Home Mail Chat Wallpapers
Go Back   ChiefsPlanet > The Lounge > Washington DC and The Holy Land

Reply
 
Thread Tools Display Modes
Old 08-07-2018, 08:38 AM  
Loneiguana Loneiguana is offline
MVP
 
Loneiguana's Avatar
 
Join Date: Nov 2012
Location: Jefferson City
Casino cash: $22670
Bankruptcy Booms Among Older Americans

Thoughts and Prayers Boomers. You made this bed.

‘Too Little Too Late’: Bankruptcy Booms Among Older Americans

Quote:
For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy.

The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been building for years. Now, new research sheds light on the scope of the problem: The rate of people 65 and older filing for bankruptcy is three times what it was in 1991, the study found, and the same group accounts for a far greater share of all filers.

Driving the surge, the study suggests, is a three-decade shift of financial risk from government and employers to individuals, who are bearing an ever-greater responsibility for their own financial well-being as the social safety net shrinks.

The transfer has come in the form of, among other things, longer waits for full Social Security benefits, the replacement of employer-provided pensions with 401(k) savings plans and more out-of-pocket spending on health care. Declining incomes, whether in retirement or leading up to it, compound the challenge.

....

As the study, from the Consumer Bankruptcy Project, explains, older people whose finances are precarious have few places to turn. “When the costs of aging are off-loaded onto a population that simply does not have access to adequate resources, something has to give,” the study says, “and older Americans turn to what little is left of the social safety net — bankruptcy court.”

“You can manage O.K. until there is a little stumble,” said Deborah Thorne, an associate professor of sociology at the University of Idaho and an author of the study. “It doesn’t even take a big thing.”

The data gathered by the researchers is stark. From February 2013 to November 2016, there were 3.6 bankruptcy filers per 1,000 people 65 to 74; in 1991, there were 1.2.

Not only are more older people seeking relief through bankruptcy, but they also represent a widening slice of all filers: 12.2 percent of filers are now 65 or older, up from 2.1 percent in 1991.

The jump is so pronounced, the study says, that the aging of the baby boom generation cannot explain it.

Although the actual number of older people filing for bankruptcy was relatively small — about 100,000 a year during the period in question — the researchers said it signaled that there were many more people in financial distress.

....

The study does not delve into those underlying factors, but separate data provides some insight. The median household led by someone 65 or older had liquid savings of $60,600 in 2016, according to the Employee Benefit Research Institute, whereas the bottom 25 percent of households had saved at most $3,260.

That doesn’t provide much of a financial cushion for a catastrophic health problem. Older Americans typically turn to Medicare to pay their medical bills. But gaps in coverage, high premiums and requirements that patients shoulder some costs force many lower-income beneficiaries to spend more of their own income on those bills, the Kaiser Family Foundation found.

By 2013, the average Medicare beneficiary’s out-of-pocket spending on health care consumed 41 percent of the average Social Security check, according to Kaiser, which also estimated that the figure would rise.
https://www.nytimes.com/2018/08/05/b....nav=top-news&

Maybe another round of tax cuts for the top percent while we cut social security and medicare will do the trick!

Great thing they convinced you boomer to give up unions and pensions.

Good luck boomers! Pull yourself up by the bootstraps, get some training, and go support yourselves.
Posts: 16,791
Loneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby Piscitelli
  Reply With Quote
Old 08-07-2018, 08:39 AM   #2
chiefzilla1501 chiefzilla1501 is offline
In Search of a Life
 

Join Date: Aug 2008
Casino cash: $34597
In before this is inevitably blamed on millennials
Posts: 32,406
chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.chiefzilla1501 is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:39 AM   #3
Prison Bitch Prison Bitch is offline
Where's my WALL?
 
Prison Bitch's Avatar
 

Join Date: Nov 2012
Location: Lees summit
Casino cash: $60258
Immigrants will save your socialSec and Medicare / LWNJs
__________________
This latest murder in no way represents Islam.
Posts: 51,196
Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:40 AM   #4
Frazod Frazod is offline
Boo hoo
 
Frazod's Avatar
 

Join Date: Aug 2000
Casino cash: $5050
If you like your plan you can keep your plan/Hussein the Monkey Boy
__________________
I'm not mean; I just don't like you.
Posts: 101,737
Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:49 AM   #5
Loneiguana Loneiguana is offline
MVP
 
Loneiguana's Avatar
 

Join Date: Nov 2012
Location: Jefferson City
Casino cash: $22670
Quote:
Originally Posted by Frazod View Post
If you like your plan you can keep your plan/Hussein the Monkey Boy
Votes for republicans who want to cut medicaid and social security.
Blames Obama.
__________________
"Most of us can, as we choose, make of this world either a palace or a prison."
–John Lubbock
Posts: 16,791
Loneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby PiscitelliLoneiguana 's adopt a chief was Sabby Piscitelli
  Reply With Quote
Old 08-07-2018, 08:51 AM   #6
ptlyon ptlyon is offline
Bono & Grbac wasn't enough
 

Join Date: Oct 2000
Location: Sioux City, IA
Casino cash: $10023929
Just wait for the don't give a shit hippie generation
__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Advertise here: $19.99 a month
Posts: 18,671
ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:52 AM   #7
Over Yonder Over Yonder is offline
Veteran
 
