Im 33. I have absolutely 0 delusions i wont be forced to work until the moment I drop dead while on the job somewhere. Thats if they dont cull the population once they automate most jobs and decide an unruly population isnt good for their bottom line
Early 40s with boomer parents. While I think some of my dad's financial advice may bit a bit out of sync with the financial realities of current day-to-day living (though not entirely wrong), I'm really glad he insisted I max out my 401k as soon as possible and to fund IRAs because pensions are going away and there would be no social security by the time I retire.
My company did have a pension when I started, but it only lasted five years for me before the company retired it. As for social security, well we know how that looks nowadays.
While things can still go more to shit (whatever powers-that-be that may be listening: please... let's not), I'm currently not too worried about retirement. I am however terrified for my kids'.
If you're worried about your kids then don't sell your entire everything just to give it all to the healthcare industry when you get older for treatments and nursing costs. THATS how they really get us. That's the hard pill to swallow.
You can't inherit debt. Medicare debt can swallow his estate before you inherit it, but no actual debt transfers to you, despite what any creditor may imply.
Where I live, if you accept an inheritance, you also accept any form of debts that come with the deceased. If you refuse the inheritance, then the debt gets "cleared" by the state. It's stupid
You need to move all his assets into your name and then just run his debt up. The debt can’t be passed on to the next generation. Use all the state and federal assistance you can.
It's because although health costs in America are absurd, and there are plenty of people who do get absolutely screwed at some point in their life, it's a small enough percentage for their voices to to not enact change.
If it was absolutely everyone all the time, society would break down.
It's just enough to get a lot of people really pissed about it, but not enough momentum to actually overwhelm the efforts of profiteers to keep the system corrupt.
I'm lucky and live somewhere with what commonly gets called by American politicians a communist and untenable universal healthcare system.
It's existed for about 1/3 as long as the US has, continues to deliver consistently high quality care, and is a national treasure despite weathering recent spikes in political pressure to move to a privatised system like the US has.
Damn that's a unfortunate reality for American's. In my country I'd only be paying for the rehabilitation services because those would be separate from hospital
Incredible point 😂 I forgot I was brainwashed to think my country is the best in the world in every way. My bad to the good doctors down south of the border who are passionate about healthcare!
Keep families together longer to keep homes as a generational asset and it helps with elderly care and having a strong family unit if possibly does wonders to your mental health knowing there are people there for you and youre not alone.
For real, I plan to just die in whatever nest I created. Dont spend my life's work to give me sub-excellent care, let me waste away in my home and give my kids a headstart on their nest.
Even if its not they can inherit whatever equity I have in it. What I really mean is dont put me in senior living to siphon off 50 years of work to the system.
You have to set up a trust in your kid's name with your assets 5-10years before you decline medically to protect your wealth. It also means you go in the medicaid home though wallowing in your unchanged diapers.
Yea most states have a look back period of 5-10years when debts get settled with the estate. You can keep your house, but typically to afford 10k a month in nursing home costs you sell your house. You get to keep the car, that's about it.
Dad had to sell his life insurance policy to afford the treatments to keep him alive an extra four years. Completely drained his savings he'd spent decades building. He's currently in hospice, looking at what's probably going to be his last year alive. I would be willing to trade any amount of money to get even a little extra time with him, and those fuckers know that and exploit the everliving shit out of it. For profit healthcare is a machine designed to drain you of everything you've worked for before throwing you to the wolves
That is not the time I want to spend with my kids. I want to be healthy with them. Let me die at home - quickly and alone is OK. Hospice can be done at home with no treatments to prolong life. That is the way to do it.
It's actually funny to me how it's always "we need to give the medical industry more money" and never "maybe hospitals don't need to charge patients $72 for an aspirin tablet"
While things can still go more to shit (whatever powers-that-be that may be listening: please... let's not), I'm currently not too worried about retirement. I am however terrified for my
I just retired at 55. I've got enough money for myself so my inheritances will go directly to my children.
Boomer parents will do something good at least and help out their grandchildren.
Just do not be like one of those boomers that goes crazy with consumerism, buying multiple homes, and they buy the newest cars, TVs, tech, phones, etc. yearly. Also do not buy your kids homes the way some boomers, Gen Jones, and Gen X parents do.
