The majority of Baby Boomers (U.S. adults born 1946 to 1964) are still in the labor force, and the oldest among them are staying in the labor force at the highest annual rate for people their age in more than half a century. In 2018, 29% of Boomers ages 65 to 72 were working or looking for work, outpacing the labor market engagement of the Silent Generation (21%) and the Greatest Generation (19%) when they were the same age, according to a new Pew Research Center analysis of official labor force data.
Plantagenet wrote:The Boomer generation began retiring 10-15 years ago......the oldest boomers were born just after WWII and so are now well into their 70s.
Plantagenet wrote:Where they are in political control Millennials seem to be tilting toward progressive policies like defunding the police, legalizing drugs, not prosecuting people who shoplift, and enabling the growth of huge "homeless encampments" filled with homeless people and lots of drug abusers living in tents and camped along the sidewalks and parks of some of our most progressive cities. Look at the cities with millennial mayors....Minneapolis for example, or Los Angeles. The homeless encampments are growing and crime is exploding in these cities, thanks to new progressive policies put in place by their millennial-age leadership. I look for those trends to continue as Millenials continue to take over across the USA as the huge Boomer generation slides into retirement.
Cheers!
noobtube wrote:The Boomers represented, probably the worst of humanity.......The BOOMERS can't disappear fast enough for me.
Plantagenet wrote:I re-read your link to the Mish commentary on Baby Boomer retirements.
A couple of things are clear.
First of all, your suggestion that the big boomer retirement has just "barely begun" is not accurate.
The Baby Boomer generation began retiring 10-15 years ago....and those who haven't retired are aging out of the work force rapidly.
Second, Mish himself answered your question as to what will happen after most of the Baby Boomers retire. If you go back and re-read the Mish article you'll find that he said that after the Baby Boomers retire the Millenials and Generation X will take over.
DiggitySmiggity wrote:Plantagenet wrote:I
The Baby Boomer generation began retiring 10-15 years ago....and those who haven't retired are aging out of the work force rapidly.
Uh, no. Baby boomers did not begin retiring....
Plantagenet wrote:Face Facts---millions and millions of baby boomers have already retiredPlantagenet wrote:The Boomer generation began retiring 10-15 years ago......the oldest boomers were born just after WWII and so are now well into their 70s.
theluckycountry wrote:A lot of the boomers I know began retirement around age 60, some in their middle fifties. If you're monied up it makes no sense to stay on the treadmill. Here Boomers went all in the property market, residential mostly, and it's proven to be a good bet, They sell a house in the inner suburbs today, pay their CGT and walk away with 500k or more. Then there is their private pension, Superannuation, which is still doing well. It's a good life, the hardest thing is often deciding which model new car to buy.
theluckycountry wrote:I'll tell you one thing @Plantagenet, when you have enough money, peak oil becomes more of an academic exercise than a looming disaster. What the millennials do with the future is of no interest to me now, let them eat cake and build homes out of their old iphones.
Plantagenet wrote:theluckycountry wrote:I'll tell you one thing @Plantagenet, when you have enough money, peak oil becomes more of an academic exercise than a looming disaster. What the millennials do with the future is of no interest to me now, let them eat cake and build homes out of their old iphones.
I know what you mean, lucky.
But I have to confess I'm personally very curious to see what the millennials and Gen X etc. will do now that they are taking over.
Cheers!
JuanP wrote:most people of my generation are worse than most people of earlier generations. I also think that Millennials are even worse
The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room. They contradict their parents, chatter before company, gobble up dainties at the table, cross their legs, and tyrannize their teachers.”
― Socrates
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