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Older people in the US seem in better shape because earlier generations were on average wealthier and had higher incomes, hence greater savings. The present ge
by joe_the_user 6y ago
Older people in the US seem in better shape because earlier generations were on average wealthier and had higher incomes, hence greater savings.
The present generation is not headed towards a happy retirement at the expense of the present.
Edit: As another poster mentioned, the US values the lives of the rich and more of the old are rich, for now.
- closeparen 6y agoThe previous generations got a lot of stuff for free by promising each other pensions and not funding them. Obviously they were better off than we were: we don't have access to this trick anymore, and have to make actual sacrifices today if we want to retire in the future. To say nothing of the taxes we will have to pay in exchange for services long gone.
- joe_the_user 6y agoNah, Corporations (and the mob) generally stole the funds of the pension and used them. And they were promised pensions in line with prevailing wages, which were higher.