Treasury's SS site estimates a nice monthly check in the not so far future... I will use part of that to pay for a Cadillac CT4-V Blackwing (manual shift) or a C8 Corvette.

Decisions decisions.

flown-the-coop said:

---

And why would a recession be at the worst possible time?

---

I was commenting on the video in the OP. Raul said confidently a recession would happen at peak retirement, compounding the problem with less buyers to step in.

Quote:

---

Boomers really were the most irresponsible generation.

---

You're joking, right?

dermdoc said:

---

yell_on_6th st said:

---

The simple answer is, keep working.

It's better for you anyway

---

Amen. 70 years old and going strong. And I am a responsible boomer. Could retire but don't want to.

---

What is it with Dermatologists? Mine in Houston didn't retire until around 80. He probably should have retired about 5 years before that though.

StandUpforAmerica said:

---

dermdoc said:

---

yell_on_6th st said:

---

The simple answer is, keep working.

It's better for you anyway

---

Amen. 70 years old and going strong. And I am a responsible boomer. Could retire but don't want to.

---

What is it with Dermatologists? Mine in Houston didn't retire until around 80. He probably should have retired about 5 years before that though.

---

May I ask who it was?

AgDad121619 said:

---

infinity ag said:

---

Boomers really were the most irresponsible generation.

---

you may secretly be a lib because you cry about so many things that actually were under your control. If you chose not save early in your career , that is on you - not the boomers but go ahead and project your failures on a faceless general demographic called the boomers

---

I reject such labels. I am neither a lib nor a con. Maybe I am a combination of both.
I am a common sense person who wants America to become great again, not the beggarly country we have become so much in debt.

If lib policies get us there, so be it. If con policies work best, then let's do it. I believe a combination of that is the best option, extremes of either are bad.

I am all for America. And Americans.

PS: If you are talking about me personally., I am doing good financially. I don't need to work anymore, but I still do, more for fun and to keep busy. I am a pretty good investor, as I have said so many times here. I made MUCH more in the market than I do in my job. Investing is the way to get rich, not by working hard in a job. And yes, I have ZERO debt and I pay for my son's college all myself. I am getting set to buy my wife a $60k car in cash (no debt) for our milestone wedding anniversary.
Thank you for your concern. I know it is strange, but I usually argue against my own selfish interests here on TA which throws people off.

The above reason is why I hate that we are so much in debt as a country.

GasAg90 said:

---

infinity ag said:

---

Boomers really were the most irresponsible generation.

---

Not really. They were the largest generation, therefore politicians gave them everything.

Gen X, the smallest generation will get screwed due to limited political clout.

---

Could be. I am Gen X and it's never been a good time. Either we are in recession or in debt (as a nation).

At least Gen X got to be the last generation to play outside.

AggieVictor10 said:

---

At least Gen X got to be the last generation to play outside.

---

Ah right you are! Good times.

Thinking stocks are risky and treasury bills and bonds of any type are safe will produce horrific long term retirement results. The dollar has fallen 11% so far in 2025. Congress can't quit spending, borrowing and printing dollars, so the dollar and bonds are doomed.

The reason boomers have most of their wealth in stocks, real estate, minerals and possibly bitcoin, is because their wealth in dollars and bonds was wiped out by the collapse of the dollar's purchasing power.

Outside of politics, I fear for Americans who are around 50 years old. You better have a few millions of net worth and no or low debt. If that is not the case, you are screwed - no matter you are a liberal or a conservative. It is not likely that you will be employed beyond 60 as US companies have no loyalty and will kick out older Americans in order to hire young people from India. This country does not love its own citizens. Even Trump is pretending that offshoring and H1B is not a problem. Now there is a new EB1 visa which Indians are getting fraudulently using "consultants". The entire system is rigged against everyday Americans. Google it, you will find out how people get this by gaming the process. America is everyone's hoar now - use and discard.

So you better have figured out how to save up a few millions and have paid off all your debt. Else you will be sleeping in your car in some years. No one will help you, no Republican, no conservative, no Levin no Limbaugh no FoxNews host. You are all by yourself.

You don't want to get to 70 and have to move to a stinky apartment full of trashy people screaming at the top of their lungs at 3am. My friend once moved to such a place in our area in 2002 and I was horrified when we visited them.

