Baby Boomers Retiring Knowledge Base
How much of the current unemployment figures are the expected rise from baby boomers retiring? Are the current unemployment expansions within a properly reasoned expectation of retirements? Yes, they drop out if they do not seek re-employment... Many go on to seek work when they retire as a second income provided their retirement plan does not bisbar it. So we need to determine what percentages of those who typically retire seek re-employment and compare those to current retiring workers.
Are we going to be in trouble because of baby boomers retiring? Seems like all the talent is retiring, if not now , within the next few years. I don't see as much new talent being hired. What's going to happen? Will the workload go up for those that can do a particular job well. Or will companies just hire many incompetent people and expect things to be smooth sailing. What happened to OTJT and apprenticeship programs? I think we are doomed. All jobs and work will be offloaded to China and India. Or?
Baby boomers are retiring in droves right when bush has brought America to the brink the Great Depression 2... Medical costs are already unaffordable for seniors and getting worse. Energy costs are skyrocketing. People are losing their homes in the housing crisis. The government is secretly stealing people's savings with their policy of devaluing the dollar. Bush is squandering $12 billion a month in Iraq and is looking for any excuse to start a new war with Iran. Meanwhile, China and India are coming online as economic superpowers. Hard times are ahead for America, aren't they?
What percentage of baby boomers will want to work past the age of 65? I figure up to 75%. Many out of necessity and the rest out of desire. Most retirees will want to work at least part time because they need to for basic necessities or they want to for life style enhancement or to serve society in some way. That's why I don't believe the projections that there will be a labor shortage when baby boomers retire. There may be a shortage in some areas, but not in most. There probably will be a shortage of part time work that baby boomers would be willing to do.
Are baby boomers going to break the stock market? I know this might seem overreactive. But If all these baby boomers retire in huge droves, and all demand their retirement all at once. Could that cause financial problems for retirement funds and the stock market?
How to handle these baby boomers? When the generation of baby boomers retire, we're (my generation) are going to fill the gap, and we need to think of a way to take care of all these old people, more elderly than there ever was in human history. Give us some sort of investment now, so these people can benifit from it later. Not sure how social security will hold up though. What are your thoughts?
Could immigration fix the labour and tax shortages once the baby boomers start retiring in 2-5 years? I live in Australia, we have a measly 30,000 immigrants each year. Australia in land area is about the same sizea as the USA who has 300million people, we have 21million, though 80%+ of australia is too dry to live in. In saying that, there are towns like Bathurst, Wagga Wagga, Canberra and Tamworth and many others that could take 5million each with the right planning. When the baby boomers start retiring in a few years time, there is going to be a huge strain on the federal budget. Wouldn't it be a good idea to open the gates wide open to immigration and let these hard working, potentially tax paying, asylum seekers in? I just don't get the snobby attitude, we are so rich compared to other countries. what are your thoughts?
What ideas came be made to save social security? Just see Social Security in the next 10 years eating up more tax dollars because of the baby boomers retiring and the pay-in from are less than the pay-outs, but I have seen academic empiercal studies done on social security, from Privization to higher taxation, means testing. How as much as a society should spend on social security, and to shore it up cut other programs, raise tax limit from 90k to 140k, or even reduce benefits given out to the program. I dont see a magical solutions to fix it. The Medicare problem is even worse shape in the future. We as Americans gotta make choices higher taxes for the same benefits, or reduce benefit keep the taxes the same. I see the solution is kind of mix of democrat and republican idea.
How can we deal with the coming Underpopulation disaster? For years, birthrates in Western countries have been sub-replacement fertility (and barely replacement in the US). This goes back about 40 years. At the same time, the Muslims (who already hate us, which is a result of 50+ years of foolish foreign policy) have very strong fertility rates. Might the Muslims decide to invade some Western countries and engage in nation-building about 50 years from now? Or might they just decide to conquer us and create a World Islamic Government? The Muslims are going to run Europe in a few decades, as a result of Europe's underpopulation. Even if the Muslims don't invade, underpopulation could severely harm our economy. If you think outsourcing is a problem now, wait until there are alot fewer American workers in a few years when the Baby Boomers retire. How are going to deal with Underpopulation in order to prevent Western Civilization from being wiped out?
