Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.

    • AntiOutsideAktion@lemmy.ml
      link
      fedilink
      English
      arrow-up
      3
      arrow-down
      3
      ·
      38 minutes ago

      It’s not their money. It’s rent money they stole from the next generations by being parasites hoarding property as an investment.

    • UnderpantsWeevil@lemmy.world
      link
      fedilink
      English
      arrow-up
      4
      arrow-down
      1
      ·
      2 hours ago

      That is their money.

      In 2022, 65% of people ages 65 to 74 had debt, up from 50% in 1989. In 2022, 53% of households headed by someone 75 or older had debt, compared to 32% in 1992.

      In fairness, this article is pure bait. It neglected the rising cost of living for people on fixed incomes and treats these draw downs on savings as a frivolity, rather than a consequence of inflation on senior care and medical needs.

      But liquidating household assets via instruments like reverse mortgages and loans against large savings accounts and pensions can mean saddling your children and grandchildren with big debts even after you’re gone.