I blame the removal of pensions and replacement with inadequate 401k plans.
Social security was never meant to be a retirement plan.
Maybe it should be. Decoupling retirement and Wall Street would probably let us take a more honest look at the costs and benefits of for profit corporations in our society.
We need regulations (laws) to make them viable for retirement.
A forced match plus a 10% pay paid for by the employer.
Most people just can’t save enough in a 401k to make it solid retirement program. You’re capped at little under 20k a year. I may mine every year.
I wouldn’t even mind a national pension plan or something similar.
The current system isn’t viable for many reasons.
My mom is retired but she has two pensions and social equity plus some other income. She’s in a rare spot that she’s very comfortable in retirement.
The amounts have changed. For 2023, the current 401K maximum is $22,500, and if you are 50 or older, $30,000.
For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than: $6,500 ($7,500 if you’re age 50 or older), or. If less, your taxable compensation for the year.
Cutting the budget to come up with an extra $28,000 is the hard part.
I’m not eligible for a Roth and I don’t get a tax deduction for an Ira. I do roll over my 401k into an Ira when I go to a new employer.
The amount change ever year but they really don’t amount to a good retirement.
agreed. retirement and healthcare should not be tied to employment. Want a snazzier retirement. Fine that is 401k/ira material. Retirement plus health insurance should be enough to pay for a retirment home private room where you won’t be molested (i.e. - pays enough that folks don’t want to lose their job)
Or more accurately, social security should be a proper national pension plan. Fund it by increasing contribution rates and uncapping contributions.
I stick with my underpaid government job solely for my state pension. At 55, I can start to get 70% of my final salary guaranteed, with annual COLA adjustments. I may not be rich in retirement, but I can get by.
401k works fine if you actually use it. A big problem is people didn’t contribute, where pensions generally had mandatory contributions. Also letting people borrow on them was a bad idea.
And borrowing on them is just a bad idea. At least in the case of my 401k, there’s no early payoff, you don’t make interest off it while it’s borrowed, it really can hurt in the long term unless the loan amount is very small.
I looked out of curiosity because I want to buy a house somewhere in the next 5 years, and immediately ruled out any consideration of borrowing off 401k.
They should cut back on avocado toast and get rid of cable.
They should get rid of that land line, you know they still have one
Nah, they should’ve sold their houses to Aquaman, and move…
Why can I almost never see the hidden replies?
Have they tried trickle down economics or maybe pulling themselves up by their bootstraps??
Enlarged prostate and arthritis are making that difficult
It’s a good thing they have an easy to use heath care system to rely on!!
“Fuck you, I got mine” turns into “Fuck, they got mine”.
Maybe voting just for soi and against vous wasn’t that clever after all? Will they stop voting Republican?
Unfortunately, no. They’re going to watch Fox News talk about how this is all Biden’s fault and only the GOP can save them from suffering the same fate. They will continue to follow the same pied Piper that led them here.
It will literally continue to be like this until they die out
The best thing we can do is get them out of office.
Anyone here who comments about how they deserved this fate or how they got what was coming to them needs to grow the fuck up.
There are very, very few people in this world who have done something bad enough to have this kind of condition even be remotely justified. They’re gonna either be on the streets or in basic Medicaid nursing homes for the rest of their lives. Many will get beaten and robbed. Many will probably just commit suicide to avoid the nightmarish conditions. And people here are celebrating this?!
Newsflash, the baby boomer generation are also people who also deserve to have someone give a shit about them. You people are sick.
In any case, it’s going to overwhelmingly not be reaganites who are going homeless. If someone spent decades shilling for austerity and had it bite them in the ass, that’s one thing, but this is the economic bottom dropping out, so it’s mostly not those people.
So, the kids won’t let you move in, you’re running out of options, and you’re here on lemmy telling us how sick we are (after how many years of boomers telling millienials we are the problem) because you’re about to be homeless?
Do you not think that the vitriol against boomers is just another example of getting different groups of people to hate each other so they’re distracted from the real issues?
If it’s not immigrants and minorities, why not get different generations at each others throats. Seems to be working.
It could be. However, I’ve spent my entire life not only being shit on be boomers verbally and mentally, but I’ve been watching them PURPOSEFULLY do everything in their power to destroy this world and it’s inhabitants with every political move they make. I cannot even fathom having sympathy for a group of people so spiteful and greedy and selfish.
Oh no! It’s the consequences of my own actions!
In other news, popcorn and confetti sales skyrocketing!
Ugh, I just knew what this gross comments section was gonna look like.
Look, whatever perceived collective guilt an entire cohort of humanity has in your view, it’s really disgusting to celebrate and gloat over a report about the elderly becoming homeless.
