Baby Boomers Going Bankrupt At RECORD Levels! What Will Happen When the Pensions Disappear?

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#retirement #401k #pension

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26 COMMENTS

  1. Well, I feel sorry for the Baby Boomers that voted to try and help the younger generation, we're financially responsible, and voted to stop the rich from getting to rich. But for the ones that keep voting for people that want to destroy the middle class, financially irresponsible, and wanted to take away the younger generation's future, they deserve everything their about to get

  2. Wow… this is scary for me as im 61 and still working and trying to start my own business to get away from my current occupation. And hearing this is eye opening, i use to have a savings but i spent it when i was in between jobs back in the 90s im trying to sit down and figure out if i can pull 10% of my biweekly income to save up to where i will hopefully have something to have to live on but will have to work some part time job like a greeter at Wal-Mart or something. In close ? Your tips are helpful . Thank you.

  3. Their going bankrupt because they're supporting their grown adult children and their worthless grand-kids (millennials). They're paying the rent, food and transport for their worthless grandkids who majored in feminist studies ,social work and fine arts with a major in photography and film.

  4. The Baby Boomers in Australia are all living the highlife, once they retire after they have paid off their house and bought two or three investment properties they buy camper vans and go travelling around Australia. This "grey nomad" lifestyle they now enjoy they jokingly label the SKI philosophy "Spending the kids inheritance". I really have no sympathy for them when the economy crashes and they lose everything, they are the most indulgent and selfish generation of all and if they are now in a financially vulnerable situation it is because of their greed.

  5. You failed to elaborate more on US government policies and corporations roll in causing the bankruptcy problem for baby boomers. You want to blame the baby boomers themselves for not saving or being better prepared for retirement but failed to look at economic factors which are the biggest driving force of the bankruptcies. I noticed that the bankruptcy started increasing for people in their mid 50's, why because companies want younger and healthier workers because it saves them on wages, sick pay and lowers their health insurance plan. It used to be that people could work for the same company their entire lives but that is not the case any more. You also failed to mention the fact that for three years of the Obama's presidency that social security recipients did not receive COLA raises, which may not seem like much but does to someone on a very fixed income. There are many more issues in play here than you just blaming it on baby boomers for not saving for retirement. Most times you do a good job of reporting the truth but failed in this video.

  6. [email protected] the boomers. If they didn't know the game was rigged by 1978, they should have damn well known by 1996. If you lived in southern Ontario in the 90s all you would have saw was factory closures and the whole sale destruction of any viable future. But hey it was all good, right? Retirement was still 20+ years away and satellite tv was becoming more and more affordable. So they can suffer.

  7. And those of us who have been prudent, saved, delayed gratification, took responsibility for our selves…..we're the ones that will be punished, stolen from to support the useless air sucker baby boomers who never thought tomorrow would come…. I hate our government because it punishes responsible people and rewards the shiftless pieces of human useless EATERS.

  8. I just watched a video that explains how the States are draining away MASSIVE amounts of social security money for things related to the family court system that have nothing to do with Social Security. Something along the lines of every $1 that courts spend on collecting money from divorced fathers, they then send their receipts to the Federal government and the Feds then reimburse those agency's to the tune of 66 cents on the dollar. So that is draining away social security even faster because money is being spend on things that have NOTHING TO DO with social security. Social Security is going to be bare in just a few years at this rate. With no available social security for Millions of Baby Boomers, they are ALL going to be declaring bankruptcy just one or two years into their retirement. Here's the video: https://www.youtube.com/watch?v=I-ydVmEJYcA&t=534s

  9. The Boomers are the most spoiled, irresponsible generation in US history. They inherited and grew up in a completely prosperous country (which they did nothing to build), they didn't appreciate what they had at all, they squeezed every benefit and every penny from the country and they left a total mess for their children and grand children to clean up. On their watch, the government was bought out by corporations, Americas infrastructure crumbled to ashes and an unfathomable amount of debt was racked up for their children to deal with. As a generation, they are best described as a plague of locusts…

  10. The ROTHCHILDS have been fleecing and stealing from us for hundreds of years. With a net worth probably worth approx 700 TRILLION THE ROTHCHILDS could wipe out poverty without impacting there own net worth with any significance.
    ROTHCHILDS are basically responsible for this disaster through controlling central banks playing with the common man.
    Let the ROTHCHILDS PAY.