Quote:
Originally Posted by Kelt
I think the other side of that coin is going to be seen as irresponsible parents, non-savers or those who could not, as well as some folks who had their financial ass handed to them just a few years ago and don't have enough time to make up for it, looking for a partial or full ride from their family in their elderly years. In that situation there's little hope that the elderly parent is going to be getting off their butt and finding gainful employment.
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I wouldn't characterize older people without enough means to get through retirement as irresponsible. A lot of pensions have been reduced, especially medical benefits. Many people count on social security, but it is nearly impossible to make it on that. To have saved on top of paying into social security is really necessary, but a lot of people lost everything in the housing bust. Many folks' entire savings outside of social security were tied up in their homes, and many people lost their homes, not just those who took subprime loans. Or the homes are worth much less than they were before. Lots of hardworking people are underwater on their homes, and most Americans' wealth is tied up in their homes.
And a lot of people lost jobs in the recession. The jobs they got after that were not as good. Those who didn't lose their homes are living close to the edge. Bill Moyers does a good piece on this nearly every month. Millions and millions of Americans barely pay their bills every month.
And getting a job over 50? That is unbelievably hard for most people even in high demand fields.