Over Yonder's Avatar
 

Join Date: Aug 2015
Location: North Missouri
Casino cash: $1500
Quote:
Originally Posted by Loneiguana View Post
Votes for republicans who want to cut medicaid and social security.
Blames Obama.
Who are these people exactly? I would like Medicaid completely dropped and Social Security phased out. Who is it I need to vote for? I haven't seen anybody running on these platforms.
__________________
Quote:
Originally Posted by Prison Bitch View Post
Posts: 3,647
Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.Over Yonder wants to die in a aids tree fire.
  Reply With Quote
Old 08-07-2018, 08:52 AM   #8
Frazod Frazod is offline
Boo hoo
 
Frazod's Avatar
 

Join Date: Aug 2000
Casino cash: $5050
Quote:
Originally Posted by Loneiguana View Post
Votes for republicans who want to cut medicaid and social security.
Blames Obama.
When mommy and daddy declare bankruptcy and lose the house, you'll have to find a new basement to infest.
__________________
I'm not mean; I just don't like you.
Posts: 101,737
Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.Frazod is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:57 AM   #9
Direckshun Direckshun is offline
Make America Great Again
 
Direckshun's Avatar
 

Join Date: Oct 2006
Location: Springpatch
Casino cash: $33532
Quote:
Originally Posted by Over Yonder View Post
Who are these people exactly? I would like Medicaid completely dropped and Social Security phased out. Who is it I need to vote for? I haven't seen anybody running on these platforms.
Depends. How do you feel about bankruptcy booming among older Americans?
__________________
Posts: 54,033
Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.Direckshun is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:57 AM   #10
ptlyon ptlyon is offline
Bono & Grbac wasn't enough
 

Join Date: Oct 2000
Location: Sioux City, IA
Casino cash: $10023929
... And here's Alex Trebec with another reverse mortgage commercial
__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Advertise here: $19.99 a month
Posts: 18,671
ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.ptlyon is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 08:57 AM   #11
GloryDayz GloryDayz is online now
45, 46, 47....
 
GloryDayz's Avatar
 

Join Date: Oct 2009
Location: FEMA-Free Zone
Casino cash: $87480
Quote:
Originally Posted by Frazod View Post
When mommy and daddy declare bankruptcy and lose the house, you'll have to find a new basement to infest.
That's AWESOME!!!!
__________________
.
#BEPdefendsLyingWhores
#FFFFFFFF
#ServeAtThePleasureOfThePresident
#WitchHunt
#ObamaEraSurvivor
#InTrumpWeTrust
#AbolishTheFBI
#MeToo
#HeToo
#Doorknobs
#BotsMan...BOTS
Posts: 70,863
GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 09:01 AM   #12
GloryDayz GloryDayz is online now
45, 46, 47....
 
GloryDayz's Avatar
 

Join Date: Oct 2009
Location: FEMA-Free Zone
Casino cash: $87480
Quote:
inadequate savings
And there ya go.... So the people who are affected are affected because they those SS was a retirement plan and didn't invest.
__________________
.
#BEPdefendsLyingWhores
#FFFFFFFF
#ServeAtThePleasureOfThePresident
#WitchHunt
#ObamaEraSurvivor
#InTrumpWeTrust
#AbolishTheFBI
#MeToo
#HeToo
#Doorknobs
#BotsMan...BOTS
Posts: 70,863
GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.GloryDayz is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 09:03 AM   #13
Bewbies Bewbies is offline
Ith Fuhtbawl Time
 
Bewbies's Avatar
 

Join Date: Apr 2010
Casino cash: $15704
Let's make personal responsibility great again. So tired of every bad decision I make being blamed on someone else.
Posts: 9,447
Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.Bewbies threw an interception on a screen pass.
  Reply With Quote
Old 08-07-2018, 09:04 AM   #14
Prison Bitch Prison Bitch is offline
Where's my WALL?
 
Prison Bitch's Avatar
 

Join Date: Nov 2012
Location: Lees summit
Casino cash: $60258
Dumb thread

LWNJs looking for anything to knock the Don economy. Talk about grasping for straws


Seniors have by far the highest net worth in America. Don't feel badly for them.


Avg net worth 65+: $197k
__________________
This latest murder in no way represents Islam.
Posts: 51,196
Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.Prison Bitch is obviously part of the inner Circle.
  Reply With Quote
Old 08-07-2018, 09:08 AM   #15
ClevelandBronco ClevelandBronco is offline
Banned
 
ClevelandBronco's Avatar
 

Join Date: Sep 2006
Casino cash: $19055
Government needs to figure out a way to help more po' folk die younger—before they outlive their money.
__________________
"Faith and reason are like two wings on which the human spirit rises to the contemplation of truth ..."
– Pope Saint John Paul II
Posts: 24,778
ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.ClevelandBronco is obviously part of the inner Circle.
  Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump




All times are GMT -6. The time now is 06:03 AM.


This is a test for a client's site.
Fort Worth Texas Process Servers
Covering Arlington, Fort Worth, Grand Prairie and surrounding communities.
Tarrant County, Texas and Johnson County, Texas.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2018, vBulletin Solutions, Inc.