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Baby Boomers Going Bankrupt at Record Levels

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posted on Aug, 11 2018 @ 06:52 PM
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a reply to: Phage
Sole Proprietor is the correct term.

Phage, I know my options here.

My out of pocket last year was over $34,000 and it was similar the year before. This year is not over yet. Affordable? Hardly.

Interesting conversation all the same. I only meant to respond to the hateful OP.




posted on Aug, 11 2018 @ 06:53 PM
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a reply to: Blaine91555




Sole Proprietor is the correct term.

For tax purposes, yes.



posted on Aug, 11 2018 @ 06:55 PM
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a reply to: toysforadults


BINGO!!!

And, that's EXACTLY what I do!! Land never loses it's value, it only gains. And, no short seller in the Stock Market can say any different! (as Dad said; ...."they don't make any more of it!".

So, we bought everything we could afford (and some we couldn't). Now, we are insulated against that nonsense. And, it's all paid off, owned outright. I control my own destiny.

Great point!

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



posted on Aug, 11 2018 @ 06:56 PM
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originally posted by: DontTreadOnMe
a reply to: Phage

No, I was not self-employed.
I was retired, and my former employer threw all the retirees under the bus to save money.


There should be laws. (Or litigation). That seems to be a relatively common occurrence. Damn, I hope that doesn't happen to me.
Companies, and even states can declare bankruptcy, and not have to pay retirement. (I think.)
edit on 8/11/2018 by angeldoll because: (no reason given)



posted on Aug, 11 2018 @ 06:58 PM
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a reply to: angeldoll

Careful. You're sounding sort of socialistic.



posted on Aug, 11 2018 @ 06:59 PM
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a reply to: Phage

Just curious about what you guys think about Medicare for all?
Any opinions on that?

Phage?
Blaine?
et al?



posted on Aug, 11 2018 @ 07:00 PM
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a reply to: toysforadults

K. Well your tone makes me think of the rant sec.
But thank you again for your POV and new content



posted on Aug, 11 2018 @ 07:00 PM
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a reply to: angeldoll

Grand idea. Works pretty well elsewhere, rest of the first world for example.

Practical in the US? Um. It's complicated. Who knew?

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



posted on Aug, 11 2018 @ 07:01 PM
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originally posted by: Flyingclaydisk
a reply to: toysforadults


BINGO!!!

And, that's EXACTLY what I do!! Land never loses it's value, it only gains. And, no short seller in the Stock Market can say any different! (as Dad said; ...."they don't make any more of it!".

So, we bought everything we could afford (and some we couldn't). Now, we are insulated against that nonsense. And, it's all paid off, owned outright. I control my own destiny.

Great point!


well, it can lose value temporarily but I'm not talking about buying and selling I'm talking about buying and developing for commercial and residential projects

myself and a friend of mine are about to get into that, once he finished his real estate license, my job is to make money



posted on Aug, 11 2018 @ 07:02 PM
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originally posted by: slatesteam
a reply to: toysforadults

K. Well your tone makes me think of the rant sec.
But thank you again for your POV and new content



no problem and thank you in return



posted on Aug, 11 2018 @ 07:03 PM
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originally posted by: DBCowboy

originally posted by: toysforadults
a reply to: DBCowboy

so what's that have to do with the price of tea in China?

seriously some of the looming economic problems will turn out country into Syria if we continue to head in the same direction and that's worse than tough



Only if you let it.


oh that's not happening here



posted on Aug, 11 2018 @ 07:04 PM
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originally posted by: Phage
a reply to: angeldoll

Grand idea. Works pretty well elsewhere, rest of the first world for example.

Practical in the US? Um. It's complicated. Who knew?


Hm. lol. Who knew Lincoln was a Republican?



posted on Aug, 11 2018 @ 07:04 PM
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originally posted by: toysforadults

originally posted by: opethPA

originally posted by: toysforadults

originally posted by: opethPA
Threads like this really speak to the need to have a career in a field that provides good benefits.

