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Baby Boomers Going Bankrupt at Record Levels

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posted on Aug, 11 2018 @ 05:20 PM
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How many people are declaring bankruptcy to protect their family memeber? A life in a nursing home or a critical illness can be expensive. People living longer but not really living.

Also higher interest rates mean hat people aren’t moving as willie nillie as before




posted on Aug, 11 2018 @ 05:21 PM
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a reply to: Flyingclaydisk

I wonder how many "kids" are living in their parents basement?



posted on Aug, 11 2018 @ 05:23 PM
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a reply to: SocratesJohnson




Also higher interest rates mean hat people aren’t moving as willie nillie as before

Higher than what?

My first mortgage loan was 8.5%


+9 more 
posted on Aug, 11 2018 @ 05:26 PM
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a reply to: toysforadults


So I found this pretty funny article in the news recently and on one of my favorite Youtube channels. I tried not to laugh and feel bad but I couldn't help myself.


You think it's funny that older people are being bankrupted by medical costs and the crazy high deductibles under Obamacare? Did you actually read the article? Do you even understand the why? Clearly you do not and yet you seem literate?

Laughing at other peoples misfortunes seems more than a bit sadistic and most certainly your post amounts to hate speech. What a sad way to go through life. You must be very lonely.



posted on Aug, 11 2018 @ 05:30 PM
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It's a little known fact that before Boomers, there was no poverty, no hunger, no homeless, everyone had jobs, everyone had homes, everyone had cars, and everyone had hair.


That's right.

Boomers caused baldness.


Betcha didn't know that!



posted on Aug, 11 2018 @ 05:30 PM
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They (the Millenials) realized, suddenly, that being ranked in the top 10 of Call of Duty ver. 56, Special Forces Team Green wasn't going to make a retirement for them, despite all the on-line "atta-boys". They also realized that Mom & Dad (maybe if he was still there) were mortal, and they would require massively expensive healthcare which would spend all of their perceived fortunes and leave them homeless.

They had nothing. And, they had to (GASP)...get a REAL job, with real hours, and real commutes and real accountability! OMG!!

Oh my, how the world has changed, hasn't it??? (hint...not really).



posted on Aug, 11 2018 @ 05:31 PM
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Most elderly people file bankruptcy because of medical bills.

Even with the best insurance, a serious illness will leave you thousands in debt.



posted on Aug, 11 2018 @ 05:32 PM
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a reply to: mamabeth

It's a metaphor, and while they might not be living in the "basement" proper...it's only because their parents didn't have enough money to finish the basement!



posted on Aug, 11 2018 @ 05:33 PM
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a reply to: Blaine91555



You think it's funny that older people are being bankrupted by medical costs and the crazy high deductibles under Obamacare?

I read the article. I didn't see the part that said anything about deductibles.



posted on Aug, 11 2018 @ 05:34 PM
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a reply to: Blaine91555

My medical insurance is pricey but good.Those mini strokes
that I had in May were covered.That one night and day in
the hospital cost over $14,000.00.
A lot of people don't realize they could be one major illness
away from going broke.



posted on Aug, 11 2018 @ 05:37 PM
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a reply to: DBCowboy

Ha,Ha,and I bet boomers will be blamed for male ED problems too.



posted on Aug, 11 2018 @ 05:38 PM
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originally posted by: SocratesJohnson
How many people are declaring bankruptcy to protect their family memeber? A life in a nursing home or a critical illness can be expensive. People living longer but not really living.

Also higher interest rates mean hat people aren’t moving as willie nillie as before



when we have an economy built on debt a higher interest rate can cripple the economy as fast as inflation, big changes coming



posted on Aug, 11 2018 @ 05:38 PM
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originally posted by: RickinVa
Most elderly people file bankruptcy because of medical bills.

Even with the best insurance, a serious illness will leave you thousands in debt.


Yep! My parents own their home and 4 acres and yet my brother is worried about what they will leave him in their will! I told him if either one of them get put in the hospital or need long term care, neither you nor I will get squat! Grow the hell up and worry about THEM, NOT YOU!

To be honest? I don't want them to leave me anything, and surely hope I pass on before they do. My brother can have it all, and he can deal with it all when either one of em pass as well.



posted on Aug, 11 2018 @ 05:40 PM
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originally posted by: Blaine91555
a reply to: toysforadults


So I found this pretty funny article in the news recently and on one of my favorite Youtube channels. I tried not to laugh and feel bad but I couldn't help myself.


You think it's funny that older people are being bankrupted by medical costs and the crazy high deductibles under Obamacare? Did you actually read the article? Do you even understand the why? Clearly you do not and yet you seem literate?

Laughing at other peoples misfortunes seems more than a bit sadistic and most certainly your post amounts to hate speech. What a sad way to go through life. You must be very lonely.


I just think it's funny that the same issues that are causing the other economic issues are now finally affecting everyone else in larger %'s.

see, if people would listen instead of judge these things could be solved but hey, back to my basement!

ROFL, don't get so offended ya'll are suppose to be really tough



posted on Aug, 11 2018 @ 05:40 PM
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originally posted by: mamabeth
a reply to: DBCowboy

Ha,Ha,and I bet boomers will be blamed for male ED problems too.


That's funny because a boomer 'invented' Viagra!

lol.



posted on Aug, 11 2018 @ 05:41 PM
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a reply to: seeker1963

My brother and I are encouraging our parents to spend their money and enjoy life!


They stopped paying for us when we turned 18.


Or, as they said back in the day. . . . XVIII



posted on Aug, 11 2018 @ 05:41 PM
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a reply to: seeker1963
You should have killed him in the nest. Nature's way.


edit on 8/11/2018 by Phage because: (no reason given)



posted on Aug, 11 2018 @ 05:41 PM
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originally posted by: angeldoll

originally posted by: mamabeth
a reply to: DBCowboy

Ha,Ha,and I bet boomers will be blamed for male ED problems too.


That's funny because a boomer 'invented' Viagra!

lol.


And you're welcome!



posted on Aug, 11 2018 @ 05:42 PM
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originally posted by: Flyingclaydisk
Personally, I think this is a deflection thread to make Millenials feel better about themselves...loosing.

They want to feel justified, and not feel guilty for sitting on Mom's basement couch as long as they did. So they cling to some bogus story about Baby Boomers declaring bankruptcy to justify their own shortcomings!

How's that for an assessment?


rofl!!!



posted on Aug, 11 2018 @ 05:42 PM
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a reply to: DBCowboy

Our parents left some land for us to figure out how to pay for.


Yeah. But it is a different world now.



edit on 8/11/2018 by Phage because: (no reason given)



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