When subsequent generations decide they have the right to dance on our graves for whatever it is they decide we did, I hope your ghosts aren’t too whiny about it.
If we made life significantly worse for our next generations, then they sure as hell should dance on our graves.
Even those that tried their best to avoid causing problems and/or /revert the effects? You’re blaming the entirety for the crimes of the minority. This is dumb.
Yes lol, because they will feel the same way. If they take it as a personal attack, then that’s just silly.
The article doesn’t say, but I’m assuming the demographics of these newly homeless boomers is not predominantly white male. I still say boomer remover tho so i’m not exactly above generational warfare, it’s just the worst boomers get hurt the least from poverty
I think you make a valid point, unlike the federated smuglord that you replied to. This is mostly going to hurt people that least deserved it, as is often the case. Yeah, I know one or two boomer chuds that will likely get hit by that, but that’s not worth it overall.
The material conditions and sociopolitical norms for a large demographic group of people were such that the majority of them actively and deliberately destroyed social safety nets and privatized everything they could in the hopes of making a quick buck and sticking it to the (slurs), and you’re only upset that some people fucked over by that group are feeling schadenfreude about that group now experiencing what they had been dishing out.
Tldr: collective guilt 👍
One sentence was “too long, didn’t read” for you. 👍
And your collective condemnation of the people you look down upon for having unsanctioned feelings is the superior take. 👍
I would like the stroganoff treatment for personal tragedies that occur in your life, please. Just inform me when something big happens.
I would like the stroganoff treatment
That’s already old and stale. Your attempt to hitch a ride on it explains why you’re so defensive about the boomer demographic in general. I doubt you’re that old, but boomer is by and large a state of mind and you seem to fit that state of mind.
for personal tragedies
Except decades of suffering that boomers as a demographic inflicted on those younger (and in the past, on those older) than themselves. That’s fine and good because the smol bean boomers are special and better than those that came before them and after them and deserve all of the sympathy, including for things they inflicted on everyone, including themselves.
that occur in your life
Fuck all the way off with your smarmy concern trolling.
Just inform me when something big happens.
You live in a bubble world of smug condescension, so chances are you won’t notice anything anyway.
Removed by mod
You’re begging for sympathy for a demographic group that by and large were known for their entire lives for being abrasive condescending selfish assholes, and your way to demand sympathy is by acting abrasive and condescending.
perhaps you’ll grow a sense of empathy
You’re not demonstrating any for the people hurt by boomers in the long decades that they had near total economic and political control.
Good luck.
Your smug levels are already off the charts. You may break the meter.
Can’t see the 11 replies. So frustrating.
Enjoying the trickle down of piss? This is what you wanted
Bruh they were and still are brainwashed by so much anticommunist propaganda. They had to survive in those material conditions, and if they made it they had to buy into the lie of American Exceptionalism for their prosperity and not the Dollar becoming the worlds reserve currency and propping up European Social Democracy, Dictators, and Kings. They reaped benefits they were actively being kept in the dark about, if they are waking up cause piss is tricking down their face, i will still celebrate them waking up. We need all the people we can to wake up and realize how the elite have stolen from the working class and are only taking more and more as we continue to kill our planet to give them more wealth…
Cognitive dissonance is really strong if you have to question the way you were living your whole life when questioning the current situation. This makes those people far more likely to be easy prey for far-right propaganda than to be waking up, I’m afraid.
Solidarity friend 🤝
“over-50 demographic”
Hey, hey, hey, don’t group all of us in with those assholes…
Like there aren’t babyboomers who also have no say in policies and those that haven’t struggled their entire lives
The more things change, the more they stay the same
As a genx I had to struggle my whole life.
Because boomers around me were arrogant morons who didn’t understand they didn’t understand anything, and they weren’t entitled just for being born.
I’m also genX and know boomers all across the spectrum from malicious to entitled to regular people to fantastic human beings - kind of like every other group or generation of people
I’m sure there were good nazis too.
if they only voted blue 😭
Don’t worry, as the saying goes “pull yourself up by the dick”, and maybe they will gain enough wealth to become expats and gain more in foreign wealth and sex on Southeast and East Asia…, /s (Edited for clarification)
Instructions unclear, tried unsuccessfully multiple times and now I just feel like God hates me.
You just gotta pull yourself back up harder, my friend, remember the bootstraps and remember you d***, that’s the important part…
There are many books and at least one Oscar-winning movie about this
Meanwhile amount of empty homes is increasing. I WONDER WHY.
Wait, the people who caused all of this are now suffering the consequences? Oh no, whatever will at do?!
