Quote:
Originally Posted by IliketoPuck
What he means by the generational wealth transfer is that the Baby Boomers will soon (some already have) start to leave the workforce and begin to collect on their Canadian pension plans. The problem is that there is way more people that will begin collecting, than people that will be paying into the program, creating a transfer of wealth from the younger generation, to the older. The end result will be that social programs will become drained as the amount of $$ going into them will be insufficient compared to the amount that has been promised to retirees by the government.
So essentially the government has promised a whole lot of money due to its social programs, but it is possible that by the time I am ready to retire the piggy bank willl be empty or my benefits will be significantly less than those of the retirees of the previous generations.
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Then young guys like us have two choices - either save like a madman, or lobby for legal euthanasia and avoid retirement altogether
