10 Stats Not to Show Baby Boomers

Posted in the Columbus Forum

“animis opibusque parati”

Since: Oct 12

Location hidden

#1 Jan 18, 2013
via Doug Ross/ECB:

http://tinyurl.com/aanlwul

10 Stats You Should Never Show a Baby Boomer

ECB has 35 stats you may want to hide from any baby boomers you know. You may ask: Doug, of those 35, which are... the... 10... most... terrifying entertaining?

10. Right now, there are somewhere around 40 MILLION senior citizens in the United States. By 2050 that number is projected to skyrocket to 89 MILLION.

9. 25% of all Americans in the 46 to 64-year-old age bracket have no retirement savings at all.

8. 46% of them have less than $10,000 saved for retirement.

7. Elderly Americans tend to carry much higher balances on their credit cards than younger Americans do.

6. Americans that are 55 years of age or older now account for 20%of all bankruptcies in the United States.

5. In 1945, there were 42 workers for every retiree receiving Social Security benefits. Today, that number has fallen to 2.5 workers, and if you eliminate all government workers, that leaves only 1.6 private sector workers for every retiree receiving Social Security benefits.

4. Overall, the Social Security system is facing a $134 TRILLION shortfall over the next 75 years.

3. Medicare is facing unfunded liabilities of more than $38 TRILLION over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.

2. State and local government bodies in the state of California have $325 BILLION in combined unfunded pension liabilities.

1. The total amount of unfunded pension and healthcare obligations for retirees that state and local governments across the United States have accumulated is $4.4 TRILLION.

Bottoms up.

“Ludibrium est onus genio”

Since: Dec 11

Planet Earth

#2 Jan 18, 2013
-tip- wrote:
7. Elderly Americans tend to carry much higher balances on their credit cards than younger Americans do.
I wonder how much of this s "their" debt, and how much of it was advances to loan to their baby boomer kids who maxxed out their own.

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