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That doesn't line up with SS report. There's 2 data tables...one without SS and one with SS.
Of course there would be more below poverty level without SS but they do get SS.
As well they should be. Ever play Monopoly? Same principle. Winners end the game with much more money than they started with. If you end the game broke, well then, you suck at the game.
The game is not over yet. This will change, just watch.
The 1970s were an awful decade for stock market investors. But had those folks held-on, they'd have been amply rewarded in the 1980s and beyond.
A quick and dirty summation of the 1970s stock market is:
Stock markets around the world were volatile in the 1970s. The S&P500 fell almost 40% during a bear market that lasted for most of 1973 and 1974, before rebounding over the next five years.
^^^This isn't too bad.
In the Great Depression, stocks dropped 90% but it took 4 years. The 2008 crash was 90% in just 18 months. That was life-changing for most older investors.
At present, we are just 11.7% below the all-time high. After COVID, worldwide inflation, a worrying war in Ukraine, and aggressive interest rate increases by the Fed, this is pretty excellent. The stock market has to ebb and flow anyway. Worry is never over, but I am not thinking of delaying my retirement due to this at all.
A quick and dirty summation of the 1970s stock market is:
Stock markets around the world were volatile in the 1970s. The S&P500 fell almost 40% during a bear market that lasted for most of 1973 and 1974, before rebounding over the next five years.
^^^This isn't too bad.
In the Great Depression, stocks dropped 90% but it took 4 years. The 2008 crash was 90% in just 18 months. That was life-changing for most older investors.
At present, we are just 11.7% below the all-time high. After COVID, worldwide inflation, a worrying war in Ukraine, and aggressive interest rate increases by the Fed, this is pretty excellent. The stock market has to ebb and flow anyway. Worry is never over, but I am not thinking of delaying my retirement due to this at all.
But 2009 was a great time to invest....so many good companies at such cheap prices.
I remember I bought Apple stock at $96/share and they split twice since then.
That doesn't line up with SS report. There's 2 data tables...one without SS and one with SS.
Of course there would be more below poverty level without SS but they do get SS.
Your article was updated in April, based on Census data; the article I referenced was provided by the National Council on Aging, using SSA data, as well as others' (22 sources were referenced). I'm not sure you are trying to compare "apples to apples."
According to Bradley Schurman, author of The Super Age: Decoding Our Demographic Destiny, we are on the cusp of major shifts that will impact how we live, work, and love. While the Boomers will be 76 to 94 years old in 2040, Gen X will be 60 to 75, the Millennials will be 44 to 59 and even the first Gen Z'ers will be in their forties. The whole country will be rapidly moving into the second half of their lives with expectations to live to be 90 or older. Assuming static birth rates and limits on immigration, this will create profound changes and expectations within society, not just in the United States, but with most advanced, Westernized countries.
Some more nuggets from the article:
It’s not inconceivable that employer-provided benefits tip away from childcare and more to eldercare in upcoming decades.
It is probable that Seniors, in coming decades, will push for a "Senior New Deal" or perhaps "Longevity New Deal" to recognize we live longer and there are more of us old folk.
Expect Governmental incentives for philanthropic organizations to focus on the needs of the aging cohort
Official retirement age is likely to be pushed to an older age
Primetime Partners https://www.primetimepartners.com/ is a venture capital company that: "We are an early-stage venture capital fund that invests in, and builds from the ground up, companies that can transform the quality of living for older adults.
Saudi Arabia is already investing $1 Billion per year to develop treatments to slow aging
In NYC, a new high-end senior living complex just opened with 126 units called Coterie Hudson Yards with high end design features, technology-infused Alexa smart home systems, and restaurant menus designed by the Mayo Clinic. Onsite staff of 40 are trained in the needs of seniors. There are plans to replicate Coterie in other affluent communities including West Palm Beach and Cupertino.
Landline Pictures, established in 2020 to create feature films and series for an over-50 audience.
It’s not inconceivable that employer-provided benefits tip away from childcare and more to eldercare in upcoming decades.
