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Baby Boomers Going Bankrupt at Record Levels

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posted on Aug, 11 2018 @ 05:56 PM
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originally posted by: Blaine91555
a reply to: Phage


The culprit appears to be cutbacks in the social safety net -- such as raising the retirement age and requiring seniors to pay more out-of-pocket health care costs -- as well as a shift in risk from government and corporations onto individuals.


Out-of-pocket includes that.

I don't qualify for any subsidies, but just barely. $1,600 a month for insurance for my wife and I and that's the cheap stuff. $17,000 deductible now. Goes up more next year. I spoke with another business owner a couple of weeks ago who is three years older than me and he and his wife are paying $2,400 a month with a $23,000 deductible. His wife had a stroke, so he's selling his house, but still expects to not make it. My own doctor told me he estimates it's roughly 7 million people who are in the same boat, who don't qualify for handouts. We are being punished harshly for continuing to work and be productive, but I suspect you know that.

Anyone who does not think that health care is one of the top reasons for bankruptcy in my age group, has not been paying attention.


Yep!

My parents have Medicare. (You know that free health care being promoted right now?) Yet they have to pay for supplemental insurance because Medicare is about worthless except for regular check up type stuff. I have seen my mother decide whether to spend money on medication or pay the bills. She won't take my money to help out, even though I can NEVER repay her nor my father for everything they have done for me.......




posted on Aug, 11 2018 @ 05:56 PM
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originally posted by: DBCowboy
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!





So you're responsible for my receeding hair line, damn you and your kind damn the lot of you...



posted on Aug, 11 2018 @ 05:58 PM
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a reply to: Blaine91555



Anyone who does not think that health care is one of the top reasons for bankruptcy in my age group, has not been paying attention.

Indeed, as stated in the article. The article which says nothing about deductibles, as I said. Contrary to what you said.

I am still working for a living and am provided coverage by my employer. My deductible is low and I am in good health so spend little on medical expenses. I will, all to soon, qualify for Medicare but won't have much reason to go beyond basic coverage. The uncertainty of my future has nothing to do with medical expenses.

How certain are you that the ACA, which the president has claimed is "dead", is the cause of your woes? Why, do you think, is it that Republicans do not seem to be raising health care as an issue in the upcoming midterms?



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



posted on Aug, 11 2018 @ 05:59 PM
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a reply to: Phage

First thing I thought of when DB wrote bogart. Man, those were the days.



posted on Aug, 11 2018 @ 06:00 PM
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a reply to: toysforadults

I started working at 16 after my father died, I have a degree, I've made it to journeyman at a trade, I've owned a business for 30 years and it currently supports five families and has in the past supported as many as 15 families. How about you?

I'm now legally fully disabled and would be on the government dole, but I chose to continue. Never taken a penny in help, never a food stamp, never any handout of any kind. How about you?

Just curious?



posted on Aug, 11 2018 @ 06:00 PM
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a reply to: toysforadults

And I paid the SS for the generation before me! I have NEVER been
entitled and I am not getting medicare.I have to be 65 before I get
that.I decided to go on SS at age 62 and I am 63 now.



posted on Aug, 11 2018 @ 06:03 PM
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originally posted by: Blaine91555
a reply to: toysforadults

I started working at 16 after my father died, I have a degree, I've made it to journeyman at a trade, I've owned a business for 30 years and it currently supports five families and has in the past supported as many as 15 families. How about you?

I'm now legally fully disabled and would be on the government dole, but I chose to continue. Never taken a penny in help, never a food stamp, never any handout of any kind. How about you?

Just curious?


currently running a huge tile job, IN THE TRADES HOW BOUT YOU

I feel like I made a post on a Portland U board and triggered all the snowflakes
edit on 11-8-2018 by toysforadults because: (no reason given)



posted on Aug, 11 2018 @ 06:03 PM
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a reply to: Blaine91555

I have asked him the same things and he won't answer.
He is too busy bashing boomers.



posted on Aug, 11 2018 @ 06:03 PM
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a reply to: Blaine91555


I don't qualify for any subsidies, but just barely. $1,600 a month for insurance for my wife and I and that's the cheap stuff. $17,000 deductible now. Goes up more next year. I spoke with another business owner a couple of weeks ago who is three years older than me and he and his wife are paying $2,400 a month with a $23,000 deductible.


