The Looming Threat Of Boomer Retirement

Thikn2velvet1

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I think if you rid the world of tax havens...you may have little shitbox nations who think they are wealthy..(and many of them are in the top 25 wealthy nations) because they hide other countries tax entitlements...well, they'll go bust because they have no income from other areas.....but you would probably go a long way in solving some pretty serious social issues in many of the worlds nations.

But hey...for some reason it's all to hard for nations to get together and outlaw it. Whatever party is in power.

Go figure....

How much money do you think is being sheltered?
 

seventiesdemon

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How much money do you think is being sheltered?
Well from what is able to be investigated and gleaned through the few books of the lawyers who have decided to come clean...it's estimated to be in the Trillions.

Adani alone..(Indian mining company)...who has been pushing governments here in Australia, especially Queensland, to open coal mines has about 20 to 50 billion locked up from his nation alone...1 mining company. Chevron (1 US mining company) which operates in Australia also has billions locked up in Singapore banks.........this is just 2 miners from 2 tax havens.

What do you reckon?

You have no idea do you?

A little google search of fact and truth will lead you to a world of realization...........but, I'm pretty sure you would melt away if you did this.

Best for you to stick with the ex Australian Rupert and his sly fox news..........His mother was a brilliant and great person.....he is a cunt who will chew people like you up and spit you out....so will his son Lachlan.

He became a US citizen because he realized there were more gullible people who bought his shit there than here in Australia...so he could buy more of your media and 20th Century FOX...cause it seems you believe any shit.


You ever noticed the tone of movies where the bad guy turns out to be the good guy since?

Nah, cause in real life, it never happens. Murdoch is a Cunt. Why....because a trillion is not enough...World domination is the goal.
 
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Thikn2velvet1

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Well from what is able to be investigated and gleaned through the few books of the lawyers who have decided to come clean...it's estimated to be in the Trillions.

Adani alone..(Indian mining company)...who has been pushing governments here in Australia, especially Queensland, to open coal mines has about 20 to 50 billion locked up from his nation alone...1 mining company. Chevron (1 US mining company) which operates in Australia also has billions locked up in Singapore banks.........this is just 2 miners from 2 tax havens.

What do you reckon?

You have no idea do you?

A little google search of fact and truth will lead you to a world of realization...........but, I'm pretty sure you would melt away if you did this.

Best for you to stick with the ex Australian Rupert and his sly fox news..........His mother was a brilliant and great person.....he is a cunt who will chew people like you up and spit you out....so will his son Lachlan.

He became a US citizen because he realized there were more gullible people who bought his shit there than here in Australia...so he could buy more of your media and 20th Century FOX...cause it seems you believe any shit.


You ever noticed the tone of movies where the bad guy turns out to be the good guy since?

Nah, cause in real life, it never happens. Murdoch is a Cunt. Why....because a trillion is not enough...World domination is the goal.

The entire GDP of Australia is $1.1 trillion. How could anyone have socked away trillions in an economy that small?
 

seventiesdemon

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The entire GDP of Australia is $1.1 trillion. How could anyone have socked away trillions in an economy that small?
Yeah....yet we make the worlds top 25 economies....even with 25 million people..... Again..you look on the surface.

You want to rub it in how tiny we are........you with Three Hundred and Fifty Million...compared to our 25 million.... You are really powering ahead aren't you, where was your nation when it was 25 million?..Back in the 1500's?.

Edgar J...one of your Presidents made his fortune in Aus before returning to the US to become your leader.

By the way...thanks for not answering facts...as usual for you.

You wish to pick on small?...Typical of how your nation has become under your present dickhead leader. Divisive and not United. You, you think you are oh so wonderful.....the downfall of every civilization before yours to forget you sprang from small beginnings.
 
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seventiesdemon

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Another thing..........If the Aussies had not fought the Japanese in Singapore...New Guinea during WW2..even though many of our troops were overseas fighting for the other blind deaf and dumb British...

