[michou]

[QUOTE BY= peacedove] As you may know, babyboomers are people born between 1945 - 1960. Something like that. The earliest ones are now going to enter into their sixties. I was born in 1981. By the time people retire after 2024-2025, there will be nothing left in the CPP. Do you know why? It is because of the babyboomers.[/QUOTE]<br /> <br /> If there is nothing left in the CPP after 2024, don't blame the babyboomers, blame their parents who had the insensitivity of making lots of little boomers without thinking about those to be born later on in time, like the 80's for example. <img align=absmiddle src='images/smilies/rolleyes.gif' alt='Rolling Eyes'> <br /> <br /> [QUOTE BY= peacedove] <br /> This is one of the reasons we need more young people from other countries. With a lack of young people in this country, we will not create enough revenue for the next generation. There is no other way to solve this. We need more young people in this country and fast. If not, <b>the boomers will continue to free ride on us. </b><br /> [/QUOTE] <br /> Babyboomers are taking a free ride ? Pardon me ?<br /> What the babyboomers can and should be blamed for is to have continued making children, creating a generation of teflon kids, the have-it-all kids, the young adults hangers on, a generation afraid to put in the effort and time needed to better themselves, fearful of working too many hours, hoping they can maintain the same standard of living provided by their babyboomer parents but without the effort and cost to their privileges. <br /> <br /> [QUOTE BY= peacedove] With a lack of young people, the rest of us are going to have to overwork.<br /> [/QUOTE] <br /> You will not need to overwork, just work is enough. That's what the babyboomers have done. That's what many of their children do not want to do, having seen their parents work their butts off so their ungrateful children' s need would be fully satisfied. Yes we need more working immigrants. We need them not because the X, Y and Z generations will work too hard but because too many babyboomers will be obligated to continue 'over'working right into their ripe old age. Do you think their stay-at-home kids, now in their 40 and 50's, will care ? Of course not. Their kids will tell them they are to blame for it. <img align=absmiddle src='images/smilies/rolleyes.gif' alt='Rolling Eyes'> <img align=absmiddle src='images/smilies/rolleyes.gif' alt='Rolling Eyes'>

[Dr Caleb]

[QUOTE BY= peacedove] As you may know, babyboomers are people born between 1945 - 1960. Something like that. The earliest ones are now going to enter into their sixties. I was born in 1981. By the time people retire after 2024-2025, there will be nothing left in the CPP. Do you know why? It is because of the babyboomers.[/QUOTE]<br /> <br /> You mean the same Babyboomers that have been paying into CPP for the last 40 - 60 years? They are the ones earning the "free ride"? <img align=absmiddle src='images/smilies/rolleyes.gif' alt='Rolling Eyes'><br /> <br /> Even my grandparents didn't count on CPP to pay them what they needed to survive during retirement. I've been socking away money for mine for the last 20 years. Last year it earned 20% interest.<br /> <br /> You better start too. You have some catching up to do.<br />

[Reverend Blair]

It is a real problem. Bringing it up always makes the boomers mad though, and blaming them for being born makes them even madder...with good reason. I always find that entertaining because I'm part of that generation that came right after the boomers, so boomer-baiting is like a sport for me. The CPP thing works almost as well as making disparaging remarks about the Beatles. <img align=absmiddle src='images/smilies/lol.gif' alt='Laughing Out Loud'><br /> <br /> Neither Paul McCartney nor the CPP problem are really the boomers fault though. They paid into CPP and they get to take out. I'm sure if I think long enough I can come up with some reason to forgive them for Paul. <br /> <br /> My advice to you, peacedove, is to spend all of your money on cigarettes and fast cars...then you won't have to worry about a retirement plan. <br /> <br /> <img align=absmiddle src='images/smilies/biggrin.gif' alt='Big Grin'>

[Armageddon]

I don't see why there would be an economic crisis, if people were to just save a percentage of their income. <br /> For example, Trans-Alta offered my mom a plan for her to put 10% of her cheques into savings. I can't recall what kind, but nonetheless, she had told me at that rate, she could easily retire.<br /> Besides, one can always increase the retirement age to 70. With people living longer, they can work longer too by that logic.

