OT: No Surprise. . .A Retirement Crisis is Coming to a Country Near You. . .

[bearishgurl]

[quote=FormerSanDiegan]Article on Gen Y

“So is this the Laziest Generation? There are signs that its members benefit from lower standards. Technology has certainly made life easier. But there may also be a generation gap; the way young adults work is simply different.

It’s worth remembering that to some extent, these accusations of laziness and narcissism in “kids these days” are nothing new — they’ve been levied against Generation X, Baby Boomers and many generations before them. Even Aristotle and Plato were said to have expressed similar feelings about the slacker youth of their times.”

[/quote]

It’s funny you should bring this up. I’m in touch periodically with former coworkers who are still working for local gubment. As supervisors and mgrs, they interview a lot of Gen Y who come to the interview with visible tatoos and piercings and their phones texting them constantly. Since many entry-level gubment positions’ duties are primarily assisting the public, the gubment has strict dress and appearance codes for these employees who serve all generations of the public. The Gen Y group seems to think its okay to come to work in jeans with bullet holes and a skin-tight tank top or micro miniskirt and I am hearing that even after hire and being given a strict dress code that they have to sign, some of these workers still have to be sent home periodically to re-dress and remove their facial earring(s). Of course, having to send an employee home to come back later is disruptive to the work schedule of the department or section they work in.

To me, this is a downright lack of respect on the part of these young workers who should be ecstatic to have a steady job in this economy. Employers seem to be giving them a lot more rope than they did previous generations (especially on probation) because they apparently don’t have too much else to pick from for these jobs :=0

I’ve also heard that Gen Y balks at getting written performance evaluations but that is how the gubment covers its a$$, since it can only discipline or terminate an employee for cause (after probation is served).

By the time all the boomers have left the workplace, perhaps (the younger) Gen Y will have matured enough to understand the “lay of the land” and follow it, unpoliced.

[The-Shoveler]

Beck’s and heineken were the beers of choice back then
(in the 70’s).

No one would be caught dead with a bud in their hand at the disco.

but yea a Corona would set you back 4 bucks even back then at the bar, beck’s maybe 5 or 6.

[SK in CV]

[quote=bearishgurl]It’s funny you should bring this up. I’m in touch periodically with former coworkers who are still working for local gubment. As supervisors and mgrs, they interview a lot of Gen Y who come to the interview with visible tatoos and piercings and their phones texting them constantly. Since many entry-level gubment positions’ duties are primarily assisting the public, the gubment has strict dress and appearance codes for these employees who serve all generations of the public. The Gen Y group seems to think its okay to come to work in jeans with bullet holes and a skin-tight tank top or micro miniskirt and I am hearing that even after hire and being given a strict dress code that they have to sign, some of these workers still have to be sent home periodically to re-dress and remove their facial earring(s). Of course, having to send an employee home to come back later is disruptive to the work schedule of the department or section they work in.

To me, this is a downright lack of respect on the part of these young workers who should be ecstatic to have a steady job in this economy. Employers seem to be giving them a lot more rope than they did previous generations (especially on probation) because they apparently don’t have too much else to pick from for these jobs :=0

I’ve also heard that Gen Y balks at getting written performance evaluations but that is how the gubment covers its a$$, since it can only discipline or terminate an employee for cause (after probation is served).

By the time all the boomers have left the workplace, perhaps (the younger) Gen Y will have matured enough to understand the “lay of the land” and follow it, unpoliced.[/quote]

Those damn kids. With their loud music. The boys with their long hair. The girls not wearing bras. Get off my f’ing lawn!

[bearishgurl]

[quote=FormerSanDiegan]Other historical views on Boomers …

“Frankly and unapologetically materialistic”
[/quote] . . .

Except uhhh, those “yuppies” (aka “boomers”) were paying an 8-11% interest rate on their home mortgages …. that is, if they purchased/refinanced AFTER 1983.

But FIRST, they had to live through 11-15.5% fixed mortgage interest rates. Try buying your first home under those economic conditions :=0

BEFORE that, they had to wait in 1.5 to 2 hr gas lines to buy that “cheap” gas and fight in Vietnam and return to the US (if you were lucky) where no one seemed to care what you went through over there.

Does anyone actually think the VA offered treatment for PTSS to returning servicemen at that time? If you think so, you ought to visit Father Joe’s today and see and hear for yourself who they have “rescued” from the street over the last 20 years.

Yes, “yuppies” had every right to seek a better life for themselves when economic conditions finally warranted it. I did so and I am very thankful today that I was given that opportunity back then … yes, even at 7-10.5% mortgage interest rates!

I have no apologies, whatsoever.

[bearishgurl]

[quote=SK in CV]Those damn kids. With their loud music. The boys with their long hair. The girls not wearing bras. Get off my f’ing lawn![/quote]

Funny you should bring this up, SK. When I was in Jr High, I actually mowed lawns USING a grass-catcher in my daisy dukes and halter top for $5 for a quarter-acre lot. Well …. it was HOT outside. I also had a regular window washing job of a 2-story house … also for $5 and in the same outfit. It was the (female) working uniform of the day 🙂

In the warmer months, I could usually make plenty of spending money without leaving my hood.

