Soaring Bankruptcy Rates Signal A Coming Storm For Broke Elderly

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

Having a stock or bond portfolio that one owns is far better than a bunch of IOUs from the government that wasted the money on crap.

No its not, the market is fickle and controlled , and that is why they started 401K's to get everyone money, and decreased pensions. It's a gop thing.

 

[gipper]

Yeah, the ACA has done massive damage to this country, good find

Saw nothing about the ACA in that article, it was about senior's on Medicare.

It did specifically mention the loss of pensions. A decided Reagan era policy that is the number one reason for those pension losses.

I won't even go into the destruction of the middle class from trickle down economics that the majority of Americans recognize as the failure it is.

But we can leave it for another thread.

It did specifically mention the loss of pensions. A decided Reagan era policy that is the number one reason for those pension losses.

Liar.

Could the poster name the policy Reagan implemented that reduced pensions?

 

[gipper]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

Are you referring to the taxing of SS benefits passed by Reagan, which was a bill with considerable bipartisan support?

Are you aware Bubba expanded taxation of SS benefits?

 

[boedicca]

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

Having a stock or bond portfolio that one owns is far better than a bunch of IOUs from the government that wasted the money on crap.

No its not, the market is fickle and controlled , and that is why they started 401K's to get everyone money, and decreased pensions. It's a gop thing.

Uh - what exactly do you think 401Ks are? The choices one can invest in are alway stock, bond, or money market funds - or the employer's stock.

You obviously don't have much investment experience or knowledge. Over time, the returns on the stock market blow away the eensy beensy fake cost of living adjustments on SS. I'm managing my mother's money post my father's passing. They never made that much money, but lived frugally, saved and invested over a number of years. My dear little Dad died a millionaire, and left my mother set for a comfortable life. SS wouldn't have accomplished this.

EDIT: I'll also point out to that the SCOTUS has ruled that one does not have a right to receive SS, even if one paid into it one's entire life. The government can change the program and decide to exclude people from it.

Supreme Court Rules: Social Security is NOT a Binding Contract

 

[Wyatt earp]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

We thought Obama care solved that problem by covering pre existing conditions?



So more lies by the left???



.

 

[jc456]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

they didn't get mine. I made money, so did quite a lot of us in the market. we had 401Ks and invested wisely. it's all one has to do. his comment however is accurate. just saying especially during obammy's run. I made a bunch. still making out today under trump. I'm flying.

 

[jc456]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Trump is working on it.

how?

 

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

While many Americans confront these risk shifts, they profoundly affect older people.
Simply because of their age, this group is less able to effectively respond to the shifting risks.
Unstable employment is particularly problematic for older people. When they lose jobs, it takes
them significantly longer to find new ones and when they do, they typically earn less than what
they earned before (Hardy 2011). Retirement is a particularly precarious time of life. Full Social
Security benefits now begin at 70, rather than 65 (Ellis, Munnell, and Eschtruth 2014). The
penalty for early retirement increased from 20-30 percent (Quadagno, Kail, and Shekha 2011).

Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society by Deborah Thorne, Pamela Foohey, Robert M. Lawless, Katherine M. Porter :: SSRN

What a load of crap.

View attachment 214765

Benefits Planner: Retirement | If you were born between 1943 and 1954 | Social Security Administration

What is it you don't understand about Medicare?

 

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

Virtually all of those people would have been better off keeping and investing the SS taxes the paid throughout their working lives.

So wall street could have their money.

they didn't get mine. I made money, so did quite a lot of us in the market. we had 401Ks and invested wisely. it's all one has to do. his comment however is accurate. just saying especially during obammy's run. I made a bunch. still making out today under trump. I'm flying.

I'm a gal - and agree on the investing wisely. mr. boe and I have done quite well throughout the craziness of the dotbomb crash, financial crisis and recoveries - much better than giving it to DC.

 

[jc456]

Yeah, the ACA has done massive damage to this country, good find

Saw nothing about the ACA in that article, it was about senior's on Medicare.

It did specifically mention the loss of pensions. A decided Reagan era policy that is the number one reason for those pension losses.

I won't even go into the destruction of the middle class from trickle down economics that the majority of Americans recognize as the failure it is.

But we can leave it for another thread.

Pensions, which states have pension issues, blue or red states?

 

[boedicca]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Trump is working on it.

how?

Well, he's causing the Left to have aneurysms by disagreeing with them.

 

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Trump is working on it.

how?

Read. I am tired of explaining to those who don't bother reading and only like to argue about something.

