Quote:
Originally Posted by Papa_lecki
The next generation of retirees will have more wealth than the last generation. The house they sell will be worth more, wages are higher, the stock market had bigger returns, defined benefit plans (with little COLA increases) have been replaced with defined contribution plans.
As long as the Villages adapts (and the last generation seems to not like all the adaptation being made) - but they are for the next gen, not the last gen
The economics are different.
This isn’t a coal mining town, the economy of the villages is based on not producing anything’s, except an active retirement - apples and oranges.
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It’s not the post- Boomer generation that has to worry it’s the one after that which experienced company downsizing and eliminating pensions and benefits. Not everyone has investments and 401Ks etc. Yes, that’s years down the road but it will get here eventually. Experts, meaning those who examine socioeconomic trends, say those under 40 won’t have the quality of life or living standards of their parents.