Black People : Baby Boomers

Discussion in 'Black People Open Forum' started by deedee, Jan 19, 2007.

  1. deedee

    deedee New Member MEMBER

    Joined:
    Mar 19, 2006
    Messages:
    1
    Likes Received:
    0
    Ratings:
    +0
    Have anyone on this site ever thought of starting a baby boomer message thread. Everyone i've seen was catered to non-blacks.
     
  2. PurpleMoons

    PurpleMoons Administrator STAFF

    Country:
    United States
    Joined:
    Apr 22, 2003
    Messages:
    9,146
    Likes Received:
    1,097
    Gender:
    Female
    Ratings:
    +1,102
    Hi Deedee!:wave:

    I haven't heard anyone mention it here before.
    What do people talk about in a baby boomer thread?
     
  3. oldiesman

    oldiesman Well-Known Member MEMBER

    Joined:
    Feb 9, 2006
    Messages:
    1,539
    Likes Received:
    119
    Ratings:
    +120
    baby boomers...

    sounds cool to me,i guess it would apply to folks born between[1945-1960]which i'm one of so let's get to it.
     
  4. OmowaleX

    OmowaleX Well-Known Member MEMBER

    Joined:
    Jun 23, 2002
    Messages:
    2,414
    Likes Received:
    39
    Gender:
    Male
    Occupation:
    Educator
    Location:
    Aztlan
    Ratings:
    +42
    You just created one. Welcome!
     
  5. OmowaleX

    OmowaleX Well-Known Member MEMBER

    Joined:
    Jun 23, 2002
    Messages:
    2,414
    Likes Received:
    39
    Gender:
    Male
    Occupation:
    Educator
    Location:
    Aztlan
    Ratings:
    +42
    There are quite a number of issues which baby boomers can and do discuss.

    I'm sure that as more "Boomers" (such as myself) near retirement age a number of concerns include what is happening in this country with a lot of Elders having problems with retirement income not keeping pace with rising costs and consumer debt.

    I keep myself informed concerning changes in the economy and where I live in Teaxs home forclosure rates are increasing and a lot of seniors are becoming overburdoned with debt from revolving credit. This is important for their children because "Boomers" will be leaving their chidren with less inheritence while their estates will be more in debt. What this means is that instead of their parents leaving money behind more children will have to pay for their parents burial costs, while the estates will not clear probate due to unsettled consumer debt.
     
  6. PurpleMoons

    PurpleMoons Administrator STAFF

    Country:
    United States
    Joined:
    Apr 22, 2003
    Messages:
    9,146
    Likes Received:
    1,097
    Gender:
    Female
    Ratings:
    +1,102
    WoW!
    Well, if Baby Boomers are going to get down like that, I'm all ears! Although, I think we discuss alot of issues that concerns us all, it would be an honor to gather all the Boomers around the fire to listen to their concerns. How I see it, it would be like experiencing an ancient culture ceremony, where all the elders gather around to discuss the development of the community.

    So come on Baby Boomers, drop the knowledge!

    Thank you Brother OmowaleX for explaining this to me!:kiss:
     
  7. oldiesman

    oldiesman Well-Known Member MEMBER

    Joined:
    Feb 9, 2006
    Messages:
    1,539
    Likes Received:
    119
    Ratings:
    +120
    baby boomers...

    i too have been thinking about the retirement issue,in afew years it'll be my turn,it can be a scary thing to just think about not working anymore,like most of you i've been working all my adult life,it'll be a big ajustment.
     
  8. oldiesman

    oldiesman Well-Known Member MEMBER

    Joined:
    Feb 9, 2006
    Messages:
    1,539
    Likes Received:
    119
    Ratings:
    +120
    baby boomers...

    you know fellow boomers[and boomettes-smile]there are times when i see youngsters being disrespectful and just wanna sit em down and talk to em,the way our elders would've done with us if we acted up,of course today these kids would most likely cuss me out and want to fight,what happened to respect for your elders.
     
