[Newsbot]

Title: Survey finds Canadians pessimistic about retirement
Category: Misc CDN
Posted By: wildrosegirl
Date: 2011-03-08 15:32:03
Canadian

[martin14]

The Baby Boomers have fucked things up pretty bad, left Gen X'ers holding the tax bag.

Now they can't even retire fast enough.

[Freakinoldguy]

martin14 martin14:

The Baby Boomers have fucked things up pretty bad, left Gen X'ers holding the tax bag.

Now they can't even retire fast enough.

Why, does one of them have a job you want?

You should be happy since all we hear about is how short of labour our country is.

But, don't forget that Boomers are, in some cases are only a year older than the Gen X'ers, so shouldn't Gen Y be whinning about Gen X leaving them holding the bag just like you're whinning about boomers?

And so it goes on and on and on, one generation blaming the previous one for all it's problems.

[BeaverFever]

The real problem is three-fold:

1) Employer Pension and retirement plans are less generous and harder to understand than ever. Health and Dental benefits in retirement are virtually non-existant outside of union and public sector employement now.

2)Government retirement benefits (i.e. CPP, OAS) have not kept up with the times and offer inadequate payments to retirees.

2) The majority of Canadians lack even the basic level of financial literacy necessary to understand what (if any) pension/retirement benefits their employer offers and to make the appropriate decisions to manage those retirement benefits appropriately.

Baby boomers made this world, through their embrace of Reaganomics. So ya, they are partly to blame for voting in the people who endorsed these policies.