If they had of gained a foothold earlier in Australia with all our resources and you way over there.......you would be toast....nuclear weapons or not...because the UK tested them here often...walked away and washed their hands....another bunch of users.

Proof of this is failure in Korea...and failure in Viet Nam.

If it were not for our General, his introduction to modern warfare of his tactics the idiots there would still be fighting WW1

In the end we are thankful the US and McArthur turned up to put a halt to it...Thank you for this..but remember we were 8 million back then in population and sending men and women to the other side of the world to protect other countries..

Your own nation has 1,000 CIA agents manning listening posts here in central Australia....for Your protection.

So yeah...don't underestimate us because you think we are tiny. Your ignorance and arrogance is typical of how you have become and will eventually be your end.
 
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bar4doug

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What you don't know about your parents' retirement plans could hurt you financially

Boomers will soon retire and most don't have much saved up for retirement. What's more social security is in dire straits which might lead to it being not as generous in the future. This might lead to future hardship for their children.

What do you guys think of this problem? Do you thinking is a big problem or just overblown? Should we worry about it? What can be done to fix it?

If someone thinks this shouldn't be in politics, it can be moved.

The problem is not new. The problem has been known for many, many years, yet those who are in power to correct it have just kicked the can down the road, because correcting it now does not serve short term goals, and those people in power who could correct it hope to be long gone when the bill comes due.

I have friends who are actuaries, and have told me that governments and pension plans have been, for years, using outdated risk data. Many of the formulas that were used to fund social and retirement programs were drawn up long, long, ago, when life expectancy was short, advanced medicine did not exists, and half the population smoked a pack a day. The payments required to fund life and medicine into retirement were never adjusted as medicine improved and lengthened people's lives, and people began to, in general, be more healthy. (Maybe obesity is the correction, I don't know... that's a discussion for a different thread.)

If you are a politician, one sure way not to get re-elected is to tell your constituents that you must raise their taxes to pay for benefits that, due to changes which have benefited the population as a whole, have decimated the benefits promised years ago... We live too long.

There were something like 20 people working for every person who was retired... Now it's like 3 to 1. Contributions of the workers must increase unless promised benefits are decreased.
 
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bar4doug

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Read a partly joking but mostly serious question on social media not too long that kind of went like. If jeff bezos gave everyone in the world a part of his wealth, what would you do with your $17.50?

Which is kind of mind blowing. I'm not sure if he does in fact make enough money to do that but it was one of the best ways i've read so far on expressing just how much more money the rich makes compared to the rest of the world. So i think starting there is a very good idea.

Actually, it's not a joke. While it appears the rich have lots of money, they really don't in the grand scheme of keeping the machine going. Sure, confiscate their wealth.. Maybe you push the due date to the right by a year or two... but then what? There's nobody left to tax or wealth to take.

Shit ain't free, but everyone thinks it should be.
 
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bar4doug

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General question to everyone, how much knowledge do you have of your parents retirement income? Do they have anything saved up?

My folks have been retired for many years. Their home was paid for outright before they retired. My dad gets small pension payments. My mom, too. Nothing glamorous - they aren't jet-setting across the globe - but at their age, they live their lives comfortably and can do what they want.
 

bar4doug

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You're very correct when you say that we need to get younger people focussed on saving for their retirement. But that is difficult to do and will only become more difficult as more people are forced to take care of their parents.

If you can't take care of yourself, you are in no position to take care of others.

It's tough to tell a 22 year old to defer 10 percent of their pay for retirement... "It's sooo far away... and I want to do this now..." is what response I typically get when asked how I've been able to get to where I am.

You can make more money in the future. (At least I sure hope you do...) But the one thing you can't get back is time, and the effect that compounding interest / growth has over long periods of it.

Schwab MoneyWise: Benefits of Compound Growth

A person who was able to save $1200 per month for only 10 years ends up with more than a person who also saved $1200 per month, but for 25 years, but started later in life.

Ticking away... the moments that make up a dull day...