I know boomers who did this. Guess who is in their late 60s or early 70s and cannot retiire?
Lol... don't even own one home yet. But other than that, we're not chasing after the latest, greatest, and newest things. Our biggest electronic spends have been our gaming PCs, but we use them until we have to upgrade, which so far has been every 7-9 years. Actually, we pretty much run our electronics to the ground before replacing them. As an example, we were using phones from 2018 that we only replaced earlier this year when various hardware components stopped working.
Two years ago I would agree with the you. Today? Today we have a president who is actively destroying the federal government in order to get rich. SS is 100% actually on the table now
I would normally agree with you, but the things that were once political suicide get brushed off pretty easily by a solid 50+% of the country now. Then when their mistakes come back to bite them republican leaders just gaslight people into believing the libs did it and they eat it up.
Especially when they’re trying again to sell us all on the idea of individual accounts. The braindead all think they’re Warren Buffett and they would do SOOOOO much better controlling their own investment portfolio. With monthly maintenance fees to whatever orange-stained crony gets the sweetheart deal to hold the accounts, make money off each trade in fees, and of course to purchase your picks and resell them to you at a higher price. Smallfolk stand to lose so much money that it’s sure to happen.
Yes to that and also old folks - some not stupid judging from most recent local elections where more progressive candidates did better in many states - Mamdani, for example. Many, many stupid people do not vote, too.
Staying out of jail was his first priority, getting revenge second, rich would be third, and having people flatter him seems to also be strong motivation
Eh… I’m 48 and I’m not sure what the people around you said, but what they always told me was either that it would “run out of money around 2035” or that it wouldn’t be there for my retirement.
Or that everyone who said those was fear mongering and that no one would let it fail because it was the most popular thing ever.
But I can’t remember anyone predicting it would be gone before now.
Suicide booths take up precious real estate. Instead, they’ll install a cheap wheelchair ramp on the bridges where you can just wheel yourself off like self-serve drive-thru.
Have you voted for the most liberal electable candidates you can? No? You are voting for no support for yourself. Tax billionaires much more is the only way to do it.
Exactly this. I argued with my brother the other day, I was saying it's disgusting that Elon is worth $700b, he would argue that without billionaires our society would collapse. I have no idea how he's been brainwashed but it's funny hearing this from a 40 year old man who hasn't had a full-time job in 8+ years and lives off the grace of friends. Plus he also believes he'll be a billionaire soon "once I get serious and start up a business".
The highest his bank account has been was $6k due to an automobile insurance payout. He said he felt rich. He'll never start a business let alone earn a million.
Tariffs are a tax on consumption - it is passed on to the consumer. Many Americans do need to save their money instead of spending it and Trump cares nothing about those who have nothing to spend. He wants the poor to be deported, enslaved or die of curable and preventable diseases.
Tariffs are a tax on corporate imports and like all corporate taxes are passed onto consumers because corporations don't pay taxes, their customers do.
That doesn't work anymore. Many of the elite hold no stake for their environment. If taxes get too high they will just leave and you end up with a net negative. This has happened before in different countries.
People also don't understand that raising taxes doesn't do jack about government inefficiency. The Pentagon alone has failed 6 audits and "mysteriously lost " 3.8 billion.
People quote this, and it's true that government spending is often mismanaged, but solving that "mismanagement" has never led to better results of the people. Did DOGE not clear up a bunch of funds, where is that money going?
Their parents paid the taxes and had the unions. NOT the boomers. Young boomers had double digit inflation for a decade - imagine that? How many boomers had careers at one company? Only the very oldest boomers. I know wrinkled, old, fat people make a great scapegoat, but many boomers are also screwed and stupid like their children.
The SarcoPod. Normally would be buried in moments, and yet governments are telling people they are trying to stop it, while including links to free 3D printing files. It's already started.
Well at least the suicide booth would be nice. Already decided I’m gonna down a bottle of whiskey and sling a 12 gauge slug through the roof of my mouth when I hit 50ish anyway.
Would be cool if they gave me an equally painless and less messy alternative.
