I think this article misses a few things. Most people near retirement age just lost everything, and will in fact retire poorer than their parents. Those of us in our thirties and forties will be fine.
One friend of mine - my friend's mother really - retired just before the recession hit. She was a widow, invested carefully, retired.... Ended up loosing everything. Very sad.
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Originally Posted by TheSquealer
Oh.. you mean the same dipshits that bought homes, property, cars and all sorts of other shit they couldn't afford until they completely crashed the economy with their idiotic spending/borrowing?
Boo fucking hoo
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Yeah, I kind of agree.
I've often mentioned my friends here - they bought a house they couldn't really afford, and then when prices of houses shot up they took money out and bought all kinds of toys. I mean, between the two of them they barely cleared $100k (she was a cashier at a big box store), yet they had a boat, a jeep, jet skis, ATVs, a HUGE expensive pick up truck, and always had the most recent iPhones.
When the recession hit he lost his job, more than half of their income, and they lost their house and everything else. They ended up renting a house, he got job again, and they started spending again. A new motorcycle, new Corvette (used really) new ATVs.... Really?
Guess what. Seems they can no longer afford their lifestyle. They are selling everything again, and this time most of their furniture including their huge pool table.
Whatever.