Re: OT: AARP


Judity wrote:
(( One of the differences, every single one of us who will be getting SS,
if we get it, has worked to earned it. ))

Right, Janice. Some of us worked double shifts or two jobs most of our
working life. The money that was taken out from what we earned will be
paying for the retirement of younger people still working, or not in many
cases. Our parents, probably even harder working that we were, paid for our
current Social Security benefits.


No Judith, you are wrong. Your parents (figuratively) didn't pay for
your benefits, didn't even pay for their own benefits and certainly
didn't help pay for their parents benefits. We will have earned our
own, but likely if we all live into our 90s (or as I intend to do into
my 100s) we won't even be paying for our own. If your mum got
$800/month from age 65 to 85, she would have received $192,000 and I
can guarantee you that even with interest that doesn't even come close
to what she paid in.

We also knew to put aside some savings for our retirement, even if only a
small amount each paycheck. For many, having a savings account or a 401(k)
at work meant we didn't have to depend on the government to support us in
our "golden years". What are the statistics on the younger generations and
their saving habits?

Judity

Judith, you may be right about their spending habits, although I am not
sure, but you are throwing a stone where a flower should be planted.
This generation cannot save. Their homes are costing them 250K for
starter houses (if not 500K). Their daycare costs could be as much as
$800/month for one child. Many of these kids do not have the support
of their parents because, as they should, their parents are in
retirement and off having a good time, as opposed our generation, where
the whole family helped with the kids. I know these kids have to have
the best and may not know the word "no" but we did it to them and we
cannot blame them for it now. I feel sorry for this generation,
because they cannot afford to save for their kids college education and
their own retirement and put food on the table.

Janice


Come drop by Walker's mansion
http://www.writing.com/main/books/item_id/1022028
The Home of the Red Fox
http://Writing.Com/authors/judity

.

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