<p>It is silly to refer to social security and medicare as assets. My health insurance is not an assets, it is an expense. Medicare is health insurance as well. My social security taxes are not paid into an account for my later use. They are used to pay existing retirees. Congress can reduce or eliminate or increase the age of qualification for social security and medicare without providing me any compensation. If they were assets, the fifth amendment would require just compensation before the government took them from me.</p>
<p>20 years ago, the younger demographic was better off than that same demographic is today. Those over 65 are better off than that demographic was 20 years ago. </p>
<p>In other words, our children are worse off and are likely to be worse off than we were. We were, some of us, in the 35 and younger group 20 years ago. </p>
<p>However, the elderly are not so poor as they used to be.</p>
<p>That’s what the Pew study shows.</p>
<p>I tell you what razorsharp, </p>
<p>When you are old enough to receive SS and Medicare don’t participate. </p>
<p>They aren’t assets so you won’t miss anything.</p>
<p>“In other words, our children are worse off and are likely to be worse off than we were. We were, some of us, in the 35 and younger group 20 years ago.”</p>
<p>I think most should be more concerned with their own futures instead of their kids particularly if they don’t want to be a burden to their children when they grow old.</p>
<p>TatinG, it doesn’t matter.</p>
<p>It matters because those younger people will be paying for our Social Security. I’d like that group to be earning good salaries. If they see themselves not as well off as those they are supporting with their FICA taxes, that spells trouble for the system as it is structured now. That and there will be fewer workers supporting more retirees than when Social Security was adopted.</p>
<p>They are as well off…</p>
<p>They are better off…</p>
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<p>That’s the problem. The more the elderly receive today in social security and medicare the less money younger generations have for their own needs. The burden on younger generations increases as the elderly seek every increasing social security and medicare payments.</p>
<p>The average household wealth of a household with somebody 65 is 179,000 according to TatinG’s link.</p>
<p>How long is 179,000 going to last?</p>
<p>“That’s the problem. The more the elderly receive today in social security and medicare the less money younger generations have for their own needs.”</p>
<p>not when those younger generations are paying for their parents’ living expenses and health care because their parents don’t have the income to do it themselves.</p>
<p>honestly… i wish that the house republicans (and their cowardly DINO friends) would all just board a plane that’s headed full speed ahead into mount rushmore! then let’s just have a fresh start.</p>
<p>We are doing a pretty good job keeping politics out and let’s keep it that way.</p>
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<p>I was sort of hoping the party of the takers would do that first so we could stop stealing from our children and restore the economic engine of this country.</p>
<p>I like the guy that paid for his kids’ education out of funds that he had intended for retirement. A divorce and stock market crash further hurt his retirement. The financial adviser said that he’d have to work until 75.</p>
<p>I hope I am healthy at 75.</p>
<p>Interesting story. Wasn’t that the guy who was moderating?</p>
<p>The section on introducing employees to 401Ks is great. Who has any questions? Every hand goes up. My son is smart but he sees all of the literature and hands it to me to look over and make decisions for him. There are a lot of choices and the documents throw walls of text at you. He’s done some trading, knows some finance and accounting but he’d much rather be enjoying his work at his job than doing this - or most other HR-related stuff.</p>
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<p>You walk 5 miles a day. That’s probably better than 2/3rd of the population.</p>
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<p>I’m not sure. They cut from showing him on the street with his coat on to a guy in an office with a shirt and tie looking down at papers from a financial adviser. I wasn’t sure it was the same person. Also, he didn’t look as old as the age described.</p>
<p>I’m pretty certain its the same guy. Last week, I started looking at some of the fees in my 401k and my wife’s 403 plans. On the 403, it has positive and negative fund expenses in the transaction history. I’m not certain what the positive fund expenses are? On my 401k, it doesn’t spell out the fund expenses in the transaction history or at least I can’t find them.</p>
<p>Actually, I have run the equivalent of 10 miles a day every day this year except for 2 days. I am not walking as much. Walking might be better for longevity. I don’t know.</p>
<p>Found the show great BCEagle91. </p>
<p>My daughter was a financial math major. I asked her what her fees were in her 401k and she said she doesn’t know and she doesn’t care that much. </p>
<p>Whatever…</p>
<p>The news guy was told he will have to work until he was 70 and then work part time another 5 years until he is 75. He didn’t look that happy about it.</p>
<p>That woman who lost her job and has pretty much nothing was sad.</p>
<p>Those teachers that were celebrating their net worth until the 2000 drop were interesting.</p>
<p>The guy who was studying for a phd by looking at fees of all these
funds…that sounds boring to me. </p>
<p>And that heavy set couple…they know they are F…</p>
<p>The JPM guy had no answer about the underperformance of managed<br>
funds. </p>
<p>Bogle was great as usual. Man…is he old.</p>
<p>Then there was the guy who said if you want an income of 100,000 a year, you better save 1.5 million.</p>
<p>I wonder what the size of the audience is for Frontline.
The Frontline show about the guy who stopped the tank in Tiananmen Square was one of the best shows ever.</p>