Aging women - the real problem and future investing strategies

arthur brode says on Mar 28, 2007, 18:16:

not me the future is looking $bright$ if they flock to Colombia

http://www.calirentals.net/

tejasmarcos says on Mar 28, 2007, 19:20:

it's inevitable for many latin american and south american countries. as the american lifestyle(rents) continue to become more expensive, the fixed income individual and couple(a percentage) will seek out other lifestyle options. costa rica paved the way and panama is the latest great thing. if i were a senior, i would much prefer Medellin to hot and sweaty (dirty) panama city.

my glass is getting shorter on whiskey, ice and water...

goin_south says on Mar 28, 2007, 21:33:

hey poco, it sounds interesting, but... how 'bout a "recap", somehow, since some of us don't or didn't watch tv.

and, thank you.

goin_south says on Mar 28, 2007, 21:39:

oh, BTW.... forgot to send congrats to Poco for staying power (of some sort):
over THREE YEARS on pbh. Not sure whether he's better or worse, because of it, or due to it, but...

Maybe Jacintobud, ColombiaMike and a few others (gringodiego? what happened to that one?) should stand up and take notice of what breeds longevity on pbh.

and, thank you.

poco says on Mar 28, 2007, 22:45:

A recap over THREE YEARS on pbh

Longer than that. Three years + ago I (and others?)required a new registration. I changed my screen name to something easy to type. I'm too lazy to type a name like el felizafortunado.

TWO SOLID HOURS and no commercials. The program covered a lot of ground and with oldies but goodie tunes as background. I was disappointed they didn't select the Stones singing Can't get no Satisfaction but I can’t hold that against them.

I can’t think of one item that was disagreeable or untrue. History is History and this was not a “REWRITE�.

The single most interesting conjecture about the future was that people are NOT going to retire at 65. One small businessman operated a sporting goods store was 101 years old, his son was 65 and said he wasn't thinking about retiring and two of his sons in their 20's worked at the store.

I had lunch with 5 other engineers. They were all older than me and I'm 60. One celebrated his 80th birthday a few months ago. They all had to get back to work. I don’t know anyone that is retired. I’m not exactly retired but I don’t work, but will if I get hungry.

They said that MORE people OVER 50 were opening new business than under 50. That was news to me.

I had a feeling this was true but the number given was MUCH higher than expected. ONE QUARTER of medical costs are spent during the last year of a persons life.

I've speculated this could be a problem. Will the older generation VOTE THEIR OWN INTERESTS and damage the younger generations? No answer of course but when the AARP paratroopers fall out of the sky take cover and don't trust a tank driver will stop if you stand in front.

I'll order the book, PBS needs donations anyway.

"Violence is the first refuge of the incompetent" - Isaac Asimov

mecca says on Mar 28, 2007, 22:50:

Poco That's definately interesting and I see a similar trend as well. I've got friends past retirement age that continue to work and their attitude is to continue till they drop. Granted, it's not back breaking work, but I don't think people take the 65 and definately out theme anymore.

goin_south says on Mar 28, 2007, 23:17:

I can understand slowing down a lil,... but, never stopping.
Well, I guess there would come ONE day, eh?

and, thank you.

arthur brode says on Mar 29, 2007, 06:57:

many Babyboomers can not AFFORD to retire due to the poor Social Security/Health care system.

http://www.calirentals.net/

poco says on Mar 29, 2007, 07:39:

Not even close to the correct reason due to the poor Social Security/Health care system.

Social Security pay for my 80 year old friend is $1,900 per month. When his wife is 65 she will get a lesser amount, $1,000 per month? and they will both have Medicare.

MediCare insurance is really inexpensive. He has supplimental policies and is signed with a large clinic, one of the best. He said he pays about $125 per month total. I've heard NO COMPLAINT with the scope or quality.

The idea was for people to work and be responsible. They worked but weren't responsible. No savings, too many cars, boats, divorces, kids, drugs, no education, etc. the list of how to fail is endless.

Social Security was originally envisioned as a "safety net". I'd suppose to keep old people from sleeping on the side walk. It was NEVER represented as RETIREMENT INCOME.

The Baby Boomer program used these numbers representative of 77 Million boomers and 2 million immigrates of the same age.
1/3 invested wisely
1/3 might pull it out
25 million live from pay check to pay check. Their only "pull out" option might be more related to sex and not finances.

I think one suggestion was that they need to work longer. I hope Walmart builds more stores because I think a lot of people will need a greeters job.

Lots of different information on the net but they all seem to indicate that the AVERAGE person is "screwed" when it comes to retirement and that means the other folks on the lower scale are REALLY SCREWED.

I'd say a majority of those SCREWED need to look in the mirror to determine who is responsible.

What will a set of these be worth in 30 years? Not only are these unnecesary but I'd bet most are part of a credit card purchase being paid at 18+ percent. Great investment.

"Violence is the first refuge of the incompetent" - Isaac Asimov

aztec says on Mar 29, 2007, 08:10:

arthur, SS... ...was never designed as a retirement system. Everybody knows you can not live on SS alone unless, of course, you move to a third world country.

arthur brode says on Mar 29, 2007, 09:43:

"Not even close to the correct reason"? It sure is one of the main reasons.
And who is living in a Third world country??In Colombia people retire when they are 55-60.(depending on how much they have worked) 75% of of the pension is based on their last payroll check.

http://www.calirentals.net/

poco says on Mar 29, 2007, 09:57:

Yes, not even close and NOT the main reason. It sure is one of the main reasons.

Arthur do you have a reading deficit or do you have a problem typing?

