Gen X (and Y)-Get Out Your Checkbook

I think the title of this post dates me...I should've called it "Get Out Your Debit Card". Either way, get ready to take on more financial burden, while at the same time not expecting any benefits.

For the 8 out of 10 of us that still have a job, get ready to pay. Starting in 2011, over 7,000 baby boomers per day will be joining the Medicare system.

LBJ signing Medicare into law

Here's a nice little nugget from an article in medicalnewstoday.com

"Put simply, costs are rising too fast for Medicare taxes to cover everything. A couple of baby boomers who reach retirement and had paid $114,000 in Medicare payroll taxes will typically require medical care costs exceeding $350,000."

You were hoping for Obamacare? Good luck. Do you think healthcare is a right? Think again. You can't demand a right to someone else's service. But, that's a blog post for another day.