JobSecurity said:

---

If a 1-3 year recession and recovery cycle dooms your ability to pay your bills in retirement you didn't have enough to retire in the first place

---

LOL, almost no-one does.

Hell, even the employed people don't have enough saved to make ends meet for just a few months.

MemphisAg1 said:

---

lb3 said:

---

Muy said:

---

And the younger generations having massive debt and wanting to work less (aka "weakening tax revenues" means that Social Security going insolvent will happen at warp speed.

---

Social Security is already insolvent. We're printing the difference between dollars received and dollars spent.

---

Actually, SS has collected more in dollars received than dollars spent since the beginning of the program... a surplus. Hard to believe, but it's a fact. The nuance is Congress didn't set aside the surplus in all the years when SS receipts exceeded SS payments. They spent it on other stuff. So today, it's correct that SS payments are supplemented with money from the general fund because the surplus has been spent. It's not in a "lockbox."

At around 2033, total dollars spent will begin to exceed total dollars received, and if no changes are made to shore it up, SS recipients will get a haircut of roughly 15% in their checks.

---

There isn't anything particularly magical about 2033 other than that's when Social Security's existing budget authority is expected to expire. Since we print that shortfall every year now, Congress will likely opt to just continue printing that money in 2033.

It really not much different than expiring tax cuts being renewed. I expect Congress to authorize the SSA to continue drafting on the treasury to cover the shortfall just as they do now.

I haven't read every post, so this may already be covered, but the flaw in this thinking is the assumption that the retirement portfolio for all these 65+ aged folks is not only primary stocks (or stock based funds), but those that a slow sell off caused by mutual fund redemptions would affect known indexes like the S&P. In fact, I'm pretty sure that many investors have already shifted their portfolios into a balanced or mixed portfolio to at least some extent. And that doesn't even speak to those who have additional assets in real estate, which won't affect the stock market for several reasons, including the fact that many/most real estate investments are providing the retirement cash flow, so selling them wouldn't be prudent.

This past Friday was the one year anniversary of my retirement. Y'all keep working please, so my SS payments continue.

Invest in cashflowing real estate

dermdoc said:

---

StandUpforAmerica said:

---

dermdoc said:

---

yell_on_6th st said:

---

The simple answer is, keep working.

It's better for you anyway

---

Amen. 70 years old and going strong. And I am a responsible boomer. Could retire but don't want to.

---

What is it with Dermatologists? Mine in Houston didn't retire until around 80. He probably should have retired about 5 years before that though.

---

May I ask who it was?

---

Jimmy Schmidt.... super nice guy. Towards the end it seemed like he started referring more stuff out to other doctors in the practice.

My Mom is 79 and a Boomer (born in '46). Baby Boomers have been retired for years. Only the oldest boomers born in early '60's are not retired or retiring now.

MooreTrucker said:

---

Vepp said:

---

Defund Social Security now and let's have a future!

---

F that. Payment back what I put in. THEN you can defund it, whatever.

---

The money you put in has already been given to the retired.

The only responsible way for you to demand younger generations pay you back is to also demand a significant reduction in government spending elsewhere until entitlements are no longer a ponzi scheme. If no reduction in government, then cold turkey cut of social security is the next best answer regardless of who gets screwed out of what they put in.

Has nothing to do with savings.

Boomers have been running this country for decades. Most of our monetary sins are directly tied to boomer politicians, and boomers make up.a huge percentage of the voting segment of this country.

You can spin it anyway you like, our govt budget and corruption exist as they are because of the boomers.

I'm a tail end boomer, early Gen X depending what cutoff date you use (there's a range). My siblings were all Gen X so I felt culturally closer to that generation. One thing I found aggravating throughout my career is there were so many boomers occupying positions above me in corporate hierarchy that weren't a lot older it made advancement more difficult. So I have mixed feelings about those that say they're still working. Part of me says retire already and make room for the younger generations. You're being selfish. Part of me says if you can keep working, it's the most responsible thing to do for yourself and your family.

StandUpforAmerica said:

---

dermdoc said:

---

StandUpforAmerica said:

---

dermdoc said:

---

yell_on_6th st said:

---

The simple answer is, keep working.

