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According to the title, "Baby boomers will be assets, not liabilities," I'm not sure if I would want to be an 'asset' in this country. The good'ol USA stupidly sells or just gives away all of our assets to other countries (family-supporting jobs, educated people, manufacturing responsibilities, military drones, etc). In contrast, we give huge monetary bail-outs to liabilities that are too big to fail. I'd rather be in the liability column as a large group (aka too big to fail) of Baby Boomers as we'll get bailed-out too then, right?
Mr. Chris Farrell, were you drinking when you wrote that tall tail? For heavens stake, take a look at the truth, not some garbage. 1. Most of the baby boomers who have already retired will only have about $100,000.00 to their names. And already they are going through that money trying to help their children and their grandchildren. Once that money is gone, then what? 2. The economy will NOT gain tration, Sir. Europe is sailing into a recession! Do you not even know that? 3. When people hit 70 or so, many of those people already have so many physical problems that they could not work even if they wanted too. And you say that they will be creative and productive at that age, or even more? Open your eye lids, Sir, and take a drink of that. 4. The boomers will not be any asset. They would like to retire and have some touch of golden years. Do you, SIR, plan to work until you are 85 or so? No? That is what I thought. 5. Just where is that money going to come from, Sir? Eighty percent of the boomers have no pension. And they are not good at computers. It is not their fault. They grew up with out any computers. The young people are much more with it than older people. Duh. I assume you have lots of money and you really won't have to worry about these things. Just like the rich bankers and the fat cats on wall street. But the boomers will drain the economy due to health problems and costs. Do you want to argue with anything here that I just laid out for you? Wake up, Sir, and smell the coffee.
I like the refreshingly positive spin of this article, vs. so many others. At age 55, I take slight issue with being called part of the "Woodstock Generation."
People my age and younger, those born all the way down to 1964 are the younger and bigger part of the Baby Boom.
We were too young for a lot of the fun stuff, like: Beatniks,Woodstock, Summer of Love, Mickey Mouse Club,American Bandstand, and Surf Parties.
So let's have our fun now, as Twifties, the fun people over 50! Fifty is the new Twenty!
Lauren Traub Teton
sign up for the party list there!
HOW CAN OUR WORKERS COMPETE WITH CHEAPER WORKERS IN OTHER COUNTRIES IF OUR POLITICIANS
WON'T FORCE BIG BUSINESSES HOLDING A LOT OF CASH TO HIRE AND EMPLOY MORE PEOPLE AND
IF OLDER PEOPLE ARE WORKING WERE WILL THE YOUNGER PEOPLE WORK?
IT IS PREDICTED THAT THERE WILL SOON BE THREE WORKERS FOR EVERY TWO RETIRED. I AM NOT SURE THE YOUNGER PEOPLE WILL WANT TO GIVE A SIGNIFICANT PART OF THEIR CHECK SO OLDER PEOPLE CAN HAVE A GREAT TIME WHILE NOT WORKING. THIS MAKES NO SENSE.
I EXPECT THE NEW REALITY WILL BE;
1.HIGHER RETIREMENT AGES TO ALLOW MORE TO DIE OFF BEFORE RETIREMENT OR
2.SUBSTANTIALLY LOWER BENEFITS FOR A RETIREMENT AGE IN THE 60 AND 70 YEAR RANGE AND
3.EXPENSIVE MEDICAL CARE THAT RESULTS IN PEOPLE LIVING LONGER CAUSING AN INCREASED POPULATION OF MORE INFIRM PEOPLE MAY NOT BE FUNDED.
I EXPECT OPTIONS 2 & 3 WILL COME ABOUT TO LEAVE MORE JOBS FOR YOUNGER WORKERS UNLESS THE SOCIAL ENGINEERS PREFER A LOWER BIRTH RATE THAT COMES WITH INCREASED UNEMPLOYMENT OF YOUNG PEOPLE. THE NEW REALITY WILL BE OLDER AND YOUNGER PEOPLE LIVING TOGETHER WITH THE PEOPLE UNEMPLOYED (YOUNGER OR OLDER) STAYING HOME TAKING CARE OF KIDS SAVING HOUSING COSTS, TRANSPORTATION COSTS (LESS CARS), ELDER CARE COST AND CHILD CARE COSTS.
MAYBE THIS WILL LEAD TO A MORE PURPOSEFUL LIFE FOR EVERYONE, BUT, NOT THE PICTURE PAINTED BY THE WRITER.
Not to worry, Social Security will be fine. We're all getting so fat we'll be dying younger so all the actuarial tables are all improperly skewed at the moment.
mstrifty...great comments and a great attitude.
The way this economy and the job market in general treats 50+ people is
terrible. Somebody really needs to take a hard look at how valuable we are and that we are part of the solution and not the problem. Despite all my experience, desire and good health, I can't find a job and need to independently create some income for myself. Not nearly what I used to make. But that's the way it is now until somebody wakes up.
Re: "55- to 64-year-olds had the highest rate of entrepreneurship of any age group from 1996 and 2010..." Allays two fears at once -- leaves old jobs open for young workers (who cost less) and creates jobs for experienced workers (who are having a hard time finding work in this economy)!
Mstwifty got it exactly right -- after years of blame-everything-on-the-Boomers, the article is refreshingly positive. One can only hope that this attitude takes hold across the age spectrum.
Re: "Somebody really needs to take a hard look at how valuable we are ... we are part of the solution and not the problem." Exactly, rms316! Boomers are the largest, most productive workforce in the history of the Republic. Boomers are very good with computers -- they got in on the ground floor. They or their predecessors invented computer language. They or their predecessors invented the Internet. Boomers invented the personal computer. (Steve Jobs was a Boomer! Bill Gates is a Boomer!)
Those who wax apocalyptic about Social Security should learn their history... Boomers parlayed their numbers, their work ethic, their productivity, their ingenuity, and their willingness to pay their fair share into a Social Security Trust Fund with a surplus of over $2 trillion.
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