gladly talk about the elephant…got all my injections (and every booster since). I suffered nothing worse than a sore arm. I haven’t had covid….sorry you got conned into retiring early by all this anti vax nonsense…you have no one to “thank” but yourself…
Hopefully, that forced injection 💉 did not cause you an adverse reaction that forced your early retirement. If you were forced to retire because of noncompliance with the mandated injection, you made a wise decision imo.
A good share of union labor still has pensions.
I am a baby boomer. I watch younger people around me spend money frivolously ( in my opinion) . Expensive hair and nails , new cars , putting trips they cant afford on credit cards , shopping for recreation, Starbucks everyday...
The list goes on and on. I worry for them. Itll be even tougher than it is now in 50 years when they try to retire.
I'm a boomer (with zero debt and a net worth approaching $14 million), and I also observe how freely younger generations spend money. Instead of living frugally, saving and investing like my fellow boomers and I did, younger generations spend a lot of their money on luxuries that we boomers never would have wasted money on.
Starbucks isn't a big expense. It is only when you can't save money.
To be honest, people after Gen X can't buy houses, can't go to college, can't afford children. So why not just spend on frivolities ? Are you going to deny them even that ? Boomers enjoyed all those things denied to people after Gen X. Are you so misery in your assessment of people who didn't have it as good as you ?
@@timothykeith1367 I agree
@@timothykeith1367 It’s an unnecessary expense when you buy one every day and you don’t really have the money to be doing that. You can make coffee at home.
Each generation hating on the other generations is yet another example of the divisive culture we currently live in. It serves no one.
All generations have made big mistakes, often propelled by macro economic forces and consistently poor government. The internet has given us alternative information, so we should now at least be better informed, in theory.
And our loyal (sarcasm) representatives in Congress decided to give SS to criminal invaders as well as medicare.
Yes and I'm totally pissed about it too!!!!!! We know of a family that came to this country and in two years got SS disability .more than three times what we get and we did crappy jobs for over 40 years
I always lived below my means. Second hand car, small house, rare vacations. So now i have enough to retire. Those that blew their money are now seeing the repercussions.......
And you reused toilet paper 🧻👍
I know guys in that situation and they blow what extra money they have in a casino, at a racetrack or on lottery tickets.
@@keithss67 Toilet paper? We used big maple leaves.
@@MrCPPG as opposed to hundred dollar bills
You should have upscaled to a grander house in a more desirable neighbourhood and then being able to down size then having the increase profit of the last 25 years to invest and live off.
Real Estate market "doing well" is a double edge sword that is an expense rather than a benefit for many
He never heard of the housing crash during Obama years..
I can speak from experience…no corporate pensions, layoffs, contract work, loss of pay between contracts, cost of living and housing increases to list a few of the issues that has plagued boomers in reference to having no retirement funds!
Taxes and inflation are the number one problem.
Personal income tax did exist before 1920, and did not get confuscatory until the 1960s.
If we stopped running a war machine this country could give it's people great healthcare at little to no cost. People living on the streets could have a room with a shower and food. That's the least we can do. And don't come at me. I have saved well, I don't need help.
Good comment.
Why we should get out of NATO, they have free healthcare because Americans pay for their defense.
What? And destroy Reagan's legacy for America? Think of the poor investors at G.E, Lockheed, Boeing and so on. Oh, the humanity!!!
Have you looked around the world ? That big stick America carries is what allows you to " not need help ". That said, we involve ourselves in plenty of wars we shouldn't.
America can't and shouldn't give every body every thing free, because nothing is free .
It always comes at a cost to someone.
What we should be doing is providing everyone with the oppurtunity to succeed.
That is the governments responsibility, and they fail at it miserably.
Sadly, many people are happy just running in place .
@@davidbrayshaw3529 😂🤣😂🤣😂🤣
I'm a boomer, I have money. Because I worked 2 jobs for 35 years. Lived off one income and invested the other income. It's your own fault if you have no money to retire on.
@@Jj-gi2uv Vanguards VGT. Its been crapping cash for 20 years! Get with it man!
Not a boomer but George Carlin was right about boomers
Agree that living a carefree life with one's money seldom works well. Lack thereof in one's retirement years is pretty much a self-inflicted wound. I understand that there are a lot of people who barely scrape by financially. My grand parents were in such a position. They were poorly educated, very hard working, and always seemed to have a job somewhere.
