Monday, June 15, 2015

Ahhhh, the Baby Boomers

How does half the people 55 and older not have anything saved for retirement? 

Seriously, it is stuff like this and the hubris by which this generation insisted on telling us "we know better" that not only makes me dismiss them, but angry they misled now nearly two entire generations down the wrong path because they frankly had not freaking clue what they were talking about.

On the up side, Asshole Consulting would have never been the success it is today without the Baby Boomers completely botching up the country, so maybe I should be grateful.

14 comments:

John Wiemer said...

So, after a lifetime of Millennials' money being redistributed to Boomers, they still won't have any fucking money, so let's get ready to support them through retirement!

grey enlightenment said...

probably because they know there are going to get social security, medicare, and a bunch of other free crap

Anonymous said...

I love my parents, but discovered not too long ago that they had it all wrong. They have plenty of money in their retirement, but I can see the regret in their eyes of a life wasted in menial work now that health issues are preventing them from actually enjoying it. This is also the generation that was so poor at parenting that more than half the country subsists on anti-depressants and anti-anxiety medication. And God forbid you don't abuse your kids emotionally like what was common for them to do, you never hear the end of it from them.

Glen Filthie said...

Pbfffffft!

I dunno about the US, but here in Canada 65% of us are retiring with mortgages!

Only the loons, the Assholes and the nut bars seem to notice that the wheels are coming off. Here in Alberta - the only remaining 'have' province in Canada...we just elected the fuggen NDP in the provincial elections. Their members are typically Marxist beardos, UFO abductees, angry and sexually disturbed freaks of all the known genders (and some unknown). Others are burger flippers and cocktail waitresses. Just the kind of folks you want in charge of the finances of Canada's richest province, right?

When the collapse comes, I will at least get the pleasure of watching these idiots hang first!

Anonymous said...

As a boomer it does not matter. We are victims of capital flight and will plan on the government to keep printing money for OUR retirement at the expense of the generations beneath us. Have a nice day.

Anonymous said...

I learned early on in my professional career that my baby boomer bosses were full of excrement. I played the game for awhile and then seeya. Most had huge credit card bills on multiple credit cards, bought new cars every few years, and lived in large homes. They were debt slaves even though they made great money. Doesn't surprise me that the baby boomer generation has nothing saved, since most of it was spent consuming crap. Luckily, my parents were raised by parents who saw up close and personal what the Great Depression did to one's finances. That upbringing was passed down to me: save for a rainy day, don't spend more than you have, and always use cash when possible (or have the cash available to payoff the credit/charge card charges immediately).

Anonymous said...

Who'll be the stupid one when your retirement savings has been confiscated or inflated out of existence?

Faithless Cynic said...

No retirement savings? No problem? Just elect a Dem or Rino who will tax a producer and give it to you! The end of this will not be pretty. Hope I die of natural causes first before I have to go dumpster diving for food.

Anonymous said...

Most likely the vast majority of that 50% are women, so fully expect the 401K/IRA/pension system to be nationalized especially if Warren or Hillary win in 2016. It's likely the gov't is hammering out the details with Fidelity,Vanguard etc behind the scenes right now. There's simply way too much money in those accounts for the gov't to ignore.

Rick Caird said...

"So, after a lifetime of Millennials' money being redistributed to Boomers, they still won't have any fucking money, so let's get ready to support them through retirement! "

That has to be one of the dumbest statements I have ever heard. Since the earliest Millenials were born in 1980, they earned no money until about 2000. So, the idea that before birth they were distributing their non existent money to Boomers is such egregious nonsense, you need Asshole Consulting to give you some basic math and logic lessons.

The rest of the comments are pretty dumb, too. They show a complete lack of understanding of history and technology invented from the 1960's to today that make these wussie little Millennial's lives so much better. These Millennial's have been sponging of the Boomers their whole lives.

However, I grew to unappreciate the "Greatest Generation" by the 1980's. I think it is a constant that the older generation thinks the younger generation is degenerating while the younger generation thinks the older generation is taking advantage of them.

leeholsen said...

"Who'll be the stupid one when your retirement savings has been confiscated or inflated out of existence?"


Anyone under 50 are the stupid ones. They let the seniors literally steal their future's opportunities by voting en mass to grant them all sorts of senior gimmes and tax breaks that typically give advantages to seniors.

Now, in fairness; the youngsters dug the whole deeper by typically pursuing careers that are "worthless" and refinancing their house so they could keep buying the latest iphone; but the boomers have been voting the country into financial insanity.

Anonymous said...

"Millennials have been sponging off of Boomers"

Boomers love to call Millennials lazy and entitled, but boy, they don't mind taking out Social Security and Medicare money (and health insurance subsidy through Obamacare's health insurance pricing regulations). Don't bite the hand that feeds you.

We (millennials) are dumb too, though, for voting for these things (especially Obamacare), but it'd be nice to get a little more respect from the members of the generation we're propping up due to their extreme financial mismanagement and selfishness.

wheels said...

I'm a boomer with retirement savings, and it horrifies me that, as uncomfortable as I am with how much (or how little, to be more accurate about it) I have saved, I've got tremendously more saved than most of my age cohorts.

Given that Democrats in Congress have introduced legislation to confiscate savings accounts of various sorts (I think they used the word, "invest") at least twice, I'm not confident that I'll still have my savings when I reach retirement age. That would mean that anyone who managed to save anything for retirement was the sucker, and the grasshoppers are in control.

j blog said...

By 2025 tax revenue will only pay for Medicare, SS, and the interest on our debt. Gen x and younger will not receive SS or Medicare. 35 and under are the boomers tax donkeys. The boomers were not the greatest generations tax donkeys. Never trust anyone over 30.