How The Worldwide Aging Crisis Could Affect The Economy & Your Future: The Silver Tsunami Explained

100 thoughts on “How The Worldwide Aging Crisis Could Affect The Economy & Your Future: The Silver Tsunami Explained

  1. Thoughts? Are you worried you won't be able to retire at a reasonable age? Or that perhaps you won't be able to get the benefits you've been paying into by the time you do retire? Let us know in the comments!

  2. As someone who already knows my cancer will likely progress sometime between when I'm 65-70, fantastic. I didn't want to retire before I die anyway.

  3. I'm my opinion there should be legislation to allow people at a certain age to opt out of life if they are of sound mind, regardless of health.

    My grandfather for example, he has lived a full life but since retirement after traveling for a few years he seems bored and at times depressed with simply existing. He was a doctor for several decades but now he just seems to be biding his time waiting for the end. It saddens me to see him like that.

    When I get to retirement age I would hope something like this would be available. I dont want to wait around to die, I'd like to go out on my own terms with my dignity still intact.

  4. LET PEOPLE DIE! Why do people hate/are scared of dying? There's so many people here that don't want to be here. Just let them leave!

  5. As someone born in 1989, I pray for an early death and understand there is no retirement for my generation. World will probably end before we hit 60. What's the point of retirement or reproduction with the threats of climate change and mutually assured destruction ?

  6. Raising the retirement age doesn't mean squat if companies continue to lay off their older workers as soon as the workers start hitting 60-65 years of age. As workers age, they are not able to keep up physically with younger workers or keep up the grueling hours required in many jobs. So then what? They'll be forced to "retire" before they're eligible for benefits, and they'll have to go on food stamps or some other assistance to bridge the gap.

  7. I've pretty much given up on the idea that social security will be available to me by the time I'm old enough to collect it. Or, if it is still around the amount distributed will be so low that I may as well not even bother.

    I have a couple of different retirement savings accounts through my job but I feel like even those might not be a safe bet. I know a lot of people who watched their retirement savings shrink significantly during the recession. And who knows what the markets will do over the next few decades?

    My aunt recently retired with not only enough money to cover her living expenses for the next 30+ years, but also plenty left over for indulge just about any hobby she could think of, and then some. My aunt was an RN, so she made pretty decent money, but she wasn't exactly bringing home the big bucks. She was just really smart with it. She had retirement accounts, and I alao believe that she also gets a modest pension.

    But her real wealth accumulation came from working with a really good financial planner starting when she was in her early 30s. She put me in touch with this guy a couple of years ago and I've been working with him as well.

  8. Where the heck is the incentive for young? Look at the cost of having kids. Look at the cost of school. Look at the social expectations where every movie shows your friend looking in horror at the end of your life with you say you're pregnant? A massive attitude change and financial policy corrections are needed.

  9. wow, not to be ignorant but I didn't need to have these thoughts… still I always enjoy the knowledge this channel brings

  10. I'd like to point out that we (currently a med student graduating in a couple months) do not pick our specialties based on how much student loan debt we owe. To say so does a disservice to the profession as a whole. People already think that doctors are only in it for the money and, although it may be true for some, its definitely not for the majority. Overall though, great video, very informative for those out of the loop.

  11. To clarify, we’re damned if we do and damned if we don’t. If we have kids, the planet suffers. If we don’t, our economy may suffer, and I’ll have been paying for benefits I’m never gonna get when I retire. Nice.

  12. I mean, they’ll all just die from the c-virus so it’s not that much of a problem

  13. Before I freak out, you can fuck off with that 'we are living longer'. Many jobs are brutal and cause wear and tear on the body. Why do you think that the labor force participation rate increased for people age 65-69? They likely can't make ends meet and need the money. Surely, those are not higher paying jobs either. How much do you want to be that the reason that there was a 30% increase in women is because their husband died or no longer can work?
    Finally, what kind of quality of life to you expect after age 70? The average age expectancy is 81.4 for a female and 76.3 for a male. We work 50+ years of our life. Many grandparents are also taking of their grandchildren because both parents have to work in order to make ends meet.

