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Millions of retirees can't afford basic living expenses


By tovarichpeter   Follow   Thu, 1 Mar 2012, 4:27am PST   989 views   8 comments
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http://www.latimes.com/business/money/la-fi-mo-retiree-living-expenses-20120301,0,2848072.story

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zzyzzx   Fri, 2 Mar 2012, 12:10am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

They have no business being "retired" if they can't afford basic living expenses. They need to get a damm job:

spicer77   Fri, 2 Mar 2012, 11:39am PST   Share   Quote   Permalink   Like   Dislike     Comment 2

Well, I keep seeing articles like this and I am flabbergasted. This generation lived and worked during the greatest, wealthiest, most generous, least unemployment years this country has ever seen.
AND THEY DON'T HAVE ANYTHING?
What a waste of a lifetime of work. My parents, inlaws, etc. made a fine living over these past decades, and THEY SAVED. And all came from very humble backgrounds and no college either.
Other than tragedy in these peoples lives (and obviously most of them didn't), there simply is no excuse.
Sorry, but I just had to vent.

jvolstad   Fri, 2 Mar 2012, 12:45pm PST   Share   Quote   Permalink   Like   Dislike     Comment 3

I deal with Veterans waiting for treatment at our local VAMC (I'm a VA Volunteer) that have to sleep in their cars. These are veterans who drive up from Central California area to Palo Alto.

TPB   Fri, 2 Mar 2012, 10:58pm PST   Share   Quote   Permalink   Like   Dislike     Comment 4

spicer77 says

Other than tragedy in these peoples lives (and obviously most of them didn't), there simply is no excuse.

Dude we've had businesses who demographic has been targeting Retirees on a fixed income. What's so hard to imagine about it?
From snake oil insurance, to financial vehicles all designed to pick Seniors up by the ankles and shake every dime into the hopper.
And that's just the honest business, that's not even mentioning, the Illegal unlicensed, and unsanctioned Senior robbers. The confidence folks.

Mick Russom   Sat, 3 Mar 2012, 4:26am PST   Share   Quote   Permalink   Like   Dislike     Comment 5

The USA is finished. We must all work until we die. The simple reason is the move we save in our 20s and 30s is worthless by the time we are 50 due to inflation. And the money we save at 50 is worthless by the time we are 70.

Welcome to debt slave inflationist USA.

Mick Russom   Sat, 3 Mar 2012, 4:29am PST   Share   Quote   Permalink   Like   Dislike     Comment 6

spicer77 says

made a fine living over these past decades, and THEY SAVED.

Inflation. Your friends saved a lot. Some save modest amounts in years past would be sufficient. But callous people like you, Gordon Gekko and Iwog, who drool over unearned income in the form of oppressive rents, have made living on a fixed income impossible.

spicer77   Mon, 5 Mar 2012, 3:44pm PST   Share   Quote   Permalink   Like   Dislike     Comment 7

No guys, I'm not buying it.
TRAGIC CASES ASIDE (many Veterans included, and these are truly the people we should be most concerned about), inflation has not turned the wealthiest generation of retirees into near homeless people.

Basic necessities? Most are people who simply didn't plan for their future. Between Medicare and SS, pretty much anyone can get by if they have made SOME attempt to be responsible and SAVE SOMETHING. And I said 'get by', not that high a standard, granted.
And the vast majority of Americans are not investors who lost it all or got fleeced by ScottTrade.
And DUH, all businesses seek to rip EVERYONE off.

Decades of the good life WASTED--jobs, increasing wages, cheap gas, it was pretty good times and what Americans today wouldn't give to have another 40 years like those.

Its today and future retirees who will have it bad.

zzyzzx   Wed, 7 Mar 2012, 12:22am PST   Share   Quote   Permalink   Like   Dislike     Comment 8

spicer77 says

Its today and future retirees who will have it bad.

spicer77 says

Basic necessities? Most are people who simply didn't plan for their future. Between Medicare and SS, pretty much anyone can get by if they have made SOME attempt to be responsible and SAVE SOMETHING. And I said 'get by', not that high a standard, granted.

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