Boomers' plan for retirement? They thought you had that covered
(Journal Sentinel) -- by Patrick McIlheran --
About 10,000 baby boomers a day will be retiring for the next 19 years, the Associated Press reports, without much knowing how it’s going to get paid for. I dare you to tell me you were surprised.
“The situation is extremely serious because baby boomers have not saved very effectively for retirement and are still retiring too early,” Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Research at the University of Pennsylvania, tells the AP.
The wire service then goes and finds some enlightening examples:
“Michael Vanatta, 61, of Vero Beach, Fla., is paying the price for being a boomer who enjoyed life without saving for the future. He put a daughter through college, but he also spent plenty of money on indulgences like dining out and the latest electronic gadgets.
"Vanatta was laid off last January from his $100,000-a-year job as a sales executive for a turf company. And with savings of just $5,000, he's on a budget for the first time. In April, he will start taking Social Security at age 62.
“ ‘If I'd been smarter and planned and had the bucks, I'd wait until 70,’ says Vanatta, who is divorced and rents an apartment. ‘It's my fault. For years I was making plenty of money and spending plenty of money.’”
It isn’t that they didn’t have a plan, then. They did. The plan is to let the people farther back in line pick up the tab...MORE...LINK
Chris Moore comments:
It's really not just the Boomers (b. 1946-1964). I would lay most of the blame at the feet of what I call the McCain-Cheney-Bush-Clinton generation, or "The Worst Generation," born roughly between 1935 and 1955. These are truly the most cowardly, greedy, politically and socially selfish and irresponsible, and shamelessly hypocritical Americans ever born.
They are the ones who allowed the Judeofascists to penetrate the highest levels of society and plunder the country -- actually joining in with them in its dismantlement as their Shyster Class and Government Class sold off and outsourced its economic base for peanuts in order to enrich itself via crony government and Wall Street. They partnered with the Judeofascists in the Mideast Wars for Israel starting with Bush I, moving along to Clinton's endless sanctions and bombings against Iraq and his bombing of Christian Serbia, the baiting, enabling and implementation of the 9/11 attacks in order to use them as a pretext for Bush/Cheney to lie America into full blown Mideast wars in Afghanistan, Iraq, and now Pakistan, also for Israel, which have further destroyed America.
This entire time, they held themselves up as "patriots" and "progressives," patting themselves on the back for how "tolerant" and "diverse" they were for their Judeophile liberalism and Judeo-Christian Zionism, what enviable "New World Men" (as in the Rush song, which Bill Clinton no doubt lip-synced to himself in the White House bathroom mirror every morning) they were, New World Men who had left "old Europe" behind, (as the pompous ass Donald Rumsfeld put it, implicitly referring to its anti-Semitism).
Yet, look at America now under their watch, and look at what they've done to the country -- essentially destroyed, squandered and plundered in less than 30 years what it took generations of Americans to build. As it turns out, "old Europe" (as epitomized by the traditional Christians who built America as well) knew a hell of a lot more about the world and about reality than they did.
And this is why they'll go down in American history is "The Worst Generation."
May they rot in hell.
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