U
unimaginative2
Guest
I was obviously also speaking of the boomers in general. I must say, though, "Gen X" may be even worse when it comes to saving.
|
|
|
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
R
rbtaylor
Guest
Not directly, but capital gains taxation will still apply.There is no inheritance tax. So it can't be increased.
B
building babel
Guest
Abeja: There are no kids to benefit, just a cultural institution.
alfransen: Even in general terms, I don't think your characterization of boomers as, "spoiled fools that leverage themselves to the hilt and have never heard of saving" applies more than it does to any other age group. Indeed, levels of personal savings are considerably lower nowadays than they were when we boomers were in our twenties and thirties. Spendthrift, credit-fuelled culture thrives among Gen-Xers and twentysomethings - many of whom have never known a time when it was the done thing to save your money before you could afford to buy the latest gadget or whatever - whereas many boomers have already bought all the toys we need and are starting to downsize.
alfransen: Even in general terms, I don't think your characterization of boomers as, "spoiled fools that leverage themselves to the hilt and have never heard of saving" applies more than it does to any other age group. Indeed, levels of personal savings are considerably lower nowadays than they were when we boomers were in our twenties and thirties. Spendthrift, credit-fuelled culture thrives among Gen-Xers and twentysomethings - many of whom have never known a time when it was the done thing to save your money before you could afford to buy the latest gadget or whatever - whereas many boomers have already bought all the toys we need and are starting to downsize.
B
bizorky
Guest
Boomers are, in general, spoiled fools that leverage themselves to the hilt and have never heard of saving.
As a tail-end boomer person (and how I hate these categories), I have never been leveraged to the hilt. As someone who is self-employed, I pay both the employer and employee portion of CPP - plus contribute to my own RRSP. I know many other boomer-aged (ugh) individuals who do the same while paying off mortgages, putting their kids through school and so on. If some boomers (grr) are spoiled, it is something they have done for themselves, and probably done on the basis of having the money to do so.
B
building babel
Guest
Increasingly - as I age like a fine wine - I face the challenge of continuing to be thrifty and invest enough to see me through the upcoming retirement years, while at the same time enjoying all the good things to which I have become accustomed that make life such extravagant fun.
It is always a kind of juggling act, throughout life, weighing up various options. To take yourself out of the job market for five years to get a degree that ought to increase your earning power, for instance, or to take a year off work and travel the world. When I'm 70 and I take money out of the RRSP, for instance, should I buy an annuity that pays out a larger amount and disappears within a few years, or one that pays less and assumes I'll still be around at 90, probably completely gaga, living in a retirement home for old queens, and completely unable to spend it?
Either way, you young pups are going to have to pay for old Babel, and his boomer ilk, in our declining years and our hugely expensive health crises, through your taxes.
It is always a kind of juggling act, throughout life, weighing up various options. To take yourself out of the job market for five years to get a degree that ought to increase your earning power, for instance, or to take a year off work and travel the world. When I'm 70 and I take money out of the RRSP, for instance, should I buy an annuity that pays out a larger amount and disappears within a few years, or one that pays less and assumes I'll still be around at 90, probably completely gaga, living in a retirement home for old queens, and completely unable to spend it?
Either way, you young pups are going to have to pay for old Babel, and his boomer ilk, in our declining years and our hugely expensive health crises, through your taxes.
B
bizorky
Guest
Babel, I'm counting on you trail-blazing boomers to set in place all the good public institutions to benefit tail-enders such as my cohort. You are clearly a man of taste, so it will be shame when those institutions close as the last members of the boom take leave of this mortal coil.
Sorry, that did sound rather spoiled.
Sorry, that did sound rather spoiled.
B
building babel
Guest
I was born in the magic year of 1953 - always able to benefit from the trail of cultural and social innovations blazed by the early boomers, but not relegated to the sloppy seconds of passe trends inherited by the late boomers.
A
andreapalladio
Guest
I never know if I'm a late Boomer or an early Gen Xer. I'm probably not in either demographic, and therefore nothing.
B
building babel
Guest
A few years ago you claimed to be 36.
A late bloomer, maybe, but not a late boomer.
A late bloomer, maybe, but not a late boomer.
A
andreapalladio
Guest
That was a few years ago. I never know where 1967 falls, demographic wise.
B
building babel
Guest
The boom turned to bust in 1964.