[The-Shoveler]

Don’t worry,

I am fairly certain Gen-y and Z will be buying Mc-Mansions and driving expensive cars fairly soon.

Hair shirts never stay in style long.

[The-Shoveler]

[quote=bearishgurl][quote=The-Shoveler]I had one heck of a good time in the 70’s BTW,

always bough a new surf board once a year at least, and never drank domestic beer.[/quote]

Yeah, yeah. Corona and Dos Equis weren’t considered “Domestic Beer” back then :=D[/quote]

My experience was fairly typical I think.

Yep those horrible days of 70’s stagflation.

It was very rare for anyone to live at home past 18,

unless they were in college, after that they were gone baby.

[livinincali]

[quote=bearishgurl]
He’s absolutely right. We supported the gens before us because that is what the SS (OASDI) “system” was in place for. Now it is our turn to be on the “receiving end,” except for one caveat. We boomers (male AND female) DID (involuntarily for decades) put substantial portions of our pay into it. A good portion of us actually maxed out our SS contributions to the maximum allowable by law. It is now our turn to collect (hopefully most or all of the “corpus” or principal) of our “contributions” back out … forget any potential “interest” we could have made on the money.

Suck it up and deal with it. We boomers did so why are Gen X/Y whining about this now?[/quote]

The older generation is reaping the benefit of having a lot of kids and the entry of women into the workforce. It’s not too hard to get a pretty nice benefit when you’ve got 4-5 people chipping in to support one person. Unfortunately the boomers didn’t have as many kids and there isn’t a big expansion of the workforce coming. You are going to have to make up for it in productivity gains which may or may not happen. Someone is going to take the hit and based on the current economic trends it’ probably going to be in the next 10 years and it’s probably going to heavily effect the boomers.

[The-Shoveler]

If the population experts are correct, we should be increasing the population by 25% by 2050 .
Maybe they over estimated.
But yea I would suggest no one fully retire.
Inflation can unset the best pension in the world in a few years’ time.

Most the rest of the world has puts up with 7-15% inflation. it has only been the very unusual policy and circumstances of the last 30 years that has allowed the low inflation we have experienced.
It all started in 1981 and the feds war on inflation at all costs, including standard of living for 50% or more of the population,

[The-Shoveler]

I am going to go the other way on this,

IMO, 10 years from now, the great recession will be a very vague memory, minimum wage will be 15 dollars (or More). everyone will be talking about the great boom in energy production and automation we have had in the last 10 years that has allowed the U.S.A. to be a net exporter (in overall world trade).

That’s just my honest opinion.

[flyer]

I really hope all of the “optimists” are correct about the future, and that younger generations can enjoy the same great lives as many of we “Boomers” have.

As UCGal said, “I hope it all works out for them,” and, my
favorite–“Only time will tell.”

Regardless of who is right or wrong, IMO, the bottom line is that you either cut it financially for the duration of your life, or you don’t, and there is no hoping or wishing about it.

[(former)FormerSanDiegan]

BG –

I consider myself neither an X-er or a Baby boomer (I was born in a year that has been ascribed to both generations, depending on who is defining it.) SO, I am not taking any side here.

I am just rebutting your revisionist view of history that Baby Boomers were frugal folks who lived within their means and wore one pair of Levi’s jeans for 10 years and drove their crappy chevy with roll-up windows for 20 years.

They were a selfish, entitled generation relative to their predecessors, just like virtually every generation has been in this country since it was founded.

[UCGal]

[quote=paramount][quote=UCGal]

They all drive newer cars, eat lunch out every day, and haven’t pinched a penny in their life. [/quote]

So it sounds like they’re enjoying life and don’t have a lust/love for money under the cover story of I’m saving for retirement.

There’s nothing normal or natural (or even healthy) about retirement – this is a wall street propaganda article.

Wall Street banksters and the feds are robbing us blind.

You’ve been programed and brainwashed and don’t even know it.[/quote]

Sorry I didn’t get back to this thread sooner. I was off living life on a long weekend in NOLA (despite being a saver/investor.)

It’s possible to be a saver, and still live within or below your means…

I guess if looking forward to free time in retirement is a brainwashed idea… I’m brainwashed.

paramount – I’m not sure what you have against me. Can we just agree to disagree? You’re harshin’ my buzz, dude.

[UCGal]

[quote=The-Shoveler]Beck’s and heineken were the beers of choice back then
(in the 70’s).

No one would be caught dead with a bud in their hand at the disco.

but yea a Corona would set you back 4 bucks even back then at the bar, beck’s maybe 5 or 6.[/quote]

Definitely Becks and Heineken in the 70’s. Corona’s you had to go to Hussongs. It was the house beer of Hussongs, and you couldn’t buy it stateside. I remember in 1979 being with friends who were hauling several cases back after a weekend spent drinking at Hussongs and camping on the beach. (You only had to be 18 to drink in Baja – so I could drink legally… down there.)

[Author]

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