 

[Harry Dresden]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

come on Bo....oh im sorry, you are the other one.....lol....

 

[iamwhatiseem]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

Medical bills that Medicare does not cover. I should have been more descriptive I guess.

What do you mean by "extreme care"?

I mean unnecessary tests and treatments that do not, in any way, effect the outcome of their disease or improve their comfort. The best thing my father did was sign a DNR (do not resuscitate) when he was diagnosed with brain cancer. It is a must, otherwise the hospital will rack up $100,000's in charges to keep an unconscious patient "alive" wherein they have zero chance of survival.
All of us had to stay on top of what the hospital and nursing home was doing, running routine blood test and xrays on a patient that is literally days from dying. And they will do it without asking. This happens all the time. It is common to see a persons entire life savings disappear in the last few months of life.

 

[jc456]

What a stupid conclusion.

Encouraging people to think that SS is a full retirement income program is deceitful.

For most it is. That's why it was established, and is the most popular government program in existence. What they had before SS was deceitful. Also immoral.

That's why it will never go anywhere, and if necessary taxes on wealthy people will go up to continue to support it continuing to provide full benefits to it's recipients.

kill the country. that's your solution? wow.

Trump is working on it.

how?

Read. I am tired of explaining to those who don't bother reading and only like to argue about something.

well sweetie, I've been in this message board for quite some time and you have never posted jack shit. just saying you wish to present a subject back it fking up!!!

 

[jc456]

It's pretty simple.
Interest rates are extremely low, good for people who want to buy stuff... lousy for people who are trying to save money. Not to mention there are waaaaaay too many older folks that have mortgages.

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

Medical bills that Medicare does not cover. I should have been more descriptive I guess.

What do you mean by "extreme care"?

I mean unnecessary tests and treatments that do not, in any way, effect the outcome of their disease or improve their comfort. The best thing my father did was sign a DNR (do not resuscitate) when he was diagnosed with brain cancer. It is a must, otherwise the hospital will rack up $100,000's in charges to keep an unconscious patient "alive" wherein they have zero chance of survival.
All of us had to stay on top of what the hospital and nursing home was doing, running routine blood test and xrays on a patient that is literally days from dying. And they will do it without asking. This happens all the time. It is common to see a persons entire life savings disappear in the last few months of life.

both of my parents had DNRs. , my sibllings and I also created a trust and moved their money.

 

[Penelope]

property tax in blue states.

Nope. Medical bills.

Medical bills that have nothing to do with insurance.
The fact is, IMO, it is a crime that so many elderly are receiving "extreme care"... that is, exorbitantly expensive medicines and procedures that either only keep them alive a few more weeks... or have little chance to improve their condition if at all.
As soon as anyone has an ageing relative that gets terminally ill.... you will see a side of the medical establishment that exist only to use these people as crops to harvest all of their savings.

Medical bills that Medicare does not cover. I should have been more descriptive I guess.

What do you mean by "extreme care"?

I mean unnecessary tests and treatments that do not, in any way, effect the outcome of their disease or improve their comfort. The best thing my father did was sign a DNR (do not resuscitate) when he was diagnosed with brain cancer. It is a must, otherwise the hospital will rack up $100,000's in charges to keep an unconscious patient "alive" wherein they have zero chance of survival.
All of us had to stay on top of what the hospital and nursing home was doing, running routine blood test and xrays on a patient that is literally days from dying. And they will do it without asking. This happens all the time. It is common to see a persons entire life savings disappear in the last few months of life.

both of my parents had DNRs. , my sibllings and I also created a trust and moved their money.

Good for them and good for your siblings.

 

[Penelope]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

We thought Obama care solved that problem by covering pre existing conditions?



So more lies by the left???



.

Medicare doesn't ask about PEC's.

 

[Crixus]

Older Americans are filing for bankruptcy at more than double the rate of just 25 years ago, a sign of a "coming storm of broke elderly," a new study finds.

The rate of people 65 and over filing for bankruptcy grew nearly 204 percent from 1991 to 2016, a study published by the Social Science Research Network found, and the percentage of seniors among all U.S. bankruptcy filers increased by nearly five times over the same period.

Soaring bankruptcy rates signal a 'coming storm of broke elderly,' study finds

The gift of Ronald Reagan keeps on giving.

Well, they just need to die faster.

 

[boedicca]

On a societal note: SS gave a lot of kids an excuse not to help their folks. And divorce has left a lot of elderly women poor. Just noting that destroying the family has contributed to this bankruptcy trend.