Where do you get your information on Colombia. PENSIONS are becoming extinct in Colombia. The pensioned people are being replaced with contract workers at every level. Hospitals, utilities, etc. ONLY workers at the higher levels get a pension. Police, military, government, teachers, large corporations, etc. ie: Professionals for the most part.

Large numbers will NEVER never receive a Social Security Payment. Social Health Insurance, YES, you can have a baby for maybe $30.00 total cost and they'll take a check. :) Need medicine,, well, go beg.

"Violence is the first refuge of the incompetent" - Isaac Asimov

arthur brode says on Mar 29, 2007, 14:30:

I get my info from a Lady that works at "Fondo de Pensiones" So you are saying that S.S. and cost of Health Insurance does not play a major role in why many Babyboomers can not afford to retire?? Tell that to the 40 million Americans without health insurance.

Atleast,the Colombian government provides health care for its Citizens.

Every Colombian that has worked most of his/her life has the right to receive a Pension.Its not just "Police, military, government, teachers, large corporations, etc. ie: Professionals"

15% is deducted from the monthly salary.75% of that is paid by the employer.the other 25% is paid by the employee.If you are affiliated with a private pension plan you can retire EVEN EARLIER because they give you the option of paying a higher percentage.

She says that only the Health sector of S.S. will be eliminated because of inefficient management,lack of funds,complaints about service.The people that were on that S.S. health plan(EPS) will be transfered to a private health plan(EPS)

http://www.calirentals.net/

Boatygringo says on Mar 29, 2007, 14:44:

Investing In my opinion when you have to do something it`s work when you do it because you want to it`s fun and. Remember when the time comes and you are lying on your death bed you wont wish for more money but for more time, Retire just as soon as you can end enjoy your self. Boatygringo

Boatygringo

arthur brode says on Mar 29, 2007, 16:00:

"Pensions are becoming extinct" Where do you get your info. on Colombia??

http://www.calirentals.net/

poco says on Mar 30, 2007, 07:25:

The number is NOT 40 Million So you are saying that S.S. and cost of Health Insurance does not play a major role in why many Babyboomers can not afford to retire?? Tell that to the 40 million Americans without health insurance.

Hello? We were talking about Social Security. I didn't know you were so poorly informed in addition to other deficits.

A persone needs to WORK and pay into S.S. just a LITTLE to have medical benefits when they retire.

Being an idiot and squandering your money does NOT mean you don't have medical care and the care is way superior to what you get in Colombia using their Social Medical Care system.

"Violence is the first refuge of the incompetent" - Isaac Asimov

southern151 says on Mar 30, 2007, 10:24:

All these numbers on N. Americans... Yawn...Here are some numbers that I found that you may find more interesting and useful about N. Americans.

A recent survey revealed that the average American walks 900 miles per year.

Another survey revealed that the average American consumes 20
gallons of beer per year.

Conclusion: The average American gets about 45 miles per gallon.

goin_south says on Mar 30, 2007, 10:38:

lol, southern! I'm glad I wasn't 'filling up' when I read that! It would have splashed all over my keyboard.

U can run but you can't hide

and, thank you.

southern151 says on Mar 30, 2007, 10:43:

Who wants to run?... It makes your beer foam and ruins the 45 mpg average.

goin_south says on Mar 30, 2007, 10:49:

check yer pm
U can run but you can't hide

and, thank you.

arthur brode says on Mar 30, 2007, 18:18:

you were right poco.its not 40 million.its 44.8 million!!!!

Census Overstated Number of Uninsured

By STEPHEN OHLEMACHER
Associated Press Writer
Posted March 23 2007, 12:46 PM EDT


WASHINGTON -- The government's estimate of the number of Americans without health insurance fell by nearly 2 million Friday, but not because anyone got health coverage.

The Census Bureau said it has been overstating the number of people without health insurance since 1995. The bureau blamed the inflated numbers on a 12-year-old computer programming error.






The bureau reissued figures for 2005 and 2004 on Friday. It plans to issue new numbers for every affected year in August, when the 2006 numbers are scheduled for release.

Health insurance statistics are widely cited in debates over the nation's system of health care, which is expected to be a big issue in the 2008 presidential election.

The revised estimates show that 44.8 million people, or 15.3 percent of the population, were without health insurance in 2005. The original estimate was 46.6 million, or about 15.9 percent of the population.

"The total impact is small," said Ruth Cymber, the agency's director of communications.

She said similar reductions are expected in previous years, leaving historical trends unchanged. In 2005, the percentage of people without health insurance was at its highest point since 1998, according to the original numbers.

Workers discovered the programming error when they were updating the computer system for the bureau's Current Population Survey, which yields data on income, employment and health insurance coverage. Some residents were counted as "not covered" by insurance when they had reported coverage. No other questions in the survey were affected, Cymber said.

The error dates to the initial computerization of the monthly survey in 1995, she said.

"While it is certainly good news that fewer Americans are uninsured than previously reported, this raises major questions," said Rep. Carolyn Maloney, D-N.Y., "For an agency that specializes in statistics, 1.8 million is not a minor error, it's major error."

Maloney, who serves on the House subcommittee that oversees the Census Bureau, said the errors raise concerns about all census data.

The Government Accountability Office warned in 2004 that the Census Bureau had inadequate standards for reviewing the quality of some of the data it releases.

"The more time that elapses, the greater the risk of releasing data with quality problems," the GAO said in a report.

She said the bureau has improved its review standards and is updating its technology.

"We now have formal process to make sure that we are using the latest technology," Cymber said.

The bureau reports health coverage statistics by race, age, income, gender and state of residence. The errors do not appear to be concentrated in any group, Cymber said.

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http://www.calirentals.net/