Could immigration fix the labour and tax shortages once the baby boomers start retiring in 2-5 years? I live in Australia, we have a measly 30,000 immigrants each year. Australia in land area is about the same sizea as the USA who has 300million people, we have 21million, though 80%+ of australia is too dry to live in. In saying that, there are towns like Bathurst, Wagga Wagga, Canberra and Tamworth and many others that could take 5million each with the right planning. When the baby boomers start retiring in a few years time, there is going to be a huge strain on the federal budget. Wouldn't it be a good idea to open the gates wide open to immigration and let these hard working, potentially tax paying, asylum seekers in? I just don't get the snobby attitude, we are so rich compared to other countries. what are your thoughts?
Could immigration fix the labour and tax shortages when the baby boomers start retiring in 2-5years? I live in Australia, we have a measly 30,000 immigrants each year. Australia in land area is about the same sizea as the USA who has 300million people, we have 21million, though 80%+ of australia is too dry to live in. In saying that, there are towns like Bathurst, Wagga Wagga, Canberra and Tamworth and many others that could take 5million each with the right planning. When the baby boomers start retiring in a few years time, there is going to be a huge strain on the federal budget. Wouldn't it be a good idea to open the gates wide open to immigration and let these hard working, potentially tax paying, asylum seekers in? I just don't get the snobby attitude, we are so rich compared to other countries. what are your thoughts?
Now that the baby boomers are beginning to retire, what effect does this have on the recession? Social Security: It will grow by 1 million to 2 million beneficiaries a year from 2008 through 2032. Medicare: More than 1 million a year will enroll starting in 2011, when the first baby boomer turns 65. Retirement Programs: Congress has not set aside money to pay military and civil servant pensions or health care for retirees. These unfunded obligations have increased an average of $300 billion a year since 2003 and now stand at $5.3 trillion.
What do we do about the Social Security running out with the Baby Boomers starting to retire? And with these young Men & Woman coming home from the War disabled before they had a chance to build a Nest egg to fall back on. There are more Men & women coming home Disabled in this War then there was in Vietnam and Korea but together It is very hard to make a living on SSDI alone and with the high cost of everything that is Associated with being disabled. These Men & Woman gave a lot for there Country it is time we do more for them if everyone was taxed the same across the board on all income a flat tax of 15% for everyone no right off and not stop paying after $90,000. There are a lot of people in this Country that make more then $90,000 and most have very good tax advisors that find all the loop holes and right offs. They say they pay more others say they pay less but a flat tax no deductions or right offs it would be fair for all and SSI would not be in trouble of running out of mone I am sure I am going to get a lot of negitive remarks here from people that are not disabled
Are we going to be tax slaves in the U.S. once the Baby Boomers retire? Or are we just doomed? It seems the budgetary debacles taking place in many states right now (not least of all California) are just a shadow of things to come once Baby Boomers curtail their contributions to local and state tax bases and begin drawing on Social Security and Medicare. The public school systems are getting worse, not better, because the recession has led to budgetary cuts. The million or more students who drop out every year are a million low-wage/no-wage earners who won’t contribute to the narrowing tax base in the future (and we’ve lost any opportunity we had to improve the schools before the Baby Boomers take retirement). Once they do begin to retire, aren’t those of us left in the workforce and fortunate enough to have a college degree (or unfortunate enough, depending on how you look at it) going to end up paying Scandinavian-variety taxes just to keep the system from imploding?
do u agree or not than the 60 million of baby boomers retiring should be replaced by immigrants !? ? is it possible to replace them with the actual immigration quotas in place !??? which countries would u choose to replace them from assuming u answered yes to the first question and why ??? please do not ignore than every first world country in the world is about to lose population in the following years , some like Italy are expected to lose as much as 25 percent of their population , therefor they too will see their demographic changing or at least expected to do so . i just wanted to clarify than i KNOW there is not enough people to replace tha baby boomers , anyone who wants to live in LALA land please feel free to do so , there is so many articles and studies which show than the 60 millions which will retire will be hard to replace . so stick to the question , anyways if u want LALA land so be it for U , i need serious knowledgable answers .