  14. Easy fix, make it a good idea to have a kid. Make it easier to raise a kid safely.

  15. I would imagine that the reason why I less people are having kids nowadays that's because they want to make sure they're able to take care of themselves first before anything. The most people aren't able to because they can't get a job most likely because either they didn't finish High School, the school they went to didn't teach of that shit, are they probably don't got too many jobs in their area to begin with.

    Not too taken count that jobs wants you to have up to 50 hours or so of free fuckingabor from God knows where, stupid ask a hundred questions surveys the half at a time have riddles instead of actual questions, and most jobs nowadays requiring you to do applications online and only online. On a website that don't even work.

    I think it has a lot to do with more than just people not wanting kids

  16. You can't just import tens of thousands of doctors + all the future specialists, the brain drain problem will just kick the can over to china, india, et al's massive populations that will need far more geriatricians.
    You can't just make people work more to avoid paying them SS, they're already virtually useless at 70 — especially considering most people are not highly trained. That's just kicking a dead/dying horse so you don't have to feed it.
    Robots? That's already happening and it's not just happening to the elderly in terms of workforce; businesses are always cutting costs and labor is almost always the first to go. Don't look the gift horse in the mouth
    Asking the billionaires to chip in is about as fruitful as kicking yourself in the ass and politicians aren't going to do it so long as they're direct beneficiaries of the status quo. We're just chomping/champing at the bit on this one waiting for the inevitable implosion of capitalism spurred on by the previous point. Gotta wait until the powerful stop gaining power, then they'll fix things to keep their growth up and maybe we'll be better off for it…
    All we can do is wait for the excess of elderly to kick the bucket while the earth burns.
    Once Surtr has his way with the planet the lucky few survivors can try again. ^_^

  17. I'll keep working longer if I can get out of my shithouse job and do something I actually like otherwise I'm out as soon as I become retirement age

  18. 1st. Entitlement programs make up a VERY small part of the national budget, so it would take very little to help social Security, also those other programs have nothing to do with Social security.
    2nd. Life expectancy is actually on the decline in much of the US.
    3rd. If we are going to up the age of retirement, than we should think about shorter work weeks and higher pay.
    4th. Poverty is the true pandemic, which is leading to lower birth rates and the inability to save for retirement, as well as, an inability for people's children to be able to take care of their elderly parents, which leads to a much higher reliance on programs like social Security.

  19. american ask why health care in U.S its so expensive, i can tell you right now its doctors making HALF MILLION USD. that without nurses, maintanance of infracture and equipement, supply of everything that a hospital need to actually work out…

  20. If we don't get the pandemic under control, I fear that this won't be a problem.

  21. Holy cow man I can't even watch the video because the sound is so low. Someone needs to edit it and raise the volume, jumping from the main channel to this is kinda frustrating.

  22. wow. what the fuck was this video? not it, that's for sure. This video assumes our generation (millennials) will ever be able to afford to retire. The way things are going, we will work until we die. Our life expectancy has dropped for the first time in idk how many decades.

  23. Shit like this is why Bernie and the new revolution is soooo fucking important.

  24. Oof. The younger generation just cannot catch a break. They’re paid less than previous generations, cost of living is higher than previous generations, the prices of houses are ridiculous compared to previous generations, and now they have to WORK longer than previous generations? Sure they’re SURVIVING longer, but that doesn’t mean their LIVING longer. By the time they get to retire they’re going to be to old to actually enjoy their retirement

  25. I thought this was better than the other videos because you seemed to have a better sense of humor and there was style to it. Some rogue rocket vids can be a little clinical. It’s ok when hot Maria is talking in monotone, but I started watching Philly D cause his personality was a part of the news story. This was a good step forward for your brand. Entertaining news bits. Corona virus and yang gang bits add that your own voice element. Also it doesn’t feel too far left or right, which I always appreciate with Phil.

