Baby Boomers Are Going Broke Too?

I wrote an entire chapter about this in the the book: "The American Dream, Is it really a nightmare"?

Medical expense not covered by insurance is currently a major cause for bankruptcy in America.

Economic advisers have estimated that on average you are going to need somewhere around $500K to retire in a conservative fashion. Most people on average only have an estimated 60K or so in their retirement accounts, if even that.

It is now estimated that a couple who is 65 today will need almost 300K of retirement savings just to cover medical costs not covered by Medicare , for the typical elderly patient. With current and fairly recent returns on retirement accounts I sure don't see that happening.

Even while my accounts continue to lose value, the brokerage firms continue to charge my accounts hefty fees for a job not so well done. I guess that is my contribution to their retirement account? In addition, I have to pay taxes on any gains, yet get no deduction for the losses. What's up with that? Government, Wall Street, and Big Biz is what's up.

Fact is unless some type of miracle happens, a majority are not going to be able to retire, or even afford proper health care and living expenses for that matter. Unless of course they are on welfare or some other social program.

As I have asked numerous times prior: " Will the elderly and our veterans become the new ranks of the homeless? If not, who's going to pay that bill? Their children? Do you want to see your parents or grand parents in a soup line?

I guess we need to cut  taxpayer paid for benefits to insure our politicians and government's agenda's for war and policing the planet are kept in tact? NOT!!!

Think about the social and economic ramifications of one of our largest populous not being able to live, or possibly even survive.

What about people who have never worked but receive "social" paychecks and incomes? I guess they will be better off than the people who actually paid for those "incomes" and "benefits", that they will continue to receive regardless?

Something is really wrong with this "dream"!  WAKE UP before it's too late!   Read more in the book.

                              "American Me?" the book.          www.AmericanMeUs.com