Good grief. Stay well, Blaine. I heard a doctor on NPR say the three things we can all do.
Don't smoke, wear your seatbelt, and exercise x3/week.
Simple, but every little bit helps.

eta: And don't eat pork rinds.

And yes I know how naïve this sounds, but here it is anyway.


edit on 8/11/2018 by angeldoll because: Because pork rinks are little serial killers



posted on Aug, 11 2018 @ 06:09 PM
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a reply to: angeldoll

My sons found my life insurance policy and now all they do is buy me pork rinds.








posted on Aug, 11 2018 @ 06:11 PM
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a reply to: Phage

"Out-of-pocket health care costs" do not include deductibles? It does in the real world I think Phage.

I am the employer, nobody pays anything for me, but it explains why its not an issue for you and why you are unaware of the reality for those of us who don't qualify for handouts or have insurance as part of our pay. Why would you know or understand.

I have no interest in a political debate.



posted on Aug, 11 2018 @ 06:11 PM
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a reply to: toysforadults

It was unsecured higher interest rates which CAUSED the whole '08 financial collapse.

People with no credit buying WAY more than they could ever pay for. All that debt rolled up into securities known as "derivatives" and sold on the market. Then the short sellers like the hedge funds came in and cleaned up.

It's really not very hard to understand when you look at it realistically.

ETA - People betting on the American public "losing" should be illegal!! With HUGE fines, suspension of trading rights and JAIL!! F# the hedge funds, or make them available to everyone, not just the elite!!




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



posted on Aug, 11 2018 @ 06:13 PM
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originally posted by: toysforadults

originally posted by: Blaine91555
a reply to: toysforadults

I started working at 16 after my father died, I have a degree, I've made it to journeyman at a trade, I've owned a business for 30 years and it currently supports five families and has in the past supported as many as 15 families. How about you?

I'm now legally fully disabled and would be on the government dole, but I chose to continue. Never taken a penny in help, never a food stamp, never any handout of any kind. How about you?

Just curious?


currently running a huge tile job, IN THE TRADES HOW BOUT YOU

I feel like I made a post on a Portland U board and triggered all the snowflakes


I learned how to cut and lay tile in one day OJT. Do you think that makes you special?



posted on Aug, 11 2018 @ 06:13 PM
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originally posted by: DBCowboy
a reply to: angeldoll

My sons found my life insurance policy and now all they do is buy me pork rinds.







*gasping for air* You are something else lol



posted on Aug, 11 2018 @ 06:15 PM
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a reply to: Blaine91555

If you are an employer, what does the ACA have to do with your medical plan? My boss has the same plan I do, has the same deductible and pays the same premiums.


have no interest in a political debate.
Could have fooled me, when you started ranting about "Obamacare."

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



posted on Aug, 11 2018 @ 06:15 PM
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originally posted by: Flyingclaydisk
a reply to: toysforadults

It was unsecured higher interest rates which CAUSED the whole '08 financial collapse.

People with no credit buying WAY more than they could ever pay for. All that debt rolled up into securities known as "derivatives" and sold on the market. Then the short sellers like the hedge funds came in and cleaned up.

It's really not very hard to understand when you look at it realistically.

ETA - People betting on the American public "losing" should be illegal!! With HUGE fines, suspension of trading rights and JAIL!! F# the hedge funds, or make them available to everyone, not just the elite!!





no it's not but most people don't want to understand they just want to hit talking points and get that dopamine hit thinking they won something



posted on Aug, 11 2018 @ 06:16 PM
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a reply to: angeldoll

My medical issues are not self inflicted, but thank you and I understand your intent.



posted on Aug, 11 2018 @ 06:18 PM
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a reply to: toysforadults

I am just a little old lady and even I can lay tile*.





*the peel and stick type!



posted on Aug, 11 2018 @ 06:18 PM
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a reply to: mamabeth

Pfft.


It's grouting that's tricky. And a PIA.



posted on Aug, 11 2018 @ 06:20 PM
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a reply to: Phage

Uhh,what is PIA? A senior moment here,now I know!
edit on 11-8-2018 by mamabeth because: (no reason given)




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