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][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]

Let's bet on this. If you're wrong, I get to come live at your house, okay? See ya in 35 years, roomie![/quote]

I’m the PP. I’m not betting on this. I’ve maxed out my 401k since my first real job @ 22. I do think it’s unlikely we’ll ever remove our safety net for older Americans, and I’m fine with paying taxes to provide it. [/quote]

What safety net?  Besides Medicare and crappy nursing home if you have no money?  SS is something you pay into, if you don't pay in (or spouse didn't) you don't collect. [/quote]

But the majority do pay in, unless they worked illegally or had a job that provides a pension instead of SS.[/quote]

Exactly, so SS is NOT a government safety net.  It is getting back what you paid into the program (or at least a portion). My point was there really is NOT a safety net for elderly besides Medicare.

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