Baby Boomers and Retirement
After the boom, a depressing retirement - why you don't want to rely on the government
In Saturday's "Sydney Morning Herald", there is an article by the truly awful Adele Horin entitled "After the boom, a depressing retirement" click here . It discusses the problem of funding an adequate retirement for the baby boom generation. It actually makes a number of good points and the conclusion, no surprise, is that most people are going to struggle.
It's the conclusion that is yet another example of the Collectivist mindset.
"But for the foreseeable future, access to subsidised medicines, a first-rate public hospital system and a decent age pension will remain the backbone of a dignified retirement. That's the reality baby boomers need to grasp."
No, that's NOT the reality boomers need to grasp! The reality is that governments are not going to be able to deliver on their promises! Why? Demographics and the harsh realities of public finances - the money simply will not be there. Many people struggle to understand this, particularly given the extortionate taxes that we already pay. The problem of course, is that much, if not most, of our tax dollars is wasted. People wouldn't need subsidised medicines etc (I won't talk about socialised medicine here, that's an entire blog in itself!) if they didn't have the government stealing so much of their income!
The harsh reality of our age is that every one of us will need to be financially self-sufficient. Governments are not going to be there to help us and in fact they are a major part of the problem. For a more detailed discussion of this issue, check out "The Sovereign Individual" by James Dale Davidson and William Rees-Mogg.
In Saturday's "Sydney Morning Herald", there is an article by the truly awful Adele Horin entitled "After the boom, a depressing retirement" click here . It discusses the problem of funding an adequate retirement for the baby boom generation. It actually makes a number of good points and the conclusion, no surprise, is that most people are going to struggle.
It's the conclusion that is yet another example of the Collectivist mindset.
"But for the foreseeable future, access to subsidised medicines, a first-rate public hospital system and a decent age pension will remain the backbone of a dignified retirement. That's the reality baby boomers need to grasp."
No, that's NOT the reality boomers need to grasp! The reality is that governments are not going to be able to deliver on their promises! Why? Demographics and the harsh realities of public finances - the money simply will not be there. Many people struggle to understand this, particularly given the extortionate taxes that we already pay. The problem of course, is that much, if not most, of our tax dollars is wasted. People wouldn't need subsidised medicines etc (I won't talk about socialised medicine here, that's an entire blog in itself!) if they didn't have the government stealing so much of their income!
The harsh reality of our age is that every one of us will need to be financially self-sufficient. Governments are not going to be there to help us and in fact they are a major part of the problem. For a more detailed discussion of this issue, check out "The Sovereign Individual" by James Dale Davidson and William Rees-Mogg.
posted by Kevin Francis at
10:36 am
