At some point we’ll have to shift focus from boomers hoarding money (which they are, absolutely) to the fact thay many people reaching retirement age in 20-25 years will have no plan, no safety net, and no options because of systemic changes in industry and government. These systemic changes were only ever considered for a few years out.
I don’t think there are any good solutions for the longer term issues.
What you’re calling “hoarding money” for many is also what you refer to as a “safety net.”
Like owning a house and having a 401k shouldn’t be considered hoarding. Especially since the social security system is fucked. People need to save for their retirement, or else they have to live their old age in poverty and still work until they die.
At some point we’ll have to shift focus from boomers hoarding money (which they are, absolutely) to the fact thay many people reaching retirement age in 20-25 years will have no plan, no safety net, and no options because of systemic changes in industry and government. These systemic changes were only ever considered for a few years out.
I don’t think there are any good solutions for the longer term issues.
What you’re calling “hoarding money” for many is also what you refer to as a “safety net.”
Like owning a house and having a 401k shouldn’t be considered hoarding. Especially since the social security system is fucked. People need to save for their retirement, or else they have to live their old age in poverty and still work until they die.
They make the distinction because those people getting the safety net are trying desperately to keep it exclusive.
lol no they are not.
Their voting habits say otherwise.