While the G.I. generation (those that fought in World War II) avoided debt and saved the majority of their incomes, today's retiring baby boomers are hardly approaching retirement in the manner of their parents. According to several recent studies and polls, it seems that despite vanishing pensions, low 401(K) balances and threats to social security and other welfare programs, many retiring baby boomers have no desire to give up their current lifestyles.
This new trend of carrying debts into retirement could be the new normal, as poor planning, unforeseen emergencies and zero desire to downsize takes precedent in the boomer's retirement plans. Overall, the trend could be seen as alarming and serve as a wake-up call for modern financial planning.
[. . .]
Retiring with minimal or no debt is one of the most effective ways to make your retirement savings go further. Minimizing or eliminating debt repayment in retirement reduces interest costs and immediately increases cash flow. Likewise, downsizing to a smaller home or apartment is a great way to reduce mortgage costs and utility bills.
Rest case:
If this whole "Boomer" bunch is as fucked-up on the basics of their own looming non-commuting days--as this?
Then: imagine just how far down the priority list [somewhere after, "color of leather seats in new Escalade"] would come:
the slightest thought--in those pretty-little-heads about something as abstruse as, "reducing one's energy consumption/waste?"
--as some token payback for, say, 'planetary maintenance' (if there Are to be any descendants, after 'US'??)
U.S. Narcissists are consistent, then, after showing the entire world--these past several decades--just how much of %world-total (energy + energy used, making more stuff)
--our mere 5% of the world's over-population did consume.
With a mindset of this calibre--who needs nukes to go in for the species kill? Innumeracy works as well. (Doesn't kill most-ALL the other species, too.)
Live fast, die young--and have a good looking corpse. (John Derek in Bogie movie, Knock on any Door)
And if we *have become*, for want of a briefer simile: a cancer on the rectum of humanity, do we get the current allopathic remedy menu: cut / burn / poison?
Administered by what agency?
('Tis the Season --right on schedule--for maxxed-out CCS: wanna bet they're Baaack to previous levels of
negative savings: whatEver the "%unemployment"?)
Ho.. Ho.. {choke} Ho..
(On Solstice, all cats get [no/salt] Rocky Jr. rotisserie chicken--before any humans do.)