posted March 19, 2013 03:36 PM            

But there's a bigger problem effecting the economies of G20 nations, the aging population.

Can baby boomers actually afford to retire? and among those that can are they just going to be barley getting by? Are you planning on being semi-retired and working part-time?

For Generation Y or Baby Boom echo, are you in massive student debt? Are you starting to think that your Bachelor Arts degree isn't getting you anywhere?

Are you a BSc student finding related work but not being able to go further?.

Is your current job barley unable to pay your student loans?

These are problems I think that are really going to damage the economy and no
politician is addressing these issues that will prove to be problematic in the next 10-20yrs.

What to do with a generation that can't move forward(Baby Boom Echo /Gen.Y) and aren't productive to society.

posted March 19, 2013 07:15 PM            

quote:

---

Can baby boomer's actually afford to retire?

---

No, most cannot. Different story even 10 short years ago.

Our so called entitlements, which are paid into-- were squandered and lost years ago. SS is solvent to a point. We all know that these monies are manufactured to begin with, but they were 'borrowed' and never paid back.

Our Military on the other hand has doubled down twice. In a recent thread kat said we have armaments over and above the next 20 countries. The released figure, if you believe such things is actually 13 countries. But that is beside the point. Home Land security is an awfully huge part of expenditures. A massive scale with money to match, yet those who are on food subsidies are skyrocketing. We have millions who do not know where their next nutritionally bankrupt meal will come from, yet....year after year the military gets a blank check.

The kids who are born on this day( & the next) better have money making parents, their sub par educations are not affordable, and they have little on the job market to look foreword to without it.

A bleak, bleak picture for future generations in this country.

If things stay at a stalemate in congress, and the Grecian Formula of austerity to the lower classes, lack of investment in anti fossil emerging tech, and infrastructure we are very close to a third world situation.

On the brighter side There is a new pope!

------------------
It's a cautionary tale of unchecked zealotry in action. "We need people of principle who have deep conviction," Cutler told me. "But deep conviction can also take down a democracy."

posted March 27, 2013 11:19 PM            

As for me I have my student loans paid; went for the Bachelor of Science. An arts degree seemed a waste/uninteresting. Yes have found related work that I've trained for and YES am looking into taking this further and in a separate position. There's a push for funding for a new department I'm wanted for already so it's a wait and see on that one. I find it's best to have my antennae out and to keep making new connections, that's one thing about me and my career I don't care for remaining stagnant, if I felt I've done all I could in a certain department then I'll want to move on. So motivation is a strong factor here, alongside what it seems (?) you're putting out there which is "luck." If I had it to do all over again I'd still go for the Sciences.

Those younger than me who are more in the interim, trying to get established after having finished school, I see them still struggling with loans. There's the job market to consider as well. It's sad to see one with a degree in astronomy working for $10/hr in a separate field, but he's trying to get in to the local university, I see him on track to becoming a teacher in his field.

"While Baby Boomers being left unable to live a good life after retirement."
--Medicare counts for something? That's a sizable part of what's draining the country, people are living longer.

My parents are in their 60s/70s, the older retired I believe 4 years ago. The younger is still working but is "working on" retiring next year. (My stepmother demands a more luxurious lifestyle so she's not willing to quit just yet.) If they were more frugal like myself and sold their home for something in a diff neighborhood or smaller they could've both retired 10 yrs ago, they own the damn thing.

posted March 27, 2013 11:55 PM            

quote:

---

Originally posted by Lonake:
Hmm, I've seen some Baby Boomers having problems, but some portion of the population will always be in financial distress.

As for me I have my student loans paid; went for the Bachelor of Science. An arts degree seemed a waste/uninteresting. Yes have found related work that I've trained for and YES am looking into taking this further and in a separate position. There's a push for funding for a new department I'm wanted for already so it's a wait and see on that one. I find it's best to have my antennae out and to keep making new connections, that's one thing about me and my career I don't care for remaining stagnant, if I felt I've done all I could in a certain department then I'll want to move on. So motivation is a strong factor here, alongside what it seems (?) you're putting out there which is "luck." If I had it to do all over again I'd still go for the Sciences.

Those younger than me who are more in the interim, trying to get established after having finished school, I see them still struggling with loans. There's the job market to consider as well. It's sad to see one with a degree in astronomy working for $10/hr in a separate field, but he's trying to get in to the local university, I see him on track to becoming a teacher in his field.

"While Baby Boomers being left unable to live a good life after retirement."
--Medicare counts for something? That's a sizable part of what's draining the country, people are living longer.

---

Thanks for sharing, I guess were both in a similar position. I already have a degree and I'm trying to figure out the best way to move forward.
I guess we both shouldn't complain I know lots of arts grads that can't even get there foot in the door.

quote:

---

Originally posted by doommlord:
Im surprised the thread got so litlle posts.
I myself am no native to america or to its financial states (at least not in the level you do) and i would like to hear more opinions/explanations about the situation.

Also, how do you think countries outside the G-20 will be effected by this change?

---

My opinion is that:

1)most people don't plan for the future or try to see potential problems in the horizon.

2)Don't want to think about retirement because it will not happen.

posted March 28, 2013 12:09 AM            

If you look at the demographics of the emerging markets and tiger economies.

You'll notice that the population is within the prime working age of 25 - 30 and finding employment isn't as bad or there's a better family support network.

Afterall, they will be people paying the taxes and supporting the bulk of the funding for government services.

Then for the baby boomers, there children are more likely to take care of them because of the support they received, thats a culture thing.

posted March 28, 2013 02:02 AM            

One reason I believe it might be done with ulterior motives is how often it's reported to maximize resentment, and basically saying, "They should've saved more but decided to be parasites instead." Actually, no, medical expenses are so incredibly outrageous (even a ketchup holder you get for free at Burger King is like $20+ at many hospitals and listed as a "pill dispenser" and it gets far worse than that, it's INSANE what Wall Street has done with hospitals) which is what wipes so many out (even with insurance and bennies). Insurance & retirement plans (even government ones) are notorious for being shaved little by little as time goes on, ripping them off and losing investments paid into them. Furthermore, they get screwed by big biz all the time (as just one example, anyone remember Enron? A friend of a friend lost much of her savings investing in them). But the growing number of reports don't mention that, it's all about making us mad at the elderly which makes me think this isn't reporting, it's an attack that's meant to manipulate us more than inform us. (Granted, the media loves a bogeyman so just maybe it's them being jerks again trying to get viewers or readers by angering their audience so that they can sell advertisement space at a higher price. I just have my doubts on that option simply because boomers make up much of their audience so it strikes me as too risky, but then maybe that's why it's still not a big deal yet.)

Still, I never really expect government to solve problems, or even to try. Their purpose has always been (generally speaking) to maintain a privileged class and special interests, and that's still true today no matter how much they try to dress it up as something noble, wise, and caring.

I am very curious how the government is going to work this out, however. Most powerful politicians will be of an age to be sympathetic and the retired are much more likely to vote...and yet politicians aren't going to be hurt if they plunder social security for themselves and their cronies and they come off as sociopaths to me (sociopaths who pretend to care and feel our pain...even when they inflict that pain without even the slightest twinge of conscience in the first place if I read them right). And then there's how the rich man in his fur coat can't understand why the poor man without one is shivering. So my guess is social security will eroded more and more until it's gone (that's for the everyday people, not politicians) and allow nature to take its course (be they placed in horrid nursing homes or left to die in heatwaves and the like because they can't afford the power bill assuming they have power in the first place).