The cost of the two programmes will grow from 8.4% of GDP in 2010 to 11.2% by 2030.Meanwhile, as boomers retire, the workforce will grow more slowly, as will the taxes to finance their benefits.A university education is expensive (especially in the United States), and other rising living expenses began to nibble away at Jean and Howard’s middle-class lifestyle.As with so many of their fellow working-class Americans, their wages didn’t rise as fast as prices for a couple of decades, nor as fast as for other Americans enjoying a wealthier life.The number of people enrolled in Medicare (federally funded health care, available from the age of 65) will grow from 47m in 2010 to 80m in two decades' time.Enrolment in Social Security (federally funded pensions, available from the age of 62-67, depending on your birth year) will grow from 44m to 73m.As the years stretched on, they began to prepare for their retirement.But something bad happened along the way to their retirement plans.
In the past the political priorities and voting preferences of the elderly were much like everyone else's.
Their bank’s loan officer actually encouraged them; indeed, the friendly loan officer suggested they add on tens of thousands of dollars more beyond the value of their home just so they would have a bit of a cushion for themselves. Heck, it almost seemed like free money, this second mortgage. They had sunk most of their savings into their home since, like many Americans, their home was also their piggy bank.
Interest rates were reasonable, and the value of their home had been increasing in recent years. Indeed, it was free money, their own personal ATM . Across the nation, the collapse of the housing market in 2008 and the subsequent loss of approximately trillion in housing-based wealth amounted to a direct hit on the nation’s retirement security.
The National Marriage Project found that married men and women who go on a date at least once a week were 3.5 times more likely to report being “very happy” in their marriages, compared with those spending less alone time with their mates, not to mention that they’re less likely to get divorced., a routine likely to inspire a quick retreat to bed–and not because anyone is feeling particularly randy. In the wake of couples taking off to live happily ever after, How About We did amass a sizable database of ideas for excursions–to the tune of more than 2.5 million dates posted over the course of four years.
Not just any dinner and movie, Schildkrout is quick to point out.