this post was submitted on 12 Jan 2024
484 points (95.0% liked)

News

23275 readers
3425 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago
MODERATORS
 

The great baby-boomer retirement wave is upon us. According to Census Bureau data, 44% of boomers are at retirement age and millions more are soon to join them. By 2030, the largest generation to enter retirement will all be older than 65.

The general assumption is that boomers will have a comfortable retirement. Coasting on their accumulated wealth from three decades as America's dominant economic force, boomers will sail off into their golden years to sip on margaritas on cruises and luxuriate in their well-appointed homes. After all, Federal Reserve data shows that while the 56 million Americans over 65 make up just 17% of the population, they hold more than half of America's wealth — $96.4 trillion.

But there's a flaw in the narrative of a sunny boomer retirement: A lot of older Americans are not set up for their later years. Yes, many members of the generation are loaded, but many more are not. Like every age cohort, there's significant wealth inequality among retirees — and it's gotten worse in the past decade. Despite holding more than half of the nation's wealth, many boomers don't have enough money to cover the costs of long-term care, and 43% of 55- to 64-year-olds had no retirement savings at all in 2022. That year, 30% of people over 65 were economically insecure, meaning they made less than $27,180 for a single person. And since younger boomers are less financially prepared for retirement than their older boomer siblings, the problem is bound to get worse.

As boomers continue to age out of the workforce, it's going to put strain on the healthcare system, government programs, and the economy. That means more young people are going to be financially responsible for their parents, more government spending will be allocated to older folks, and economic growth could slow.

you are viewing a single comment's thread
view the rest of the comments
[–] MamboGator@lemmy.world 2 points 10 months ago (1 children)

Even just taking you at your word, it still means that you believe that "VERY tiny percentage" who did support civil rights and stood up against conservative warmongering deserve to suffer alongside the rest of their generation, because they were born at the wrong time.

The simple end of it is that you're just an ageist prick who has chosen your boogieman that you'll pin all of your problems on and can take pleasure in the suffering of.

[–] stoly@lemmy.world -1 points 10 months ago (1 children)

This is the "you should feel bad for the people in Texas who didn't vote GOP" argument again. I can feel sad for those few souls while still thinking that Texas is ridiculous and focus my opinion towards the state as a whole being a shithole.

Really, though, it is unclear why you are so passionate on this subject except that perhaps you identify as part of that group and are taking it personally.

[–] MamboGator@lemmy.world 2 points 10 months ago

Not a boomer, sorry. I'm actually capable of feeling bad for the suffering of people that I don't identify with.

But you're right: Texas is a shit hole and yet we can feel bad for those who don't habitually vote for those who maintain it as a shit hole but have no ability to leave. So maybe you do understand nuance, so understand I was replying to someone telling boomers to "fuck themselves" in response to an article about how countless boomers are facing poverty as they retire. Those who are certainly weren't benefiting from a rigged system and pulling the ladder up from under them to make sure the rest of us are screwed too. And as I replied in another comment to you, only about half of boomers actually voted for Reagan, who is absolutely the president most responsible for the ultra-capitalist hell hole we're in today. So maybe extend some more of that empathy to other age groups that you give to geographic locations. Like I said, many of the boomers who will suffer have been screwed just as much as the rest of us, and a hell of a lot of them certainly didn't vote for it.

Lumping anyone together with the worst members of any arbitrary demographic they belong to, even if it was a (narrow) majority, is how irrational hatred persists.