The "Greatest Generation"
20 11 10 - 12:01
Uh, about that:
Nearly 40% of retired Americans said they've accumulated credit-card debt in their twilight years â and aren't worried about paying it off in their lifetime, according to a survey released by CESI Debt Solutions.
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This may come as a surprise to younger generations who thought their parents, the so-called Greatest Generation, were more responsible than youngsters raised in an era of easy money, a culture of credit.
But remember that this is the generation that frowns upon talking about money â and certainly would be embarrassed by any potential money problems.
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More than half of those surveyed had saved less than $50,000 â and many of that group said they'd saved absolutely nothing â yet they retired anyway. Just 4% said they had delayed their retirement due to debt.
"They get to a certain age and they feel privileged," Ellington said. "They say, 'I'm going to go on that trip even though I have to put it on my credit card.'" - USAT
The WWII generation, flush with cash from America's win by outnumbering the opposition in WWII, now show that they never were great -- there were just lots of them.
Just as the WWII generation in Russia left their country a ruin, the Americans are doing their best to do so as well.
Watch: the Baby Boomers will be worse. The Tea Partiers are the sane ones.
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