Most of their jobs didn't pay very well but one can make do on a lower income IF one plans carefully. I never worked 2 jobs but my wife and I both had decent careers and made
decent money. Managing that led to an early and comfortable retirement for both of us. I owe a lot of this to my mom, a very good self-taught money manager. Her rules were
simple and effective: 1) work hard at whatever you do; 2) save religiously; 3) invest wisely; and 4) spend very carefully. To this I added: 5) find a great spouse and stay with them
for life. At age 74, so far, so good. 🙂
@@AzzekaTheRealOne Carlin has been dead for 16 years, what does he know?
@@billcarlson1730 More than you and Mark Twain.
1 medical problem and any savings is wiped out.
Inflation high cost of everything we wait in line behind people who don’t belong and you know who☹️
I was planning to work until 70 because I liked my job as a nurse and did not want to be poor like when I was a child. Unfortunately and unplanned my autoimmune disease disabled me at 60. Fortunately my mother worked until 78 as a legal secretary, she left me enough to survive due to her working until she was almost dead at 80 so her working an extra 13 years saved me from poverty being her only child. My dad was a bum and left nothing.
Stayed single?
Iucky you were the "only child"!
Gray divorce can put both partners in a financial straight.
Very true
No man should marry under no fault divorce.
_Living_ _Apart_ _Together_ is an option for those who remarry here. Most men tend to remarry; e.g. of the rich Bezos, Musk.
The women statistically not so much if grand-kids come into the mix from their children.
You see men heading to the Philippines, Thailand to go behave like saviours in South East Asia.
She took the house I kept my pension. My inheritance produced a house. Now she's mad.
So sad. So many retirees are not prepared to retired. They will have to work and most vote against safety nets.
I am 72 years old and have noticed that more than a few elderly people who were set in retirement are being bankrupted by some of the same hedge and investor funds that offshored and liquidated our US manufacturing capibility.
Greed is why ?
Exactly. Globalists.
If they're being wiped out by hedge funds, or anything like that, they haven't invested wisely. Only a fool would invest in a Madoff-like scam.
@@kwilliams2239 AND KEEP INVESTING IN SAME THING.
LAZY OR STUPID IS ONE THING BUT LAZY and STUPID IS ANOTHER.
@@xyz987123abc There is nothing wrong with index funds, exchange traded funds, or target date funds, with a low/no cost brokerage (Schwab, Fidelity. or Vanguard). The target-date fund being the best choice for retirement accounts. The slow and steady tortoise will beat the hare, nine times out of ten. The money will be there ten times out of ten.
Azul very informative video as always. My wife and I have been RV'er for almost 20 years, part time only, in the last 7-10 years we have noticed a large increase of people living in RV's full time, many older, single and especially women, many out of necessity. But I have also met many people in their peak earning years, 30-40 who are living in what they call "adventure vans" encouraged by UA-cam influencers, some are working part time as "remote workers" but I think these folks are taking a big risk in not working "as hard as you can-making as much as you can, while you can" and will regret "living the good life" too soon.
right on! we've seen exactly that and when they get old they will tell a tale of woe about how hard they worked and still have nothing.
Theyre already retired before retirement.
We got our wake up call in 1993, and started doing annual family Net Worth Statements. This kept us on track, by seeing our debts, and our real estate values along with retirement accounts. This has been the most powerful tool, and you can't hide the facts from yourself. We are doing fine now, but take it year by year.
Your kids can drain your savings with all kinds of "emergencies"!!! That's where all my retirement funds went. And now I'm alone and never get a phone call or any help!!! 😢
Gee…. Don’t allow ‘lifestyle creep”, Spend 15% less than you earn and invest the rest starting now later than age 27. Everyone can do this. If you have the will. Today. 30 years ago. And 30 years from now.
The retired early because of age discrimination. I know professional who once they hit late 50s the best job they could get were delivery drivers.
They can always check receipts at Walmart.
50% of homelessness is drug addiction, decriminalization, doctor, percription and chemist shop. in a legal environment. Crime will reduce by 50%
Increased housing costs are nobody's boon. The higher prices do not create equity. the large sale prices don't create wealth for the homeowner when that person must now buy a new home. Your home is a nest egg, not for you, but whoever inherits it after you've kicked the bucket.
