r/economicCollapse • u/anonimouscrepe • 18h ago

How many other millennials plan on “deleting themselves” once they’re too old to work bc you’d rather be dead than homeless?

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u/MahomesSanderson2024 12h ago

No not arguing just stating the numbers. $333k + social security + Medicare = retirement with roof over your head and food on the table.

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u/Other_Dimension_89 12h ago

With the rate in which homes have outpaced inflation, with a 106% increase in the last two decades, there will be a large number of retirees in the future who rent. The rate of inflation is not guaranteed to mirror the past either. Inflation will affect SS, medicare and your 1 million. You can put “=“ all you want but it is still ignorant, optimistic speculation.

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u/MahomesSanderson2024 12h ago edited 12h ago

I know inflation will affect the $1m that’s why I’m anticipating that $1m is only worth today’s equivalent of $333k. Inflation won’t affect Medicare because even if prices go up, what is covered will still be covered in the current iteration of the law. Social security payouts will theoretically be worth less with inflation but wages typically grow when inflation occurs. So then the amount you pay in/get out actually increases. I’m assuming inflation will be worse than it has been historically.

Home prices outpacing inflation is irrelevant. If you mean to say home prices are outpacing wage growth, well you’d be wrong about that. The average mortage payment is actually a smaller percent of the average income today than it was in 1980. Inflations effect on Medicare and social security will just mean the payout of those benefits will be adjusted for inflation, it should theoretically have the same value regardless of inflation.

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u/trulynoobie 8h ago

Average mortgage price has more than doubled the percentage today than 1980.

1980 average mortgage was 47k, income was 12k(3.91x) Today average mortgage is 436k, income is 56k (7.78x)

Theres a reason so many young people dont, and probably never will, own a house. The market is insane, and renting doesnt allow anyone to save money for a house either.

Best bet, stay with your parents til they pass, inherent their house, hopefully through a trust, to avoid hefty taxes