"The Boomer Century" on PBS Tonight

[Coach]

"The Boomer Century" is a two hour show on PBS tonight. Sponsored by Vanguard. Looks like it might be of interest to many of us. http://www.pbs.org/boomercentury/

Coach

 

[Cut-Throat]

It says that 1 out 7 Boomers plan on taking SS at age 62 and that 4 out of 5 will keep working after retirement age.

If this turns out to be true, nothing will have to be done to keep Social Security robust. Medicare is a different story.

 

[Mwsinron]

Looks interesting. Maybe I should take a nap because it doesnt come on till 10 where I am

 

[Cut-Throat]

1st hour is gone and the only thing that was obvious is that GW Bush did not learn anything from Vietnam. Those were his drinking days.

Also Ironic that Tony Snow is playing in a rock band the same week he has the return of cancer diagnosed. - Probably end of story for him.

 

[lazygood4nothinbum]

seems a bit self-aggrandizing. i would imagine previous generations might have produced a similar video if only they had video to film it or the ego to show it.

 

[maddythebeagle]

seems a bit self-aggrandizing. i would imagine previous generations might have produced a similar video if only they had video to film it or the ego to show it.

I agree...the previous generation saved the world....and the boomers brought us divorce, overconsumption, and entitlement....and their kids are brats too.

 

[REWahoo]

....and their kids are brats too.

Yes you are.

Interesting comment from one speaker who predicted the Boomer generation will experience a 'life crisis' in reverse chronological order from their parents and grandparents. The prior two generations experienced difficulties early in their lives (the depression, WWII), and he predicts the Boomer's big crisis will be late in life as they struggle with financial and long-term health problems.

 

[lazygood4nothinbum]

ya. i caught that reverse order too. and then during that struggle, after years of paying for the previous generation's social security, in order to leave great legacy, boomers will be asked to sacrifice their own security and comfort for the benefit of future generations. how oddly fitting for the me generation to leave a boomer legacy of martyrdom.

 

[REWahoo]

ya. i caught that reverse order too. and then during that struggle, after years of paying for the previous generation's social security, in order to leave great legacy, boomers will be asked to sacrifice their own security and comfort for the benefit of future generations. how oddly fitting for the me generation to leave a boomer legacy of martyrdom.

Hey, when I signed up for the sex, drugs and rock & roll I didn't see anything about that martyrdom gig. Musta been in the fine print...

 

[Nords]

Hey, when I signed up for the sex, drugs and rock & roll I didn't see anything about that martyrdom gig. Musta been in the fine print...

Don't worry, 78 million people rewriting history in retrospect will be able to cover their asses everything!

 

[lazygood4nothinbum]

Hey, when I signed up for the sex, drugs and rock & roll I didn't see anything about that martyrdom gig. Musta been in the fine print...

"life is uncertain. eat dessert first"~~ernestine ulmer

 

[lets-retire]

"life is uncertain. eat dessert first"~~ernestine ulmer

And then complain about the bill

 

[Eagle43]

I just finished watching it. Too much history; that part of the 2 hours could have been shortened to 20 minutes or less. So, what do you do about coming problems with social security and medicare? The program reminded me of the coming generational storm. The boomers might work a tad longer but the youngsters are gonna be griping about paying more taxes for all the problems depicted in the program. Was it said that 25 million boomers have a net worth of 1000 bucks or less? I must have been getting my wine refilled and didn't hear that correctly. That's pathetic, if I heard it right, and if it's correct, whose fault is that? Martyrs, indeed!

 

[Cattusbabe]

I also thought the show was interesting. I found it interesting that of the five things the host listed to improve ones financial situation and move towards a more secure retirement, he did not mention LBYM. To me that is key. I also like what Julian Bond said about todays young people. The Boomers got out there and agitated for change this group has to do the same.

 

[OkieTexan]

I thought the program was pretty shallow. It was a strain to fill up 2 hours.
Of course, we are going to redefine retirement by working longer.........gag!