61 and doin great....Boys....watch out for the golddiggers ....
Especially now in a Recession/ Depression
Women, watch out for the gold diggers
I’m happy to see someone else knows what is about to happen or happening. Women will be giving it away just for a place to stay in short time.
@@lisa408t only date, don't marry. Protect what you have.
Get yourself a passport buddy! 😂
@@glendacastillo6504 of course! Lol
66 yo Boomer and small business owner here. Last year saw historically high earnings for me. This year will probably equal that profitability if consumers continue to spend like drunken sailors. I plan to semi-retire at age 70 and start collecting social security. That is IF the economy keeps going strong. I've been saving like a pack-rat for years and it paid off. Owning a business is full of risk and reward. It isn't for the faint-hearted.
70 in two months. I'm winding down a small business with less than 20% of the work I had when I made the decision 6 months. It'll probably take a year to all be finished. Regretting a bit waiting so long. My attitude was I would work til I died. Caught Covid and then a few extra problems and decided I should retire to do things. With less work and playing more I have found that my physical stamina isn't what I want it to be to do the things I want to do. Hey, I walk two miles 5-6 times a week, but getting older is resulting in loss of mobility/elasticity and it sucks. If you have the money, retire ASAP!
Nope, I was happy working for the man, knocking down six figures, getting paid sick days and vacation and letting them pay half my Social Security tax. Retired at 56 but took a bunch of crap from time to time.
I read a book titled Pay Yourself First a long time ago. Everyone should read it. After reading the book, I started saving 10% of my paychecks . I was able to save a nice nest egg, and now pulling .04% from while the account now that I’m retired. If you don’t want to be poor in your retirement years you need to plan for retirement. Failure to plan is nobody’s fault of their own. Our education system needs to better prepare future generations to plan for their retirement early In life..
Now most people don’t have pensions, SS is constantly being threatened to be running out and people don’t make enough to save significantly
SS has been close to running out at least twice before. And each time it was saved. Sometimes with as little as 2 months before benefit cuts. It will get fixed again. Any person not supporting shoring up SS will end up out of public office in a millisecond.
@JBoy340a "Third rail of politics" no politician wants to touch it.
@@JBoy340a nah. boomers aint the majority of the population.
I'm a boomer. My wife is a boomer. We worked hard, very hard, and we sacrificed. No expensive vacations, No expensive new cars, No crazy spending. We invested in our jobs, kept getting better educated, this is key. We made ourselves as indispensable as possible. That paid off. The harder we worked, the luckier we got. We are almost 70 now and we are not worried about anything other than young people f***ing up the country with socialist ideas, which mean paying people for achieving things that they never actually accomplished. Unless the country goes under, working hard and saving is still the way to go. Make yourself useful, don't waste money, sacrifice as much as you can, put off pleasure for another day, and you may just be OK.
Yup, copy that! We did that also and are doing fine…..it really is about the grasshopper and the ants, folks… welcome to reality…..
.
Pretty much the same story. But the bit about young people messing up the country I cannot agree. We made our share of mistakes. I have hope in my kids and grandkids. As far as going socialist not a snowballs chance in hell of that happening. Much greater chance of going fascist . That is what is worrying me.
@@stephencullum8255 I'm not asking for your agreement, but OK. I see what I see. I have faith in my kids because they learned from me. It's other people's kids that worry me.
Some of your statements are accurate and wise; however, putting off pleasure for another day is not. I'm not suggesting hedonism and extravagance are the way to live, but people need joy and pleasure in their lives to be happy. Unfortunately, the left is moving towards socialism, which will bring about the total downfall of this once wonderful country. Paying for all of the illegals will bring about that outcome sooner than later.
Well said
Boomers are in trouble? Try being a millennial or genz these days.
Once boomers start transitioning to dirt, millennials and gen z will be fine
Some millenials are doing fine. They got good education and good jobs and are able to save and invest considerable amounts. And the have decades of time for those savings and investments to grow. It all depends on planning. The sooner you start saving for retirement the better off you will be in retirement.
Thanks for skipping the invisible Gen X'ers. We like it that way.
@@squidward66 lol I’m genx. We have it much better than younger kids.
Try growing up in the Depression and then fighting in WW2. Thats what my parents did. They would gladly trade places with you. millinuals and Gen Z have it easy as pie. Its a cake walk to live these days.