  26. Your voice is……………….. God Damnit you stole my thunder. Carry on

  27. My current retirement plan is nitrogen asphyxiation in a body bag to make disposal of my useless corpse less of an inconvenience.

  28. More old people in the work place is often more of a burden than blessing. I am the youngest person in my office and I'm 31. I'm my departments go to IT guy, simply because I'm young. I mostly just Google what they ask me and recite it, but they will not accept that I'm not a fucking wizard no matter how much I tell them they could do the same.

  29. If you want people to fill a workforce gap PUT INCENTIVES! Use government subsidies to make medical school so inexpensive that even the poorest of americans can afford it.
    Im poor but I got a 3.9 in biology, a 3.8 in health, and a 3.4 GPA overall; I got that by not studying at all for my GED and just winging it.
    I am also regarded by everyone I come across as a psychologist purely based on my wisdom and ability to help them with their mental issues, I'm a perfect fit to be a doctor but I just don't have the money and can't get federal loans as large as 100,000; I also refuse to go through banks because their interest rates are insane.

  30. If Japan wasn't such a xenophobe they wouldn't have this problem so they need to open up to immigration

  31. you CANNOT convince me to willingly curse a child to walk this failing earth.

  32. So I'm supposed to be happy about starting my career I had to change three times with a shitload of student debt, trying to feed myself in a broken economy in which I have to work almost 24/7, doing all that so I can to retire at age 70, pop out a bunch of kids, save money for them to go to school, save money for my own retirement, and in the whole meanwhile maintaining good mental health? Well, fucking awesome, will do!

  33. The younger generation straight up can't afford kids. But I'm sure boomers will just say that we need to stop buy Starbucks and eating avocado toast, or whatever.

  34. LOL, sounds like this country is doomed unless u change ur model. serves u right. i dont even think ill ever retire tbh, not in THIS economy XD. But also, u old people can stop being capitalists and hope ur asses get out of this reality soon.

  35. That's why they invented the coronavirus (covid-19), to help reduce the silver tsunami!

  36. Biggest problem is that the federal government spends the accrued interest on Social Security for other government spending instead of allowing the interest to continue to feed and grow social security.

  37. Welp time for a culling, BETTY GET MY SHOTGUN!

    You continue this hard of hearing yelling match.

  38. All I get from this video is that we are more likely to get a Thanos solution before the government tries to preemptively handle this

  39. Loved the end where you're like "more births could fix this problem but also probably make everything worse. We're all doomed, what do you guys think"

  40. Not gonna lie, this outbreak of this "random" coronavirus j is seeming less and less coincidental

  41. On the mention of Covid-19 some dark part of my brain periodically reminds me "you know what would fix the population crisis in the world? Another plague." Sure if it happened it would suck and might kill me too, but eh. I'm ready to take that bullet.

  42. The world is a depressing place, and things just aren't structured in a way that my generation (millennial) would want to bring kids into the world. There's a lot of us saying that population needs to decrease in general, and that living situations aren't stable enough to have kids. Rent is higher, food costs are higher, wages are basically stagnating for the vast majority of people. We can barely afford to keep ourselves fed, why would we bring a kid into that? Add on increasing political negativity, people being so polarized that they are constantly fighting with each other, policies that make it feel like we have no say or control over things that impact us. There's not a lot of reasons to have kids. Personally? I don't even think the word retire is going to be used as much in the future, unless you're already living somewhat comfortably. People can't afford to retire, we're going to be working to our graves basically. I personally feel like AI/robots/etc replacing a lot of the workforce is a good thing, as long as we make sure that any jobs being replaced have adequate resources to change their specialty to something else. Think coal workers having resources to move to a different job, vs just being tossed out and told to go find different work without any help.

    One thing I think would make a huge improvement is lowering education costs, making student loans not just a predatory way to make money (aka lower/remove interest rates), help educate our work force so that the majority of people aren't stuck at entry level jobs. Older people are taking up a lot of jobs they shouldn't have to take, which in turn takes that job opportunity away from younger people just starting out. If we put more resources into educating people, providing job resources and training to people, and making it easier for people to take the time to go to higher education we would see the workforce increase. As it is? A lot of us are feeling like we have to either go in debt for life to go to college, or skip it entirely because we don't have the ability to go and make ends meet without those loans. There's a lot of room for improvement in the states at the very least, that other countries are already miles ahead of us. Focus on the population as a whole, and not just individual gain/etc.