I saw some good advice given about financial matters.... reduce credit card debt,
etc. He could have also suggested reducing consumption (LBYM); but I don't think he did. The rest of the content was high on fluff, low on substance.

 

[crazy connie]

The one that caught me (even though we all know it to be true) is that in 1940 (? year) that debt (which was mortgage only then) was 22% of household income and it is now 122%... Talk about Living BEYOND Your Means... SPOOKY

Creative mortgages & easy instant credit so improves your lifestyle. I think NOT.

 

[chinaco]

Of course, we are going to redefine retirement by working longer.........gag!

You probably mean MANY will work longer. I believe that is true. But a few... probably most on this board will not!

For some reason... I always remembered a story from childhood. The Aesop's fable of the "Ant and Grasshopper". At a young age, I saw a similarity in that fable and how my parents (who had a LBYM approach to finance)... and a conservative approach to life in general. It influenced me.

Those who prepared will be just fine... Those who did not prepare will have to deal with it by working later in life. It sounds like most boomers did not prepare and will have problems generating a suitable income without working.

 

[Outtahere]

I only watched the first hour, couldn't stay awake for the rest but it sounds like I didn't miss anything that hasn't been said before.

 

[donheff]

I agree...the previous generation saved the world....and the boomers brought us divorce, overconsumption, and entitlement....and their kids are brats too.

Saved the world maybe. But they also championed racism, sexism, homophobia, drunk driving and a host of other joys. The boomer generation reacted negatively to all of that and changed the world

 

[Cut-Throat]

Saved the world maybe. But they also championed racism, sexism, homophobia, drunk driving and a host of other joys. The boomer generation reacted negatively to all of that and changed the world

Yup I agree!

- And another thought that occured to me were the folks that were born from about 1933-1943, had the best of both generations. They didn't have to live through the depression, fight in WWII, most were too old for Vietnam. They Still got pensions and healthcare from MegaCorp and are now collecting SS.

I know a lot of these guys, I talk to them everyday - and most of them agree with me on this. We also all agree that we would not want to be a kid today with global labor competetion.

 

[Sandy]

My kids watched the first hour with us and it was a good opportunity to teach "history".

I was dissappointed that they didn't explore the future very well - only glossed at the edges. We are a very large, but not homogenious group. There will be a segment of healthy/wealthy (most on this board will fit that category), who live long, active, inquisitive lives, there will be a large group who will continue to work - for reasons ranging from enjoyment to financial need, and there will be a large group who are ill, poor, and struggling.

This is probably true of all past populations, but the sheer numbers, and the relative proportion of each of these groups will really determine the effect boomers will have an an older population. My gut, based on the many population, health and financial surveys, suggests that each of these groups is about equal, which is one of the things that makes it so difficult to anticipate the impact.

 

[farmerEd]

I thought the program was pretty shallow.

Thats an understatement...I barely made it thru the first 15 minutes before shutting it off...shame on PBS; I expect more from them.

 

[tryan]

Only lasted 45 minutes ... didn't hold my attention.

 

[Coach]

I was pretty disappointed with the program. I thought they gave boomers way too much credit for the civil rights movement -- that was well under way before we grew up. And I don't like this breathless excitement about life extension when we're unable to to extend mental acuity too. What was the statistic -- 47% of people over 85 suffer from dementia?

Coach

 

[FIRE'd@51]

- And another thought that occured to me were the folks that were born from about 1933-1943, had the best of both generations. They didn't have to live through the depression, fight in WWII, most were too old for Vietnam. They Still got pensions and healthcare from MegaCorp and are now collecting SS.

This is an interesting observation. There has been an enormous wealth transfer (especially through health care, but also SS) from the rest of society to those born in that time interval. Plus, there was less competition for jobs, since the boomer bubble hadn't arrived yet. And when they started to retire the boomers were there to bid up the price of their homes and buy their stock.