I'm so used to the $100 - $150 that has come out of my check every 2 weeks over the past 22 years that I forget for those with a career or job not in an industry that provides benefits what a burden that becomes.


that's actually a lot of money for a factory worker who's making $20 an hour, and it's a lot higher because manufacturing costs are higher and their profit margins are lower, so it's actually 250+ when your paycheck is only 800, that's a lot more money


Like I said for those with a job or career that doesnt give good benefits then its easy to see what a burden it is.


I have a trade job and the union guys pay a lot of money for their good benefits and they don't work for months at a clip at times, although the last 2 years have been good

I just don't get it, don't need it and I am working on moving into your career field, it's not easy but it'll sure as hell be worth it

you can get into the trades and make a living like I do but damn I'm tired of it, I grew up on job sites, my father was a general contractor and he didn't believe in handouts, I've worked with my hands every summer of my life since I was able to walk


I have been working in the elevator union for 31 years. It's an awesome job with great bennies. I wouldn't trade it for anything.

Set up to retire in a few years.

I am a late baby boomer. My dad, an early baby boomer. He retired from the industry many years ago and living quite well on his pension. Never had to file bankruptcy and neither have I.

The only thing that hit me hard financially was the ex, but I survived.

Maybe those numbers reflect the divorce rate?

I don't know, but I don't know anyone having to declare bankruptcy.




posted on Aug, 11 2018 @ 07:04 PM
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We already have people (corporations) chipping away at our land, offers for millions.

And one day we WILL sell when the price is right, and we will retire, with a nice boat and a nice place, where we can still raise cows. Maybe not so many acres, but Dad was right. Maybe NC or so; a place with some property and some soul.

I could do that.



posted on Aug, 11 2018 @ 07:05 PM
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originally posted by: angeldoll
a reply to: Phage

Just curious about what you guys think about Medicare for all?
Any opinions on that?

Phage?
Blaine?
et al?



No.

I'd like to know what happened to make healthcare so unaffordable in the first place.

Out-of-pocket for most things was affordable back when.

I want to know why that changed.

Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.



posted on Aug, 11 2018 @ 07:08 PM
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a reply to: DBCowboy


Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.


We don't seem to be making much headway on that. It's getting worse.



posted on Aug, 11 2018 @ 07:11 PM
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originally posted by: angeldoll
a reply to: DBCowboy


Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.


We don't seem to be making much headway on that. It's getting worse.



You're right.

Because those we elect only want to find ways to pay for the high costs instead of just lowering costs.



posted on Aug, 11 2018 @ 07:12 PM
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originally posted by: DBCowboy

originally posted by: angeldoll
a reply to: DBCowboy


Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.


We don't seem to be making much headway on that. It's getting worse.



You're right.

Because those we elect only want to find ways to pay for the high costs instead of just lowering costs.





Most likely because they are invested in the very businesses that are charging the high costs...



posted on Aug, 11 2018 @ 07:13 PM
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originally posted by: DBCowboy

originally posted by: angeldoll
a reply to: Phage

Just curious about what you guys think about Medicare for all?
Any opinions on that?

Phage?
Blaine?
et al?



No.

I'd like to know what happened to make healthcare so unaffordable in the first place.

Out-of-pocket for most things was affordable back when.

I want to know why that changed.

Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.


Lyndon B Johnson is what happened to healthcare cost, once the gubberment began subsidizing socialized healthcare for older people the cost skyrocket

anytime the government get's involved in providing a solution the cost will skyrocket, it's not rocket science. the care becomes worse and the cost go up
then you have

www.hhnmag.com...

edit on 11-8-2018 by toysforadults because: (no reason given)



posted on Aug, 11 2018 @ 07:13 PM
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originally posted by: hopenotfeariswhatweneed

originally posted by: DBCowboy

originally posted by: angeldoll
a reply to: DBCowboy


Instead of worrying about paying for such high costs, I'd rather look for ways to reduce costs.


We don't seem to be making much headway on that. It's getting worse.



You're right.

Because those we elect only want to find ways to pay for the high costs instead of just lowering costs.





Most likely because they are invested in the very businesses that are charging the high costs...



Without turning this into a political thread, yes.

All politicians suck.




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