  43. Here's an idea, give young people good jobs and they can have the means to have and raise children. It's not rocket science.

  44. They can raise retirement age but they'll need that guy with the cart in Monty Python going around to companies shouting "bring out your dead".

  45. “Your Voice is annoying…” lmfao, I just about died when he said that

  46. I do not like when people talk about gdp without talking about ppp

  47. I'm pretty pessimistic about this. I'm 26 now and I'm pretty sure I won't see social security or be able to retire. I'll work until I die. Sounds gloomy but I am also a teacher (working in Japan currently) and love what I do. It'll just be a real shocker for the students when their teacher kills over mid-lecture.

  48. How many times does this dude need to switch mics during this video??

  49. Need to incentivise people to have children. Lowering costs for healthcare or college is irrelevant

  50. I’ve been worried about this since 2013 when I did an economics class at university. This is why I wanted to move to the US from Australia. Australia’s economy is going to be completely crippled in the next 30 years.

  51. One of the clear solutions is to increase the amount people "put away" into Social Security since many has increasingly taken more and more from the fund but not adding more and more back. Also having the federal government pay back the "loans" they took from it would be nice too.

  52. My soloutin: people over 65 get free access to all the class A drugs they want at free facilities where they can get smashed. The caveat is they have to stay on site while high.

  53. If the big companies & rich people paid their fair share in taxes.. We'd have alot more money to help such situations.
    Trump lowered tax for rich people & is still trying to get rid of Medicare… (have it all privatized)

  54. A people endorsing and legitimizing paywalls on self-improvement and self-care is counterproductive, depriving the population of competence and health, to public financial detriment.

  55. Let's all not forget also, that America doesn't believe in Unions.
    That America doesn't believe in Free Healthcare or Work Leave.
    That America believes in killing it's own population through various means.
    Consider those things, before you consider the Elderly, which according to America's track record, will probably head straight into furnaces.

  56. I don't want kids at all so I'm not helping the situation, lol. As to my own future, I'm worried a little bit but not immensely. I suppose I'm more of the "shouganai" type, to borrow off of Japan, which translates to "it can't be helped/it is what it is". No kids and I'm not even sure if I want marriage or a life partner so I'll probably still be working through all of my 60's, as long as these bones will let me.

  57. "Old people are less likely to spent money and take risks." Plus a bank refuses to give loans to old people because it's seen as a risky investment.

  58. I feel everytime I hear someone talk about this topic there is one point being forgotten or left out. Just because you live longer, doesn't mean you can work longer. Our bodys break down at the same rate and it's only the medicine that keeps people alive. For example my mom still has to work another 7 years, but her body is already at breaking point and she works in a job where you have to stand all day and sometimes lift heavy things. even though my mom might live to 100 she will not be able to work another 10-15 years… my point is… making people work longer is not a good solution. people in health care and education should make more money than people in other fields who earn millions for something that isn't as important.

  59. One big issue is the pricing of medical care and higher education… But we rather shovel those tax dollars into the military industrial complex and continue to price gouge medical care.

  60. I find it crazy that they can just cut your benefits and pension, they agreed to pay out a certain amount and you've been paying into it for your entire career now to be told you'll only get 70% of it because they don't have enough money? Sucks to suck no one cares when I don't have the money to pay up I still owe what I owe and so should the government/corporations

  61. I'm sure that poor immigrants could climb up faster and use benefits less if they could easily get into college and finish their degree.

  62. Here's hoping the elderly get coronavirus and take care of the problem 🙂 The old shits took the economic gains of their parents and destroyed it for the future and now they will get to suffer from it too. Fuck em.

    Btw, you know what fixes Social Security as well? Removing the cap on it so that the rich are paying more into it.

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