  9. OmowaleX

    OmowaleX Well-Known Member MEMBER

    Joined:
    Jun 23, 2002
    Messages:
    2,414
    Likes Received:
    39
    Gender:
    Male
    Occupation:
    Educator
    Location:
    Aztlan
    Ratings:
    +42
    You're welcome sister Purple.

    In my own situation, I early retired from teaching and have not worked for the past 18 months. Haven't really been looking much because what's out there for me is not much at my age. Wages are so poor in Texas that it's not worth the stress of substitute teaching when the pay is so poor. But I need to get on something quick before speanding what's left of my savings. I have already let my daughter know that it's gonna be tough on my end financing her through graduate school.

    Like most elders, my safety net is the equity in my NEW home. However, with escalating variable rates and a slowdown in the market I cant work the "fix and flip" strategy I hoped to work in moving here from Cali because the homes are standing so long for existing homes and now new housing starts are declining. What this means also is a decline in the actual real value of one's home. Since I liquidated other "assets" I am not yet in the red zone but getting close to it.

    What I have learned is that there greatest economic divide between Blacks and whites in this country (and I am sure that many will disagree with this) is that WHITES ARE EXTENDED MORE CREDIT.

    It is not that they actually posess more wealth, at least not on average. They are extended more credit and are thereby in more debt. White people, especially "white Boomers" are sinking this country into a deepening trade imbalance and are largely consumers who produce and manufacture less each day. And all of the financial markets are OVERVALUED.

    I have lived in predominately white areas most of the past 20 years, or in areas with large numbers of white consumers. On several occasions here (north Dallas metro) when I have gone shopping and paid CASH I have had cashiers look at me and make funny comments because MOST whites pay with credit cards. Some cashiers at department stores even have worked around credit restrictions to get me approved for their cards (most recently the GAP and JC Penney).

    The thing is when I qualified for my home financing I was told that I would not qualify for the lowest rates because I did not have a LONG history of revolving credit, and the accounts I did have were either with a late history or were paid off early. Yet, even though I now have qualified for more revolving credit, my rates are at 30% on some cards and my overall credit score has declined. At the same time, I have PAID OFF the majority of my consumer debt and as I speak I am up to date on everything, and ahead on a few accounts. So, the point here is that even without a job, there are more whites who are my neighbors who are closer to losing their homes than I am. Because they are overburdoned in debt.

    So, I must soon find something not to suffer the same fate. One illness or injury and hospital or other medical costs and cost me everything. And this is something else whites are experiencing. Escalating health care costs, and the lack of insurance plans to pay for critical care.

    I think this is the most important area that black "boomers" will be challenged in the future. The area of quality health care because states such as Louisiana are already rated as third world countries as far as their health care systems are concerned.

    As one Dallas newspaper headline recently read, "Cities' pensions fall short".

    A lack of municipal funds in some areas such as California and North Texas are threatening folks retirement systems. This was a major reason for me resigning from the Califonia teaching system, to take my retirement and run, before arnold governator reformed the system and put my savings at risk. Any way it goes, I was "at-risk". Stay and work 20 more years and be bankrupt, or early retire and payof my debt. No win situation.

    I worked in engineering before teaching and need 7 more credits to quality for social secirity so if I work seven years in corporate america and restrict my spending, I may still be able to early retire and live off social security and part-time work in a few years (if I make it to age 55) but some Boomers in that range are already experiencing problems with the social security system. And what some folks dont realize is that when some companies go bankrupt, theri workers lose their pensions. Just think. Some of your tax-deferred income is lost when a company "writes off" its losses, a part of which is income you already worked for and earned, but will never be paid.

    As this article stated "Call it pension tension."
     
  10. OmowaleX

    OmowaleX Well-Known Member MEMBER

    Joined:
    Jun 23, 2002
    Messages:
    2,414
    Likes Received:
    39
    Gender:
    Male
    Occupation:
    Educator
    Location:
    Aztlan
    Ratings:
    +42

    Respect for who? What's that?
     
Loading...