Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I thnik SS trusteee shpow a different picture on the retiement of boomers i coming 15 eyars. Perhaps the largest group i the popualtion will be retired with all the demographic chnages it will bring. No different than they broguht when workig really.
I was thinking, many potential retirees didn't retire in the past 3-4 years due to loses in the stock market, worried with unemployement going up thet they couldn't get a job if they needed to. afraid couldn't sell their house to move.
so they stayed on the job.
Now the stock market (as by by the DOW) has pretty much recovered, at 13K with about 14K it's all time high. Hopefully 401K's have recovered.
They have worked 3-4 more years so they are older, also put more into 401K's
unemployment rate is going down, at 8.2 this morning, (not great but moving in right direction)
Real estate, always a local issue does seem to have pockets getting better.
I was thinking that maybe in 2013/14/15 many of these people will actually pull the plug.
Combine that with others coming behind them (Boomer wave getting higher) hitting their target retire dates, in 2013,14 and 15
Could 2013,14,15 have quite a lot of people actually retire and leave employment? Much more in numbers that haven't been seen in like 5 years or longer?
What do you think?
Read the following and decide for yourself. Could be rough for younger boomers. Real rough! I linked it in another thread so I have to be careful about double posting but it is very relevant to this discussion.
For the last 40 years or so, many baby boomers have saved and invested diligently for their retirement.
Now they may face a much different challenge: finding buyers for the mutual funds, individual stocks and other assets they'll need to sell to pay for their golden years.
I think people will retire because they can't work anymore.....and they won't have saved enough thanks to the downturn in the economy....and the fact that they hadn't saved enough before the downturn.
I think it's going to be evident that most of those people will fall through the cracks. Poverty in retirement will require that we re-define how the elderly live.
The peak is ten years out as shown in one of the above charts. All those BMWs, Bass penny loafers and espresso machines kicked things off, followed by McMansions with granite counters and family vacations costing 20K a pop. Lots of debts yet to be cleared / reduced, before the mass feel comfortable to retire.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.