10/21/2004

Look out Seniors!!!!

Oil prices are going up and energy prices are expected to follow as we head into the cold and flu season. Many seniors who can't afford to pay for the price increases will be vulnerable to the effects. To top it off, the flu shot is in major shortage and this could only add to the nightmare.

This is another witness that something should be done about retirement. Two things will help.
1-Social Security reform: Social Security isn't going to last especially if things don't change.

2-Education about retirement planning: Letting people know how they can plan for retirement will help them avoid these problems. Unfortunately it is too late for a lot of people. Our generation hopefully realizes that they will most likely provide for their own retirement.


5 comments:

miles said...

I agree that Americans need more education about retirement. Social Security is not something that anyone should count on. Besides, life expectancies are increasing which means that we will be spending more time in retirement. This means that we need to be more concerned about retirement planning and make sure we have enough money that will last us our lifetime. Hopefully, seniors right now have had the education and saved wisely so that these price increases won't have such an effect on them.

Bryce Larkin said...

I really wonder how much the flu shot helps the American population. There are hundreds of different types of flu viruses and the flu shot helps with one type. I do agree there should be something done about Social Security because it will not always be there and taxing the American people more will not work. So, I think it is a good idea for more education on retirement.

John West said...

Unfortunately, it will probably take a lot more to get the American public to save than merely just teaching them how to save. A better tactic would be change the way in which society views success. Younger people think that Escalades, Hummers and Beamers equate to success. This in-turn increases the amount that society lives off of credit card debt. Generations previous to ours believed that hard work was the way to success. Nowadays the youth of this country wants everything right now and it is considered to hard to labor for years before reaping the benefits that come from it.

Maudi said...

As talked about in a previous article. As long as we keep working there will be social security and the elderly will be taken care of. Most of the elderly that I have seen and known live in a retirement community and just have to basically pay for rent. And most of the time, they have a family member taking care of that bill. I do agree that the shortage of the flu vaccination sucks, and when we do get more that they elderly and children who need it the most should get it first. All the rest of us can wait.

Dr. Tufte said...

Has anybody bothered asking why we should be more concerned about seniors? That is the wealthiest demographic group (on average) in the country. This is a common media story around this time of year, and it has urban myth aspects to it.