VIDEO ON MSN MONEY
Dear Tired of Bleeding and Sacrificing for Baby Boomers
The baby boomers are your parents and/or grandparents so stop trying to create a war between your generation and the baby boomers. In the old days, the generations lived together for financial reasons and unless your generation wants to go back to living under the same roof as your parents and/or grandparents, your generation better start figuring out a way to take care of your parents and grandparents in their old age by shoring up Social Security.
So grow up, stop whining and stop creating wars. The media has aready created a war against the wealthy and now it's trying to create a war against baby boomers who gave you equal rights for all people so your daughters can be doctors, lawyers, policeman, or whatever they choose to be. They got rid of the draft so YOU don't have to go to a real (not media manufactured) war unless it's your choice. WE stopped a war. Has your generation? Read your history.
I'm sure your generation enjoyed the perks your parents handed you as baby boomers of a better lifestyle than they had.
Stop complaining, stop the blaming, and do what the baby boomers did and change the world.
I don't agree with one part ...... I'm going to collect for more years than I worked.
Lets see I've worked and paid in for 44 years and I will start collecting at 66 and 4 months so I'm going to live to be 110 years old !!!!!!!!!!!
I am 67 and I still work fulltime. I love my job and my paycheck. I resent any punk telling me that I am a user or that I live to get Social Security and Medicare. What the hell can either do for me?
No, I didn't save, I took care of my children instead and I do not expect them to take care of me, that really isn't their job. I have never gotten anything or expected anything form the government except that they don't mess over Soacial Security, Medicare, Student Loans, start wars that we should not be in, go assist in a foreign nation like Viet Nam when they need to fight their own battles, or have a Congress that doeas nothing and we taxpayers have to pay them.
So as you can see, they have totally blown all of the above. I have paid into SS since 1967 and to hear some crazed fool like Ryan saying it's an entitlement and I'm taking something I didn't work for, pay into and somehow I'm a "TAKER" and not a "Maker" just makes me want to beat his ****.
He is the one who has NEVER had a job. He is the one who got his education from his gather's Social Security checks, but I'm a Taker. This boy is a real idiot and a danger to America.
"HOW BOOMERS WIL REINVENT RETIREMENT"
1) Live in poverty
2) Work till you die
After working for 45 years I'm finally eligible to retire but can't because I'm now helping my college educated kids who can't find decent paying jobs in their fields.
Our taxes are again not fair to the people. I believe we should eliminate the IRS altogether. Yes, just fire them.
I do believe in paying my FAIR SHARE, as we need to pay for defense, etc., but listen up. How do all of you younger folks in the workforce feel about uncle sugar making you pay taxes again on your retirement withdrawals, and then make you pay a 50% penalty ?!!? if you don't ? When you're 701/2 years old and need it most ! Disgusting and outrageous! In fact; criminal.
I'd really like to see all of the Washington D.C. government politicians removed from same.
Trust God and your family.
I was laid off in 2010 from a job I worked at for 11 years when some young exec with something to prove decided India needed more American jobs. Fortunately, I have specialized skills and was able to find work about a month later, just not making as much as the job I was laid off from (my new job was with a much smaller company than the one I had been laid off from).
I was in good financial shape with no outstanding credit card balances, car paid off and the only outstanding loan I had was the mortgage on my little ranch house. So even finding a job paying less only hurt for a little while but the important thing was I didn't lose my house and even was able to refinance my mortgage at a much lower rate, taking advantage of a free refinance deal offered by my mortgage company .
I love my new job but I hate their 401k plan. I have a finance background though I hadn't worked in the financial sector for 20 years but the funds my new job offered on their 401k plan were the crappiest mutual funds I've ever seen. I asked the company's head of accounting is that all the funds I can choose from in their 401k plan and he said, “that's it”. The head of the accounting dept. at the new place was not too happy with me when I told him the 401K offerings were nothing but s—t and I wouldn’t put 50 cents on any of those funds.
So instead of signing up for that awful 401k plan the new place had and since they hadn’t offered any contribution matching in years, I opened my own IRA account, had my 401k funds from my old company transferred into it, researched and found a bunch of funds I liked and started investing into them each month without fail. Well my own IRA has outperformed even my old companies' 401k plan and definitely outperformed the funds at my new company and my own IRA has been profitable even during the slow recovery.
I don't recommend this to everyone unless you're used to investing but I picked low to moderate risk mutual funds. You do have to research though and pick the funds that weren't too shaken up by the economic downturn. Be sure to also itemize your income taxes to take advantage of the tax shelter from your contributions since these are tax exempt until you start withdrawing. Any good income tax program will do this for you. Find help if you need to but stay away from the “big chiefs” who only are interested in making money for themselves and don’t care if their clients make money or not.
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They are expected to take in a record $2.25 billion in fees and surcharges this year.