Reply to What happens to people who saved nothing for retirement?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We're heading in a few decades toward a situation where there will be many homeless elderly people on the streets, man and women. No one will bat an eye, either. These homeless elderly people either had no children, or didn't value developing strong, close, positive relationships with their children, and are now navigating old age all alone. If you don't have the money, you'll end up on the streets. Elderly care is expensive.[/quote]

No, we have social programs for elderly people to provide them with a basic standard of living. [/quote]

Lol, we can't even house our homeless. How the hell do you think we'll have enough beds for all of them when they're old PLUS all the currently housed middle-aged people who will become elderly and too unwell to work and will need housing? Your math isn't mathing.[/quote]

Taxes.  We're not, as a nation, going to let mentally stable elderly people go homeless.  [/quote]

Oh, so you are ready to fork over more in taxes to the govt?  To the govt that needs to keep raising the age for SS because it's so poorly managed.  No thanks.  Already pay enough in taxes and am fairly confident the govt will actually not manage it well.  If they could, we would have universal healthcare, homelessness would not be much of an issue, etc with the taxes they currently collect.

My parents are in their 80s. They were LMC to low income much of my life.  I can recall at least 4, 6month+ times in my 18 years at home where my parents were unemployed/I ate free lunch at school/we got food stamps/etc.  They never made more than $60K/year combined at retirement age.  No pension, yet they somehow had over $850K saved for retirement once (including the family home which was only worth $250K).   It's your job to plan for retirement.  It is not the government's job to house you and take care of you if you choose not to do that[/quote]

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