Something Terrible Is Happening To Boomers

There are 73 million baby boomers in the US and they can all retire by 2030. But at the same time, 45% of baby boomers have no retirement savings and they are becoming homeless at a rate not seen since the Great Depression. So what now?

LINKS MENTIONED IN VIDEO:

FREE STUFF FROM ME:

GET FREE STOCKS:

LET'S CONNECT:

00:00 What's going on with Baby Boomers?
00:43 The 1st leg of the 3 Legged Stool
02:01 The 2nd leg of the 3 Legged Stool
05:27 The 3rd leg of the 3 Legged Stool
10:00 Is this a good or terrible thing?
11:32 The biggest problem for Baby Boomers
13:30 But THIS might change everything...
______

Some of the links on this page are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe. Affiliate commissions help fund videos like this one.

All opinions expressed by Vincent Chan are solely Vincent Chan’s opinions. You should not treat any opinion expressed by Vincent Chan as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinion. Vincent Chan’s opinions are based upon information he considers reliable, but does not warrant its completeness or accuracy, and it should not be relied upon as such. Vincent Chan is not under any obligation to update or correct any information provided. Vincent Chan’s statements and opinions are subject to change without notice.

Past performance is not indicative of future results. Vincent Chan does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

[tatianastarcic]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[SuzyArking]

Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.

[patrickchadd]

The sad reality is that the generations AFTER the boomers will have even LESS retirement...

[LiamOlivia-]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[skinnypete]

My mother was a boomer. Did everything right. Paid off home. Had retirement planned and saved. Then she was forced to retire 10 years early due to brain cancer and tumor in 2011. Her insurance tried to drop her, obamacare was expensive and a nightmare. We eventually sold her home but it was 2013 by then so the money made from it was minimal. Disability income was horrid even though she had worked since she was 16. By the end we cared for her or she would have been in poverty even though she had done everything right all bc of cancer and being forced to leave work before retirement age. Healthcare in this country can still destroy a person even if they did all the steps right. This has happened to millions. So people please stop acting like its only irresponsible people who end up in extreme poverty when older bc thats some bs when we are talking about a country like USA

[michaelschiemer]

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

[LinLinLinLin]

It’s a broken system when you get punished for working hard and living long

[coolrsvid]

The forest was shrinking but the trees kept voting for the axe, for the axe was clever and convinced the trees that because his handle was made of wood he was one of them

[barbmelle]

Healthcare has become legalized theft. The same angiogram that was $12, 000 six years ago became $38, 000 three years ago and the last one was $70, 000. Same hospital, same techs, same procedure. $20 a month medication is now almost $100. I am already paying just short of $900 a month for health insurance and making monthly payments to the hospital for the 20% of their bill that the insurance does not pay. Something is broken.

[richardperritti]

I am a boomer and retired. My generation was told over and over again to save for retirement. Many of them did not. They spent all their money on bigger homes, more expensive cars, vacations and gave money to their children hand over fist. I watched my spending closely during my working years and saved as much as I could. Social Security is going to take hair cut sometime around 2030 to 2033. Your benefit could be reduced from 20 to 25%. In most cases that is right around $500 per month. You are being told almost 10 years out. Once again no one is listing. Now is the time to set aside some money to generate $500 a month or close to it as you can get, so you're ready for the haircut. Americans in general live way beyond their means and have a spending problem.

[allmivoyses]

I'm a "Boomer" and I can tell you exactly what happened to my money. It went to the healthcare system. Even with insurance I was a good, responsible, citizen and paid my bills. Over one million dollars in retirement savings gone, poof, nickle and dimed in inflated healthcare costs and purposely configured billing practices of insurance carriers. So now I quite literally have nothing. No retirement. I no longer own my own home. No more investments. The only "asset" I have is a 25 year old vehicle, and the only income I get is the $1405.00 the federal govt has decided I am worth in SSDI a month. Now please don't interpret this as me whining "Oh whoa is me", far from it. I'll figure it out. I always have. I'm using my example to illustrate what's wrong with the system and what needs to be fixed and why. Because if we leave it as is all we are doing is wiping out peoples retirements and forcing them onto public programs further taxing and straining the system.

[richcarroll]

Sad fact, Only 2% of homeless people are here illegally, The rest are citizens that were born in the U.S..tells something about the U.S government and how they treat there people !

[MeadowDay]

I’m sure our politicians don’t have these worries, they’re safe and sound in their mansions after screwing us over for decades.

[jerrrdy]

Since corporations are considered ‘individuals’ then tax them like individuals

[scorpiodelirium]

I'm Gen X and had my Mom move in with me 2 years ago as she could no longer work due to health problems and the amount of SSI she receives won't even cover the cost of a studio apartment. I think the most important part of this video is when it is explained how Regan, and every administration afterward, stole SS money that we are forced to pay into. I don't expect to see a dime of the SS that I have been paying into since I was 15. This in nothing less than the federal government defaulting on a loan that we are all required to pay into. Am I entitled? Hell yes I am entitled to be paid back a loan to the richest government on the planet. We are also entitled to damages because the FedGov stole our money from the SS fund. This is only one reason why I am no longer a "patriot" and why I have lost faith in both parties. Thieves and liars all of them.

[catgirl]

My Boomer parents worked so hard for so many years but lost their 401K savings and their jobs after the 2008 recession. My dad worked his butt off to try to recover the loss. It was hard to find new jobs because of their age. My mom never worked again after that and he ended up doing contractor work. My mom said that after 2008 the 401K never came back because her job stopped matching her contribution which was the only way it grew so there was really no employee benefit at all. Then a few years later she was forced out due to age discrimination. The only thing that saved them was my dad saw the crash coming, so they sold their house in 2005 and got something smaller. Otherwise they would have lost their house. My dad died unexpectedly in his sleep in 2019. My mom is living comfortably with no mortgage and off his social security, but she said all those years of contributing to a 401k and she only gets $200 a month from it. Even though I wish my dad were still here, I am grateful that he went the way he did and that I don't have to worry about elder care or long term illness with him. Sometimes I think he worked himself to death on purpose to protect my mom.

[sunnykobe]

“They got money for war, but can’t feed the poor”

[notquiteyoung]

This is the first time I've heard someone publicly vocalize that the relief of those taking care of their aging parents while trying to maintain themselves and their growing family comes at the cost of their parents' lives. As someone who is just starting their professional life and taking care of aging parents who are taking care of their aging parents and neighbours, the struggle has been real. Thank you for acknowledging this issue.

[GlitchedVision]

I'm sorry for this potentially unpopular opinion in advance but an economy is destined to fail if it is based on debt like ours has been for the longest time. Every economist that has said otherwise didn't look far enough ahead in their projections. Anyone living day to day in poverty can tell you taking out one loan to pay off another doesn't solve the problem, it only delays it. This is not just about the government borrowing from social security, it's also the entire industry dedicated to keeping people in debt.

[Diana-ynho]

Today, while walking down the street, I met a very sweet homeless elderly lady in a wheelchair and I started a conversation with her. I really felt sorry for her. It made me really angry how millions of dollars are spent on all kinds of nonsense and unnecessary expenditures while our veterans, disabled and impoverished elderly are suffering. Makes me sick!