Tuesday, October 17, 2017

Baby Boomers Can't Retire Because of Student Debts

Both their own and their kids' student loans.



Perhaps they need to learn about minimalistic retirement.

11 comments:

Anonymous said...

I had a big diatribe I was going to post then I realized these people are just plain old fucked. Its the sad truth and somebody just needs to tell them they fucked up. They could work their way out of this mess, but I just don't see it happening with these two.

fockey said...

What the fuck is American studies? What value does that give anyone. You dumb cow, you are not a victim, don't expect me to pay for your decisions!

Her son Andrew looks like a real winner. Takes after his mom. How nice of him to help his mom pay for the loan she took out for his indoctrination.

Simple solution, allow student loan bankruptcies. Fuck the banksters that suck in these morons.

Pat Haney said...

Bwaaahaahaa!
Caveat Emptor.

She signed for loans for her kid to get a degree in sports management. Wow. So I wonder, What's the kid driving? Nice car? What's his rent/mortgage? She seems to have a nice house. She'd rather live on the edge than sell the place, pay off the loans? That's what I did. Downsize, pay debt.

I feel for the dude with the crushed skull. He was almost done.

It is a racket, but you owe it to treat a college loan like any other transaction.

David Reynolds said...

Here are the following I took from this story:

1) Why are boomers still having their own student loans from the 70's? Wasn't college a lot, lot cheaper back then? I graduated college in the 1990's debt free. That is because I took advantage of GI bill and I worked while in school.

2) I noticed that there wasn't any STEM graduates. Either the parents or the children taking out the student loans. They did no research as to starting salaries for those who major in the liberal arts.

3) These parents could have said no. As painful as it is to tell your kids no. There comes a time when you have to. I know my own boomer parents told my ass no when they couldn't afford things. That is why I went into the military to get and save money for college.

4) Nobody broached the subject of WHY the costs of college is skyrocketing much faster than the rate of inflation. When you tell everyone that they must go to college and they are willing to borrow the money to attend, then you artificially increase demand.

5) If these boomer parents wanted their kids to go to college, then why didn't they save for college during the kid's childhood?

6) If these same boomer parents who also went to college who pride themselves on "critical thinking", then why didn't they use some and ask themselves is it best that they should be borrowing $50k-$100k from the federal government when they are over 50?

Anonymous said...

Key notes: women, liberal art degrees, unrealistic expectations of their personal market value, shirking of responsibility to pay back debts or understanding terms and conditions.

Did you notice then nice house and fairly new car Nancy was driving? She will have debts to her last mintue on earth and will die with her credit cards maxed and an empty bank account and never comprehending no one owed her anything.


Take The Red Pill said...

This makes me SO glad that I paid off my own student loans while I was in the military, and subsequently never married nor fathered kids.
Ironically, I owe SO incredibly much to the women my age when I was young. I shudder to think what I was like in my young naive Blue Pill days, and what would've happened to me if they hadn't rejected me, ignored me, and otherwise treated me like dirt when I was in my teens and twenties. They ended up actually (and unintentionally) doing me the greatest favor that they could've done.

Wandering man said...

Play shitty games...
Win shitty prizes.

TroperA said...

What? You mean if my son wants to take up Underwater Basketweaving and I want a PhD in Library Science (ie: learning how to put books on a shelf in alphabetical order) that I might not be able to make enough money to pay for our degrees? But I'm a Liberal and SMRT! I'm supposed to be able to look down my nose at all of the uneducated rubes working construction and the Trades! The REAL wealth of this world is knowing you're better than everyone else, because you paid hundreds of thousands of dollars to sit in a room for four years and listen to Communist propaganda!

Tucanae Services said...

Last classed Boomer - 1964. Lets say 5yrs to get thru 'college', that's 1969. Its now 2017, so in 48 years a Boomer is not able to pay off the debt? Riiiiiiiight, I don't think so.

I took on some debt to finish my last year of 'college', BS in Computer Science, 1983. November 1985 I wrote my last check. Course I was prudent, all the money I received went for one thing -- Tuition. No Frat dues. No week long party in Palm Beach. No new $1000 iPhone X.

Those were the days.

Alex Bogatiryov said...

Thanks, this video motivated me to go make a student loan payment in advance, just $48,000 to go.

David Steward said...

So she's moving from Maryland, a blue state, to Wyoming, a red state, because it's "cheaper to live". Gee, I wonder which party she's going to vote for?