[Reverend Blair]

Your savings devalue over time though, and depending on how much those savings earn, may not provide you with enough to live on when you retire, especially now that people are living longer. CPP, because it was invented after Canada existed, has also always depended on present-day workers to pay for those who have already retired. <br /> <br /> The predictions of doom should come with a caveat though...the boomers have stressed every system thoughout their existence. All of those systems were predicted to collapse under the weight of that generation as well, yet none of them did. <br /> <br /> I don't think you'll find much support for the spectre of people working longer either. Most people kind of look forward to not having to work at some point.

[badsector]

[QUOTE]. By the time people retire after 2024-2025, there will be nothing left in the CPP. Do you know why?[/QUOTE]<br /> I know why. It's because the money is stolen by corrupt governments and given to corporations. That's all.<br /> <br /> Retirement pension is a basic right. People, who spent their entire lives working, should be elligible for a fair retirement pension to spend their last years in peace and dignity. It was the 80s when the US and Canadian media (stupidifyier) outlets started showing documentaries about the "wonderful" system Hong Kong has, where there is no pension and everyone saves for himself. 20 years later, we are right there. We managed to erode the pension funds to the point where they offer didley squat for retirees. No problem, there are always the baby boomers to blame. The point the naive person totally misses is that sure a lot of people retire the same time, but it's also true that all those people paid into the retirement funds the same time. Where is our money Mulroney, Chretien, Martin, Harper? What did you do with it? Which corporate asshole did my retirement pension bought a private island for around Hawaii? Where is my money, assholes?<br /> <br /> Of course, in the 90s when people realized that their pension was taken away, governments started pushing mutual funds as an alternative. Remember those fund sales people? Explaining how your funds will always go up and value, never down? Explaining how much your investment will be worth in 20-30-40 years, assuming a 10% annual growth? Millions of people bought the horse shit and purchased mutual funds. Then the funds dropped and it took about a decade before they even reached their original value.<br /> <br /> No problem, if you have a good job, your company pays in your pension fund and pays for your retirement, right? Wrong. All the US companies are now cancelling their retirement pensions. They are even using the bankrupcy excuse to do that. Your company's pension won't be there when you retire, period.<br /> <br /> No problem, there are always stocks to invest in, right? Wrong. Nowadays the big wigs are really pushing stocks, even educating your people about stock investing. Gotta be a good thinkg, correct? Yeah right... The same big wigs pushed the mutual funds too, right before the collapse. They are now pushing the stocks for the same reasons: 1. The US economy and the dollar will collapse due to the US government defaulting on its debts within a few years. 2. A stock market adjustment is overdue. For sure, this is the worst time to buy a lot of stocks. If a lot of stock investors urge you to invest your money in stocks, you can be pretty sure the stock market crash is imminent. <br /> <br /> Whether it's mutual funds or stocks, the game is always the same. The bigwigs make their money during the bull market, when the stocks increase their value, then they dump their stocks on the losers who worry about their retirement. The losers take the brunt of the bear market, when the stocks keep dropping their value for a few years, and of course lose their shirts in the process. When the stocks hit the ground and half of the baby boomers committed suicide due to economic ruin, the big wigs will start buying stocks again.<br /> <br /> So, to cut to the chase, the corporations who hijacked our governments, stole our retirement pension, are using us as pawns for their stock market games, and even convinced most of us that somehow there is nothing wrong with this picture, where a person who worked 45 years won't have an income when he reires at age of 70. In this brave new world, this is the way to go. <br /> <br /> I feel sorry for anyone who believes these bastards.

[Reverend Blair]

[QUOTE]So, to cut to the chase, the corporations who hijacked our governments, stole our retirement pension, are using us as pawns for their stock market games, and even convinced most of us that somehow there is nothing wrong with this picture, where a person who worked 45 years won't have an income when he reires at age of 70. In this brave new world, this is the way to go.[/QUOTE]<br /> <br /> I guess that brings us back to the fast cars and cigarette option. <br /> <br /> I think the biggest mistake was ever assuming that we'd be able to retire in the first place. It's a relatively new concept, at least for working people, and not one that was ever particularly popular with those in power.