The silver tsunami has begun - First boomer applies for Social Security

Discussion in 'Politics & Current Events' started by VFish, Oct 15, 2007.

  1. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    First boomer applies for Social Security

    The nation's "first" baby boomer, a retired teacher from New Jersey, applied for Social Security benefits Monday, signaling the start of an expected avalanche of applications from the post World War II generation.

    ...


    The beginning of the end.
     
  2. peledre

    peledre Member

    Mar 25, 2001
    Sioux Falls, SD
    Club:
    Chicago Fire
    Nat'l Team:
    United States
    Statisticians correct me if I'm wrong but there are now more Americans under the age of 18 than baby boomers.
     
  3. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    and nearly all of them either have, or are destined to have, low wage service industry jobs their whole lives. whats yer point. :D
     
  4. VFish

    VFish Member+

    Jan 7, 2001
    Atlanta, GA
    Club:
    Atlanta
    Doesn't matter, when this group reaches working age the ratio of retirees to workers will be down to 2:1.
     
  5. CrewDust

    CrewDust Member

    May 6, 1999
    Columbus, Ohio
    Club:
    Columbus Crew
    Nat'l Team:
    United States
    But not 8X's as many.
     
  6. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States
    who has "U.S. economy and life as we know it" in their ghoul pool?
     
  7. Attacking Minded

    Attacking Minded New Member

    Jun 22, 2002
    Actually, if we don't let immigration get out of control, they'll have high wage service jobs until the geezers run out of money.
     
  8. peledre

    peledre Member

    Mar 25, 2001
    Sioux Falls, SD
    Club:
    Chicago Fire
    Nat'l Team:
    United States
    I thought we were down to 3:1 ratio from 8:1 on how many workers it takes to support an SS recipient?
     
  9. speedcake

    speedcake Member

    Dec 2, 1999
    Tampa
    Club:
    FC Tampa Bay Rowdies
    Nat'l Team:
    United States

    Two Words: Too Late


    What is a high wage service job anymore?
     
  10. entropy

    entropy Member

    Aug 31, 2000
    People's Republic of Alexandria, VA
    Club:
    DC United
    Puh-leeze...You want me to open up a can of whoop-ass on your post? :D There are plenty of high wage service jobs...the service industry isn't comprised of only janitors and cashiers, you know.

    Anyway, my solution...Save America, Kill a Senior Citizen! Young people kill young people every day, so why not take a day off and kill old people?
     
  11. Attacking Minded

    Attacking Minded New Member

    Jun 22, 2002
    Wait until there are two workers per retiree. There will be plenty of high wage jobs.
     
  12. Sakatei

    Sakatei Member

    Jun 24, 2007
    They will never get my money!

    I plan to fake my death and move to the Bahamas. There I will live out my life in tax-free harmony.
     
  13. peledre

    peledre Member

    Mar 25, 2001
    Sioux Falls, SD
    Club:
    Chicago Fire
    Nat'l Team:
    United States
    Any call center job with a major bank that hasn't moved to India.
     
  14. topcatcole

    topcatcole BigSoccer Supporter

    Apr 26, 2003
    Washington DC
    Club:
    Arsenal FC
    Nat'l Team:
    United States
    :eek: Blanking out your avatar is a great start!! :D
     
  15. DoctorD

    DoctorD Member+

    Sep 29, 2002
    MidAtlantic
    Club:
    Philadelphia Union
    Nat'l Team:
    United States
    Yep. People born from 1940 to 1960 had the good life.

    Especially as they blew their disposable income and didn't save enough for retirement.

    Selfish pricks.
     
  16. Sakatei

    Sakatei Member

    Jun 24, 2007
    There are precedents.

    [​IMG]
     
  17. saosebastiao

    saosebastiao New Member

    May 22, 2005
    You aren't allowed to call them selfish. Only the rich are selfish. The poor are "needy".
     
  18. MtMike

    MtMike Member+

    Nov 18, 1999
    the 417
    Club:
    Sporting Kansas City
    Nat'l Team:
    United States
    I guess it would be considered bad timing to point out all the aborted babies that could be working paying for Social Security as well?
     
  19. Wingtips1

    Wingtips1 Member+

    May 3, 2004
    02116
    Club:
    Liverpool FC
    but how many of those aborted babies would have been to single mothers who were unable to care for them in poverty, putting them on the gov't teet for life?
     
  20. Wingtips1

    Wingtips1 Member+

    May 3, 2004
    02116
    Club:
    Liverpool FC
    http://www.cnbc.com/id/21345611

     
  21. Flyin Ryan

    Flyin Ryan Member

    May 13, 2004
    Nat'l Team:
    United States
    Briefly on CNBC earlier today they had a financial analyst talking about preparing for retirement and how people aren't saving enough.

    He stated it used to be you worked from 18 to 65 and were only alive for 2 or 3 years afterward.

    It's now that people want to work from 22 to 55 and people expect that money to last 40 years or so after retirement.

    Retirement money lasting longer than the time you worked. Good luck with that. At some point there will have to be a nationwide reckoning on this.
     
  22. The Gribbler

    The Gribbler Member

    Jul 14, 1999
    Cedar Hill, Texas
    Club:
    FC Dallas
    Nat'l Team:
    United States
    Good news for me job-wise. Especially in my sector of work.
     
  23. argentine soccer fan

    Staff Member

    Jan 18, 2001
    San Francisco Bay Area
    Club:
    CA Boca Juniors
    Nat'l Team:
    Argentina
    I'm not really counting on Social Security for my retirement. If it's there, great.

    But also I wonder, what will happen when all the boomers take their retirement funds out of the stock market.

    Can the stock market handle it? What percentage of the overall market are retirement funds from baby boomers?
     
  24. Attacking Minded

    Attacking Minded New Member

    Jun 22, 2002
    That's my plan although I save 19% of my paycheck in my 401k, have almost a quarter million in there now and am about 15 years away from retirement. This all depnds on, of course, the college tuition costs for my three kids.
     
  25. Attacking Minded

    Attacking Minded New Member

    Jun 22, 2002
    Exactly. If you are in an industry that serves the elderly, you'll be spending their 401k.
    Lots. That's why a lot of my money is in foreign stocks.

    We're already seeing the inflationary effects of the dollar moving around although we haven't yet seen the effects on working wages. I believe this is large part due to illegal immigration.
     

Share This Page