When baby-boomers retire who will pay the taxes, the middle-class? the wealthy will be retired? As 77 million members of the Baby Boom generation begin to retire, America is about to experience one of the most dramatic economic, sociological and demographic changes in its history. The institutions we have relied upon in the past are completely unprepared for what lies ahead. Politicians, the national news media and the general public have become increasingly aware that our federal entitlement programs are about to be swamped. Social Security, Medicare and Medicaid have made trillions of dollars of explicit and implicit unfunded promises. In fact, by 2030 (about the midpoint of the baby boomers' retirement years), we will have to double every tax rate or cut every benefit in half. But our problems do not end there. Federal, state and local governments have made $5 trillion in promises (many of which are unfunded) to civil service workers. Corporate America owes about $450 billion in pension promises and $350 billion in post-retirement health care promises that are also unfunded. To make matters worse, the instruments we have created to help individuals save for their own retirement - principally through 401(k) accounts — are also not working well. In general, people are not saving enough, and they are not prudently investing the funds they do save. Behind our inadequate institutions are inadequate public policies. For example: * On balance, the tax law encourages current consumption, but discourages saving for consumption during retirement. * Even more important, the tax law encourages overconsumption of health care before retirement, but discourages saving for what are likely to be greater health needs later in life. * The American answer to the European-style welfare state has traditionally been employer-provided benefits. Yet: * Unwise public policies are encouraging large employers to abandon pension and post-retirement health care promises made to their employees. * Other policies are preventing employers from helping employees make their own provision for income and health care during the retirement years. * The policies that are most inadequate for the baby boomers' retirement years are those affecting early retirees. In general: * People who retire early will find that their opportunities to save are much more restricted than those available to people still in the workforce. * They will find that health insurance is not only more costly when purchased by individuals, but the insurance (unlike insurance obtained at work) must be purchased with after-tax dollars. * Once they begin drawing Social Security, they will discover that if they earn additional income, say by working part-time, they will face draconian effective tax rates - taking as much as two-thirds of what they earn. * And even if they don't work for wages, they will discover that the tax rates on their pension income and IRA withdrawals are much higher than the rates paid by younger taxpayers at the same income level.
Unemployment - Baby Boomers? With the Baby Boomers Retiring and/or Dying off, won't there still be a shortage of jobs in America? Yes, unskilled labor might never be in short supply as long as illegals can cross the Rio. But what about Skilled labor? Do we have enough Doctors, Lawyers, Carpenters, Engineers, etc? Once 70/million boomers of the 150/million labor force retire or die, there will be a huge hole left unfilled.
What would happen to Mexico when millions of American migrate there (boomers retiring to better climate)? Plunging into Baja Leading the charge south of the border, Southland buyers are snatching up bargain-priced retirement or second homes on the beach. By Ann Brenoff, Times Staff Writer October 22, 2006 THE trick to buying a home in Mexico, say those who have done it, is to not leave your brain at the border. The days of writing up deals on bar napkins and sealing them with a handshake and a shot of tequila are over — or should be, experts say. That said, you can buy an oceanfront home in Baja for about one-third of what it would cost 30 minutes north of the border. And that alone was probably enough motivation for the 1.5 million Americans who own homes in Mexico today, according to estimates from the Mexico Assn. of Real Estate Professionals. The number is expected to jump to 12 million within 20 years as more baby boomers retire south of the border.
