USA Today Gives Elders a Bum Rap

Article By Ronni Bennet

According to USA Today, elder Americans are rolling in dough at the expense of younger generations:

If the USA Today writer thinks an average net worth of $249,000 is excessive, he should try living on it. Invested in safe securities, it earns about $12,500 a year. And anyway, most of the net worth of elders is equity in their homes which is always a volatile number depending on the housing market and which is shrinking now that the housing boom has busted and prices are dropping. I checked some real estate listings here in Portland, Maine, and I'd be hard pressed right now, if I wanted to sell, to get what I paid for my home just a year ago.

There are many problems with the distribution of wealth in the United States. One of them is not that elders are ripping off the young, and USA Today should retract this story with its selective and misleading information.

Abridged Read it all here >>

Posted by: janinsanfran on May 29,

That expresses hatred of older people. Hatred and jealousy. Gramps bought a house in 1972 that has increased in value nicely, all the while bringing up the most expensive kids that ever existed with their $125 sneakers and $32000 a year colleges, and he saved and invested as he could, so now he's got some money and USA Today is paying someone who wants it to be taken away from him?