I understand the sentiment but what he is saying is also important. Imagine, starting tomorrow everyone above 60 will get 5000 dolars every month. Will this couple in particular be able to live with it or will they make more bad choices.
I’m 100% pro supporting the retired community but Financial literacy is also very important, otherwise it doesn’t matter how much money you give them.
It’s so important to teach finamcial literacy from an early age
edit: just to add I’m not american. My.mother is 70yo and in my country retirement is supported by the government, but she still makes shitty choices from time to time.
That’s why you don’t give out money, you subsidize what people need in their age - rent, mobility, care. You can’t make wrong decisions with money that is bound to services - it also means whatever comes, they are neither threatened by homelessness nor isolation. But that would be socialism, and we know how the US thinks about that, regardless of consequences like letting old people die in the streets.
I understand the sentiment but what he is saying is also important. Imagine, starting tomorrow everyone above 60 will get 5000 dolars every month. Will this couple in particular be able to live with it or will they make more bad choices.
I’m 100% pro supporting the retired community but Financial literacy is also very important, otherwise it doesn’t matter how much money you give them.
It’s so important to teach finamcial literacy from an early age
edit: just to add I’m not american. My.mother is 70yo and in my country retirement is supported by the government, but she still makes shitty choices from time to time.
That’s why you don’t give out money, you subsidize what people need in their age - rent, mobility, care. You can’t make wrong decisions with money that is bound to services - it also means whatever comes, they are neither threatened by homelessness nor isolation. But that would be socialism, and we know how the US thinks about that, regardless of consequences like letting old people die in the streets.
I will be able to afford to retire where I live, I cant afford to retire in Manhattan or Monaco.
Is that really the only solution? A one liner?
It should rather be possible for some people to live in a retirement home.
I’m sure it was just an example.
An example of something that doesn’t work, is not a very good argument that it is impossible to make work.