Greenspan discussed yesterday, on NPR, his concern for medicare expenses as the baby boomers retire? If this is true, and I suspect it is, how will we afford universal health care Greenspan went on to say that the only practical solution is to eliminate entitlement programs such as medicare to anyone that can afford it: the wealthy and upper income/asset retired americans. Montreux your assumption is totally incorrect. Even at 10 billion a month, the war in Iraq is a miniscule amount when compared to Medicare, medicaid, which stand at about 800 BILLION dollars annually, right now. Kick in SS, and it is 1.4 TRILLION dollars annually.
Baby Boomers...? What do you think will happen to the generation entering the business workforce as the baby boomers begin to retire???? real opinions please...
Is someone intentionally killing the stock market so baby boomers cannot retire? My aunt was telling me this theory, and haven't thought about it. But the rumor is that there aren't enough funds in Social Security any more to support a mass exodus of boomers from employment. So the rise in fuel prices and the plummeting of their 401k will force most of them to keep working well into their sixties or beyond.
Is the world economic mess aimed at the baby boomers? As we reach the age when a lot of the baby boomers are set to retire, and also set to start taking back some of the dollars we had invested, have the banks kicked the bucket from under us. Or maybe a coincidence?
Age 21, male, single, conservative-libertarian: Which of these cities are right for me? I will have my B.A. very soon and I'm very interested in working in the federal government, as there are many job openings becoming available due to baby boomers retiring. I currently live in Kentucky, near Louisville, and have a slight accent, just enough to charm the out-of-state ladies but I've never had anybody call me a "hick." I want to leave Kentucky and travel, and as a federal employee and a single man, I might well have the ability to do that. I have a nice personality, not in a rush to find my Mrs. Right (very "un-Kentucky," since 99.4% of my peers are already married or engaged,) and laid-back. I want to be around genuinely nice and chill people. I like segments of ideas from Joe Lieberman, Neal Boortz, and Rush Limbaugh, so I'm a conservative but not fringe. Which of these cities I'm considering are right for me? Seattle-Tacoma Portland, OR Austin Fort Worth-Arlington Houston Atlanta Charlotte Greenville/Upstate SC All serious input greatly appreciated!
Will the baby boomers kill Social Security? It's my opinion that Social Security will cease to exist after the baby boomers retire. What does everyone else think? http://bbsphere.com/phpbb/viewtopic.php?p=1164#1164 Just your such a Democrat pawn. SO your saying Hillary Clinton has the answer. Well what is it then? I never hear her articulate anything other then the Iraq war is a problem. Both parties have failed us on SS and if you can't see that then your the moron. So your saying Republicans killed SS? You mean they caused the baby boom? Stop getting all politicized and try and add some good thought about what happened and what we can do. The problem with SS is simply too many people drawing from it at the same time. So how do we fix it? I say baby boomers are selfish, because they are. They are not trying to fix this problem for the next generation. Nothing in life is perfect and neither is a solution for SS problems but something has to be done to make sure this program is still viable for future generations. Justin your such a Democrat pawn. SO your saying Hillary Clinton has the answer. Well what is it then? I never hear her articulate anything other then the Iraq war is a problem. Both parties have failed us on SS and if you can't see that then your the moron. So your saying Republicans killed SS? You mean they caused the baby boom? Stop getting all politicized and try and add some good thought about what happened and what we can do. The problem with SS is simply too many people drawing from it at the same time. So how do we fix it? I say baby boomers are selfish, because they are. They are not trying to fix this problem for the next generation. Nothing in life is perfect and neither is a solution for SS problems but something has to be done to make sure this program is still viable for future generations.