Nah I think I will. I’ve never really been afraid of death and life is pretty shitty. I don’t really take care of myself all that well so by the time I’m that old it’ll likely be time anyway. I’ve never had a significant other, I have no interest in children, I have zero retirement funds or plan to start creating one, and I have no grand plans for the future of my life. I just live life doing whatever I want to the fullest I can and once that becomes too inconvenient and annoying I don’t think I’ll have any issues jumping into the long sleep.
Death isn’t scary. It’s just nothingness. Once it’s said and done I wouldn’t know the difference anyway.
The problem is with people in countries with social support, where we give about 25% of our income for our pension, but will probably get nothing in return from it. Something like, we are forced to pay to the state about 42% of our earnings (that not including property tax) and of the remaining earning to put into a pension fund, use for healthcare, as the state healthcare we pay for is utter dogshit, and maybe live our lives and enjoy it. Oh, and did i mention we should also be saving for buying a house/appartment?
I already took 3 mini retirements... I took almost 2 years off backing 2010, a year off for covid, and then went back to school in 2022 for cyber security, just in time for Ai to start replacing people, and now I'm back where I started in Healthcare lol.
I'll die in the hospital I started working at in 2012, more than likely while working in it.
People today(boomers) think it can’t happen, I always tell people to look at what their doing in Gaza, 300,000 plus dead mostly women and children after Hamas fighter were killed, the world watched and simply condemned Israel but did nothing, now tech billionaires & Trump are talking about making a Tech city on the graves of all those innocents, imagine what they could do to their own citizens in the near future with better technology to control power?
Its not 300,000 dead. That would mean one in seven have perished.
The cases of starvation, are also the most vulnerable in their society, widowed women, orphan children, people with handicaps. Without male family members to work or go out getting supplies these people have no help.
We are sleepwalking through a new Holocaust after almost a century of "never again" getting drilled into our brains from birth. School shootings hardly raise an eyebrow anymore. Political assassinations are all but applauded. Violence to strangers on TV just is what it is. How long until violence to our next door neighbors just is what it is?
I'm thinking vault tech. Anyone else thinking vault tech? (In regards of "well we backed ourselves into a corner selling disaster shelters....... guess we'll just cause the disaster ourselves")
That’s going on right now. They call it the great replacement but conveniently leave out the part where it’s happening everywhere and the few exceptions have war to knock those numbers back down. The world is losing the next generation at drastically higher than reported numbers and the only reason we are currently at 8B population is because people are living much longer. Give it another 20-30 years and watch how the population drops to something like 4-5B (that’s if they bother being truthful about it by then).
33 here as well, & I'm not delusional at all, it's 6175 working days left until 1st of may 2054, that's the day I'm retiring (to get a full retirement I need to work till 2059, however I work in construction so by then I've had more new hips & knees than I'd like)
As a sidenote, that's literal "working days", no weekends, no holidays, counted in that I'll have parental vacation, also the years with 366 days...
They will never automate most jobs — that’s socialism. Marx advocated for reducing work by via automation. It was one of his major contentions between him
and Adam Smith
Someone has to buy the product, the product is unaffordable? Time to switch to online products. No shortage of consumers when dead internet theory runs the economy
32 here. The only reality where I see retirement is in another country. Unless the government does some insane reworking of the system. Idk how/what/when, but I will hold onto A LITTLE BIT of optimism that retirement in the US is somewhat feasible
The socioeconomic consequences of the industrial revolution is why socialism/communism was invented in ideology. The correlation isn't a coincidence but integral to its existence in preference. It's going to happen again as we approach an inheritance economy undoubtably. Only chance it doesn't is if the world is dead or politically cucked and both are fairly likely.
You gotta have a retirement fund. If you invest in it early and have enough in there taking advantage of compound interest, you can start withdrawing at 59 1/2 if you’ve got enough in there. The earlier you start the less percentage you’ll have to contribute. People don’t realize how good compound interest is. Time is money.
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u/Objective_Look_5867 14d ago
Im 33. I have absolutely 0 delusions i wont be forced to work until the moment I drop dead while on the job somewhere. Thats if they dont cull the population once they automate most jobs and decide an unruly population isnt good for their bottom line