The Retirement Crisis (didn't know there was one) Hits Blacks Harder

[DGS49]

U.S. Retirement Crisis Hits Black Americans Hard

Many are hampered in building assets by such factors as less intergenerational wealth, more college debt, lower incomes and lower homeownership rates compared with whites.

www.wsj.com

Please pardon the pay-wall. The gist of the article is the self-evident argument that as a results of Blacks "sucking on the hind teat" of the economy for generations, Blacks approaching retirement age (and younger, of course) do not have the savings that would be required to - in conjunction with SS - be sufficient to live a tolerable lifestyle after retirement, or even to retire, truth be told. I used to joke that I would have to work until three years after I die in order to maintain my lifestyle.

The safety net is rather expanded for old folks (like me), so at the core of it you have some monthly stipend from SS and one's major medical costs are covered by Medicare (or a combination of Medicare and Medicaid). There are also food stamps and housing subsidies if you can get them.

It is a crisis, as it is for the "white" poor.

FWIW, BEFORE SOCIAL SECURITY, people who were too old to work looked to their families - their adult children nephews, nieces, etc. How sad that we have got past that way of thinking about our elders.

 

[Oddball]

"Women and minorities hardest hit"

 

[AFrench2]

Yes, there is a retirement crisis. The Baby Boomer generation (they're called that because there's a ton of them) are retiring.

The gist of the article is the self-evident argument that as a results of Blacks "sucking on the hind teat" of the economy for generations -DGS49

bahahahahahahahahaha

hahahahahahaha

aaaaaaahahahahahahaha

 

[theHawk]

Well yes, it stands to reason that the group of people that have the highest rates of crime, incarceration, drug use, homosexuality, HIV/AIDS, illiteracy, obesity and health problems, and single parent households would not be a great position to have a lot of wealth at their retirement age.

 

[Oddball]

Yes, there is a retirement crisis. The Baby Boomer generation (they're called that because there's a ton of them) are retiring.

The gist of the article is the self-evident argument that as a results of Blacks "sucking on the hind teat" of the economy for generations -DGS49

bahahahahahahahahaha

hahahahahahaha

aaaaaaahahahahahahaha

Because there are absolutely no blacks who are also boomers.

Could you please post some more of your sub-cretionous brain droppings?

 

[Polishprince]

Well yes, it stands to reason that the group of people that have the highest rates of crime, incarceration, drug use, homosexuality, HIV/AIDS, illiteracy, obesity and health problems, and single parent households would not be a great position to have a lot of wealth at their retirement age.

Actually, the average life expectancy of Homosexuals has been determined to be 43 here in America. So there will never be really a crisis of elderly impoverished homos as there are so few of them.

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[JoeMoma]

U.S. Retirement Crisis Hits Black Americans Hard

Many are hampered in building assets by such factors as less intergenerational wealth, more college debt, lower incomes and lower homeownership rates compared with whites.

www.wsj.com

Please pardon the pay-wall. The gist of the article is the self-evident argument that as a results of Blacks "sucking on the hind teat" of the economy for generations, Blacks approaching retirement age (and younger, of course) do not have the savings that would be required to - in conjunction with SS - be sufficient to live a tolerable lifestyle after retirement, or even to retire, truth be told. I used to joke that I would have to work until three years after I die in order to maintain my lifestyle.

The safety net is rather expanded for old folks (like me), so at the core of it you have some monthly stipend from SS and one's major medical costs are covered by Medicare (or a combination of Medicare and Medicaid). There are also food stamps and housing subsidies if you can get them.

It is a crisis, as it is for the "white" poor.

FWIW, BEFORE SOCIAL SECURITY, people who were too old to work looked to their families - their adult children nephews, nieces, etc. How sad that we have got past that way of thinking about our elders.

Of course before social security was also before birth control so families tended to be much bigger.

 

[Polishprince]

U.S. Retirement Crisis Hits Black Americans Hard

Many are hampered in building assets by such factors as less intergenerational wealth, more college debt, lower incomes and lower homeownership rates compared with whites.

www.wsj.com

Please pardon the pay-wall. The gist of the article is the self-evident argument that as a results of Blacks "sucking on the hind teat" of the economy for generations, Blacks approaching retirement age (and younger, of course) do not have the savings that would be required to - in conjunction with SS - be sufficient to live a tolerable lifestyle after retirement, or even to retire, truth be told. I used to joke that I would have to work until three years after I die in order to maintain my lifestyle.

The safety net is rather expanded for old folks (like me), so at the core of it you have some monthly stipend from SS and one's major medical costs are covered by Medicare (or a combination of Medicare and Medicaid). There are also food stamps and housing subsidies if you can get them.

It is a crisis, as it is for the "white" poor.

FWIW, BEFORE SOCIAL SECURITY, people who were too old to work looked to their families - their adult children nephews, nieces, etc. How sad that we have got past that way of thinking about our elders.

Of course before social security was also before birth control so families tended to be much bigger.

Large families were essential if you lived on a farm. My great aunt bore 12 kids to help her with her dairy farm. Nowadays, most farm work is done by machine.