Vacations, new cars, a jet ski, a boat, a lake cabin, and a high life style vs. actually saving for their retirement is the problem. Maybe?
Pensions don't exist but even if it does look what happen to pensioners in Detroit. When pension funds run out of money it does not matter what you were promised. They are getting about 65% of what they were promised. Almost all of the government pension systems are in deep trouble.
Drove old cars, stayed in the same house 30 years and fixed it up and saved money. Ready to retire and just getting the last things in place.
Retired in Hawaii, on SSI. I own three properties off the grid and rent out. Not rich but I get by.
My union membership gave me more than a living wage and an excellent pension.
I was very fortunate. Worked hard since a teenager and retired with a pension , savings, social security, a dozen apartments/mtg free, and 401k. It wasn't easy but anyone could have done it with some effort. God is great.
God is great. It truly is about delayed gratification.
We know, we did! five homes all paid for and 620k in treasuries
All the "toys" ,swanky vacations, too much house and fancy cars.. It'll bite your ass HARD when you get old...
Most pension went to 401 k and it really doesn’t work.
Agree. My 38 year old stepson has had a good job for 5 years; his retirement plan there is 401K. It could disappear later when he won't have the time left to build an alternate fund.
We need to include the cost of the boats, houses and trucks they've owned over their lifetime in this analysis. I'd like to see how many of them brought this on themselves. Not all have but many have.
There’s a ton of videos on UA-cam about seniors living in old motels, broke. Their stories are very revealing. Years of minimum wage jobs, no extra training or education, often some addictions thrown in and helping out relatives when they didn’t really have the money to do that. Just many years of bad decisions.
Does that make you feel less guilty for stealing Social Security from seniors who’ve paid in all their lives and were told they were getting a certain amount and now they’re getting less than half that amount? Does that make you feel less guilty blaming your victims for all of the excesses that you’ve voted for in government and allowed to continue with no law-enforcement whatsoever which is allowing wealthy people to do anything they want to seniors with no repercussions whatsoever and laughing at their victims because working class seniors don’t have enough money to hire a team of lawyers to fight it? You just want to victim blame everybody you all are collectively robbing because you don’t own a conscience.
@@katydid2877 this from the generation who can’t make change for me at the store even when the computer tells you how much change to give me because you don’t know what the value of a coin is and even when you’re told you can’t add the different value values of the coins together in your head to make the amount of change necessary. Seriously… Young people these days can’t find their own way out of a paper bag.
Wall Street Bankers are always figuring out ways and how much money they can drain out of the middle and low earners.
And what set me back actually was being scammed it seems like just about everyone in the world these days have been a victim of it.
Teacher here. Saved my first $9K and invested in real estate. Ended up with dozens of houses that I rent out. Never loo0ked back. buy one, rent it out, refi and buy another. They are like acorns...they reproduce. $9K to $15M in 30 years. Never spent money on cars. Never sell your real estate. Just rent it out and pay it off with the rents. Retired at 58. No stock market, no Bitcoin here. Started investing in RE at 26. Pension + rents + retirement!
@@Jj-gi2uvGood advice as I did just that ! Sold 1/2 of mine portfolio in mid covid yrs ( prices surged over 25% veto all so called expert economists call for 15% drop)
less stress only have good tenants & passive income. Thank God everyday.
70 now - retired at 57 - wife retired at 50. We lived beneath our means. We didn't divorce. We worked hard when in college and didn't have student loans. We lived healthy lifestyles no smoking or excessive drinking. We didn't take expensive vacations. Now our income streams total 15K a month. We have a paid off 1 million dollar retirement home. We travel. We eat out. We drive expensive cars. We do it because we can. Note - we didn't live like paupers at all during our working yearsbut sure did when in college.
My brother-in-law worked hard during his young years and retired in his late 50s. Now in his 80s he has plenty of money and a beautiful home, and travels because he worked all that time with little playtime. I wouldn't have done that. It's a gamble to bet you will live a long time to enjoy all your savings. But if that's what you want, more power to ya.
