1821 Great Gen

A couple of interesting statistics in the news recently about our aging population. By the way. I've noticed a lot of lawyers specializing in elder law issues. It must have a lot of financial potential. Maybe because old people are kind of slow, in both the way they walk and the way they talk. That also explains why some lawyers affect that slow-talking southern drawl customer interface. It makes sense.
And dollars too, as lawyers charge by the hour.
In any event, one statistic showed how Social Security is not the deal it once was. The folks of the Great Generation, who saddled us with their entitlement national debt, could get more than seven times what they paid in in benefits. Today's recently retired married couples, who've been paying in since the mid-fifties, will only get about $556,000 in benefits, even though they paid in $598,000.
So not only are the old coots living off us, and not only did they spend all the inheritance on RVs and Sun City deflated real estate, they spent all our Social Security too.
That why they call them the Great Generation. Because all our generation can say when we think of them is, "Great...another dollar down the drain..."
Which brings us to the second statistic. Nearly half of all Americans die with less than $10,000 in financial assets. Why is this no surprise? Between the bad decisions I mentioned earlier and crushing elder medical costs, there ain't much to start with.
Then, if you really do need long term care because your kids are going broke putting you up, the only answer is Medicaid and you can't have any assets over $2000 to qualify. Damned if you do and damned if you don't.
What generation created this mess?
Great...
America, ya gotta love it.