The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been building for years. Now, new research sheds light on the scope of the problem: The rate of people 65 and older filing for bankruptcy is three times what it was in 1991, the study found, and the same group accounts for a far greater share of all filers.
NYT
Tell me true, my grandfather; were you a rich man once?
Yes, my boy, I had it all until I played the dunce.
How did you play the dunce, old man; what caused your swift decay?
I forgot to save for when it turned a rainy day.
A rainy day -- what can that be? Please tell me, honored sire.
It is when you learn too late that Wall Street is a liar.
Oh no, that cannot be, granddad; their candor is a byword.
Lemme tell you something, boy; those people are a sly herd.
Your pension and investments were not handled very well?
With hidden fees and mergers, son, it all went straight to hell.
But you are not too old to work again, is that not true?
The only work I'm fit for is a bankruptcy review.
Where will you live, what will you eat, now that you are so poor?
I was hoping, beamish boy, you'd let me in your door.
Sorry, ancient person, but my girlfriend says thumbs down.
Then I will take a tin cup and sell pencils throughout town.
Good luck, grandpa; you've taught me an important lesson here.
My advice, for what it's worth, is always drink more beer!
No comments:
Post a Comment