It's better for you anyway

---

Amen. 70 years old and going strong. And I am a responsible boomer. Could retire but don't want to.

---

What is it with Dermatologists? Mine in Houston didn't retire until around 80. He probably should have retired about 5 years before that though.

---

May I ask who it was?

---

Jimmy Schmidt.... super nice guy. Towards the end it seemed like he started referring more stuff out to other doctors in the practice.

---

He and I have known each other a long time.

Buy Bitcoin.

yell_on_6th st said:

---

The simple answer is, keep working.

It's better for you anyway

---

And have a pension...or two...

Muy said:

---

And the younger generations having massive debt and wanting to work less (aka "weakening tax revenues" means that Social Security going insolvent will happen at warp speed.

---

I have been stating for like 2 years on here that I'm taking Social Security the FIRST DAY I QUALIFY in 2032

for that exact reason.

I want to be in the system before the politicos raise the retirement age and go to "means testing" to deprive me of what I paid in.

Im 42, set to semi retire by 52 and I can only think of a few people I know that will ever retire, let alone early like I am working towards. Even if they got a windfall from their parents, they would blow it and have little to show for it. Gonna be interesting to see how many are working forever.

Boomers always get so defensive when people criticize their generation, I don't think they're fully to blame but they did elect big spending neo conservatives and neo liberals who lied us into wars for 30 years

Its Texas Aggies, dammit said:

---

Aggie95 said:

---

which one is it?

this article says retirement accounts will be drained below acceptable levels

other articles say we are in a period of massive wealth transfer from baby boomers to Gen X

---

I don't think most boomers will have anything left to pass down. Median of $400k in retirement accounts won't go far especially if the money printer keeps running. I don't expect any social security to be left when it's time for the bulk of Gen X to retire. If there is, it might buy a happy meal.

---

This. I think the great wealth transfer will be a myth. Business (mostly healthcare) will find a way to suck out all of that money.

Even if you retire with 2 or 3 million half will be wiped out by medical bills, the system is rigged, brace yourself.

Furlock Bones said:

---

Its Texas Aggies, dammit said:

---

Aggie95 said:

---

which one is it?

this article says retirement accounts will be drained below acceptable levels

other articles say we are in a period of massive wealth transfer from baby boomers to Gen X

---

I don't think most boomers will have anything left to pass down. Median of $400k in retirement accounts won't go far especially if the money printer keeps running. I don't expect any social security to be left when it's time for the bulk of Gen X to retire. If there is, it might buy a happy meal.

---

This. I think the great wealth transfer will be a myth. Business (mostly healthcare) will find a way to suck out all of that money.

---

They are passing it down....

to the healthcare workers!

Burpelson said:

---

Even if you retire with 2 or 3 million half will be wiped out by medical bills, the system is rigged, brace yourself.

---

literally whatever the median retirement account is for boomers will magically be the minimum amount it takes to die without adding debt to your kids.

Logos Stick said:

---

Furlock Bones said:

---

Its Texas Aggies, dammit said:

---

Aggie95 said:

---

which one is it?

this article says retirement accounts will be drained below acceptable levels

other articles say we are in a period of massive wealth transfer from baby boomers to Gen X

---

I don't think most boomers will have anything left to pass down. Median of $400k in retirement accounts won't go far especially if the money printer keeps running. I don't expect any social security to be left when it's time for the bulk of Gen X to retire. If there is, it might buy a happy meal.

---

This. I think the great wealth transfer will be a myth. Business (mostly healthcare) will find a way to suck out all of that money.

---

They are passing it down....

to the healthcare administrators and insurance companies!

---

FIFY

F16……where "Boomers" are second only to the Israelis at causing problems for people in the US.

Boomers - born 1946-64. That makes them 79-61……a goodly chunk have already retired.

"They say the number one killer of old people is retirement. People got a job to do, they tend to live a little longer so they can do it" - Bud

B-1 83 said:

---

F16……where "Boomers" are second only to the Israelis at causing problems for people in the US.

Boomers - born 1946-64. That makes them 79-61……a goodly chunk have already retired.

---

Based on labor force participation rate stats, about 65% of boomers are currently retired.