It is probable that Seniors, in coming decades, will push for a "Senior New Deal" or perhaps "Longevity New Deal" to recognize we live longer and there are more of us old folk.
Expect Governmental incentives for philanthropic organizations to focus on the needs of the aging cohort
Official retirement age is likely to be pushed to an older age
Primetime Partners https://www.primetimepartners.com/ is a venture capital company that: "We are an early-stage venture capital fund that invests in, and builds from the ground up, companies that can transform the quality of living for older adults.
Saudi Arabia is already investing $1 Billion per year to develop treatments to slow aging
In NYC, a new high-end senior living complex just opened with 126 units called Coterie Hudson Yards with high end design features, technology-infused Alexa smart home systems, and restaurant menus designed by the Mayo Clinic. Onsite staff of 40 are trained in the needs of seniors. There are plans to replicate Coterie in other affluent communities including West Palm Beach and Cupertino.
Landline Pictures, established in 2020 to create feature films and series for an over-50 audience.
Just 2 comments.
Coterie Hudson Yards, Independent Living | Assisted Living | Memory Care - Starting at $11,100 / month - I know it's NYC, but yikes!
Landline Pictures - this could be a money maker. I would love to go to movie theaters again, if there were any decent movies worth seeing.
A quick and dirty summation of the 1970s stock market is:
Stock markets around the world were volatile in the 1970s. The S&P500 fell almost 40% during a bear market that lasted for most of 1973 and 1974, before rebounding over the next five years.
We remember the 1973-1974 bear market, but forget that it was embedded in a cumulative malaise from 1968 to 1982, all during years of high inflation. The pain of 1973-1974 was acute, but short term. The real pain was that the highs just before 1973 weren't that high... and the drift and decline post-recover lasted for some half-decade.
To reiterate, the sudden drops capture the news, but the aggregate pain isn't from the drops themselves. It's from the drops being from a middling and milquetoast high. And from sideways or declining markets for many years, after ostensible recovery from the drop itself.
Quote:
Originally Posted by Back to NE
In the Great Depression, stocks dropped 90% but it took 4 years. The 2008 crash was 90% in just 18 months. That was life-changing for most older investors.
No, the 2008-2009 crash witnessed a drop of around 55%. The pain actually wasn't in THAT crash itself, but that the drop was from a brief high, in 2007... which itself has just barely touched the then-high of 2007. so, by the time that recovery finally came around, in 2013, it had taken a cumulative 13 years. In the meanwhile, dividends weren't enough, to offset inflation. So with dividends reinvested, adjusted for inflation, the market in 2013 was actually lower than it was in 2000.
I won't pretend that the Great Depression was somehow mild, but will note, that (1) dividend yields were excellent, (2) inflation was zero or negative, and (3) 1932-1936 were spectacular years of recovery. Again, the real pain wasn't the ghastly years of 1929-1932, but that it took so many years thereafter, to return to upward march, AFTER recovering much of the initial drop.
Quote:
Originally Posted by Back to NE
At present, we are just 11.7% below the all-time high.
No, the S&P 500 all-time high was around 4800. It's currently at 3900, and that's after some spectacular recent gains. That's a 19% drop. Small-caps and foreign stocks are doing (as usual) even worse. We have a long way to do. And ensuing further drops can't be excluded.
Continuing the theme, the gains of 2016-2021 look extraordinary to inexperienced investors, or to the non-investing public. But historically they are just compensation for the lousy years of 2000-2013. Looking back over the entirety of the 21st century so far, we're really not doing all that well, cumulatively, vs. the 20th century's second-half.
If I had to pick the financially luckiest generation, in terms of catching up-waves of the market and avoiding down-waves optimally with respect to their own life-cycle, it's the folks who were kids during the Great Depression, teens during WW2, young-adults in 1950, retirees in the late 1990s, and dead in 2021. 1928-2021. A good, long life - optimally phased with respect to the stock-market and the building of wealth.
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