north american baby boomers? for several years now, the generation known as baby boomers has been retiring. and there are a lot of baby boomers not yet retired. why is it that in north american news it is so widely discussed as to what these boomers are going to 'cost the country', when in fact these same folks have been paying their way all their working years? not only in taxes, medical plans, social programs, aid to foreign countries and any other program the government comes up with to take more money out of their paychecks, but also in the fact that this age group sent men and women off to fight in a world war? many great inventions came from this age group, many great works of art, literature, came from this age group. they have paid their dues over and over again, so why does north american media insist on portraying them as a scourge on society? they are honorable everyday working class folk who have worked hard all their lives & deserve the respect of their country for all their accomplishments. even tho libsr4kids is obviously filled with hatred and bitterness he is absolutely right and i stand corrected, baby boomers did not fight in ww11. their parents did. apologies for the error. but the boomers have pulled their weight financially and have done a great deal of good in this world. and do not deserve the media pummeling they are getting. and while some did spit on vets, those very vets were boomers themselves. so....two sides to every story folks. and obviously he and i are on opposing sides. cheers to all! i didn't claim to negate the 'facts' you chose to put down as an answer. i didn't call you names either. i simply ask why when good everyday folk have worked hard all their lives, paid their way, and now when they are ready to retire the media badgers them? its a simple question and pulling out all these hate-filled facts that you have do not answer the question. every generation has its share of fools, and bad people, but on the whole the boomers worked hard for their money. AGAIN, the question is simple, they have worked hard all their lives for their money and now that they are ready to retire the media is on the attack. and AGAIN, every generation has their fools and their bad guys, but for the most part the boomer generation were decent hardworking people. you can name as many bad people as you like but it doesn't change the facts. the boomers work and paid their way on the whole and deserve to enjoy their retirement before i close i want to say to libsr4kids, and angry american, i hope you appreciate the fact that boomers fought wars to give you the freedom to publicly voice your opinions. no, they didn't fight in either w.w. but they have fought many wars. they have fought on the streets of your country, and mine, as well as in foreign lands. they have fought to give you the many freedoms that most of us take for granted. for example the freedom of speech! and for you to seek out the stats on the minority of american boomers and past generations as well as citizens of other countries to use as just cause for your campaign of bitterness is truly pathetic. boomers deserve to retire without all the media abuse. they have paid their way in more ways than one and i wish them all happy retirement. one last comment libsr4kids, i've enjoyed sparring with you! stay cool! what a surprise. a gen-xer! speaking of a wasted generation!
more info added: Democrats, where will all the tax money for heath care come from when all the wealthy baby bo Democrats, where will all the tax money for heath care come from when all the wealthy baby boomers retire? Sorry for repeating myself but as most of you don’t understand that the top 10-15 percent pay 70 percent of the taxes. I'm middleclass and paid only 8 percent tax rate. The wealthy tax rates fall between 35-40 percent. Look it up at IRS.gov 70 percent of the baby boomers is supporting the budget right now. They start retiring next year, and 10 years from now there will be more retired than working. That means the rest of us will have our taxes raised to make up for the loss Baby boomers are the top 10-15 percent of wealthy. When they retire there will be the middleclass to pay for the taxes for the boomers. Keep voting Democrat and don’t be surprised when 50percent of your paycheck is gone.
If I know ways to help baby boomers (now seniors) in their financial crises, would you help them? There are 76 million baby boomers going through major financial crises and there about 176,000 of us who are qualified to help them. Because of this, retirement age has now adjusted to age 67, going 70. If we won't help resove this issue, we might end up at age 75 or more and still working because we cannot afford to retire. Your money in the bank gives you 1-2% interest on a savings account... inflation rate is now 3.9% last time I checked. Your savings is now about negative (-)1.9%. Lets not make is worse. Join a crusade that helps families and individuals. Learn more.
