Boomers refuse to retire; are gen XYZ and millennials are getting screwed?

Photo above - MSN blames "boomers who refuse to retire" for the lack of good jobs for everyone else. Did they mean THESE guys?

Okay – we’ve all seen this complaint before. Too many geezers are hanging onto their jobs after age 65. And it’s not just Trump, Biden, and RFK vaxxer. There are bunch of guys using up all the oxygen at almost every company. (see MSN link below)

The younger generation would be entirely justified at their maniacal hostility toward boomers. Except that . . . unlike gazillionaire politicians, the typical boomer can’t afford to retire.

First off, there are Social Security annual increases which fail to match inflation: the 2026 Social COLA was 2.8%. If you believe this was also the real inflation rate you must someone who has a “maria” who does your grocery shopping. And Medicare premiums rose 10%, effectively wiping out any social security gains at all. You cannot escape Medicare part B premiums – they are automatically subtracted from your check, no matter what. That social security net check was smaller for millions of retirees.

Boomers are blamed for not selling the family home too. But if they move and need a new mortgage, it will be MUCH higher than what they paid last time. If they just sell their current home outright and try to pocket the cash, then taxes, escrow, closing costs and capital gains could induce a heart attack. (heirs - stop applauding). Not to mention soaring property insurance and homeowners association fees if they want to move south to avoid the current mini ice age.

Some boomers are actually working AND collecting social security. And paying income taxes on both paychecks. Working not just because they have adult kids at home, or because they are buying essentials for the grandkids. Raise your hand if you know an adult kid whose parents are covering their phone contract, car insurance, or health premiums.

Someone in congress is sure propose a law. “To make things fair”. More penalties if boomers keep working. Higher taxes? Higher retirement ages? Wait – that’s already happening. That’s why boomers are still working in the first place. Forced retirement may be the best bet, right?

Except when this legislation comes up in congress, you absolutely KNOW politicians won’t make the rules apply to themselves. Do as I say, not as I do . . .

I’m just sayin’ . . .


Boomers are refusing to retire and it’s quietly changing who gets hired

https://www.msn.com/en-us/lifestyle/career/boomers-are-refusing-to-retire-and-it-s-quietly-changing-who-gets-hired/ar-AA1UpmGw?ocid=msedgntp&pc=HCTS&cvid=698098d46f964bf48dfc64a37109ea7a&ei=103