Quote:
Originally Posted by 1stLand
I just can't see how this generation is going to save for retirement let alone support themselves in their latter 20's and 30's.
I just hope I dont end up having to support them through higher taxes.
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I'm a member of Gen Y, who has a job, a house, a business, rental properties, and stock investments. The people I know who are my age work their tails off, save, invest, and are financially responsible.
I'm extremely concerned about the effect the Boomer's will have on our political system as they age. The elderly already get GIS, OAS, CPP, discounted services ($35/year for a transit pass, what the hell?!?), as well as using a disproportionate amount of health care. And don't tell me the elderly paid for their own CPP, that's BS. CPP wasn't paying for itself until a few years ago, so I get to pay for my CPP plus that of already retired people.
The burdens on the state due to the elderly are already huge, and the boomers have been getting free stuff from the gov't their whole lives. If they have the same effect on the programs for seniors, and the rest of us have to pay for it, my taxes will go up big time.
If that happens, I'll be selling out of Canada and moving offshore.