You've got it good my friend. More opportunity and retirement ability then generations after yours... We don't even get to consider retiring until 70+ years old... Your lucky - watch your complaints - many would trade you positions months or years ago... Count your blessings and your not going to receive much pity from your kids as both my parents are deadbeats - one dead and didn't leave a penny of inheritance... Wah wah wah.... Here's a Kleenex
A person should have his major life needs paid off by age 55.
Boomers who work 40 to 50 years during a very prosperous financial time and no savings? Poor choices and/or no discipline, there are exceptions, but few in the most prosperous time for average people in history.
I agree. I took a public sector job back in my mid 20s and worked it for 25 years. Many folks I knew felt they could earn more and thought I didn't make a good decision. Now I receive a pension for life.
We lived thru two recessions..73. And early 80s (jimmy Carter malaise)
@@johnmusser8925 And full time jobs, much cheaper housing, cheaper energy and fewer essential items such as computers and 'phones. It was a walk in the park compared to what our kids are facing.
@@davidbrayshaw3529 last generation to be Forced to go to war..(the men anyways)
@@johnmusser8925 The vast majority of the boomer generation didn't go to war.
Conscription applied to a handful of men, born in a handful of years in a handful of countries.
Yes, the US was particularly affected by Vietnam, but the rest of the world, not so much so.
I think the retirement crisis will get even worse. A lot of people can’t save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won’t have a house to retire with either.
Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who weathered the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Retirement is a quick death for men. Stay active and keep working. In my 70's and still going strong working on apartments although I no longer regularly load heavy materials. Money is not an issue. Old boomers are in high demand for any position which involves responsibility. Want to get a few.
Old Boomers in demand? I don't doubt you, just want to know where?
If we stopped running a war machine this country could give it's people great healthcare are little to no cost. People living on the streets could have a room with a shower and food. That's the least we can do. And don't come at me. I have saved well, I don't need help.
Sounds like you would prefer to live in China, where they take care of you better?
Lets be real here, ok? When the SHTF EVERYBODY is screwed! You will own NOTHING and be happy. ~ Klaus Schwab
No, not really.
It depends on your location and country that you're living in.
Nukes don't fly all across the world.
@@vincentyeo88
So, you think your safe?
Sucks to be a burnt out light bulb, huh!🤣
They dont have to.....@@vincentyeo88
A 2010 study by Salt Lake City's housing authority found the most common proximate cause of homelessness was actually domestic violence.
Good point! Mental problems and drug addiction are the other two leading causes.
That’s hilarious
Pension? My job just like most of Californian's don't offer that. Rent thru the roof. Highest fuel prices along with taxes, Stagnant wages in my trade. Mostly caused by an endless supply of undocumented workers willing to work for less. Hell I'm very careful with my money. No cable, old car , no health insurance, no credit cards, and single. I manage to save a couple thousand and bam registration $400+ because of one unpaid street sweeping ticket. Gotta get a smog check that's another $ 400 + to pass, and renew my insurance for half a year. That another $500+ and now they want to charge you by the mile to drive in Cali on top of raising the tax for gas to $2.01 a gallon. Just the tax. How can we ever even think of retirement. Unless you get a government job or inheritance with some property. I'm not getting that so
You be like hogans goat!
The fact you have money in the bank, is more important than anything you can buy with it...
In general, these are self-inflicted wounds.
There is the old fable about an ant and a grasshopper.
Many "Boomers" (and I was born in 1960) chose to fiddle rather than save for the future - and they are now paying the price.
There is no readily available solution for this. The time to save was decades ago. The question is no longer, "How do I fix this?", it is instead, "How do I adjust to what I have available to live on?"
Fixed up old house, paid it off in 15 years, drove cars to over 200k miles, did all car repair myself. Big garden, hung out laundry etc.. Did everything possible myself Saved and saved all we could. Retired with 2.5 million in investments, savings. Anyone can do it it just takes discipline and sacrifice.
Same with us! but you got us beat by 1/4 mil.
A whole lot of boomers bought in to “oh yes, you can have it all” and “because you’re worth it”. So very many of the people in my old social circles bought big houses, luxury cars, backyard pools, expensive decor, etc. on credit, in order to keep up appearances. So many of them told my wife and me we were “living below our means”. But we bought a nice house, paid off the mortgage in 13 years. And this liberated us. We have never been wanting; life has been good. But once the mortgage was erased, we could buy things we wanted cash. Life without debt is great. So very many of our acquaintances will never know what that’s like.