Boomers Need MORE Job Security And LESS Free Money

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Lately, so many media outlets seem to be discussing the premise that Baby Boomers are wealthier than this current Millennial generation.  I have long been suspicious of this.

 

When we Boomers were raising our kids, did we have any national debt?  What was the rate of unemployment?  I remember it being MUCH worse in the ‘70s and ‘80s than it is now. How many of us Boomers felt so entitled as to expect that we should should still be on our parent’s health insurance policies through our late 20’s?  How many people viewed six years in college studying non-practical courses of study as time and money well spent?  But lord forbid we question the concentrations of study for our Millenial children.

We’re fast approaching the moment when we have more people collecting money from the government than we have people paying taxes into it. When that tipping point is reached, we will all be screwed.  If I’m only working and paying taxes so that my neighbor can live on those taxes, where’s my motivation to contribute?  Why not just join him in the money line?

Medicare and Social Security are programs that we paid into all of our working lives with the expectation that they’d offer us a cushion when we reached retirement. These programs were never meant to provide a lavish retirement income, but to keep us from becoming homeless and destitute.

They’re a good idea because too many of us, given the temptations of a new boat or bigger house, lack the restraint to save as much as we should. And they’re funded by money we earned. No one under age 55 is expected to be affected by essential upcoming changes to these programs.  But for those over 55, we are possibly in peril.

“Free” — as in college, health care, food stamps, child-care, etc. — is an illusion. Nothing is free. Someone’s picking up the tab. Or, as Margaret Thatcher famously said, “Socialism is fine until you run out of other people’s money.  For a sobering look at the financial situation in our country, put this link on your desktop and have a look every few weeks: www.usdebtclock.org.

I’m not surprised at the news that our kids are in worse shape than we were at their ages. There’s only so much money to go around and when you have a government that spends like a drunken uncle, the impact is going to be felt by us all.

Gee, this has been gloomy, hasn’t it?  I think I’ll go shopping! Want to know how I get my retail therapy?  A couple of times a year, I’ll go to whichever variety of store suits my spendthrift mood, take all the time I want loading up my basket with goodies, and when I feel sated, walk away and meet a friend for lunch.

No, it’s job security for some lucky employee — and there’s not much of that out there these days.