are baby boomers aware that immigrants from Latino America will pay for their benefits? i am sure this is not the case with all the baby boomers but some seem to ignore that they are about to retire and that an America whit out the latin immigrants would not be able to pay any of the benefits they will need so much in the future . latin Americans ( legal and ilegal which need to be legalized ) will keep America being the greatest and the strongest . another thing that i would like to add is that estatistically second generations of immigrants pay more taxes than any other group . if u look for this estatistics u will find them . latin america * i am also sure not all baby boomers think that way or that most do . i think most do understand this :) yes neddie they do . there is millions of dollars from so called invisible taxers which never ask for their money back . http://www.lulac.org/advocacy/issues/immigration/truth.html answer to cathy L : just to let u know during WW11 the mexican immigrants not law breakers as u call them were working for america and Mexico as a country was fighting along USA agains the nazies . about the other war u know very well it was never supose to happen but yes many undocumented soldiers did fight also and latter were given the chance to become legal . did u hear about bush wanting to grant legal status to the undocumented soldiers fighting in iraq ??? ( they will also grant legal status to their families if they haven't done it already .
leave the US due to looming fiscal disaster? I am seriously thinking about leaving the US due to the looming financial mess on the horizon. I'm a 25 year old professional, and with the baby boomers retiring soon Social Security and Medicare will become enormous burdens on the fewer workers who remain in the workforce (i.e., me) to pay taxes. The only ways to balance the budget, that I see, are through higher taxes on my wages, or a devaluation of the dollar. Either way my standard of living will take a hit. So, I'm thinking of getting out now- before the music stops and the party crashes- and establishing a new life overseas in a country with more stable prospects. Why should I stay here and work hard and pay taxes to fund other people's retirements when those programs won't be around when I need them? My generation is going to have to pay for the promises made to the baby boomer generation- pensions, etc.- but companies no longer offer pensions for us. So what about leaving the country before the train wrecks?
Changing from Baby Boomers to Gen X & Y Workforce? How will the Baby boomer generation feel about couching the Gen X & Y workers in businesses and institutions? Also, What will happen when all the knowledge of people that have been at the buisnesses or institutuins retire and walk out of the doors?
Baby Boomers in a Gen Y world? I have about 10 years left in the work world before retiring. I don't inspire to become a VP or CEO.. just want to do my time. With Gen Y taking over the new work world what are the secrets of getting along and not get letting go...?
Should we have a warmonger tax? What are your thoughts.. Should the people resposible for this war have to pay for it with a warmonger tax?..... Should the assets of the news media, political parties and politicians who pushed for it be confiscated and sold?.... Keep in mind that with the baby boomers retiring soon, 8.5 trillion dollars in dept and over 20,000 wounded soldiers... drastic measures will have to be taken. (can you guess how much it will cost for all the occupational, physical and psychological theripies they will need? the disability payments and all of the other social programs republicans hate so much... How much will they cost?
Do you think that our congress believes they can solve the social security problem with Mexicans? Social security is in trouble. Baby boomers retiring will only have two workers to pay for their social security. Congress instead of facing the problem wants to import labor at cheap prices to fill the coffers to pay out the social security. This IS the reason they are so intent on having all the illegals legal and allowing them to bring their families. Is this an acceptable means of dealing with the problem?
Age 21, male, single, conservative/libertarian: which cities are right for me? I will have my B.A. very soon and I'm very interested in working in the federal government, as there are many job openings becoming available due to baby boomers retiring. I currently live in Kentucky, near Louisville, and have a slight accent, just enough to charm the out-of-state ladies but I've never had anybody call me a "hick." I want to leave Kentucky and travel, and as a federal employee and a single man, I might well have the ability to do that. I have a nice personality, not in a rush to find my Mrs. Right (very "un-Kentucky," since 99.4% of my peers are already married or engaged,) and laid-back. I want to be around genuinely nice and chill people. I like segments of ideas from Joe Lieberman, Neal Boortz, and Rush Limbaugh, so I'm a conservative but not fringe. Which of these cities I'm considering are right for me? Seattle-Tacoma Portland, OR Austin Fort Worth-Arlington Houston Atlanta Charlotte Greenville/Upstate SC All serious input greatly appreciated!
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