In The Pink Texas posted a post in the form of a letter from a man to his parents. While I agree with most of the letter, I'd have to also add that while the Baby Boomer generation bankrupts Social Security and votes overwhelmingly for politicians that drive up the national debt, they, too, are going bankrupt. As people live longer, we now face the extra burden of taking care of our parents in their old age more than ever before.
I think I would probably make a few changes to this letter. I would probably include:
Dear Mom and Dad,
We need to talk. You are both getting older now and we have to consider your future. Just as you taught me to prepare for mine, we should prepare for yours. I absolutely insist you only vote for candidates that promise to reduce the national deficit, fix Social Security and promise universal health care.
Where do I get off telling you how to vote? Well, it's like this. You have three sons. You have one that is responsible and consistently making substantial income. That's me. That means that it will be up to me to care for you when you become aged and infirm. I will not bankrupt myself because of a.) your poor financial planning for the last 20 years of your life and b.) you voted against your own best interests.
So, there you have it. Remember all that "tough love" you used to talk about? I love you, but there is absolutely a financial and quality of my own life limit. Selfish? Maybe, who's to say?
The way the world is now, I am freaking out about my own retirement. I find it hard to believe that I make six-figure income and am single and have a hard time saving money. Any extra financial burden is not planned nor acceptable. How in the hell a family of four could live on my income is beyond me.
So, let's discuss long-term care insurance and the distribution of any assets before you get Alzheimers. Let's discuss Advance Directives and Living Wills. Let's discuss what are your best interests for people in their late 60's and early 70's. It isn't terrorism or war or strong national defense. It's health care, Social Security, Medicare reimbursement rates, long-term care, and property tax reductions for seniors. It's reduced dependence on foreign oil and improved energy efficiency to reduce costs to people on fixed incomes.
So, I'll need to be with you on election day and guide your vote.
Whoa! What's with the intergenerational snark? I'm a Boomer. Let's not stereotype Boomer votes. I've always voted for candidates advancing universal health care and fixing social security. (something has to be done). Who isn't voting that way? Bubba Boomer and the Wingnuts, but not this one!
As for the letter, I don't have kids -- just dogs, and they are notoriously bad at contributing financially -- so am not reacting based on my own situation. But I read that and said to myself "Yeah, well ... pay back everything Mom and Dad spent on you -- room, board, clothes, Christmases, Birthdays, trips, high school, cars, college, etc., and we'll talk."
I'm just saying ...
"I find it hard to believe that I make six-figure income and am single and have a hard time saving money."
Likewise, I find it hard to believe.
You must practice constant "instant gratification" and have a hard time distinguishing between "wants" and "needs". Does everything have to be "designer" or do you settle for generic? Do all eating out occasions have to be 4 or 5 star, or are a burger with fries, simple Tex-Mex or an old fashioned hotdog with all the trimmmings acceptable at times.
If you live and spend up to your income, you will never save. Put savings at the top of your budget each month and you will not miss it after a couple of months. If your employer offers payroll deductions for savings or an 401, of course sign up.
that, and lay off the blow.
RSS
Or maybe we could just watch Logan's Run and see if we can find some common ground regarding carousel.